Back in Melbourne.
This extract, from a book The Wisdom of Crowds, was passed on to me from
a Danish contact and fellow trader. In place of the word Crowd, I would
use Market in this instance. I think you will see the relevance. Funny
how the market just seems to 'know'.
So a reminder to fellow traders. Never trade against the trend.
Somehow the market knows, and it is ALWAYS correct. One very effective
way to determine the trend is with a swing chart (As Gann drew it and
invented the method.)
It is just a shame we cannot put politicians speeches to a chart
somehow. So too those pushing the war machine at the Pentagon.
Trade only with the trend, unless you have a very very good combination
of price and time reasons to do the opposite.