“The stock market is never obvious. It is designed to fool most people, most of the time.”. The quote that first introduced me to Jesse Livermore, one of the best traders of all time.
The same can be said for the Forex market, or any financial market that involves buying and selling.
On a side note, “Reminiscence of a Stock Operator” is one of the most recommended investment books that traders can get their hands on.
Some of the best advice from the book, in my personal opinion, is
- “It would not be so difficult to make money if a trader always stuck to his speculative guns – that is, waited for the line of least resistance to define itself and began buying only when the tape said up or selling only when it said down”
- “Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was.”
- “Slow as my progress seems now, I suppose I learned as fast as I possibly could, considering that I was making money on balance.”
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