Title: Reminiscences of a Stock Operator
Author: Edwin Lefèvre
For: Jesse Livermore
Language: English
Genre: Finance, Trading, Investments, Speculation
Published: 1923

Description

"Reminiscences of a Stock Operator" is a classic book that offers a glimpse into the life and mind of one of the most successful stock market speculators of the early 20th century, Jesse Livermore. This timeless tale, presented through the fictional character Larry Livingston, provides invaluable insights into the psychology of trading, the importance of market trends, and the challenges of timing the market.

#StockMarket #JesseLivermore #TradingPsychology #InvestingTips #MarketTrends #RiskManagement #financialwisdom #trading #audiobook #trader

Quotes

"The market does not beat them. They beat themselves, because though they have brains, they cannot sit tight."

This quote highlights the importance of patience and discipline in trading. Many traders fail not because of the market, but because of their inability to stick to their strategies and wait for the right opportunities.

"There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again."

This emphasizes the cyclical nature of the markets and the importance of studying market history and patterns.

"A man must believe in himself and his judgment if he expects to make a living at this game. That is why I don't believe in tips."

Livermore stresses the importance of self-reliance and the dangers of relying on others' opinions for trading decisions.

"It was never my thinking that made the big money for me. It always was my sitting."

Here, the value of patience is underscored again, suggesting that holding onto the right positions over time, rather than frequent trading, often leads to significant gains.

"The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street."

This quote warns against overtrading and highlights the importance of trading based on sound analysis rather than the need for excitement.

"Remember that stocks are never too high for you to begin buying or too low to begin selling."

Livermore points out the folly in waiting for stocks to reach a perceived value before acting, emphasizing the importance of acting based on market conditions and one's trading strategy.

"The only thing to do when a man is wrong is to be right by ceasing to be wrong."

This advice encourages traders to quickly recognize and rectify their mistakes, rather than clinging to pride or hope.

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

This stresses the importance of following the trend and not attempting to predict market tops or bottoms.

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Chapters
0:00 - Intro
00:70 - Ch 1
24:03 - Ch 2
51:08 - Ch 3
01:07:51 - Ch 4
01:36:30 - Ch 5
01:59:09 - Ch 6
02:21:38 - Ch 7
02:34:3 - Ch 8
02:59:17 - Ch 9
03:30:34 - Ch 10
03:56:57 - Ch 11
04:19:39 - Ch 12
04:48:19 - Ch 13
05:12:25 - Ch 14
05:43:48 - Ch 15
06:00:01 - Ch 16
06:28:53 - Ch 17
06:58:04 - Ch 18
07:13:09 - Ch 19
07:27:59 - Ch 20
07:49:53 - Ch 21
08:20:17 - Ch 22
08:57:19 - Ch 23
09:17:40 - Ch 24

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