Speculation as a Fine Art and Thoughts on Life

What is speculation?

Speculation is a venture based upon calculation. Gambling is a venture without calculation.

Laws Absolute.

Never Overtrade.

Never Double up.

Run Quickly, or not at all.

Another rule is, when doubtful, reduce the amount of the interest.

Rules Conditional.

It is better to "average up" than to "average down".

The rule is to stop losses and let profits run.