I’ve been trading for a living since 1995. I went completely broke in 2002. It’s the most miserable experience of my life. Every emotion and train of thought of a trader is expressed so clearly in this book. From one who has made 100,000 in a day to losing it all I less than a week. I read this book at least once a year. Yes, I’m still trading
@@coelhocointech9841 even if you had a million dollars to burn, you start with a small 5k account and build consistency first. As you gain experience and profits, you allow yourself to trade with 10k, then 25k, and so on. Once you realise that no matter what you do, what trading styles you try, you just keep losing and losing and blowing up your accounts, you stop. Trading is not for you. You should try investing in a hedge fund or become an angel investor.
Joe Beeber because he had to deal with so much her wife shot their son, Livermore went into deppression It goes to show that nobody is immune to the ”beginner” mistakes or human emotions.
It had to be the wife he married, the woman you marry is so crucial. It can affect your mental stability for years. A wife can make you kill your self or make you feel rich when you aren’t. It’s true when they say be careful who you marry. Plus she was widowed 3xs by suicide before she got with Jessie? I’m positive it was his decision in who he married that killed him.
I recall a story about the Wall Street crash of 1929 and Jessie Livermore. He arrived home that day and his wife had movers taking furniture out of the house to place in storage. Jessie asked his wife what was going on. She said that we had to salvage and store our things or the bank will come after them. Jessie then told her that he made over 100 million by shorting the market that day. Tell the workers to put that stuff back inside...
At that point he should've called it a day in the market, and get into the real estate business and go for cashflow not speculative betting... He needs a money pumping engine to continue speculating if that's what gave him a thrill,, not risk all Ur fortune again after so many losses... What he needed was a business that gave him cashflow.. After going bust he still had to go back to the bucket shops,, and being banned there... What he need was a shopping mall or apartment buildings to give him seek capital... With $100M in cash in the 1930s he would've bought a hell of a lot of property in New York
Capital preservation strategies are a suckers game. Stop loss orders show your poker hand to your competitor dont use them . Expect a 50% paper loss before recovery and profit
Truly a pioneer. A boy that only had price to begin with, no trading room, no mentors, no cushy tooshy to hold his hand. He constructed a system and made it. His personal life intersected into his trading life, this affected him. Great video.
I would suggest to control the greed, if I had that much I would enjoy the rest of my life and donate to charity to bring people smiles rather than die in tensions and stress
@@DonkeyBirdNoob wrong. diversify, and sit put. it`s the compound effect that makes you the big money. It just takes time. The first 10 years nothing happens. Then BOOM. 8-9% profits a year over 10-15-20 years makes you the real money. Not short term trading. Jesse Livermore died broke because in reality it`s impossible to stay that fucking cool and rasjonal all the time. Diversification and compound= a fucking no brainer
@@Ikaros23 His point was that small cap doesn't have the same assurance of long term success that for example FAANG stocks now have. If you're investing equally in a wide variety of unproven companies in emerging industries, you're failing to acknowledge that 80% will not survive the inevitable consolidation. You have to actually correctly identify the winners, and have a disproportionately high % of your investments in those winners from the start.
it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! I freaking love that quote, but it is so hard sitting there with a big profit and knowing you might loose half of it or more before it goes higher (or Lower if your a seller)
I think I was most struck by how the emotions of a loss can lead to a downward spiraling effect where poor decisions can lead to catastrophic losses. I also really liked the quote about the markets always being right and letting the markets confirm your opinions.
Livermore committed suicide, his sone committed suicide, and his grandson jesse III committed suicide. That's an even bigger legacy suggesting great wealth doesn't buy happiness.
thank you for this video, just great perspective. I lost 140k after making it from only 20k and I wanted to shoot myself. I was so devastated. I guess his story of making billions and losing them over and over did actually justify killing himself. my troubles now seem miniscule in comparison... the trading rules added at the end were perfect, all of them are true. thank you again
My favourite bit is that even back in his time it was possible to become a billionaire (in today's money) starting with nothing. With everything we have now (technology, internet, money, ...) this must be very possible to achieve!
