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How to Trade In Stocks By Jesse Livermore ( McGraw-Hill )
Release Date: 2006-02-17
Average Customer Rating:
List Price: $19.95
Price: $13.57
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Product Description
The Success Secrets of a Stock Market Legend Jesse Livermore was a loner, an individualist-and the most successful stock trader who ever lived. Written shortly before his death in 1940, How to Trade Stocks offered traders their first account of that famously tight-lipped operator's trading system. Written in Livermore's inimitable, no-nonsense style, it interweaves fascinating autobiographical and historical details with step-by-step guidance on: - Reading market and stock behaviors
- Analyzing leading sectors
- Market timing
- Money management
- Emotional control
In this new edition of that classic, trader and top Livermore expert Richard Smitten sheds new light on Jesse Livermore's philosophy and methods. Drawing on Livermore's private papers and interviews with his family, Smitten provides priceless insights into the Livermore trading formula, along with tips on how to combine it with contemporary charting techniques. Also included is the Livermore Market Key, the first and still one of the most accurate methods of tracking and recording market patterns
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 An essential item for any new trader
A good book for the new trader.
Follow the hints provided by Mr. Livermore, but, be careful; don't let greed to guide your trading decisions.
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 Nice story-telling book, not much more...
I had previously read the 'Remininscenses of a Stock Operator', which I found to be an interesting story and hence I decided to read this book hoping for some concrete trading ideas.
Unfortunately, it was a total waste o $13+pp and a few days' time.
The author uses some fancy terms (thought of by himself), makes some analogies to a friend of his from the army, but eventually I do not feel more educated even by the smallest of margins.
Any "advice" "offered" is very vague and the entire book is very thin.
Actually it leaves the impression of those $100 books sold on the internet containing the secrets that reveal the stock market's holy grail and will only be sold in a few houndred copies, so that only a few selected ones will be let into the "circle of stock market future tycoons".
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 Really magic - after sifting through some padding
I have read many books on trading and have to agree with many other reviewers here - Livermore's original text 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 (although I have just picked it up now on Wikipedia thanks to another reader's review). Trade in the strongest stocks in the strongest sector!
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one of the best stock trading books ( caoc_books )
This is one of best stock trading books. Many great traders do not have time to write books. This makes this one especially valuable. Do not expect to gain a same level if skills as Livermore by reading this book only, because the skills cannot be obtained by reading books. Just like practicing foot ball, dancing, playing piano, we can only acquire the skills via long time hard working and practice. As pointed by Livermore, his book is like a signpost pointing to right direction.
I have read many books by successful mutual fund managers. But this book is really more for the individual investors because the author himself is one of them.
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 Caution: A Rewritten Version of the Original ( anthony321 )
I have compared Livermore's original How to Trade in Stocks-The Livermore Formula for Combining Time Element and Price ©1940, with Smitten's Revised Edition ©2001.
The first seven chapters of Smitten, though titled the same as Livermore's original, have been altered. He changes the prices of stocks Livermore uses as examples (p.-5), rewrites sentences and substitutes words - e.g. starts substituting the phrase "money management" for "price" (p.-20). In addition, Smitten repeatedly recombines Livermore's original sentences into new paragraphs of his own design. Smitten's chapters 8-12 are not even in the original.
Perhaps Smitten was trying to clarify Livermore's sometimes awkward prose, but it would have been better to leave the original text as is, and add margin notes, footnotes, or separate chapter summaries. Anyone with a basic familiarity of technical analysis can extract the gist of Livermore's ideas from the original text.
Smitten's 2001 edition includes the Livermore Market Key as an appendix, wherein Livermore describes his method of keeping price records to identify meaningful movements in a stock, and this did appear to be an exact copy of that shown in Livermore's 1940 original.
Though Livermore's writing jumps around and can be difficult to follow, his original How to Trade in Stocks is pleasantly pithy - more terse and instructional than Reminisces of a Stock Operator.
A PDF of Livermore's 1940 original How to Trade in Stocks is available on the Wikipedia page for Jesse Livermore.
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