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Jesse Livermore’s 10 Key Principles
#1 Livermore’s wealth was built primarily from big position trades that lasted for weeks or longer. He made his big money holding a trend not scalping or day trading. Which was very difficult in those days with commission costs and speed of execution. “Money is made by sitting, not trading.” #2 Livermore pioneered the idea of having big wins and small losses. He held large short positions through both the 1907 and 1929 stock market crashes and let the winners run. “It was never my thinking that made the big money for me, it was always my sitting.” #3 The quality of his trade entries is something he did ... (full story)
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