Tuesday, April 09, 2013

In his book "Long term secrets to short term trading", Larry Williams pointed out that
 
"It takes time to make money"
 
Opportunity of a lifetime present to those patient and disciplined traders who can transcend the space time continuum....
 
When someone tries to sell the dream asking you to join as an exchange member to trade "actively" to make a million dollars, think of the above statement and contemplate the attached charts.(weekly charts they are)

One also needs to bear in mind the following

"Every partial truth contains a dangerous lie"

when others try to sell dreams to you, as the sad truth is the market is more likely to take money from a trader than the trader making millions through short term trading..

The long term weekly charts show that the stock market has been in one of the greatest bull market runs in recent years, but most of the general public and short term traders were not on board. Why?

This is due to being fed 'partial truths' by the experts, brokers etc. The corrolary to this is the statement "This has been one of the greatest bull runs..." is also a partial truth, with the dangerous lie manifesting itself when ((not if) the market crashes...

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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