Traders World Issue 48

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COM January/February 2011 1

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Tradersworld
January/February 2011 ISSUE #48
Bei ng Account abl e
Dy nami c Tr adi ng Wor k shop
Catching Signifcant Trends
Vant age Poi nt Revi ew
The Tr adi ng St r at egi es
Ti me Fact or Poi nt s of For ce
Not es on Day Tr adi ng f r om
Novy Pr i nci pl es of Mar k et
Fl ow
Mi ni mi zi ng Fi nanci al Ri sk
What Real l y Mat t er s Most
About Mar k et s
17- Year Cy cl e & I nt er est
Rat es
I nt r oduct i on t o Roger Babson s
Act i on React i on Tr adi ng Techni que
The Gar t l ey
Tr adi ng
Book Revi ew
Cal i br at i ng Gann s
Pl anet ar y Li nes
WWW.TRADERSWORLD.COM January/February 2011 3
2 WWW.TRADERSWORLD.COM January/February 2011
Let t er Fr om The Edi t or
I ssue# 48 has
many excellent
art icles in it .
Tr ader s Wor l d Magazi ne
Sonat a Tr adi ng Comput er s
Tr ader s Wor l d Onl i ne Ex pos
Traders World Magazine Digit al Edit ion
is now 100% digit al. I t can be read on
our comput er, and I pad or any device t he
reads pdf fles. The benefts of this the
digit al medium is already very clear. And
those benefts will continue to multiply in
t he coming mont hs as digit al evolves. Wit h
Traders World Digit al Magazine, subscribers
will cont inue t o receive t he same qualit y
reviews and art icles from expert t raders
t hat you have come t o expect from us in
t he last 20 years. Our coverage will not
alt er, only t he format , which offers t hese
benefts:
1) I t arrives in your e- mail when it is
released aut omat ically.
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document . Once youve downloaded t he
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can view it anywhere on your comput er.
3) I t looks like t he Traders World
Magazine youve known. The format is
t he same, only t weaked for t he digit al
experience.
I t hink you will enj oy t his issue.
Larry Jacobs - Edit or
Editor-in-Chief
Larry Jacobs - Winner of 2001 World Cup Championship of
Stock Trading
Offce
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TRADERSWORLD
Jan - Feb 2011 I ssue # 48
Contents
7 Bei ng Account abl e
By Adr i enne Toghr ai e
11 Dy nami c Tr adi ng Mul t i medi a
E- Lear ni ng Wor k shop Rev i ew
By Lar r y Jacobs
18 Vant agePoi nt I nt er mar k et
Anal y si s Sof t w ar e Rev i ew
25 Cal i br at i ng Gann s Pl anet ar y
Li nes
By Wi l l i am Br adst r eet St ew ar t
32 The Tr adi ng St r at egi es t o
Empl oy i n Today s Chal l engi ng
Mar k et s
By Gl enn Neel y
40 Ti me Fact or i n Poi nt s of For ce
By Ol ek sandr Sal i v on
42 Not es on Day Tr adi ng f r om Nov y
Pr i nci pl es of Mar k et Fl ow
By Leonar d Nov y
47 I nt r oduct i on t o Roger Babson s
By Ron Jaeni sch
57 Mi ni mi zi ng Fi nanci al Ri sk i n a
Changi ng Env i or nment
By St ev e Sel engut
67 Har moni c El l i ot t Wav e
By I an Copsey
74 Posi t i on Manager f r om CSI
78 Gann and Mur r ey
By T.H. Mur r ey
81 What Real l y Mat t er s Most About
Mar k et s
By Jef f Ri ck er son
85 The Law of Cause and Ef f ect :
Cr eat i ng a Pl anet ar y Pr i ce- Ti me
Map of Mar k et Act i on Book Revi ew
87 Gar t l ey Tr adi ng Met hod Book
Rev i ew
90 17- Year Cy cl e and I nt er est Rat es
Nov ember 1010 Usher s i n Maj or
Tr ansi t i on Per i od
By Er i c S. Hadi k
96 Sy nc Your sel f i nt o t he Mar k et
By Lar r y Jacobs
Advertisers
03 Wor l d Cup Champi onshi ps
06 eSi gnal
08 Tr ader s Wor l d Subscr i pt i on
09 Tr adi ng On Tar get
10 Mi k ul a For ecast i ng
13 Dy nami c Tr adi ng Mul t i medi a
E- Lear ni ng Wor k shop
15 Tr ader s Coach
19 Selfsh investing
20 Vant age Poi nt Sof t w ar e
23 SFO Magazi ne
26 Sacr ed Sci ence
28 Sacr ed Sci ence
30 Sacr ed Sci ence
33 Neo Wave I nst i t ut e
35 Jan Ar ps
37 Gann Number s New sl et t er
38 Tr ader s Wor l d Onl i ne Ex po DVDs
39 ELWAVE
43 Tr ai ni ng f or Tr ader s
44 Jack Wi nk l eman
45 Ti m Bost
46 Speci al i st Tr adi ng
50 NoBSFX
56 Tr ader s Wor l d Onl i ne Ex po # 9
60 Mar k et I nv est ment Management
63 Tsunami Tr adi ng
65 Super Ti mi ng
66 Mer r i man Mar k et Anal y st
73 Tr ader s Wor l d Back I ssues
75 CSI Commodi t y Sy st ems I nc.
79 Mur r ey Mat h Tr adi ng Suppl i es
83 Mar k et Opt i mi zer
89 Mar k et Anal y st
95 Know Your sel f Ast r ol ogy
97 Best Sel l i ng Book s
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F
r om t he t ime we ar e bor n, most
of us lear n t hat we must be
account able for our act ions. Fir st it
is t o our families and t hen lat er t o
our t eacher s, pr eacher s, coaches,
and societ y. Since t rader s ar e alr eady
condit ioned t o be account able, t hey should
make use of t his t ool in r eaching for t rading
mast er y.
Sw eepi ng i t under t he car pet
Traders like t o t hink t hat t hey only need t o
be account able t o t hemselves in order t o
get t he best out of t heir t rading. But it has
been my experience t hat most t raders fail
miserably at t his t ask. So why are t raders
not able t o do t his?
They do not want to:
Be wrong
Admit t hat t hey are changing t heir rules
Face up t o t he fact t hat t hey do not
have good rules
Realize t hat t hey need psychological
help
Realize t hat t hey do not have what it
t akes
I f you are commit t ed t o doing what ever
it t akes t o follow your rules t o reach a
higher level of proft, you should consider
asking someone t o help you wit h t his t ask if
you are not doing a good j ob of it yourself.
Who could t ake on t he role of a t rader s
account abilit y?
A signifcant other
A friend
A t rading buddy
A t eacher
A coach
What would a person need t o help you
be more account able?
A clearly defned set of rules from you
Your commit ment t o t elling t he t rut h t o
t hem
An account ing of t he t rades you t ook
Why you t hink t he t rades you t ook were
good opport unit ies
The risk/ reward rat ios before t he t rade
The money management procedure
you followed
Whet her or not you followed your rules
The lessons you learned
And at t he four mont h periodical review,
t he changes you would make and why

Rew ar d or puni shment
There should be a clearly defned
Bei ng
Account abl e
By Adr i enne Toghr ai e, Tr ader s Coach
predet ermined punishment or reward t hat
bot h of you agree upon for not following
your rules. Here are some examples of
punishment s or rewards t o consider.
Puni shment
No t rading t he rest of t he day
Walk around t he block before t aking
t he next t rade
Twent y push ups
Limit t he size of your t rades for t he rest
of t he week
Rew ar ds
Ten percent of every good t rade will go
int o a rewards account for you
A food or ent ert ainment t reat
Time wit h a special friend
Any - my favorit e, a massage
Concl usi on
When you make yourself account able
in t rading t o someone else, you act ivat e
t hat part of you t hat has already been
programmed for account abilit y. I n doing
t his you will be more account able t o
yourself.
ADRI ENNE TOGHRAI E, a Tr ader s Coach,
is an int ernat ionally recognized aut horit y
in t he feld of human development for
the fnancial community. Her 11 books on
the psychology of trading including, The
Winning Edge1-4 and Traders Secrets
have been highly praised by fnancial
magazines. Adriennes public seminars and
private counseling have achieved a wide
level of recognition and popularity, as well
as her television appearances and keynote
addresses at major industry conferences.
w w w .Tr adi ngonTar get .com
919- 851- 8288
Adr i enne@Tr adi ngOnTar get .com
SUBSCRI PTI ON
TRADERS WORLD
MAGAZI NE Digit al
Cl i ck t o
get t he
48 i ssues on
CD
Cl i ck t o
Subscr i be f or
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I
n t he past few years, t rading courses
have proliferat ed for almost any
t ype of t rading. Some have t aken
advant age of new t echnologies t o
deliver t heir educat ional mat erial,
ot hers have been lit t le more t han Power
Point present at ions wit h voice over. The
Dynamic Trading Multimedia E-Learning
Workshop t akes advant age of E- learning
t echniques t o deliver a comprehensive
learning experience unlike most ot her self-
st udy t rading courses.
Robert Miner has been educat ing
t raders since t he mid- 1980s. He was one
of the presenters at our frst conferences
in 1989 sponsored by Gann- Elliot t Trader
Magazine, t he predecessor t o Traders World
Magazine. At t hat conference over t went y
years ago, he present ed his W. D. Gann
Home St udy Trading Course which was t he
frst independent study course for traders
t hat we are aware of. So, Miner does have
a long and successful hist ory producing
educat ional mat erials for t raders.
Miner s credent ials include publishing
an advisory service since t he mid- 1980s,
writ ing t wo of t he best selling t rading
books of all t ime ( Dynamic Trading and
High Probability Trading Strategies),
winning frst place in the Robbins World
Cup Championship of Fut ures Trading,
being named Guru of t he Year by t he Super
Traders Almanac, speaking at many of
t he t rading conferences for over 20 years
beginning wit h t he Comput rac conferences
over 20 years ago and more.
Miner calls his lat est self- st udy
workshop t he culminat ion of over t went y
years of real world t rading experience
and t rading educat ion. He has t aken
advant age of cont emporary, self- st udy
learning t echniques wit h t he Dynamic
Trading Multimedia E-Learning Workshop.
Following t he int roduct ion sect ions where
Miner discusses t rading as a business,
t rading verses forecast ing and more,
he begins t o focus on each of t he t hree
primary areas of t echnical analysis t hat
are a part of a complet e t rading plan
he t eaches including pat t ern, price and
indicat or st rat egies.
Revi ew : Dynami c Tr adi ng
Mul t i medi a E- Lear ni ng
Wor k shop
By Lar r y Jacobs
Act now f or y our $400 Tr ader s Wor l d di scount ( t hr ough Januar y onl y )
For compl et e i nf or mat i on and t o access t he speci al di scount , go t o:
w w w .dy nami ct r ader s.com/ dt w - t w - 1201.ht ml
Miner describes t hat his t rading
approach is t o ident ify condit ions wit h a
high probabilit y out come and accept able
capit al exposure. He t eaches t hree t echnical
areas t o ident ify t he t rade set ups including
simple pat t ern recognit ion, price reversal
zones and mult iple t ime frame moment um
st rat egies. None of t hese t echnical areas
should be foreign t o t raders but Miner does
approach t hem from unique and more
simplifed perspectives than we usually
are t aught in ot her t rading courses.
As one of t he leading Gann, Elliot t and
Fibonacci t raders and t rading educat ions for
more t han t went y years, we would expect
t he course t o include complet e price and
pat t ern analysis st rat egies. Miner delivers
with a quick and simplifed trend and
count er t rend pat t ern approach derived
from Elliot t wave and price reversal zone
st rat egies, as he describes, go beyond
simple Fibonacci ret racement s.
A unique feat ure of his t rading plan t hat
we have not seen implement ed in ot her
t rading courses is t he Mult iple-Time- Frame-
Moment um- Reversal st rat egy which is
the primary flter taught to identify which
market s have t he best t rading opport unit y
regardless of t he t ime frame t raded.
But , t he heart and soul of t he workshop
are t he last t wo maj or sect ions, Practical
Trade Strategies and Trading The Plan.
I n t hese maj or sect ions, The Dynamic
Trading Multimedia E-Learning Workshop
t eaches t he st udent a complet e t rading
plan from obj ect ive ent ry st rat egies t o
how t o manage t he t rade t o t he exit . This
is where t he bar- by- bar screen recordings
are put t o good use as Miner challenges t he
st udent t o ident ify what t o do ( or not do)
as each new bar is added t o t he chart . This
is as close t o a live t rading and educat ional
experience t hat is possible.
Each sect ion is divided int o 5- 10
relat ively short modules. Each module
includes background inst ruct ion, st ep- by-
step and bar-by-bar details of the specifc
t echnical or t rading st rat egy followed by
a summary and short quiz. Each module
also includes a PDF fle of the summary of
t he key st rat egies t aught in t he module so
t he st udent will compile a complet e quick
reference guide of t he ent ire workshop
and t rading plan.
The Dynamic Trading Multimedia
E-Learning Workshop is not a quick st udy.
Miner st at es it should t ake a st udent about
30 hours t o complet e t he course including
all of t he st udy mat erials and t he quizzes.
We don t believe t his is t oo much t ime t o
learn a comprehensive t rading plan from
a 20+ year vet eran. Miner warns t he
st udent s t o st udy t he workshop in t he order
t he sect ions were designed because each
module builds on t he st rat egies t aught in
t he prior modules. Aft er t he ent ire course
is complet e, t he st udent can t hen go back
to specifc sections to review at any time.
I t hink The Dynamic Trading Multimedia
E-Learning Workshop is an except ional
course for any t rader and any t ime frame.
To view a video of the trade strategies
taught in the Dynamic Trading Multimedia
E-Learning Workshop and a special offer
for Traders World Magazine, CLICK HERE.
( goes t o ( http://www.dynamictraders.
com/dtw-tw-1201.html)

