Price attempts to revisit the previous extreme (the high in an uptrend, or the low in a downtrend) but fails, forming a lower high or higher low.
Sperandeo emphasizes that a perfect strategy is worthless without psychological mastery. He openly discusses the mental traps that destroy traders—specifically, the human ego.
Victor Sperandeo's book, Trader Vic: Methods of a Wall Street Master Trader Vic Methods Of A Wall Street Master By Victor
Only after you have built up a sufficient profit cushion can you pursue large, aggressive gains. This does not mean changing your risk/reward criteria; it means increasing your position size using the profits you have already secured. It's about leveraging your success, not chasing it recklessly. In Sperandeo's own words, the only valid question for an investor to ask is, "Have I made money?"
is a definitive guide to market speculation, written by legendary trader Victor Sperandeo. The book synthesizes technical analysis, macroeconomic theory, options trading, and investor psychology into a cohesive, highly profitable framework. Sperandeo famously achieved a 70.7% average annual return over a 12-year period without a single losing year, making his methodologies essential study material for both novice and professional traders. 1. The Core Philosophy: Capital Preservation First Price attempts to revisit the previous extreme (the
: Once capital is secure, the goal is to generate steady returns with controlled risk. Pursuit of Superior Returns
Let me know which of these areas you'd like to . Victor Sperandeo's book, Trader Vic: Methods of a
Sperandeo is adamant:
Trader Vic teaches that technical analysis should be used to time entries, but fundamental analysis should guide the overall direction of the portfolio.