Successful Stock Speculation
$15.20
Successful Stock Speculation by J. J. Butler is one of the earliest and most complete guides on disciplined trading and investor psychology. Written in 1922, this book captures the mindset of post-World-War-I Wall Street and translates timeless speculation principles into practical, rule-based methods. Butler, writing for the National Bureau of Financial Information, explains how to approach speculation as a profession — not a gamble — combining logic, patience, and emotional control.
Across its five detailed parts, Butler defines speculation versus investment, teaches how to choose the right stocks, when to buy and sell, and how to manage margin, short selling, and stop-loss orders with discipline. The book emphasizes that successful traders are those who “buy only what is worth more than the market thinks” and that losses arise not from markets but from ignorance, greed, and impatience.
For modern readers, Butler’s insights prefigure the psychological frameworks of Livermore, Wyckoff, and O’Neil. His explanations of market cycles, manipulation, and crowd behavior reveal a deep understanding of how sentiment, liquidity, and information shape price action — lessons that remain vital a century later.
✅ What You’ll Learn:
- The difference between investing and speculating — and when speculation is safest.
- How to identify undervalued stocks and avoid promotion or “bucket-shop” traps.
- Timing entries and exits by understanding major and minor price movements.
- How money supply, sentiment, and manipulation drive cyclical market phases.
- Proper use of margin, short selling, and stop-loss orders without over-leveraging.
- How to protect capital through discipline and avoid emotional trading mistakes.
💡 Key Benefits:
- Learn a structured, principle-based approach to speculation.
- Master the emotional and psychological foundations of long-term success.
- Recognize manipulative market tactics and protect yourself from misinformation.
- Discover early 20th-century techniques that inspired modern technical analysis.
- Develop a “safety-first” mindset that focuses on minimizing loss before maximizing profit.
👤 Who This Book Is For:
This classic is essential for price action traders, cycle analysts, and disciplined investors who value timeless principles over modern noise.
It’s especially suited for:
- Students of Jesse Livermore, Wyckoff, or Gann who study the psychology of market timing.
- Discretionary traders aiming to strengthen mental discipline and reduce speculative risk.
- Serious investors seeking a foundation in historical market behavior and sentiment dynamics.
📚 Table of Contents:
– PART 1:INTRODUCTORY CHAPTERS
- THE PURPOSE OF THIS BOOK
- VHAT Is SPECULATION
- SOME TERMS EXPLAINED
- A CORRECT BASiS FOR SPECULATING
– PART 2:WHAT AND WHEN TO BUY AND SELL
- WHAT STOCKS TO BUY
- WHAT STOCKS NOT TO BUY
- WHEN TO BUY STOCKS
- WHEN NOT TO BUY STOCKS
- WHEN TO SELL STOCKS
– PART 3:INFLUENCES AFFECTING STOCK PRICES
- MOVEMENTS IN STOCK PRICES
- MAJOR MOVEMENTS IN PRICES
- THE MONEY MARKET AND STOCK PRICES
- MINOR MOVEMENTS IN PRICES
- TECHNICAL CONDITIONS
- MANIPULATIONS
– PART 4:TOPICS OF INTEREST TO SPECULATORS
- MARGINAL TRADING
- SHORT SELLING
- BUCKET SHOPS
- CHOOSING YOUR BROKER
- PUTS AND CALLS
- STOP LOSS ORDERS
– PART 5:CONCLUDING CHAPTERS
- THE DESIRE TO SPECULATE
- TWO KINDS OF TRADERS
- POSSIBILITIES OF PROFIT
- MARKET INFORMATION
- SUCCESSFUL SPECULATION
Successful Stock Speculation By J. J. Butler (John James Butler)
| Author(s) | |
|---|---|
| Product Type | Ebook |
| Format | |
| Skill Level | Beginner to Intermediate |
| Pages | 108 |
| Publication Year | 1922 |
| Delivery | Instant Download |
12 reviews for Successful Stock Speculation
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Juliette Valdez (verified owner) –
This book explained a few basic things about trading, but not current enough for me. I would not recommend this book to anyone who is already invested in the market.
Margo Bauer (verified owner) –
Stock advice for 98 years ago some of it still relevant. Moody and poor’s had been around for a while.
Genevieve Mathews (verified owner) –
What words of wisdom written in deceptivley plain English that masks the underlying truths to the casual reader. For seasoned traders, it’s incredible to see 1) the fact that some things never change in spite of changing technology and specific securities and 2) the fact that you can converge upon these words of wisdom written so long ago through your own experiences.
Keyla McMahon (verified owner) –
The book was written 90 years ago, yet many points on the topic of stock market speculation still hold true today. You won’t get a specific approach to start making money now, but it is a good read for people who are new to investing in stocks. Some stock market terms are defined and the book offers some pitfalls to avoid when it comes to market speculation. It’s an old gem that makes you feel you’re living in the 1920’s period.
Ansley Johns (verified owner) –
Very good book for beginners. Written many years ago but still relative to modern times.You have to read this in one sitting. The author makes total sense about the stock market.
Beckett Harrell (verified owner) –
i love it
Jaylin Knight (verified owner) –
Good insight. The book is from the early 1920s. Overall a good book to read. Very short but informative. Thanks
Joziah Quintero (verified owner) –
A book published in 1922 on investing by a stockbroker who does not hide the fact that he wants the reader to invest in his product. He gives the same advice that you can find in books written today. Speculation, when to buy and sell, margin, short selling, fundamental vs technical analysis are all covered, even if not in depth. There is good advice for any investor in the markets.
It is worth reading by all who are new to investing and as a reminder to experienced investors that things don’t change much.
Jakob Hunt (verified owner) –
Great explanations and defining of key terms. Short and concise. A good read for first time investors. Definitely worth a read.
Jamir Bentley (verified owner) –
This book is a bit dated although the basic principals in it still hold true. Its a quick read and considering its free its worth the time.
Kieran Faulkner (verified owner) –
For people who want to start up their own business, this book is highly recommended. It contains principles to avoid losses and risks. It explains the influences that can affect the stocks. Terminologies are well defined. It has many ideas and information including facts that the stock market is misleading. So you can end in a better decision. It’s short but very educational.Mark , author of Hidden Credit Repair Secrets.
Kyler Strong (verified owner) –
It’s a Old book and it is short, but still contain valid and usefull basic information about Stock Speculation.
It is a good reading. Recommended