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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 woke up filled with excitement about the upcoming trading day.
I had a feeling that a huge breakout was going to be seen in the market and I wanted to be sure that I profited from the move.
This type of move only occurs two or three times a month, but the amount of money you can make during these few days can be incredible.
Using the techniques that I will teach in this book, I was able to pinpoint the explosive breakout that occurred on this day before the opening print was even recorded.
How did I do this? By having a keen understanding of market dynamics and pivot point concepts.
Needless to say, the market experienced a major rally on this day, allowing me to capture a healthy five-figure gain in just one session!
The Auction Process
The role of the marketplace is to facilitate trade between buyers and sellers. Price will auction higher and lower as it attempts to find an area where trade can be easily facilitated.
If the price opens too low, it will auction higher to find sellers, and if the price is too high, it will auction lower to find buyers.
If you put this into an easily understood framework, you will come to see that this information makes complete sense.
If an original painting by Pablo Picasso were to be auctioned for a starting bid of $10 on the open market, buyers would enter the market en masse because the price is too low.
Buyers would drive prices higher until the last buyer stood alone, essentially ending the auction with the sale, likely for a price in the tens of millions of dollars.
However, what would happen if I were to auction off a painting by my one-year-old daughter with a starting bid of $1 million dollars?
Obviously, the starting bid is too high; the price would begin to auction lower in search of buyers. Eventually, the price would auction low enough to find a buyer, perhaps her loving grandmother, for a mere $10.
Price continually moves higher and lower in search of the best value for both buyers and sellers.
Buyers will enter the market when they feel the price is below value, while sellers will enter the market when they believe the price is overvalued. This will be a consistent theme over the course of the book.
It boggles my mind how a novice trader can be a smart shopper in the everyday marketplace, but become a completely different person when engaging the stock and futures markets.
The Types of Buyers And Sellers
The role of the marketplace is to facilitate trade between buyers and sellers. However, every buyer is not the same, nor is every seller. There are two types of buyers and two types of sellers.
The ability to distinguish between these categories will allow you to anticipate upcoming price movements and behavior.
That is, understanding whether the price is moving due to a responsive reaction on the part of a buyer or seller, versus price movement caused by initiative participation goes a long way toward 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 Book PDF Free Download