Tuesday, November 09, 2010

20101109 YTL Power, a stock which the astute can own during the BUY call in 2008.... Today the punter gamblers were betting on it, after a large run up on the weekly chart. But then if you like this type of thing 2.40 break would be a good thrill to gamble on the movement.

What is the difference?
Group 1 are the people with the cash and recognise capitulation when everyone else recognise it as the 'end of the world' in 2008, can put $ to work and make big $
Group 2 are those without much capital, likes to gamble, a good thrill, and bragging rights to do a quick buck trade on stocks. Oh and yes, insider trading (which is illegal and W Buffett always say 'never break the lww') can help too...

But both are legitimate means of making $ form the market, only the risk return parameters are different....

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system