Dy nami c Tr adi ng
Mul t i medi a
E- Lear ni ng Wor k shop
Li mi t ed Ti me Tr ader s Wor l d Speci al
Of f er
Regul ar Pr i ce: $1297
Tr ader s Wor l d Reader s Pr i ce: $897
A true multimedia learning experience.
Video, bar-by-bar screen recordings, support material and quizzes.
Incorporates the latest in accelerated learning techniques for total comprehensive.
A far more comprehensive learning experience than possible with any live trading workshop.
Learn a complete trading plan from entry to exit for any market and any time frame.
Act now f or y our $400 Tr ader s Wor l d di scount ( t hr ough Januar y onl y )
For compl et e i nf or mat i on and t o access t he speci al di scount , go t o:
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40 hour s of st ep- by - st ep and
bar - by - bar i nst r uct i on.
Thr ough
Januar y
Onl y ! !
by Robert Miner, t he 20- year t rading vet eran
who developed t he pract ical applicat ion of
Fibonacci price analysis and mult iple t ime frame
moment um st rat egies and much more.
Get an Educat i on i n Tr adi ng
w i t h t he
Most money in t rading is made from
catching a signifcant trend. Most money
lost in t rading occurs by missing or being
on t he wrong side of t rends. So t he
real quest ion is How do we prot ect and
preserve our t rading capit al as we posit ion
ourselves to catch the next proftable
t rend?
Signifcant trends are known to emerge
from market consolidat ions and it is
during t hese consolidat ions t hat t raders
experience whip- sawing leading t o
psychological t rauma t hat can cause havoc
wit h a t rader s life, which can cause t he
t rader t o miss t he t rend alt oget her!
I t is said t hat market s t rend
approximat ely 35% of t he t ime, meaning
t hat 65% of t he t ime t hey are t rend- less.
Consolidat ions are known t o occur before
many signifcant market trends and to be
a proftable trader you must learn how to
exploit t hese t rends while not losing your
money when t he market is t rend- less.
Consol i dat i ons: A Tex t book
Defnition
Lets defne a market consolidation. A
dictionary defnition of a market is t he
world of commercial act ivit y where goods
and services are bought and sold; wit hout
compet it ion t here would be no market .
A dictionary defnition of a consolidat ion
is somet hing t hat has consolidat ed int o
a compact mass; combining int o a solid
mass; an occurrence t hat result s in t hings
being unit ed. Reading t hese t wo t ext
book defnitions leads one to believe that
a market consolidat ion is one where t he
compet it ion bet ween buyers and sellers
unit e t o form a compact mass. A t rader s
defnition of a market consolidation is one
where prices have remained range bound
wit hin a narrow price channel.
I s market consolidat ion an area
where lit t le or no new informat ion has
come int o t he market t o cause a great er
disagreement of value or perceived value
which would move prices? And do t rends
occur because t he value or perceived
value is changing so much t hat t he price
must change t o represent t he new value?
Answering yes t o t hese quest ions leads t o
t he conclusion t hat market consolidat ions
are areas where no new value percept ions
are being generat ed. Thus, prices remain
t ight or range bound.
The Nat ur e or Psy chol ogy Of
Mar k et Consol i dat i ons
Consolidat ions by t heir very nat ure can not
last t oo long since t hey become increasingly
unst able wit h t ime. Most t raders view
consolidat ions as a st abilizat ion of price,
but consolidat ions act ually become
increasing unst able wit h t ime. I n fact t he
longer a market remains consolidat ed, t he
more unst able it becomes.
Market consolidat ions have t heir own
cycles. During t heir init ial format ion
t raders are undecided as t o value and t he
price oscillat es. I f t his condit ion cont inues,
t raders percept ions of t his asset s value
remain t he same unt il new informat ion
ent ers t he market t o change percept ions.
Catching Signifcant Trends
Equals Big Profts!
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Unt il new informat ion arrives, t he
consolidat ion becomes narrower and
narrower t o a point where t he consolidat ion
is now very unst able and t his is where new
t rends are born.
The longer or more mat ure t he
consolidat ion is, t he larger t he t rend usually
is as well. Lengt hy or mat ure consolidat ed
market s are so unst able t hat even j ust a
whisper of new informat ion coming int o a
consolidat ed market can make it move,
but a shout of informat ion can make it
t rend fast !
Once you spot a mat ure consolidat ion,
your t rading approach should be t o
bracket t he upper and lower part of
t he consolidat ion. This helps t o avoid
unproftable whip-sawing trades within
t he consolidat ion channel caused by
insignifcant trading reactions from minor
market informat ion. I t is import ant t hat
your t rading approach not react t o every
whisper of informat ion t hat t he market
ultimately fnds meaningless.
By bracket ing your t rade ent ries above
and below t he consolidat ion channel, you
aut omat ically eliminat e unnecessary losing
t rades. I f you are an aggressive t rader
who welcomes t he addit ional risk of a few
losing t rades wit hin t he channel t o achieve
a superior t rade ent ry price, t hen you
should wait for t he mat ure consolidat ion
t o get very t ight and t hus very unst able.
This will increase your odds of
successfully timing the next signifcant
t rend and t herefore reward your aggressive
ent ry approach. Just as import ant as t he
lengt h or t ime of t he consolidat ion is t he
low Average True Range or volat ilit y of
prices in recognizing t he mat ure end of
the consolidation before a signifcant new
t end emerges. I t is import ant t o not e
that not all signifcant trends emerge only
from market consolidat ions. But if you
recognize a consolidat ion in t he market ,
the potential is great for a signifcant trend
t o emerge if t he consolidat ion has become
so consolidat ed it is now also become
unst able.
Fi ndi ng & Moni t or i ng Mar k et
Consol i dat i ons
The frst step is to fnd markets that are
in consolidat ion so you can be ready t o
t rade t he breakout when it occurs. To
fnd these consolidated markets, it will be
best t o scan for market s will low volat ilit y
and narrow price movement . Look for a
consolidat ion wit h at least 20 price bars
before considering it for a pot ent ial t rade
based on bracket ing t he high and low of
t he channel.
Since market s can consolidat e for
weeks and even mont hs, you will want t o
monit or several market s simult aneously
while t hey are in consolidat ion, t his way
you do not have t o wait a long t ime before
ent ering a t rade.
Act ive t raders can use t his t echnique t o
scan for t rade set ups, and wit h 9, 000 +
st ocks t he t rader can be quit e act ive! I f
you are a day t rader, you can scan int raday
chart s looking for consolidat ions as well.
Tr adi ng Mar k et Consol i dat i ons
Once you have identifed the consolidation
of at least 20 price bars, t he next t hing
t o do is t o draw a line on t he t op and
t he bot t om of t he consolidat ion channel
effect ively bracket ing t he consolidat ion
Then place your long t rade ent ries one-
t ick above t he upper consolidat ion band,
and your short t rade ent ry one- t ick below
t he lower consolidat ion band.
Wher e To Pl ace Your St ops
Once t he market breaks and begins t o
t rend, st ops can be adj ust ed according t o
market act ivit y, wit h t he init ial st op- loss
being placed on t he opposit e side of t he
consolidat ion channel in relat ion t o which
way t he market st art ed t o t rend.
Tr ade Ex ampl e Combi ni ng
Br ack et i ng
The st ock chart below illust rat es a market
consolidat ion in t he Nort els st ock wit h
upper and lower lines drawn in t hat bracket
t he consolidat ion. Trade ent ries are
placed above and below t he consolidat ion.
Also not e how prices become even more
compressed t owards t he end of t he
consolidat ion j ust before t his market
begins t o t rend. This occurs oft en since
market s usually spring from compressed
price consolidat ion.
When the market fnally breaks above
t he channel you should ent er your t rade
one- t ick above t he upper green colored
band or line drawn on t he chart above.
Your init ial st op- loss is placed one- t ick
under t he lower band and adj ust ed upward
as market act ivit y warrant s.
Concl usi on
Somet imes one good t echnique is all we
need to be proftable traders. Trading from
market consolidat ions may j ust be t he
t rading t echnique you have been looking
for.
Whet her youre a fut ures t rader, st ock
t raders, day t rader or posit ion t rader,
adding t hese t rading concept s t o your
t rading t oolbox should prove wort hwhile.
www. TradersCoach. com
T
rading is hard work normally,
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I n t he t rading world, t he t rend is t ruly
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VantagePoint has been serving traders
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what , at t he t ime, was his revolut ionary
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t rading soft ware for personal comput ers.
Market Technologies has cont inued
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t o global int ermarket dat a, while adding
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market s covered, and generally improving
t he soft wares funct ionalit y and user-
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Pr oduct Ov er v i ew
VantagePoint software provides leading
indicat ors for more t han 600 market s in
four major categories: f or ex , f ut ur es,
st ock s, and ex change- t r aded f unds
( ETFs) . The f or ex cat egory includes
t he eight maj or currency pairs and 13
import ant cross rate pairs. The f ut ur es
category covers all of the major fnancial
and commodit y market s.
In prior versions, VantagePoint
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newest version has added even more U. S.
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Even more exciting to VantagePoints
cust omer base in over 125 count ries is t he
Vant agePoi nt
I nt er mar k et Anal ysi s
Sof t w ar e
Virtue of Selfsh Investing
Gil Morales Dr. Chris Kacher
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Market pros Dr. Chris Kacher and Gil Morales provide stock set-ups and ETF recommenda-
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Dr. Chris Kacher used his timing model to help generate a long term return
of +18,241.2% in the stock market as verifed by KPMG.
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Dr. Kacher and Gil Morales wrote the book, Trade Like An ONeil Disciple:
How We Made 18,000% in the Stock Market.
2010 market timing results: +83.8% (unaudited results using 3x ETF TYH).
2009 market timing results: +118.3% (unaudited results using 3x ETF TYH).
CONSERVATIVE APPROACH: using market timing model: June 9, 2009 - June 9
2010 +55.1% with exposure to the market less than half the time as audited
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addit ion of 12 Sect or s of
I ndi an st ock s as well as
12 sect or s of Canadi an
st ock s.
VantagePoint has also
expanded it s forecast ing
coverage of ETFs and
now i ncl udes Canadi an
ETFs in addit ion t o U. S.,
int ernat ional, short , and
ult ra short funds.
VantagePoint makes
searching all of t hese
global market s ext remely
easy wit h it s I nt elliScan

feat ure. Users can choose
from more than 70 flters
when scanning market s for
a pot ent ial t rade. When
a market fts the selected
crit eria, a mouse click t akes
you t o t hat chart so you can
decide if you want t o make
a t rade. ( This informat ion
is also available in daily
and hist orical dat a t ables,
which are also export able
int o Excel) .
Leadi ng Techni cal
I ndi cat or s
The real power behind
VantagePoint comes from
t he forecast s provided
by it s leading t echnical
indicat ors derived from
Mendelsohns pat ent -
pending t echnologies,
which he and his research
t eam have been perfect ing
over t he past quart er-
cent ury.
Predict ed short - t erm,
medium- t erm and long-
t erm moving average
crossoversWhen a
predict ed moving average
crosses an act ual moving
average, it suggest s an
impending t rend change.
VantagePoint provides the
opt imal moving average
combinat ions, but users
can also choose t heir own
combinat ions from among
six predict ed exponent ial
moving averages of t ypical
prices and t hree act ual
simple moving averages of
t he daily close.
Pr edi ct ed shor t -
t er m, medi um-
t er m and l ong- t er m
di f f er ences
These indicat ors compare
t he differences bet ween
a predict ed moving
average and an act ual
moving average for t he
various t ime periods. The
predict ed differences act
as a moment um indicat or
in evaluat ing a t rends
st rengt h or weakness and
oft en provide an early alert
about an impending t rend
change.
Pr edi ct ed Neur al
I ndex ( PI ndex )
This propriet ary indicat or
compares t odays act ual
t hree- day moving average
wit h a predict ed t hree- day
moving average t o forecast
whet her t he t ypical price will
be up or down in t wo days.
PI ndex is t he indicat or cit ed
by Market Technologies for
it s accuracy rat es of up t o
86% across a broad range
of market s over a broad
range of t ime. PREDICTED
NEXT DAY HIGH AND LOW
This indicat or gives
t raders a heads- up on what
t o expect for t he next days
t rading range. Breakout s
from t his range can be
used t o ident ify precise
ent ry/ exit point s t o go
along wit h t he short - t erm
forecast s provided by ot her
indicat ors.
Ot her Pr edi ct ed
t echni cal i ndi cat or s
These indicat ors act ually
forecast values one day
ahead for such popular
indicat ors as Moving
Average Convergence-
Divergence ( MACD) ,
St ochast ics, Relat ive
St rengt h I ndex, and True
St rengt h I ndex.
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The VantagePoint charts also provide
ot her informat ion, such as volume, open
int erest , differences bet ween t he predict ed
high or low and act ual high or low. I ncluded
as well is the nifty ProftCalc
TM
t ool, which
let s you inst ant ly see t he difference in
point s and dollars bet ween t wo dat es on
a chart . The t ool even calculat es pips
for forex t raders, and t icks and point s for
fut ures t raders.
The Accur acy of t he Leadi ng
I ndi cat or s
Extensive evaluations and certifed
independent, scientifc studies
conduct ed by Ph. D. mat hemat icians and
rocket scient ist s over decades verify
VantagePoints accuracy statistics.
A recent st udy demonst rat es, once
again, VantagePoints predictive indicators
live up t o t he expect at ions set by Market
Technologies. Here is a summary of t he
accuracy st udy broken down by market
segment for t he period 10/ 30/ 2009 t o
4/ 30/ 2010. Commodi t i es: The average
percent accuracy for t he Neural I ndex was
78. 1%, wit h a low of 73. 3% for E- mini
Silver, t o a high of 84. 7% for ASX All
Ordinaries, E- Mini Japanese Yen, Gas Oil.
For ex : The average percent accuracy
for t he Neural I ndex was 79. 1%, wit h a low
of 74. 8% for Euro / U. S. Dollar, t o a high
of 82. 4% for Aust ralian Dollar / Canadian
Dollar.
ETFs: The average percent accuracy
for t he Neural I ndex was 76. 4%, wit h a
low of 71. 8% for iShares MSCI Germany
I DX, t o a high of 84. 7% for iShares COMEX
Gold Trust .
St ock s: The average percent accuracy
for t he Neural I ndex was 77. 3%, wit h a low
of 70. 2% for Adobe, t o a high of 87. 0% for
Cheesecake Fact ory.
Of course, t here is no holy grail in
t rading, and not hing works 100% of t he
t ime, but increasing t he odds of success
is what trading is all about. VantagePoint
does t his. The fact t hat t raders across
t he globe have successfully ut ilized
VantagePoint since 1991 is a testament
t o it s predict ive accuracy and increasing
relevance in t odays globally int erconnect ed
t rading environment where correlat ions
and hidden relat ionships bet ween relat ed
( and even seemingly unrelat ed) market s
now dict at e market movement s more t han
ever.
Concl usi on
I nt uit ively, t raders realize t hat t odays
markets infuence each other, and the
VantagePoint indicators, relying on
int ermarket analysis and an int elligent
neural- net work process, provide a unique
perspect ive on market s, a perspect ive you
wont fnd in any other analytical software
package. Traders st ill need t o develop
t heir own st rat egies using t hese indicat ors,
but wit h t he out st anding cust omer support
and t he educat ional mat erials available,
t raders quickly get up t o speed, which
makes it possible t o recoup t he cost of
t he soft ware very quickly. The qualit y of
VantagePoint speaks to the adage, You get
what you pay for. I f you are serious about
becoming a successful t rader or invest or
and you are looking for an edge t hat spot s
and helps confrm potentially proftable
t rading opport unit ies, while helping you t o
avoid dangerous traps, VantagePoint is the
t ool for t he j ob.
For mor e i nf or mat i on go t o
w w w .Tr ader t ech.com
Figure 1
T
hrough t he aut umn and wint er of
1948, W. D. Gann hand chart ed t he
May 1949 Soybean fut ures cont ract
t raded on t he Chicago Board of Trade. Unlike
much of Ganns work, t his chart survived
and is publicly available from numerous
sources. Many analyst s have comment ed
on t his chart and a number of t hem have
cit ed Ganns use of planet ary longit ude.
I have reproduced it here wit h cert ain
planetary lines highlighted, as defned by
t he color key below, showing exact ly what
each of t hese lines represent s.
W. D. Ganns 1949 May Soybean Chart
Planet ary Lines Colored
Red Line = Mars Longit ude Blue Line =
Jupit er Longit ude
Green Line Jupit er 255 Horizont al
Dashed Blue = Jupit er 270 Horizont al
We can see here t hat Gann is drawing
t rendlines and price level lines based
upon planet ary longit ude on t his famous
chart, and these lines perfectly defne the
t rend as well as t he t op in t he Soybean
market . Gann never spoke or wrot e in
any det ail about t his t echnique, and t he
few references we have t o it appear only
on some of his most complex and messy
chart s, having t o be deciphered and
reverse engineered by t he ast ut e Gann
analyst in order t o det ermine what he was
act ually doing.
Many people have experiment ed
wit h using t his t echnique, and a number
of soft ware programs have funct ions
which produce variat ions on t his
applicat ion. However, oft en aft er years
of experiment at ion, researchers are st ill
unable t o discover t he t rue pot ent ial of
CALIBRATING GANNS
PLANETARY LINES
By Wi l l i am Br adst r eet St ew ar t
A COMPENDIUM OF ASTRO-ECONOMIC
INFLUENCES PRACTICALLY APPLIED!
TO 110 YEAR ANALYSIS OF THE DOW JONES INDUSTRIAL AVERAGES
BY RICHARD SCOTT
ONE OF THE MOST POWERFUL & ACCURATE ASTRO-TIME PROJECTION TOOLS EVER DEVELOPED!
The Time Projection Technique presented in this course develops a new type of planetary time projection,
through the projecting of pairs or groups of planetary relationships into the future. The result of these
combinations is the projection of highly accurate future turning points with a false signal ratio of only 2
out of 10, or beter. The time projections are highly accurate, generally occurring within a day of the actual
signal, even from points 30 years in the past. Specics of the projections can dene major turns, vs.
intermediate turns, vs. minor turns, and some combinations give very accurate projections of polarity,
whether a turn will be a botom or a top. Using overlapping projections of multiple planetary
congurations serve as conrmations of important turning points, ltering out errors to less than even one
false signal in ten. The course also presents a detailed introduction to astrology, two dierent systems to
project price, and a means to mathematically determine the SPEED of the market. There are numerous
trading examples given for long, intermediate and intraday trading. See our website for more details!
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trading. The difficulty that confronts most astro researchers is that there is too much contradictory material available,
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Richard Scott spent 8 years doing this research, by hand, watching the markets day after day, studying each change,
and then tracking down every influence and lead that he could find which would demonstrate to him the cause behind
market movements. He compiled 110 years of Dow Jones Industrial Average data, and, with his ephemeris in hand,
tracked down every instance of every influence. This course presents the results of that labor, summarized,
simplified, and clearly explained so that any trader can begin tracking and trading planetary influences in the markets
in a matter of weeks rather than years.
It further teaches how to determine the ongoing energetic background environment that the market is traveling
through at all times. This environment is defined by the summation of the underlying planetary energies at any time.
Any projection you have from any system can now be cross-checked with the Planetary Energy Background, and you
can affirm whether a turn will likely be a top or a bottom, or a trend will go up or down. This is very simple to
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Figure 2
t his powerful t ool, because t here is j ust
t oo much variat ion in planet s, harmonics,
set t ings, and market s t o easily make
sense of t his phenomenon. But it t urns
out t hat it is not only due t o t he range of
fact ors t hat leave most people incapable
of applying t his t echnique effect ively, but
also due t o a price and scaling issue.
When Gann drew his May Beans chart ,
Soybeans was t rading below 360 on t he
price scale, so his planet ary longit udes
could easily be drawn right on his chart
using t heir exact longit udinal values. But
in many of our modern market s, prices
have gone t hrough many mult iples of a
$360 price scale, and when t rying t o apply
planet ary lines t o t hese new scales, t he
lines skew and do not provide t he effect ive
insight t hat t hey did for Gann above. This
has been t he issue t hat has led so many
analysts to fail in fnding a real use for this
t ool. What is needed is a calibrat ion fact or
which realigns t hese Key nat ural planet ary
forces t o different market s wit h different
price scales, so t hat t he planet ary lines
can be usefully plot t ed on modern day
market s.
I have come across only one person
who has resolved t his problem, Daniele
Prandelli, who in his new t rading course,
The Law of Cause and Ef f ect , solves
t he puzzle of Ganns Planet ary Price Line
t echnique, by developing a mat hemat ical
offset fact or, or calibrat ion rat e, t hrough
which powerful and effect ive planet ary
lines can be laid out on any chart , in any
market , showing import ant price and t ime
t rigger point s and support / resist ance
levels, which t he market moves bet ween as
if it were pushed and pulled by some kind
of magnet ic force. Wit hout t he use of t his
conversion fact or one can put planet ary
lines on chart s all day long, but t hey do
not give accurat e or consist ent result s t hat
one can count on. The endless variat ions
bet ween t he aspect harmonics can overload
a t rader wit h so much informat ion t hat it
all becomes essent ially useless, unless
THE LAW OF CAUSE & EFFECT
CREATING A PLANETARY PRICE-TIME MAP OF MARKET
ACTION THROUGH SYMPATHETIC RESONANACE
BREAKTHROUGHS IN GANNS PRICE/TIME RELATIONSHIPS

