Wednesday, 11 February 2009

The Challenge of Speculation

"To invest or speculate successfully, one must form an opinion as to what the next move of importance will be in a given stock. speculation is nothing more than anticipating coming movements."....
"The good speculators always wait and have patience, waiting for the market to confirm their judgment.".....
".....you must entirely ignore personal opinion and apply strict attention to the action of the market itself. 'Markets are never wrong--opinions often are.'"
"...do not be too anxious to get into it (a stock). Wait and watch the action of that stock for conformation to buy. Have a fundamental basis to be guided by."

-Jesse Livermore

Source:
How to Trade in Stocks by Jesse Livermore

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