Sick inside bro then the world won't identify u bro If u love to be in comfort zone. Life is not living happily and always winning the real part of life is when we fight hard for our comeback. Losing also beautiful when u know u can make it again
So sad. He ended his life by suicide. I think his life was very depressing. 3 times declared bankrupt and had family crisis. However, I still honour him as a trader specialist during his time.
does anyone ever noticed that he draws pattern and price chart with actions on a paper back in those days, unbelievable, what a genius... he was born for the wall streets......he was drawing a rising wedge and a price chart
Great Video..." Single-Minded Genius Speculator "....What unravelled him ? His Private life...WOMEN... His Achilles heel ' was his relationships,thats what i got from watching the video...
I read the book and now watch the Video story of Jesse Livermore... In the book he said about a french man who stick to the ancient rules of reading the Chart and back test his Price action as a prove to hold on to a position and did have a profitable trading all the time. My big lessons is that repetition is a mother of a skills not as his up and down but as achieving the level of Financial Security goes on to Financial Independence and goes on to FINANCIAL FREEDOM, MASTERING A UNIQUE SKILL OF REPETITION e.g using $1,000 to make $10,000 over time and keep repeating it as 'it takes SMALL MONEY TO MAKE BIG MONEY' only if you know it. just avoid Emotional trading and be contend with steady growth!
Loved the book and video, anticipating where a stock will go has lost me a lot of money... Jesses quote is important ""don't trust your own opinion and back your judgement until the action of the market its self confirms your opinion"" Don't size in anticipating a move, wait for confirmation and THEN size in! You can see on the picture of his hand drawn chart, he says he will sell on the confirm /lower high, but not before then
i think the more a trader makes the more likely s/he to lose the lot if greed takes over, since more risk will be taken and it only takes a bad trade or a small set of bad trades to wipe out ones account. Though fortune favours the brave, it's good to maintain a level head and not risk too much of ones account on so few trades.
you have to be a sniper with your size. Typically you will know if your in too much size. I use to have a style of predicting the top of parabolic rips according to prior resistance. I would then short full size, and it would typically reject especially if it was a emotional panic pop Now days I prefer to size in with a core, really hitting it heavy and locking in some then recycling my shares. And risk management is really important because if you do the first method your full size and it can go against your quick so you have to decide to cut it off or keep it, or cut off half etc. The second method is more ideal for me now that I have a bigger account.
The book is the very best ever written on the subject and it is regarded as a thumping good read in mainstream instead of being accepted as the truly classic textbook that it really is, but only for the few.
What i just learnt from his life is that money isn't everything. It can come easily as it goes. Why? I don't know. I really don't know. Thks so much for the video. My first time i heard of him.
Great video, amazing trader. He blew accounts left and right but got back in again. It says a lot about how important psychology, how many people today would get back to trading after losing like him ?
read the book and loved the video! My favourite part is that he kept on going even though he had difficult times, take his 1 million debt for example and that he still managed to make another fortune en pay of that debt! Thanks for the video :)
I have been trading for just few months. Its been stressful, in gains and in losses. Now I am worried that this shit goes on forever. I might have to take trading as a hobby than anything more than that. Need to enjoy life as well. Good luck people.
This guy have no emotional stability. How the fuck you lose all your money 3 times ? If he win he win big , but when he lose he lose it all ? That make no sense to me. Why people think he a legend ? Sure he his very good with numbers and prediction of the market but a man who often broke HIS OWN RULES and have 0 money management is not a legend to me . Paul Tudor Jones and ray dalio are legend but this guy is just a human tragedy.
So his third wife’s first husband killed himself and then Jesse ,her second killed himself too and his kids sensed she was dark hearted.Once he was broke and relying on her he was no use to her.She married for money and now she had to support him.Well if this was today she would have a lot of explaining to do.
That is what acquiring a skill can do for you. With his skill, he always made a comeback. The reason I believe he couldn't do it again in his sixties was because he had so much emotional issues to deal with.
