Beyond Livermore

[MightyMouse 12]

I struggled in my attempts to read "Reminiscences of a Stock Operator" because, to me, it read like the lyrics of a modern rap song which I too struggle to absorb: " I'm the baddest in the neighborhood and I'm this and I'm that yall"; knowing that the rapper is separated from death or jail by a a short period of time. In short, I don't buy the either ego driven story.

 

I agree with Siuya & Zdo, that Livermore benefited by the dominance of Mr. Pink. Mr. Pink who gave him his notoriety also took him down.

 

Mits, Perhaps, you let Mr. Blue manage the finances and keep him away from the trading decisions and let Mr. Pink make all the trading decisions, hoping he gets on a roll or streak like Archie Karas.

[zdo 20]

  MightyMouse said:

I struggled in my attempts to read "Reminiscences of a Stock Operator" because, to me, it read like the lyrics of a modern rap song which I too struggle to absorb: " I'm the baddest in the neighborhood and I'm this and I'm that yall"; knowing that the rapper is separated from death or jail by a a short period of time. In short, I don't buy the either ego driven story.

 

 

Yep I had ‘trouble’ reading Reminiscences... too… not getting much further myself with

http://www.traderslaboratory.com/forums/books/131-jesse-livermore-worlds-greatest-stock-trader.html

preview,etc at

Jesse Livermore: World's Greatest Stock Trader - Richard Smitten - Google Books

but others may get something from it. .....A story is a story is a story…

 

  MightyMouse said:

...Livermore benefited by the dominance of Mr. Pink. Mr. Pink who gave him his notoriety also took him down.

 

Mits, Perhaps, you let Mr. Blue manage the finances and keep him away from the trading decisions and let Mr. Pink make all the trading decisions, hoping he gets on a roll or streak like Archie Karas.

 

He blew up and came back how many times? That, to me, is the core of his usefulness as a 'model' … and not because he came back (almost*) every time!

With that many blowups, the usefulness is in the possible clues of why he blew up…

and in maybe discovering whether in those blowups he had any ‘control’ of it at all ???

Did he have his trademark precise ‘control’ - then suddenly not have that ‘control’?

Were factors at play that were beyond whether or not mrblue or mrpink or mr_____ or mr_____ were right or wrong that time / those times

or whether he simply allowed mrblue or mrpink or mr_____ or mr_____ to have excessive influence when he shouldn’t have?

 

*Got to keep our fkn suicide obsessed posters fed…

[Patuca 13]

Sadly the family must have suffered from clinical depression. Not only did Jesse Livermore kill himself but his son Jesse jr also killed himself in 1976. Then Jesse Jr's son Jesse III killed himself in 2006.

 

It is better to express anger (in a constructive way) when losing in the markets and jump with glee when winning. We may act like we are robots and machine making logical decisions ONLY.....but, we are fooling ourselves.....

 

When i trade i try to be a robot while the trading is going on. But when i win i rejoice..when i lose it eats away at me ...sometimes for days..i put it behind me but to say it doesn't bother me in the least ..well...i would be lying. I literally hate losing money...or anything for that matter but yet i know there is no way to win every time. But i don't have to like losing..neither do i have to think that winning will bring happiness and satisfaction in life. Although it has been known to cause a smile or two every now and then..

 

Sometimes it is good to just go fishing...or walk with the grandchildren...

[Patuca 13]

  mitsubishi said:

There's a flipside to that.Is there no difference in how you feel about a losing trade that -

A- obeyed your rules?

B- did not obey your rules?

No difference for me. I hate losing..rules for me have nothing to do with it. It is the fact of losing....could be my ego? :rofl: :rofl:

 

And....not sure how a trade obeys or disobeys rules anyway....?

[bobcollett 10]

  mitsubishi said:

....let the market confirm you analysis before backing up the truck.

Hi mitsubishi,

Thats what all retailers are taught.... Mr Blue.

And thats why they make baby pips, and eventually lose their stake.

I think Mr Pink must make a subjective decision to see a home run. (or suicide)

And that subjective decision is based on a combination of things....NOT just a chart.

regards

bobc

[SIUYA 11]

On reading the JL book from the link Mits posted - written at the end of his trading career.

It would seem that his blowups were a result of his impatience.

If his rules - which seemed to be the opposite to what the brokers suggest constitutes a lot of the reasons for retail losing - allowed him to make the big money, I can only assume he also broke those rules....and impatience seemed to be the one issue that he actually mentions a few times as something that plagued him.

