This is one of the best articles dealing with the trading principles advocated by the fabled Jesse Livermore.
He is best know for making and losing several multimillion dollar fortunes, and for short selling the stock market crashes in 1907 and 1929. When just about everyone lost money in 1929, he was worth $100 million after his short selling profits.
He stated on p.159 of “Reminiscences of a Stock Operator”:
“I had learned a great deal about the game of stock speculation, but I had not learned quite so much about the play of human weakness”. This proved to be all too true for him.
In 1932 his second wife Dorothea divorced him on ground of desertion and gained custody of their two bodys Jesse Jr and Paul. Six months later he married 38 year old Harriet Noble whose previous four husbands had all committed suicide. Seven years later he took his own life at 63 years of age, leaving his family bequests of just $US 5 million.