ZDO
In all honesty I must admit that the journey I took to learn the Taylor Method was an informative and a special journey, I not only made special friends along the way, including Mitsubishi and a few others, but I walked away with a feeling of accomplishment because I was able to master a very complicated method plus learn the secrets of being a discipline trader, even though I did not actually make money form what I learned about the Taylor Method, I believe that the real message that Taylor wanted to pass on to future traders was that it matters not what method you use to trade, the key essential ingredient to becoming a successful trader is to first master the art of being a disciplined trader. With that knowledge, one will be able to view the markets in a different perspective and ultimately you will become a better and more successful trader.
I may never open the Taylor book again, I have since placed it back on the shelf where it was for about 10 years before i even read it. So with that said I would like to take this opportunity to thank and pay tribute to the person that introduced me to the Taylor method, this strange book was given to me by someone whom I have never met or spoken to, his name is Robert T Rogers, on 10/10/2002 after exchanging a few email with Robert he mailed me the Taylor method, it was an original version of the book,he states in a letter to me "I am enclosing the original of taylor's Trading Technique" it came in a green or blue binder with faded pages. The only reason I even decided to read this book was after I discovered this thread back in 2011 on this forum, Traders Laboratory, so it took me some 10 years to open the Taylor book which was sitting on my book shelf since 2002.
It was an amazing and eye opening learning experience with a very deep learning curve that would discourage most traders from going pass the first page, but I did not give up because I believed that there was a message to be learned from studying and comprehending the material. What Taylor teaches and reveals to you is that there is a natural cycle or rhythm within the markets and that this natural cycle is present today as much as it was present during his time back in 1950. This ever present cycle, is not random and it will continue indefinitely into the distant future, governed by the same laws and principles that control nature.
The basis of this cycle is similar to that of the Sine Wave, the market is a rhythmic pulse, or pattern that appears in every market. This is what Taylor teach in his 3 day cycle, Selling Day, Sell Short Day and Buying Day.
Within those 3 days traders go through a Sine Wave period which begins with Optimism as they start buying at the bottom, this leads to a Euphoric stage at the top, which turns into Anxiety not knowing if the market will go higher or lower then Fear develops as the market starts to decline which leads to Desperation as the market crashes, then finally the feeling changes to Hope as the market settles and start to rise and finally the cycle ends back where it started as Optimism sets in as the market starts to rise again.
One last note I never made contact again with Robert T Rogers, I wanted to thank him for sharing this wonderful book with me, all of his contact information have since become obsolete and a letter I mailed him I never received a reply.