Golden Rules For Today's Sports Traders From 1907

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I believe the majority the Dickenson G Watts rules of a successful speculator are just as pertinent to today's sports trading markets as they were to the stock market in 1907.

My particular favourite is rule number nine, where the author writes the following:

" I have written to little purpose unless I have left the impression that the fundamental principle that lies at the base of all speculation is this: Act so as to keep the mind clear, its judgement trustworthy. A reserve force should therefore be maintained and kept for supreme moments, when the full strength of the whole man should be put on the stroke delivered"

Some sports traders reading this post may be of the opinion that the rules are really only applicable to financial trading and are too old fashioned being out dated for todays sports markets,  but as Jim Rohn  considered a one of Americas leading  “Business Philosophers” was fond of saying: 


“There are no new fundamentals. Truth is not new, it’s old. You’ve got to be a little suspicious of the guy who says, ‘come over here, I want to show you my manufactured antiques!’ No, you can’t manufacture antiques.”


I hope you have enjoyed this post

Stay Patient
Mark

I found the rules at the the blog of financial author Micheal Covel click on the link below to visit his blog:
 1907 Stock Market Wisdom: Trend Trading Never Dies

5 comments:

  1. Hi Mate,

    Great blog. Any chance you could do a link swap with my blog?


    Cheers

    James

    ReplyDelete
  2. Hi Mark,

    Food for thought indeed. One of the greatest problems I have is knowing when to not bet, as such take a break. Waiting for the right opportunities as such ..

    Can you do me a favour also, have changed the name of my blog could you replace the link www.kejiskeen.wordpress.com to this new one www.lonesomepundit.blogspot.com, the blog is the same just a different address.

    Many thanks Skeeno.

    ReplyDelete
  3. Excellent post, I love reading this kind of stuff, I'm always searching for ways of improving my method. I have to admit that I do lose the run of myself from time to time (too often if the truth be known)but having recourse to a list of do's and don'ts can pre-empt the danger of lapsing into chasing mode (not easy when the chase gene has been fully activated). Thanks for digging out this piece of philosophical gold, if that's the right expression.

    regards

    C.C

    ReplyDelete
  4. Hi Mark,

    Would it be possible for you to replace the Skeenobeener's Adventures link on the right with this one www.lonesomepundit.wordpress.com

    I've changed a few fundamentals of the blog one of which being the site address, perhaps foolishly.

    Many thanks Rich.

    ReplyDelete
  5. Hi James

    Its a pleasure to add your blog to my blog list.

    Hi Rich(aka Skeeno)

    I have changed the link to your blog. Good luck with the new format.

    Hi C.C
    Thanks for the feedback again, I'm pleased that you got something from the post. As you say a list can help us to keep on track.

    Thanks again
    Mark

    ReplyDelete

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