Re: [CANSLIM] Performance

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] Performance
Date: Fri, 14 Dec 2001 05:46:55 -0600
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Hi Andreas,

Good points you make. Just a comment on the paper trading. When Gary talks
about this he is talking about testing something that may be an enhancement
or change from your current methods. He wants to be sure it's consistently
profitable to be worth adding to the arsenal. This goes to his philosophy
that you should be stretching and expanding and continuously adding to the
toolbox so that you have methods that fit all market conditions. He believes
that in order to really learn to trade, however, you have to put real money
on the line.

He is also very keen on making sure that what you are learning you are
doing. Execute execute execute. You are so right, reading without gleaning
something of value that can be applied to your trading is worthless.

Katherine


- ----- Original Message -----
From: "Andreas Himmelreich" <judgejimmy@web.de>
To: <canslim@lists.xmission.com>
Sent: Friday, December 14, 2001 5:51 AM
Subject: AW: [CANSLIM] Performance


> 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 >>
>
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