Jesse Livermore, Seite 3: “The Game of speculation ist the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, not for the get-rich-quick-adventurer.They will die poor.”
Jesse Livermore, Seite 6: “There are times when one should speculate, and just as surely there are times when one should not speculate. There ist a very true adage: “You can beat a horse race, but cou can’t beat the races.” So it ist with market operations. There are times when money can be made investing and speculating in stocks, but money cannot conistently be made trading every day or everey week during the year. Only the follhardy will try it. It just is not in the cards an dannot be done.”
Jesse Livermore, Seite 7: “To invest of speculate successfully, one must form an opinion as to what the next move of importance will be in a given stock. Speculation ist nothing more than anticipating coming movements. In order to anticipate correctly, one must have a definite basis for that anticipation. For instance, analyze in your own mind the effect, marketwise, that a certain piece of news which has been made public may have in relation to the market… If you believe it likely to have a definite bullish or bearish effect marketwise, don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion because the effect marketwise may not be pronounced as you are inclined to believe it should be”