Go to Jeff Salisbury LWGate Home Page.From: Dave Cameron <dfcameron@yahoo.com>
Subject: Re: [CANSLIM] Book suggestions
Date: Mon, 31 Dec 2001 05:48:54 -0800 (PST)
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Mike, Sorry for the delay here, I'm playing catch-up on e-mails. I too am a statistician. (Master's degree in the field, several years as a practitioner). I've looked at Katz's book; never really pursued trying to translate the concepts to CANSLIM. I've also tried various statistical approaches to stock picking, both inside and outside the CANSLIM arena. I have not been successful. There's an old saying that patterns rarely repeat. I haven't found a sufficient sample size of anything to be successful. Every time I try, either the macro-market is different, the time frames for something to happen changes, the Fed raises rates or lowers them, or something changes the parameters enough to invalidate any model. I'm not trying to discourage you from trying, just warning you that it is very tough. If it weren't, many statisticians would be doing it already, no doubt. Anyway, to your question: "are there any must reads?". I would say no. You can look out there - it's always good to absorb a lot of stuff. But, I feel it is best to develop your own system completely from scratch. If you read any of Schwager's books, he interviews some successful traders who use a programmed system they developed. They all built their own from scratch, and as such, have tested more, and have a higher conviction in it. Regards, Dave Cameron > On 27 Dec 2001 at 11:01, Mike Hofmann wrote: > > Happy holidays CANSLIMmers. I hope everyone is enjoying a safe > and joy-filled holiday season. > > Santa brought me Jeffrey Katz's Encyclopedia of Trading > Strategies. I put this book on my wish list after reading one of > the threads here not too long ago in which Bulkowski's book was > recommended. (When I went to Amazon to look for Bulkowski, I also > came across the Katz book.) Katz's book > focuses on the development of options and futures trading systems. > As a relative novice at this game, I'm wondering if the concepts > and strategies put forth in this book are applicable to stock > trading and more specifically to a CANSLIMish approach. > > I'd also be interested in recommendations for other must-reads in > the area of tech analysis and trading systems. I am a statistician > by trade and thus am not particularly daunted by numbers and such, > but I prefer books on this subject that are reasonably easy to > understand and without too many > Greek letters. > ===== Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Send your FREE holiday greetings online! http://greetings.yahoo.com - - - -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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