 

If that then led to some spectacular revenge trades the blow up could be quick, otherwise, impatience can cause you not only to go too early, get out too early it can also cause you to reverse decisions too often - and a slow death blowup can easily occur.

[zdo 20]

  SIUYA said:

...It would seem that his blowups were a result of his impatience.

If his rules - which seemed to be the opposite to what the brokers suggest constitutes a lot of the reasons for retail losing - allowed him to make the big money, I can only assume he also broke those rules....and impatience seemed to be the one issue that he actually mentions a few times as something that plagued him.

 

 

Are we going circular?

Could impatience be just another way of describing not following rules ?

And could not following rules be just another way of saying literally can’t follow rules ?

(rules as defined by self not others btw … and mits I don’t think they are as susceptible to misinterpretation as often as you allude … nor are they in ambivalence producing ‘conflict’ often if properly ‘designed’ and the trader has done the work to make the odds explicit… but those things are beside the point… point is)

If a trader as good as Livermore gets to points where he couldn’t follow his ‘rules’ all the time – then can anyone?

 

Impatience…

Stubbornness…

Mental state words... mental states somewhat tainted by something emotional?

Impatience…

what about the present could he not accept?

 

Does anyone know the story of his first blowup?

[zdo 20]

  mitsubishi said:

Need to cross check the accuracy of what is claimed here but one thing he mentions:

 

At the beginning of the day, Livermore's fortune stands at $50,000. At the end of a frantic day's trading, Livermore is broke. (May 1901)

 

"The ticker beat me by lagging so far behind the market. The divergence between the printed and the actual prices undid me."

 

 

spring 1906- makes 250k on a hunch-Mr Pink

 

summer 1906- loses 40k acting on a tip-Mr Blue

 

Reading the summary in the link it is clear to me that Livermore was at his greatest (and consistent) when Pink&Blue were in perfect harmony.That means Mr Blue does the careful analysis And Mr Pink decides how much will be risked.And just a reminder,this is his own money.Still,taken,overall,it is easy to see why some believe he was a gambler and others believe he was a master trader.Maybe he was both at different times.

 

To go "Beyond Livermore" (or beyond anything) we need to learn from the whole story the good and the bad.This is a human story and humans are fallible.Greatness is never one dimensional.Think of your proudest moment..hold that thought.Now think of your most weakest shameful regrettable act.

We all know what we aspire to be.We all know when we fall short.

 

1917-Livermore makes another $1.5 million profit and pays back all his debts from 1914. He buys $800,000 dollars worth of annuities (annuities explained) to ensure his family has a secure income should he ever be wiped out in the markets again. He also puts money into trusts for his wife and son.

I don't think many gamblers do that.

 

 

Jesse Livermore - Trading Career Timeline - Key Moments

 

I also recall from "Reminiscences" that he liked to "swing a big line" which predates the cliché "go big or go home"

Is that a rational decision or irrational?

 

Came across this today but have not read it.It's based on TOM (theory of mind)

 

Exploring the Nature of 'Trader Intuition' by Antoine Jean Bruguier, Steven R. Quartz, Peter Bossaerts :: SSRN

 

Intuition and Impulse in a Great Trader | Around Wall Street | Stephen A. Bornstein

 

Mits,

 

Thanks for the excellent ‘pre going beyond’ due diligence on the history. Seems like a lot of those times where he didn't 'keep it' , he had continued to act, etc. as if the 'environment' hadn't changed, even though it had...

 

Things are rarely just blue and pink – most times we have to deal in shades of green…

A lot of my interest in this ‘thread’ stems from a dilemma I was experiencing near when I started the thread. Several years ago I crossed into the zone where one of my new ‘rules’ became, in essence, never touch the principle * . … and then recently I started seeing possible MAJOR (and, yes, RISK filled) opportunities that provided me temptations to question that ‘rule’ :haha: just one more time

(… which on a long enough time horizon always = famous last words :helloooo: ).

and, yes, the "swing a big line" bizzness you discussed above was involved...

...speaking of that... did you know that while the 'heavy bats' of baseball history form the top ten list of the of runs scored, except for number one at crossing home plate was Ricky Henderson who did it with his legs and wits not his bat ??... anyways...

 

Independent of the thread, I was blessed to wake up the next morning with my conflict resolved - but still have a general interest in questioning the ‘pinker’ legends like JL– as opposed to the ‘bluer’ , or ‘hybrid’ ones like found in the trading wizards books etc.

 

Have a great weekend all.

