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2,824 posts
msg #45478
Ignore nikoschopen
7/5/2006 7:54:51 PM

Jesse Livermore's Stock Trading Tips & Comments

1. Remember that stocks are never too high for you to begin buying or too low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit.

2. If a stock doesn't act right don't touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit.

3. Always sell what shows you a loss and keep what shows you a profit.

4. The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have past.

5. Don't argue with the tape. Do not seek to lure the profit back. Quit while the quitting is good--and cheap.

6. Never buy a stock because it has had a big decline from its previous high.

7. There is only one side to the stock market; and it is not the bull side or the bear side but the right side.

8. The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you hope that every day will be the last day--and you lose more than you should had you not listened to hope--to the same pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out--too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. he must fear that his losses may develop into a much bigger loss, and hope that his profit may become a bigger profit. It is absolutely wrong to gamble in stocks the way the average man does.

9. A man must believe in himself and his judgment if he expects to make a living at this game.

485 posts
msg #45486
Ignore guru_trader
7/6/2006 1:46:04 AM

Niko, Thanks for the goodies

184 posts
msg #45487
Ignore as214
7/6/2006 1:55:48 AM

Jesse Livermore died broke with a self-induced bullet to the head. Value investing is the surest way to make money consistently over the long haul. Investors are consistently wealthier than traders.

2,824 posts
msg #45488
Ignore nikoschopen
7/6/2006 2:53:53 AM


I have not forgotten about you or ure fellow value-oriented investors. May I suggest that you download and read the following books at ure leisure?

Benjamin Graham, "The Intelligent Investor"
Benjamin Graham, "The Interpretation of Financial Statements"
Albert L. Auxier, "Honoring Benjamin Graham, The Father of Value Investing"

Download link (3 files in one RAR file, 4.96 MB):
http://** removed by stockfetcher **

2,824 posts
msg #45489
Ignore nikoschopen
7/6/2006 3:14:59 AM

Download instruction for Rapidshare can be found here:

The list of all the books uploaded to Rapidshare is maintained here:
http://** removed by stockfetcher **

2,824 posts
msg #45502
Ignore nikoschopen
7/6/2006 7:52:25 PM

My neurotic disposition tends to manifest itself in many ways, but If I were forced to choose just one trading book the following book would prolly be my choice. It's certainly not the most striking book, but one of the better written technical analysis books that has and likely will serve as a frame of reference for traders the world over.

John J. Murphy, "Technical Analysis Of The Financial Markets":

http://** removed by stockfetcher **

Book Description

John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.
"If one could read only one book on technical analysis, this should be the one." --Knight-Ridder Financial Products and News (on the first edition, Technical Analysis of the Futures Markets, 0-13-898008-X)

This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.

"One way to get started in technical analysis is to read a good book on the subject. One of my favorites is Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy. It's an easy read." Ralph J. Acampora, CMT, Managing Director, Prudential Securities Inc.

About the Author

John J. Murphy is President of MURPHYMORRIS, Inc., a producer of interactive educational products for technical analysis. A former technical analyst for CNBC and director of Merrill Lynch's Technical Analysis Futures Division, he is the author of The Visual Investor and Intermarket Technical Analysis.

Product Details

Hardcover: 576 pages
Publisher: Prentice Hall Press; 2Rev Ed edition (January 4, 1999)
Language: English
ISBN: 0735200661
List Price: $85.00

2,824 posts
msg #45540
Ignore nikoschopen
7/7/2006 10:38:58 PM

Jack Schwager's "Stock Market Wizards: Interviews with America's Top Stock Traders":

http://** removed by stockfetcher **

Editorial Reviews

Newcomers to Jack Schwager's series on top traders, as well as fervent fans of his first two entries Market Wizards and The New Market Wizards, will find that Stock Market Wizards offers another revealing look at a wide spectrum of trading styles through the eyes of 15 extraordinarily successful individuals. Transcripts of incisive Q&A sessions between Schwager and traders--including Michael Lauer, Dana Galante, Alphonse "Buddy" Fletcher Jr., and Claudio Guazzoni--examine the ways each approaches their specialty, whether it be value stocks, mutual funds, short selling, options trading, or other market niches. After brief but interesting introductions that place the subjects' trading practices into perspective, Schwager coaxes from them penetrating observations on setting goals, finding opportunities, learning from mistakes, and operating on a day-to-day basis. While some participants refuse to divulge proprietary practices, and Anthony admits that many traders' activities hold little relevance to individual investors, the basic doctrines nonetheless contain nuggets of wisdom that can be applied by many nonprofessionals. And, in the final "Wizard Lessons" chapter, Schwager details the 65 overarching principles (such as Trade Your Personality, Be Willing to Take a Loss, and The Importance of Setting Goals) he culled from these extensive conversations.

