In order not to lose to the market, as a result of hearing too much good news or bad news to be affected, newbies being inexperienced with the tides and turns of events should have one maxim: SEE NOTHING, HEAR NOTHING AND DO NOTHING, except to know himself, see himself and do it himself! - a small variation of the HEAR NO EVIL, SEE NO EVIL AND SPEAK NO EVIL.

To learn more about the operations or the on-goings of a stock market, go and read the 'Reminiscences of a stock operator" by Jesse Livermore. He was hell of a player whom the bucket SHOPS/houses (olden days stock trading firms) feared. Very interesting book. 

Yes, you find the "Reminiscence of a Stock Operator" useful to compare our modern day strategies, the pitfalls and the proper conduct of trading in order to win. 

Really good narrative by a stock player (operator) who saw thru the system's weakness and benefited from it. But he was also an extra-ordinary man who met success and failure many times like many of us players out there.

Bucket shops during his time were making players suckers until Livermore came and made them suckers in turn until every shop was scared out of its wits to accept his orders.

It would be interesting to note that Bucket shops could be mimicked in today's context in a varied manner. But owing to some rules of trading, albeit unclear whether effective or not, such activities are not prevalent.

If you read the first few chapters, Livermore briefly told how these firms schemed to wipe out your investments with the upturn and downturn of the market. Nowadays, violent movements are only seen in spot market of a number of commodities.

What I find about trading for a living is that there is really no one you can share your experience with without having him or her influence your trading. One thing is for sure, whoever wrote "Reminiscences," knew an awful lot about the development of Jesse's trading philosophy. Reminiscences does not delve into chart reading or technical analysis. It was before that. Livermore's genius is that Reminiscences lives today over eighty years later, as a "traders mind mirror." "Reminiscences," echoes back your own thoughts reflected off of the mind of one of the greatest securities traders.

If you are new to the path or have lost your way, or just need a re-entry from a trading break. Reminiscences unfolds the philosophical foundation underlying "a way of life as a trader." No matter what your level of trading experience, if you are still alive "Reminiscences of a stock Operator" (a hidden classic gems written in 1923) has something to offer you. 

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