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Stuart:
I was reading your wanting real trading experience discussion.
Here is another one.
My friend John G. called me today.
I have not heard from him since about December.
John is the one that kind of gave me the idea of trading one stock.
Last year John called me telling me he was trading stocks.
He was doing really well.
He tried several different stocks.
And started trading microsoft short term in and out.
Last year was his first year.
No experience before, I don't think.
He started trading 12,000 shares of msft and making money.
I was impressed. He did not have real time or charts or anything.
I told him about quotrek and pcquotes. He uses pcquotes.
His results last year. $250,000. Beginner's luck.
He said this year, he was up $80,000 on microsoft.
He told me he was looking at wade cooks stuff.
I told he don't read anything, don't talk to anyone.
Just keep on doing what you are doing. Don't change anything.
He is in sync. A natural.
Question: How much stuff do you need to trade and make money?
1. You need capital.
2. You need one stock.
3. You need to watch, observe, determine your entry point and your exit
point.
4. You need to be patient.
Pretty basic.
Pretty simple.
John rewarded him self buying a 57 fuel injected corvette, perfect
shape.
Conclusion, if you cannot make money trading one stock well, what makes
you
think trading more will be any better.
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Other things I think are important to profitable trading and what most
books say.
mindset
attitude
focus
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Goal: to use the least amount of tools, support stuff, effort, etc.
to make successful trades.
So, I have to remind myself to KISS (keep it simple stupid).
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Books that come to mind.
Green covered book by Douglas.
Element of Successful Trading by Rotella.
Market Wizards by Schwager
The Nature of Risk by Mamis
Wall Street The other Las Vegas by Nichols Darvas
The books by Trader Vic.
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Did not trade klac today. Probably go side ways. Options X friday.
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Good trading.
Bob
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