Lesson Three - Trend and Price Swings
Are
you aware that market losses most often occur because people trade against
the trend? The trading public is most often trying to buy bottoms in a
downtrend or sell tops in an uptrend. Professional traders, having paid
dearly for their mistakes, most often trade with the trend.
The trend
is your friend. If it is up, buy the dips, and if it is down sell the
rallies. Great advice, but how do you make it work to your advantage.
You can usually see what the trend was, but how do you know what the trend
is, or more importantly, whether the trend is going to continue - or reverse?
The legendary
W.D. Gann developed his MASTER TREND CALCULATOR, and it is as valuable
and accurate today as it was in his day. It works in all markets, in all
time frames and many of today's trading techniques and systems are based
on it. I call it the pulse of the market, and in this session explain
how to use it and other techniques to
Audio
Commentary
An RealPlayer audio file is attached to each of the following pages. A RealPlayer is required to hear the audio commentary. You can download the RealPlayer for FREE (a new window will open; close it to return to this page). Or if you prefer, just read the written commentary
that appears under the charts (although there is much more information
in the audio than in the text).
To Begin
To
begin, click on the Lesson link that appears below. If you want to bypass
the lesson and go directly to the markets, click on the appropriate link.
Please note that the market analysis was done on 12/7/98 and reflected
Walter's opinion at that time. The purpose of including the market analysis
with the lesson is to show how Walter combines technical and cyclical
analysis with the indicators to trade and forecast the markets. |
