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TODAY IN HISTORY

    TELEPHONE SWITCHBOARD
    January 17, 1882 - Chicago, Illinois, U.S.A.

    A telephone switchboard was issued a U.S. patent to Leroy Firman of Chicago, Illinois (No. 252,576), which was assigned to the Western Electric Manufacturing Co. Also of Chicago. With his invention of a “multiple switchboard for telephone exchanges,” Firman addressed the problem of increasing numbers of subscribers. Previously, single switchboards, each with an attendant, served their group of individual lines. A large exchange was thus divided up into a number of internal exchange switchboards which were worked together as necessary, with trunk lines between the boards. Firman devised an arrangement to handle an exchange of a thousand or more subscribers with line status information exchanged between switchmen.

    PUNCHBOARDS
    January 17, 1905 - Chicago, Illinois, U.S.A.

    The first U.S. patent was issued for a punchboard to Charles A. Brewer and Clinton G. Scannell of Chicago, Illinois, described as “vending devices.” They were manufactured by Charles A. Brewer & Sons in the same city. (No. 780,086). Even though the equivalent of punchboards had been around for many years, they had never been available in such a neat and portable form. The invention of board stuffing machines and ticket folding and plaiting machines in the late 1910s was probably the key factor which allowed the punchboard industry to flourish. Once the boards became cheap to manufacture, they flooded the country. Noted gambling author John Scarne estimates that 30 million punchboards were sold in 1910-15.

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Whipsaws In The Market :

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A whipsaw is a representation of profit-taking going on in the market.

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One of the factors to consider when trading with stop-losses is whipsaws. Whipsaw is the name given to the tiny and regular market movements during trends. For example, when a share is in an overall bull trend, it will periodically turn over and fall in price for a couple of days, before resuming it's general upwards trend. This is a whipsaw. A whipsaw is a representation of profit-taking going on in the market.

People who have made a good profit on the share after it has had a strong rally up are now selling to realise that profit. Their selling pressure temporarily halts the upward bull trend. The market absorbs these sellers with an abundance of buyers and then the share continues its bull run. Whipsaws exist in bear markets too. One of the threats of using stop losses is the risk of being; Whipsawed-out; of the market.

If the whipsaw is greater than your stop loss, then you may end up selling before the share reaches its actual peak. This is just one of the realities of share trading. It will definitely happen to you. It happens to the best of us. All you can do is to develop a series of selling strategies to complement your stop loss. Serious traders have been known to use up to and over 5 different selling indicators on each trade. All indicators must be positive before they will sell the share. Even then, it only improves their trading, it doesn't make it 100% reliable. For most people, though, just using a stop loss will go a long way to improving their trading results.

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  • November 28, 2014Date Added :
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