When you start to understand the history of trading, you inevitably come across the name Jesse Livermore. He is not just a trader — he is the archetype of the speculator who defined how we think about market movements.

Livermore's life reads like a science fiction novel. The guy predicted the market direction twice with such accuracy that he made over 100 million dollars. For context: in 1929, this amount was roughly one ten-thousandth of the total US GDP. With that money, you could buy two Empire State Buildings or all of central Beijing. This is not just wealth — it’s a scale that’s hard to even imagine.

But here’s what’s interesting. Jesse Livermore earned these millions, but then lost everything. Not once, but several times. Emotional trading, breaking his own rules, aggressively increasing positions against the trend — all of this led him to bankruptcy. Livermore’s story is not only about how to make money in the market but also about how psychology can destroy even the most talented speculator.

In 1940, he ended his life alone. A tragic ending for a man who was once the king of speculation.

If you want to understand Livermore’s methods, his book "Reminiscences of a Stock Operator" is a must-read. And if you’re interested in his entire story, I would recommend watching the documentary material from Billionaire Bears on YouTube. It’s the best I’ve seen about Livermore’s life and his trading principles. Everyone serious about trading should see it.