1. In the bull market, the bad news will be ignored, the good news will be exaggerated, and vice versa, which is also human nature.

2. It is much more beneficial to explore the reasons for mistakes than to study one's success. All the errors in the stock market will hurt two sensitive places - your pocket and your vanity.

3. A professional speculator only wants to do things right, while does not care how much money he has made. He knows that he will make money as long as he has done his early work well.

4. If a person wants to perform well in the speculative market, he must fully understand himself.

5. If speculators can learn how to keep themselves from being arrogant, no matter how much they pay for it is reasonable. Many intelligent people's serious mistakes are due to arrogance. Arrogance is an enemy for everyone, especially for speculators on Wall Street.

6. Dealing is my job, and I follow the facts, not the opinions of others. (Novices should pay special attention to this point. Reduce the dependence on other people's investment suggestions, show courage and perseverance, and make significant progress after you have experienced one or even several complete bull and bear markets.)

7. Short sellers in the market must remember Daniel Drew's classic saying: if a person sells something he doesn't have, he'll either repurchase it or go to jail.

8. A speculator must have the following qualities: never be against the market, have fearless courage, but not be reckless. Once he finds out that he has done wrong, he must turn back and correct it immediately.