He started as a quote boy on the American Stock Exchange (AMEX) and rose to become a Drexel Burnham Lambert director. He survived Black Monday (1987) with profits when the market lost 22% in a day. He famously taught the "Trend is your friend" cliché, but then added the corollary that defines his career: "...until the bend at the end."
If there is one concept from the book that has saved more traders from ruin than any other, it is the "2% Rule." He started as a quote boy on the
Sperandeo stresses: These patterns work best on daily or weekly charts, not intraday noise. not intraday noise.