Reminiscences of a Stock Operator Annotated Edition

best ever

this book washighly clamied as the best and most common book read among traders . When asked 9 out of 10 real traders have all read this book this book is genus .Aperson can learn alot about the stock price and numbers and how people think when it come to stock prices people use round numbers. If a person can lern the Fundaments of this book they can become a better trader in the long run. there is is not many book that have stood the test of time like this book. any person who wants to get in to trading should read .i relize how exacution time is key to taking razor thin profit and how with enough leverage you can make profits on thin margins

Lattamoney23

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Excellent Book, packed with knowledge

This is a great book and a must read.

We are experiencing our own era of leverage that is too high, and what happens when it breaks. The protagonist of the book, Jesse Livermore, aims for best advantage, and learns as he goes along, going broke several times in the process, and dying broke as well. Leverage cuts two ways. Live by leverage; die by leverage.

Trader77

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Full of Wisdom and Winning Trading Ideals and Methodologies

I couldn't believe the detail and depth of this book. It is more than just a look back of Livermoore's life but an insight to a winning traders mindset.

The funny thing is that everything Livermoore went through in the early 1900's is identical to what goes on in today's market. Concerns of stock manipulation, government intervention, high commissions, bubbles, and stock promotion are just a few of the hurdles discussed. It makes you ask the question "do markets really change?"

Livermoore was a trend trader by nature but definitely took a fundamental view as well on the market. I use the ideas discussed in this book everyday in my trading and I highly recommend it for beginners or professional traders. The Annotated Edition also makes a great Coffee table piece.

WallStreetNole

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books of all times

However, this book is a guide to your life as a professional trader/speculator and the pitfalls and roller coaster ride you will experience

Alex666

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Great Read

This is one of the most highly recommended books on trading I have come across. Almost everyone I have followed re:trading has this book near the top of their recommend list. It does not disappoint.

It is a quick read, easy to understand and very educational. It does not help with specific trading techniques but give a good overall view/comprehension.

Truman

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Recommended by many hedge fund managers.

Definitely a good read and insightful. Read this if you want to learn the mindset needed and determination to be a great trader =)

Qhedge

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Chock full of wisdom for the beginner and veteran alike

I just finished reading it for the third time in the year since I bought it and it speaks to me a little more each time. Not only is it an entertaining read, but the timeless wisdom it dishes out gets right to the heart of trading. I can see myself having to buy a new copy in a couple years, after reading it several more times. About every six months is a good schedule. The quote that stand out this time is something like, "General wisdom is never near as valuable as specific savvy." The book is simply riddled with gems like this.

Fbotticelli

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Best book about trading

Like Muhammed Ali, this book is undisputedly the greatest. A true & timeless classic that will endure for as long as people speculate, "Reminiscences" is to trading what Sophia Loren was to curves or Raquel Welch was to breasts...and then some. It really does require genuine market experience and multiple re-readings to gain the full benefit of the invaluable insights from this incredible book. Livermore was almost certainly the greatest natural talent in the entire history of trading - if he played basketball, he would probably make Michael Jordan look like a clueless 5'6" sophomore klutz. But unlike sport, trading requires discipline as well as talent, and Livermore was chronically deficient in the former. That he blew out multi-million dollar fortunes (back in the days when a million dollars meant something) repeatedly, and then came back with a few thousand and managed to run it up to millions again within a couple of years, not just once but several times, just goes to show what a unique trader he truly was.

So is this book going to help your trading, or is it just a fascinating look at a trading legend? Well, lots of professional traders have cited this as the most influential book on trading they ever read (see the laudatory comments in "Market Wizards"), and I can only second that opinion. There is really great discussion of trading techniques, such as the usefullness of adding to a position as the market confirms your original idea, how to trade in big size, how to read the tape to determine the market's underlying strength or weakness, etc. There are also great psychological insights - it is obvious that Livermore was a very introspective and perceptive man, at least in respect to his ability to trade.

In some ways this is a melancholy book - one can only imagine how much wealth Livermore would have possessed if he had been able to exercise even an ounce of discipline. Any pro trader who reads this book will see the man for what he is - a one-off whose like we will not see for many a year. The man makes current gurus George Soros and Warren Buffett look like a bunch of clueless high school students.

"Prices are never too high to begin buying or too low to begin selling."

"Always sell what shows you a loss and keep what shows you a profit."

"There is nothing like losing all you have in the world for teaching you what not to do."

"Millions come easier to a trader after he learns how to trade, than hundreds did in his days of ignorance"

This book is full of such timeless wisdom. Feast on it, and die disgustingly rich.

Breckburke

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Great book on the life of a trader

Edwin Lefevre's "Reminiscences of a Stock Operator" is a "fictionalized" memoir of the real-life trader Jesse Livermore - considered by some the greatest stock trader of all-time. Working in the early twentieth century, Livermore started from nothing and built multi-million dollar wealth multiple times, only to repeatedly lose it. Livermore was so respected and feared during his era that rumors of his trades would create and destroy fortunes on Wall Street. In this book, written in 1922, Livermore tells the

This book is not a full memoir of his life and instead focuses only on his "business." He only refers to his wife or personal life as it relates to his investing; for example, in one case, one executive "used" his wife by dropping some insider information to her over dinner in an effort to encourage Livermore to trade in that company. Livermore did, but - as someone who didn't believe in buying on tips - her instead shorted that company. Still, because he never focused on his personal life and rarely on his personal feelings, I was shocked to later read that Livermore killed himself twenty years later and had had four wives.

This book is full of "trading" (not investing") advice. Is any of his advice relevant today? While his techniques may not work for the modern trader, much can still be learned from this book. He says it best when he says that, although cadets at West Point need not study archery as practiced by the ancients, "Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield.... `The principles of successful stock speculation are based on the supposition that people will in the future will continue to make the mistakes that they have made in the past.'"

"Reminiscences of a Stock Operator" is written in a very matter-of-fact style that is easy to read. It is a very interesting book to read and a window on another era. Still, many of the lessons and strategies are still useful for the modern trader.

Soccerscott

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The Bible of Trading

Okay. Maybe using the term Bible is over-reaching but I have read this book probably about 8 times through my 15 year trading career. There is nothing in this book that is going to help you out with your trading on a technical basis. However, this book is a guide to your life as a professional trader/speculator and the pitfalls and roller coaster ride you will experience. I think every new trader should read this book and see what a life of trading brings. Some will embrace it while others will turn away from it. Very real.

MachTrader

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