Grupp: Huvudforum
lite Livermore
| Livermore was looking for the difference between stock gambling and stock speculation |
| ? |
| Livermore?s final conclusion was clear: To anticipate the market is to gamble; to be patient and react only when the market gives the signal is to speculate. |
| The first step was to concentrate on the overall market before making a trade. He would follow the line of least resistance - up in a bull market, buy long, down in a bear market, sell short. If the market went sideways, he would wait in cash for a clear direction to be established?. He would not anticipate the market by guessing its direction?.Livermore had come to realize that the big money was in the big swings?.It is the big moves that make the big money. |