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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: Steve from CA who wrote (13821)7/23/2015 12:03:10 PM
From: coferspeculator  Read Replies (1) of 14340
 
thx for sharing . . .

holding onto a stock can be hard to do . . especially if the vast majority of the stocks don't do much . . if only ten to twenty percent of one's choices go up over 50% it takes luck and it will take a long time before one develops the kind of patience and confidence required to hold when the vast majority don't perform good enough to make big gains . .

if 40% - 50% or more go up more than 50% it's a easier to gain the confidence to to hold but still requires learning, through experience, the importance of patience and discipline . . folks can learn patience and discipline if they really want to . .

having been doing this for nearly five decades I know it takes a lot of experience and time to be able to determine what names that will most likely be the next important leaders . . even then I know only 25% to 35% of the ideas will put up the 100% plus type gains I'm looking for and I know to get those gains I'll usually need to hold on for six to eighteen months . .

late in his life Livermore wrote his final book . . . he talked about only focusing on the eight current leaders of the moment . . that there were only about four or five times during a year when a buy might be made . . . IMO not much has change since if one wants to be successful

what has changed a lot since he traded is the volatility . . . it's harder to handle the price fluctuations unless you are truly committed to a choices business model and market opportunity . .

my thoughts for what they are worth . .

.
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