Famous traders
How famous traders traded
The methods of the traders who shaped modern trading: who they were, the principles behind their results, their exact rules and how to practise them on real charts. Paraphrased from their books and interviews.
1877–1940 · Stocks and commoditiesJesse LivermoreThe original speculator: trade with the line of least resistance, add only to winners and never average a loss.1983–1988 · FuturesRichard Dennis and the Turtle TradersProof that trading can be taught: a complete, mechanical breakout system with strict position sizing.1873–1934 · StocksRichard WyckoffRead the footprints of large operators: accumulation before markups, distribution before markdowns.1920–1977 · StocksNicolas DarvasA professional dancer who traded by telegram: buy strength out of boxes, protect every position with a stop.1933–2023 · StocksWilliam O'NeilStudy the biggest winners, buy the ones that look like them at the right point, and cut every loss at 7–8%.Active since the 1980s · StocksMark MinerviniOnly trade leaders in Stage 2, buy the tight pivot of a volatility contraction, and keep losses small.Born 1950 · Stocks and futuresAlexander ElderMind, method and money: a psychiatrist's complete framework, with Triple Screen entries and strict risk rules.Active since the 1980s · FuturesLinda Bradford RaschkeA short-term trader known for simple, repeatable setups and for trading what she sees, not what she thinks.Active since the 1980s · FuturesToby CrabelThe researcher behind the opening range breakout and the narrow-range (NR4/NR7) patterns.Active since the late 1980s · Index futuresAl BrooksRead every bar: who is in control now, and are traders trapped? Second entries in trends are his bread and butter.Born 1942 · FuturesLarry WilliamsKnown for winning the 1987 World Cup of futures trading and for the volatility breakout and Williams %R.Born 1946 · FuturesEd SeykotaA pioneer of computerised trend following: cut losses, ride winners, keep bets small and follow the rules.Born 1954 · Global macroPaul Tudor JonesA macro legend whose rules are mostly about defence: protect capital, use the 200-day average and seek 5-to-1 trades.Active since the 1970s · StocksStan WeinsteinClassify every chart into one of four stages and only own markets in Stage 2.1948–2015 · Trading psychologyMark DouglasConsistency comes from thinking in probabilities: any single trade can lose; a series of trades with an edge wins.Active since the 1990s · Forex and index futuresICT (Michael J. Huddleston)The educator behind much of today's "smart money" vocabulary: liquidity, fair value gaps, order blocks and killzones.
Summaries and paraphrases of public books and interviews, for education. Not investment advice.