Story 0f Legendry Trader Jesse Livermore

Follow Dhanraj Patil For More Such Content.

Introduction :

Jesse Lauriston Livermore (July 26, 1877 – November 28, 1940) was an American Stock Trader. He was considered as a pioneer of day trading. At one time he became one of the richest people in world. but this great story has a dark ending, when he commit suicide he had liabilities greater than his assets. Jesse Livermore used what is now known as technical analysis. His principles, including the effects of emotion on trading, continue to be studied.

Career :

• In 1891 at the age of 14 he secured employment as a bord boy posting stock quotes at a Boston, Massachusetts, branch of the PaineWebber stock brokerage, at the rate of $5 per week.
• In 1892, at the age of 15, Livermore made his first trade when he bet on five shares of the Chicago, Burlington and Quincy Railroad for $5.
• At the age of 16, he quit his job, began trading full-time, and from 1893 to 1894, Livermore, nicknamed by fellow traders "The Boy Plunger".
• From 1895–1897, age 18–20, he accumulated $10,000 trading profits, a one thousand per cent net return in three years of trading.
• On September 14, 1900, age 23, he moved to New York, arriving in time for a strong bull market in stocks. He traded successfully, on the long side, at Harris, Hutton & Company stockbrokers, turning $10,000 into $50,000 in five days.
• His first big win came in 1901 at the age of 24 when he bought stock in Northern Pacific Railway He turned $10,000 into $500,000.

Great Quotes By Him :

• “There is only one side of the market and it is not the bull side or the bear side, but the right side.”― Jesse Livermore.
• “The nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know.”― Jesse Livermore.
• “A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.”― Jesse Livermore.
• “If you have timed the movement correctly, your first commitment will show you a profit at the start.”― Jesse Livermore.
• “It has always been my experience that I never benefited much from a move if I did not get in at somewhere near the beginning of that move.”― Jesse Livermore.

Thank You Make Sure You Subscribe For More Such Content.