9. Advantages derived from opening up communications with the Corn-growing Provinces of Russia 80 10. The Growth of Wealthy Monetary Centres 82 11. Private Cipher Telegrams as exterior influences upon Prices 83 12. The Altered Character of interior influences upon Prices 84 13. The Creation of Securities to meet the Demand 84 14. Getting behind the Scenes 85 15. The Difficulty of “Cutting” a Loss 85 CHAPTER VI. _Cacoëthes Operandi._ 1. Waiting for Extremes 87 2. Reaction generally more rapid after a Sharp Rise 88 3. What Not To Do 90 4. Special Information 90 5. Much Money only obtainable as a certainty by Hard Work 90 6. An Average Instance of Haphazard Speculation 91 CHAPTER VII. _The Pit-falls._ 1. Hidden Forces Opposed to the Speculator 94 2. The Turn 95 3. The Danger of taking Advice 95 4. A Disinterested Opinion 96 5. All the Eggs in One Basket 96 6. Traps for the Public 97 7. The Public as Speculators are Bulls by Nature 97 8. A Case of Roasting the Bulls 98 9. A Cut off the Loaf and Pass it on 98 10. Short Periods in, and Long ones out 99 CHAPTER VIII. _Speculation With Capital._ 1. Restoring the Balance of Advantages 100 2. The Necessity of Some Capital 101 3. Capital to expend in Feints 102 4. La haute Finance 102 5. The Best of all Chances for a Speculator with Capital 103 6. The most Legitimate Form of Speculation, Pawning the Stock 104 7. When to Begin and when to Leave Off 105 8. Test of a Speculator’s Pecuniary Position 105 CHAPTER IX. _Speculation Without Capital._ 1. A Familiar Case 107 2. Bitter Experience 108