Trade Like Jesse Livermore

by Richard Smitten

The secret to Jesse Livermore's legendary trading success
Although he began his career in 1892, Jesse Livermore is still considered to be one of the world's greatest traders. In life and in death, Livermore has always been a controversial figure and his methods held up as a model for traders of all generations. Through 45 years of trading and market observation, Jesse Livermore determined that stocks and stock markets move in a series of repetitive patterns. He then developed a series of unique tools, using secret formulas and equations that allowed him to identify and interpret the movement in stocks with uncanny reliability. In Trade Like Jesse Livermore, author Richard Smitten explores the technical aspects of Livermore's trading approach and shows readers how they can use these techniques to garner the success Livermore once did. Trade Like Jesse Livermore covers every aspect of Livermore's trading methods, from discerning market behavior and trends such as top-down and tandem trading to paying close attention to indicators such as one-day reversals and spikes. With this book as their guide, readers can learn how to trade profitably without fear or greed.
Richard Smitten (New Orleans, LA) is the author of numerous books including Jesse World's Greatest Stock Trader (0-471-02326-4), The Godmother, Capital Crimes, and Legal Tender.

Genres: Finance

240 pages, Hardcover

First published October 1, 2004

Reviews

[Mike S · Rating 4 out of 5]

Very interesting book, I'm paper trading my first approximation of his system and so far it looks good. I have to learn to recognize the reversals and interpret them correctly, thinking of using point and figure to help with this, got a lot more paper trading and research to do.

[Rahul Chowdhury · Rating 2 out of 5]

It was an okay read. Most of the things are already covered in the books by Jesse Livermore and Edwin Lefevre. I found that in most of the places, the text was a direct copy of the other books.

[Madikeri Abu · Rating 3 out of 5]

“I do not take tips. I prefer to make my own mistakes—not the mistakes of other people!”.

This book is more like a biography than an investment guide. This one sheds light on the life and career of legendary stock trader Jesse Livermore, undoubtedly one of the greatest day trader in the stock market history, who made millions and lost millions trading and speculating stocks. Though 9 out of 10 day traders lose money in the stock market, this book nevertheless contains many valuable methods of trading technics including market behaviour and details on psychology of investors and top to trough movement and spikes and reversals indicators. Though he was one of the richest men in USA during its worst economic crisis eventually he lost all of it and at the time of his suicide his liabilities dwarfed his assets. An interesting read and recommended to those who are interested in venturing into day trading.

[Jas Reads · Rating 4 out of 5]

Pretty good reading, there is valuable information presented, however some parts were a copy of other Livermore books.