Go to Jeff Salisbury LWGate Home Page.From: France <pomerleaufrance@sympatico.ca>
Subject: Re: RE: [CANSLIM] Market Wizards
Date: Wed, 16 Jul 2003 16:54:15 -0400
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Kelly,
Regarding the Market Wizards books, I have read all 3 and I consider them my bibles. They are very informative in terms of experience and most importantly from a trader's perspective, not some salesman's (read: broker) or analyst's. I highly recommend them to everybody. The traders' background differ (stocks, commodities, currencies), but they all exhibit similar winning characteristics. That being said, once you're out there doing your thing, the challenge is to adapt what you've learned to your situation, namely, most of us do not trade millions!
Cheers,
France
From: "Kelly Short" <kelly.short@fw.us.neoris.com>
Date: 2003/07/16 Wed PM 12:09:17 EST
To: <canslim@lists.xmission.com>
Subject: RE: [CANSLIM] Market Trend Charts
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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<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></BODY></HTML>
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