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How To Trade In Stocks

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Category: Books
He made $3 million in a single day, went bankrupt four times, and was blamed for the crash of 1929. Jesse Livermore tells how he did it. Considered to be one of the greatest traders of all time, stock market legend Jesse Livermore made and lost...
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livermore method on how to trade stocks, pivot points
i read the book on the internet, from the 1940 livermore edition. however, i want to buy this book as it would be useful to have the rules and the examples available on my desk. i read the whole book today, but the meat is in how the system works, so i will need it for reference.

livermore's method is simple in design but a little complex to operate. i would suppose that as you get used to using it, the method becomes easier. i am planning to start keeping records in this manner and see how it comes out.

livermore advises you to select one or two leaders in a sector for comparison, and concentrate on only a few sectors. he thought that keeping track of too many stocks would make it more difficult to keep records and to see the big picture.

the only problem that i see with this book is that i am not clear about whether to use closing price or something else. however, i notice that there is only one entry per day for each stock. i think the charts in the back of the book must have been done by livermore, during his time period, and he uses those to illustrate how he applied the rules in the previous chapter.

another problem that i see with the book is that he discusses a three point difference and a six point difference, rather than a percentage. the examples that he uses start with the 40 price. i think it would have been better if he had expressed this as a percentage, because stocks have various prices. and the key prices are just the two leaders in the sector added together. i will have to adapt the rules somewhat, because they only fit the example shown, such as considering percentage instead of a numeric increase/decrease.

livermore recommends that you have at least one cycle, uptrend and downtrend, so that you can see the action of the stocks, before you invest.

all in all, i think it's a marvelous method and i will have to adapt it. i think i could produce a chart in about 2 hours right now, and maybe with practice, i could do this in 30 minutes or less.

i rate the book as a must-have reference.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Really magic - after sifting through some padding
This book contains Livermore's original text which is like gold. On some pages I found myself underlining almost every line. I found that the second two thirds of the book were filled with repeat quotes, repeated charts and some spelling errors. For the first third though I have given it 4 stars - the original text is hard to find. Trade in the strongest stocks in the strongest sector!

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Thomasonr Claremont

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How has this not been reviewed?
This book is in the same category as How I made 2 million dollars in the Stock Market and How to Make Money in Stocks. Its an excellent read that emphasizes the core fundamentals of waiting for ideal entries at Pivotal Points, cutting losers quickly, and concentrating your capital when good opportunities arise. Solid 5 stars.

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