Trading Commodities and Financial Futures: A Step-by-Step Guide to Mastering the Markets, Third Edition

Chapter 13. Twenty-five trading secrets of the pros

At the times I've done well in the markets, it usually was because I acted in a certain way. When I've done poorly, it usually was because I didn't. The “secrets” presented here are partially from experience (the “school of hard knocks”), but also originally gleaned from reading the masters. Two masters of yesteryear come to mind first—Jesse Livermore and W.D. Gann. Their heyday was during the 1920s; however, they both still live through their writings for me. Actually, a trader can learn more from their failures than their triumphs. The same mistakes made 50 and 100 years ago continue to be made by traders every day. Technology might change, but human nature never does. I thank these two men, ...