Here is the article.
Jesse Livermore is widely regarded as the greatest speculator who has ever lived. Below are his 21 trading rules that were relevant 100 years ago and will be for the next century. I've incorporated the community's posts/comments from the past month to demonstrate the timeless nature of these concepts. Enjoy!
1. Nothing new ever occurs in the business of speculating or investing in securities and commodities.
This is the day trader’s modus operandi: we wake up, scan the markets, prepare, and look for familiar price action, setups, or patterns to trade. Some traders watch a single instrument and become intimate with how it moves (#ES for example). Others stick to a basket of the same tickers, while another group trades whatever is moving that session.
We're all the same, however. Each trader is looking for high probability opportunities which have favorable reward-to-risk and are repeatable. If you want to be consistently profitable, then you must be consistent with your actions. Nothing new ever occurs once you've accumulated enough screen time.
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