BY DANIELE PRANDELLI
SEE HOW LINES ON CHART CALL MOVES!
Notice how the market just bounces along
from one line to the next, and particularly
how it often turns exactly upon these lines.
Planetary price lines are Magnetic Attractor
Fields which draw the market to them, then
push them away again, giving a trader a map
of the geometric, electro-magnetic lattice that
the market is influenced by. In the same way
that electrons jump between orbital levels,
the market will vibrate between these zones
defined by planetary resonance.
BLACK SUEDE HARDCOVER 240 PAGES
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W. D. GANNS PLANETARY LINES CRACKED USING CALIBRATION FACTOR!
KNOW IN ADVANCE!
EXPLAINS MISSING CALIBRATION FACTOR
WHICH FITS LINES TO ANY CHART!
DETERMINE IMPORTANT ENERGY LEVELS
USING PRECISE MATHEMATICAL RULES
KEY PRICES TO TAKE TRADING POSITIONS
FORECAST CLEAR TARGET EXIT LEVELS
KNOW IMPORTANT TURNING POINTS THRU
CONFLUENCE OF PLANETARY LINES
DETERMINE THE SLOPE OF THE EXPECTED
TREND THROUGH PLANETARY ANGLES
LONG-TERM, INTERMEDIATE AND INTRADAY
This new course unravels the correct application of WD
Ganns Planetary Longitude Lines. Gann used these
lines on his famous May Soybeans chart, but most
people have never been able to figure out how to apply
them as effectively as Gann did. Until now!
This new course explains why most analysts have failed
here! There is a missing conversion factor or calibration
rate which must be used to adjust the planetary
relationships to the scale and vibration of the market at
any particular price level. This book CRACKS the
conversion factor and makes Planetary Lines one of the
most valuable tools youll have in your toolbox.
Simple to apply with the proper software, which is easily
available, this powerful technique will give an added
dimensional perspective to market action. These lines
call both price and time, and are one of the easiest but
most powerful of all Gann tools. Once you know them,
you will NEVER stop using these lines to trade from!
Figure 3
one underst ands how t o mat hemat ically
calibrat e t hese lines wit h each part icular
market . When t his is properly done, t he
planet ary lines serve as a kind of lat t ice or
grid work t hrough which t he market moves
in a predict able and t radable manner.
The following example shows t he
S&P500 I ndex from 2007 t o 2010 wit h
only one planetary infuence, shown by
t he blue lines. Not ice how t he market j ust
bounces bet ween t hese blue planet ary
lines, and part icularly how t he ext reme
tops and bottoms fnd their reversal points
exact ly upon, or very close t o t hese pre-
det ermined price levels.
This is because planet ary price lines
act as Magnet ic At t ract or Fields which
draw t he market t o t hem, t hen push
t hem away again, giving a t rader a map
of t he geomet ric, elect ro- magnet ic lat t ice
that the market is infuenced by. In the
same way t hat elect rons j ump bet ween
orbit al levels, t he market will vibrat e
between these zones defned by planetary
resonance.
The prior example showed only one
planetary infuence overlaid on the chart,
but t here are ot her import ant planet s which
will det ermine ot her import ant levels,
providing confuence points between the
lines for st ronger indicat ions. For example,
on t he following chart we are zooming in
on t he same chart and adding some ot her
planet ary lines, in order t o observe how
a confuence of multiple lines can give us
an even clearer indicat ion of an import ant
bot t om in t he market . This low is t he same
maj or bot t om from t he last chart .
Not ice t hat wit h t he addit ion of ot her
resonant planet ary lines at t his March
2009 Low, t here was not j ust one line t hat
confrmed this Key turning point, but a
huge confuence of multiple lines, the frst
lines creat ing t he init ial resist ance from t he
precipitous drop, with the fnal Low falling
EXACTLY upon the resonant confuence of
BEHIND THE VEIL
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In August of 2009, Dr. Goulden produced 7
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days, with 7 trades, in 7 different markets!
Wouldnt you like to forecast like this?
T-Notes 20-22 August. Result - a pivot low on 21
August, followed by a rally of 241 points to 2 Sept.
Soybeans 17-20 August. Result - a pivot low on 17
August, followed by a 710 point rally in 6 days.
Gold 17- 20 August. Result - a pivot low on 17 August,
followed by a 780 point rally to 8 Sept.
Platinum - 23/4 August. Result - a pivot high on 24
August, followed by a 607 point drop in 7 days.
NY Cocoa 21-24 August. Result - a pivot high on 25
August, followed by a 257 point drop in 4 days.
NY Cotton 21- 24 August. Result - a pivot low on 26
August, followed by a 426 point rally in 7 days.
German Bund 21-24 August. Result - a spike low on
24 August, followed by a 140 point rally in 7 days.
We are extremely happy to announce the release of a new and
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The techniques developed by Dr. Goulden will teach traders how
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3 different planet ary lines!
Anot her fascinat ing element of t his
t echnique is t hat it will demonst rat e t hat
t he market s are cont rolled by nat ural order,
even at t imes where people t hink t here
was random error. The following chart
illustrates the infuence of the planetary
lines on a move t hat was considered by
main- st ream media t o have been caused
by a t rader or comput er error, causing
t he S&P 500 t o plummet 100 point s
during t he days t rading session ( wit h t he
Dow falling about 1000 point s t hat day in
int raday t rading) .
As can be seen above, t he low of t hat
day touched EXACTLY upon the confuence
of t wo overlapping planet ary lines! Aft er
seeing t his, how can anyone believe t hat t he
market s are merely random? Traders who
underst and t hese t echniques KNOW t here
is no random movement in t he market s,
and are well poised t o t ake advant age of
such seemingly chaot ic event s!
I t is a simple fact t hat t he overlay of
t hese powerful planet ary price t echniques
upon any chart adds an ext ra dimension
t o ones market vision and t rading
indicat ions, giving a profound insight
int o t he forces behind real market act ion.
What ever t rading t ools you may use, t he
addit ion of t he Ganns planet ary lines will
provide a signifcantly deeper insight into
t he t rue cause of market reversals! We
have no doubt t hat , once underst ood, no
t rader will ever again place a t rade wit hout
considerat ion of t hese essent ial planet ary
price lines.
William Bradstreet Stewart
Sacred Science Institute
Institute of CosmoEconomics
800-756-6141 - 951-659-8181
www.sacredscience.com
institute@sacredscience.com
Figure 4
The Tr adi ng St r at egi es t o Empl oy i n
Today s Chal l engi ng Mar k et s
By Gl enn Neel y , Founder , NEoWav e I nst i t ut e
N
o mat t er what t rading t echnique
or met hodology you employ,
ult imat ely, t here are only t hree
zones you can enter a market:
near t he bot t om, near t he t op or near t he
middle. I f you ent er a market near t he
bot t om of it s range, you could be called a
Bottom-fsher (if you bought) or a Trend-
follower ( if you sold) . I f you ent ered near
t he t op of t he range, you can be called a
Trend- follower ( if you bought ) or a Top-
picker ( if you sold) . When you ent er af t er
a market s high or low, on a pullback
t oward t he cent er of it s range, you might
be called a Bargain hunt er ( which breaks
down int o t wo cat egories - an Accumulat or,
if you bought , or a Dist ribut or, if you sold) .
Despit e t he incredible universe of
market systems available to the fnancial
indust ry, ALL t rading t echniques fall int o
only one of t hree cat egories ( i. e., Top/
Bottom-fshing, Trend-following or Bargain
hunting). By defnition, a market will
spend about 1/ 3 of it s t ime in each port ion
of a market s 3 ranges; so, each approach
t o t rading works about 1/ 3 t he t ime. As
a result , if you do what most do ( i. e.,
st ick t o one t rading st yle) you will make
money about 1/ 3 t he t ime and lose money
t he ot her t wo- t hirds. I f you want t o t rade
successfully 3/ 3s of t he t ime, you must
underst and all t hree phases of market
act ivit y, learn t o det ermine which phase is
unfolding, t hen adj ust your t rading st yle t o
ft that environment.
I n t his art icle second in my St ock
Market Predict ions series I out line
t he t hree phases of market act ivit y
Bot t oming/ Topping, Accumulat ion/
Dist ribut ion, and Trending ( up or down)
and t he best t rading st rat egies for each,
including Elliot t Wave/ NEoWave and ot her
techniques. At the end, I provide specifc
t rading recommendat ions for t odays
diffcult trading environment.
Bot t omi ng/ Toppi ng phase of
mar k et act i v i t y
A maj or market t op or bot t om is rare, which
means it holds for a long t ime. Therefore,
you cant have a maj or t op or bot t om
every week. Recognizing a market t op
or bottom can be diffcult, yet extremely
proftable if youre right. Unfortunately,
t his phase of market act ivit y is one of t he
most dangerous t imes t o t rade, because
it can produce repet it ive losses if you
cont inually guess incorrect ly. For example,
in an expanding environment , a market
can be in a t opping phase, yet make minor
new highs over and over wit hout changing
t he fact t hat a t op is forming. The biggest
mist ake I see when t eaching ot hers how t o
t rade is t hat t hey expect or forecast maj or
market turns all the time (by defnition,
t hat cant be t rue) , which is why t hey end
up losing so oft en.
Accumul at i on/ Di st r i but i on
phase of mar k et act i vi t y
For t his sect ion, let s focus on Accumulat ion
frst. After bottoming, a market may
bounce off it s low and experience a period
of back- and- fort h consolidat ion. This
occurs because fnancially powerful traders
are accumulat ing posit ions, preparing
for t he fut ure market advance. While
wealt hy t raders accumulat e posit ions, less
experienced, under- capit alized t raders
might panic ( t hinking t he market will go
lower) , or be forced out ( due t o lack of
capit al) as t he market ret est s it s bot t om.
. While a maj orit y of t raders are selling
int o t he market s decline, t hat public
act ivit y makes Accumulat ion possible for
a minorit y of wealt hy t raders. I n ot her
words, when t he maj orit y of t raders are
selling, t he wealt hy underst and t his is an
excellent t ime t o buy ( hoard posit ions) , and
they have the fnancial patience to wait
for t he demand environment t o change,
forcing prices higher. Dist ribut ion phase
is t he exact opposit e of t he Accumulat ion
phase.
Tr endi ng phase of mar k et
act i vi t y
Cont inuing our discussion from above,
once nearly all posit ions t hat can be bought
have been purchased, t he Accumulat ion
phase is complet e. Most t raders are
commit t ed t heyve laid t heir claim and
are now wait ing for t he market t o move
t heir way. During Accumulat ion, wealt hy
t raders capt ure nearly all supply in t he
hope fut ure demand will make t heir long-
t erm commit ment wort hwhile. This set s
t he st age for t he Trending phase of market
act ivit y. As t he economy improves as
it always does t he public realizes t he
end of t he world did not occur; so, t heir
willingness and abilit y t o invest increases.
Over t ime, growing public demand forces
prices upward. ( Remember Economics
101: increasing demand coupled with
limit ed supply creat es higher prices. )
I n comparison t o t he prior t wo phases,
t he Trending phase last s t he short est
period. Generally, its the most diffcult
phase to proft from because most traders
are uncomfort able ent ering a market well
aft er t he bot t om ( t hey realize t hey are no
longer get t ing a bargain) .
Whi ch t r adi ng st r at egy shoul d
y ou empl oy dur i ng each
phase?
Bot t omi ng/ Toppi ng At market
ext remes, NEoWave or Elliot t Wave t rumps
all ot her t echniques, leaving lit t le doubt
what will happen next and what t o do. During
t his phase, Wave t heory clearly port ends
market pot ent ial, allowing you t o cat ch
maj or t urns. I ronically, at such t imes, t he
public ( and your friends! ) will have t he exact
opposit e market perspect ive, leaving you
a lone voice in t he woods. Consequent ly,
profting from Wave theory requires the
abilit y t o ident ify pat t erns and ent er when
mult iple pat t erns simult aneously end.
I dent ifying and ent ering at maj or market
t ops or bot t oms makes most t raders
ext remely uncomfort able. As a result ,
placing your t rust in Wave t heory at t his
t ime requires ment al fort it ude and t he
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personal confdence necessary to buck the
maj orit y and t ake an unpopular posit ion.
Though it oft en appears cont rary t o logic
or reason, following NEoWave ( or Elliot t
Wave) during t his phase of a market s
development generally offers t he great est
possible reward.
Accumul at i on/ Di st r i but i on Aft er
a maj or t op or bot t om, a market will
t ransit ion int o a choppy period ( above it s
low or below it s high) . Wave t heory can st ill
be useful at such t imes, but it s usefulness
begins t o diminish. I nst ead, oversold and
overbought indicat ors t end t o be more
useful, allowing you t o t rade t he range,
get t ing in or out at each market oscillat ion.
The longer t he consolidat ion, t he longer
you should inst it ut e t his st rat egy.
For example, let s say you have int erest
in t he Gold market . I n t his scenario well
assume Gold recent ly began rallying from
t he $900 level. As one who desires t o
accumulat e Gold, you pat ient ly wat ch it
rally t o $1, 000, which in hindsight enables
you t o see t he market creat ed an import ant
and obvious low at $900. That observat ion
allows you t o obj ect ively implement
your accumulat ion st rat egy. When Gold
begins t o pullback from t he $1, 000 level
( not ing t his level) , carefully wat ch your
indicat ors for an oversold condit ion similar
t o what occurred near t he $900 low. I f
t hat oversold condit ion occurs when Gold
is around $950, it s t ime t o buy. I f Gold
lat er exceeds $1, 000, you can decide t o
liquidat e some of your posit ion OR simply
wait for t he next oversold condit ion t o
pick up even more Gold. This process can
be repeat ed over and over each t ime t he
market exceeds it prior not ed high.
Tr endi ng ( up or dow n) As I
discussed in my previous int erview,
t his market phase can be random and
unpredict able. Here, Wave t heory is least
useful. During t he Trending phase, it s best
to do what most people are afraid to do:
buy int o market st rengt h. Keep in mind,
st rong market t rends are not common,
especially t hose in which you can buy int o
a new high or sell int o a new low. When
st rong market t rends happen, t hey can
yield t remendous ret urn in a very short
period, far out weighing result s you might
get from ot her market phases.
While it s clear when a market is
t rending, a safe, low- risk ent ry may be
diffcult to identify. So, what do you do?
To explain, let s cont inue our Gold market
example: Gold bottomed at $900, rallied
t o $1, 000, t hen sold off t o $950. I f t he
Accumulat ion phase has ended, Gold will
next move int o an upt rend. This is when
t he scary buying- int o- highs st rat egy
act ually works. I n our example, you would
place an order t o buy Gold at $1, 001; if
act ivat ed, your st op would be j ust below
$950 ( say $949) . This way, you are going
with the fow of the market, letting it
identify your specifc entry and stop points
as it progresses. When implement ed at
t he right t ime, t his st rat egy produces t he
greatest proft in the shortest period.
Today s chal l engi ng U.S. st ock
mar k et : What phase i s i t i n?
Whi ch t r adi ng st r at egy shoul d
y ou use?
Aft er rallying for nearly 2 years off 2009s
low, t he U. S. st ock market is now ( mid
January 2011) in t he t op 1/ 3 of it s price
range from t he 2007 high. As a result , your
focus should be on Top- picking. During
Chart 2.png
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RISK DISCLOSURE
There is a risk of fnancial loss in trading and investing.
t his period, wave t heory works best . Make
sure t o wait for st ruct ure t o complet e on
all t ime frames, st art ing wit h t he largest
time frame frst (this means monthly). As
mont hly st ruct ure clears and warns a t op
is near, drop down t o weekly chart s and
make sure pat t erns on t hat t ime frame are
close t o ending. I f t hat is t rue, move t o
daily wave chart s and wait for st ruct ure t o
end on t hat t ime frame. I f all is in order,
you are ready t o sell on weakness wit h a
st op at t he est ablished high OR sell- int o-
st rengt h wit h a st op 2- 3% above current
prices ( t his approach requires t he market
not rally t oo much aft er you get in, so is
a little riskier). Waiting for confrmation,
by selling- int o- weakness, is generally a
better idea, but it does reduce future proft
pot ent ial.
About t he aut hor
Founder of NEoWave I nst it ut e, Glenn Neely
is int ernat ionally regarded as t he premier
Wave analyst . He has devot ed more
t han 25 years t o mast ering Wave t heory,
st ock market predict ions, and successful
t rading. I n 1990, Neely published his
advanced Wave analysis process in his
classic book, Mastering Elliott Wave. I n
t he following decades, Neely cont inued t o
evolve Wave t heory t o make it obj ect ive,
pract ical, and consist ent ly accurat e. This
evolut ion produced NEoWave t echnology
a precise, st ep- by- st ep assessment of
market st ruct ure, which result s in low- risk,
high-proft trading and investing. See for
yourself: Subscribe to NEoWaves 2-week
Trial Service. Learn more about Glenn Neely
and NEoWave Trading and Forecast ing
services at www. NEoWave. com.
Tr ader sw or l d
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Char t Pat t er ns
Fi bonacci
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WWW.ELWAVE.COM/tw
Trade with confidence
Introducing ELWAVE 9.5
ELWAVE is a registered trademark of Prognosis Software Development, Netherlands. TradeStation is a registered trademark of TradeStation Technologies, Inc.
All trademarks are the property of their respective owners.

There is risk of loss in trading. Neither TradeStation Technologies nor any of its affiliates has reviewed,
certified, endorsed, approved, disapproved or recommended, and neither does or will review, certify, endorse, approve, disapprove or recommend, any trading
software tool that is designed to be compatible with the TradeStation Open Platform."
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P
oint of Force is an
area on t he chart ,
where st rong
price levels and
signifcant time
periods int ersect . There is
a great number of t ools,
which help t o ident ify
levels, where price can
meet resist ance or support .
Congest ions of price levels
are much st ronger t han a
single level, but t here are
always few congest ions.
How do you know where t he
trend will fnally reverse?
Here we fnd importance
of Time Fact or. I f t ime for
t he move elapsed price
will st art moving in t he
opposit e direct ion from t he
nearest signifcant level.
Pr i ce met hods i n
act i on
Today we will work wit h
November Wheat chart and
reveal reasons for t he price
soar in July. First we fnd
out t hat in January-June
by Ol ek sandr Sal i v on
2010 price movement was
weak, i. e. price slid t o t he
new low and t han ret urned
higher t hat low, while if
it remained below - t his
would be an indicat ion of a
st rong st ruct ure. Only t his
would t ell us t hat Wheat
price is about t o change
medium- t erm t rend for at
least few mont hs rebound.
To fnd where the fnal
bot t om might t ake place -
add 50% of t he previous
range ( Figure 1) .
Considering t he dat e
of reversal we can t ake 5
mont hs from January 11
t op and one year from June
2, 2009 t op. I f you t ake
some t ime t o invest igat e
reversal dat es, you will
fnd more confrmations of
t he early June import ance.
Dividing 633 t op by 6 you
get 105.5 and fnal bottom
appeared exact ly on 105
t h

t rading day. Buying on June
Ti me Fact or
i n Poi nt s
of For ce
11
t h
or even on June 30
t h

