V.16:8 (359-366): Building studies based on psychological matrices by Walter T. Downs

V.16:8 (359-366): Building studies based on psychological matrices by Walter T. Downs
Item# \V16\C08\059TERM.PDF
Availability: In Stock

Product Description

Here’s how the psychological terms that technicians employ to describe the markets are transformed into technical tools.

It is possible to transform psychology from a subjective interpretation into an objective tool. By creating a psychological matrix, we can define emotion so that you never think of fear and greed in quite the same way again. Accurate conceptualization and logical construction of the matrix allows a trader to develop a market edge. In addition, because the trader has a good understanding of each phase of the market as it unfolds, he or she is able to approach trading from a more reasoned perspective. A market edge must be based on the accurate understanding of the difference between statistics and knowledge. Statistics represent numerical data assembled and classified so as to present significant information, while knowledge, for the purposes of the psychological matrix builder, is defined as the ownership of valuable information and the ability to correctly analyze and use it. In this respect, statistics will serve as our mile-stones, and the observation of psychological traits of humans, combined with statistical measurement, will provide the knowledge we need to build a road map of the markets. By observing how people react to market stimuli, a trader gains knowledge to lead and define statistical action. Of key importance is that this is the difference between describing what has occurred on the left side of the chart and accurately assessing what may happen on the right.

*Note: $2.95-$5.95 Articles are in PDF format only. No hard copy of the article(s) will be delivered. During checkout, click the "Download Now" button to immediately receive your article(s) purchase. STOCKS & COMMODITIES magazine is delivered via mail. After paying for your subscription at store.traders.com users can view the S&C Digital Edition in the subscriber's section on Traders.com.

Take Control of Your Trading.
Professional Traders' Starter Kit
All these items shown below only $299.99!
  • 5-year subscription to Technical Analysis of STOCKS & COMMODITIES, The Traders' magazine. (Shipping outside the US is extra. Washington state addresses require sales tax based on your locale.)
  • 5 year access to S&C Archive
  • 5 year access to S&C Digital Edition
  • 5-year subscription to Traders.com Advantage.
  • 5-year subscription to Working Money.
  • Free book selection.
  • Click Here to Order