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Trade Like Jesse Livermore (Wiley Trading)
ISBN: 0471655856     Date Published: 2004-10-21     Author(s): Richard Smitten
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Hardcover
Wiley
220 Pages
 
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06/20/2013 01:29:09
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Editorial Review - Book Description:
The secret to Jesse Livermore`s legendary trading success
Although he began his career in 1892, Jesse Livermore is still considered to be one of the world`s greatest traders. In life and in death, Livermore has always been a controversial figure and his methods held up as a model for traders of all generations. Through 45 years of trading and market observation, Jesse Livermore determined that stocks and stock markets move in a series of repetitive patterns. He then developed a series of unique tools, using secret formulas and equations that allowed him to identify and interpret the movement in stocks with uncanny reliability. In Trade Like Jesse Livermore, author Richard Smitten explores the technical aspects of Livermore`s trading approach and shows readers how they can use these techniques to garner the success Livermore once did. Trade Like Jesse Livermore covers every aspect of Livermore`s trading methods, from discerning market behavior and trends such as top-down and tandem trading to paying close attention to indicators such as one-day reversals and spikes. With this book as their guide, readers can learn how to trade profitably without fear or greed.
Richard Smitten (New Orleans, LA) is the author of numerous books including Jesse Livermore: World`s Greatest Stock Trader (0-471-02326-4), The Godmother, Capital Crimes, and Legal Tender.
 
Customer Review:
Total Reviews: (5)
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44 of 46 People found the following review helpful.

DONT WASTE YOUR TIME & MONEY ON THIS BOOK!!!, June 26, 2005 ByMing - See all my reviews This review is from: Trade Like Jesse Livermore (Wiley Trading) (Hardcover) 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!
 
55 of 60 People found the following review helpful.

Do not waste your money., December 30, 2004 ByD. Gard "Moneytiger" (Mission Viejo, CA United States) - See all my reviews This review is from: Trade Like Jesse Livermore (Wiley Trading) (Hardcover) 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.
 
10 of 10 People found the following review helpful.

its just like the books by smitten, March 27, 2007 ByAndrew S. Morris "love de markets" (Auckland, New Zealand) - See all my reviews This review is from: Trade Like Jesse Livermore (Wiley Trading) (Hardcover) 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
 
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