after classical confrmation,
one should hold unt il daily
swings showed st rengt h,
consequent ly moving
t railing st op under t he
swing low or low of t he
second day back.
To fnd where Wheat
will fnd resistance on the
way up - t ake 1284 t o 473
price range and divide it in
8 part s, adding 1/ 8
t h
t o 473
low we get 574, 676, 777,
879, 980, 1081. Also t ake
633- 473 range and ext end
it adding 1, 1. 5, 2, 2. 5, 3
ext ensions ( Figure 2) . I n
t he Square of 9 - 47 ( 473)
is 90 degrees from 88
( 876) and 473 is 4 cycles
minus 45 degrees from
869. Playing wit h t hese
t ools you will underst and
t hat congest ions around
675, 870 and 960 will be
import ant . Two of t hem
worked precisely, should
we wait for 960?
Ti me i s i ni t i al f act or
f or change i n t r end
But how we would know
that June 9 is a fnal
bot t om and t hat price will
not st op at 533 or 574. This
quest ion can be answered
only by st udying cycles.
No mat t er how good price
levels and indicat ors signify
a reversal, if t he cycle is
calling for a higher t op
or lower bot t om - it will
event ually t ake place in
predet ermined t ime.
Final higher low in t he
frst week of July before
price skyrocket ed was
ext remely import ant as
we had synodic Jupit er-
Sat urn cycle t raveled 45
degrees from Feb 27, 2008
and Sat urn proceeded 108
degrees from Apr 29, 2002.
Following only price
levels we would close
posit ions on 574, 675 or
770, but underst anding
t hat t his is a maj or change
for few mont hs you would
hold unt il see 870, and t hen
added aft er rebound.
We see how beaut iful
market s are, how amazing
and precise result s you can
achieve aft er researching
market s own individualit y.
Oleksandr Salivon has been
studying the markets for 7
years. He learned all known
methods of market analysis
but was not satisfed
with their accuracy until
discovered precise tools in
the works of W.D. Gann.
He did his own research
in Astronomy and applied
it to the soybean and
wheat markets. He may be
reached at soyb@asalivon.
com.
Suggested reading:
W. D. Gann, Mast er
Commodit ies Course
W. D. Gann, Tunnel Thru
The Air
S
ince t he advent of elect ronic
t rading, day t rading has become
t he most sought aft er and t he
most elusive of t rading regimens.
There are t housands of syst ems and
met hods t hat t ry t o capt ure consist ency
of market action only to fnd that markets
display a wide array of personalit ies
t hat defy coincident al meet ing point s
designat ed as t he buy or t he sell wit hin
t he syst em or met hod.
This art icle will at t empt t o shed some
light on organizing short t erm t rading as
it is viewed from t he st andpoint of Novy
Principles of Market Flow.
NOTES ON DAY TRADI NG f r om
Novy Pr i nci pl es Of Mar k et Fl ow
While t here is not enough space in t his
brief art icle t o cover t he many aspect s of
t his large body of work t here are some
concept s t hat I would like t o share wit h
t he readers in hopes of adding clarit y t o
what it is t hat t raders do irrespect ive of
t he design of t he met hod or syst em t hat
by Leonar d Novy
you are using.
I n Novy Principles of Market Flow day
t rades fall int o one of t wo cat egories.
Scal pi ng and Posi t i on Day Tr adi ng.
SCALPI NG
Most met hods and syst ems at t empt t o
use very short t erm int raday t ime frames
for ent ries and exit s while using longer
t erm int raday t ime frames as a direct ional
guide.
Here are some concept s you might
want t o consider. I hear t raders say t hat
t hey want t o be scalpers. . I j ust want t o
cat ch a few t icks. There is not hing wrong
wit h t hat as long as t he t erm scalping is
better defned to a condition in the market
t hat will allow t hat t o happen.
We at Training For Traders defne
scalping as t rading an impulse or energy
pocket in t he direct ion of t he market
fow. For those kinds of trades there
should generally be no draw down. The
expect at ion should be t hat t he t rade is
elect ed and it moves as planned wit h very
lit t le hesit at ion.
I n order t o arrive at t hat condit ion,
short t erm t iming signals should be
moving from t he cent er of t he scale ( ZMZ
= Zero Moment um Zone) out wards t o t he
ext remes.
Scalping is a t echnique applied t o a
condition in the market fow where energy
and moment um are about t o surge. Once
in t he t rade, t he t rader can money manage
the fow to clip off quick profts or to turn
a short t erm t rade int o longer t erm winner.
POSI TI ON DAY TRADI NG
www.TrainingForTraders.com
Leonard Novy
Sign up for Free Critical Interim Updates at www.TrainingForTraders.com
Go to www.GatesOfConfirmation.com for Up Coming Free Webinars
Novy Principles of Market Flow are not a Method or a System.
Use the Natural Flow of the Market to your Advantage
Contact: Leonard Novy at info@trainingfortraders.com.......Ph 760 841 1522 Calls returned Promptly
Posit ion day t rading is t ypically for t raders
who use Fibonacci Ret racement s or Pivot
Point Support and Resist ance or Line
Drawings, Bollinger Bands or Moving
Average Support and Resist ance et c, who
are wait ing for t he market t o hit a t arget
for an ent ry in t he opposit e direct ion. Most
of t he t ime, t hese t arget s will be over run
wit h emot ion.
This means t here will be draw down. This
is a development al area where t he market
is running int o opposing forces t hat cause
for a lot of back and fort h movement . I f
your expect at ions are t hat you will need t o
place a st op loss t hat adj ust s t o t he current
volat ilit y t o allow for t he t rade t o develop
t hen you are in t he right frame of mind.
I f you t ry t o scalp under t hese condit ions
you are likely t o lose most of your money.
Scalpers don t like using big st op losses
and shouldn t be playing in t his arena.
Posit ion day t rading is for players who like
t o t rade areas of support and resist ance
rat her t han energy pocket s
In Summary: The idea with Scalping is
to fnd a repeatable and consistent action
t hat moves t he market inst ant ly in t he
int ended direct ion wit h no draw down. I t s
a performance t rade and it must perform.
That is t he condit ion.
The idea wit h Posit ion Day Trading is
t hat it is development al in nat ure and
requires pat ience along wit h accept ance
of draw down. The expect at ion is t hat
t arget s will be over run before t he t urn
comes and one must measure risk relat ive
t o t he current volat ilit y. The condit ion for
Posit ion Day Trading is different t han for
Scalping.
For more information on Novy Principles
of Market Flow please contact me at info@
trainingfortraders.com or 760 841 1522
or go t o www.trainingfortraders.com

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What every trader needs to know
about the astro-trading advantage.
The old mans advice wasn't given
lightly.
As a veteran trader, he had decades
of experience under his belt.
He was doing his best to counsel a
young man who had decided to
become a trader too.
When you first start out, the
mentor said, youll learn a lot about
the companies behind the stocks.
Youll read balance sheets and
earnings statements, and look for
undervalued equities. But as you
begin to trade, you will discover that
the fundamental approach has a lot
of limitations.
Then you'll start to explore
technical analysis. Youll try
different kinds of oscillators,
stochastics, and moving averages,
and in every case, you'll eventually
discover that they don't give you the
trading edge you need.
If you stick with trading after that,
youll probably get to the point
where you take a look at cycles
analysis and Elliott Wave theory,
and you'll start to see patterns in
price charts that you hadn't noticed
before. But after a while, you will
understand that those wave counts
are pretty subjective, and you won't
trust them so much as indicators for
your trading, either.
If youre lucky, and if you dont
lose your trading capital, youll hang
around long enough to encounter
Fibonacci ratios, and if you work
with them persistently you will be
amazed at how well they connect
with key market movements. There
is a lot of value in those Fibonacci
numbers, and if you learn to use
them they will add a lot of positive
potential to your trading.
And maybe then you will stumble
upon the most valuable trading tool
of all, the one that not many traders
are even willing to talk about. Thats
financial astrology. You may hear it
being ridiculed, but you should
definitely take it seriously.
Actually, most of the biggest banks
around the world have astrologers
they confidentially consult with
about trading opportunities and
market trends. But of course those
banks never publicize that fact.
When you use astrology in your
trading, youll start to understand the
way the markets really work. And
then you wont need to get any more
advice from old fools like me.
I Was Excited To Hear It
I cant personally vouch for that
story. I wasnt on the scene when the
original conversation took place.
But thats the way it was told to me,
and I have to admit I was really
pleased when I heard it.
You see, astrology is vital for me
and my own trading and analysis.
As you may or may not know, I
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I started using astrology more than
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Along the way, Ive exposed key
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Transneptunian dynamics, planetary
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The results have been phenomenal.
And I was just wondering if you
would be as surprised as Ive been in
discovering what its like to enjoy
and profit from an outcome like that.
But whether or not youre an
experienced trader, if youre now
thinking about using astrology at all
there are a few absolutely critical
things you need to understand.
In fact, if you dont consider them,
the markets will eat you alive.
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Tim Bost
R
oger Babson was at t he New York
st ock exchange on March 14, 1907,
at t he request of a friend. The
market had st art ed a drop from a high
of 111 on March 6, 1907 on t he way t o a
low point of 60. Much of t he drop occurred
on March 14. On t hat day I act ually saw
mens hair t urn gray. Roger wrot e in his
aut obiography.
I t mot ivat ed him t o do
a st udy of st ock exchange
t ransact ions and what
he referred t o as foolish
invest ment s. He came t o
t he conclusion t hat t he cost
t o even t hrift y invest ors was one and a half
billion dollars a year at t hat t ime. At t hat
point he made a life changing decision,
t o do somet hing t o prevent t he losses. I t
put him on t he pat h, which result ed in t he
founding of Babson Business St at ist ics,
Babson Business College and t he Gravit y
Research Foundat ion.
Prior t o Babson graduat ing from M. I T.
in 1898 he sat in Professor Swains Civil
Engineering class. To make t he class more
int erest ing, Professor Swain used st ock
market chart s t o illust rat e t he applicat ion
of I saac Newt ons laws part icularly of t he
law of act ion and react ion. Babson used t he
exercises learned in t he class t o develop
his met hod of analyzing t he st ock market
and invest ing, subsequent ly making his
fortune as a fnancial advisor and investor.
Roger Babson, himself said t hat
his int erest in gravit y st art ed wit h t he
I nt r oduct i on t o Roger Babson s
Figure 1
by Ron Jaeni sch
childhood drowning of his older sist er in
a river near Gloucest er, Massachuset t s.
I n an essay called Gravit y- Our Enemy
No. 1, he wrote, She was unable to fght
gravit y, which came up and seized her like
a dragon and brought her t o t he bot t om
One of t he t hings he valued t hroughout
his life was learning about t he Brit ish
scient ist , mat hemat ician, and philosopher,
I saac Newt on. Roger Babson was impressed
by Newt ons discoveries, especially his
t hird law of mot ion- - For every act ion
t here is an equal and opposit e react ion. He
int uit ively combined Newt ons various laws
of mot ion, and focused upon t he easiest t o
explain t o t he public, which was t he t hird
law of mot ion. He event ually incorporat ed
Newt ons t heory int o many of his personal
and business endeavors. Lat er in t his
article the reader will see how specifcally
Newt ons Act ion React ion t heory is applied
t o t rading.
Upon graduat ing in 1898, Roger
knew for cert ain t hat he preferred an
alt ernat ive career. His fat her Nat haniel
Babson counseled Roger to fnd a line of
work t hat would ensure repeat business
indefnitely. After careful consideration,
Roger Babson decided t o t ry t he world
of fnance and looked for work as an
invest ment banker. I n 1898, Roger began
his business career working for a Bost on
investment frm where he learned about
securit ies, st ocks, and bonds. I nquisit ive
by nat ure, Roger Babson soon knew
enough about invest ment s t o get himself
fred. Acting in the best interests of his
client s, he had quest ioned t he met hods and
prices of his employer and quickly found
himself out of work. Babson subsequent ly
set up his own business selling bonds at
compet it ive prices in New York Cit y and
t hen in Worcest er, Massachuset t s.
He published his analysis of st ocks and
bonds in newslet t ers and sold subscript ions
t o int erest ed banks and invest ors. I n
1904, wit h an init ial invest ment of $1, 200,
Roger and Grace Babson founded Babsons
Figure 2
St at ist ical Organizat ion, lat er evolved
int o Business St at ist ics Organizat ion and
t hen Babsons Report s, unt il event ually
it t hrived as Babson- Unit ed I nvest ment
Report s. Probably due t o t he I nt ernet and
free st ock dat a, it closed it s doors in 2001.
Babson, in his aut obiography t it led t he
last chapt er How $2, 000 can become
$831, 543 wit hout borrowing a penny. As
t he reader will lat er in t his art icle, t here
are powerful t echniques t hat he developed
t hat are useful for a t echnical t rader t o
achieve and surpass such a goal.
Roger read several books and kept
Brenners Prophecies of future ups
and downs in prices as one of his prize
possessions. He found t hat a part icular
quot e from t he book was import ant t o
remember.
There is a t ime in t he price of cert ain
product s and commodit ies, Which if t aken
by men at t he advance, But if t aken on t he
Figure 3
Figure 4
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decline leads t o bankrupt cy and ruin.
I t was Brenner s book and a book
by Henry Hall, How money is made in
securities investments, t hat Roger Babson
brought wit h him t o an import ant meet ing
wit h his old friend, Professor Swain. I t was
Professor Swain t hat originally int roduced
him t o t he idea of applying Newt ons t hird
law of mot ion t o invest ing.
I t was Professor Swain t hat worked wit h
Roger Babson t o come up wit h a composit e
chart called t he Babson chart .
As can be seen in t he Babson Chart ,
a normal line is drawn t hrough t he chart ,
Times above t his line were t hought of as
t imes of prosperit y and t imes below it were
t imes of recession or depression. Babson
ut ilized t he chart s t o forecast s not only
t he t imes of prosperit y but t he degree and
lengt h of t he periods.
Babson wrot e in his aut obiography, Our
cont ribut ion t o t he analyzing and
Figure 6
Figure 5
forecast ing of business condit ions was
in connect ion of t he areas above and
below t his Normal line. Ot her syst ems
of forecast ing considered only t he high
and low of t he chart s, while our st udies
considered t he areas of t he chart s.
Based upon Newt ons Law of Act ion
and React ion, we assumed t hat aft er
a depression area, equal in area t o
t he preceding area of prosperit y, had
developed, anot her area of prosperit y
would be due. In making these studies we
took cognizance primarily of the shape of
t he areas.
The size and shape of next area of
prosperit y, which was above t he normal
line, was independent of t he size and
shape of t he prior area t hat was below t he
normal line.
Many scholars have examined t he
theory and found it to be fawed. As you
will see in t his art icle, t he scholars did not
Figure 7
Figure 8
t ruly underst and t he concept .
Recent comput er based st udies of t his
t heory have led some t o t he conclusion,
t hat t he area above t he normal line is
very useful at forecast ing t he t urning
point s in t he area below t he normal line.
Furt hermore, as will be shown, t hat t he
ext remes of t he areas above t he normal
line can also be forecast ed successfully
with a few modifcations to the application
t o t heory.
An example of t he applicat ion t o t he
FXI chart above t ook t hree st eps. First ,
using a special prot ocol t he Normal line
was select ed and drawn
There aft er t he high pivot point was
select ed for drawing an Act ion line t hat is
parallel t o t he Normal line as seen in Chart
B.
Finally t he pivot area of t he recession
area below t he normal line was forecast ed
by drawing a React ion line. The React ion
Figure 9
Figure 10
line is always drawn parallel t o t he Act ion
and Normal line. I t is t he same dist ance t o
t he normal line as t he act ion line is.
I n t he above gold chart t he Normal line
was select ed using t he normal line select ion
procedure. There aft er t hree act ion point s
were select ed. Not e t hat t he Act ion and
React ion point s are equidist ant form each
ot her in relat ion t o t he normal line. Not e
t hat when t he normal line is down sloping
t he act ion point s t hat are select ed are low
point s and t he react ion point s are high
point s. The select ion of t he low act ion point s
from ext remes is not universal in t he Act ion
React ion line calculat ions processes. What
is also not universal is t hat in t his case t he
Act ion point s are equal and opposit e t o t he
react ion from t he normal line.
Aft er t he prot ocol has been applied
t o select ing t he normal line in t he above
Semiconduct or I ndex chart . t he act ion
point s were select ed and t he comput er
program drew in t he react ion lines. Not e
t hat in t his case again t he normal line is
down sloping, t he act ion point s are low
point s and t he react ion point s are t ypically
high point s. The act ion point s are equal
and opposit e t o t he react ion point s, when
measured from t he normal- cent er line.
When Alan Andrews drew t he Act ion
React ion lines by hand, t he chart s would
look like t he June 2010 Gold chart above
and t he act ion lines and react ion lines
would be numbered in order t o ident ify t he
pairs of Act ion and React ion point s easily.
I t is well known t hat Roger Babson used
Act ion React ion t heory for indices. Above
is a chart of a st ock where t he Act ion
React ion lines are drawn. The Act ion point
is equal and opposit e t o t he react ion point
when measured from t he cent er or normal
line. The prior t hree examples ut ilized a
peak t o low line for t he normal line, t his
is t he appropriat e line in over 5% of all
chart s.
Roger Babson researched t he applicat ion
of Newt ons t hird law of mot ion and used
it t o forecast import ant t urns in t he st ock
market . Speaking at t he Annual Nat ional
Business Conference on Sept ember 5,
1929 Roger Babson observed, Sooner
or lat er a crash is coming, and it may be
terrifc. JK Gailbraith records: Babson
was not a man who inspired confdence
as a prophet in t he manner of I rving
Fisher or t he Harvard Economic Societ y.
As an educat or, philosopher, t heologian,
st at ist ician, forecast er and friend of t he
law of gravit y he has somet imes been
t hought t o have spread himself t oo t hin.
The met hods by which he reached his
conclusions were a problem. They involved
a hocus pocus of lines and areas on a
chart . I nt uit ion and even myst icism played
a part . Those who employed rat ional,
objective and scientifc methods failed to
foret ell t he crash. I n t hese mat t ers, as so
oft en in our cult ure, it is far, far bet t er t o
be wrong in a respect able way t han t o be
right for t he wrong reasons. Wall St was
not at a loss as what t o do about Babson.
I t prompt ly and soundly denounced him.
Perhaps one of t he reasons t hat Roger
Babson was denounced by JK Gailbrait h,
was t hat his t heory seemed t o simplist ic t o
t hose t hat did not underst and it complet ely.
They would have learned t hat applying t he
t heory was a complex process.
Since Mr. Babson probably did not want
t o confuse his audience he did not give
t he det ails t o t he general public about his
forecast ing met hods, which as you can see
in t he above chart forecast ed t he low in
t he SPX aft er t he market made a massive
drop due t o t he event s of Sept ember 11,
2001.
Comment s made by JK Gailbrait h
indicat ed t hat , Roger Babsons forecast ing
met hods were far more complex t han t he
public was led t o believe. Those t hat came t o
t he Gravit y Research Foundat ion meet ings
such as Alan Andrews, I gor Sigorsky and
Clarence Birdseye were privileged t o t he
det ails.
Alan Andrews t aught
some of t he Act ion React ion
t rading concept s t o t he
public in his Act ion/ React ion
Course t hat he offered aft er
he ret ired as a Professor
of Civil Engineering at t he
Universit y of Miami. I n
privat e sessions and writ ings
recent ly discovered ( oft en
referred t o as t he hidden
cache of Andrews writ ings) ,
he revealed t he many rules
as well as somet hing he
called t he Ore rule. I t is
a mat hemat ical formula
t hat Professor Andrews recommended for
t he select ion of t he Normal lines for high
probabilit y t rades.
When it comes t o Normal lines, t here are
a wide variet y of t ypes of lines t hat may be
drawn and import ant rules as t o which one
t o use under varying market condit ions. I n
addit ion t here are rule set s t o det ermine
t he select ion of Act ion point s, which are
used t o det ermine t he React ion point s.
Wit h t he advent of comput er t echnology
t he rule set s are very easy t o implement .
There is so much more t o underst and
prior t o using t he t echniques for t rading.
This leaves lot s of mat erial for fut ure
art icles.
The Aut hor, Ron Jaenisch is a high
performance psychologist , and has spent
years st udying t he t echniques, much of
which was wit h Dr. Alan Hall Andrews in
Miami. Ron has a library of over 900 pages of
t he writ ings of Professor Andrews, referred
t o as t he lost cache of Andrews writ ing.
The document s are full of rich det ails on
t he day t o day use of t he Act ion React ion
Techniques, how t hey were
applied in real t ime t o
generate substantial profts
and various t echniques t hat
Alan Andrews only t old t o a
select few.
This t reasure of
document s gave Ron a
unique opport unit y t o apply
NLP in order t o model t he
ext remely successful t rading
periods of Dr. Andrews in
t he 1960s and early 1970s.
During t his t ime Andrews
would send out exact t rading
direct ions on Friday for t he
next week via U. S. mail.
During a 6- mont h demonst rat ion period
Andrews was able t o t urn $5, 000 int o
$50, 000 t rading fut ures while giving his
st udent s orders ahead of t ime via mail.
Ron Jaenisch, lives in the USA and his email
address is RonJaenisch@hotmail.com.
His website is www.Andrewscourse.com
where the Updated Advanced Andrews
Course (with manuals and videos) can be
ordered as well as a leather bound copy of
the hidden cache Andrews techniques.

