Jesse Livermore - The first millions of Exchange - 1907

Jesse Livermore



Today we introduce you to one of the greatest traders of the last century. This is a punter Jesse Livermore. Livermore started trading yet in early adolescence 15 years as from the outset achieved remarkable success raising capital equal to the current $ 200,000, which continues his career as a trader.

Jesse Livarnor is remarkable trader, one of the pioneers in the financial markets. The reason to become a legend is that it is not perfectly predicted a financial crisis, and also the fact that traded in a time when information and the range of financial instruments and techniques were nothing compared to today. Jesse Livermore takes the path of the legendary traders back in 1907, when provides a breakdown in US stocks and subsequently full advantage of it. The result is more than impressive - $3 million a day, which equates to about 70 million in today's money.

Proof that Livermore was not just another lucky is that it is not simply kept their wealth, but many times it has increased after the next major collapse of the US market in 1929. While much of the American population lost their jobs and live in poverty, trade in the financial markets during the Great Depression of Livermore makes one of the few people in the world at that time, having state over $ 100 million.

Jesse Livermore is often called the "first true trader in the world."

Livermore used the volume and price of a stock to determine its future and movement. Livermore could be called "the father of technical analysis." He is the man for the first time introduced the terms "resistance" and "support" and many others. Some technical masters today based their strategies on the methods used by Livermore. One of the most important methods that Jesse followed was to get rid of quickly losing positions and add to the winners. That many investors find it difficult to comply with and not due to psychological reasons.

Lavarmor believed that successful targoviya needs a good frame of mind and body. He lived in splendid mansion on Long Island and every morning traveled to Wall Street with his personal yacht. Its trading methods are based on two basic elements - panic and secrecy. Where the mass player fears he got rid of his position at all costs nevertheless as falling prices of certain assets at appropriate diversification they will never become zero so after the market calmed down, prices to recover is significant. Livermore favorite phrase is: "no matter how much money do the markets important to be able to keep them."

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