Reminiscences of a Stock Operator by Edwin LeFevre
This book was recommended to me by a professional trader I know who claimed that the book was a “classic” and a must read for any serious trader. After reading it myself, I certainly agree. I can’t say enough about this book and I easily rate it a five out of five stars.
LeFevre tells an engaging story about a super trader named Jess Livermore. It offers an engaging “over the shoulder” view and puts the reader inside Livermore’s head as he analyzes the market, places trades, and experiences the many ups and downs that come with trading.
As I read this book, I learned a lot about myself. I also picked up on many great ideas, antidotes, and invaluable trading and life lessons. Not only is this book a must read, it is a must read over and over again for all traders. I can’t say enough about it.
The following are a few random excerpts from the book that I have highlighted:
“If all I have is ten dollars and I risk it, I am much braver than when I risk a million, if I have another million salted away.”
“I always made money when I was sure I was right before I began. What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favored my play.”
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”
“Life itself from the cradle to the grave is a gamble and what happens to me because I do not possess the gift of second sight I can bear undisturbed.”
“A man must know himself thoroughly if he is going to make a god job out of trading in the speculative markets. To know what I was capable of in the line of folly was a long educational step.”
I've had this book for years, but unfortunately, haven't read it yet. I'll start on it tonight!
Posted by: E-Mini Player | March 11, 2009 at 06:47 PM
You will love this book! It is a great read and will certainly entertain and teach all at the same time. Let me know what you think when you're done.
Stan
Posted by: Stan | March 11, 2009 at 08:17 PM
Reminiscences of a Stock Operator is a 1923 book written by Edwin Lefèvre which tells a fictionalized version of the early years of the life story of Jesse Livermore; the Wall Street Journal describes the book as a "classic".First published in 1923, Reminiscences is a fictionalized account of the life of the trader Jesse Livermore.
Posted by: natural gas | June 25, 2009 at 03:55 AM