What I took away from this story was how his mom saw his dream and helped him leave the demands of his father to pursue it. Also, even though he was a genius with numbers and the market, in the end the pressure of it all lead to him taking his own life. Lesson learned; as a trader you must keep things in perspective. My opinion is that the stock market and making money became his god and in the end he had no where to turn but inward and all he found was an empty shell. A relationship with Jesus Christ could have filled the emptiness in this man's soul. Jhn: 3:16-18.
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Very interesting to watch, he was more gambler then a trader. Used stats for his advantage. The market really does give shit about your stats. He’s rule and philosophy I use with every trade.
All these decades later, we use the same speculative theories lose money. The reason there are wealthy is because others foolishly part with their money.
The man was a great gambler however he didn't know when to hold and when to fold. As Kenny Rogers said you got to know when to walk away and when to run. With $100 million it is time to run.
This was interesting. I know little about this, which is strange because My father was a lifetime career professional stock trader. But if you had MY perspective & relationship as it was with him it would become much more clear. Now as a middle aged man, not rich but not poor and I'm stable and content - even quite happy these days, because I have real wealth of a different kind. One which cannot diminish as long as I live. And yet I find myself interested more because I love math and patterns. I'm good at it. I can help but think I could have done very well as a trader...but it just didn't inspire me at the right time. That takes a mentor if one is not naturally drawn to it. As for toilet seat (up& down) Jesse... I have found that there is an art & science to making money and there is another for GENERATING wealth...and yet a third for maintaining it. They are 3 connected -related yet distinctly different systems. In any case ONE thing you can be certain and it is this.... Life is better even best...when one is PREPARED. Which simply means ALWAYS invest....in your future.
Great video thanks.I ve been trading over 30 years ...stick to your system, machines can help now, The true pattern here is consistency and being there when an unusual event occurs, like the crash of 29 or 2008. Then its not about skill its about sheer persistance and realizing one time events are just that ....one time
Awesome. I have read the book but did not know all the other personal issues he faced. It is funny how even though it was close to 100 years ago, we still face the same proclivities and issues he faced.
He s perfect example of traders.. frustrating all d life.....be a simple n long term investor n successful n happy investor like Warren buffet...own stocks like u own business.... happy investment....
Good strategy for the another 1929... also Buffet manipulated market many times - he doesn't only invest - he misinform public to make his investment not look like speculation but in reality it is the same just in longer span.
Friend watch his Berkshire AGM u never see he his excitement about his money...his wise person n share his great views about business in AGM...u never see such cool n long time investor in short term traders...c d people wisely...u will find...where d life leads to.... Happy investments...
Friend he started from very young age so he understands most of things in share mkt in right manner...he use his wisdom bro... instead of comparing or owening company..just follow his fashion..u will succeed...
Swazer Swazers his last wife was widowed 3xs before by suicide. I would’ve ran from her, it really is true the women you keep around you really does have an effect. Some women can destroy you from the inside.
This is one inspiring post! Thank you so much for this Nic :) I can't believe he made over $1.4 billion in todays money! #crazy #inspired #possibilities
Good vid 👍From his own admission in biography he broke many of his self imposed rules + regretted not reinvesting/saving more of his profits. I suspect the divorces didn't help much either 😐... but he certainly didn't die penniless 😉👍🏻
I’m halfway through reading his book. I felt a little broken about how he fell off after trusting Percy Thomas 💔😔 But at the same time, I can’t deny that the lessons in that book are examples of mistakes that I’ve made in my own trading.
Believe me: The r e a l wealth is the s p i r i t u a l one !!! Thats exactly what JL missed in his life and why he was so depressed - even if NOT losing Millions of bucks !!!
Awesome video, Nick !! Inspirational bits:- 1. Earning nearly 25000 today's money at 14-15....❤ 2. Predicting the crash rightly...❤ 3. Getting back on his feet again and again covering his losses....❤
I enjoyed watching this video. Honestly, I love to watch all the videos on the channel. Very informative materials and these resources have been improving my trading skills greatly.
I like your videos. The way you narrate their lives and refer to lessons from it, it's amazing. Keep up the good work. I'm officially subscribing to your channel :)
I'm loving these Legends of Trading videos! I do always wonder though how genuine parts of these stories are when they say that these professional traders started reading the financial literature at young ages like 5-10. I get kids can get interested in the most random things, so I'm not trying to call bullshit, but I wish they provided more details about that aspect.
