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The Market

A market is simply a place where buyers and sellers gather to trade and exchange goods, buying and selling for any number of reasons. The market performs the essential role of connecting financial and real economies. The New York Stock Exchange and the National Association of Securities Dealers Automated Quotation System (you hear it called NASDAQ on the news) are two markets. There are also futures exchanges like the Chicago Board of Trade or the Chicago Mercantile Exchange. All of these exchanges are markets where trend followers do their buying and selling.

The people that I know who are the most successful at trading are passionate about it. They fulfill what I think is the first requirement: developing intuitions about something they care about deeply, in this case, trading. They are the people who study years of charts, or commodity annuals . . . They develop a deep knowledge of whatever form of analysis they use. Out of that passion and knowledge, their trading ideas, insights, and intuitions emerge.

Charles Faulkner[2]


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