AW: [CANSLIM] Performance

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 >>
> >
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