Legendary Trader / Investor :
Inspirational Trading Quote :
- I’ll give you the bottom 10% and top 10% of any move if I get to keep the middle 80%.
My Thoughts :
- As Elliott Wave Technicians, we all know that one of R.N Elliott’s 3 major rules is that Wave 3 cannot be the shortest of the 3 motive waves.
- It is usually the longest and often times prolonged, resulting in an extended Wave 3 scenario.
- That is why many Elliott Wave cum trend traders love to take high probability trades based on the Wave 3 setup.
- And as a rule of thumb, when Wave 3 is extended, then Wave 1 and Wave 5 usually will be similar in size.
- If you are able to put this into the context of what legendary trader Bernard Baruch illustrated in his quote.
- Then, it make complete sense when he refers to his interest only in the middle 80% as the bulk or meat of the trade.
- Hope you have the same “A-Ha” moment when I first read Bernard Baruch’s quote many years ago.
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