|
 |
 |
|
JESSE LIVERMORE ON HOPE AND FEAR: In speculation, when the market goes against you, you hope that every day will be the last day and you loose more than you should had you not listened to hope, to the same ally that is so potent as a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you will become fearful that the next day will take away your profit, and you get out - too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; 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. Reminiscences of a Stock Operator, by Edwin Lefevre Books of Wall Street, A Division of Fraser Management Associates 309 South Willard, Burlington, Vermont 05402 |
|
|
|
|
|