Money and success of External world are not making people happy. Without successful on financial we can be happier if we understand internal world of our own.
THIS IS A LESSON FOR EVERY TRADER.NOT ONLY IN TRADING BUT FOR LIFE ITSELF. THANK YOU.
@Mac the problem comes because of the women. They destroy and kill men
I’ve been trading for a living since 1995. I went completely broke in 2002. It’s the most miserable experience of my life. Every emotion and train of thought of a trader is expressed so clearly in this book. From one who has made 100,000 in a day to losing it all I less than a week. I read this book at least once a year. Yes, I’m still trading
I lost a million in the market trading
@@coelhocointech9841 so you were rich? Why would you trade with such amount?
@@coelhocointech9841 even if you had a million dollars to burn, you start with a small 5k account and build consistency first.
As you gain experience and profits, you allow yourself to trade with 10k, then 25k, and so on.
Once you realise that no matter what you do, what trading styles you try, you just keep losing and losing and blowing up your accounts, you stop. Trading is not for you. You should try investing in a hedge fund or become an angel investor.
Making 100.000 a day to going broke means your risk management sucks.
Lol, yes it did. But I’m doing a little better now . Hope your doing well.
Well done. You got that perfect narrating accent
Thanks Brian!
If his rules were so good then why did he die broke?!!!
Joe Beeber because he had to deal with so much her wife shot their son, Livermore went into deppression It goes to show that nobody is immune to the ”beginner” mistakes or human emotions.
lesson to learn, STICK WITH YOUR OWN PATTERN AND RULES AND ALWAYS FOLLOW YOUR INSTINCT
That was fantastic. Your youtube hiatus was definitely worth it! Looking forward to whatever else you have in store
Thanks Adam!
Wow! Amazing story! Also very tradgic too. Very inspiring just goes to show what one can achieve and if you have faith and belief in yourself..
Thank you sir for this great legend
This is a video all trader must watch
Thanks for putting this video together
It had to be the wife he married, the woman you marry is so crucial. It can affect your mental stability for years. A wife can make you kill your self or make you feel rich when you aren’t. It’s true when they say be careful who you marry. Plus she was widowed 3xs by suicide before she got with Jessie? I’m positive it was his decision in who he married that killed him.
Thanks I'm glad I signed up
I like their "quotes" ! Thanks so much!
Very good. Thank you.
Amazing video. Obviously a lot of work was put into it!
Great Video . Am so inspired!!
Loved the story Thanks for the video Nicholas
Superb thank you!! x x
so the bucket shops before is like the cfd's of today ?
Awesome video.. Thank You!
amazing and inspirational indeed! thank you!!!!!!!!!!!
Indeed and inspired
Very good biography and thank you for that 🙂
Damn music's so loud I cant hear his voice.
I was looking for your channel for 5 months bro....i wanted the real OG traders content...
Awesome Video!
Legendary
Great
I recall a story about the Wall Street crash of 1929 and Jessie Livermore. He arrived home that day and his wife had movers taking furniture out of the house to place in storage. Jessie asked his wife what was going on. She said that we had to salvage and store our things or the bank will come after them. Jessie then told her that he made over 100 million by shorting the market that day. Tell the workers to put that stuff back inside...
Good story, thanks for sharing!
~ Nicholas
Legendary Trader😂❤😂
At that point he should've called it a day in the market, and get into the real estate business and go for cashflow not speculative betting... He needs a money pumping engine to continue speculating if that's what gave him a thrill,, not risk all Ur fortune again after so many losses... What he needed was a business that gave him cashflow..
After going bust he still had to go back to the bucket shops,, and being banned there... What he need was a shopping mall or apartment buildings to give him seek capital...
