Actually, knowing that he killed himself is one of the things that makes his writing even more poignant to me. It underlines a lot of the things he did wrong (like "swinging his full line," i.e., not using risk management, and like eventually letting the market get the best of his sanity.) I think the book lists just as many "don'ts" as "do's," all of them critical to remaining successful and sane in the market.
Dad said page 234 was the most important: Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change but strategy remains strategy, on the New York Stock Exchange as on the battlefield. â¦..âThe principles of successful stock speculation are based on the supposition that people will continue in the future to make the same mistakes that they have made in the pastâ Daughter
I read that book years ago when I jut started trading. I thought it was great book. I definitely encouraged me to want to trade more actively and dream of making millions doing it. I am still dreaming.
I too read it when I was just starting out. I guarantee you'll get a lot more out of it now that you've been trading for a while. Check it out again!
since1997, I think I will reread it. Especially now that I have had experience trading. Just need to find my copy, I might have loan it someone.
You LEANT your copy to someone?!!! Oh, the sacrelege! I've lost/lendt out more than half a dozen copies of this book over the years. Finally learned to stop doing that. I actaully bought a leather bound, limited edition gold leaf page copy a few years ago and put it up there on the shelf with other treasures. Good luck trying to get it back from whoevery you gave it to!
Yes, he was a investor, not a trader. And so what? It made him a fortune. Dancing? Well, I suppose he also loved that. He had a life besides speculation. Anything wrong with that?