Tuesday, December 05, 2006

Quote from 'Reminiscences of a Stock Market Operator'

The following is such a good quote that I couldn't but share it with all of you:

The training of a stock trader is like a medical education. The physician has to spend long years learning anatomy, physiology, materia medica and collateral subjects by the dozen. He learns the theory and then proceeds to devote his life to the practice. He observes and classifies all sorts of pathological phenomena. He learns to diagnose. If his diagnosis is correct, and that depends upon the accuracy of his observation, he ought to do pretty well in his prognosis, always keeping in mind, of course, that human fallibility and the utterly unforeseen will keep him from scoring 100 per cent of bull's-eyes.

And then, as he gains in experience, he learns not only to do the right thing but to do it instantly, so that many people will think he does it instinctively. It really isn't automatism. It is that he has diagnosed the case according to his observations of such cases during a period of many years; and, naturally, after he has diagnosed it, he can only treat it in the way that experience has taught him is the proper treatment.

You can transmit knowledge, that is, your particular collection of card-indexed facts but not your experience. A man may know what to do and lose money if he doesn't do it quickly enough.


You might want to read the book, but be warned that it was written about 75 years back so you could find it a bit old-fashioned.

29 comments:

Pramod Abraham said...

Yes what u said is true .But by not reading it One misses out on the working of a master Stock operator.He has made and lost millions on the market.
The situations can not be readly associated with current events. But definetly we can draw patterns as in the days of Jesse Livermore!
I will particularly advice this book to any one who wud like to short the market....Livemore's fav.In short the working of the mind of a market manipulator

Anonymous said...

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sharetipsinfo said...

Hi,

Indian stock market is one of the most volatile market. Its two main stock exchanges are NSEand BSE. Both exchanges generally follow same trend.

NSE and BSE offers platform for investment in Indian stock market. In India there are many traders who prefer NSE over BSE as they consider BSE
as more volatile exchange but truth is that all exchanges be it NSE, BSE or LSE are volatile and should not be considered as a place for speculation.
One should strictly follow technical analyses if they want to earn regularly from any stock market.

Please remember analyses of stock market be it technical or fundamental do help!!

Regards
SHARETIPSINFO TEAM

sharetipsinfo said...

Hi,

Indian stock market is one of the most volatile market. Its two main stock exchanges are NSEand BSE. Both exchanges generally follow same trend.

NSE and BSE offers platform for investment in Indian stock market. In India there are many traders who prefer NSE over BSE as they consider BSE
as more volatile exchange but truth is that all exchanges be it NSE, BSE or LSE are volatile and should not be considered as a place for speculation.
One should strictly follow technical analyses if they want to earn regularly from any stock market.

Please remember analyses of stock market be it technical or fundamental do help!!

Regards
SHARETIPSINFO TEAM

stockproindia said...

Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

BSE
NSE
stockproindia

sanjeev said...

This is a great blog document and much needed in ensuring that projects lead to value. It would be of great help to have some generic examples of benefit maps etc included in the guideline. I have just started out in the benefits management areana, find it very useful, but am still finding my feet on the practical application.

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BUZZINGSTREET said...

Dear Visitor,
Market is showing some good move. Nifty traders are now confused if they should go short in Nifty from current level of 5400 or should go further long. NSE and BSE are the two major stock exchanges of Indian stock market. Keeping in mind that many investors and traders are very much confused with the current market move, we have stared posting " title="technical research reports"> technical research reports These reports are highly accurate and are available for free.

Regards
Stock market investment if done with proper research and updated knowledge than it can give very lucrative results. There are four basic golden rules of stock market which are to be followed. (thebuzzingstreet1@gmail.com)www.buzzingstreet.com


Nifty is on its peak now and is turning volatile. Investors are suggested to book long delivery positions soon. As after some more upmove we can see profit booking in the market soon. Investors are suggested to grab quality stocks at lower level again.

buzzingstreet said...

Dear Visitor,
Market is showing some good move. Nifty traders are now confused if they should go short in Nifty from current level of 5400 or should go further long. NSE and BSE are the two major stock exchanges of Indian stock market. Keeping in mind that many investors and traders are very much confused with the current market move, we have stared posting " title="technical research reports"> technical research reports These reports are highly accurate and are available for free.

Regards
Stock market investment if done with proper research and updated knowledge than it can give very lucrative results. There are four basic golden rules of stock market which are to be followed. (thebuzzingstreet1@gmail.com)www.buzzingstreet.com



Nifty is on its peak now and is turning volatile. Investors are suggested to book long delivery positions soon. As after some more upmove we can see profit booking in the market soon. Investors are suggested to grab quality stocks at lower level again.

Stock Tips said...

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sharetipsinfo said...

Nice blog would like to add that NSE and BSE are one of the most superior stock exchanges of India. If you wish to earn good money from the share market then you need to understand the functionality of the stock market properly.

Indian stock market offers lot of earning opportunities still many less traders earn from it. Now the question is who earns from the share trading? To be honest only those who rely on stock research as no one can earn big by speculating in the market.

Regards
SHARETIPSINFO TEAM

SHARETIPSINFO said...

Hi,
Its true stock trading is not everyone’s cup of tea however one should try it to see if they have potential to earn money from the stock market or not.
Stock trading can only be rewarding if share trading is done with proper research. Those who believe in speculation will not sustain for long in stock market. Have fait on research tools and grab some stock market knowledge and see how much you can earn via just stock trading.
Regards
SHARETIPSINFO TEAM

sharegyan001 said...

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sharegyan001 said...

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sharegyan001 said...

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sharegyan001 said...

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SHARETIPSINFO said...

Commodity trading is gaining lot of popularity in India. MCX and NCDEX are most popular commodity exchanges of India. MCX and NCDEX both offers hi tech platform for commodity trading. Commodity trading should have clear picture like how they can earn money from ncdex or mcx trading and for that they need to track various listed commodities and should rely on research rather than speculation.
http://www.sharetipsinfo.com/share-market-investments.html

sharegyan001 said...

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way2profit said...

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sharetipsinfo said...
This comment has been removed by the author.
sharegyan001 said...

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Stock market trading said...

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commodity tips said...

Reminiscences of a Stock Operator in intraday tips , mcx tips is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the 20th century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over.

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BIGPROFITBUZZ said...

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