With $100M in cash in the 1930s he would've bought a hell of a lot of property in New York
@@YamnkelaMnguni he was a degenerate gambler - it was always going to happen
lesson of the day; protect your capital
Lesson, if you get rich trading, retire ASAP
Pyscology is Major part in trading
@@Naveen2429NS Nothing matters if you don't have an edge that works the future, stop fooling yourself
@@Naveen2429NS FACT.. EMOTIONS
Capital preservation strategies are a suckers game. Stop loss orders show your poker hand to your competitor dont use them . Expect a 50% paper loss before recovery and profit
Truly a pioneer. A boy that only had price to begin with, no trading room, no mentors, no cushy tooshy to hold his hand. He constructed a system and made it. His personal life intersected into his trading life, this affected him. Great video.
He didn’t always construct his own system. In many occasions he just followed other market “gurus”.
women destroyed him. Thats what gives chaos into succesful mens life. Otherwise he would never failed and never loose ever.
@@zarosderer4447 🙌 👏 🙏 🤝 👍they are more guilty than we think . . . thats why the french say "cherchez la femme!".
His life was just like the markets. Up and down up and down . The only pattern he didnt see! (no disrespect)
Great comment!
Yes i usually find this amusing after entering share market. That our lives also run like chart patterns and someone has to analyse it to live fully.
How do you know he he didn't see the pattern?
That was pretty fucked up. But for the sake of comedy, that was super hilarious and I was just gonna comment pretty much the same thing
哈哈哈。杰西，利弗莫尔。他是我的偶像。我的卧室挂着他的照片。
the most important rule after you have made it
"Diversify your investments "
Diversify only if you have a big cap, for small cap, diversify can't see any return 🤷♂️
@@DonkeyBirdNoob yep
I would suggest to control the greed, if I had that much I would enjoy the rest of my life and donate to charity to bring people smiles rather than die in tensions and stress
@@DonkeyBirdNoob wrong. diversify, and sit put. it`s the compound effect that makes you the big money. It just takes time. The first 10 years nothing happens. Then BOOM. 8-9% profits a year over 10-15-20 years makes you the real money. Not short term trading. Jesse Livermore died broke because in reality it`s impossible to stay that fucking cool and rasjonal all the time. Diversification and compound= a fucking no brainer
@@Ikaros23 His point was that small cap doesn't have the same assurance of long term success that for example FAANG stocks now have. If you're investing equally in a wide variety of unproven companies in emerging industries, you're failing to acknowledge that 80% will not survive the inevitable consolidation. You have to actually correctly identify the winners, and have a disproportionately high % of your investments in those winners from the start.
Livermore changed my life. He is basically a position trader within a bull market and taught me how to buy right and sit tight within a bull cycle
it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
I freaking love that quote, but it is so hard sitting there with a big profit and knowing you might loose half of it or more before it goes higher (or Lower if your a seller)
trailing stop baby
I think I was most struck by how the emotions of a loss can lead to a downward spiraling effect where poor decisions can lead to catastrophic losses. I also really liked the quote about the markets always being right and letting the markets confirm your opinions.
Livermore committed suicide, his sone committed suicide, and his grandson jesse III committed suicide. That's an even bigger legacy suggesting great wealth doesn't buy happiness.
thank you for this video, just great perspective. I lost 140k after making it from only 20k and I wanted to shoot myself. I was so devastated.
I guess his story of making billions and losing them over and over did actually justify killing himself. my troubles now seem miniscule in comparison...
the trading rules added at the end were perfect, all of them are true. thank you again
People with no dime in pocket are preaching money management to a legend.....lol social media!
@Manuj Madan He didn't lose it all. He sill had money when he died that he left to his wife
@Manuj Madan who cares ?
IKR. fkin cunts
What's funny is that majority of these millionaires once had no dime in their pocket, would you listen to them?
Duddddeeee the audacity of keyboard warriors is baffling 🤣🤣🤦🏾♀️
Jesse just loved the action too much. Should have just left $5 mil in a cash account... Not to be touched. 5 million is alot of money in 1930!!
My favourite bit is that even back in his time it was possible to become a billionaire (in today's money) starting with nothing. With everything we have now (technology, internet, money, ...) this must be very possible to achieve!
Very truly said , just discipline and hard-work needed
Great video. Livermore's personal life is intriguing and perplexing. But his wisdom about market behavior is unquestionable.
