Friday, August 02, 2013

BIMB, MBSB, long term weekly power trends.
 
If one had the foresight and the capital to enter long positions in these stocks and hold for the past 3 years, the rewards are obvious.
 
I heard a trader say to another that he chase a rubber glove stock, now 0.635 in anticipation of good result tomorrow. This trader first bought this stock at 0.49 on a tip from this group that cornered the stock, all long for many years, with the price below their acquisition price. He is lamenting buying at the highs, as  his original posiiton he traded in and out for 1 or 2 cent provit, trying to be clever in active management of the position.
 
Which one would you prefer to be? The myopic short term trader or the visionary long term power trend player?

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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