It is rather interesting to learn that this book is a 20th century publication but its ideas are still as fresh and as relevant as ever. Written by Edwin LeFevre, the text is a moving description of the experiences of Larry Livingston, the protagonist. It should be lost on readers that Larry Livingston is just a pseudonym for one of the most famous historical traders, Jesse Livermore.
The protagonist does not give a hoot whether he is long or short but simply wants to be correct. He strives to figure out areas of little resistance so that he can pursue them to their bitter ends. If he were alive today, he would be chasing the momentum/price actions on the stock markets and would probably be as successful as any other financial market trader. This is because the book is a compilation of the trading rules one can follow in the stock markets.
The book continues to attract generation upon generation of traders due to its evergreen trading rules. It contains insightful information concerning the movement of market prices. It seems to be presenting an astounding theory: that to be successful on the stock market, you must learn to be a good speculator.