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The Exchanges and Speculation

The Exchanges and Speculation


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917. Excerpt: ... Akin to the failing above noted is the tendency to too frequent trading. Men become obsessed with the desire to take advantage of every turn of the market. The result is that they act too frequently for their actions to be well considered. Speculation, a perilous occupation at the best, leads inevitably to ruin unless it is based on careful, close analysis of all available information. Experience shows, moreover, that speculators are reluctant to take losses, they are disposed to let them grow, tho they are quick and eager to take profits even when they are small. They are sanguine of temperament and lack the resolution to follow the familiar maxim of the street, "Cut your losses--let your profits run." But this is not the only case where traders exhibit the overconfidence which too often brings disaster in its trail. The only confidence on which it is safe to rely is that rooted in knowledge, and the present Text has been written in vain unless it has made clear, that no one can be ever quite sure that he has all the knowledge necessary to a true appreciation of just how prices will move in the future. 14. Qualities necessary for success.--The task of the speculator is difficult and many pitfalls beset his path. To accomplish it with a fair degree of success requires special qualifications and traits of mind. Mr. Woodlock has summarized the desirable qualities of the successful speculator as follows: First: The speculator must have a clear idea of what he is trying to do, i.e., he must have some clear notion of what he expects the market to do and how he expects to operate so as to profit thereby. This implies original knowledge of stock values, money values, and speculative market conditions. Second: The more moderate his operations in proportion to his...


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Product Details
  • ISBN-13: 9781150623646
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 84
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 1150623640
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 168 gr


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