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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (8357)	8/1/2000 9:11:21 PM
From: TFF	of 12617

More Memorable Quotes from Reminiscences Of A Stock Operator ------------------------------------------------------------ It was never my thinking that made big money for me. It was my sitting...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 this that a stock operator 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 ignorance. ------------------------------------------------------------ Give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. ------------------------------------------------------------ Without faith in his own judgment no man can go very far in this game. That is about all I have learned - to study general conditions, to take a position and stick to it. ------------------------------------------------------------ Remember that stocks are never to high for you to begin buying or too low to begin selling. ------------------------------------------------------------ That is where the tape comes in - to enable you to decide as to the proper time for beginning. Much depends upon beginning at exactly the right time. ------------------------------------------------------------ If you begin right you will not see your profitable position seriously menaced; and then you will find no trouble in sitting tight. ------------------------------------------------------------ The public, with their eyes fixed on the stock market, saw little - that week. The wise stock operators saw much - that year. That was the difference. ------------------------------------------------------------ A speculator must not merely be a student, he must be both a student and a speculator. ------------------------------------------------------------ Tape reading was an important part of the game; so was beginning at the right time; so was sticking to your position. But my greatest discovery was that a man must study general conditions, to size them up so as to be able to anticipate probabilities. ------------------------------------------------------------ I knew that some day I would find out what was wrong and I would stop being wrong. I would then have not alone the will to be right but the knowledge to insure my being right. And that would mean power. ------------------------------------------------------------ A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking a loss - that is what does damage to the pocketbook and to the soul. ------------------------------------------------------------ The speculator is not an investor. His object is not to secure a steady return on his money at a good rate of interest, but to profit by either a rise or fall in the price of whatever he is speculating in. Therefore the thing to do is to determine the line of least resistance at the moment of trading; and what he should wait for is the right moment when the line defines itself, because that is his signal to get busy. ------------------------------------------------------------ In a narrow market, when prices are not getting anywhere to speak of but move in a narrow range, there is no sense in trying to anticipate what next big movement is going to be - up or down. ------------------------------------------------------------ Instead of hoping he must fear and instead of fearing he must hope.He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. ------------------------------------------------------------ A man may beat a stock or group at a certain time, but no man living can beat the stock market. ------------------------------------------------------------ A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets. ------------------------------------------------------------ I learned that the weaknesses to which a speculator is prone are almost numberless. ------------------------------------------------------------ Among the hazards of speculation the happening of the unexpected - I might even say of the unexpectable - ranks high. ------------------------------------------------------------ Observation, experience, memory and mathematics - these are what the successful trader must depend on.

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