“The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”
Thanks. Ive never used extensions before.I usually just keep replotting the standard fib for retracement levels. I'll give them a go.
%% Good one [2]Now that you mention it, he noted those that can manage money may reuse a business envelope. And that ''Old Turkey, when some sold/took profits in a bull market+ and tried to get him to sell.H e would always say he did want to lose his position+ its a bull market you know''
I started using them a couple of years ago after reading Trading the Measured Move by David Halsey. I made adjustments from what he does but don't we all.
%% Actually/ still one of the better books on the stock market; even though the orange cover ,color charts newer book is much more readable on the charts. Strangely the WSJ, despite my objections, LOL, went backward in time to the old IBD pattern of black + grey charts= clear as mud, but save a few pennies i guess??
%% MR WoN [his real initials + sister co name]has some of the most helpful stuff ever written on capital markets, much more so than WSJ. But many will not be a Peter lynch or Mike Marlin Masters. Looks like Dave Ramsey is right average/ investor or trader is better off with 10% max in single stocks......................... TRAndy asked about turkey?? Mr WoN warned of a turkey trap, which for traders\ is stupidity of never cutting losses, or counting turkeys, or laggards . Leaders tend to do much better than laggards . Great IBD patterns of all time winners, like MSFT sector........................................... IBD has about 77.7% better ETF charts+ data than WSJ.
Arrived yesterday. I ordered it well before WON's death. Got the Tablet version but wanted a Hardcopy
This is a good free source introduction to O'Neil's use of price charts. IBD_AmericaGreatestOpportunity1.pdf