My fav quotes from saint:
Quote: "When the trend is DOWN,we short rallies.If you can't short for whatever reason,then a downtrend is reason to stay out till we get a change in trend to the Upside."
Quote: " it is very important to be able to detect the change in trends in the first, place.Therefore,our minds must work like this"
Quote: Take the weekly charts.Why,the weekly?Because we are looking at intermediate to long term. Are we making higher pivot highs and lows?If the answer is YES,then we are in an UPTREND.And in an UPTREND,we think "BUY DECLINES".That's it!!We let people play God ,but we stick to our plan.
Quote:
"The market changes from Uptrends to Downtrends,again and again........we are not here
to predict tops and bottoms.We are not here to anticipate anything.We are here to
follow the trend.And as uptrends change to the down,we change from BUYING
DECLINES to SHORTING RALLIES."
Question : Define Trend Change in a chart
a stock put in lower pivot highs and lows.It is clearly in a
downtrend.Then it put in an impressive rally from the bottom.Are we in an
uptrend?NO,not yet at least.Then the stock retreats and puts in a higher pivot low as
compared to the previous pivot.Now,looks more and more like a change in trend.Then
it confirms the trend change by making a higher pivot high as well.The stock is now
clearly in an uptrend.Now your brain says,BUY DECLINES.And true enough you get
that decline.You bought in ......and horrors of horrors,the stock went on declining to
lower pivot low than the previous low.Your stop at the level of the previous pivot is
triggerred.You are out,and looking elsewhere for another trade.
Quote: "When the trend is DOWN,we short rallies.If you can't short for whatever reason,then a downtrend is reason to stay out till we get a change in trend to the Upside."
Quote: " it is very important to be able to detect the change in trends in the first, place.Therefore,our minds must work like this"
Quote: Take the weekly charts.Why,the weekly?Because we are looking at intermediate to long term. Are we making higher pivot highs and lows?If the answer is YES,then we are in an UPTREND.And in an UPTREND,we think "BUY DECLINES".That's it!!We let people play God ,but we stick to our plan.
Quote:
"The market changes from Uptrends to Downtrends,again and again........we are not here
to predict tops and bottoms.We are not here to anticipate anything.We are here to
follow the trend.And as uptrends change to the down,we change from BUYING
DECLINES to SHORTING RALLIES."
Question : Define Trend Change in a chart
a stock put in lower pivot highs and lows.It is clearly in a
downtrend.Then it put in an impressive rally from the bottom.Are we in an
uptrend?NO,not yet at least.Then the stock retreats and puts in a higher pivot low as
compared to the previous pivot.Now,looks more and more like a change in trend.Then
it confirms the trend change by making a higher pivot high as well.The stock is now
clearly in an uptrend.Now your brain says,BUY DECLINES.And true enough you get
that decline.You bought in ......and horrors of horrors,the stock went on declining to
lower pivot low than the previous low.Your stop at the level of the previous pivot is
triggerred.You are out,and looking elsewhere for another trade.
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