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Strategies & Market Trends : TA Science Projects & Experimental Indicators

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To: ftth who wrote (64)2/7/1998 11:52:00 PM
From: ftth  Read Replies (1) of 237
 
[TA QUOTE OF THE DAY]

Richard Wyckoff, on timing:

After you have a list of candidates, go with the stocks that should move soonest, farthest and fastest based on your technical analysis. You want immediate action for your money and it is bad practice to hold a position for many days or weeks without getting anything out of it. Wait until you see a real opportunity. One good commitment a year will make profits of many times the interest you could earn on your money for a few months outside the market. . .but one hasty trade can set you back an entire year's interest plus the shock to your confidence. Don't chase after the move that has escaped. Your judgment will be biased by your first error and chances are you won't act with a clear mind. Look around for the next opportunity. On the other hand, don't jump in too soon and tie up money waiting for a stock to move up or down. Wait for the period of consolidation to end and let other people play with the stock until then.
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