Go to Jeff Salisbury LWGate Home Page.From: Andreas Himmelreich <judgejimmy@web.de>
Subject: AW: [CANSLIM] Performance
Date: Fri, 14 Dec 2001 12:51:55 +0100
Next Article (by Author): RE: [CANSLIM] Performance John Maycock
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I don't know that saying ;-)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))) (Maybe it comes from Bavaria, I come from Hessen (another state)) - - Paper Trading is not constructive (at least not for me) - - I read about 6 Books (Market Wizzards I + II, Stock Market Wizzards, HTMMIS, Up on Wall Street, The Hedge Fund Edge). Its not the reading, the important stuff you have to know by heart, it needs to sink into your whole philosophy, otherwise you cant perform in the heat ... (I do not know the stuff by heart, I am working on it ...) - - Every System you read about needs to be tuned a little bit so it fits to your personality And --> Thinking is easy, Doing is harder, To do what you think is the hardest (thats a german saying --> Goethe). Andreas (The Germany Boy who loves the United States of America and this message group, THAT IS NOT IRONY NOW !!!) > -----Ursprungliche Nachricht----- > Von: Norman [SMTP:theboyd@tisd.net] > Gesendet am: Friday, December 14, 2001 3:31 AM > An: canslim@lists.xmission.com > Betreff: Re: [CANSLIM] Performance > > OUCH! > I see myself in a few of those 'didn't dos'. > What was that old German saying, "Too late smart, too soon old." (translated of course) > > Norm > ----- Original Message ----- > From: Katherine Malm > To: CANSLIM List Posting > Sent: Thursday, December 13, 2001 12:37 PM > Subject: [CANSLIM] Performance > > > Gary is a regular columnist at RealMoney.com. This week, he did a survey asking respondents what sort of returns they generated during 2001. This column is his response. Can't get any simpler than this-- > > Katherine > > How to Avoid Another Losing Year > By Gary B. Smith > Special to TheStreet.com > > 12/13/2001 08:05 AM EST > URL: http://www.thestreet.com/p/rmoney/techforumrm/10005347.html > > > > If you haven't done so already, please see the poll that appeared in Wednesday's column. If you did read Wednesday's column, you no doubt took the survey, and I thank you. > > Thoughts on it all? To be honest, I was surprised at the results: I thought the overall returns would be a bit higher. Clearly there's some pain out there, as two-thirds of the respondents haven't made a dime this year. And within that, 24% of you are down more than 25% this year. Tough stuff, I know. > > But here's the good news. I'm convinced everyone out there has the ability to be not down, not flat, but up in a year like this. You see, I liken trading/investing (henceforth, just called trading) ability to golf. The average player these days can't break 90. And it's been that way for about the past 20 years or so. Probably longer. > > That doesn't have to be the case because only three things can be stopping you. > > 1.. > You're totally devoid of any ability. Yes, sadly some people have seemingly no motor skills whatsoever. I suppose when it comes to money, some folks pretty much "just don't get it." But I'd have to assume that applies to only the smallest percentage of RealMoney readers. > > 2.. > You have the ability, but you don't practice. Oh, there's a lot of that in golf, and for some reason, these folks are always ahead of me when I'm trying to get around quickly! > > In trading, though, what constitutes practice? I'd throw reading about different methods into that mix. I'd also include a daily examination of your trades and a write-up of where you went wrong and why. Finally, I also think you need to do a ton of paper trading and trading with small lot sizes to see if new methods can be effective. > > As a simple test, ask yourself how many books you read about trading this year. If the answer is fewer than one, you have some work to do. > > 3.. > You practice, but you practice the wrong things. For many of you, this is the nut of the problem. You keep swinging away, but you keep working on things that don't work. Or they work, but you're not flexible enough to include new or different concepts. > > As an example, if you went short this year as easily as you went long, I think you could have fared pretty well. If you don't like shorting, then a variety of good market-timers (Jim Rohrbach, for example) could have told you when to stay in and when to stay out. > > Options may have helped, and let's not forget about technical analysis, even if you're a die-hard fundy. > > I guess my long-winded point is that I feel 99.9% of you have the ability to never have a losing year. Never. The tools are out there, but they require diligence to find and a dedication to implement. But if you're serious about "breaking 90," then you really have no choice. Time to get to work. > << Datei: ATT00001.htm >> << Datei: gbsnew_150x70.gif >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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