Sitting Tight – Jesse Livermore
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. - JESSE LIVERMORE
Jesse was a legendary trader in his lifetime. His experiences taught him that even though he was able to made good money trading, he also lost good amounts of money by over-trading. After decades of trading & investing, he offered the above advice, showing that patience can be rare, but also patience can be more rewarding if you know you are correct about a certain set up and patiently wait for it to unfold.
As a trader, I like to find & buy good set ups and sell them in a few days as they play out, but I also have tried to find proper set ups and allow them to play out until they are longer term rewarding. Let me give you a couple of examples of how "Sitting Tight when you know you're right" can pay off.
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Market Observations
I wanted to take this time and just share a few charts that I have presented to my premium members in various premium reports last week. Of course as time moves forward , charts can morph and change , so we keep our eyes on things as they unfold. Currently, however, things are still playing out as expected.
March 24 NASDAQ - I was pointing out a wedge pattern. They are bearish if they dont surge higher and break the pattern before reaching the apex.
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Could Energy Still Be In A Bottoming Process?
In this past weekends premium report & again on Monday March 16th, I posted developments that we had been watching In OIL/ENERGY /METALS. I am going to share a small part of those reports here with you , and let you draw your own conclusions. MANY went short OIL this week . The Wall Street […]
