Who is Traders, or stock speculators from Reminiscences of a Stock Operator and what is their importance?

Livingston tends to use the term speculators, as opposed to the more modern term traders, but the meaning is the same. He likes to emphasize the word "speculator" to differentiate a good trader from a poor one, whom he considers nothing more than a gambler. Unfortunately, he considers the vast majority of those who buy and sell stocks to be basically gambling, and highly unlikely to ever make a living or even a modest investment on their trades. This book is written for traders, and is Livingston's best advice on how to be a good stock speculator, based on his many years of experience as a speculator and stock manipulator.