MANY years of my life had been devoted to speculation before it dawned upon me that nothing new was happening in the stock market, that price movements were simply being repeated, that while there was variation in different stocks the general price pattern was the same …
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It is my purpose in these chapters to lay down some general trading principles. Later on there will be specific explanation of my formula for combining time element and price.
In consideration of these general trading principles it should be said that too many speculators buy …
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In the preceding chapter, I related how by not exercising patience I missed being in on a play that would have netted a handsome profit. Now I shall describe an instance where I bided my time and the result of waiting for the psychological moment …
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