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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Abbeydale who wrote (2159)	4/19/2001 3:12:00 PM
From: kirby49	Respond to of 5144

Abbey: He talks about how you should have positions in about seven stocks all in one sector at one time. Loeb worked the 30's depression and the last update to his book was done by him in 1988. I believe he has passed away now. I think the title is The Battle for Investment Survival and it is a great introductory read. No internet or databases for him of course and the best skill available was to be able to read and act on the ticker. I have known many who started calling themselves traders, tried to juggle too many and dropped the ball too often. It is as fatal a mistake as deceiving yourself by taking these dropped balls and putting them aside in a "long term account". Many of the 90% Cush talked about that are gone fell into this category no doubt. If that doesn't answer your question, let me know. Other books I would recommend include Dr. Alexander Elder's Trading for a Living, Joseph Walker's Selling Short, and James Dines, The Invisible Crash. You can check out the Elliot Wave Thread and see how they relied on one book as a bible until they found it was missing a key piece of the puzzle which was solved just recently. The idea is to make your own rules and discipline from others and apply it to yourself but to keep it simple. Some rules of course should never be broken, like when an order is filled a stop shall be placed before next days open, or never average down, etc. By the way, I lived in Edmonton for the ten years that Gretzky was in the NHL there, from '79 to '88. Nice city. Regards, Bob