
25 Jesse Livermore Trading Rules - ca98am79
http://jbmarwood.com/jesse-livermore-trading-rules-boy-plunger/
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jnordwick
#13 paraphrased as the market is always right should be #1. In the book, it is
the one he presses over and over again. Take the beating the market gives you
and learn from it. If you are always blaming the markets for your losses,
you'll never learn. It is a very egotistical position that many seem to have.

I'm really surprised there isn't a point on the last for "you can't move the
market, just follow it" or similar. Livermore was consistently blamed for his
short selling driving the market. They called him the Boy Plunger. His
shorting was merely reading the markets better than others, not making the
market, and he believed you should never try to push the markets around - it
is losing proposition - instead you take what the market gives you.

I used to work with the former head of NYMEX and when I asked for a book
recommendation, this was the first book he mentioned, and it drastically
informed my trading and view of markets.

