Click the Link below for an explanation regarding this interesting book:
Speculation as a Fine Art and Thoughts on Life
Dickson G. Watts
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| “When in doubt do nothing. Don’t enter the market on half convictions; wait till the convictions are fully matured….. And so, whenever we feel these elements of uncertainty, either in our conclusions or in the positions we hold, let us clean the house and become observers until as that eminent trader Dickson G Watts wrote, “The mind is clear; the judgement trustworthy.” |
Eternal Truths About Trading Success
Today afternoon once again read small book from the late 1800s written by Dickson G. Watts and reprinted by Traders Press. Entitled “Speculation as a Fine Art and Thoughts on Life”, the book begins with a description of the “qualities essential to the equipment of a speculator” (p. 8). Here is the author’s perspective, written well over a century ago:
* Self-Reliance – “A man must think for himself, must follow his own convictions…Self-trust is the foundation of successful effort.”
* Judgment – “…equipoise, that nice adjustment of the faculties one to the other…is an essential to the speculator.”
* Courage – “…confidence to act on the decisions of the mind…be bold, still be bold; always be bold.”
* Prudence – “The power of measuring the danger, together with a certain alertness and watchfulness, is very important.”
* Pliability – “The ability to change an opinion, the power of revision.” (more…)