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More help on the following guidelines please. Seldom take a position in the direction of an immediately proceeding three-day move. Wait for a one-day reversal. Does this mean: if I found a stock that I believe has some trading potential and by the time I noticed the stock it has advanced...

Thanks for the reply. I am not seeking the defined rules at this stage. I am trying to understand the wisdom.

Thanks for your reply. Yes, I know they are guidelines. But some of them I don't understand due to my limited knowledge of the stock market. Can you give me the answer? I guess the ones did not buy quick enough left to buy at greater price.

It makes sense now. Thanks.:)

Hi, I am new to trading and technical analysis. I came across to Donchian's 20 Trading Guides on the internet. Some of the points that I found it is bit hard for me to comprehend (or comprehend correctly) I was hoping anyone can help me to understand these rules better in the real life...