Customer Reviews

Trade Like Jesse Livermore (Wiley Trading)

5 star:		(1)
4 star:		(0)
3 star:		(2)
2 star:		(1)
1 star:		(1)

 

 

If you thought you would learn the actual methods of how Jesse Livermore traded, you are WRONG.

Gives a quick outline of how Livermore traded, like 'pivotal points' but teaches you NOTHING about how to apply them.

Illustrations are very poor, just a few trend lines which any newbie could have drawn straight out from stockcharts.com

The only moderatesly useful point may have been the emphasis of the 'time stop' where Livermore states that if the stock doesn't react in a few days, get out.

The "Livermore Secret Market Key" was a total scam, once again showing and teaching you NOTHING.

Repeats about 1/4 of the book in the summary by directly cutting and pasting.

If you would like to learn more of Livermore's methods, go read Reminescences of a Stock Operator.
I'd rather have read that one more time than waste my time and money on this book. Huge buyer's remorse!

If you read Reminiscences of a Stock Operator, then you know Livermore's rules. As for the secret trading method (Smitten calls Pivotal Point Trading).... it boils down to trendlines. That is it. The book is so similar to the books of William ONeill I was expecting an IBD subscription card to fall out: 1. Watch the top industry groups for market signals. 2. Watch the top two stocks in each market group. 3. Cut losses at 10% (IBD is 8%). 4. Watch for volume to be up at least 50%. 5. Do not average down. 6. Buy on breakouts to new highs. etc, etc, etc.

i have read all of richard smittens books about jesse livermore. they are all very much the same. they have identical passages in different order. the trade like jesse livermore i reckon is the best or 2nd best after how to trade in stocks - due to the flow/order. i reckon first read reminiscences of a stock operator and then one of richards smittens books. richards smittens books is also about 60% repititive to reminiscences of a stock operator which i think is okay

I mean either Smitten does not get it himself or he just plain does not want you to know....
A good book on the rest and the phsychology....

Explains system and psychology of one of the world's most famous traders - especially useful in today's market