Reminiscences of a Stock Operator...

[iceman1]

Quote from maczter:

a subset of those previously mentioned, but they really hit home with me...

Page 22

The Desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.

Page 59

There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what not to do in order to win. Did you get that? You begin to learn.

Page 60

If a stock doesn’t act right don’t touch it; because being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit.

Page 68

It never was my thinking that made the big money for me. It always was sitting. Got that? My sitting tight!

Page 69

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

never read the book... is it a really good one??? :eek:

Ice



p.s. good quotes to post

 

[scalp100]

best trading book ever written. I wish they would make a movie out of it.

scalp

 

[maczter]

Can't say if it's the best since I haven't read but a small number of them, but it's certainly the best I've read.

 

[lilboy716]

i read it once.

& listen to it everytime i take a long drive. 9 cd's.

Quote from iceman1:

never read the book... is it a really good one??? :eek:

Ice



p.s. good quotes to post

 

[FredBloggs]

ive read it several times.

i learn some new stuff each time

 

[DTK]

Where did you get the CD's?
I really like rereading it when I can, but staring at a book is the last thing that I want to do after staring at a screen all day.

-DTK

Quote from lilboy716:

i read it once.

& listen to it everytime i take a long drive. 9 cd's.

 

[davelansing2004]

Quote from maczter:[/i]

"The way in which someone chooses to end their life doesn't change the wisdom of the lessons taught by the stories shared during their life before they chose to end it"

Just for historical accuracy, Livermore was suffering from inoperable cancer when he chose to end his life... Reminiscences of a Stock Operator, in mho, was probably the best book ever written regarding the psychology of the trader, and of the market place, by someone who actually traded for a living... much better than Tharp, Douglas, Elder etc.. If you can get your hands on it, read also Livermore's book "How to trade in stocks" (1940 original version, not the Traders Press update by Richard Smitten).

 

[ms_9901]

please Phoenix, give us some more wisdom. God#9, could you be more specfic, mdmbud that is amazing, you have a dual processor PIII. Damn. ChrisRT, Thanks. Avalanche, what a good name. Man, you must be rich as hell. why are you here. I bet Avalanche is knocking down a couple of mil a week. Well small snowball, whats up.

 

[maczter]

Quote from davelansing2004:

Quote from maczter:[/i]

"The way in which someone chooses to end their life doesn't change the wisdom of the lessons taught by the stories shared during their life before they chose to end it"

Just for historical accuracy, Livermore was suffering from inoperable cancer when he chose to end his life... Reminiscences of a Stock Operator, in mho, was probably the best book ever written regarding the psychology of the trader, and of the market place, by someone who actually traded for a living... much better than Tharp, Douglas, Elder etc.. If you can get your hands on it, read also Livermore's book "How to trade in stocks" (1940 original version, not the Traders Press update by Richard Smitten).

Found this Canadian re-print (unedited) of "How to Trade in Stocks"... http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=378&item=6907500286&rd=1&ssPageName=WD1V

 

[damir00]

Quote from alanack:

Everyone seems to agree that this is one of the best books ever written on the market... I'm curious to hear just why people think this is so..

when you read about people in the book saying "but it's different this time!" 100 years ago...then see people posting "but it's different this time!" on ET now...you realize just how little markets change.