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El l i ot t Wave
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Fi bonacci
Ast r o Fi nance
Cy cl es
Ti mi ng
Psy chol ogy
and much mor e.
Mi ni mi zi ng Fi nanci al Ri sk
i n a Changi ng I nvest ment
Envi r onment
M
ost invest ors incorrect ly t hink
of risk as t he possibilit y t hat
the market value of a fnancial
asset might fall below t he
amount t hat he or she has invest ed in t he
asset . OMG, how could t his be happening!
Think about it . The harboring of t hese
misconcept ions ( t hat lower market price
= loss or bad and/ or t hat higher market
price = proft or good) is the greatest
risk creat or of all. I t invariably causes
inappropriat e act ions wit hin t he large
mass of individuals who are uninit iat ed in
t he ways of t he invest ment gods.
Risk is the reality of fnancial assets
and fnancial markets: the current value
of all securit ies will change, from real
propert y t hrough t ime- rest rained fut ures
speculat ions. Anyt hing t hat is market able
is subj ect t o changes in market value. I t is
as t he gods int ended, and port folios can
be designed so t hat it j ust doesn t mat t er
quit e so much as youve been brainwashed
int o t hinking.
What is abnormal is t he hype surrounding
market value changes and t he hyst eria
such hype causes among invest ors. No way
should a weak real est at e market t ranslat e
int o near zero bank balance sheet ent ries
- - - it j ust doesnt comput e, except when it
is popular polit ics.
Similarly, the reality of fnancial-impact
cycles ( market , int erest rat e, economy,
industry, etc.) just doesnt ft at all into
t he hindsight ful, but popular and generally
accept ed, calendar year assessment
mechanisms. Brainwashing again.
The amount , cause, frequency, range,
and durat ion of market value change will
always vary in an I - don t - care- who- you-
list en- t o unpredict ably cert ain way - - - t he
cert aint y being t hat t he change in market
values of invest ment asset s is inevit able,
unpredict able, and essent ial t o long t erm
invest ment success.
Wit hout t hese nat ural changes, t here
would be no hope of gain, no chance of
buying low and selling higher. No risk, no
profts, and no excitement--- boring!
The frst steps in risk minimization
are cerebral, and involve developing
an underst anding of t he fundament al
economic purpose of t he t wo basic classes
of invest ment securit ies.
From the investors perspective: (a)
equit y securit ies are expect ed t o produce
growt h in t he form of realized capit al gains,
and ( b) income securit ies are expect ed
t o produce spendable ( or reinvest able)
income. But it isn t real growt h unt il it s
realized, or real income unt il it s received.
By St ev e Sel engut
Alt ernat ive invest ment s? These are
t he cont ract s, gimmicks, commodit ies,
hedges, and ot her creat ive ideas t hat
college t ext books used t o call speculat ions.
Once upon a time, fduciaries, trustees,
and unsophist icat ed individuals werent
allowed t o use t hem. The st igma is gone,
but the artifcial demand adds risk to all
market s.
They are especially risky for t he millions
of 401( k) and I RA invest ors who probably
cannot explain t he difference bet ween
st ocks and bonds, from any perspect ive.
Most invest ors have virt ually no clue what
is act ually being done inside t he product s
t hey select , and have even less of an
int erest in learning about it . They dance
knee- j erk st yle t o t he daily media buzz.
Wall St reet knows t his, and t akes
advant age of it mercilessly. I n spit e of
the recent fnancial crisis, pension plan
fduciaries (particularly in the public sector,
go fgure) are falling all over themselves to
t hrow money at t he very alt ernat ive and
derivat ive speculat ions t hat crashed t he
market j ust mont hs ago.
401( k) part icipant s are force fed
product s du j our from self- serving
providor menus t hat make lit t le effort t o
identify risk, much less minimize it. Very
few plans allow part icipant s t o develop an
underst anding of t heir invest ment choices
wit h t he only educat ion provided by t he
product vendors t hemselves.
What ever happened t o st ocks and
bonds, t he building blocks of capit alism? Do
investors recognize the fnancial interest
t hey have in t he very corporat ions t heir
elected offcials are encouraged to tax,
const rain, and regulat e int o compet it ive
mediocrit y?
Anot her ment al st ep in risk minimizat ion
is educat ion. You j ust cant afford t o put
money int o t hings you don t underst and,
or which t he salesman cant explain t o
you in ordinary English, Spanish, French,
what ever.
Of course you would prefer t o skip t his
st ep and j ump right int o some new product
at hlet ic shoes t hat will hurdle you over t he
work and directly into the profts. Hows
t hat been working out for you? I t was once
written (somewhere): no work, no reward.
Risk is compounded by ignorance,
mult iplied by gimmickry, and exacerbat ed
by emot ion. I t is halved wit h educat ion,
ameliorat ed wit h cost - based asset
allocation, and managed with disciplined:
selection quality, diversifcation, and
income rules- - - The QDI .
Real fnancial risk in equities boils
down to: the possibility that a companys
st ock ( t hat 30% share of your brot her- in-
laws pizza parlor) will become wort hless
as management succumbs t o economic
forces, and/ or mandat ed cost s imposed
by out side ent it ies whose edict s must be
complied wit h.
In debt-based securities, risk is: the
possibilit y t hat t he issuer of an int erest
bearing I OU ( t he money your spouse
loaned her brother at 6% to start finging
pizza) st ops or falls behind on it s payment
obligat ions and/ or declares bankrupt cy
and wipes out bot h owner ( shareholder)
and credit or ( bond holder) int erest s.
Heres an int erest ing risk in t he
securit ies market s, one t hat government s
have cleverly refused t o address for
fairly obvious reasons. The Mast ers of
t he Universe rout inely get paid obscene
amount s of compensat ion for risking OPM
( ot her peoples money) perhaps a bit t oo
cavalierly.
Company fails, shareholder int erest s
become valueless, debt obligat ions are
wort hless, while t he fat cat s keep raking it
in, even suing t o preserve t heir bonuses.
Boardroom corrupt ion, and direct lobbying
( anot her euphemism, for bribing) of
elected offcials are two additional risks
t hat invest ors need t o be aware of.
Most people ent er t he invest ment arena
t hinking t hat Risk is a board game t hey
played in college. Today, I would guess
t hat t he maj orit y of invest ors have never
owned an individual share of common
st ock or a Municipal Bond.
The popularit y of invest ment product s
has height ened t he risk for all invest ors
and has indirect ly led t o many of t he policy
errors t hat t hreat en bot h capit alism and
t he economic fabric of America. Market
prices are increasingly and inappropriat ely
infuenced by decision-making based only
on t he derivat ives t hat cont ain t hem.
Few people consider t he invest ment
risk associat ed wit h public policy decisions.
Product invest ors and derivat ive speculat ors
part icipat e in less personal market s, where
it is more diffcult to connect the dots
between their personal fnancial interests
and t heir polit ical alignment s.
So in a very real sense, invest ors
have t o deal wit h public policy risk every
bit as much as t hey need t o analyze t he
risks associat ed wit h t he securit ies and
other fnancial products they hold in their
port folios - - - complicat ed, but it is doable.
Apart form t hese import ant peripheral
considerat ions, t he risk of loss in any equit y
invest ment is generally great er t han t he
risk of loss in any debt relat ed inst rument .
The pot ent ial reward from each t ype is
j ust t he opposit e, and t hat s where all t he
excit ement begins.
Do we risk more for t he chance of a
great er ret urn, or do we risk less and
t ry t o preserve our invest ment capit al?
Keeping in mind t hat invest ment capit al is
a measure of cost , not of market value,
and t hat t he only real loss is a realized
loss.
Typically, t he older t he invest or, t he
more boring or income focused t he port folio
should be - - - minimizing t he overall level
of risk. But its diffcult to actively minimize
or manage your risk in t he open end
mut ual fund or passively managed ETF
market places.
Risk minimizat ion requires t he
identifcation of whats inside a portfolio.
Risk cont rol requires decision- making by
t he owner of t he invest ment asset s. Risk
management requires a select ion process
from a universe of securit ies t hat meet a
known set of qualit at ive st andards.
Product owners assume t he added fear
and greed risk of t he general populat ion,
while t heir fund mangers st and aside and
mumble about t he opport unit ies lost in
eit her direct ion.
Wit hout a risk sensit ive menu t o
select from, 401( k) part icipant s need t o
minimize risk by: (a) avoiding the poor
diversifcation that may be a requirement
of t heir plan, and ( b) developing out side
income port folios wit h any invest able
income above t he employer mat ching
cont ribut ion.
The frst and most important
management act ion focused on risk
minimizat ion in any program is t he
development of an asset allocat ion plan.
The plan separat es liquid invest ment
asset s int o t wo bucket s ( Equit y and
I ncome) based on cost , not market value.
No port folio should have less t han 30% in
The Mar k et Cy cl e I nvest ment Management Met hodol ogy ( MCI M)
St even R. Sel engut
Most invest ors, and many invest ment
professionals, choose t heir securit ies, run t heir
port folios, and base t heir decisions on t he
emot ional energy t hey pick up on t he I nt ernet ,
in media sound byt es, and t hrough t he product
offerings of Wall St reet inst it ut ional boiler rooms.
They move cyclically from fear t o greed and back
again, most oft en gyrat ing in precisely t he wrong
direct ion, at or near precisely t he wrong t ime.
The MCI M met hodology combines risk
minimizat ion, asset allocat ion, equit y t rading,
invest ment grade value st ock invest ing, and
base income generat ion in an environment
whose t ime frame recognizes and embraces t he
realit y of cycles. I t at t empt s t o t ake advant age
of widespread "fear and greed" decision- making
by ot hers, by using a disciplined, pat ient , and
common sense met hodology.
This met hodology embraces t he cyclical
nat ure of market s, int erest rat es, and economies
- - - and t he polit ical, social, and nat ural event s
t hat can t rigger changes in cyclical direct ion.
Lit t le weight is given eit her t o t he short - t erm
movement of indices and averages, or t o t he
idea that the calendar year is the playing feld for
t he invest ment "game".
I nt erest ingly, t he cycles t hemselves seem
t o concur wit h t he irrelevance of calendar year
analysis, and it makes lit t le sense at all t o t hink
of invest ing as a compet it ive event . What index
or average comes even close in cont ent t o your
unique port folio of securit ies?
The MCI M met hodology is not a market t iming
device in any sense of t he word, but it s disciplines
will force managers t o add equit ies t o port folios
more during corrections and to take profts
ent husiast ically during rallies. As a nat ural ( and
planned) effect , port folio "smart cash" levels will
increase during upward cycles, and decrease as
buying opport unit ies increase during downward
cycles. ( See t he "Process" Chart )
Absolut ely no at t empt is made t o pick
bot t oms or t ops, and st rict rules apply t o
bot h buying and selling
disciplines. NOTE: these
rules are covered in minut e
det ail in The Brainwashing
of t he American I nvest or
( click on t he book on t he
left t o order t he book from
Amazon.
Take t he opport unit y t o
come t o t he Ki aw ah Gol f
I nvest ment Semi nar s
for more informat ion click
here.
t he income bucket - - - no ifs, ands, or but s.
And no invest ment plan should be
developed tax or cost frst. Risk
minimization comes frst, and then tax
minimizat ion if possible. Finally, t ransact ion
cost minimizat ion can be considered if you
are qualifed to run your program yourself.
A cost based asset allocat ion approach
( Working Capit al Model) assures growing
levels of base income t hroughout t he
port folio development process and,
possibly, int o ret irement . I ncome growt h,
by t he way, is t he only real hedge against
that other economic risk, infation --- a
buying power problem t hat has not hing t o
do wit h t he market value of t he income
producing asset s.
Minimizing invest ment risk is done
best t hrough t he use of disciplined set s of
rules for t he various operat ions involved in
managing a port folio. St rict rules need t o
be developed for securit y select ion, t hree
types of diversifcation, income production,
and for proft taking.
Forget the Wall Street I-can-fx-that
product menagerie. Were not int erest ed
in massaging our market value t o t ake t he
st ing out of cyclical market value changes.
Our plan is t o t ake advant age of t hese
changes as t hey unwind around us over
t ime, and when t hey occur unexpect edly,
causing short - t erm disrupt ions and
dislocat ions.
I n t he securit ies market s ( st ocks
and bonds) , t he real risk of loss can be
minimized wit hout product s and fut ures
speculat ions, wit hout commodit ies and
hedge funds, and wit hout t he ageda t hat
most people experience t hroughout t heir
invest ment lifet imes.
The old fashioned principles of investing:
Quality, Diversifcation, and Income, plus
disciplined, targeted, Proft Taking are the
only hedges an invest ment port folio needs
t o assure long- t erm success. Convenient ly,
t he QDI + PT applies equally well t o bot h
classes of invest ment securit ies.
Q is for qualit y. I f you st udy t he long-
term behavior of Investment Grade Value
St ocks, and high qualit y income CEFs,
youll discover t hat t hey hedge t hemselves
quit e effect ively.
Risk is wrung out of port folios by
invest ing only in S & P, B+ or bet t er rat ed,
dividend paying, and historically proftable
companies and t hen only when t heir equit y
prices are well below t heir 52- week highs.
D is for diversifcation. Absolutely
never allow any posit ion in your port folio
t o exceed 5% of t ot al port folio working
capit al ( i. e., t he t ot al cost basis) and never
st art a posit ion anywhere near maximum
exposure. You want t o be able t o buy more
at lower prices.
Similar diversifcation rules apply to
industry exposure and global diversifcation
t hrough t he use of t he mainly world class
companies in t he invest ment grade qualit y
cat egories.
I is for income. Own no securit y
t hat does not pay regular, dependable,
dividends or int erest . Regular and growing
dividends are a qualit y indicat or in equit ies.
I n t he income bucket , seek out above
average yields while avoiding t hose t hat
seem eit her t oo high or t wo low.
Managed closed end funds do it best
and provide easy PT and buy more
opport unit ies. Buy est ablished CEFs wit h
long t erm income ( not ROC) payment
records.
PT is for proft taking. Absolutely
always smile and take your profts willingly,
net / net 7% t o 10% ( dependent upon
available reinvest ment possibilit ies and
securit y class) , and never, ever, look back.
Trading t his same body of securit ies,
again and again, has been shown t o sust ain
growt h of capit al and income consist ent ly
in a relat ively low risk environment .
Mar k et Cy cl e I nvest ment
Management Wi t h Ten Ti me
Test ed Ri sk Mi ni mi zer s
In the recent fnancial crisis, a very small
percent age of ( I bought my house t o live
in) homeowners st opped paying on t heir
mort gages. St ill, t he hyst eria over t he
burst ing housing bubble ( i. e., lower market
values) led to fnancial institution road-kill
because of ridiculous account ing rules.
When t he dot - come bubble dest royed
new economy gladiat ors in a gory
spect acle dest ined t o repeat it self over
t ime, what invest ment port folios cheered
unscat hed from t he coliseum bleachers?
I f you reduce t he amount of bet t ing in
your port folio ( and t hrow out polit icians
who don t have a clue about t he workings
of free market s) you can safely navigat e
even t he choppiest seas t hat t he market ,
int erest rat e, and economic cycles roll your
way.
The t ide- like change of market values
is t he normal order of t hings, and unt il we
embrace t he cyclical nat ure of market s,
all market s, our disappoint ment and
disillusionment will cont inue. Port folio
market values will refect where we are
wit hin t he various cycles.
I nt erest rat e sensit ive securit ies ( all
bonds, government securit ies, preferred
st ocks, and relat ively high dividend
equit ies) vary inversely wit h int erest rat e
expect at ions, most of t he t ime.
Where we are in t he int erest rat e cycle
is fairly easy t o det ermine, and you need
t o posit ion yourself t o t ake advant age of
t he higher rat es t hat will sneak int o t he
economic formula as t he cycle moves
furt her and furt her from it s recent lows.
How do we prepare for higher int erest
rat es? By designing t he income bucket
of the portfolio so that it reflls itself with
at least 30% of t ot al port folio realized
income, and by owning income generat ing
securit ies in a form t hat is easy t o add t o.
Wit h a realit y- based perspect ive,
invest ors appreciat e t hat falling market
values are opport unit ies t o add t o port folios.
Loss t aking and cash hording as st op loss
measures for income portfolios is a fawed
st rat egy from all but one perspect ive - - -
t hat of t he salesperson.
That seemingly rat ional form of
at t empt ed market t iming reduces
t he amount of income available for
reinvest ment and living expenses, in an
approach t hat creat es vict ims of higher
interest rates instead of benefciaries. You
need t o welcome bot h higher and lower
int erest rat es, if for no ot her reason t han
t hat you cant prevent t hem.
Dont mess wit h t he invest ment gods;
accept t he cycles t hey t hrow at you; respect
and use t hem wisely for a bet t er chance
of invest ment success. Find meaningful
numbers t hat signal cyclical change and
which chart current posit ioning. Try t he
IGVSI and related Issue Breadth, High vs.
Low, and Bargain Monit or analyt ics.
Bohicket Creek, in coast al Sout h
Carolina, has t ides ranging from four t o
seven feet , t wice a day, every day - - - not
unlike t he gyrat ions of t he st ock market . I f
you are in t he ocean at high t ide, and st ay
t oo long, you risk walking home shin- deep
in Pluff Mud a few hours lat er.
Boat ers run aground by not paying
at t ent ion t o t ides, chart s, navigat ion t ools
and t heir GPSes. I nvest ors get swamped
wit h informat ion, media noise, breaking
news, polit icians, gurus, and derivat ives
- - - so much so t hat t hey cant see t he
oncoming fog banks and t sunamis of
cyclical change.
Most invest ment mist akes are caused by
basic misunderst andings of t he securit ies
market s and by invalid performance
expect at ions. Losing money on an
invest ment may not be t he result of an
invest ment sandbar and not all mist akes
in j udgment result in broken propellers.
