You know when your momentum trade ends once your trailing stop is busted, all great waves end!
The trailing stop is also a great trend tool that will show up periods of strength and weakness that force a trend change. In the Wyckoff trading world that is something we want to know about.
Investing Quote…
..”TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. ? There is a definite relation between TIME and PRICE. ? Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. ? The most money is made when fast moves and extreme fluctuations occur at the end of major cycles.” ..
William D Gann
…“To me, the ‘tape’ is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”…
Martin Zweig
..”A market is the combined behavior of thousands of people responding to information, misinformation and whim”..
Kenneth Chang
..”Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention and I wouldn’t under-estimate the value of that, but they’re not designed to take care of social needs”..
George Soros
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
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