Trader and analyst Kenneth J. Tower
Today, there are many varieties of technical analysis, ranging from the use of popular reversal patterns and indicators to fractal and volume market analysis.
Numerous books have been written on each type of analysis, but few of them provide practical, rather than superficial, information. Kenneth J.
Tower became world famous for uncovering one of the most complex and unique forms of chart analysis: point and figure. Kenneth J.
Tower has co-authored many books on technical analysis and is a frequent guest on American channels such as CNN, Fox and many others, where he regularly shares market situations and provides his forecasts.
Kenneth J. Tower regularly conducts training seminars around the world, and his students have been able to achieve unprecedented heights after learning tic-tac-toe charts.
Kenneth J. Tower fell in love with the world of stock trading as a child. When Kenneth J. Tower had only finished sixth grade, his parents gave him five shares of a small oil refinery where, according to one bibliographer, his father worked.
The young man monitored his stock price daily, as it sometimes fell and sometimes rose. His parents' gift completely determined his future educational and career path.
After graduating from high school, Tower chose Lehigh University, where he successfully enrolled in the finance department. According to his own memoirs,
Kenneth J. Tower found that attending lectures was often a waste of time, as he felt he was being taught things that had no practical application. Most interestingly, he became a technical trader despite his professor's advice.
So, in one of the lectures, which was devoted to forecasting, the professor placed a huge emphasis on fundamental analysis, and when the chapter of the textbook approached technical analysis, the professor stopped and criticized it as ineffective.
Since Kenneth considered the professor a fool and all his information useless, he made a point of studying the chapter on technical analysis.
Since the future guru was deeply interested in investment activities, he became a member of the Lehigh Investment Club, but eventually left it due to its uselessness.
Trader career
After graduating from university, Kenneth J. Tower joined the firm Delafield, Harvey, Tabell, which was engaged in institutional research of financial markets and the management of investor assets.
Since the firm was very small, many responsibilities fell on the trader's shoulders, ranging from the banal foisting of ideas on clients to in-depth market analysis and personal trading.
At the time of his employment, Kenneth only had the basics of technical analysis, so he was simultaneously taught the strategy used in the firm.
So, his boss Tony Tabell was a hereditary trader, since his father was an active technician in the pit, and his grandfather was also a stock trader.
Knowledge of point-and-figure chart analysis was passed down through generations, so Kenneth simply couldn't help but gain knowledge that was actively put into practice within the company.
Following the sale of the company to US Trust, Tony Tabell was fired and Kenneth J. Tower was appointed as the company's chief technology officer.
However, the new owners were not very fond of it technical analysis, so the firm had to temporarily say goodbye to technical analysis. After Charles Schwab bought out US Trust in 2002, Kenneth J.
Tower joined CyberTrader, taking on the role of chief technical officer. After joining CyberTrader, his name became known worldwide, so he began traveling around the country giving seminars and training new traders.
Kenneth J. Tower believed that stock trading was a common human skill, so anyone could learn to trade the stock market.
He gives the example of learning to drive a car, noting that anyone who wants to can learn to drive, which is actually something that can be done by learning to trade profitably.
Of course, some natural characteristics may allow you to achieve better results than others (for example, a car enthusiast and a race car driver), but overall, although not millions, anyone can make money on the stock exchange!
