Few things I learned from the Chapter 5, Reminiscences of the Stock Operator:
1. No diagnosis, no prognosis; no prognosis, no profit
2. If he pushes the confidence to its logical limit he is bound to get broke. ( Which means overconfidence may lose money)
3. Both right and sitting tight is the hardest thing to do
5. Without faith in own judgment no man can go very far in this game
6. The nicest way to capitalize the increasing assets was by not cutting down living expenses. In a way, meaning that there is no need to deprive good things in life
But, when comes to trading world, how many people can actually do it??
-Jinn-
1. No diagnosis, no prognosis; no prognosis, no profit
2. If he pushes the confidence to its logical limit he is bound to get broke. ( Which means overconfidence may lose money)
3. Both right and sitting tight is the hardest thing to do
4. Study the general condition, take a position and stick to it. Hold the position until you believe the bull or bear is over
5. Without faith in own judgment no man can go very far in this game
6. The nicest way to capitalize the increasing assets was by not cutting down living expenses. In a way, meaning that there is no need to deprive good things in life
But, when comes to trading world, how many people can actually do it??
-Jinn-
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