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#111
18th July 2007, 06:27 PM
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Re: Wisdom Dump
"It took us six years to learn how to trade stocks"
From James Simons - http://en.wikipedia.org/wiki/James_Harris_Simons Last edited by CreditViolet; 20th July 2007 at 08:22 PM. 
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#112
20th July 2007, 08:21 PM
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Re: Wisdom Dump
From Eddie Lampert
Be an avid reader of books, newspapers, and magazines. Approach much of what is written and said with an appropriate amount of healthy skepticism Be particularly careful with respect to the loudest views, the most widely held views, or the so-called "expert" views. Double check the accuracy and the sources of your data. For many commentators, analysts, and reporters, their success is dependent on the excitement or controversy generated by their articles - not on the accuracy of their writing or of their predictions. Read broadly, and be appropriately skeptical of the so-called experts.
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#113
21st July 2007, 07:07 PM
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Re: Wisdom Dump
A different way of looking at trading is by focusing on Money Management and Risk rather than finding magic indicators and making good predictions. Trading thus moves from a hobby to a business.
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#114
21st July 2007, 08:25 PM
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Re: Wisdom Dump
Quote:
What would you do if you were a mango seller? Just arrange & rearrange the notes & coins under your gunny bag or try to buy (mangoes) at the lowest & sell at the highest price you could catch? (while also striving to maintain an optimum stock under varying mkt conditions) Regards, Kalyan.
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#115
21st July 2007, 09:53 PM
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Re: Wisdom Dump
well kk, to reduce risks, the mango seller will buy optimal quantity of mangoes so that he wont be left with surplus to rot, buy at the lowest price for the given quantity and quality so that if there are no buyers at the selling price, his loss is lowest, and try to sell at the optimal price, slightly lower than the prevalent price or much higher (in an inefficient market depending on the inefficiency ) to clear his stock faster to avoid the risk of getting stuck with rotten mangoes. so a proper risk management plan incorporates everything. things that we usually dont consider, like innovation, quality etc, cos otherwise you face the greatest risk of extinction.
in trading also we usually confuse RM with MM and even worse stop loss. Well we should continue the discussion in another thread in case CV gets upset and decides to close this thread a la saint. Last edited by beginner_av; 21st July 2007 at 10:40 PM.
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#116
21st July 2007, 10:19 PM
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Re: Wisdom Dump
Great BAV.
That post of yours is as good a Wisdom piece as i've read in this thread. (I'm sure CV wouldn't grudge that one  )You're absolutely right. All of it has to be as integrated & seamless as possible. No isolated 'afterthoughts'. Regards, Kalyan.
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#117
21st July 2007, 10:33 PM
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Re: Wisdom Dump
Quote:
This thread is now closed! I am jst a minute away from being sad leaving the forum!  Just kidding, you guys are free to discuss any matter thats pops up on the radar
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#119
21st July 2007, 10:46 PM
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Re: Wisdom Dump
Quote:
as CV said, nothing can be left to chance.
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