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Strategies & Market Trends : Rande Is . . . HOME
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To: DlphcOracl who wrote (33373)8/31/2000 6:45:54 AM
From: DlphcOracl  Read Replies (1) of 57584
 
Trading Tips from Dorsey-Wright Associates

The following trading tips from Dorsey-Wright, of Point-and-Figure charting fame, were sent with their August 28th report. They contain excellent advice which may be helpful to thread readers.

1. Most tips to buy a stock come from sellers and most tips to sell come from buyers. Be wise -- recognize the fact there are no disinterested people in the market. You and you alone can be your own best financial advisor. The problem only requires some time, study, and practice.

2. The first stocks to double in a bull market usually double again.

3. When you close out a position, forget it. It's over. Many people take a profit and are unhappy if the stock does not immediately collapse.

4. News on a stock is not important. It is how a stock reacts to that news which is important.

5. The principal thing needed to make a good investor or trader is patience -- lots of patience, in fact. In the market, many opportunities for profit come to those who have patience. Do not be carried away by the enthusiasm (or lack thereof) of other people.

6. When you buy a stock you should write down the reason why you bought it and keep that in mind later on. This may help you better decide when to sell the stock. If your reason for initially buying the stock, changes, you should re-evaluate your position and decide if you want to continue to hold the stock or sell it.

Good luck to all investors and traders on the thread.

Dlphc Oracl
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