Stan Ehrlich is the inventor of the Ehrlich Cycle Finder, a universal technical analysis tool and now the oldest physical technical analysis device in the investment industry worldwide. His experience spans decades of trading and investing at the highest levels. Join Dr. Richard Smith, host of Understanding Investing, as he and Stan discuss the importance of planning, common mistakes beginner investors make and terms such as LYRA-LYPR, SIRABID and swing trading.
“LYLA-LYPR is ‘limit your losses and let your profits run.’ Basically, it’s what everybody should do but most people don’t do. And they usually don’t know how to, or why to, or when to, or what to do.” (03:01) (Stan)
“The point is, you’re not gonna be right all the time. You have to plan for the mistakes. And money management is all about that.” (12:47) (Stan)
“It’s not the tool you use, it’s how you use the tool.” (20:02) (Stan)
“We are human beings and it is our nature to do this [trading and investing]. And this is one of the things that’s crazy about trading in particular, and investing to a degree, it’s counter-intuitive.” (26:54) (Stan)
“What looks good is not and what looks bad is good. Again, trading in particular and investing in general is counter-intuitive.” (31:13) (Stan)
Dr. Richard Smith’s Website – https://richardmsmith.com/
Stan’s LinkedIn – https://www.linkedin.com/in/stan-ehrlich-29403b7/
Foundation For the Study of Cycles - https://cycles.org/
Being Right or Making Money by - Ned Davis
New Concepts in Technical Trading Systems - J. Welles Wilder
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