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Chapter 2. Great Trend Followers > Jesse Livermore and Dickson Watts

Jesse Livermore and Dickson Watts

Ed Seykota found wisdom and inspiration through the work of Richard Donchian. Who else influenced trend followers? How long ago did this style of trading all start? Trend followers would point to Jesse Livermore, an early 20th century stock and commodity trader who was a trend follower before the term even existed.

Jesse Livermore was born in South Acton, Massachusetts in 1877. At the age of 15, he went to Boston and began working in Paine Webber’s Boston brokerage office. He studied the price movements and began to trade on their price fluctuations. When Jesse was in his 20s, he moved to New York City to speculate in trading in the stock and commodities market. Over 40 years of trading, he developed a knack for speculating on price movements. One of his foremost rules was, “Never act on tips.”


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