: Draw a line from the highest high to the lowest minor high that immediately precedes the lowest low . Again, it must not cut through any price action between those points. How the 1-2-3 Reversal Method Works Trader Vic-Methods of a Wall Street Master - Amazon.com

Low interest rates and increasing corporate profits drive stock prices higher. : Draw a line from the highest high

If a trading account experiences a drawdown of 10% to 15%, Sperandeo’s protocol dictates scaling back position sizes dramatically or stepping away from the market entirely to regain psychological clarity. 6. Trading Psychology and Emotional Discipline

Unlike pure chartists, Trader Vic heavily integrates macroeconomic principles into his market analysis. He views the Federal Reserve, interest rate cycles, and government fiscal policy as the primary engines driving long-term secular trends. If a trading account experiences a drawdown of

: Weeks to months (the primary focus for professional speculators).