 

zdo

 

* which is rooted an eventual shift in perspective for all of us who live past a certain ‘age’, btw

[SIUYA 11]

  zdo said:

Are we going circular?

Could impatience be just another way of describing not following rules ?

And could not following rules be just another way of saying literally can’t follow rules ?

(rules as defined by self not others btw … and mits I don’t think they are as susceptible to misinterpretation as often as you allude … nor are they in ambivalence producing ‘conflict’ often if properly ‘designed’ and the trader has done the work to make the odds explicit… but those things are beside the point… point is)

If a trader as good as Livermore gets to points where he couldn’t follow his ‘rules’ all the time – then can anyone?

 

Impatience…

Stubbornness…

Mental state words... mental states somewhat tainted by something emotional?

Impatience…

what about the present could he not accept?

/QUOTE]

 

thats the point.....

maybe it is as simple as that. momentarily lapses of concentration, or ill discipline is all it takes if your system is fragile.....but maybe this fagility is what allows it to make the big money.

.....and does this then get to the crux of many a problem.

A system that allows you to make big money might also have big blowups with any deviation of strict rules. Or the rules are actually not the important part of the system....the operator is.

...................

If you want to apply it directly to JL, then unless you have his state of mind its virtually impossible to tell. From Mits research about his blowups...the 'swing big' means even with all the rules or disciplines its a simple case of poor money mgmt.

 

All in all - this might be an interesting exercise, but its all going to be purely speculative.

[SIUYA 11]

  mitsubishi said:

And that brings me back to the concept that instinct should not be supressed,but rather,it should be harnessed within a rule based framework.Instinct is a talent and the direct result of time served.

 

Page 64- "subconscious tip off"..and- "This sense of knowing when you are wrong even before the market tells you becomes,in time,rather highly developed"

 

 

yes - you wonder if sometimes its the speed of knowing when you are wrong is important....and hence you might not repeat things as much.

Most of us stop because of pain (of loss), but I have a friend whose has a great attribute. ....thats his ability to keep going at something. He once had about 7-9 goes at a trade idea, and ripped up about 400k. (he worked for an institution), when it finally came off he made about 1.2mil. Most of us would stop after 2-3 times. But this guy will swing 5k, to 5m to 50mil if you let him. (I am far more a tortoise)

 

However - he is the perfect trader that a manager of traders should occasionally let off the leash in the right market or regime. Maybe the manager (mr Blue) applies the rules for when to unleash the personality (mr Pink)?

Maybe JL needed the internal manager?

 

I am not like JL in any sense, but I do know of the feelings of impatience. Its the fear of missing the opportunity...not so much an overconfidence of being right....and this is most likely played out with his rule of 'waiting for it to turn' and 'making money right from the time the trade is on'.

...however this is all speculative

 

Going beyond - i do think often we need tricks or other similar things to keep us on the straight and narrow. Either this is via friends, or other things such switching off at times of the day, enforced holidays, withdrawing half of profits after a big win.

..........

................

as to stress.....some people thrive under it and will always torture themselves. It seems to me that expectations and failure thereof/or even reaching and then disappointment for many leads to the most stress. Its when you are a tortoise and want to be the hare or vv that the stress occurs.

[zdo 20]

[ame=http://www.youtube.com/watch?v=wkURz6H0I0I]Lenny Kravitz, :"It Ain't Over Till It's Over" - YouTube[/ame]

[Guest OILFXPRO]

  SIUYA said:

yes - you wonder if sometimes its the speed of knowing when you are wrong is important....and hence you might not repeat things as much.

Most of us stop because of pain (of loss), but I have a friend whose has a great attribute. ....thats his ability to keep going at something. He once had about 7-9 goes at a trade idea, and ripped up about 400k. (he worked for an institution), when it finally came off he made about 1.2mil. Most of us would stop after 2-3 times. But this guy will swing 5k, to 5m to 50mil if you let him. (I am far more a tortoise)

 

However - he is the perfect trader that a manager of traders should occasionally let off the leash in the right market or regime. Maybe the manager (mr Blue) applies the rules for when to unleash the personality (mr Pink)?

Maybe JL needed the internal manager?

 

I am not like JL in any sense, but I do know of the feelings of impatience. Its the fear of missing the opportunity...not so much an overconfidence of being right....and this is most likely played out with his rule of 'waiting for it to turn' and 'making money right from the time the trade is on'.

...however this is all speculative

 

Going beyond - i do think often we need tricks or other similar things to keep us on the straight and narrow. Either this is via friends, or other things such switching off at times of the day, enforced holidays, withdrawing half of profits after a big win.

