![]() ![]() Not a fun place to be.Īfter getting his first lesson in going bust, The Boy Plunger left New York to go find action in the game he knew: gambling in Bucket Shops. These execution delays were sufficient enough to render his particular strategy developed in the bucket shops useless and he quickly found himself broke in the Big Apple. If he put in a market order, he would have already missed the minor move that he was betting for. If he attempted to put in a limit order, his trades wouldn’t be filled. He wasn’t aware that there would be a delay in the execution resulting in the trade being executed at a different price than what he originally placed the market order for. He expected to be able to do the same thing except through the means of legitimate brokers. He arrived in New York City with $10,000 that he had earned scalping micro fluctuations back at the bucket shop taking advantage of quick execution (because there was no execution actually occurring □). There was only one place that was obvious to go: It ultimately got to the point where he was no longer welcome in ANY of the bucket shops and so he quite literally dried up all of the action in Boston-area bucket shops. Because of the way that bucket shops take bets and don’t actually buy any assets, they counted on losing customers and got sick of paying out the youthful Boy Plunger. His reputation as a major winner became well known and eventually he had to resort to the tactic of wearing a disguise in order for his bets to be accepted at the bucket shops. He made 62.4% profit on the trade, a cool $3.12, and it wasn’t long before The Boy Plunger was earning significantly more betting at the bucket shops then he was back at the brokerage firm posting prices. Jesses checked his record book to find that he believed the stock to be going up as well, so they headed over to a Bucket Shop ) and Jesse bet $5 on the stock to go up. One day a young friend of his approached him and told him he had a tip that Chicago, Burlington and Quincy was going to go up the next day and proposed the idea of buying some. He began keeping a record of his predictions just for the sake of measuring his accuracy and he found himself to be accurate far more often than not. In very little time he began to realize that he had a natural aptitude for major price moves and changes. This job afforded him much time to observe the price fluctuations throughout the day. In 1892, at the age of 15, he ran away to Boston and took on a job posting the stock quotes at the Paine-Webber brokerage firm. Jesse Lauriston Livermore, who would later come to be known as The Boy Plunger and The Great Bear of Wall Street, was born in to an impoverished family in Shrewbury, Massachusetts on July 26th, 1877. Most information to help you learn and practice can be found in our wiki. Related Subreddits (see the rules above for related subs as well) Read here for more info.Īlmost any post related to stocks and investment is welcome on /r/stocks, including pre IPO news, futures & forex related to stocks, and geopolitical or corporate events indicating risks outside this is offtopic and can be removed. Consider posting to r/SPACs, r/pennystocks, or r/weedstocks instead. No penny stock discussions, including OTC, microcaps, pump & dumps, low vol pumps and SPACs. Non-ETF-related Crypto goes on r/CryptoCurrencies info. No bitcoin or crypto discussions unrelated to stocks. Trolling, insults, or harassment, especially in posts requesting advice, will be removed. Posts regarding this topic will be automatically removed. ![]() The Robinhood app should be discussed in /r/Robinhood. Low effort mentions for meme stocks will be removed, see here. Instead, advertise here.Ĭontext & effort must be provided empty posts or empty posts with links will be automatically removed. Spam, ads, solicitations (including referral links), and self-promotion posts or comments will be removed and you might get banned. Rules (in depth rules wiki here)ĭisclose any related open positions when discussing a particular stock or financial instrument. Almost any post related to stocks is welcome please read the rules below:Ĭlick here to find how many days old your account needs to be and how much karma you need before you can comment or post to r/Stocks. ![]()
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