BEHAVIORAL PATTERN!

The goal of a serious technical analyst is to discover the balance of power between bulls and bears and bet on the winning group.

 If bulls are much stronger, you should buy and hold. If bears are much stronger, you should sell and sell short. 

If both camps are about equal in strength, a wise trader stands aside.

Do you ever stop to wonder where your expected profits will come from? Is there
money in the markets because of higher company earnings, or lower interest rates, or a good soybean crop? 

The only reason there is money in the markets is that other traders put it there. 

The money you want to make belongs to other people who have no intention of giving it to you.

Trading means trying to take money from other people, while they are trying to
take yours—that’s why it is such a hard business. 

Winning is especially difficult because brokers and floor traders take money from winners and losers alike.


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