A Jesse Livermore quote on braveness

Today, I suddenly remembered what Jesse Livermore once said….or Laurence Livingston said in Reminiscences of a Stock Operator, I should say.

Reminiscences of a Stock Operator

If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another
million salted away.

Well, Mr Livermore, that might be brave as you said. But it is certainly reckless, and such person is surely going to go bankrupt…as you did several times in your life.

I am chicken and only risk 2% of the capital in one trade. But so far the return is something I can be happy about.

There are lots to learn from his words and life. I don’t agree with him for everything, but every point he makes is what a speculator must stop and think time to time.

I found a nice page that has a collection of his quotes.

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Current risk exposure:

"","","","","$29,058.30","","","","","","","","","","","","","","","","","","","","41.95%","","","2.00%","","","","","","","","","","","","","","","","","","","","","","","","","","","",""
Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

Capital growth

From recent 100 trades (%) The growth right before the 1st trade is set to 0%.
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Total returns

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This is a normalized value: the return on each trade is normalized against the capital just before the trade execution. This way, it is eliminating the effect by the capital change from deposits and withdrawals. The calculation thus reflects the trading performance of each trade. The value does not contain unrealized profits and losses. RM's trading strategy never risks more than 5% of the present capital. Not including subtraction by tax.

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