A TRADER must take profit and invest in other assets to avoid lossing money to market
should have cashed out and retired with that 1 billion
The man liked his luxuries!
Sick inside bro then the world won't identify u bro If u love to be in comfort zone. Life is not living happily and always winning the real part of life is when we fight hard for our comeback. Losing also beautiful when u know u can make it again
Its like preventing a Lion with a full stomach from attacking a Zebra. Thats who he is, and he made the billions, but billions didnt make him.
he loved trading
Great post arun mozhi
I think his 3rd wife whoes husband also committed suicide was the cause, she gave darkness as his child told
So sad. He ended his life by suicide. I think his life was very depressing. 3 times declared bankrupt and had family crisis. However, I still honour him as a trader specialist during his time.
does anyone ever noticed that he draws pattern and price chart with actions on a paper back in those days, unbelievable, what a genius... he was born for the wall streets......he was drawing a rising wedge and a price chart
For someone to lose $100 Million means the guy was a bad trader. This is a perfect example of pure speculator.
Thank you for this post. Unnecessary greed can kill, even oneself when taken to the extreme.
Great Video..." Single-Minded Genius Speculator "....What unravelled him ? His Private life...WOMEN... His Achilles heel ' was his relationships,thats what i got from watching the video...
True
I read the book and now watch the Video story of Jesse Livermore... In the book he said about a french man who stick to the ancient rules of reading the Chart and back test his Price action as a prove to hold on to a position and did have a profitable trading all the time. My big lessons is that repetition is a mother of a skills not as his up and down but as achieving the level of Financial Security goes on to Financial Independence and goes on to FINANCIAL FREEDOM, MASTERING A UNIQUE SKILL OF REPETITION e.g using $1,000 to make $10,000 over time and keep repeating it as 'it takes SMALL MONEY TO MAKE BIG MONEY' only if you know it. just avoid Emotional trading and be contend with steady growth!
Loved the book and video, anticipating where a stock will go has lost me a lot of money... Jesses quote is important ""don't trust your own opinion and back your judgement until the action of the market its self confirms your opinion"" Don't size in anticipating a move, wait for confirmation and THEN size in! You can see on the picture of his hand drawn chart, he says he will sell on the confirm /lower high, but not before then
i think the more a trader makes the more likely s/he to lose the lot if greed takes over, since more risk will be taken and it only takes a bad trade or a small set of bad trades to wipe out ones account. Though fortune favours the brave, it's good to maintain a level head and not risk too much of ones account on so few trades.
you have to be a sniper with your size. Typically you will know if your in too much size. I use to have a style of predicting the top of parabolic rips according to prior resistance. I would then short full size, and it would typically reject especially if it was a emotional panic pop Now days I prefer to size in with a core, really hitting it heavy and locking in some then recycling my shares. And risk management is really important because if you do the first method your full size and it can go against your quick so you have to decide to cut it off or keep it, or cut off half etc. The second method is more ideal for me now that I have a bigger account.
The book is the very best ever written on the subject and it is regarded as a thumping good read in mainstream instead of being accepted as the truly classic textbook that it really is, but only for the few.
What i just learnt from his life is that money isn't everything. It can come easily as it goes. Why?
I don't know. I really don't know.
Thks so much for the video. My first time i heard of him.
Jesse Livermore. The greatest stock exchange speculator of all time.
His movement was great but he never shared his success through donation or supporting people in need. BIG MISTAKE
Great video, amazing trader. He blew accounts left and right but got back in again. It says a lot about how important psychology, how many people today would get back to trading after losing like him ?
read the book and loved the video!
My favourite part is that he kept on going even though he had difficult times, take his 1 million debt for example and that he still managed to make another fortune en pay of that debt!
Thanks for the video :)
I have been trading for just few months. Its been stressful, in gains and in losses. Now I am worried that this shit goes on forever. I might have to take trading as a hobby than anything more than that. Need to enjoy life as well. Good luck people.
