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Jesse Livermore was an old school trader. Way back in the 1920's, and even before. He got his start in bucket shops. These were kind of like off-track betting places, but for the stock market. The guys that ran them weren't even connected to the markets. But they used the actual prices from the markets. They only allowed people to trade on the most active stocks. People would buy or sell, but they wouldn't actually buy or sell. The guys running these bucket shops would take their money, and record their buying price. The idea was similar to a bookie