Quotes of the Day

There are three general categories of trading styles. Position, or end-of-day, trend trading tends to have the most favorable risk-reward ratio and also takes up the smallest amount of time per day. For swing trading you don't need to be sitting in front of a computer screen but you need to be able to enter orders from a portable electronic device. Day trading takes a high degree of concentration and requires the trader to be sitting in front of the computer; this type of trader has a higher winning percentage but a less favorable risk-reward ratio.  [2010] - Jay Norris

For Week 1, set a "threshold bedtime" and "threshold rise time" that will limit your time in bed (sleep restriction): 1) Pick a rise time that you can maintain 7 days per week; 2) Take your total sleep time in hours (to the nearest half hour). If this number is less than 5.0 hours, then replace it with 5.0; 3) Take your threshold rise time and subtract your total sleep time. E.g. if your threshold rise time is 6:00 am and your total sleep time is 6.0 hours, your threshold bedtime will be midnight. Go to bed only when sleepy and not before your threshold bedtime. Leave the bed if you can't fall asleep or go back to sleep within 10-15 minutes. Return when sleeping. Repeat this step as often as necessary during the night. [2021] - Judith R. Davidson

Depth of Corrective Waves: Corrections, especially when they themselves are fourth waves, tend to register their maximum retracement within the span of travel of the previous fourth wave of one lesser degree, most commonly near the level of its terminus. On occasion, flat corrections or triangles, particularly those following extensions, will barely fail to reach into the fourth wave area. Zigzags, on occasion, will cut deeply and move down into the area of the second wave of lesser degree, although this almost exclusively occurs when the zigzags are themselves second waves. "Double bottoms" are sometimes formed in this manner. [2001] - Robert Prechter

The AUD, CAD, NZD, and CHF all have solid correlations with gold prices. The AUD/USD, NZD/USD, and USD/CHF currency pairs tend to mirror gold’s movements the closest. The Swiss franc is one of the few major currencies that still adheres to the gold standard. A full 25 percent of Switzerland’s bank issue notes are backed in gold reserves. One interesting incentive to go long the AUD/USD instead of gold is the unique ability of expressing the same view but also being able to earn positive carry. [2009] - Kathy Lien

Women everywhere are looking for love. Women signal men awaiting flights in airports, dining in restaurants, shopping in department stores, reading in parks, sitting in theaters, viewing paintings in galleries, and walking their dogs on streets. [2006] - Leil Lowndes