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.






4 comments:
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
Beautiful Blog ! You can Discussing and Earn Stock Market at http://www.onlimoney.com
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
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
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