How To Trade In Stocks

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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

Paperback: 224 pages

Publisher: McGraw-Hill Education; 1 edition (March 10, 2006)

Language: English

ISBN-10: 0071469796

ISBN-13: 978-0071469791

Product Dimensions: 6 x 0.6 x 9 inches

Shipping Weight: 14.1 ounces (View shipping rates and policies)

Average Customer Review: 4.0 out of 5 stars  See all reviews (95 customer reviews)

Best Sellers Rank: #54,522 in Books (See Top 100 in Books) #93 in Books > Business & Money > Investing > Stocks #196 in Books > Business & Money > Investing > Introduction #328 in Books > Business & Money > Finance

First things first. The most important thing to recognize about this book is that the majority of it (about 2/3) was not actually written by Jesse Livermore. It was written by Richard Smitten, a man who tries (and fails miserably) to create a sort of monologue of Livermore, complete with phony quotation marks, in which the great trader outlines his system. Having said that, Livermore's actual writings are very interesting. The first few chapters of the book is a word for word transcript of Livermore's original text, and contains much in the way of useful insight and helpful tips and information. The Livermore Market Key at the end of the book is also Livermore's creation, and it, too, is useful in its own way.The rest of the book is cobbled together by Richard Smitten, a man who seems to have made it his life's work to piggyback on Livermore's success in order to make a name for himself. Smitten took letters and interview transcripts and pieced together a phony Livermore monologue. It is unconvincing and a complete waste of time. The writing is abysmal, and Livermore's concise points and techniques (from the first part of the book, the part Livermore actually wrote) are repeated over and over and befuddled to the point that you have to remember that it is not actually Livermore speaking. Smitten's attempt to adopt Livermore's style of conversation fails miserably, and the whole of his work is tedious to the power of ten. I couldn't even get through it-I had to skip to the Livermore Market Key at the back.The book also contains some shameless self-promotion in which Smitten attempts to peddle his biography of Livermore onto the reader and also his trading system, which he shamelessly claims will help you trade like the great legend.

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