Page 26 - THE MARKET WHISPERER

THE MARKET WHISPERER 25

Introduction

The Stock Exchange Is for Pros

Always remember that when you buy a share of stock, someone is selling it

to you. Some people seem to think that “the bank” or “the broker” is selling it.

That’s not the case. The person selling the stock believes it is valuable

at precisely the same time as you’re thinking it’s cheap. In other words, if

you buy at a price that the seller feels is expensive, what, in your opinion,

is the seller thinking about you?
Correct. The seller is probably thinking you’re an idiot. When the seller

is a pro and you’re not, he’s almost always right.

SMART A pro trader once told me that a pro’s job is to find the idiots
MONEY willing to buy from him…

The stock exchange is my place of work. I am a pro. I make my income
from people who think they can take my money. The only way the cash
flow in my trading account will grow is if I make someone else’s smaller. I
profit from the money lost by investors, the public, or the herd that doesn’t
understand the rules of the game. Only a very few lucky folks along the
way have used their courage and determination to profit and lead the rest
of the herd.

Stock Exchange or Casino?

A dictionary entry defines the stock exchange as “an organized market in
which businessmen meet in order to sell and buy stocks or commodities
such as diamonds, cotton, coffee and sugar.”

Such sweet talk! Such a lovely, respectable place to work that must be!
Businesspersons meet and earn profits. Every mother’s dream-come-true
for a successful child!

Now I will offer my definition. A more correct and precise one cannot be