If the purchase of domestic warrants in 1992 counts as the starting point for me to enter the financial markets, a year after entering the financial markets, in 1993 when I was in the United States, I read the book "MARKET WIZARS", which was an interview with the top traders in the United States, this book had a great influence on me, and my trading system was based on the trading philosophy and methods of Paul Tudor Jones in the book. And combined with the principles of behavioral finance. Of course, in this book, everyone is a big winner, and there are many ways, which makes it easy for ordinary people to have cognitive biases that can win in the market. Statistically speaking, I should have read at least 9 books on traders' failures in the financial markets to be considered a balanced understanding of the industry. By the way, reading valuable books is certainly beneficial, but be careful not to think that reading more books is self-righteous, and don't think that you can do it if you know.
In the book "Financial Geeks", the author asks the masters what books are worth recommending to ordinary traders who are eager to succeed in the financial markets, and the most mentioned is "Reminiscences of a Stock Operator". In 1995, I bought this book, which greatly benefited me from the psychological insights of financial market participants, the deep understanding of the operation of financial markets, the revelation of wrong lessons, and the understanding of how to make money. See Jesse. More than once, Rivermore went bankrupt and was able to make a comeback with a small amount of money, which made me even more excited (I was young at the time). However, when I learned about the speculative fate of Rivermore a year later, my heart felt cool and cool.
I subscribed to the Wall Street Journal. On May 28, 1996, the newspaper published an article commemorating the centenary of the founding of the Dow Jones Index, in which jesse W. Bush was mentioned. Livermore, I also deliberately copied that passage on the last page of reminiscences of a Stock Operator. The main meaning translated is: in the social context of the time, there was a generation like Jesse. A figure like Livermore, he amassed a fortune by engaging in speculative trading in the stock market. In the summer of 1929, he went short, betting that the price would fall, but the price did not fall immediately, and as a result, he exploded, and his spirit began to decline and eventually fell into poverty, and he committed suicide a few years later.
I really don't know online about Jesse. What is the basis for Livermore's $100 million-dollar account of the 1929 U.S. stock market crash? Most of the online articles publicize his tendency to speculate in stocks, do futures and bulls, and accumulate wealth quickly, which will mislead the retail public.
About Jesse. Livmore, I would like to remind retail friends that one is that he began to devote himself to the stock market when he was a teenager, and success requires time investment. The second is that he has gone bankrupt many times, indicating that he neglected the management of funds. Third, it is difficult to achieve self-discipline, and after he has accumulated a large amount of wealth, he has made a wise decision to leave enough funds for his family and himself to live in the future, but he still can't hold on to the market and uses this money. Fourth, in the face of a special market that he had never encountered in 1929, he may have made the mistake of entering the market prematurely due to the psychological motivation of fear of missing out on opportunities.