10 10 2007

XIII

This chapter focuses again on the human side of trading. While in the poor-house, Larry is offered assistance by a brokerage firm with special needs. While working within this firm, Livingstone lets his feelings win over his judgement again and makes a mistake that he regretted more than any other he made on Wall St. One can repay money with money, kindness and favours must be paid back in kind. This is where Larry undid himself, by allowing himself, unknowingly, to be used by a brilliant and cold-blooded businessman.

An interesting theme in this book is repeated in the way the character reacts once he realizes that he has been used. Even though he was hurt and angry, he simple thanked his sponsor and left. He was as angry at himself for the markets were trading well and he was reading it accurately, but he let his own gratitude tie his hands. Following this involvement, the markets went flat – no profit to be made – for five years where Larry lived again in the poor-house. But worse, he was not only broke, but now he was greatly in debt.

XIV

This was a great chapter for me to read at this time in my life. It focuses on the importance of self-study. One must work out internal conflict to be able to trade the market effecively.

XV

Coffee example – a trader must be prepared for the unexpected and the unexpectable!

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