AW: [CANSLIM] Performance

From: Andreas Himmelreich <judgejimmy@web.de>
Subject: AW: [CANSLIM] Performance
Date: Fri, 14 Dec 2001 14:17:37 +0100
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Tom,

well, thats also my biggest thing I have to solve ...

See you

Andreas

> -----Ursprungliche Nachricht-----
> Von:	Tom Worley [SMTP:stkguru@netside.net]
> Gesendet am:	Friday, December 14, 2001 1:36 PM
> An:	canslim@lists.xmission.com
> Betreff:	Re: [CANSLIM] Performance
>
> 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?,
>
> Tom Worley
> stkguru@netside.net
> AIM: TexWorley
>
>   ----- Original Message -----
>   From: Andreas Himmelreich
>   To: 'canslim@lists.xmission.com'
>   Sent: Friday, December 14, 2001 6:51 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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