..........

................

as to stress.....some people thrive under it and will always torture themselves. It seems to me that expectations and failure thereof/or even reaching and then disappointment for many leads to the most stress. Its when you are a tortoise and want to be the hare or vv that the stress occurs.

 

something wrong with you you are telling me your trading personality and knowledge , you understand the phsyche but you do not have the finishing touches to make 100 pips a week and become a billionaire.You are greedy , if you know it all but you don't .If I talk to u , u want me to transfer the the money , like a useless nutter throwing money in to your bank account.

 

The price of getting you to a billionaire level is a net payment from you , I have to rewire your brain and its beliefs.All the trading idiots are calling for banning me , but I am your guru to billions.

[SIUYA 11]

  OILFXPRO said:

something wrong with you

 

:helloooo:

 

Melvin Udall says it all......

: Where did they teach you to talk like that, in some Panama City "Sailor wanna hump-hump" bar, or is it getaway day and your last shot at his whiskey? Sell crazy someplace else, we're all stocked up here.

[MightyMouse 12]

  OILFXPRO said:

something wrong with you you are telling me your trading personality and knowledge , you understand the phsyche but you do not have the finishing touches to make 100 pips a week and become a billionaire.You are greedy , if you know it all but you don't .If I talk to u , u want me to transfer the the money , like a useless nutter throwing money in to your bank account.

 

The price of getting you to a billionaire level is a net payment from you , I have to rewire your brain and its beliefs.All the trading idiots are calling for banning me , but I am your guru to billions.

 

I have asked, but you have not responded. I want to send you money so I can trade under your tutelage. Please let me have your account numbers so I can wire money to you.

[Guest OILFXPRO]

  SIUYA said:

:helloooo:

 

Melvin Udall says it all......

: Where did they teach you to talk like that, in some Panama City "Sailor wanna hump-hump" bar, or is it getaway day and your last shot at his whiskey? Sell crazy someplace else, we're all stocked up here.

 

With all this phsyche knowledge and mindset , your missing pice in your jigsaw is the method /sysyem/trading skills.I hand this missing jigsaw to you in a few weeks of training , then you won't need me , but thereafter i will finance you 50 /50 share of profits paid every week.100 pips a week on average , compounded every month on a gbp 100,000 k account.

 

I wuz not selling anything.

[Guest OILFXPRO]

  MightyMouse said:

I have asked, but you have not responded. I want to send you money so I can trade under your tutelage. Please let me have your account numbers so I can wire money to you.

 

DEMO ACCOUNT transfers are not valid.

[Guest OILFXPRO]

  zdo said:

Beyond Livermore

 

Distilled, purified, simplified -‘Beyond Livermore’ = ‘keep what you take’

By

1. Finding a way NOT to break your own rules.

 

ps hopefully the 'Beyond' tag will have mitsubishi's blessings. Let us know if you don't think it's appropriate and we'll change the title " and everything"

 

Livermore , a fictional fantasy fairy tale , a story of a gambler who blew up many times over and went bankrupt several times.

 

Maybe it is time to look at how to beat today's markets and follow today's succesful traders

 

George Sorros

 

George Soros does it again! The billionaire, 83, gets married for the third time in LAVISH wedding to his 42-year-old fiance at his New York estate on Saturday | Mail Online

[MightyMouse 12]

  OILFXPRO said:

Livermore , a fictional fantasy fairy tale , a story of a gambler who blew up many times over and went bankrupt several times.

 

Maybe it is time to look at how to beat today's markets and follow today's succesful traders

 

George Sorros

 

George Soros does it again! The billionaire, 83, gets married for the third time in LAVISH wedding to his 42-year-old fiance at his New York estate on Saturday | Mail Online

 

The gold digging whore thinks she is a winner; however, soon she will be forced into touching the skin and atrophied flesh of an 83 year old, dealing with the odd aroma that 80 year olds emit, and despising the repetitive stories that 83 year old are prone to tell. Soon she will learn that money isn't everything and a dildo is her best friend in the household. You can bet he has a solid prenup.

[tradingwizzard 10]

I really love the Livermore story and the ones who are not recognizing that I would tell them they are lying to themselves....

 

no one is starting this business with a "billionaire" indicator on the pillow and the best part of the book and the part any trader should read tens of times is the psychological part.......there are some examples there and explained in plain English so that everyone understands that makes every trader remembering situations he/she met on the markets.

