What is Reddit's opinion of
Reminiscences of a Stock Operator?
From 3.5 billion Reddit comments
24 reviews of this product found across Reddit:
> It’s the fact that there are people shorting the stock who will have to buy at any price
This has been happening since the beginnings of the stock markets. You can read about it is books like this one published in 1923.
Start with a very good $18.69 investment: Reminiscences of a Stock Operator
Read it. It's a very easy read, very interesting, and will save you a fortune and countless mistakes. You'll probably read it again. Then read it again. When you're in your thirties you'll look back and remember this book.
This is an incredibly stupid take. Latency arbitrage has existed forever. There's literally a famous book written all about latency arbitrage as it existed in the 1920's. And it goes back way farther. I mean, this is the fundamental of all commerce -- buy something in a market where it's cheap, sell it in a market where it's expensive.
There are a lot of reasons to be criticizing citadel and co., but this just makes you guys look like fucking knuckledraggers.
Obligatory disclaimer I'm not a financial advisor. Largely what you do depends on your goal/timeframe to meet that goal. I'm assuming you're saying you have 30k sitting in a checking/savings account. If you're a young guy I'd say make sure you've paid off your debts and set a side some of it to learn with. Tell yourself I'm gonna set aside 1-5k to learn how the market works and be ready to lose it for educational purposes. You can start with indexes which represent a basket of individual stocks and tend to be safer for newer investors. From there you can experiment with your risk tolerance knowing you're still young and wont be financially ruined. Eventually you'll feel comfortable managing the rest of your savings. Having that mindset of spending money to learn to make money is a big difference maker. Also don't fall into pump/dump schemes like gamestop and shit— you'll lose your shirt. Read finance books too, a lot of them give really great investment insight and perspective of people who worked on wallstreet and the clients they ripped off etc. A good book to start with is called "Reminiscences of a stock operator."
Reminiscences of a Stock Operator: Edwin Lefèvre, Roger Lowenstein: 9780471770886: Amazon.com: Books First read this in the 90's and reread about every ten years. The word "classic" is somewhat overused but it really applies to this book.
//the players change but the game remains
Jumping in, but I've heard a lot of people recommend this book and I think it is very relevant to the crypto space because it was written by a guy trading stocks in the early 1900's. The stock market back then was a lot like the crypto space today, wild west. I have the book I just haven't gotten around to reading it yet.
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
> "Although Reminiscences...was first published some seventy years ago, its take on crowd psychology and market timing is a s timely as last summer's frenzy on the foreign exchange markets." —Worth magazine
You should REALLY read https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lefèvre/dp/0471770884
Sry for the amazon link
Reminiscences of a Stock Operator
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
Reminiscences of a Stock Operator https://www.amazon.com/dp/0471770884/ref=cm_sw_r_cp_api_i_4X57V4MSKB7V993GFX88
1) Take a break. Make sure you are 100% in the right headspace to trade.
2) Sticks to shares exclusively for a while. If you went from $9k to $300 I'm guessing that's heavily due to options. You can manage risk much easier with shares.
3) Establish some strict risk management rules for yourself to limit your losses going forward. Set a maximum loss for every trade (no more than 1% of account) and set a stop loss to that amount for every trade.
4) If you find yourself incapable of doing any of the three steps above, consider if maybe you simply have a gambling problem and not a strategy problem. This is a hard thing for a lot of guys to admit but they are just in it for the excitement of risk.
​
You want to specialize in a single area at first. Pick a single timeframe, a single setup, and master that. Trying to be a jack of all trades won't work without decades of experience.
For books, here is a decent place to start. I'll hook you up with a free PDF link.
Minervini: Trade Like a Stock Market Wizard
And some other educational material with free torrent links:
[Reminiscences of a Stock Operator](https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884) (Torrent Hash: b6c0617bfedbf689daa1e7f61795b5452d0be2d6)
[Market Wizards](https://www.amazon.com/Market-Wizards-audiobook/dp/B00BYKKJPQ) (Torrent Hash: fad862a9da04804cef78358615229a24c38d3e18)
[The New Market Wizards](https://www.amazon.com/The-New-Market-Wizards-audiobook/dp/B01FN8IAQE/) (Torrent Hash: 2613b41e6983c9c8da6b26f06bd7001353d95fb1)
[Hedge Fund Market Wizards](https://www.amazon.com/Hedge-Fund-Market-Wizards-Winning/dp/B08BSX77BY) (Torrent Hash: 8C7E1E4033108FB6C735806A3A118ED898FF4341)
[Unknown Market Wizards](https://www.amazon.com/Market-Wizards-Traders-Youve-Never/dp/B08F2Y6BD6) (Torrent Hash: 6acb195ddf0351cabd96ff5d6d14b978341ea90e) [Chat With Traders](https://chatwithtraders.com/podcast-episodes/)
Yesterday was a margin gamma ramp banks needed to destroy. Death by 1000 slashes or death by 1000 shares maybe? Remember that GME is not the only battle they have, all the others potential squeezes with new ones showing up (mining). This will end with a large bank (BofA, etc) losing depositors money and a crash at some random time, a NFT dividend or some other random catalyst. If you were right, not short of cash etc, all the meme stock prices would be near $0, not a new ceiling of $200 (was near $500 2021).
