Go to Jeff Salisbury LWGate Home Page.From: Andreas Himmelreich <judgejimmy@web.de>
Subject: AW: [CANSLIM] Performance
Date: Fri, 14 Dec 2001 14:07:47 +0100
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Hi Katherine, well then I am with you and Gary, testing back the stuff is very, very important to see if the system works and to convice your mind (concius and subconcoius) See you Andreas > -----Ursprungliche Nachricht----- > Von: Katherine Malm [SMTP:kmalm@earthlink.net] > Gesendet am: Friday, December 14, 2001 12:47 PM > An: canslim@lists.xmission.com > Betreff: Re: [CANSLIM] Performance > > 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 >> > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -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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