I am afraid that my friends will suffer, and I am also afraid that my friends will drive a Land Rover.
There is a person who has had a huge influence on me in my education career. A friend made a lot of money in the cryptocurrency circle and proudly boasted to me: "It only took one month to multiply the investment several times!" "It only took one week to get half a year's living expenses!" "It only took one day to earn my weekly salary!" My own failure is terrible, but my friend's big G is even more uncomfortable... Hahaha, just kidding, the more I think about it, the more I feel that the cryptocurrency circle seems to have become a brand new battlefield, attracting me to a brand new world - I decided that maybe I should try to see if I can find a treasure that belongs to me in this ocean of digital currency.
However, what ultimately led me to the world of trading was not the temptation of short-term huge profits, but two people who truly influenced my education and trading views: Jesse Livermore and Alexander Elder. They represented two completely different educational and trading philosophies, but it was their teachings that helped me establish my own trading philosophy.
1. Jesse Livermore: Adventure and Heroism
Jesse Livermore was born in 1877. He received almost no formal education since childhood, but he was unique in the stock market with his keen insight into the market. His educational style was full of adventurous spirit and radical heroism, and he dared to go all out - the most famous example was before the stock market crash in 1929, when he bet all his funds on short selling and made $100 million (equivalent to billions of dollars today). His "fearless" spirit and market intuition shocked me and ignited my strong interest in education and the market.
However, Livermore's adventurous spirit eventually became his tragedy. He started with $5, experienced several ups and downs, and finally struggled between glory and bankruptcy until he committed suicide at the age of 62. His experience not only made me see the charm of the financial market, but also made me understand the risks of being "too aggressive".
2. Alexander Elder: Conservatism and Discipline
Compared with Livermore's radicalism, Alexander Elder's style is completely different. He was born in an intellectual family in 1950, became a psychologist and psychiatrist, and began to enter the field of education at the age of 30. His trading style emphasizes discipline, science and risk control. He always adheres to the 2% risk principle and pays special attention to emotional control and the application of trading psychology. Although he did not become famous in one battle like Livermore, his decades of persistence and self-discipline have long achieved wealth freedom through trading.
He does not pursue short-term huge profits, but steadily achieves wealth growth through scientific trading systems and mentality management. Elder's (Trading for a Living) has deeply influenced me and made me understand the importance of trading systems and risk management. "Trading for a Living" has also become my own motto in life.
The interweaving of radicalism and conservatism
Although these two people have completely different personalities and styles, they have both profoundly influenced me. Livermore showed me the spirit of adventure and the infinite possibilities of the market, while Elder taught me the importance of risk control and discipline. Inspired by these two, I continue to explore, learn, and gradually build my own trading philosophy. Whether in the cryptocurrency circle or other markets, I know that the balance between radicalism and conservatism, risk taking and discipline is the key to success.
Little C would like to ask brothers and sisters, is there anyone around you who has successfully landed ashore and purchased equipment?