#Read##2022 Reading Plan #Afternoon read "Memoirs of a Stock Maker", which is the second book to be completed in 2022, with an annual target of 35 books. This goal

#Read##2022 Reading Plan#I finished reading "Memoirs of a Stock Writer" in the afternoon, which is the second book to be completed in 2022, with an annual target of 35 books. This goal was initially 100 books, it felt too tired, changed to 50 books, and finally felt humble, basically an average of 3 books a month, more feasible.

"Memoirs of a Stock Writer" is written by Livermore in the United States, and also translated as Livmore, or Lee Favor, that is not too important, this name is not well-known in the literary circle, but in the trading circle is the top of the king, people gave him the crown of "king of speculation", more similar, probably Soros, but he is only called a financial predator. In fact, the only person who can compete with him is probably Buffett, the god of stocks.

This is a novel-style book, but it comes from the author's practical experience, the plot is not important, what is important is the operation case, and countless famous sayings and aphorisms.

I'm most interested in two:

One is the case of making more coffee before the end of the First World War, and finally did not make money, mainly the government intervened, more similar to the thermal coal futures at the end of last year. Changes in exchange rules, especially for supplies involving people's livelihood, can easily trigger price controls. This is one of the risks we need to be aware of in our trading.

One is to be brainwashed by famous cotton analysts and heavily position cotton trading, resulting in serious losses. Trade with someone else's point of view, rather than basing it on your own independent analysis. This is a mistake that most amateur traders in reality tend to make.

The book was bought for about five or six years, and I read it twice, and this is the third time, and every time I look at it, it feels different.

I think this book is more suitable for traders, not very suitable for retail investors, retail investors or learn from Graham Fisher Peter Lynch is more appropriate, focusing on company value mining or accompanying growth.