Trader Tom DeMark
Often in the biographies of famous traders there is nothing in terms of achievements other than seven-digit profitability figures. Many were simply lucky, others simply knew how to skillfully manage a team and gathered an excellent team around them.
In fact, such traders can get on the list of the richest people and be invited to a couple of television broadcasts, but after finishing their career the world simply forgets about them.
Trader Tom Demark is the most ardent inventor and ardent ideologist of technical analysis.
If we talk about Tom’s achievements, we can safely mention a dozen different trading indicators he created, which are actively used in both the foreign exchange and stock markets. Demark was also able to share his knowledge and skills by writing a wonderful practical book on trading, “ Technical analysis - a new science .”
This book has become a guide for many beginners in mastering short-term and medium-term trading, because it is during these time periods that, according to DeMark, technical analysis is most effective. After that, Tom Demark wrote his name in huge letters in the history of the development of technical analysis, but his life path is as interesting as his successes.
This company specialized in managing pension assets as well as various securities, so Tom was offered a solid position as a fundamental analyst.
Years later, at one of the press conferences, Tom Demark made a reservation that behind the loud title of the position of analyst was the fact that he was at the lowest level of the company’s hierarchy, and he was used and he felt like an errand boy. However, unlike others, he skillfully managed his time, so this allowed him to quickly climb the career ladder. Realizing that he cannot achieve much alone, Thomas Demark begins to gather around himself a number of specialized specialists and forms a strong team.
The end of 1973 and the beginning of 1974 went down in history as one of the most crisis years, because at that time there was a strong decline in the Dow Jones index as well as a reduction in the entire stock market by approximately 50 percent. Actually, in such crisis conditions, almost all companies suffered losses, but not the National Investment Service.
During this period, the company's capitalization increased significantly, namely up to 6 billion. At a time when everyone was losing, Thomas was given carte blanche and his team passed their exam, earning hundreds of millions of dollars for the firm.
The year 1978 was marked as special in the career of Tom DeMark, since under his leadership a consulting department was created, namely a separate structural division of the National Investment Service. This division and Tom at its head were engaged in diversification of assets. After four years of successful work, Thomas Demark decides to leave the company and retains assets worth over 120 billion that he had under management.
The reputation earned in this company, as well as the experience, allowed Tom not only to live comfortably for a long time, but also to earn money through consulting, as well as his own developments.
In 1987, before the stock market crash, Thomas DeMark's indicators were full of signals for investors to sell their holdings, and believe me, there were many who took his advice. After this incident, Thomas became quite a famous figure, and he was also offered the position of vice president in the Tudor Jones company, which he could not refuse.
In his position, Tom continued his research activities, because he was interested in creating a tool that would be a compromise between technical and fundamental analysis. By the way, Thomas Demark believed that fundamental analysis quite effective for long-term trading and investing when technical analysis allows you to choose profitable entry points and is suitable for a medium-term trader.