Sperandeo pays close attention to the relationship between short-term and long-term interest rates to predict economic recessions months in advance. 6. Execution: The 4 Rules of Risk Management
The price must cross and close outside of a valid trendline. For a downtrend, draw the trendline from the highest high to the lowest minor high preceding the final low. A break above this line is step one. 2. The Test of the Extreme
Apply these rules to a (like the S&P 500)? Sperandeo pays close attention to the relationship between
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While the original is a masterwork, most serious traders consider Trader Vic II: Principles of Professional Speculation the essential "advanced class." It is written as a direct sequel, building upon the foundation of the first book by providing deeper analytical tools for market forecasting and risk assessment. To get the most out of Sperandeo's work, it is best to read both volumes as a complete educational system. For a downtrend, draw the trendline from the
The price rallies and breaks above the peak created during the initial trendline breakout. Once this resistance level is breached, a new trend is officially confirmed. 3. The 2B Indicator: Trading the Fakeout
The psychological "checklists" needed before hitting the buy button. The Test of the Extreme Apply these rules
Risk Management and Psychology: The "Wall Street Master" Approach
In an , the price makes a new high, pulls back, and rallies to retest that high, failing to exceed it (creating a lower high). Step 3: The Breakout
. Pick 3–5 that address your weaknesses and commit to following them for a month.