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Strategies & Market Trends : DAYTRADING Fundamentals
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To: OZ who wrote (7318)3/12/2000 4:59:00 PM
From: ahhaha  Read Replies (2) of 18137
 
"Reminiscences of a Stock Operator" by Edwin Lefevre. Lefevre ghostwrote the book from Livermore's recounting. This is all you need to know about him and he would have preferred that it is all that could be known. The book is a must for any would-be stock market operator. A stock market operator isn't a trader. Only stock market operators survive the business.

Livermore was the greatest. It took the greatest psychological crash in history to set the stage for his defeat. Livermore went broke many times. Maybe as many as 7. After about 4 you no longer fear it because those previous experiences demonstrate that you can always come back. The more busts you swallow, the greater you are at operating. The only people I am confident will survive are those who casually admit they have been rich n times where n >= 4. Livermore was one.
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