Morning Traders April 6 Thursday

Morning traders,

more from the weekend STT, from Orwell this time around. Thanks mate.


Actually, since I'm on Jesse Livermore, I'll post a quote from Reminiscences of a Stock Operator:

"I have been in the speculative game ever since I was fourteen. It is all I have ever done. I think I know what I am talking about. And the conclusion that I have reached after nearly thirty years of constant trading, both on a shoestring and with millions of dollars back of me, is this: A man may beat a stock or a group at a certain time, but no man living can beat the stock market! A man may make money out of individual deals in cotton or grain, but no man can beat the cotton market or the grain market. It's like the track. A man may beat a horse race, but he cannot beat horse racing. If I knew how to make these statements stronger or more emphatic I certainly would. It does not make any difference what anybody says to the contrary. I know I am right in saying these are incontrovertible statements."

Plenty of people have taken big money from the markets at various times, but markets evolve, what works for a period doesn't work forever and your "consistent" profits are elusive. There's no holy grail, you work the odds in your favour with knowledge, experience and application, pay your dues along the way and eventually, hopefully, make an earn in proportion to your efforts


Have a good day all.