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Successful traders

Financial markets are full of surprises, allowing some to get enormous wealth while others (who unfortunately constitute the majority) lose all their capital. But being patient and seeking to master their skills still has many of those who initially lost the chance to become the lucky millionaires one day. On the other hand, those who became rich at first, and then became very confident and righteous, may one day turn into complete failures complaining of the injustice of financial markets. The stories of those failures are boring and monotonous and you can read them in any forum dedicated to trading, while the stories of those who succeeded and fall from the summit stepped up again without losing their confidence. Earn a lot of money in dealing with arbitrage Arbitrage is not rocket science. To maintain an individual's capital increase profits is a more difficult business. Many major traders and financiers became famous only after they were able to find their way in trading after a series of failures.

Jesse Livermore is an example of this trader. He was a trading genius that only made millions lose them and made them again. The press dubbed him the "Big Bear on Wall Street" because his business had an impact on the market, while the Knight had no secondary education! He began his business career at the age of 14, when a simple farmer son mastered a three-year course in mathematics in just one year. After doing so, he decided to look for any other trade except agriculture and leave his home. His initial capital was $ 5 and the clothes he was wearing. He fled to come to Boston. The concert in front of the bookmaker stopped. This coincidence generated a great career in commerce. It was 1891 and was hired by the bookmaker to write quotes from the stock exchange on the blackboard. The Office benefited from bets on price changes. Office acquired from letter losses. Having a mathematical mind and good memory Jesse noticed the duplicate numbers and began to record them. Understanding some regularity in repetition Jesse understood that changes in numbers can sometimes be predicted. His first winner bet was $ 3. Improving his skills quickly managed to become more accurate in his expectations and achieve great excellence. His teammates abilities made him call his Plunger Boy Wonder Boy. After earning his first capital, he paid $ 5 to his mother, adding $ 300 to help her escape. He soon became popular throughout the city and in one month his bets became banned in every city betting office, because he never lost the bet. This was not possible, as bookmakers earned their revenue from their losses. The bet on stocks enabled Jesse to improve his mathematical skills and develop his own prediction method which was based on technical analysis. Because Boston was too small for him, Jesse went to New York to make more money on the real exchange.

He came to New York after carrying $ 2,000 in his pocket. Become a stock trader with no idea about real stock trading. With no long-term forecasting skills, he managed to earn his first $ 50,000 by 1906 just to lose the amount of trading on the exchange and is quite different from betting with bettors. Bad luck didn't break it. He understood his mistakes and took measures to prepare himself for the next attempt. He returned to his first employer and began studying new analysis and forecasting methods to discover news analysis. His innate abilities, discretion and perseverance help him develop a new strategy within a very short period of time. He returned to trading during the same year to recover his losses and earn more. His success did not go unnoticed on the stock exchange, dubbed "One Day Millionaire".

It didn't take much time to justify the title. Jesse preferred the bear-style trading often lower prices for many assets. In 1907, his professional trading operations caused a stock market crisis when his bear-style trading led to the collapse of the entire US stock market. New York Stock Exchange owners had to ask him to suspend trading in order to restore the stock market. The collapse of the National Stock Exchange made Jesse a real millionaire. During the 1920s, the merchant was the most influential and wealthy with his own office with six clerks writing his quotes on a large painting in complete silence. He began to live extensively, buying expensive cars and yachts and offering expensive gifts to his wife and mistress. He also became a celebrity with T Press. He lost his fortune four times and every time he earned more, he returned victorious and paid off all his debts and losses.
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