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The market is ruthless, the heart is tangible, Jesse Livermore's seven classic trading principles must be seen.
Jesse Livermore is one of the most legendary traders on Wall Street, also known as the king of the bears and the king of speculation.
During the market crashes in the United States in 1907 and 1929, he achieved huge profits by successfully shorting the market, thus gaining great fame. Especially in 1929, his personal wealth soared to about 100 million dollars, equivalent to approximately 13 billion yuan today.
Here are his seven classic trading principles, which are not only the rules for survival in the stock market but also profound life guides about human nature, patience, humility, and discipline.
Quickly cut losses
Many beginners often hold out hope when facing losses, choosing to keep adding to their positions or waiting indefinitely to break even, but hope is not a strategy.
During the market crashes in the United States in 1907 and 1929, he achieved huge profits by successfully shorting the market, thus gaining great fame. Especially in 1929, his personal wealth soared to about 100 million dollars, equivalent to approximately 13 billion yuan today.
Here are his seven classic trading principles, which are not only the rules for survival in the stock market but also profound life guides about human nature, patience, humility, and discipline.
Quickly cut losses
Many beginners often hold out hope when facing losses, choosing to keep adding to their positions or waiting indefinitely to break even, but hope is not a strategy.
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