When my story was published in the newspaper

Jesse Livermore $1 million A story of making millions of dollars in two years on an additional $50,000 loan while in debt. 1915-1917

[Book scrap]

When my story was published in the newspaper, I wanted to be in a rat's hole. In the past, even if I had a debt, I would always pay it all back. This was the first time I went bankrupt. I was so embarrassed that I couldn't even speak. I'll pay everyone back as long as I'm alive, but the people who read the article don't have a clue. I couldn't carry my face around after I was in the newspaper. But this was just a struggle after a while.

It's... it's... it's... it's... it's...

All I had was an offer to buy and sell 500 shares in my name. As a result, I wasn't allowed to do anything at my discretion, so I wasn't allowed to make any mistakes in the initial transaction. I had to raise money right away in the first transaction. The 500 shares I first bought had to be profitable. I had to make proper money.

It's... it's... it's... it's... it's...

Now that I think about it, I think that was a critical juncture in which my career as a speculative trader was decided or not. I had no promise when and where I would be able to raise money if I failed this time. That was a clear fact. I just waited for the golden moment to come. I didn't even look near Williamson & Brown. I purposely stopped going there and read the market price tape for six weeks. I could only buy 500 weeks, but I was afraid that I might be tempted to buy the wrong stock at the wrong time after going to the brokerage.

It's... it's... it's... it's... it's...

It's important to know how to read the market price tape, but I thought I should first learn about myself. As a result, I studied and considered how I reacted when the market was active and reached out to temptations that were difficult to avoid or when I was driven by impulses. It was the same mindset as when considering crop conditions or analyzing earnings reports.

Even though I was penniless, I was itching to sell it day by day. However, I sat in front of another brokerage house's asking price board, where I could not buy or sell even a week, and continued to study the market. I waited for a golden opportunity to see any transactions on the market tape. As soon as the signal dropped, I was going to run right away.

Bethlehem Steel was the stock I anticipated to be the strongest at this crucial time of desperation in early 1915. That's why the world knows it. I was confident that Bethlehem's stock price would fly higher, but I decided to wait until it passed the benchmark stock price because I had to make a decent profit in the first transaction.

It's... it's... it's... it's... it's...

Bethlehem Steel ran after one day and ran again after one day. I wanted to run to Williamson & Brown and buy 500 shares right away, but I held it in. I had to make the first deal as clear as possible.

Every time the stock price rose by 1 point, it was a $500 miss. If you had kept buying stocks using the minnowing technique, you could have rolled 1,000 shares instead of 500 when the price first rose by $10. If so, you would have made $1,000 for every dollar increase. However, I persisted without wavering. The guy named Lean and Faith begged me to jump in quickly, but I turned a blind eye and listened only to the consistent voice and common sense advice from my experience. Once you have a lot of money, you can only get a chance. If you don't have money, it's just a luxury you wouldn't dare to dream about even a small opportunity. After enduring for six weeks, I beat greed and expectations, and common sense finally won!

As the stock price rose to $90, my whole body began to tremble and sweat. Consider the money you blew when you didn't buy a stock you expected to rise. When it reached $98, he murmured, "Bethlehem will soon surpass $100. Then it'll blow through the ceiling!" The market price tape was also saying the same thing. What the market price tape said was not clear, so it was like shouting out loud with a loudspeaker. The moment the market price tape hit $98, I already saw $100. Really. I didn't hear nonsense with expectation, nor was I blinded by desire to see something in vain. That's what my instincts were claiming after reading the market price tape. I murmured again, "I can't wait until it hits $100. I should buy it now. It's like I've passed the benchmark."

I rushed to the Williamson & Brown brokerage and placed an order to buy 500 shares of Bethlehem Steel. The asking price was $98 at the time. I bought 500 shares for $98 to $99. Bethlehem Steel rose as soon as I bought it, closing that evening for $114 to $115. I bought 500 more shares. When Bethlehem Steel rose to $145 the next day, I sold the stock to make the foundation. It was hard-earned money. I had to wait for six weeks, but I have never been so tired and exhausted in my life. But it was worth it. I have the capital to make a big deal of it. In fact, 500 shares were less than this.

It's really important to get the first step in any business. Since Bethlehem Steel, sales have been smooth. It was hard to believe that the same person was doing it. In fact, they weren't the same person. I was now predicting the market with a calm mind after suffering from anxiety. There were no creditors to be bothered, and it wasn't a situation where they weren't bothered to think because they lacked funds or couldn't hear the true voice of their experiences. There was a profit from the sale as if it were sailing in the tailwind.

It's... it's... it's... it's... it's...

The following year, things got a lot better as luck seemed to be in full swing. As the market rose without hesitation, I bet my money on the rise. Things went smoothly. There was nothing I did except make money. I remember what the late H. H. Rogers of the Standard Oil Company said. Rogers said that there are times when he goes out without an umbrella and gets wet when he is caught in the rain and wind.

It's... it's... it's... it's... it's...

In early 1917, he returned to New York to pay off all his debts. It was worth more than a million dollars. Paying off the debt made him feel like he was going to fly away. I could have paid it a few months ago, but it was very