Hi Bill,
It occurs to me that Mr. L. really never discussed figuring out the "next trade point", and thereby recommended updating prices bi-weekly or monthly.
GTC is definitely the way to go, particularly with stocks, in order to take advantage of daily trading ranges rather than looking at the close at bi-weekly or monthly intervals. As Tom indicated, it takes less time, effort and energy as well.
Way back in 1983, I had bought a book called The Money Spinner which was based on Mr. Lichello's method (credit was given), and improved upon with calculations of Next Buy and Next Sell, and the use of GTC orders as well.
Regarding those comments at Amazon, I would recommend that anyone having trouble with Mr. Lichello's style of writing, read The Money Spinner; it's all there in very clear, concise language.
Sincerely,
Jack |
