Choose your battle well

[Hlamie Jr]

The need for constant action is another trader killer as per Jesse Livermore.

And this is true.

Why do you want to always be in the markets like a slave?

In the end you end up getting addicted to the markets.

I was telling someone how I have not taken a trade in 4 days and they almost dropped their jaws due surprise.

You may fail to trade for even 2 weeks and end up getting making all your money in the last week of trading.

Chose your battles well this week.

Not every battle needs to be fought.

 

[mpap]

Jesse Livermore was an American stock trader who made a fortune in the early 20th century by buying and selling stocks on Wall Street. He is considered to be one of the most successful stock traders of all time. He was known for his ability to anticipate market trends and make large profits by buying and selling stocks at the right time.
He began his career as a "boy plunger" on Wall Street, making small trades with his own money. He quickly developed a reputation as a skilled and successful trader, and his wealth grew rapidly. He made several large fortunes over the course of his career, and he is said to have made over $100 million in today's dollars.
Livermore was also known for his use of leverage, which allowed him to make large trades with a relatively small amount of capital. He was able to take advantage of market fluctuations and make huge profits.
However, Livermore's success was not always consistent and he suffered from several large losses as well. He filed for bankruptcy twice, but always managed to come back and make more money again. He was also known for his aggressive style of trading and lack of diversification which at times led to heavy losses.
Livermore was also an advocate of "tape reading" and technical analysis, which is the study of past market data, primarily price and volume, to identify patterns and make trading decisions. He believed that the market action reflected all the fundamentals and that by studying the charts, it was possible to predict the future.
Overall, Jesse Livermore remains a controversial figure in the trading world, but his story and his methods still inspire traders and investors to this day.