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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (56588)	11/29/2001 9:16:35 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

Oh, I get it. You're not foolin' me. You've been showing us your pro forma results. Then, at 2 am on the last Saturday of the year, there will be a long, detailed post. In the footnotes, you'll admit you haven't told us about all your losing trades, and are now lumping them into a large "one-time extraordinary charge", which you want us to ignore. Writing off all the goodwill you've got. You devil, you. Do you moonlight as an accountant for JDSU?

To: advocatedevil who wrote (56588)	11/29/2001 9:43:44 PM
From: kdavy	Read Replies (2) \| Respond to of 70976

Ad & Jacob, I have been hearing this debate about LTBH and st traders for quite some time. The debate is moot because it depends on individual's style, experience and research. I have been trading since 1996 and have done extremely well. My goal is to pay maximum taxes possible. My dream is to pay a million dollars a year in taxes (just a dream, long ways to go). With my style the government, brokers and I are getting richer every year. Last 5 years I have paid in 39.5% bracket+ state taxes for the market returns. Longest I have kept stocks is about four months. My trading depends on the market. I have variable targets and I may sell stocks same day or keep them for months. This year has not been as good as previous years because I don't spend as much time. So far I am about 35% up for the year. December is usually is my most profitable month. There is time to make few more bucks. Last four five years Ihave averaged between 150 and 220% profit. So even after paying taxes, I think I am doing really well. So it is not a question of which method is better, ethical or efficient; whatever works we should use it. Goal is to make money. There will always be great moments and depressing moments. If we cannot deal with them we should not be in the market. we can cite examples of horror stories and successes with each method. They are not relevant. Lessons learned over the years: a. don't catch falling knives. b. if you do and things go wrong way, don't hesitate to take a loss c. limit your losses (most important) d. Use some charts or fundaments to develop a method, and keep refining it. We have lots of successful ways to make money; AD, Tito, Jacob, Cary, Gottfried and so many others have individual styles which are much better then giving your money to the pros.... Please excuse the ramblings and the lecture. I am just happy. kdavy