|
PureBytes Links
Trading Reference Links
|
Girish Patel, M.D. wrote:
>
> A comment on Wade Cook, etc:
>
> If it weren't for Wade Cook, people like me would not have read Larry
> Williams, Alex Elders, etc. For years, I have left my investments at the
> mercy of money managers, not understanding the markets. Now I feel somewhat
> confident in making my decisions. Wade Cook's simplification of the options
> market has made it easier to understand its complexities. Of ocurse, he
> wants to make a lot of money teaching other people. I see nothing wrong with
> it- Isn't that Capitalism all about?
>
> Everyone with new ideas has been slammed by others. Cook has his drawbacks,
> but there are also many, many positives aspects to what he is doing.
>
> Those with intelligece will take his teachings with a grain of salt. They
> will check them out. However, learn they will, and in the long run
> participation by more people in the market will be beneficial for all -
> including this site.
>
> Girish Patel, M.D.
>
You expressed my feelings and experiences about Wade Cook's methods and
popularity. His books demystified trading options and stocks for me, and
gave me the confidence to pursue trading more agressively. I checked his
concepts out with internet/web sources, and read books by the names that
kept showing up over and over (books by Elders, Thomsett, McMillian,
etc.).
Armed with this new confidence, and an opportunity for a "buy-out" from
my employer, I spent 4 months getting "ready" to trade full-time.
Besides studying and light trading, we setup a corporation for trading,
and to pay me a "salary", and other tax-related consideration covered by
Wade (but did the work ourselves, did not use his company).
Today, I have finished my first full month of "trading for a living"
with a positive cash flow of $13,808.25 (for the 4 weeks of February).
I am currently studying Jeff Cooper's methods (Hit and Run Bible, and
5-Day Momentum Method), and reading several other books. Daily, I rely
on the emial service "NetPicks StockOption Premiere Advisory" and their
"Emerging Signals" service with web-based reports at 8:30am CT, 11:30am
CT, and 2:00pm CT. (My husband also subscribes to The RightLine Splits
Report.)
Although I consider myself "beyond" Wade Cook's methods, I still use
many of his principles: Don't Get Greedy, Cash is King, and "the money
is the meter drop". These principles rang true for me at the time and
still do today.
Good trading to all.
P.J.Ryan
|