Interview with Jack D. Schwager

1. What exactly constitutes a stock market wizard?

I was looking for people with truly exceptional performance. One of the traders I interviewed, who is a fund manager, has realized an average annual gross return of 97 percentónearly five times the corresponding S&P 500 level! Now, thatís impressive. Another individual, who is a fund timer, has averaged 70 percent a year using trading systems he developed. They are representative of the type of people I sought out.

2. Werenít these traders taking very high risks to achieve such high returns?

Not at all. In fact, one of the essential criteria I used in my search was that high returns had to be achieved with low risk. Most people donít realize that in terms of performance measurement, return only has meaning relative to risk. For example, if a manager doubles the S&P 500 index return by buying all the same stocks using 100 percent margin does that make him a good fund manager? Of course not; he has only doubled his return because he has doubled the leverage and the commensurate risk. Indeed, it is the very fact that these traders achieved high returns while still keeping risk low that makes them remarkable.

3. Who was the most unusual trader you interviewed?

One of the people I interviewed is an Ohio farmer who trades stock indexes and bonds. In 1992 and 1993, he entered and won national trading contests with extraordinary returns of 563 and 322 percent. As verification of his subsequent performance, he sent me six years of his account statements. During this time, his annual returns ranged from a low of 30 percent to an incredible 1,422 percent! Despite his phenomenal success as a trader, he still runs his farm. He has used a large portion of his market winnings to buy up more farmland and to purchase antique farm tractors, which he displays in his own museum.

4. What is the biggest misconception that people have about the stock market?

I asked this exact question in several of my interviews. The most common response was that the incredible bull market of the past decade has deceived many people into believing that trading is a lot easier than it really is. As succinctly stated by the old adage, "Donít confuse a bull market with brilliance."

5. What are some of the traits of a successful trader?

Although the traders I interviewed were strikingly different in terms of their personalities and backgrounds, there were a few traits that were evident in all or almost all these individuals. Discipline is probably the closest thing to a universal trait among great traders. These traders all have precise methodologies and rules that they follow without exception. Another trait they all seemed to share was enormous confidence, sometimes bordering on the irrational. They all also seemed to be incredibly hard workers, often to the point of obsession, which is ironic considering that many people are drawn to the market because they believe it is an easy way to make a lot of money.

6. What advice would you have for novices?

Make your own decisions; never trade on other peopleís opinions. Develop a trading methodology that is consistent with your personality. Recognize that to win as a trader you need an edge, and if you donít know what your edge is, then youíre not ready to trade. Realize that becoming a successful trader will require years of experience and hard work, not to mention some innate talent. Understand that losing is part of the game.

2,824 posts
msg #45615
Ignore nikoschopen
7/10/2006 3:29:32 AM

Some say gaps are meant to be filled. Others say they're called gaps for a reason in that they're not supposed to get filled. Perhaps it's another twisted saga of the chicken and the egg paradox; I say "go figure". Whatever the case may be, I think you may find ure answer somewhere deep within the following books and articles.

Stephen W Bigalow, "Big Profit Patterns Using Candlestick Signals & Gaps";
Pristine's Cardinal Rules of Trading: Quick List for Gaps; The Power of Gaps

Download link: http://** removed by stockfetcher **

2,824 posts
msg #45633
Ignore nikoschopen
7/10/2006 5:27:47 PM

The following books are for the new breed of novices I have noticed of late in our midst. I hope you find them useful.

(1) Investing Online for Dummies, 5th ed.
(2) Online Investing Hacks

Download link: http://** removed by stockfetcher **

2,824 posts
msg #45639
Ignore nikoschopen
7/10/2006 6:00:14 PM

The following books are for the hardcore misers in us who live and die by the creed, "why buy now when you can buy cheaper?" Without further ado, it's my pleasure to bring you the Warren Buffett triology:

(1) How to Build Wealth Like Warren Buffett
(2) How to Pick Stocks Like Warren Buffett
(3) How to Think Like Benjamin Graham & Invest Like Warren Buffett

Download link: http://** removed by stockfetcher **

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