​
Don't forget that we don't lose sleep over DOJ investigations and planned manipulation tactics, which are exhausting. They only have to make one catastrophic mistake, like RC or AA F'ing with them over and over, while we just wait.
​
I would suggest reading this book, this old read (from the 1930s) but talks of this very scenario and how the market always wins eventually. None of this manipulation BS is new:
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
We need to educate ourselves. Just look at what SHFs are doing as entertainment, I have been in the meme plays for 2 years now, before there were meme stocks
Qullamaggie Breakout Trading Method
Short YouTube Summary (New)
Swing Trading School <---- Most important! Memorize these setups.
Books
Reminiscences of a Stock Operator (Torrent Hash: b6c0617bfedbf689daa1e7f61795b5452d0be2d6)
Options as a Strategic Investment
The Art and Science of Technical Analysis (PDF link)
Market Wizards (Torrent Hash: fad862a9da04804cef78358615229a24c38d3e18)
The New Market Wizards (Torrent Hash: 2613b41e6983c9c8da6b26f06bd7001353d95fb1)
Hedge Fund Market Wizards (Torrent Hash: 8C7E1E4033108FB6C735806A3A118ED898FF4341)
Unknown Market Wizards (Torrent Hash: 6acb195ddf0351cabd96ff5d6d14b978341ea90e)
William O'Neil - How to Make Money in Stocks
Mark Minervini - How to Trade Like a Stock Market Wizard
Mark Minervini - Think and Trade Like a Champion
Podcasts
Don't read any of these. Instead read https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lefèvre/dp/0471770884
Read this - https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
Same shit since markets were invented. Just different stonks and new tech. WSB is the new bucket house.
Not gonna teach you about value investing but an all time classic
I recommend reading this book.
Reminiscences of a Stock Operator https://www.amazon.ca/dp/0471770884/ref=cm_sw_r_cp_apa_0mFzAb7BQA6M7
Paul Tudor Jones' "Traders" documentary. You'll have to search the net for it as he keeps on forcing people to take it down ;)
"Reminiscences of a Stock Operator" (https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lefèvre/dp/0471770884).
Buffet's shareholder letters: http://www.berkshirehathaway.com/letters/letters.html
Lastly, when it comes to technical analysis I'm a huge fan of market profile. Here's a great free ebook about it: https://www.cmegroup.com/education/interactive/marketprofile/handbook.pdf
Thanks for all the love. "This time is different" is literally the best indicator that you should reconsider your thinking. In the end you are the owner of a (digital) asset and you are telling me you cannot place a value on it? That would bother me.
But you are indeed right, I am coming from the stock world and tend to look at those crypto currencies that are linked to a venture (or better yet where the coins are direct share ownership in the company such as Lykke). In this way I can try to ascertain a value because I can see an underlying business model.
I usually try to avoid pure crypto currencies because they have no ascertainable value to me. You are buying hope that one day they will be used for payments or as a store of value. That being said, I do own BTC and a few others where I see this may one day be the case. I am painfully aware however that it can go to zero tomorrow and that could be perfectly plausible. Something like BTC is based on what people believe it's worth, it can be $5'000 just as likely as it can be $0. Be prepared to lose everything and invest accordingly. I like the optionality to the upside as long as I can afford to lose 100%.
And no, you shouldn't listen to investment advice on this space specifically form finance people. But you should respect investment and speculation wisdom that has recurred over centuries stretching from tulips, to stock certificates, to real estate to Beanie Babies.
There is nothing new under the sun.
I read the book years ago. You said you didn't read the book. I'm telling you the book is contradicting what you preach. Here's a book I recommend for daytraders / pennystock traders since OP seems totally lost:
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
Yes the karma system was invented to protect crypto traders from getting idle hands from evil rumor spreaders like me.
What a fucking self aggrendizing and delusional thought.
If you were interested in real financial advice you wouldn't be reading this subreddit, the dumbest place have found yet on the internet for cryptonews. Even 4chan/biz is better because they don't downvote bad news and signals.
If you wan't to get out of the fomo/fud mill go read a book ( you should thank me for this advice ):
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lefèvre/dp/0471770884
Also go help your local community or pledge a percentage of your income. Jesus you guys are fucking navel gazing.
Go look at the charts we are heading downwards and selling and buying in again is NOT BAD ADVICE right now.
We just passed the 128 MA that we have been ABOVE SINCE 2016 for gods sake. Over 2 years ago and at that time we entered long term bear market.
Just giving you guys free advice and you get all sad and angry and vengeful.
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