Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Performance
Date: Fri, 14 Dec 2001 07:36:11 -0500
Previous Article (by Subject): RE: [CANSLIM] Performance John Maycock
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This is a multi-part message in MIME format. - ------=_NextPart_000_000F_01C18472.010186E0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Andreas, You hit upon my biggest weakness, and failing, with your quote from = Goethe: "Thinking is easy, Doing is harder, To do what you think is the hardest" My greatest failings come not from what I bought or sold, but rather = from what I didn't act on. In the US brokerage business, we had a saying = that is similar, "A wrong decision is better than no decision". I think I have pretty good gut level decision making, but when I let my = brain get in the way, and seek absolutely perfect proof of what my gut = (and sub conscious decision making) is telling me, I usually end up = doing the wrong thing. Gru=DF, Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message -----=20 From: Andreas Himmelreich=20 To: 'canslim@lists.xmission.com'=20 Sent: Friday, December 14, 2001 6:51 AM Subject: AW: [CANSLIM] Performance I don't know that saying=20 ;-)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))) (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=20 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=20 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."=20 (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=20 survey asking respondents what sort of returns they generated during = 2001.=20 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=20 Wednesday's column. If you did read Wednesday's column, you no doubt = took=20 the survey, and I thank you. > > Thoughts on it all? To be honest, I was surprised at the results: = I=20 thought the overall returns would be a bit higher. Clearly there's = some=20 pain out there, as two-thirds of the respondents haven't made a dime = this=20 year. And within that, 24% of you are down more than 25% this year. = Tough=20 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=20 liken trading/investing (henceforth, just called trading) ability to = golf.=20 The average player these days can't break 90. And it's been that way = for=20 about the past 20 years or so. Probably longer. > > That doesn't have to be the case because only three things can be=20 stopping you. > > 1.. > You're totally devoid of any ability. Yes, sadly some people = have=20 seemingly no motor skills whatsoever. I suppose when it comes to = money,=20 some folks pretty much "just don't get it." But I'd have to assume = that=20 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=20 that in golf, and for some reason, these folks are always ahead of me = when=20 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=20 of your trades and a write-up of where you went wrong and why. = Finally, I=20 also think you need to do a ton of paper trading and trading with = small lot=20 sizes to see if new methods can be effective. > > As a simple test, ask yourself how many books you read about = trading=20 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,=20 this is the nut of the problem. You keep swinging away, but you keep=20 working on things that don't work. Or they work, but you're not = flexible=20 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,=20 then a variety of good market-timers (Jim Rohrbach, for example) could = have=20 told you when to stay in and when to stay out. > > Options may have helped, and let's not forget about technical=20 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=20 ability to never have a losing year. Never. The tools are out there, = but=20 they require diligence to find and a dedication to implement. But if = you're=20 serious about "breaking 90," then you really have no choice. Time to = get to=20 work. > << Datei: ATT00001.htm >> << Datei: gbsnew_150x70.gif >>=20 - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_000F_01C18472.010186E0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META content=3D"text/html; charset=3Diso-8859-1" = http-equiv=3DContent-Type> <META content=3D"MSHTML 5.00.2314.1000" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT size=3D2>Andreas,</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>You hit upon my biggest weakness, and failing, with = your quote=20 from Goethe:</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>"Thinking is easy, Doing is harder, To do what you = think is=20 the hardest"</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>My greatest failings come not from what I bought or = sold, but=20 rather from what I didn't act on. In the US brokerage business, we had a = saying=20 that is similar, "A wrong decision is better than no = decision".</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>I think I have pretty good gut level decision = making, but when=20 I let my brain get in the way, and seek absolutely perfect proof of what = my gut=20 (and sub conscious decision making) is telling me, I usually end up = doing the=20 wrong thing.</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>Gru=DF,</FONT></DIV> <DIV> </DIV> <DIV>Tom Worley<BR><A=20 href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20 TexWorley<BR></DIV> <BLOCKQUOTE=20 style=3D"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: = 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px"> <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV> <DIV=20 style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: = black"><B>From:</B>=20 <A href=3D"mailto:judgejimmy@web.de" title=3Djudgejimmy@web.de>Andreas = Himmelreich</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20 href=3D"mailto:'canslim@lists.xmission.com'"=20 title=3Dcanslim@lists.xmission.com>'canslim@lists.xmission.com'</A> = </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, December 14, 2001 = 6:51=20 AM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> AW: [CANSLIM] = Performance</DIV> <DIV><BR></DIV>I don't know that saying=20 = <BR>;-))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))<BR= >(Maybe=20 it comes from Bavaria, I come from Hessen (another state))<BR><BR>- = Paper=20 Trading is not constructive (at least not for me)<BR>- I read about 6 = Books=20 (Market Wizzards I + II, Stock Market Wizzards, <BR>HTMMIS, Up on Wall = Street,=20 The Hedge Fund Edge).