Market Master: Gregory L Morris’s Trading & Investing Advice

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Greg Morris is well known to the public through his best-selling book Candlestick Charting Explained, which was first published in 1995 and is now into its third edition. It is regarded as possibly one of the best books ever written on candlestick analysis. Greg studied the art of candlestick analysis in person while in Japan.

He is currently the chief technical analyst for Stadion Money Management, which manages more than $2 billion in funds. It was Greg who designed and developed the technical rule-based model that is used to oversee management of those funds.

Due to his high profile and success, Greg is a highly sought-after speaker, who has presented to traders throughout North and South America, Europe and China. He has been featured in Business Week, Fox Business, CNBC and Bloomberg TV.

Let’s now hear what Andrea’s one piece of advice is for the aspiring market participants…

”This is the type of question that I could actually answer using only one word – Discipline. Over the past 35 years, I have developed technical analysis software, written articles, two books of technical analysis, created technical indicators and trading systems, and now managing close to $2 billion in assets using a technical rule-based model. Developing a good technical model based upon sound technical principles, accompanied by a robust buy, sell, trade-up rule set is only partially responsible for consistently good money management. None of it will ever work if the user does not have the discipline to follow it.

I have been on a diet most of my adult life. A few months ago, my wife and I were driving in the countryside, and stopped to get fuel for the car. It was an old service station, so I had to go inside to pay for the gas. I bought a candy bar, and was eating it when I returned to the car. My wife, knowing that I should not be eating a candy bar, said, “You just don’t have any discipline.” I said, ”That’s not true, you don’t know how many of these I wanted.” The point is that discipline is not something you can adjust or use partially, you either have it or you do not.

Almost any method of investing or trading will provide the discipline required to be successful, plus it will uncover and organize details about the markets that will help you build a sound set of trading rules. A model will help control impatience.

Discipline help to bridge the gap between analysis and action, which is the stumbling block for many. Sound discipline will help overcome those horrible human emotions of fear, greed and hope. 

Discipline, discipline, discipline.

Greg Morris

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