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Richard Smitten "Trade Like Jesse Livermore

spekuliantai.lt | 2010-08-01 | Knygų apžvalgos | perskaitė: 4451
Raktiniai žodžiai: Richard Smitten, Trade Like Jesse Livermore
Richard Smitten "Trade Like Jesse Livermore Richard Smitten 2004 metais parašyta knyga “Trade Like Jesse Livermore” (kas pirmą kartą išgirdo Jesse Livermore vardą, trumpai apie jį gali pasiskait

Richard Smitten 2004 metais parašyta knyga “Trade Like Jesse Livermore” (kas pirmą kartą išgirdo Jesse Livermore vardą, trumpai apie jį gali pasiskaityti čia). Jesse Livermore, net ir praėjus 70 metų nuo jo savižudybės, yra įvardijamas kaip žymiausias visų laikų spekuliantas. Jis prekiautojo karjerą pradėjo dar būdamas 15 metų. Vien tik per 1929 metų didžiojo nuosmukio kelias dienas užsidirbo 100 mln. JAV dolerių. Tačiau taip pat jis visą savo turtą buvo praradęs kelis kartus.

Trade Like Jesse Livermore” – tai knyga, kurioje yra surinkta labai daug naudingų jo patarimų, ką ir kaip reikėtų daryti kiekvienam spekuliantui, bei ko niekada nedaryti, kaip nustatyti rinkos tendenciją, kaip analizuoti sektorius, bei lyderiaujančias konkrečių sektorių akcijas, kada ir kiek akcijų pirkti, bei kada parduoti. Taip pat kalbama apie rinkos veikimo principus, pagrindine daromas investuotojų klaidas, emocijų įtaką rinkai ir pan. dalykus. Kadangi knygoje yra ypač daug naudingų frazių, reikėtų ją visą ir perskaityti, tačiau kaip sakydavo Jesse Livermore: “Niekada nebūsi geros formos, jei tik perskaitysi, kaip reikia sportuoti, tačiau po to nieko nedarysi. Tam reikia griežtos disciplinos, nuolatos dirbti pagal susidarytą planą.”

Taigi žemiau yra pateikiamos įdomesnės knygos ištraukos anglų kalba:

“Don’t concern yourself with why things are happening, only observe what is happening. The reasons why will be eventually revealed to you—by then it will be too late to make money—the move will be over!”

Livermore never spent any time looking for the reason why the stock was attracting a lot of volume. He simply took it as an axiom that volume was an alert signal. It was happening, that why was enough for him. He knew that the actual reasons why would be revealed later when the chance to make money was gone.

Conversely, if there is heavy volume, but the prices stall and do not go up and make new highs, and there is no strong continuation of the current move, beware. This is often a strong clue, a warning, that the stock may have topped out and the accumulation is over and the stock is now going through a distribution phase.

The end of a market move is usually pure distribution, as stocks go from strong hands into weak hands, from the professionals to the public, from accumulation to distribution. It is often a market move by the promoters of the stock, a deception, to trick the public, who view this heavy volume as the mark of a vibrant, healthy market going through a

normal correction, not a top or a bottom. This last gasp of heavy volume also provides a great opportunity to sell out any illiquid or large holdings. Livermore knew it was foolish to ever try to catch the tops or the bottoms of the moves. It is always better to sell large holdings into an advancing strong market when there is plenty of volume. The same is true on the short side, you are best to cover the short position after a steep fast decline.

Remember, never meet a margin call, and never average losses.

Here is a summary of Jesse Livermore’s money management rules:

1. Use probes—don’t buy your entire position all at one time;

2. Never lose more than 10 percent of your investment;

3. Always keep a cash reserve;

4. You need a reason to buy a stock and you need a reason to sell;

5. Put half the profit from a windfall trade in the bank.

“If I am going to lose my money in the stock market, as so many people do . . . then I would prefer to lose it myself. I do not need a broker to lose it for me.”

“I do not take tips. I prefer to make my own mistakes—not the mistakes of other people!”

Don’t concern yourself with why things are happening only observe what is happening. The reasons why will eventually be revealed to you – by then it will be too late to make money! The move will be over.

As long as a stock is acting right, and the market is right, do not be in a hurry to take a profit. You know you are right, because if you were not, you would have no profit at all. Let it ride and ride along with it. It may grow into a very large profit, and as long as the action of the market does not give you any cause to worry, have the courage of your convictions and stay with it.

Beware of the one-day reversal. When the high of the day is higher than the high of the previous day, but the close of the day is below the close or the low of the previous day and the volume of the current day is higher than the volume of the previous day, beware!

“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion that always gets in the way of human intelligence. Of this I am sure.”

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2010 08 02 19:41     #33905
kam skaityti kazkieno interpretacijas, jeigu galima parsisiusti originala ir pasidaryti savo isvadas? 

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