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6% total. If reached, close all positions and stop trading for the rest of the month.

He lists common trading errors:

A variation where price makes a marginal new high (or low) but immediately reverses – often a high-probability reversal setup.

Sperandeo emphasizes that the outcome of a single trade is irrelevant; what matters is the expectancy over a series of trades.

Most traders dismiss Dow Theory as outdated. Sperandeo proves them wrong. He breaks down the original six tenets of Dow Theory and adds his own interpretation.

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