Errors occur most frequent ly when
j udgment is rocked out of t he boat by
emot ion, hindsight , and misconcept ions
about how securit ies react t o waves of
varying economic, polit ical, and hyst erical
circumst ances. You are t he commander of
your investment feet. Use these ten risk-
minimizers as lifeboats:
1. I dent ify realist ic goals t hat include
t ime, risk- t olerance, and fut ure income
requirement s - - - chart your course before
you leave t he pier. A well t hought out
plan will minimize t acking maneuvers. A
well- capt ained plan will not need t rendy
hardware or exot ic rigging.
2. Learn t o dist inguish bet ween
asset allocation and diversifcation.
Asset allocat ion divides t he port folio
bet ween equit y and income securit ies.
Diversifcation limits the size of individual
holdings in several ways. Bot h hedge
against t he risk of loss. Bot h are done best
using a cost based approach.
3. Be pat ient wit h your plan and
t hink of it as a long- t erm voyage t o a
specifc destination --- change direction
infrequent ly and gradually. There is no
popular index or average t hat mat ches
your port folio, and calendar sub- divisions
have no relat ionship t o market , int erest
rat e, or economic cycles.
4. Never fall in love wit h a securit y.
No reasonable proft, in either class of
security, should ever go unrealized. Proft
t arget ing must be part of your plan, and
keep in mind t hat t hree sevens beat s t wo
t ens - - - and is much easier t o achieve.
5. Prevent analysis paralysis from
short - circuit ing your decision- making
powers. Limit t he informat ion you allow
int o your course chart ing process, and
avoid any form of fut ure predict ion or bet
covering.
6. Burn, delet e, t oss- out - t he- window
any short cut s or gimmicks t hat are
supposed t o provide inst ant st ock picking
success wit h minimum effort . Consumers
obsession wit h product s underlines how
Wall St reet has made it impossible for
fnancial professionals to survive without
them. Remember: consumers buy
product s; invest ors select securit ies.
7. At t end a workshop on int erest rat e
expect at ion ( I RE) sensit ive securit ies and
learn t o deal wit h changes in t heir market
value - - - in eit her direct ion. Few invest ors
ever realize t he full power of t heir income
port folio. Market value changes must be
expect ed and underst ood, not react ed t o
wit h fear or greed. Fixed income does not
mean fxed price.
8. I gnore Mot her Nat ures evil t win
daught ers, speculat ion and pessimism.
Theyll con you int o buying at market peaks
and panicking when prices fall, ignoring
t he cyclical opport unit ies provided by t heir
Momma. Never buy at all t ime high prices
and avoid st ory st ocks religiously. Always
Super Ti mi ng Book
W D Gann was one of t he most successful
t raders of t he t went iet h cent ury
. While many people relat e t o
gann swing t rading, t he gann
wheel, t he gann square of nine,
t he gann angle and t he gann
line not many appreciat e t hat
William Gann used Ast rological met hods for
his t rading.W. D Gann was a t rader primarily
in the frst half of the twentieth century and
Gann t heory and Gann t rading are st ill widely
studied over ffty years later.Many of todays
t raders of t he dow, nasdaq and commodit ies
market s st ill rely on WD Gann St ock t rading
met hods. Myles Wilson Walker has made a
full and det ailed st udy of WD Gann and his
t rading success and has writ t en a unique
work est ablishing t he link t o Ast rology . This
link is as valid t oday as it was when Gann
was t rading st ocks and commodit ies. Gann
analysis and gann t heory are a fundament al
part of Trading Technical Analysis and st ock
market t heory and Myles Wilson Walkers
research st ands at t he forefront of Gann
books.
I n Super Timing t he formula is shown
in det ail. All of Ganns public predict ions
were analysed t o reveal t he one common
fact or. Super Timing explains all of Ganns
predict ions using t he one formula.
I t shows you which Planet will be
signalling t he next t rend t urn and it works on
all market s.
As well as Ganns t iming met hod
t here is t he price t arget met hod which is
demonst rat ed by his predict ions and from
real life examples in recent market s (t his is
not a planet s longit ude convert ed t o price)
On t his Websit e I have used one of
Ganns chart s t o prove t hat he really did
use ast rology because t here are st ill a lot of
people who t hink he used only swing chart s,
angles or fxed time periods. None of these
can be used t o consist ent ly explain all his
public predict ions.
The real answer is in Super Timing where
you will learn t he pat t ern combinat ion t hat is
found in all of Ganns predict ions bot h long
and short t erm. You will see how t his works
on a swing basis as we work t hrough whole
sequences of short t erm t rades t hat Gann
act ually did. Not hing has been omit t ed.
You will see why he ent ered t he market
when he did and the reason he took profts
only t o re-ent er at a bet t er price t he next day.
The market s covered are coffee soybeans
and cot t on but t he same met hod works on
any market and more import ant ly it is st ill
working t oday. When you t ake t he t ime t o
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HARMONI C ELLI OTT WAVE
By I an Copsey
T
here is no doubt Elliot t Wave is one
of t hose t echniques t hat t raders
eit her love or hat e. For some
it s almost a st at us symbol t o be
able to count waves. Others fnd it just
t oo hard. I have looked over some online
Elliot t Wave forums on an occasional basis
j ust t o have a look at how people discuss
t heir wave count s. I t s not an infrequent
comment I see when some st at e I like
Elliot t Wave but it s like somet hing isn t
quit e right . Ot hers t end t o not adhere
t oo st rict ly t o t he rules and j ust observe
for 5- wave moves. Looking at leading
Elliot t icians analyses t heir count s rarely
any adhered t o any relat ionships
I f you are one of t hese Elliot t icians t hat
have had t hese doubt s when count ing waves
I have news for you Youre absolut ely
right . R. N. Elliot t made a misj udgment in
t he impulsive wave st ruct ure. I am 100%
cert ain of t hat .
THE HARMONI C WAVE
STRUCTURE
Given t hat I believe quit e st rongly in t he use
of nat ural order rat ios in bot h ret racement s
and wave proj ect ions I have spent a great
deal of t ime working out which waves were
relat ed. I t was t hrough t his process t hat I
t hought I not iced a Special Wave A move
t hat Robert Precht er not ed in 1986, a
diagonal t riangle wave development which is
normally associat ed wit h an ext ended Wave
5 was occasionally seen in a Wave A posit ion.
See Figure 1: Prechters Special Wave A
developing in fve sets of three-waves
However, what I was facing was a fve-
wave move t hat developed in a similar
manner t o a diagonal t riangle, in which
Waves ( i) , ( iii) and ( v) all developed in
three waves and not fve This implied that
any individual fve-wave move could only
develop in a Wave A posit ion or in a Wave C
posit ion. I n t he next higher degree t his ABC
sequence act ually formed one sect ion of a
Figure 1
Figure 2
larger fve-wave sequence all constructed of
t hree- waves.
I f I at t empt ed t o apply Fibonacci
relat ionships t o t he st andard count t hat would
t reat t hese as an example of an ext ending
wave everything fell fat. There were no
relat ionships. When I used t he t hree- wave
st ruct ure for Waves ( i) , ( iii) and ( v) t hen t he
wave relat ionships were perfect and t here
was no missing wave at complet ion.
As went t hrough my daily rit ual of
t apping out various pot ent ial waves and
fnding relationships I suddenly found
myself using t his alt ernat ive all t he t ime.
The proj ect ions and ret racement s began t o
become consist ent ly accurat e. See Figure 2
A harmonic impulse wave.
The image displays how t he harmonic
impulse wave now appears. Not e t hat each
Wave a and Wave c are constructed of fve
waves as Elliot t originally proposed. As
opposed to the fve wave impulse move
in Elliot t s original version t hat could form
eit her a Wave 1, Wave 3, Wave 5, Wave A or
Wave C t he harmonic version can only form
Wave A or Wave C.
See Figure 3 A fve-wave decline in the
10- minut e USDCHF market
The chart above displays a 5- wave decline
in USDCHF. While at frst glance Elliotticians
will declare t his t o be an example of an
extending Wave 3 the key to confrming
t his harmonic st ruct ure is t hrough t he wave
relat ionships. Before going on furt her I
should explain how Fibonacci and harmonic
rat ios act ually work.
A decline in t he 10- minut e GBPUSD market Figure 3
APPLI CATI ON OF FI BONCCI
AND HARMONI C RATI OS
I shall not discuss in full how t he Fibonacci
sequence was developed, or t he rat ios, but
merely st at e t he popular ret racement rat ios
of 38. 2%, 50. 0% and 61. 8%. For proj ect ions
161. 8% and 261. 8% are popular.
I n fact , using t he same met hodology
we can derive a whole range of rat ios, bot h
above and below 100%.
Below zero:
5. 6%, 9. 0%, 14. 6%, 23. 6%, 33. 3%,
38. 2%, 50%, 61. 8%, 66. 6%, 76. 4%,
85. 4%, 90. 0% 94. 4%
Above zero:
161. 8%, 261. 8%, 423. 6%, 685. 4%,
1109. 0% 1794. 4%
The Squar e Root of Tw o
The square root of 2, also known as
Pyt hagoras const ant , is t he posit ive real
number t hat , when mult iplied by it self, gives
t he number 2. Geomet rically t he square
root of 2 is t he lengt h of a diagonal across
a square wit h sides of one unit of lengt h;
t his follows from t he Pyt hagorean t heorem.
It was probably the frst number known to
be irrat ional. I t s numerical value t runcat ed
to 5 decimal places is: 1.41421
At frst I wasnt quite sure how to use
t his unt il I began t o sit down and st udy wave
relat ionships and not ed t hat t wo derivat ions
of the number frequently occurred: 41.4%
and it s opposit e 58. 6% being 100 41. 4.
Al t er nat i ve Wave
Rel at i onshi ps
From t he many hours of research int o t he
common relat ionships bet ween waves I
not ed t hose t hat are generat ed direct ly from
bot h Fibonacci and t he square root of t wo
wit h t rending proj ect ions t ending t o clust er
around cert ain rat ios while correct ive rat ios
in Wave ( c) also had it s own clust ers.
What I noted was that specifcally Wave
( iii) it is possible t o t ake t he rat ios less t han
100% and add t hem t o 100%, 200% and
occasionally 300% and 400% et c. These
generated projections of:
Most ly commonly ext ensions in Wave ( iii)
I fnd on a very frequent basis are:
176. 4%, 185. 4%, 194. 4%, 223. 6%,
261. 8%, 276. 4%, 285. 4% and 295. 4%
Most ly commonly ext ensions in Wave ( c)
I fnd on a very frequent basis are:
85. 4%, 95. 4%, 100%, 105. 6%, 109%,
114. 6%, 123. 6%, 138. 2% and 161. 8%
APPLYI NG WAVE
RELATI ONSHI PS TO THE
HARMONI C WAVE STRUCTURE
The key t o t he harmonic wave st ruct ure is
t he requirement for all degrees of t he wave
st ruct ure t o develop wit h relat ionships t hat
confrm each other. For example, very clearly
Wave ( c) must be relat ed t o Wave ( a) , Wave
( iii) must be relat ed t o Wave ( i) and t he Wave
( c) of Wave ( iii) must have t he same t arget
areas. Wit hin t he Wave ( c) of Wave ( iii) t he
Wave v must also develop wit h a rat io t hat
confrms the same targets as the projection
of Wave ( i) and t he proj ect ion in Wave ( c) .
This t ype of harmonious development is key
to confrming the structure.
Now, referring back t o t he earlier chart
of USDCHF t he following relat ionships were
not ed. See Figure 4.
I n t his example t he wave relat ionships are
except ionally accurat e. I t is very import ant
t o not e how t he int ernal ABC relat ionships
confrm the projections of Waves i- through
Wave v- . I n addit ion, while not shown t he
end of Wave ( c) at 1. 0434 should also be a
close relat ionship wit h t hat of Wave ( a) .
I mpl i cat i ons i n Wave
Rel at i onshi ps
As has been ment ioned on several occasions
t he basis quot ed by leading Elliot t Wave
followers is t hat market movement s follow
nat ural rat ios and t herefore t he sequence
of waves in a structure should refect this
principle of relat ionships. However, t he
current st ruct ure fails t o adhere t o t hese
for t he most part . The Harmonic Wave
st ruct ure requires t here t o be nat ural wave
relationships:
Wave c in Wave ( i) should be relat ed t o
Wave a
Wave ( ii) should be relat ed t o Wave ( i)
Wave ( iii) should be relat ed t o Wave ( i)
Wit hin Wave ( iii) Wave c should be
relat ed t o Wave a and mat ch t he t arget in
Wave ( iii)
Wave ( iv) should be relat ed t o Wave ( iii)
Wave ( v) should be relat ed t o a rat io
of t he beginning of Wave ( i) t o t he end of
Wave ( iii)
Wit hin Wave ( v) Wave c should be relat ed
t o Wave a and mat ch t he t arget in Wave ( v)
When t hese are applied t o t he harmonic
wave st ruct ure it can become a t hing of
beaut y
Let me fnish this brief explanation with
an example of how Elliot t s st ruct ure can
mislead. See Figure 5.
A decline in t he 10- minut e GBPUSD
market
The chart s bot h display a decline in t he
hourly GBPUSD market . The upper chart
has been labeled wit h what is a logical
wave count under Elliot t s descript ion of t he
wave st ruct ure. This appears t o decline in
Figure 4
a complex fve-wave move in which Wave
( 3) has a double ext ension. Apart from t he
correct ion in Wave ( 2) all t he swing highs
and swing lows are declining confrming
a bearish move. This decline followed a
previous move lower and t herefore t he
implication is for another fve-wave decline.
The decline in Wave ( 1) does follow
Elliotts structure of fve waves with Wave
3 being t he longest and providing t he main
t hrust of t he decline. The correct ion in Wave
( 2) appears normal and t his is followed by a
Wave ( 3) which has ext ended t wice. Wave
-2- is an expanded fat with the rest of the
decline developing normally.
The problems I habit ually encount ered
wit h Elliot t s st ruct ural development were
t wofold. First ly t hese ext ended waves
frequent ly lacked any consist ent wave
relat ionships and t his generat ed t he second
problem of being able t o forecast where
price should st all.
The lower chart labels t his complet ely
different ly as a t hree- wave decline. There will
be many Elliot t Wave pract it ioners t hat will
quest ion t his but t he evidence for t he count
come t hrough t he wave relat ionships which
in t his case provide except ionally accurat e
rat ios t hat provided me wit h a much easier
call for a reversal higher.
See Figure 6 and 7.
The t able t o t he left displays t he wave
relat ionships implied by Elliot t s original wave
st ruct ure. As can be seen t here is a mixt ure
of wave relat ionships. While t here are some
t hat have t he normal wave relat ionships I
look for, wit hin a reasonable deviat ion, I have
highlight ed t hose which really would have
Figure 5
posed serious issues in forecast ing. I ndeed,
t here would be no real way t o accurat ely
ant icipat e t he end of t he waves.
I t was t his t ype of imprecision t hat I
found diffcult to accept. On many occasions
t he failure t o be able t o ident ify t urns wit hin
a reasonable margin saw reversals much
earlier and left me in no- mans land wondering
whet her a correct ion was being seen and not
a reversal. Ant icipat ing ext ended waves and
where each Wave 1 would st all was a hit -
or- miss affair and t hen everyt hing became
much more problemat ic.
The t able below displays t he relat ionships
in t he harmonic wave st ruct ure. The clarit y
of t he wave relat ionships st and out from t he
frst fve-wave decline in Wave (A). Every
single relat ionship is common for it s own
posit ion, t he 198. 4% proj ect ion in Wave
( iii) , t he 33. 3% ret racement in Wave ( iv)
and t he 76. 4% proj ect ion in Wave ( v) . The
maximum variance was j ust 3 point s.
The correct ion in Wave ( B) developed
as an expanded fat with the pullback being
exact ly 61. 8%. These common relat ionships
cont inued t hroughout t he ent ire decline
even t o t he end where t he ext ension in Wave
( v) of Wave ( C) was only 4 point s while t he
proj ect ion in Wave ( C) was 1 point away
from t he exact 161. 8% proj ect ion of Wave
( A) .
From t hat 1. 5503 low price raced higher
in apparent defance of Elliotts structure.
However, it was an easy call for me t o make
THE HARMONI C WAVE
STRUCTURE I N OTHER
MARKETS
So far I have given examples in t he Forex
market in which I have worked for most of
my 28 years in market s. I had always found
forecast ing ot her market s a lot t ougher.
However, t he harmonic wave st ruct ure has
changed t his and provides furt her evidence
that it refects the correct impulsive structure
t hrough all market s. I have made accurat e
forecast s in equit y market s and gold t o
confrm that the harmonic wave structure is
applicable t o all market s and t imeframes.
CONCLUSI ON
I have been able only t o include a limit ed
number of examples in t his art icle but I
hope suffcient to provide solid evidence
Elliot t s original st ruct ure Figure 6 Harmonic wave st ruct ure Figure 7
t hat R. N. Elliot t did unfort unat ely make
a misj udgment in t he impulsive wave
st ruct ure, but an underst andable one
given t he limit ed resources in being able t o
t horoughly research all wave relat ionships
wit hout ext ensive manual calculat ions.
However, I should add t hat t he harmonic
wave st ruct ure is not a holy grail and t here
is always a st rong element of subj ect ivit y
which can occur, specifcally when Waves
(i) and (ii) are diffcult to identify with any
cert aint y. However, t he requirement for wave
relat ionships reduces t he level of subj ect ivit y
compared t o t he original st ruct ure.
I provide more det ailed explanat ions on
t he various implicat ions of t he harmonic
wave st ruct ure in my book and a great er
number of examples.
There is no doubt in my mind what soever
t hat t he harmonic wave st ruct ure provides
a st ronger framework on wave recognit ion
and improves t he abilit y t o forecast by a
very signifcant degree.
I an Copsey
www. harmonic- ewave. com
Ian Copsey is a veteran technician having
begun his career in Foreign Exchange over
28 years ago. He provides his harmonic
daily forecasting report on the Forex
market through www.harmonic-ewave.com.
His book Integrated Technical Analysis
has been read by over 4,000 readers
worldwide. His experience ranges from
working in Barclays Banks trading rooms
in London and Hong Kong, acting as a
technical analysis specialist for Dow Jones
Telerate in Tokyo where he provided
seminars for bank traders and later as the
regional manager for technical analysis
products in Asia Pacifc. He is also an
experienced speaker at seminars. He has
lived in Asia for over 22 years in Hong
Kong, Singapore and Tokyo where he now
lives with his Japanese wife.
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Gann and Mur r ey sea
12.50% Rul e: 1942 and
1992
Gann and Murrey see 12. 50% Move
Rule:
Gann 1942 t hen Murrey 1992
1992: Murrey sees 12.50% Rule: +
12. 50% = 14. 0625% Rule
12.50: = 1/8
t h
( of ) 1/ 8
t h
= 1.40625:
14.0625: 140.625: 1,406.25: 140,625
14, 062. 50
Music City Money Maker: Murrey Math:
creat ed 1992 Oct 09 Nashville 37215
Perfect Pit ch Harmony loses 1/ 8
t h

