At 8:00 p.m. on February 4, 2022, the opening ceremony of the Beijing Winter Olympics was successfully held at the Bird's Nest in the National Sports Square. Its effect is glittering, and its effect makes people marvel.
Director Zhang Yimou said in an interview that he "repeatedly watched and learned from the opening ceremonies of the previous Winter Olympics, and then combined with thinking about the current technological innovation."
It can be seen that it is important to keep up with the market and learn from past experience. Coincidentally, there is also a well-known big coffee figure in the United States, known as the gambling boy at the age of 16, he is the king of stocks Livermore, the protagonist of "Memoirs of Stock Masters".
"Memoirs of a StockMaker" was written by American journalist, writer, and politician Edwin M. Thompson. Lefebvre wrote it in 1924 and translated it by Ding Shengyuan, a master financial translator at Peking University. Let's follow in Livermore's footsteps and take a look at his ups and downs.
A bold and careful, good at observation and thinking, to achieve a big gambling boy.
At first, like the general public, after graduating from junior high school, he went out to work and worked as a market "bookboy" in the sales department of a stockbroking house, that is, a paper tape machine quotation clerk.
His job is to copy the latest market data every day, because he is interested in numbers, he began to find the pattern of the numbers on the paper tape, analyze the market price pattern, and produce the "horse racing prediction table", becoming an expert in reading the market paper tape.
Having this professional skill gave him a lot of confidence in the investment industry. Through continuous learning and research, he became more and more professional at a young age. By chance, a colleague at the company took him to a gambling house to place a $5 order, and since then he has been trading alone.
He wanted to test the accuracy of the "Horse Racing Prediction Table", a treasure book he had previously made, by practicing trading. He realized: take a long-term view, see the big situation clearly, and find out the bottom into the logic of thinking. Livermore turned out to be right.
At the age of 15, he earned his first $1,000. Gradually, he became a "constant general" of the gambling house, so that the sales department of the gambling house was afraid to trade with him. He simply resigned and came to the New York Stock Exchange to break into the wider world.
Second, after repeated defeats and battles, success also learns, and failure also learns.
Livermore came to New York at the age of 21, and he started his dream journey with all his belongings of $2,500.
However, reality hit him hard, and his original experience in the stock market was not enough. Stock trading is not like the model of the betting bank, once a trading prodigy, less than 6 months after the New York Stock Exchange bankruptcy.
Because he used to engage in a short-term trading model in the betting bank, there are some differences with stock trading. However, he has a good habit of being willing to gamble and lose, not to complain. Never lose your temper with the stock market.
At this time, there was no capital, so I had to return to the gambling bank in my hometown to raise capital. Through later reflection, I was not able to concentrate enough and never be able to adhere to my own opinions.
His own ingenious trading methods are always able to raise funds at the betting house. It didn't take long to return to wall Street and the New York Stock Exchange for the second time with $2500. At this time, Livermore was only 22 years old.
On May 9, 1901, the day before, his fortune had reached $50,000. And the plan can never catch up with the change, and it all loses that night, and the truth is so cruel. As a result, he had to leave Wall Street for the second time and raise capital again.
This time it was so tragic that this former trading prodigy doubted life, so it is said that "the stock market is risky, investment needs to be cautious", "there is no diamond, no porcelain work", there is no strong heart as a support, and people who jump off the building have it.
In 1902, at the age of 24, he once again saved up enough capital, adjusted his mentality, drove a car, and returned to Wall Street for the third time. Maybe it was the result of his reflection, or maybe God couldn't look at it anymore and gave him a reward to eat.
This year he became the king of the stock market, earning his first $1 million in his life. This period of his life has formed a spiraling upward pattern of attempts, setbacks, difficulties, understanding and trying again, setbacks, difficulties, and understandings.
We don't have to have experience to fix our own thinking, but only existing experience to serve us. Sharpen the knife without mistake cutting wood, and those who want to cut wood sharpen the knife first.
Third, judge the hour and size up the situation, respect the market, and follow the laws of the market.
Livermore's eventual reign was the result of a lifetime of cultivation, learning and accumulating experience in cases of failure and success.
It is effortless to use force. In the general trend, we must learn to find the least resistance route, in other words, to find the trend, so that it is easier to achieve the goal - to make money.
The general public is accustomed to using the news they hear to decide how to make a trade, short or long. Rarely use the brain to think independently, want to be an excellent speculative trader to learn the ability to think independently, must fail to invest, others will not pay for you.
In his lifelong stock trading career, Livermore has constantly reflected on his trading methods, continuously understood the market, constantly judged trends, and managed funds, which are much more mature and stable than when he first debuted.
Maturity and stability can be seen in the purchase of trusts for his wife and children after marriage. The trust funds are independent and are not affected by his stock operations, so that even if the investment fails, it will not cause difficulties for the children and wife.
Livermore's reign was characterized by a calm mind coupled with these characteristics
Thinking brain: the layman uses the ear, the insider uses the brain
Clairvoyance: The layman looks at the price, the insider looks at the price trend
Leverage: Seize the opportunity to do what you want to do.
In November 1940, Livermore shot himself, writing in his suicide note that "my life was a failure", and a generation of superstars fell.
I think: success is in the mentality, failure is also in the mentality. After all, in the era of king, he was too inflated, lost his self-discipline, and if he could have the energy he had when he first arrived in New York in his 20s, he would not have made such a behavior, and his life was unbalanced.
We learn one good aspect of Livermore:
Be bold and careful, think independently; repeatedly lose battles, learn from success, and learn from failure; judge the hour and size up the situation, follow the basic laws of the market, and grasp your own mentality!