friday trading, page-66

Sara just on that earlier point. I have noticed a certain attitude that exists within a hotcopper sub culture which I think is a little dangerous. Whilst not really spelt out the inference somehow relates a bullish outlook with somehow being a happy, optimistic, positive prosperous well balanced person.....and to be bearish is somehow linked to being a negative, bitter, unsucessful person who only rejoices in the misery of others. A bear is much more likely to be the silent loner type that you would find rocking back and forth on his kitchen floor, curled up in the fetal position as he tries to block out the voices in his head telling him to kill and to kill again..........

I think every trader and investor should read "Reminiscences of a Stock Operator"...the life story of Jesse Livermore. This book will not tell you how to read charts or analyze stocks but rather it teaches you how to get your head right.

One thing from the book that really stuck with me was Jesse Livermore's attitude to the whole bull/bear thing. He saw himself as neither and was happy to switch in an instant from one camp to the other when the market turned...that way he could successfully make money on the way up and on the way down.

I have been guilty myself in the past of falling under "the spell" of that subculture thinking and it cost me $$$$$$.