( of ) 1/ 8
t h
= 1/ 64
t h
3. 125 minut es ( aft er)
Tuned
Dow 30 I ndex 1/ 64
t h
= 156. 25 exact
Murrey Mat h Spread for ( int raday) t rading
1.5625: 156.25: 1,562.50 by 3/8
t h
=
37. 50% = 4, 687. 50 x 3 = 14, 062. 50
1/ 64
t h
= 1.5625: 15.625: 156.25:
1,562.50: 15,625: 156,250
1.5625 x 3 = 4.6875: 46.875: 468.75:
4, 687. 50
1.5625 x 9 = 14.0625: 140.625:
1,406.25: 14,062.50

12, 500 by 1/ 8
t h
= 1, 562. 50 x 3 ( 3/ 8
t h
)
= 4, 687. 50 Run x 3 = 14, 062. 50
1, 250 by 1/ 8
t h
= 156.25 Yrs = Mayan:
El Nino Time x 3 = 468. 75 Yr Cycle
T. Henning Murrey creat ed 1992 93
t he worlds ( only) 100% Harmonic 17
Oct aves Trading Plat form where all market s
want to run to 37.50% or 62.50% exact:
starting with Murreys Binary Algorithm:
MBA: .00152587890625 doubled out 17,
18 or 19 t imes will give you every ( exact )
fut ure reverse for any and all market s set
t o Base Ten.
I f you believe all market reverses t o be
random, you cant imagine one number
will present you wit h every ( exact ) fut ure
price off M$pie = 3. 125.
Wall St reet Expert s and local
experts are (not) allowed to tell you:
t here are no random market reverses
when you set all markets to: MMTS
1900 Oct ( 09 t o 11) S&P 100
I ndex at 140. 625 + 703. 125
= 843. 75 highs 03. 24. 2000
1990 Oct 09 Gold at 250. 00 + 1, 000 =
1, 250 + 1/ 8t h = 156. 25 = 1, 406. 25
1990 Oct 09 Crude Oil at
40. 625 + 100 = 140. 625
1990 Oct 09 Dow 30 I ndex at 2, 500 + 10, 000
+ 1, 562. 50 = 14, 062. 50 on Oct 09 2007
1990 Oct 09 US 30 Yr Bond
All Time Highs at 140. 625
1990 Oct 09 BRK. A All
Time Highs at 140, 625. 00
1990 Oct 09 S&P 500 I ndex at 312. 50 x
5 = 1, 562. 50 on 17 Yr. Cycle 2007 Oct 09
Time: 17 Yr Murrey Math Cycle: Start
The Mur r ey Mat h Tr adi ng Fr ame soft ware program will
aut omat ically decide for you if a market is Over Bought or
Over Sold, and aut omat ically display t he Trading St rat egy
whenever t he Daily Price Act ion
The MurreyMath Trading Frame Software gives:
EOD Mur r ey Mat h Sof t w ar e $1000
RT Mur r ey Mat h Sof t w ar e $2750
60- Day Tr i al of Pr ogr am $250
Mur r ey Mat h Tr adi ng Book $78
Mur r ey Mat h Lear ni ng CD $150
MURREY MATH SUPPLI ES
All Gann Lines (8/8ths)
All Vertical Time Lines
All Squares in Time
Entry Price Points
Overbought/Oversold
Set 5 Circles of Confict
Parallel Momentum Lines
Set Speed Angles (7)
Set Learning Mode Data
Present Best Entry Price
Present Daily Volume differential
Sell 50% of Position Price Points
Ful l Sof t w ar e Pack age $1000.00
End-of-Day version includes: One Set of Software, Murrey Math
Book, CD Learning Lessons & EMail Updat es
Cal l 800- 288- 4266, or 417- 886- 5180
w w w .t r ader sw or l d.com
1854 Oct 09: Nashville
Price: M$pie = 3.125 produces all 17
or ( 17 x 17) 289 I nt ernal t rading Oct aves
known
Since 1992 1993 and back t est ed
to Crash (of) Oct 1987: Crash Oct 1929:
Oct 2007
Mayan 52 Yr Cycle: 3/8
t h
run 52 x 3 =
156: x 3 = 468 Yr Cycle*
Mayan 520 Yr. Cycle: 52 x 10 = 520 +
1492 Oct 09 Columbus Day = 2012 End*
1519 AD The Mayan Cult ure ( already)
knew t hey would have t o suffer t hrough
156 x 3 = 468 Yr Cycle ( of ) t ort ure by
Spanish Plague ( of ) Religious I gnorance
when one Spanish Moron Leader burned
10, 000 mat h books ( of ) Mayans in one
days hard work.*
*He said: t he Devil made him do it for
t he prot ect ion of ignorant Christ ians who
hat e mat h and cant memorize Moses 365
Sins ( days) of t he Covenant Year.
Mayan Cult ure 1519 AD predict ed
suffering t akeover 1562 AD t o end Aug
17 1987*
1987 Crash Aug 24 USA St ock Market
by way of World Currency Crash
1519 + 468 Suffering Cycle = 1987
Aug 17
t h
World Currency Crash*
Aug 17 1987 Negat ive Cycle t o Aug 17
1992 + Cycle and Dow 30 I ndex moves up
+ 300%*
5 Yr Cycle
2001 Aug 16 Negative Signal: Twin
Towers: World Turmoil: Sept 11 2001*
2002 Aug 16 Positive Mayan Cycle: USA
stock market moved up + 100%*
5 Yr Cycle: 2007 to 2012 End 26,000
Sun Light ( across) Milky Way ( at ) 180
Degrees
2007 Aug 17 End Cycle Turns Negative:
Dow 30 Index 14,000 (near) 14,062.50*
Mayan Indians set USA Central Time:
at 18 x 19 = 342 ( almost ) ( 7 x 7 x 7)
wheat Stores*
Phi: .618 so we insert 18.618 x 19.618
= 365.24 Yr Year: Wow: 5
t h
Grade Math*
Murreys Birthday: 3.125 Yr Cycle
Oct 09 1997 S&P 100 I ndex at 468. 75
= 843. 75 + 3/ 8
t h
( 125 x 3) = 843. 75
468. 75 + 2/ 8
t h
( 125 x 2) = 718. 75 +
15. 625 ( 1/ 64
t h
) = 734. 375 price on 2007
Oct 11
Oct 25 1997 lows at 406.25: to 843.75
= 437. 50 = Perfect Pit ch
Oct 25 1997 lows at 406. 25 t o 734. 375
on Oct 09 t o 11 2007 = 250 ( 2/ 8
t h
) =
656. 25
+ Note: 62.50 = 718.75 + 1/8
t h
Not e
15. 625 = 734. 375
Murreys Birthday 5 Yr Cycle: 2002 to
2007
End Y2K Bear Market Crash ( off )
140.625: 1 PE Ratio = Losers
End on Oct 09 2002: S&P 100 at
390. 625 ( up) t o 2007 Oct ( 09 t o 11)
390. 625 t o 734. 375 = + 2/ 8
t h
( 125 x
2) = 250 + 390.625 = 640.625 + Note:
62.50 = 703.125: + Note: 31.25 =
734. 375 Close 2007 Oct ( 09 t o 11)
390. 625 + ( 7 x 7 x 7) = 343. 75 =
734. 375
This is a very long art icle and is cont inued
on the web at:
www. t radersworld. com/ murrey48. pdf
What Real l y Mat t er s Most
About Mar k et s?
What do you t hink REALLY mat t ers
most about market s? . . . . . . . . . . . . . . . . . . . . . .

PRI CE!
Most t raders focus on TI ME. Guess
what ? Albert Einst ein point ed out t hat
t ime is j ust an illusion and t hat everyt hing
is happening simult aneously ( and t his is
what quant um physicist s also t ell us) .
Time is an illusion. . price is everyt hing!
However, Einst ein also st at ed t hat
price is a funct ion of t ime in his met hod
of predict ing price movement ! Yes, he did
discover t his and very few t raders know
t his. For more informat ion see my book
The Art of The Trade I Cracking t he Code
and Unlocking the Secrets to Trend/Proft
on page 24 and page 67.
Which would you rather know: the
exact price of t he high/ low or t he exact
t ime ( day) of t he high/ low?
Price is EVERYTHING because
everyt hing is cont ained wit hin t he price. All
fundament al news and t housands of pages
of report s, all greed, all fear, all knowledge
is cont ained wit hin t he price for t hat
market . Price is everyt hing and price is
realit y.
Think of a price chart as a puzzle wit h
a million pieces. Eight y percent of t hat
puzzle is already put t oget her for you and
is right before your eyes in t he form of a
daily bar chart . What does t he ot her 20%
of t hat puzzle look like?
One of t he key principles of t rading
success is what is called t he 80/ 20 Rule/
Principle.
On page 23 Chapt er Two of my book
The Art of The Trade I ( Cracking The Code
& Unlocking the Secrets to Trend/Proft) I
t alk about four( 4) Key Principles. One of
t hose Key principles is t he rule of 80/ 20
discovered by Vilfredo Pareto in 1897. The
rule of 80/ 20 simply st at es t hat 20% of
your effort creat es 80% of your result s.
I n my NEW book The Art of The Trade
II (The Art & Science of Trading Profts) I
discuss t his 80/ 20 rule and how it applies
t o t rading. I st at e t hat not only does 80/ 20
mean 20% of your effort creat es 80% of
your result s but also bot h in Time, Energy,
and Money!
I illust rat e t his 80/ 20 principle as
applied to trading as follows:
Suppose you have $1, 000 t o t rade wit h.
By Jef f Ri ck er son
How would you t rade t hat $1, 000. 00? Let s
t heorize t wo t rades. Here are t he result s
of your two theoretical trades:
Trade #1: $800.00 proft / $200.00
invest ment = 400% ret urn
Trade #2: $200 proft / $800.00
invest ment = 25% ret urn
The 80/ 20 Rule as applied t o t rading is
very profound. For every dollar invest ed in
Trade #1 would yield 16 times more proft
t han t he same dollar invest ed in Trade
# 2! ( 400 / 25 = 16) . Trade # 1 was highly
leveraged. Trade # 2 was low leveraged.
Put t ing risk aside for a moment you would
rat her have your money invest ed in Trade
# 1.
The 80/ 20 Rule of t rading also applies
t o maximizing your t ime. Think about it .
Focusing on t he crit ical t rades leverages
your t ime AND money wit h result s 16
t imes FASTER!
All t hat knowledge about t he realit y
of price is displayed each minut e, each
hour, each day in graphic form called a bar
chart . The chart cont ains t he open, high,
low, and close for t hat t ime period. So, if
price is what mat t ers most about market s
t hen what do you t hink mat t ers most about
PRI CE. . . . . . . . .
TREND!
What mat t ers most about price is it s
TREND! Trend is price repet it ion over a
given t ime period ( minut e, hourly, daily,
weekly et c. ) . Trend can be precisely
calculat ed.
I f what mat t ers most about market s is
PRI CE and what mat t ers most about PRI CE
is TREND t hen what mat t ers most about
TREND?. . . . . . . .

SYMMETRY!

SYMMETRY of course! To be more
precise exact price/ t ime squared which
leads t o perfect t rend symmet ry. Trend
symmet ry is a price/ t rend t hat is repeat ing
in exact price/time fow within an exact
price and t ime pat t ern t hat is as equalized
as possible. I t would be like t he market
looking into a mirror refecting itself back
onto itself in a never-ending fow of price
and t ime. More about t his in a moment in
relat ion t o price/ t ime squared.
Ok, so if what mat t ers most about
market s is PRI CE and what mat t ers most
about price is TREND and what mat t ers most
about t rend is SYMMETRY what mat t ers
most about market symmet ry?. . . . . .

VELOCITY!

It is of course VELOCITY of the price/
t rend.
Velocity of a trend is related to the
direct ional price movement and velocit y is
equal to price divided by time. Velocity of
t rend increases when price is accelerat ing
fast er t han t ime ( large range price
movements). Velocity is decreasing when
t ime is increasing fast er t han price ( small
range price movement s) .
Price Flows in direct ion, durat ion, and
amplit ude as t he square root of t ime wit h
t he open, high, low and close chart ed in
exact proport ion t o each ot her relat ive t o
space and t ime in perfect symmet ry!

Wit h t he above we can hypot hesize t he
following:

( 1) I f price and t ime are EQUALI ZED
and .
( 2) There is SYMMETRY bet ween price
and t ime and.
( 3) Price and Time are SQUARED
creat ing symmet ry which
Creat es maximum buying/ selling
pressure wit hin a
small space of price/ t ime t hen.

(1) + (2) + (3) = High Price Velocity =
Trend = PROFI T!
As price approaches and ent ers t his
point of singularit y price, t ime, velocit y,
volat ilit y, and volume become compressed.
When t he market / price moves out of t his
compressed point of singularit y price,
t ime, volume, volat ilit y, and velocit y
expand rapidly.
There is a law in physics which says t hat
wat er will reach it s own level by it s own
weight . There is a corresponding law of
market price act ion which st at es t hat price
( t icks; smallest unit s of price movement )
will reach it s own level by it s own buying/
selling pressure.
According t o t he laws of physics,
when enough elect rons line up wit hin an
at om t o form a posit ion, t hen all t he rest
aut omat ically line up in a similar fashion.
I n physics t his is called Phase Transit ion.
A similar sit uat ion happens in market s
when t he smallest unit of price ( t icks)
form a clust er and when enough of t hese
price t icks line up ( in t ime) t hen a t ipping
point or crit ical mass occurs and a phase
t ransit ion ( change in t rend) will occur.
This Point of Singularit y ( as described
in my book The Art of The Trade I ( Cracking
The Code & Unlocking t he Secret s of
Trend/Proft) page 70 is the holy of holies
as far as t rading is concerned. The Point
of Singularit y is t he Alpha/ Omega point in
a market , or t he end of one t rend and t he
beginning of a new t rend.
I have been searching for t his since
1982 and in great det ail since 1998 and
NOW I have discovered t he mechanism
t hat causes t his effect ( you cannot have
an effect wit hout a cause! ) . I T I s t he
MAGI C ( Price) TI CK. The MAGI C ( Price)
TI CK operat es on a Quant um physics
propert y called Ent anglement where
one t iny packet of energy ( in t he case of
trading a cluster of price ticks) infuences
anot her. How t his relat es t o t rading is t he
MAGIC (Price) TICK will infuence the next
t ick unt il you hit t he t ipping point ( price
clust ers t hat equal t hose t iny packet s of
energy) and a maj or reversal in price will
occur. This is a remarkable discovery about
t he market s.
These principles combined make
up what I call t he Market Synt ax Code
( a Triangulat ion of price, t ime, and
symmet ry) .
The most import ant t hing about
MARKETS is PRI CE.
The most import ant t hing about
TRADI NG is PROFI T.
So, how do you MONETI ZE PRI CE int o
PROFI T?

