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Strategies & Market Trends : TA Science Projects & Experimental Indicators

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To: HeyRainier who wrote (63)2/6/1998 7:51:00 PM
From: ftth  Read Replies (2) of 237
 
[TA QUOTE OF THE DAY]

Richard Wyckoff, on forming an independent opinion:
(First in a series of 'words of wisdom' from the 'father of technical stock analysis')

Anyone studying the stock market intends to remove themselves from the ranks of the uninformed public that dabbles with luck as their foremost rule of operation. A true student of the market doesn't graduate into actual trading before completing a self-imposed apprenticeship where experience becomes the teacher. Form your own opinion and try to make it so accurate and complete that you gain confidence in yourself. Be certain of your judgment before you venture a dollar in the market and don't let anyone entice you into hastily committing real money. Draw conclusions without the consultation of "experts" because every person views the market from a slightly different vantage point-which isn't likely to match yours. One expert may interpret price and volume movements from an investor's standpoint and another from a day-to-day trading outlook. The trader who is dependent on another person's opinions will not only fail to understand the market, but could very well be thrown off a proper course by offhand and conflicting opinions.
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