Charting is a little like surfing. You don’t have to know a lot about the physics of tides, resonance, and fluid dynamics in order to catch a good wave. You just have to be able to sense when it’s happening and then have the drive to act at the right time.

It is impossible to consistently outperform the market by using any information that the market already knows.

When I see a picture like the 1861 cotton market, I ask myself, “What caused that? Why did that happen?” Then I try to figure it out. From that, you learn an enormous amount. In.

Either go at it full force or don’t go at it at all. Don’t dabble.

Can you give me an example of how the lack of real world experience would hurt the researcher?

One of my rules was to get out when the volatility and the momentum became absolutely insane.

Make the calls. Maybe they won’t talk to you, but I guarantee that if you don’t call, they won’t talk to you.

Actually, the best traders have no ego.

You just stay focused on what you have to do. Exactly.

You don’t want to have a position before a move has started. You want to wait until the move is already under way before you get into the market.