Last night while imbibing some wine and enjoying the night scenery, a book on my book shelve caught my attention. It is "Jesse Livermore - Reminiscences Of A Stock Operator". This book was given to me as a gift from Eng during my last seminars and ever since I had been reading it whenever I got some time to spend.
Chapter 7 caught my attention where it talks about the adroitness, artifice, attitude and the street smart intelligence of great operators. It also mentioned about Jesse work ethics towards the stock market where he would study, practice and execute ingenious stratagem to see whether his judgment was right or wrong. Attached is an excerpt from the book itself. It's a short chapter but it's a must read for all who inspire to be a stock operator.
To me, this was all an important chapter because there were some highlights about probing, watching, losing and paying $ to the market to learn lessons and more importantly timing. All these are intangible elements towards becoming a hallmark stock operator and while we cannot do as well as BBs, we can improve our bargaining power and make good gains by selecting stocks they are shorting/longing and timing our purchases and sales to theirs. That in a nutshell has been the central theme of my strategy and blog.
Ronald K - Market Psychologist - The Big Speculator
