Cách Thức Kinh Doanh Và Đầu Cơ Cổ Phiếu (How to Trade in Stocks)

How to Trade in Stocks is the only book Jesse Livermore wrote himself, published in 1940 shortly before his death, distilling four decades of speculative trading — across booms, crashes, and personal fortunes made and lost multiple times over — into a compact statement of his trading philosophy. The Vietnamese edition sold under this title is based on the widely circulated annotated version edited by Richard Smitten, which preserves Livermore's original seven core chapters while adding editorial commentary, biographical framing, and supplementary material (including Livermore's separate market-timing tool, the Livermore Market Key) aimed at helping modern readers apply a decades-old trading philosophy to contemporary markets and charting tools.

Livermore's own text is built less around specific stock picks and more around a repeatable process: identifying a stock's "pivotal point" — the price level at which a move is confirmed to be beginning — and only committing capital once that point is reached, rather than trying to predict a move in advance. He extends this into a broader philosophy of following market leaders rather than trying to catch every stock's movement, using time and price together (rather than either alone) to judge market conditions, and building positions incrementally as a trade proves itself correct rather than committing fully at the outset.

A second major thread, woven throughout the book's narrative sections, is money management and emotional discipline. Livermore is candid, in the sections retelling his own career, about the specific mistakes that cost him fortunes — chasing too many stocks at once, trading on tips rather than his own system, and allowing ego or impatience to override discipline — treating these personal failures as case studies as instructive as his successes. He describes discipline practices like locking away a portion of trading profits after every successful trade, treating market losses as a cost of doing business rather than a personal failure, and conducting a rigorous year-end review of every trade to understand exactly why each position won or lost.

Because the Smitten-edited edition this Vietnamese translation is based on adds substantial supplementary material beyond Livermore's original 1940 text — including guidance on applying his rules with modern computer-based charting, and a full reprint of Livermore's separate "Market Key" trading tool — readers encounter both the historical, first-person voice of Livermore's own writing and a layer of modern interpretive commentary explaining how his rules map onto contemporary trading practice.