 

like the one with the guy that had a tip to buy a stock and the guy that receives the tip just went over and sells 10,000 shares of the stock........the explanation.....to test the market....brilliant.......

 

even with the times he went bankrupt....lot to learn......read Market Wizzards and see the vast majority of big shot traders of today were big time loosers at the begining.....

 

well, no one can make a fortune compounding -15 pips/week.......15 pips....unbelievable......huh, oily boy?

 

Regards,

TW

[wmck6167 10]

  OILFXPRO said:

Livermore , a fictional fantasy fairy tale , a story of a gambler who blew up many times over and went bankrupt several times.

 

Maybe it is time to look at how to beat today's markets and follow today's succesful traders

 

George Sorros

 

George Soros does it again! The billionaire, 83, gets married for the third time in LAVISH wedding to his 42-year-old fiance at his New York estate on Saturday | Mail Online

 

In my opinion, I do not think it's fair to comment Mr. Livermore life journey as a fairy tale. For me, I would thank to him to teach me the "20%" I lacked in the past based on "80%" mindset part. The most important is I start to through out all of the masters and put them behind me and start to conduct my own trading independently, isn't he a great person?

Thanks again, Mr. Livermore.

[MightyMouse 12]

  mitsubishi said:

Yeah.Like Jesus he lived on the edge and died early,so became a legend.If he'd been an actor-James Dean.If a rock star-Jimi Hendrix.

Some people are just born to be great and the rest of us ain't.

Some of us become great,but,again,very few.

Some have greatness thrust upon them-and fail miserably.

 

But when you have greatness thrust upon you,much depends on luck

 

Was Churchill great? What if we had lost the war.would he still have been great? Because despite all our engenuity and courage,the fact is if Hitler hadn't switched from bombing airfields to bombing London,the RAF would have lost the Battle Of Britain not from lack of planes,but lack of trained pilots.And why did he switch? because of Dresden.Did we plan to burn an entire city or was the weather a bad/good luck factor?

 

Remove luck from the world and the already limited opportunity for greatness dwindles even further.

So anyone who thinks luck doesn't play a part in trading must believe they're operating in a non human paradigm.

But,you make you're own luck don't you? Isn't it more accurate to say you create a situation in which luck could happen?

Luck is an invisible and underpredictable (how are you today zdo?:)commodity and plays (a)part (;)heading back here soon at all?) in any skill based endeavour,BUT we are not talking about skill and luck (imo) when it comes to people like Livermore,we are talking about greatness and skill/greatness and luck.

So if you are reckless and blow your account,you could say Livermore was at times reckless so why is he great and you're not.?

Part of the answer is luck-recklessness either pays off or it doesn't.

Some of these great names in history were in a position where they were forced to take great risks.We are not.We can all make a million...on a simulator,so what does that mean?Real money prevents us becoming great? No.Many greats began life in poverty.

They didn't do it overnight though.So maybe it's a case of getting to a certain point which can become the launchpad for being great.But probably most people would ease back at that point rather than going all out for glory.Another reason why greats are few and far between.

Skill and luck is the best most of us can hope for..greatness is highly unlikely.

 

Livermore was great man, a man of vision and guts. And there isn't even a plaque, or a signpost or a statue of him in that town! Someone put a bullet through his eye. No one knows who gave the order. When I heard it, I wasn't angry; I knew Jesse, I knew he was head-strong, talking loud, saying stupid things. So when he turned up dead, I let it go. And I said to myself, this is the business we've chosen; I didn't ask who gave the order, because it had nothing to do with business!

[Guest OILFXPRO]

  mitsubishi said:

Godfather II

What's the point of being great when most people just think you were a gambler who shot himself? Nice connection to the home of gambling.

 

Maybe this thread following is a classic example of why 95 % fail and what they look for , a fantasy to dissapear from their true trading failures.

[zdo 20]

  mitsubishi said:

... (how are you today zdo?:)commodity and plays (a)part (;)heading back here soon at all?) ...when it comes to people like Livermore,we are talking about greatness and skill/greatness and luck...

 

Hey mits.

Zup?

I haven’t been bangin in this thread because at this juncture the only ‘Beyond Livermore’ to me is avoiding his blowups and huge drawdowns… for me, the “greatness and skill/greatness and luck” discussions and insights into his acumen are not in the Beyond Livermore topic. They belong in a plain vanilla Livermore thread.

