Re:7 Habits of a Highly Successful Trader 1 Month, 1 Week ago
Karma: 1
Hi yeahbah,
in the PDF it says "If you ever just read one book on the stock market then please let it be: 'How I made $2 million" by Nicolas Darvas...has anyone read that book? According to the comments on Amazon the strategy is similar to CANSLIM without as much fundamental focus..?
NEVER GO FULL-RETARD!!! ** If you want to increase your success rate, double your failure rate.--Thomas John Watson, Sr. (1874-1956), IBM ** Its the time you put in after 9 to 5 MON-FRI that ultimately makes the difference--William ONeil
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Re:7 Habits of a Highly Successful Trader 1 Month, 1 Week ago
Karma: 1
oh well. just checking (since i read the PDF) and Wikipedia stated:
QUOTE: And it was here that Darvas came up with this approach and plan for trading stocks that was to see him achieve $2,450,000.00 fortune in just 18 months, during the 1957-58 bull market. In total, just 7 short years since his first trade.
http://en.wikipedia.org/wiki/Nicolas_Darvas#Darvas_Profits
NEVER GO FULL-RETARD!!! ** If you want to increase your success rate, double your failure rate.--Thomas John Watson, Sr. (1874-1956), IBM ** Its the time you put in after 9 to 5 MON-FRI that ultimately makes the difference--William ONeil
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Re:7 Habits of a Highly Successful Trader 1 Month ago
Karma: 1
Ako these past few months what I realize is the lesser I trade the more I gain. Basically dati talaga tsupitero ako now medyo long termer ako and I make more money. Me thinks it has to do with paying less commissions and fees which sips money from our account. So trade long on a price that your are comfortable with. Not trading is better than trading only to lose.
Re:7 Habits of a Highly Successful Trader 1 Month ago
Karma: 1
i agree. the hardest thing to do personally is to muster the discipline to stick to the rules / system. i prefer relatively long-term positions as well. what you posted reminds of a study mentioned int this article:
QUOTE: In an earlier study of 66,400 investors, behavioral finance professors Terry Odean and Brad Barber concluded: "The more you trade the less you earn."
Buy-and-hold investors beat traders by substantial margins. The most active traders turned over their entire portfolios 258% annually, but their after-tax returns were only 11.4%. The reason: Active traders lose large sums paying higher expenses, transaction costs and taxes. In contrast, buy-and-hold investors turned their portfolios over a mere 2% annually, generating 18.5% returns. That's 50% higher. Source:http://www.marketwatch.com/news/story/welcome-new-world-lazy-portfolios/story.aspx?guid=%7B948951C8%2DD191%2D4582%2DBEC1%2D7DB75CE596B6%7D&dist=msr_2
i'm not aware of the background of the study though.
NEVER GO FULL-RETARD!!! ** If you want to increase your success rate, double your failure rate.--Thomas John Watson, Sr. (1874-1956), IBM ** Its the time you put in after 9 to 5 MON-FRI that ultimately makes the difference--William ONeil
The administrator has disabled public write access.
