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Chapter 1: Understanding Market
“Nowhere does history indulge in repetitions so often or souniformly as in Wall Street.”
Jesse Livermore
About a month ago, I got excited about the upcoming trading day.
I had a feeling the market was about to see a big breakout and wanted to make sure I profited from the move.
This type of move only happens two or three times a month, but the amount of money you can make during those few days can be incredible.
Using the techniques I’ll teach in this book, I was able to pinpoint the explosive breakout that occurred even before the initial print was recorded on this day.
how did i do it Having a deep understanding of market dynamics and pivot point concepts.
Needless to say, the market experienced a huge rally on the day, helping me gain a healthy five points in just one session!
bidding process
The role of the market is to facilitate trade between buyers and sellers. The price will auction higher and lower as it attempts to find an area where trading can be easily facilitated.
If the price opens too low, it will auction high to find sellers, and if the price opens too high, it will auction low to find buyers.
If you put it into an easy-to-understand framework, you’ll see that this information makes complete sense.
If an original painting by Pablo Picasso were to be auctioned on the open market for an opening bid of $10, buyers would en masse enter the market because the price is too low.
Buyers will keep the prices high until the last buyer is left, essentially ending the auction with a sale, possibly in the millions of dollars.
However, what if I were to auction off a painting of my one year old daughter with a starting bid of $1 million?
Obviously, the starting bid is too high; Looking for buyers the price will start auctioning low. Eventually, the price would be low enough that a buyer, perhaps his beloved grandmother, could be found for only $10.
The price constantly moves up and down in search of the best price for both buyer and seller.
Buyers will enter the market when they perceive the price is lower than value, while sellers will enter the market when they perceive the price is higher. This will be a consistent theme throughout the book.
It boggles my mind how a novice trader can be a smart buyer in the everyday market, but become a completely different person when engaging in the stock and futures markets.
Types of Buyers and Sellers
The role of the market is to facilitate trade between buyers and sellers. However, not every buyer is the same, nor is every seller the same. There are two types of buyers and two types of sellers.
The ability to differentiate between these ranges will allow you to anticipate upcoming price movements and behavior.
That is, understanding whether the price is moving due to a reactive response on the part of the buyer or seller versus the price movement being caused by initiative participation goes a long way in understanding how the price will react.
Your ability to determine which market participants are influencing price will allow you to judge the conviction and behavior of price movement.
| Author | Franklin O. Ochoa |
| Language | English |
| No. of Pages | 314 |
| PDF Size | 1 MB |
| Category | Stock Market |
| Source/Credits | forex-station.com |
Secrets Of A Pivot Boss PDF Free Download