How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All time

by John Boik

Learn how to generate profit, from history's most celebrated traders including William J. O'Neil, Jesse Livermore, and others. In How Legendary Traders Made Millions , award-winning investment author and historian John Boik has created the first book to put the strategies of history's top traders in one place. Revealing how each trader took advantage of distinct market situations, it details the hands-on specifics of each trade as well as the economic, political, and stock market environments in which the strategy flourished.

Genres: Finance, Nonfiction, Money

269 pages, Paperback

First published March 23, 2006

Reviews

[Vitalijus Sostak · Rating 5 out of 5]

Interesting premise: the book follows the main events in the markets from 1900 till 2004 and how legendary traders - Livermore, Wyckoff, Loeb, Baruch, Dreyfus, Darvas, O'Neil - reacted back then, what were their actions, reasoning, wins/losses and results.

It mainly highlights CAN SLIM (O'Neil's) methodology, with general lessons being:
- Carefully study the history and use it as a guide
- Identify the trend
- Buy market leaders early in the rise cycle, pyramide them later on, sell into buying climax and short them into the decline cycle
- Do not listen to anyone's opinions
- Keep on improving.

Favorite quote: "Knowing the future is not important, knowing the trend is."

Recommended.

[Alice Lam]

The author is pretty funny..... somehow I managed to laugh out loud a few times for a book that's generally a rather serious record of Ren Tech's development.

Appreciate the effort in uncovering the otherwise very secretive story of how Ren Tech is built.

[Michael · Rating 5 out of 5]

Some good insights from the greatest investing minds ever. History repeats and the book gives details of many past market cycles. Some of the key traits for success are patience, discipline, risk management, and learning from mistakes.