Go to Jeff Salisbury LWGate Home Page.From: Dave Stem <canslimdave2003@yahoo.com>
Subject: RE: [CANSLIM] Market Trend Charts
Date: Wed, 16 Jul 2003 10:07:34 -0700 (PDT)
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- --0-812344871-1058375254=:51992 Content-Type: text/plain; charset=us-ascii The book is "Market Wizards" by Jack Schwager. It consists on in-depth interviews with successful traders. WON is interviewed, but all he really does is regurgitate CANSLIM. David Ryan is a trader who took the CANSLIM principles and talked about how he actually trades using them. Very informative. I also highly recommend the interview with Ed Seykota re: the psychology of trading. Dave Kelly Short <kelly.short@fw.us.neoris.com> wrote: David, What is the "Market Wizards" you refer to? Is this a book and if so, could you send me a link with more information on it. Has anyone else in the group read this book that could offer opinions on its value? Kelly - -----Original Message----- From: Dave Stem [mailto:canslimdave2003@yahoo.com] Sent: Wednesday, July 16, 2003 2:18 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] Market Trend Charts Pritish... A good idea is to focus almost solely on risk and let the profits take care of themselves... which is what the 2% or less risk rule allows you to do. In his book, WON talks about how if you are alert, you will actually be out of many stocks before the 7-8% loss because you will be able to tell when a stock is not acting right. The 7-8% loss is the maximum. It's not a blind rule to follow. David Ryan, in Market Wizards, said he would sell half of any position that fell back to the pivot point. I highly recommend the interview with him. He talks very specifically about how to trade using CANSLIM. And he won some sort of investing championship 3 years in a row... which is not bad. Returns well over 100 percent each year. Personally, I think if you just buy breakouts and blindly use a 7-8% stop over the next few years, there is a good chance your portfolio will be eaten away... particularly if you are so naive as I was last year... to buy many stocks simultaneously without waiting for profits to show up first. Dave Pritish Shah <pshah@lason.com> wrote: I am still learning and the idea of "8% loss in a stock should not be greater than 2% of total portfolio" is a great. So at minimum, I should not invest more than 1/12th of my total portfolio in any individual stock. - --------------------------------- Do you Yahoo!? SBC Yahoo! DSL - Now only $29.95 per month! - --------------------------------- Do you Yahoo!? SBC Yahoo! DSL - Now only $29.95 per month! - --0-812344871-1058375254=:51992 Content-Type: text/html; charset=us-ascii <DIV>The book is "Market Wizards" by Jack Schwager. It consists on in-depth interviews with successful traders. WON is interviewed, but all he really does is regurgitate CANSLIM. David Ryan is a trader who took the CANSLIM principles and talked about how he actually trades using them. Very informative. I also highly recommend the interview with Ed Seykota re: the psychology of trading. </DIV> <DIV> </DIV> <DIV>Dave<BR><BR><B><I>Kelly Short <kelly.short@fw.us.neoris.com></I></B> wrote:</DIV> <DIV> <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%"> <META content="MSHTML 6.00.2800.1106" name=GENERATOR> <DIV><SPAN class=612290816-16072003><FONT face=Arial color=#0000ff size=2>David,</FONT></SPAN></DIV> <DIV><SPAN class=612290816-16072003><FONT face=Arial color=#0000ff size=2></FONT></SPAN> </DIV> <DIV><SPAN class=612290816-16072003><FONT face=Arial color=#0000ff size=2>What is the "Market Wizards" you refer to? Is this a book and if so, could you send me a link with more information on it. Has anyone else in the group read this book that could offer opinions on its value?</FONT></SPAN></DIV> <DIV><SPAN class=612290816-16072003><FONT face=Arial color=#0000ff size=2></FONT></SPAN> </DIV> <DIV><SPAN class=612290816-16072003><FONT face=Arial color=#0000ff size=2>Kelly</FONT></SPAN></DIV> <BLOCKQUOTE> <DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma size=2>-----Original Message-----<BR><B>From:</B> Dave Stem [mailto:canslimdave2003@yahoo.com]<BR><B>Sent:</B> Wednesday, July 16, 2003 2:18 AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM] Market Trend Charts<BR><BR></FONT></DIV> <DIV>Pritish... </DIV> <DIV> </DIV> <DIV>A good idea is to focus almost solely on risk and let the profits take care of themselves... which is what the 2% or less risk rule allows you to do. In his book, WON talks about how if you are alert, you will actually be out of many stocks before the 7-8% loss because you will be able to tell when a stock is not acting right. The 7-8% loss is the maximum. It's not a blind rule to follow. </DIV> <DIV> </DIV> <DIV>David Ryan, in Market Wizards, said he would sell half of any position that fell back to the pivot point. I highly recommend the interview with him. He talks very specifically about how to trade using CANSLIM. And he won some sort of investing championship 3 years in a row... which is not bad. Returns well over 100 percent each year.</DIV> <DIV> </DIV> <DIV>Personally, I think if you just buy breakouts and blindly use a 7-8% stop over the next few years, there is a good chance your portfolio will be eaten away... particularly if you are so naive as I was last year... to buy many stocks simultaneously without waiting for profits to show up first.</DIV> <DIV> </DIV> <DIV>Dave</DIV> <DIV><BR><BR><B><I>Pritish Shah <pshah@lason.com></I></B> wrote: <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%"><BR>I am still learning and the idea of "8% loss in a stock should not be greater than 2% of total portfolio" is a great. So at minimum, I should not invest more than 1/12th of my total portfolio in any individual stock.</BLOCKQUOTE></DIV> <P> <HR SIZE=1> Do you Yahoo!?<BR><A href="http://pa.yahoo.com/*http://rd.yahoo.com/evt=1207/*http://promo.yahoo.com/sbc/">SBC Yahoo! DSL</A> - Now only $29.95 per month!</BLOCKQUOTE></BLOCKQUOTE></DIV><p><hr SIZE=1> Do you Yahoo!?<br> <a href="http://pa.yahoo.com/*http://rd.yahoo.com/evt=1207/*http://promo.yahoo.com/sbc/">SBC Yahoo! DSL</a> - Now only $29.95 per month! - --0-812344871-1058375254=:51992-- - - - -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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