The Magic of the Pendulum

Trading is so complex that sometimes even traders who make money don't understand where their edges come from. And they might think it's the Fibonacci line when really it's their, Larry Williams tells the story. He heard that there was this group of old farmers who did very well. They thought the magic was in their pendulum. But really, what it probably was, was a combination of that approach to risk management and also some farmers who probably knew intuitively a thing or two about supply and demand to meet prices.

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