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Markets1923

Reminiscences of a Stock Operator

Edwin Lefevre

A classic on trading psychology, speculation cycles, position discipline, and the recurring mistakes traders make in stock markets.

Checklist

Do I have a rule to place decisions in cycle context?

Do I have a rule to manage position risk before seeking return?

Do I have a rule to separate signal from noise?

Do I have a rule to prepare for the thesis to fail?

Write down what would invalidate the thesis.

Set a review date before acting.