Charles h. Dow
Publications: the stock market barometer, the dow theory
Core ideas:
- three main trends of dow: the market is divided into major trends (long term), secondary regression (medium term adjustment) and daily fluctuations (short term noise)。
- market indicators reflect everything: all known information is reflected in prices and the index is the economic “barometer”。
- trends need to be validated: industrial and rail indices need to be synchronized to confirm the validity of trends (later to the dow jones index)。
- trade flows follow trends: trades in the upward trend are magnified and trades in the downward trend shrink。
- objective analysis: rejecting subjective assumptions and relying solely on price behaviour。
Classic case: during the 2008 financial crisis, the dow jones index dropped the long-term upward trend, confirming the opening of bear city。
2. William d. Gann
Publications: 45 wall street, jiangn stock market course
Core ideas:
- time-to-price balance: market volatility follows geometrical angles (e. G., the jan angle)。
- periodic theory: historical prices repeat over time (e. G., 30, 10-year cycles)。
- the law of volatility: price fluctuations are governed by natural law, such as the fabonacci ratio。
- restraint discipline: transactions need to be strictly structured to stop losses and avoid emotionalization。
- astronomy and mathematics: integration of stars, gas and mathematical models into analysis。
Classic case: jiang was able to predict accurately the collapse of the united states stock in 1929, using angles to judge the top。
3. Jesse livermore
Publications: "shares in memory" "shares in mind"
The core:
- minimum resistance path: prices run in the least resistance direction, trading in a favourable direction。
- critical point breakthrough: to enter when price breaks critical resistance/support, such as the rivermore breakpoint。
- management of funds: a single loss of up to 10 per cent of the total, with the retention of the principal as the first priority。
- market psychology: using mass panic and greed to operate backwards。
- trend tracking: “don't try to capture all fluctuations, do only the most beautiful part of the trend”。
Classic case: in 1907, one million dollars was profited on a one-day basis by making a space-based equity stock, triggering a “livmore panic”。
4. Richard d. Wyckoff
Publications: the wykov control act, acoustic interpretation technology
Core ideas:
- supply-demand relationship-driven prices: main inhaling and distribution phases through trade analysis。
- the “spring effect”: the main force manufactures false breakthroughs (e. G. Rapid rebounds after falling support)。
- following smart money: identify the main forces through price relationships, such as the “hot-to-buy orgasm” and the “end-to-end shock”。
- four stages of the market cycle: accumulation, rise, distribution, decline。
- complex operating methods: batch construction, dynamic adjustment of position。
Classic case: in 2021, in the base form of bitcoin, the vikov “spring effect” foresaw the completion of the main force inhalation。
5. John magee
Publications: technical analysis of stock market trends (with edward)
Core ideas:
- the trend is king: to identify an up/down path, in a consistent fashion。
- support and resistance: price selects direction after repeated testing at key points (e. G., neck line on head shoulder)。
- transaction validation: breakthroughs need to be accompanied by discharges, otherwise they may be false signals。
- classical morphology: definition of more than 20 reverse forms of head shoulder, double bottom, etc。
- stopping losses and gains: breaking the trend line is leaving, retaining profits。
Classic case: 120 per cent increase in apple stock prices after breaking the shoulder bottom neck line in 2020 to validate the form。
6. Wells wilder
Publications: adam theory, new concepts for technology trading systems
Core ideas:
- adam theory: markets are unpredictable, trade in profligacy is the only truth。
- symmetric law: price fluctuations have fractal symmetry, e. G., “scopy effect”。
- rsi indicator: supersale by relative strength and weakness index。
- loss or lifeline: the loss exceeds 2 per cent and leaves immediately。
- the principle of simplisticness: “the more complex the system is, the easier it is to fail, the market is simple in nature”。
Classic case: in the internet bubble in 2000, rsi indicators overtaked the risk of crash。
7. Ralph n. Elliott
Publications: wave principles
Core ideas:
- wave theory: the market operates in a five-wave up + three down eight-wave cycle。
- fibonacci: the rate of return is often 38. 2 per cent, 50 per cent and 61. 8 per cent。
- reciprocal rules: adjacent wave patterns differ from complexity (e. G. Simple and complex)。
- wave level: from the moon to the minute line, grade nine, large cycle embedded small cycle。
- market group psychology: wave patterns reflect a cycle of investor sentiment from optimism to despair。
Classic case: in 2023, after completion of the fifth wave of the standard 500 index, it was consistent with elliott's prediction。
8. George lane
Publications: unpublished, kdj theory is scattered in technical analytical teaching materials
Core ideas:
- random indicator (kdj): supersold areas through k-line, d-line, j-line。
- deviation signals: new prices but not kdj, presage reverses。
- optimization of parameters: the calculation period (e. G., 14 or 21 days) is adjusted to the variety characteristics。
- multi-time-frame validation: dayline and weekline kdj synchronized fork enhancement signal effectiveness。
- short-line tradables: for high-throwing and low-sorting in the shock market。
Classic case: 30 per cent rebounded after kdj detached in 2022。
9. Victor spendeo
Publications: the principles of professional speculation
The core:
- risk return ratio: the profit potential is three times greater than the potential loss to open up。
- trends classification: long-term trends > medium-term trends > short-term fluctuations, with the highest success rates when the three are aligned。
- economic cyclicality: a combination of macro-data such as interest rates, inflation and so on。
- harm strategy: “never let your losses exceed what is affordable”。
- market psychological manipulation: using “fright-solding” in reverse with “grace-buying”。
Classic case: in “black monday” 1987, the risk of collapse was avoided by pre-cut losses。
10. Steve nison
Publications: japanese candle chart technology
Core ideas:
- candle mapping techniques: introduce the k-line of the japanese rice market into western financial markets。
- inverted signals: e. G., the "walled form" of the "swallow line" foreshadows a reversal of the trend。
- multispace game: single k-line reflects the start-take game。
- combination patterns: three crows, activating stars, etc., are effective。
- trends are confirmed: candle forms need to be combined with a mass and an average test。
Classic case: the return of tesla stock prices began in 2024。
Concluding remarks:
The wisdom of the ten giants, whose ideas not only reveal market patterns but also more profoundly interpret the game of humanity and capital, remains the cornerstone of technological analysis. If you master its essence, you can see the future from history
Technological analysis is important in the investment process, but it's also important to see the investor's trade mentality, which is available on my home page. Look:
"the ten great investment trading psychological nutage: from great loss to rich iron law"
