Timing the Trade the Wyckoff Way Message Board

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Strategies & Market Trends : Timing the Trade the Wyckoff Way

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To: eslos who wrote (14048)	10/25/2016 1:38:52 PM
From: PT1950	Read Replies (1) of 14340

I wasted a lot of time and missed out on making a lot of money until I changed my mindset to one where I was buying at the right time and holding on. BTT does a great job at identifying the kinds of stocks I want to own, as well as when to buy them. This solved two problems of mine but it took some time before I was able to development the mindset necessary to hold onto a position. Years ago I would never have held onto a stock that wasn't performing well for a few weeks, let alone trading in a range for a month or two. Looking back I know I developed the mindset of selling quickly since most of my purchases during those years weren't going to move up any further. With BTT this wasn't the case but it still took a few years before I could sit tight with a position during the periods when they did little. I bought #1 when they suggested it. The stock has gained 140% in the eight months since then. Years ago I'd have sold it for a gain of less than 20% when it pulled back. I might have bought it again when it broke out but would have sold it for a gain of 20% during a 3 or 4 week period when it didn't go anywhere. Then again I might not have bought it again. One thing that has helped me is I don't spend much time studying what's happening with a stock or what's happening in the market after I buy. I read their reports and do a google search to see if there is any news on a stock I own. That takes five minutes or so and then I'm done. The less I hear or read the better off I am and the less I do, the better I do. Cheers

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