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IMO, David Smith's "Short Swing Trading" is
so-so. No magic and no big secrets. Just standard indicators (e.g.,
MA) with a requirement that price confirm signals,
that the stock is a "smooth
trender" and that trailing stops are used. Experienced traders will
probably not benefit from the book. Nothing exceptional in my view in
terms of approach or results. On balance, I still suggest Farley's book at
1/3 the cost for both experienced and new traders - much more "meat" - and it
compliments Farley's website "Hard Right Edge." Although I'm a
discretionary trader, I incorporate (internalized) a number of Farley's
tidbits. But Smith is easy to understand and as good as other
books/services for those getting started.
Bill
----- Original Message -----
Sent: Sunday, May 27, 2007 3:01 AM
Subject: Re: [amibroker] Re: Ideas for
Swing Trading?
I have seen several reactions on the 'Short Swing
Trading' service. Of course 2,5% a day on a consistent basis only exists in my
dreams. I am more than happy with 2,5% per month. Since the 'Short Swing
Trading' service seems to be the 'Holy Grail' -) -) -), I assume that they
have a registration with Hulbert in the States. Do they ? If so what is
Hulbert telling us about performance and quality of the 'Swing Trading'
service ? Or is 'Short Swing Trading' just a quick and d... USD 96
course to make people rich ? If so why is not every financial institution in
the world using this application ?
Regards, Ton.
----- Original Message -----
Sent: Sunday, May 27, 2007 12:09
AM
Subject: RE: [amibroker] Re: Ideas for
Swing Trading?
Dennis,
2.5% a day on 100k
is 2500 a day, Yes I can live on that nicely too
You sure he doe
this consistently? I for one would pay him to manage my
funds
Mark
On 5/26/07, Dennis Brown <see3d@xxxxxxxxcom>
wrote:
I know of more than one 1% per day method, but of
course it will not work to compound. That is not the way a true trader
does it. I know a trader who averages 2.5% per day on about 5 trades
per day on one ETF, and holds no position overnight. He pulls his
profits out and lives on them or puts them to work in longer term
investments. High rates of return only work for small
investments and usually require a lot of personal attention and pattern
recognition during the day. If it worked for large sums, or easy
computer algorithms, the big boys (or hoards) would work that angle to death
and the edge would get neutralized. Once you try to increase position
sizes above a certain amount, you start to influence the market and you have
no one to play against --it takes two to have a market. That is why
large mutual funds must look to a fundamental value model. They can
not trade the technicals quick enough without kill
Dennis
On May 26, 2007, at 4:02 PM, Howard B
wrote:
One percent a day. Yeah, right.
Compound one percent a day for five years and a $1,000 trading
account becomes $278,000,000. Start with real money and own
Manhattan.
(1.01) ^ 1260 =
278,567
Howard
On 5/26/07,
dralexchambers <dralexchambers@yahoo.com>
wrote:
T-ohrt - the thing you are missing is not your
technical ability, but
your BELIEF and your ATTITUDE to new
things.
You seem to mistrust my recommendation when in fact you
nothing of
me, my level of trading knowledge, this system or my
involvement with
it (my involvement is none other than my affiliate link
- just to
make that entirely clear).
If you believe that 1% a
month is all that is possible, that will be
your reality, and you will
discount ideas that make more as trickery.
If you want trade lists,
further explanations on the system I
recommended - discuss it with David,
the author. It is not my job to
divulge a system that someone else
owns.
However, I will say that David's system is very credible and
also
very simple. I have recieved a lot of support from David and his
system opened my eyes to swing trading.
I also know of an
individual who makes 1% A DAY - and publishes all
his methods and
indicators for free, online.
Look for The Rumpled One at:
www.kreslik.com.
I am currently porting his
work over to Amibroker on that site.
And yes, once again - it is all
FREE, and you definately won't find
it in your "Beyond Technical
Analysis" book.
AC
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