<BR>Its not the reading, the important stuff you = have to=20 know by heart, it <BR>needs to sink into your whole philosophy, = otherwise you=20 cant perform<BR>in the heat ... (I do not know the stuff by heart, I = am=20 working on it ...)<BR>- Every System you read about needs to be tuned = a little=20 bit so it fits to <BR>your personality<BR><BR>And = - --><BR><BR>Thinking is=20 easy, Doing is harder, To do what you think is the hardest <BR>(thats = a german=20 saying --> Goethe).<BR><BR>Andreas<BR>(The Germany Boy who loves = the United=20 States of America and this message <BR>group, THAT IS NOT IRONY NOW=20 !!!)<BR><BR><BR>> -----Ursprungliche Nachricht-----<BR>> Von: = Norman [<A=20 = href=3D"mailto:SMTP:theboyd@tisd.net">SMTP:theboyd@tisd.net</A>]<BR>> = Gesendet am: Friday, December 14, 2001 3:31 AM<BR>> An: <A=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= <BR>>=20 Betreff: Re: [CANSLIM] Performance<BR>><BR>> OUCH!<BR>> I see = myself=20 in a few of those 'didn't dos'.<BR>> What was that old German = saying, "Too=20 late smart, too soon old." <BR>(translated of course)<BR>><BR>>=20 Norm<BR>> ----- Original Message = - -----<BR>> =20 From: Katherine Malm<BR>> To: CANSLIM List=20 Posting<BR>> Sent: Thursday, December 13, 2001 12:37=20 PM<BR>> Subject: [CANSLIM]=20 Performance<BR>><BR>><BR>> Gary is a regular = columnist at=20 RealMoney.com. This week, he did a <BR>survey asking respondents what = sort of=20 returns they generated during 2001. <BR>This column is his response. = Can't get=20 any simpler than this--<BR>><BR>> =20 Katherine<BR>><BR>> How to Avoid Another Losing=20 Year<BR>> By Gary B. Smith<BR>> Special = to=20 TheStreet.com<BR>><BR>> 12/13/2001 08:05 AM=20 EST<BR>> URL: <A=20 = href=3D"http://www.thestreet.com/p/rmoney/techforumrm/10005347.html">http= ://www.thestreet.com/p/rmoney/techforumrm/10005347.html</A><BR>><BR>&g= t;<BR>><BR>> =20 If you haven't done so already, please see the poll that appeared in=20 <BR>Wednesday's column. If you did read Wednesday's column, you no = doubt took=20 <BR>the survey, and I thank you.<BR>><BR>> = Thoughts on=20 it all? To be honest, I was surprised at the results: I <BR>thought = the=20 overall returns would be a bit higher. Clearly there's some <BR>pain = out=20 there, as two-thirds of the respondents haven't made a dime this = <BR>year. And=20 within that, 24% of you are down more than 25% this year. Tough = <BR>stuff, I=20 know.<BR>><BR>> But here's the good news. I'm = convinced=20 everyone out there has the <BR>ability to be not down, not flat, but = up in a=20 year like this. You see, I <BR>liken trading/investing (henceforth, = just=20 called trading) ability to golf. <BR>The average player these days = can't break=20 90. And it's been that way for <BR>about the past 20 years or so. = Probably=20 longer.<BR>><BR>> That doesn't have to be the case = because=20 only three things can be <BR>stopping=20 you.<BR>><BR>> =20 1..<BR>> You're totally devoid of any = ability. Yes,=20 sadly some people have <BR>seemingly no motor skills whatsoever. I = suppose=20 when it comes to money, <BR>some folks pretty much "just don't get = it." But=20 I'd have to assume that <BR>applies to only the smallest percentage of = RealMoney readers.<BR>><BR>> =20 2..<BR>> You have the ability, but you = don't=20 practice. Oh, there's a lot of <BR>that in golf, and for some reason, = these=20 folks are always ahead of me when <BR>I'm trying to get around=20 quickly!<BR>><BR>> In trading, though, = what=20 constitutes practice? I'd throw reading <BR>about different methods = into that=20 mix. I'd also include a daily examination <BR>of your trades and a = write-up of=20 where you went wrong and why. Finally, I <BR>also think you need to do = a ton=20 of paper trading and trading with small lot <BR>sizes to see if new = methods=20 can be effective.<BR>><BR>> As a simple = test,=20 ask yourself how many books you read about trading <BR>this year. If = the=20 answer is fewer than one, you have some work to=20 do.<BR>><BR>> =20 3..<BR>> You practice, but you practice the = wrong=20 things. For many of you, <BR>this is the nut of the problem. You keep = swinging=20 away, but you keep <BR>working on things that don't work. Or they = work, but=20 you're not flexible <BR>enough to include new or different=20 concepts.<BR>><BR>> As an example, if = you went=20 short this year as easily as you went <BR>long, I think you could have = fared=20 pretty well. If you don't like shorting, <BR>then a variety of good=20 market-timers (Jim Rohrbach, for example) could have <BR>told you when = to stay=20 in and when to stay out.<BR>><BR>> = Options may=20 have helped, and let's not forget about technical <BR>analysis, even = if you're=20 a die-hard fundy.<BR>><BR>> I guess my long-winded = point is=20 that I feel 99.9% of you have the <BR>ability to never have a losing = year.=20 Never. The tools are out there, but <BR>they require diligence to find = and a=20 dedication to implement. But if you're <BR>serious about "breaking = 90," then=20 you really have no choice. Time to get to <BR>work.<BR>> = <<=20 Datei: ATT00001.htm >> << Datei: gbsnew_150x70.gif = >>=20 <BR><BR>-<BR>-To subscribe/unsubscribe, email "<A=20 = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In= the=20 email body, write "subscribe canslim" or<BR>-"unsubscribe = canslim". Do=20 not use quotes in your email.<BR></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_000F_01C18472.010186E0-- - - - -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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