Reminiscences of a Stock Operator

[MadMarketScientist 11]

Product Description from Amazon

299 pages. Reminiscences of a Stock Operator is adapted from a series of Saturday Evening Post articles written by Edwin Lefevre in the 1920s. The book narrates Livermore7s ascent from a "boy plunger" to the most influential speculator on Wall Street. While much of the book is devoted to Livermore's experiences, a larger part of the book deals with trading wisdom and rules that Livermore imparts through Lefevre. Years later, many trading and investing books repeat the very same rules first enunciated by Livermore in Reminiscences, such as: go with the trend; no stock is too high to buy or too low to sell; let your winners run and cut your losses short; make your own decisions; and market history repeats itself. Interestingly, Livermore frequently violated his own rules and usually lost money as a result. The enduring appeal to the book rests in Livermore's view that the market is made up of people and the excesses of the market reflect mass psychology and the mistakes of individuals are frequently the result of the inability to control fear and greed. Thus, the views and lessons of Livermore continue to be relevant to every new generation of investors and traders. Generations of investors have benefited from this 1923 masterpiece. Jack Schwager's new introduction explains why this account of Jesse Livermore, one of the greatest speculators ever-continues to be the most widely read book by the trading community. "The best book I've read--I keep a supply for people who come to work for me." - Martin Zweig

[TheNegotiator 13]

Possibly the greatest trading book of all time. A true traders gem. Out of all the books I let people borrow, this book will never leave my library. Reminiscences of a Stock Operator is a disguised story of Jesse Livermore, the greatest stock trader of all time. Although initially published in 1923, the trading wisdom and advice is still very valuable in todays markets. The markets may change but the people will never change. Jesse Livermore was one of the earliest tape readers of our times. As a boy, Livermore spent countless hours working for the local bucket shops staring at stock prices. He was able to build his trading edge after hours of observation of the ticker board. If you have yet to read this book do yourself a favor and pick it up.

 

There is plenty of market insight even for a veteran trader. The book is a real financial page turner and you will explore the history of wallstreet as well as the old school market manipulation tactics. You will learn about the tape and how Jesse Livermore was able to identify support and resistance through the ticker board. This should be a mandatory reading for all traders.

 

"After twenty years and many re-reads, Reminiscences is still one of my all-time favorites."

 

-Kenneth L. Fisher, Forbes