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Hi Stephen:
Thanks for your reply and concern again!
I guess we need to do our individual research.
I've read Lichello's book several times over the years, and have written a
small spreadsheet based on his ideas. His ideas are not perfect. For
example, he did not mention about timing, as you rightly pointed out that
it'll likely kill you to start the process in a downtrend. Also, he left
out the topic of selecting the right stocks (not his fault - he did mention
the investor should choose his stocks based on sound fundamentals, e.g., GE).
I like his ideas in general. I've tried the averaging down approach on
some of my options trading, with modestly successful results. In general,
I do not blindly follow what TS4 signals tell me. I use my own discretion
as well.
Lichello did mention in his book that he never made a million dollars
himself (as he was asked that question by attendees in his seminars. He
did say, though, that it's probable that some who use his ideas MAY make $1
million.
I'll treasure your advice and caution, and thanks for the book
recommendations. I'll try to read as many of them as I can in the future.
Regards,
Wong
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At 01:23 PM 03/22/99 +1100, SJ wrote:
>Thank you for the book recommendation
>"How to make a $1,000,000 in the Stock Market Automatically"
>By Richard Lichello.
>Has Mr Lichello made $1,000,000 ?? I believe NOT!
> One should "Walk the Talk" if one makes such claims!!
>
>I will stick to books like:
>*Stan Weinstein's "Secrets for Profiting in Bull and Bear Markets"
>ISBN 1-55623-079-6
>
>*Gregory Morris's "Candlestick Cahrting Explained: Timeless Techniques
>for Trading Stocks and Futures"
>ISBN 1-55738-891-1
>
>*Sheldon Natenberg's "Option and Volatility & Pricing: Advanced Trading
>Strategies and Techniques"
>ISBN 1-55738-486-X
>
>*Mark Douglas's "The Disciplined Trader: Developing Winning Attitudes"
>ISBN 0-13-215757-8
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