If you’ve visited my website, shortmetina.com you’ll realize that I’ve been trading the markets for over a decade. Like most traders, I blew up a few accounts. Lost tons of money in hefty tuition fees and came very close to giving up on the markets because it seemed so random.
After some years, the markets became less noisy and things started to make sense. I saw some successes but I truly believe, I arrived as a trader after reading Edwin Lefevre’s Reminiscences of a Stock Operator. I can go on and on about this book but it would only serve as a spoiler for my readers. Before quoting ten "spot-on" quotes from the book, I will leave you with this interesting fact. Although the book was first published in 1923, it remains very relevant in todays trading climate. There is nothing new on Wall Street. Enjoy Speculators.
5. “I should have walked and not sprinted”.
6. “Losing money is the least of my troubles. A loss never bothers me after I take it. I forget it overnight. But being wrong—not taking the loss—that is what does the damage to the pocketbook and to the soul”.
7. “Sell down to the sleeping point…”
8. “When a man makes his play in a commodity market he must not permit himself set opinions”.
9. “The speculator’s chief enemies are always boring from within.”
10. “The professional concerns himself with doing the right thing rather than with making money, knowing that the profit takes care of itself if the other things are attended to.”