Why is Jesse Livermore a respected trader given his track record of blowing up?

Jesse Livermore is a respected trader among elite traders. Given his track record of blowing his trading account a couple of times, why is this so? Furthermore, he ended up blowing himself up with a gun to his head. Why is he considered a great trader? What are the mistakes that he made to have such a tragic ending?

 

Because his book shows a clear understanding of the market. It is also well written and witty.

 

Performance speaks for itself -- regardless of having the rare occurrence of blowing up one's account.
'dieing' (or suffering a big loss) is inevitable in life and in trading. -- it's how you perform, or live during your life, that matters.

In trading, we're all more or less, living and dieing by the sword. tip toeing around...never knowing if there's a land mine a couple feet away from us.
the perception or illusion of being in control is not reality. -- i heard that line in a movie, i think.

 

...for the same reason we talk about Vic Neiderhoffer all the time. He blew up repeatedly also, but we've devoted an incredible amount of text to him on this site.

 

So OP, all these questions you have been throwing at us in the last 2 years, how did they help you to become a better trader? Also, the search button is on the top right...

 

yes helpme...I thinks its time you starting adding to the forum instead of just asking...always asking

 

I wouldn't be surprised if OP is MS.... Trying to generate "business" for ET...

 

Because his personal life ruined his trading life.
As far as I can remember, he went off the rails when his second wife shot one of his son, Jesse Livermore Junior. Moreover, Jesse Livermore Junior was several times in jail...

If you want more details :
Jesse Livermore: World's Greatest Stock Trader
Smitten, Richard

As good as Edwin Lefevre's book!

CM

 

Yes, I will. The reason I have been asking and not answering is that in matters of trading and investing, it is easy to harm when you don't know much but try to answer questions as if you know a lot. Better ask first, accumulate knowledge, then start answering questions like an expert. I am not an expert. At least, not yet but hopefully I can become one in future.

 

Because he was among the first to articulate what trading is all about. And because he made a lot of money several times, at moments when most others were losing their shirt.