Go to Jeff Salisbury LWGate Home Page.From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: RE: [CANSLIM] Market Wizards
Date: Wed, 16 Jul 2003 14:02:16 -0600
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All three Market Wizard books are excellent I dont know of a good trader
that doesnt reccomend them. You can get all 3 in paperback for like 15 a
book.
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of France
Sent: Wednesday, July 16, 2003 1:40 PM
To: canslim@lists.xmission.com; canslim@lists.xmission.com
Subject: Re: RE: [CANSLIM] Market Wizards
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.
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<BODY>
<DIV><SPAN class=3D765070120-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2>All=20
three Market Wizard books are excellent I dont know of a good trader =
that doesnt=20
reccomend them. You can get all 3 in paperback for like 15 a =
book. =20
</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of=20
</B>France<BR><B>Sent:</B> Wednesday, July 16, 2003 1:40 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com; =
canslim@lists.xmission.com<BR><B>Subject:</B> Re:=20
RE: [CANSLIM] Market Wizards<BR><BR></FONT></DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial =
color=3D#0000ff=20
size=3D2>David,</FONT></SPAN></DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial =
color=3D#0000ff size=3D2>What=20
is the "Market Wizards" you refer to? Is this a book and if so, could =
you send=20
me a link with more information on it. Has anyone else in the group =
read this=20
book that could offer opinions on its value?</FONT></SPAN></DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial =
color=3D#0000ff=20
size=3D2>Kelly</FONT></SPAN></DIV>
<BLOCKQUOTE>
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B> Dave Stem=20
[mailto:canslimdave2003@yahoo.com]<BR><B>Sent:</B> Wednesday, July =
16, 2003=20
2:18 AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> =
RE:=20
[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=20
care of themselves... which is what the 2% or less risk rule =
allows =20
you to do. In his book, WON talks about how if you are alert, =
you will=20
actually be out of many stocks before the 7-8% loss because you will =
be able=20
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=20
that fell back to the pivot point. I highly recommend the =
interview=20
with him. He talks very specifically about how to trade using=20
CANSLIM. And he won some sort of investing championship 3 =
years in a=20
row... which is not bad. Returns well over 100 percent each=20
year.</DIV>
<DIV> </DIV>
<DIV>Personally, I think if you just buy breakouts and blindly use a =
7-8%=20
stop over the next few years, there is a good chance your portfolio =
will be=20
eaten away... particularly if you are so naive as I was last year... =
to buy=20
many stocks simultaneously without waiting for profits to show up=20
first.</DIV>
<DIV> </DIV>
<DIV>Dave</DIV>
<DIV><BR><BR><B><I>Pritish Shah <pshah@lason.com></I></B> =
wrote:=20
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff =
2px solid; WIDTH: 100%"><BR>I=20
am still learning and the idea of "8% loss in a stock should not =
be=20
greater than 2% of total portfolio" is a great. So at minimum, I =
should=20
not invest more than 1/12th of my total portfolio in any =
individual=20
stock.</BLOCKQUOTE></DIV>
<P>
<HR SIZE=3D1>
Do you Yahoo!?<BR><A=20
=
href=3D"http://pa.yahoo.com/*http://rd.yahoo.com/evt=3D1207/*http://promo=
.yahoo.com/sbc/">SBC=20
Yahoo! DSL</A> - Now only $29.95 per=20
month!</BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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