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V.5:10 (316-318): Developing a personal trading style The Wyckoff method of trading Part 14 by Jack K. Hutson
V.5:10 (316-318): Developing a personal trading style The Wyckoff method of trading Part 14 by Jack K. Hutson
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Developing a personal trading style The Wyckoff method of trading Part 14 by Jack K. Hutson
Trading the stock market with the Wyckoff Method is as much a test of personality and personal perseverance as it is a test of analytic education. Wyckoff was strictly a loner when it came to studying and trading the stock market. He believed the best way, the only way, his students would become profitable technical analysts was to rely on their own intelligence and to develop an inner fortitude against inevitable mistakes.
To his way of thinking, mastering the technical aspects of his method was only half the battle of working the stock market. Controlling emotional fervor and keeping a clear head when actually applying the technical know-how in a not-so-perfect market was the other half. Traders or investors wouldn't be able to do that, he felt, if they were continually looking for advice from others or if their technical reasoning was poisoned with rumors and news reports.
Trading the stock market with the Wyckoff Method is as much a test of personality and personal perseverance as it is a test of analytic education. Wyckoff was strictly a loner when it came to studying and trading the stock market. He believed the best way, the only way, his students would become profitable technical analysts was to rely on their own intelligence and to develop an inner fortitude against inevitable mistakes.
To his way of thinking, mastering the technical aspects of his method was only half the battle of working the stock market. Controlling emotional fervor and keeping a clear head when actually applying the technical know-how in a not-so-perfect market was the other half. Traders or investors wouldn't be able to do that, he felt, if they were continually looking for advice from others or if their technical reasoning was poisoned with rumors and news reports.
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