This guy have no emotional stability. How the fuck you lose all your money 3 times ? If he win he win big , but when he lose he lose it all ? That make no sense to me. Why people think he a legend ? Sure he his very good with numbers and prediction of the market but a man who often broke HIS OWN RULES and have 0 money management is not a legend to me . Paul Tudor Jones and ray dalio are legend but this guy is just a human tragedy.
I´ve read some books about JL and I only can give you this advice:
Learn something d e c e n t (which speculation is NOT!!) and don´t marry at all ;P
So his third wife’s first husband killed himself and then Jesse ,her second killed himself too and his kids sensed she was dark hearted.Once he was broke and relying on her he was no use to her.She married for money and now she had to support him.Well if this was today she would have a lot of explaining to do.
Maybe he didn't shoot himself.
Even he fell prey to bad trader's psychology.....
Probably the greatest living example of both what to do and what not to do when it comes to trading.
Wow! I can't believe how many times this guy came back from nothing!
That is what acquiring a skill can do for you. With his skill, he always made a comeback.
The reason I believe he couldn't do it again in his sixties was because he had so much emotional issues to deal with.
But his mind was not stable,
In life we need balance between love, happiness, sadness, greed, etc
What I took away from this story was how his mom saw his dream and helped him leave the demands of his father to pursue it. Also, even though he was a genius with numbers and the market, in the end the pressure of it all lead to him taking his own life. Lesson learned; as a trader you must keep things in perspective. My opinion is that the stock market and making money became his god and in the end he had no where to turn but inward and all he found was an empty shell. A relationship with Jesus Christ could have filled the emptiness in this man's soul. Jhn: 3:16-18.
This is how to win.
if I make a billion dollars I'm investing in real estate on top of trading
That’s why you need to take your profits and diversify. Never give it back to the markets.
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The only lesson and inspiration that you get from this video is - trading is a loser's game. DON'T DO IT.
@Danilo how is it possible ?
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Great story
What a mind
I love the rules
Implementing rule 1 always
What a great story , he faced major up & downs based on trading with money..
Pointing out the actions he was taking to lose his fortune was very important thanks for this team < 3
Very interesting to watch, he was more gambler then a trader. Used stats for his advantage. The market really does give shit about your stats. He’s rule and philosophy I use with every trade.
Poor Jesse , died broke and comitted suicide. R.I.P.
Top Notch. Really well done. I really appreciated all of the historically archived trading photographs in black-and-white.
Do you have facebook?
"Never sell a stock because it seems high-priced". The word "never" seems too strong to me.
I long for a "Mute Lousy BG Stock Music" option in the youtube settings.....
The world is so small: Brandi Love is his great granddaughter
Still, I love his book
Icy Brown wait seriously?
@@sammoore5786 at least that's what Wikipedia is saying
BULLSHIT I AM HIS SON
Dang thats some good rules.
Think they all apply today as well right? :-)
whole book is told in this 17 min video!
All these decades later, we use the same speculative theories lose money. The reason there are wealthy is because others foolishly part with their money.
Here is an example of one of the worst money managers in history.
Daddy Dividends probably, but a better money maker then you
Here is an example of one of the best money makers in history.
Guys, it depends on how you see it. But truly, Livermore was a good money maker no doubt, but he was a bad money manager.
The man was a great gambler however he didn't know when to hold and when to fold. As Kenny Rogers said you got to know when to walk away and when to run. With $100 million it is time to run.
Loved this Nicholas. It's great to see the history and story from an inspirational trader. Cheers.
Cheers James. I haven't seen you around as much recently! Hope the trading is going well.
This was interesting. I know little about this, which is strange because My father was a lifetime career professional stock trader. But if you had MY perspective & relationship as it was with him it would become much more clear. Now as a middle aged man, not rich but not poor and I'm stable and content - even quite happy these days, because I have real wealth of a different kind. One which cannot diminish as long as I live. And yet I find myself interested more because I love math and patterns. I'm good at it. I can help but think I could have done very well as a trader...but it just didn't inspire me at the right time. That takes a mentor if one is not naturally drawn to it. As for toilet seat (up& down) Jesse... I have found that there is an art & science to making money and there is another for GENERATING wealth...and yet a third for maintaining it. They are 3 connected -related yet distinctly different systems. In any case ONE thing you can be certain and it is this.... Life is better even best...when one is PREPARED. Which simply means ALWAYS invest....in your future.