Proper alignment of price and t ime wit h
Symmetry in conjunction with Velocity.
For more informat ion please read my
two books: The Art of The Trade I (Cracking
The Code & Unlocking t he Secret s t o Trend/
Proft) click here and The Art of The Trade
II (The Art & Science of Trading Profts)
click here
W
. D. Gann in 1948 chart ed t he May
1949 Soybean cont ract in t he chart
at t he bot t om of t his page. This chart is
one of Ganns most
famous chart s. I t is on
t he int ernet on dozens
of sit es and is one of t he
most t alked about chart s
from t his legendary
t rader. Perhaps why t his
chart is t alked about so
much is t he fact t hat
t here are some planet ary longit ude lines
plot t ed on t his chart .
The quest ion t hat I have and many ask,
did Gann really use ast rology t o t rade t he
market s? Some say he did and even t hat
he hired expert ast rologers t o help him in
t his area. Even in Ganns reading list of
books, t here were many ast rology books
recommended.
I n Ganns t ime, ast rology was not
ment ioned by professional t raders, as it
was considered almost wit chcraft . So it is
underst andable t hat Gann did not writ e
about it in any of his courses, however, in
some of t he personal t rading let t ers t o of
his cust omers t here were many comment s
about ast rology.
This second chart wit h t he highlight ed
blue, green and red lines is from t he
new book The Law of Cause and Effect:
Creat ing a Planet ary Price-Time Map
of Market Act ion, by I t alian market
researcher and t rader Daniele Prandelli. I n
his book Parandelli unravels t he myst ery
of how t o use t hese
planet ary lines on
chart s.
There have been
many t raders who
have experiment ed
wit h using planet ary
lines and in fact
several programs
now available t hat
use t hese lines.
The Gann Trader by
Pet er Pich and t he
Market Analyst by
Mathew Verdouw
are t he t wo most
popular programs.
Very few have been
The Law of Cause and Ef f ect :
Cr eat i ng a Pl anet ar y Pr i ce- Ti me
Map of Mar k et Act i on
Book Rev i ew by Lar r y Jacobs
W. D. Gann
int ermediat e and even long t erm t rading.
The aut hor also present s a number of
new cyclic t rading t ools t o help t raders pin
point t iming along wit h t hese planet ary
lines. They give t he t rader a high probabilit y
correlat ion of price and t ime and when
t o t ake act ion on ent ries and exit s of t he
market .
The book is recommended t o t hose
t raders and researchers who are int erest ed
in fnding out what is really about behind
t hose myst erious planet ary lines Gann used
on his chart and how t hey can be applied
to todays markets. As an added beneft
purchases of t he book will be grant ed
access t o an online research and educat ion
forum providing direct int eract ion wit h
Prandelli. They can act ually exchange
chart s, ask quest ions and get guidance
direct ly from Prandelli.
For more information go to:
http://www.sacredscience.com/Prandelli/
LawOfCauseAndEffect.htm
able t o document any successful use of
t hese planet ary lines.
Now for the frst time Prandelli has
int roduced t he proper conversion fact ors
t hat he felt W. D. Gann used in his t rading.
Wit h t he unveiling of t his informat ion
t he aut hor gives t raders t he price- t ime
proj ect ions t hat t hey can use t o plot on t he
available t rading programs j ust ment ioned.
Traders can now have a funct ional t ool for
ent ry point s, proj ect ions and exit point s.
Using t hese planet ary met hods t he aut hor
believes t hat it is no longer necessary
t o use and be overwhelmed wit h t he
indecipherable and inconsist ent ot her
comput er oscillat or t ools t hat t raders
have at t empt ed t o use over t he last few
years such as st ochast ics, RSI , CCI , et c.
As you have probably found out comput er
oscillat ors are aft er t he fact t ools and don t
really help t raders t o successfully t rade t he
market s and may even hinder t hem. The
aut hor believes t hat planet ary proj ect ion
lines, on t he ot her hand, offer t he t rader
before t he event t ools t o t rade wit h.
I n his
book Prandelli
illust rat ed how
he uses planet ary
lines wit h over
160 chart s and
diagrams. Most
of t he chart s are
on t he S&P 500
index. He also t ells
t he reader how
t o use planet ary
lines on ot her
t imes frames. So
planet ary t iming
can be used for
d a y - t r a d i n g ,
H
. M. Gart ley was a t echnical analyst
who published his book Profts
in t he St ock Market in 1935. He
is best known for his Gart ley Pat t erns in
t he market s. Ross Beck is t he aut hor of
t he new book Gart ley Pat t erns. He is
t he recognized aut horit y on t he subj ect of
Gart ley Pat t erns.
I n t his book Mr.
Beck explains
how t o ut ilize
t he met hods of
H. M. Gart ley
t o capt ure t he
maximum profts
in the fnancial
market s.
The book
is divided int o
t hree part s
1) The frst part examines how to
identify and proft from the pattern
format ions in t he market s.
2) The second part explains t he how
t he Gart ley pat t erns are much superior
t o classical chart pat t erns and even Elliot t
Wave Theory.
3) The t hird part shows how t o apply
Gartley pattern flters to improve the
proftability in entry and exit points.
Mr. Beck basically describes how t o set up
your chart s so t o make sure t he basics
are covered. He explains t he different
t ypes of chart s, comput er oscillat ors and
indicat ors and where t o get your dat a. He
clearly explains exact ly how Gart ley and
Elliot t Wave are relat ed. How t he AB = CD
label and t he Elliot t Wave ABC correct ion
are basically t he same t hing and how t o
use t he Quadrilat eral t o calculat e price
ext ensions.
He also explains why t he Gart ley
Pat t ern is t he most powerful pat t ern in t he
fnancial market and he convinces you of
t hat . Youll see t he Gart ley pat t erns in your
chart t rading and how easy t hey are t o
recognize. You have act ually been t rading
Gart ley and you did not know it .
I n t he chapt er t it led, The Gart ley Pat t ern
Revealed, t he aut hor goes int o great det ail
wit h many illust rat ions. He feels t hat it is
very import ant t hat t he t rader be pat ient
unt il t he desired move is developed, all
condit ions laid down are present , wat ch for
t he minor react ion, which t est s t he market
and have t he courage t o get out wit h a fair
proft or protect the proft with stops.
I n t he next sect ion t he aut hor compares
t he Gart ley met hods wit h t radit ional
pat t ern met hods such as double bot t oms,
head and shoulders. He explains one of
t he best opport unit ies in t rading wit h
several chart illust rat ions. He det ails t he
exact Fibonacci rat ios t o use in t he Gart ly
pattern and how it fts into the Gann box.
Finanally now t hat you know t he
Gart ley pat t ern he explains ent ry and
exit st rat egies and how t hey depend on
your part icular st yle. He gives several
t ypes of ent ries such as Fibonacci, 1- Bar
Reversal, Candlest ick, and t he Technical
I ndicat or Ent ry met hod. He explains his
exit st rat egies such as t he 3- bar t railing
st op and how t o t rade mult iple cont ract s,
scaling in and out , calculat ing t arget s, et c.
Then he goes int o several case st udies
The Gar t l ey Tr adi ng Met hod
By Ross Beck
t hat explains some of t he st rat egies in t he
book. I n t hese cases he shows examples
of volume, quadrilat eral price ext ensions,
quadrilat eral clust ering, 78. 6 percent Fib
entry method and proft stop levels set,
proft targets, trailing stops. Finally he
discusses t he import ance of t he t rading
plan and how you can st ick t o it .
At t he end of t he book t he aut hor
explains Ganns Myst erious Emblem. Aft er
uses angles, circles, squares and t riangles
relat ing t o Gart ley he felt t hat t he Gann
Emblem ft perfectly into his XABCD Gartley
pat t ern. He explains how t o use t he Gann
Emblem wit h several chart illust rat ions.
Finally he gives you one more flter for
Gart ly Trades, t he Wolfe Wave. I t is used
t o ident ify t he D point of a Gart ley pat t ern.
There are many illust rat ions t o explain t his
pat t ern. For an video display click t his link.
http://www.youtube.com/
watch?v=98CVJQrcH2I
This book is designed and t rader or
researcher int erest ed in geomet ric t rading.
The aut hor does an excellent j ob explaining
t he geomet ry of Gart ley and combine t hat
wit h his complet e t rading st rat egy and a
book writ t en wit h simplicit y and clarit y, and
you have a winning book. So if you want
a complet e package wit h det ails about t he
Gart ley pat t ern t his is t he book for you.
Ross Beck, FCSI can be reached at www.
geomet rict rading. com The Market -Analyst
has a Beck plug- in for many of t he t ool
the author uses in his trading. It includes:
Figure 1 Becks Emblem
TRADERSWORLD.COM Late Fall 2008 / Early Winter 2009 61
6
15
TRADERSWORLD.COM Late Fall 2008 / Early Winter 2009 61
6
15
S
ince early- 2007, I have discussed
t he 17-Year Cycle and it s impact
on everyt hing from eart hquakes &
volcanoes t o st ock market crashes & real
est at e debacles t o currency melt downs &
commodit y cycles. Many of t he proj ect ions
made in 2007 have already reached
fruit ion
The St ock Market did drop 35- - 50% in
1- 2 years ( similar t o what it did 34 years
prior and 34 years before t hat and 34
years before t hat and 34 years before
t hat ) .
Real est at e did t urn out t o be a bubble
t hat is st ill losing air.
17- Year Cycl e & I nt er est Rat es
November 2010 Usher s i n
Maj or Tr ansi t i on Per i od
Commodit ies did see anot her surge
from lat e- 2008/ early- 2009 int o t he
present ( t hough lat e- 2010 int o early- 2011
pinpoint s diverse cycle highs in many of
t hese market s, including Gold & Silver) .
Maj or eart hquakes did st rike t arget ed
areas like Chile and/ or Sout h America
( as t hey did 17 years ago and 17 years
before t hat and 17 years before t hat
and 17 years before t hat all t he way back
t o before t he mid- 1800s) .
However, t here are some market s t hat
have a similar 17-Year Cycle but on a
delayed basis.
I n t hese cases, t he init ial 17-Year Cycle
By Er i c S. Hadi k
chart 1
act ion - like t he st ock market melt down
of 2007- - 2009 - creat es a react ion in
ot her market s, like int erest rat e fut ures.
The plummet ing price of st ocks forces a
mass st ampede - more euphemist ically
recognized as a fight to quality - into
Treasury Bills, Not es & Bonds. The result
is a t ype of mania in t hese market s, which
is often the fnal 10-20% of a much larger
move or t rend.
This manic rally could be the fnal
blow-off or could be the frst major
warning sign of an impending t op. This
is where cycles again come int o play.
A Tr i o of 17- Year Cy cl es
The frst phase of this analysis begins with
- and ends wit h - t he ubiquit ous, 17-Year
Cycle. I n t he case of short - t erm int erest
rat es, t he year 2010 is t he culminat ion of a
t rio of 17-Year Cycles - dat ing back t o 1959
- and was expect ed t o usher in a maj or
bot t om in int erest rat es. See Chart 1
The Fed Funds Rates chart (frst
published in November 2009) highlight s
t he maj or bot t om in 1959, t he subsequent
low in 1976 ( 17 years lat er; t he low t hat
preceded t he 1976- - 1981 mania in act ual
int erest rat es, in response t o a mania
in infation), and an important bottom in
1993 ( 17 & 34 years lat er) .
Each one of t hese proj ect ed a maj or,
17-Year Cycle bot t om for 2010, ideally for
lat e- 2010.
Nar r ow i ng The Focus
Also reinforcing t his focus is t he
corresponding fut ures peak ( int erest
rat e low) in lat e- 1993 - exact ly 17 years
ago. The 4
t h
Quart er of 2010 is exact ly
17 years from one of t he most import ant
peaks in 10-Year Not es & 30-Year Bonds of
t he past 30 years. I n t he case of Not es,
t he 4t h Quart er 1993 peak ushered in t he
largest correct ion of t he past 20 years ( a
peak t hat came 7 years from t he previous
chart 2
one - in 1986 - and a drop in which prices
plummet ed for 13 mont hs) .
A fut ures peak in lat e- 2010 would also
come 7 years from t he previous one ( 2003)
and could set t he st age for a sharp decline
t o follow - perhaps a 13- mont h decline -
beginning in November/ December 2010.
And, it would come at a t ime when an
int erest ing 14- Quart er ( approximat ely 3. 5
year) cycle comes int o play ( t he following
chart is of t he t reasury yields, so t he
t urning point s are t he inverse of what is
t aking place in Bonds & Not es fut ures; all
of t hese chart s represent an ant icipat ed
bot t om in int erest rat es and peak in Bonds
& Not es) . See Chart 2
Nar r ow i ng The Focus A Bi t
Mor e
The most likely t ime for t his expect ed
peak - in Not es & Bonds fut ures - is in
November 2010. That is also when a
very consist ent 26- mont h ( 2 years and 2
mont hs) cycle comes back int o play. This
cycle has governed t he ent ire advance of
t he past decade.
This 26-Month Cycle creat ed lows in
January 2000, March 2002, May 2004,
July 2006 & Oct ober 2008 ( 1 mont h
margin of error) and proj ect s a maj or t op
for Nov ember 2010. This also result ed
in a corresponding 52- mont h low- low-
( high) Cycle Progression - March 2002 low
t o July 2006 low t o a proj ect ed November
2010 high - t hat has been in focus for
t he past 18 mont hs ( t he accompanying
chart is act ually a copy of a chart t hat was
originally included in t he January 2009
INSIIDE Track) . See Chart 3
At t he very least , a peak in November
2010 should hold for 6- 12 mont hs. I t s
validit y - and holding power - will be
strongly infuenced by an important
chart 3
indicat or - t he mont hly t rend pat t ern. The
earliest that this indicator could confrm a
maj or ( 1- 2 year or longer) reversal would
be on January 31, 2011. So, t he act ion of
December & January needs t o corroborat e
t his expect at ion.
But What About QE2 ( and
QE3 QE4) ?
The most frequent quest ion I have
received in recent mont hs - wit h respect
t o t his analysis - is somet hing on t he lines
of How would t his j ive wit h Quant it at ive
Easing? There are mult iple responses
t o t hat quest ion ( alt hough I do not place
primary focus on fundament als and do not
expect t he fundament al rat ionale t o be
obvious at t he point of reversal)
1 - The market s almost always discount
fundament al event s in advance ( oft en
6 mont hs or more before t he fact ) . So,
t he Bonds & Not es fut ures market s should
have already priced in t he lat est round of
quant it at ive easing. By t he t ime t he Fed
announced t his, t he fut ures market s are
already looking ahead and post uring for
what s next ?
2 - Sooner or lat er, t he impact of
commodity price infation is going to take
it s t oll. Commodit ies have been heading
higher for over a decade. Even in t he midst
of collapsing real est at e, employment
rat es, et c., commodit y prices have headed
higher. This means t hat t hey are nearer t o
t he point when and where a parabolic rally
will t ake hold. THAT is when t he Fed and
t he market s will be forced t o sit up and
t ake not ice.
On a 6- 12 mont h basis, commodit ies
are expect ed t o see culminat ing surges in
December and init ial ( 3- 6 mont h) peaks
in January 2011 t he t opic of a separat e
discussion. A new bull market is not likely
t o t ake hold unt il aft er mid- 2011, alt hough
t he int ervening lows are likely before t hen
( some as soon as March 2011) . So, t his
correlat ion bet ween int erest rat es and
price infation will not likely take hold until
chart 4
lat e- 2011 or 2012, when t he next surge in
commodit y prices is more likely.
3 - Dollar weakness is only benefcial
t o a cert ain ext ent . The Dollar s demise
has had some redeeming aspect s but is
ult imat ely a bad t hing. I t has cont ribut ed
to the infationary surge in commodity
prices but has also helped t o support
st ocks. However, all my long- t erm Dollar
cycles point t o 2013 as a moment ous year
t hat could see a decisive change in t he US
Dollar ( and possibly ot her currencies) .
Leading int o t hat year, I expect t o
see anot her Dollar decline - most likely
beginning in July 2011 - t hat could force
t he Fed or Treasury t o ult imat ely defend
t he value of t he Dollar. I nt erest rat es are
one of t he weapons in t he arsenal of Dollar-
defending t act ics. ( On a 6- 12 mont h
basis, t he Dollar was proj ect ed t o drop
int o November 2010 and t hen rebound
int o May/ June 2011. This is st ill t he case,
so do not mix oranges wit h apples - or
longer- t erm analysis wit h int ermediat e
analysis - when assessing t his out look. )
There is actually a lot more to these interest
rate cycles and the outlook for the coming months
and years. My objective for this discussion is
to again highlight the 17-Year Cycle - that has
been the focus of at least 4 or 5 Traders World
articles since mid-2007 (and the focus of dozens
of newsletters and special reports, most of which
can be found on our website - www.insiidetrack.
com) - and to highlight the important transitional
period in November 2010--January 2011.
While the Dollar & Interest Rates were/
are projected to bottom in November, many
other markets are not expected to complete
their 6-12 month trends until January 2011
The Januar y Shi f t !
While November & December are expect ed
t o subt ly usher in t his t ransit ion, January
2011 could provide more obvious ext remes
and reversals. Mult i- year, mult i- mont h &
mult i- week cycles in Gold & Silver peak in
January 2011. A 3- 6 mont h ( pot ent ially a
6- 12 mont h) t op is expect ed at t hat t ime.
St ock I ndex cycles peak in lat e-
December and are expect ed t o usher in an
import ant t op I F t he I ndices have reached
specifc, upside price targets. The January
Cycle - a t echnique t hat helps ident ify
int ra- year ext remes and int ra- year t rends
- will be the ultimate flter for this.
Grains are expect ed t o t op in lat e-
December or early-January & pull back
int o March 2011. This is part of ongoing
proj ect ions for a Maj or bot t om in early-
June 2010 followed by a new, mult i- year
bull market ( see http://www.insiidetrack.
com/ grain_cycles. ht ml for a more det ailed
explanat ion of t he cycles and indicat ors
t hat forecast t his, beginning in lat e- 2009) .
Several commodit ies are ent ering
decisive periods in December & January.
One t hat comes t o mind is Coffee. Coffee
was proj ect ed t o set a maj or low in
early- 2009 and t hen surge int o 2011 ( see
http://www.insiidetrack.com/coffee_cycles.
ht ml for det ails) . I n recent mont hs, it was
expect ed t o rally int o November, set an
int ermediat e peak and pull back, and t hen
surge t o new highs int o lat e- December/
early-January.
Price act ion in early- December is
validat ing t his and Coffee is poised t o
surge int o January 5- - 7, 2011, when a
myriad of short and int ermediat e cycles
come int o play. I t s 2- 3 year ( minimum)
upside t arget - from t he 2009 lows - is at
259. 0/ KC, a level t hat could be t est ed in
December or early-January. However, t he
most synergist ic convergence of cycles
comes int o play in May/ June 2011 and
could have a much great er - and fart her
reaching - impact on t he price of Coffee.
Cocoa is anot her market t hat was
forecast t o bot t om in mid- Sept ember,
set a secondary low during t he week
of November 15- - 19
t h
, and t hen rally
int o January ( possibly February)
2011. The evolving analysis - wit h
corresponding cycles - is available at
http://www.insiidetrack.com/cocoa_cycles.html.
Phase I I
The point of t his is t hat lat e- 2010/
early- 2011 is a moment ous period, when
an import ant shift could t ake place in many
market s. Some of t hese shift s should
only last for 3- 6 mont hs. However, ot hers
- like t hat in int erest rat es - should last for
many years t o come.
See Chart 4
Looking ahead a little farther, June 2011 is
one of the most critical - and potentially decisive
- interest rate cycles of the next 2-3 years. It is
the culmination of many diverse cycles and could
help corroborate the outlook for a new paradigm
in the fnancial markets. The accompanying
chart from August 2010 (also a yield chart that is
the inverse of the Bonds & Notes futures charts)
gives a small taste of the cycles that come into
play at that time. More specifc and detailed
analysis and trading strategies will be available
in our publications. IT
Eric S. Hadik is President of INSIIDE Track
Trading and can be e-mailed at INSIIDE@
aol.com. Their website is at www.
insiidetrack.com.
I t is t he desire of Traders World Magazine t hat t he
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We need f r om y ou t o do t he r epor t :
( 1) birt hdat e, ( 2) t ime of birt h, ( 3) I f you dont
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Sync Your sel f
i nt o t he Mar k et
T
o be a successful t rader you need t o
sync yourself int o t he market . What
t hat means is you need t o do t he
necessary research before you t rade. How
does t his work. First go back on t he long
t erm mont hly and weekly chart s. Get t he
big pict ure. Then go down t o t he daily and
int ra chart s t o get t he near- t erm pict ure.
Never go against t he long t erm chart s
using t he short t erm chart s.
Mast er Traders of t he past did not have
comput ers. They had t o plot chart s out on
chart paper by hand. This act ually gave
t hem an advant age. They could see t he
big pict ure and t he near t erm pict ure all
at t he same t ime. W. D. Gann used chart s
t hat were act ually on a roll. They were 30
inches t all and cont inuously on a roll. So
he could plot t he long t erm and short t erm
t rend lines all on t he same chart .
Today you can do what t he Mast er
Traders did on t heir long t erm paper chart s
using a mult iple monit or
t rading syst em. I would
recommend using a t hree
monit or horizont al syst em.
This is what I have used for
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wonderful.
What si ze of
moni t or s shoul d y ou
get ?
I would recommend 23 or
24 inch size. I would also
recommend a monit or st and
as you can see above in t his
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Most soft ware like eSignal will expand
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t herefore you can view long t erm chart s
expanded across t hree monit ors. This
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You will also need a mult iple monit or
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go to: www.sonatatradingcomputers.com
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the ebb and fow of the
market s over a longer
t ime such as one year or
more, it is import ant t o
know what t he market has done in t he past .
Cert ain years seem t o follow t he pat t erns of
previous years wit h uncanny likeness. This
is a book put t oget her by Mr. Winkleman
and is a very valuable t ool. This book t ells
a t rader how t o used past harmonic cycles
for forecast ing fut ure t rends. This book
is a pict ure of t he market s since 1920 in
Soybeans. As an added bonus, it has a t rack
record of t he Dow Jones Cash I ndex from
1900 - 2006. Cycles are not hing more t han
repeat ing pat t erns. Trends follow cycles.
This book gives you t he key cycles in t he
market . All you need t o know is what t hose
repeat ing pat t erns are. That is why t he
hist orical chart s become so valuable and
t his is why t his book is so import ant .

Traders World Issue 48

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Traders World Issue 48

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