How did the old-timers trade financial markets?

Before the era of computers and charts, at the time where the price was all one had to make a decision, how did traders become profitable and successful?

Fortunately many of these "old-timers" wrote books that are still available today and they are very much worth the time and effort it takes to read them. Livermore, Wyckoff, Pugh, Schabacher, Dunnigan, etc, are all great reads and, in my opinion, more relevent than most of the indicator-based books and info that passes as trader education today. These men KNEW how to rightly interpret the subtle interplay between price action, volume, and crowd psychology. You are not going to find an indepth and usuable answer on a form. You need to go to the source.

Fortunately many of these "old-timers" wrote books that are still available today and they are very much worth the time and effort it takes to read them. Livermore, Wyckoff, Pugh, Schabacher, Dunnigan, etc, are all great reads and, in my opinion, more relevent than most of the indicator-based books and info that passes as trader education today. These men KNEW how to rightly interpret the subtle interplay between price action, volume, and crowd psychology. You are not going to find an indepth and usuable answer on a form. You need to go to the source.

 

Yup!!

 

And lots of time drawing/plotting charts etc. by hand.

Thanks tmalone. I will look into the authors you mentioned.

There is a "market wizards type" book describing the techniques of each of the early trading celebrities which has a section for each trader.

It's called A Treasury of Wall Street Wisdom - Harry Schultz

That sounds like it will be a good read. Thanks PhiSquared!

There is a "market wizards type" book describing the techniques of each of the early trading celebrities which has a section for each trader.

It's called A Treasury of Wall Street Wisdom - Harry Schultz

 

***Kudos for you***

 

PhiSquared, could you tell us what year of that book ?

 

I had searched on amazon and got this "

A Treasury of Wall Street Wisdom by Harry D. Schultz and Samson Coslow (Apr 30, 2001)

"

BTW, do you have his spinner indicator or its formular?

 

Thanks in advanced.

Edited October 19, 2010 by tradershare

That is it.

My paper copy is dated 1966 published by Investors Press.

It was reprinted by Traders Press in 2001.

 

 

I do not know his spinnner indicator.

Edited October 19, 2010 by PhiSquared2618

do you have his spinner indicator or its formular?

Thanks for your reply.