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Strategies & Market Trends : Wayne Angell- Pimp of the month or just another boner call?
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To: AugustWest who wrote (19)4/18/2001 1:58:10 PM
From: Chip McVickar  Read Replies (1) of 41
 
The psychology of market traders seems often to be more important then the economics surrounding any particular time period. I've come to believe one doesn't understand the markets by listening to others telling you what they think. No matter how good they are...successful traders teach their intuitions how to trade.

Personally I don't listen to analysts, don't watch CNBC, CNN or any public chatter boxes. They're all self serving.... Right or Wrong. Have found very few market news letters that are worth buying, much less reading.

Any important clues as to the psychological whims of the traders or analysts like Angell is in the individual bars of any chart. By listening to the general nightly news..., I get all that I can stand and need to pick out the change in market psychology after the bars have telegraphed it.

Everything one needs to know is in the charts. Learning how to measure the markets movements is the key, applying a schooled intuition, and then followed by money management.

Being a good trader is a gift..., not purely an intellectual activity.

I wouldn't be to quick to short this market until after the 23-25th of April.

Chip
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