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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (43004)	11/12/2021 11:42:11 AM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Read Replies (1) \| Respond to of 97281

Jesse was the greatest trader of all time. I don't measure up to him and I don't intend to be as brave as he was. BTW, everyone talks about his 1929 short sell, but that is not his best trade. There was another major crash in the late 1800s that Jesse considered his best - not just because of his timing and the money he made, but because of how perfectly in control he was. Ultimately the Wall St. bankers and financiers came to him begging him to stop. And he did. Switching from short to long, he made even more money on the way up than he did on the way down. Another time he cornered the cotton market so completely that he was called to the White House. the president asked him, "Son, why do you want to corner this market?" He simply answered, "I just wanted to know if I could." then the president asked him to stop b/c people's livelihood was at risk. And Jesse gave up all he gains and walked away. I cannot see any hedge fund doing such a thing today. But Jesse didn't really care about the money. He just cared about the game.

To: Real Man who wrote (43004)	11/13/2021 1:21:18 AM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Read Replies (1) \| Respond to of 97281

Re: nearly all Great traders died broke and were making a living selling their system rather than trading This is from the new annotated version of the reminiscences book: One of Edwin Lefevre’s key messages in Reminiscences was that the stock market is an unbeatable game that chews up players without remorse. And judging from the trader profiles written as annotations for this edition, it’s easy to agree with that conclusion. Most could be shortened to read: “Born in poverty. Made a fortune. Lost it all. Died in poverty.” It was a rare player who could out-think and out-work his competitors, win big on a titanic scale, and exercise enough risk control to secure a generational fortune. Harriman, Rockefeller, Morgan and Baruch were able. Livermore, tragic hero of the saga, was not—though paradoxically his insightful ruminations on his flaws have proven to be a rich legacy.