Essential Qualities of the Speculator/Trader
1. Self-Reliance. A man must think for himself, must follow his own convictions
“A man cannot have another
man’s ideas any more than he can another man’s soul or another man’s body”
Self-trust is the foundation of successful effort
1. Self-Reliance. A man must think for himself, must follow his own convictions
“A man cannot have another
man’s ideas any more than he can another man’s soul or another man’s body”
Self-trust is the foundation of successful effort
2. Judgment. The ability to adjust ones faculties, which is called good judgment, is an essential to the speculator
3. Courage. That is, confidence to act on the decisions of the mind. In speculation there is value in Mirabeau’s dictum: “Be bold, still be bold; always be bold”
3. Courage. That is, confidence to act on the decisions of the mind. In speculation there is value in Mirabeau’s dictum: “Be bold, still be bold; always be bold”
4. Prudence. The power of measuring the danger, together with a certain alertness and watchfulness, is very important.
There should be a balance of these two, Prudence and Courage;
Prudence in contemplation,
Courage in execution.
There should be a balance of these two, Prudence and Courage;
Prudence in contemplation,
Courage in execution.
5. Pliability. The ability to change an opinion, the power of revision.
“He who observes... and observes again... is always formidable.”
-Dickson G. Watts
“He who observes... and observes again... is always formidable.”
-Dickson G. Watts