 

I don’t know how they affected him intrapersonally… from what I’ve read in this thread you could comment more accurately about how his blowups and huge drawdowns impacted him subjectively than anyone. ... and his early death (which posters continue to obsess on) was also plain Livermore or even ‘Pre Livermore – not Beyond.

So, anyways, when I realized that his blowups and huge drawdowns didn’t seem to significantly degrade his rather well ‘served’ lifestyle, there wasn’t much Beyond left for me to explore. Going Beyond would only be an exercise in my imagination... for which there are better uses right now...

 

Last edited by tradingwizzard; 11-01-2014 at 03:39 PM.

[wmck6167 10]

  mitsubishi said:

Yeah.Like Jesus he lived on the edge and died early,so became a legend.If he'd been an actor-James Dean.If a rock star-Jimi Hendrix.

Some people are just born to be great and the rest of us ain't.

Some of us become great,but,again,very few.

Some have greatness thrust upon them-and fail miserably.

 

But when you have greatness thrust upon you,much depends on luck

 

Was Churchill great? What if we had lost the war.would he still have been great? Because despite all our engenuity and courage,the fact is if Hitler hadn't switched from bombing airfields to bombing London,the RAF would have lost the Battle Of Britain not from lack of planes,but lack of trained pilots.And why did he switch? because of Dresden.Did we plan to burn an entire city or was the weather a bad/good luck factor?

 

Remove luck from the world and the already limited opportunity for greatness dwindles even further.

So anyone who thinks luck doesn't play a part in trading must believe they're operating in a non human paradigm.

But,you make you're own luck don't you? Isn't it more accurate to say you create a situation in which luck could happen?

Luck is an invisible and underpredictable (how are you today zdo?:)commodity and plays (a)part (;)heading back here soon at all?) in any skill based endeavour,BUT we are not talking about skill and luck (imo) when it comes to people like Livermore,we are talking about greatness and skill/greatness and luck.

So if you are reckless and blow your account,you could say Livermore was at times reckless so why is he great and you're not.?

Part of the answer is luck-recklessness either pays off or it doesn't.

Some of these great names in history were in a position where they were forced to take great risks.We are not.We can all make a million...on a simulator,so what does that mean?Real money prevents us becoming great? No.Many greats began life in poverty.

They didn't do it overnight though.So maybe it's a case of getting to a certain point which can become the launchpad for being great.But probably most people would ease back at that point rather than going all out for glory.Another reason why greats are few and far between.

Skill and luck is the best most of us can hope for..greatness is highly unlikely.

 

Just several personal opinions. Jesus was not lived on the edge. He knew our future and he die for us on purpose in order to change our future world. So if you know the future of your trading, you could be more successful, I think.

Luck could be created by planted seeds on righteousness and developed by hard working (thinking) in trading world, I believed.

I have a strategist behind me (he is pretty old:500BC) and I found that Mr. Livermore has some thoughts very closed to him, so I do not think he is lucky in 80% mindset part and he is greatest person in 20%part. He is a master, maybe just approaching the trading from different angles with other masters.

If I am not good at 20% part, but ok at 80% mindset part, Could we still make money? Could we hence embrace the lucky? The trading world is so amazing. Cheers and best for everyone for the prediction on the trend.

[wmck6167 10]

These days I am reading and digesting Mr Livermore’s book and there are several thoughts about the trading he conducted. Compared with Mr. Buffett, he learned stocks trading knowledge from Mr. Graham, Mr. Livermore did not have that kind of experience. But I guess that he paid great attention with his whole heart to observe the numbers moving in stock market and developed a very effective method on his trading based on his sensitive observation and interaction with these numbers. It’s so great to observe the Pivotal points. Guess what, if you stay focus on these numbers (or curves) in the market without distractions, probably you will build up a very close relationship with them. The number and curve are “LIVE”. However there are more, he was able to penetrate these numbers and obtained the wisdoms from other side of windows in the stock market. I believe that he opened a window for knowing more insight on the human mind. Interesting thing is these wisdoms are coincident with my experiences obtained from other sources which developed gradually during self-learning stock trading.

 

I conduct trials based on his method; I did not make profit, but provide me an opportunity to see through my inner world and courage to change myself. In the past, I obey the masters’ knowledge and strategy, and they guided me and I make money. Now I found that I was doing the trading by myself. All of the masters are now standing behind me, not ahead of me anymore. It’s very exciting to see these kinds of growing on my trading journey.

 

Well, I do not believe that counted on Mr. Livermore method wholly could make the money easily. Just as he said, it is still “YOU” to make the money. Cheers and Good luck.