Here's a proposal, Reid. Based upon the fact that when I started following things here you were batting about .900 but starting around Sept. 1 and the Naz's collapse, I haven't quantified it, but I'm pretty sure one would be in the red if one followed your buy and short picks (I was following a hybrid method of following your picks and my own).
I'm of the belief that methodologies should be quantified as much as possible to show they in fact work, and to build the confidence to allow one to keep using them in the inevitable losing periods (or know when losing periods are likely to happen, e.g. strong down markets??). So, I'm proposing to follow every pick you make and establish a track record. Interested?
There's a problem in that when you say buy or short, there's usually no limit stated, plus there's usually no mention as when to sell or when to place a stop and where.
So, the proposal is for you to specifically post something like this, "Buy XYZ at limit of $10, with stop loss of $8." After it appears that a real life fill would have been made (not hard on the stocks you pick, since they're so high volume and we'll take the spreads stated), then we enter that (eeek, record keeping!). Then you could post trailing stops or sell orders and we enter the results. Maybe it could even be an ongoing part of the thread?
I'm not sure I want to be the one to be responsible for keeping up with the paperwork, but since it's my idea I'll do it for awhile unless someone else out there wants to volunteer.
What do you think? Worth doing? |
