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Jesse Livermore: The Legendary ‘Boy Plunger’

1877:

  • Jesse Livermore was born on July 26 in Shrewsbury, Massachusetts, United States.

1891:

  • At the age of 14, Livermore began working as a stock ticker runner for Paine Webber, a Boston brokerage firm.

1892:

  • Livermore began his trading career by trading bucket shops, which were small, unauthorized gambling houses where people could speculate on stock prices.

1901:

  • Livermore made his first fortune by short selling stocks during the Panic of 1901, a market crash caused by the collapse of the Northern Pacific Railway.

1907:

  • Livermore made another substantial profit during the Panic of 1907 by short selling stocks, earning him national recognition as a savvy trader.

1929:

  • In the months leading up to the Great Crash of 1929, Livermore correctly predicted the market’s downfall and made significant profits by short selling stocks.

1934:

  • Facing financial difficulties and personal issues, Livermore declared bankruptcy.

1940:

  • On November 28, Jesse Livermore took his own life at the age of 63. He shot himself in the cloakroom of the Sherry-Netherland Hotel in New York City.

Interesting Facts:

Livermore was known for his ability to read market trends and manipulate stock prices through his trades, earning him the nickname “Boy Plunger.”

He developed several innovative trading techniques, including pyramiding and stop-loss orders.

Livermore’s trading style was based on his observation of the tape and his ability to interpret the emotions and psychology of market participants.

Livermore emphasized the importance of risk management, cutting losses quickly, and not letting emotions drive trading decisions.

Livermore experienced both incredible successes and devastating losses throughout his career, facing multiple bankruptcies.

Livermore’s life and trading career continue to be studied and analyzed by traders and investors to this day. His insights and strategies remain relevant in the field of technical analysis.

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