I never heard of Livermore until this video. I learned much. Thank you.
Great video thanks.I ve been trading over 30 years ...stick to your system, machines can help now, The true pattern here is consistency and being there when an unusual event occurs, like the crash of 29 or 2008. Then its not about skill its about sheer persistance and realizing one time events are just that ....one time
Awesome. I have read the book but did not know all the other personal issues he faced. It is funny how even though it was close to 100 years ago, we still face the same proclivities and issues he faced.
He s perfect example of traders.. frustrating all d life.....be a simple n long term investor n successful n happy investor like Warren buffet...own stocks like u own business.... happy investment....
Good strategy for the another 1929... also Buffet manipulated market many times - he doesn't only invest - he misinform public to make his investment not look like speculation but in reality it is the same just in longer span.
Friend watch his Berkshire AGM u never see he his excitement about his money...his wise person n share his great views about business in AGM...u never see such cool n long time investor in short term traders...c d people wisely...u will find...where d life leads to.... Happy investments...
Friend he started from very young age so he understands most of things in share mkt in right manner...he use his wisdom bro... instead of comparing or owening company..just follow his fashion..u will succeed...
Sounds like it was his choice in the women around him, that was ultimately his ruination.
Swazer Swazers his last wife was widowed 3xs before by suicide. I would’ve ran from her, it really is true the women you keep around you really does have an effect. Some women can destroy you from the inside.
This is one inspiring post! Thank you so much for this Nic :) I can't believe he made over $1.4 billion in todays money! #crazy #inspired #possibilities
Very informative, good job and thank you so much sharing this. Deeply appreciate free knowledge from you.
You need help trading?
you know he loved trading so much that he didn't care about the money he could lose if he was wrong.
If you have Money, use it to make it More, don’t buy depreciation.
Good vid 👍From his own admission in biography he broke many of his self imposed rules + regretted not reinvesting/saving more of his profits. I suspect the divorces didn't help much either 😐... but he certainly didn't die penniless 😉👍🏻
I’m halfway through reading his book. I felt a little broken about how he fell off after trusting Percy Thomas 💔😔
But at the same time, I can’t deny that the lessons in that book are examples of mistakes that I’ve made in my own trading.
I also felt the pain. Especially how he suffered 5years of poverty afterwards. But his great comeback became a quick consolation in the story.
Just finished the book, really amazing stuff, a truly epic story!
Which book it is plz
How do I get the book
Legendary Trader. Bad money manager. How on earth does someone lose a hundred milliom dollars?
Fascinating story! The mind can make us rich but also destroy us
Believe me: The r e a l wealth is the s p i r i t u a l one !!! Thats exactly what JL missed in his life and why he was so depressed - even if NOT losing Millions of bucks !!!
Awesome video, Nick !!
Inspirational bits:-
1. Earning nearly 25000 today's money at 14-15....❤
2. Predicting the crash rightly...❤
3. Getting back on his feet again and again covering his losses....❤
That last point must have taken great resolve and tenacity!
The Duomo Initiative - Financial Education
Yess! Very true !
Livermore was very brilliant at trading & was way ahead of his generation. His only challenge was preserving his capital.
He's a Grandfather of Brand Love 😉
I enjoyed watching this video. Honestly, I love to watch all the videos on the channel. Very informative materials and these resources have been improving my trading skills greatly.
I like your videos. The way you narrate their lives and refer to lessons from it, it's amazing. Keep up the good work. I'm officially subscribing to your channel :)
I'm loving these Legends of Trading videos! I do always wonder though how genuine parts of these stories are when they say that these professional traders started reading the financial literature at young ages like 5-10. I get kids can get interested in the most random things, so I'm not trying to call bullshit, but I wish they provided more details about that aspect.
i wonder about some things but when you know it was wide open and SEC was making laws after they did stunts...it gets interesting to me too. moreso
Money and success of External world are not making people happy. Without successful on financial we can be happier if we understand internal world of our own.