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Last Edit: 2008/09/12 13:13 By yeahbah.
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Buy High, Sell Higher!
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jonf1tch (User)
Alright, Stop. Hammer Time!
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Posts: 67
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Re:7 Habits of a Highly Successful Trader 2 Months, 3 Weeks ago
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Karma: 1
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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..?
thanks!
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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 2 Months, 3 Weeks ago
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Karma: 3
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haven't read the book but i think it's just a marketing tactic hehe
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Buy High, Sell Higher!
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jonf1tch (User)
Alright, Stop. Hammer Time!
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Posts: 67
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Re:7 Habits of a Highly Successful Trader 2 Months, 3 Weeks ago
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Karma: 1
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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 |
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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 2 Months, 3 Weeks ago
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Karma: 1
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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.
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CASH IS KING IN ANY COLOR EXCEPT GREEN!!!!
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jonf1tch (User)
Alright, Stop. Hammer Time!
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Posts: 67
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Re:7 Habits of a Highly Successful Trader 2 Months, 3 Weeks ago
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Karma: 1
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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. |
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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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The administrator has disabled public write access.
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