Murphy’s most famous dictum is the identification of trends. He breaks down the market into three distinct phases: He emphasizes the importance of "trading with the trend," famously summarizing the market adage: "The trend is your friend until it bends."
Understanding the trend is crucial. Murphy explains how to identify and trade: Murphy’s most famous dictum is the identification of
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"Still reading that relic?" a younger trader smirked, gesturing to the thick book. "Algorithms do the heavy lifting now, Elias. The market is too fast for manual charting." The market is too fast for manual charting
If you’ve ever Googled "how to read stock charts," you’ve likely stumbled upon one name:
Measures where the closing price settled relative to the price range over a specific period.