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Trader Ramblings
neutron
post Posted: Sep 27 2009, 01:31 PM
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A tale of two fisherman...

Sam caressed his beaten up dingy into the pristine blue water, just a hop-step-jump from his cabin at the edge of the bay. His stomach full and warm with croissants and coffee. Not long now before he would be at his favourite fishing spot on the large lake. A sheltered bay, surrounded by proud tall Jarrah trees and lush undergrowth that crept right up to the waters edge. His favourite lure, prepared the night before, would soon be doing its thing, while Sam would wait patiently for that elusive big bream to wander by....

Pete couldn't see much, probably why he smashed his toe on the sharp rocks as he forced his new inflatable dingy against the wind into the choppy waters of the lakes edge. It would be light soon though, at least he would be able to grab a quick snack out of his esky to ease the hunger pains. His primary concern was not to damage the flash new sonar gear on the rocky bottom before he found some depth. As usual Pete had little idea where he was going to end up that morning, no doubt the big bream were holed up in some god forsaken corner of the lake. He had a fair idea which lures were going to be popular this morning, but you can never be sure... best to have them all ready.

Which fishermen r u ?

 
opptimistic
post Posted: Jun 18 2009, 08:40 PM
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Ok, may be the wrong place, apologies first. Now tonight on Current Affair? there were dogs who have taken part in arthritis trials, which were given adult stem cells extracted from their fats using liposuction. The stem cells were injected back into the dogs and they had a new lease on life. They are about to offer the same treatment to humans. Astra zeneca, with Zimmer and IngeKo are supporting the research. I can't find them listed on the ASX. It would be great to be able to get some of the action as joint replacement costs Australia $630million per year and arthritis $9Billion. http://www.crca.asn.au/showcase/adult-stem...-pain-arthritis. Can anyone help. Please. Thank You. biggrin.gif

 
blueice
post Posted: Apr 24 2009, 08:57 AM
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Might be interesting to check out WME and TOE this morning if there is no gap on the opening that is.........also of interest is BTA...............good luck to all and PLEASE do YOUR OWN RESEARCH........................

 
Twobees
post Posted: Apr 17 2009, 06:02 PM
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In Reply To: Twobees's post @ Apr 17 2009, 01:39 AM

You could rewrite the article below so that it was about fundamental/Buffet style investing and the same principles would apply.

 
Twobees
post Posted: Apr 17 2009, 01:39 AM
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TODD HARRISON <h1 id="StoryContent_TopPageNavigation_Headline" class="storytitle">The 10 trading commandments</h1> <h2 id="StoryContent_TopPageNavigation_Headline2" class="storytitle">Commentary: The basic rules for investing success</h2> By Todd Harrison Last update: 12:24 a.m. EDT April 15, 2009 Comments: 82 NEW YORK (MarketWatch) -- I remember why I wanted to be a trader. I figured the easiest way to make money was to stand near the cash register.



Of course, as I discovered throughout my career, there's a reason consistent producers get paid the big bucks. Flashy bets and big swings sometimes connect but in the end, a disciplined and consistent approach pays the bills. I've tripped plenty through the years, missteps that almost cost me my livelihood. But I persevered, climbed the ladder and morphed those mistakes into valuable lessons. I matured as a vice president at Morgan Stanley,a managing director at the Galleon Group and as the president of Cramer Berkowitz, a $400 million hedge fund. My approach wasn't always constant. But in the end, certain rules allowed me to stay in the game.
These are those rules: 1.) Respect the price action but never defer to it. Our eyes are valuable tools when trading, but if we deferred to the flickering ticks, stocks would be "better" up and "worse" down. That's backward logic. 2.) Discipline trumps conviction. No matter how strongly you feel on a given position, you must defer to the principles of discipline when trading. Always try to define your risk and never believe you're smarter than the market.3.) Opportunities are made up easier than losses.

It's not necessary to play every day; it's only necessary to have a high winning percentage on the trades you choose to make. Sometimes the ability not to trade is as important as trading ability. 4.) Emotion is the enemy when trading. Emotional decisions have a way of coming back to haunt you. If you're personally attached to a position, your decision-making process will be flawed. Take a deep breath before risking your hard-earned coin. See related link. 5.) Zig when others zag. Sell hope, buy despair and take the other side of emotional disconnects. If you can't find the sheep in the herd, chances are you're it. 6.) Adapt your style to the market. Different investment approaches are warranted at different junctures, and applying the right methodology is half the battle. Map a plan before stepping on the field so your time horizon and risk profile are in sync. 7.) Maximize your reward relative to your risk. If you're patient and pick your spots, edges will emerge that provide an advantageous risk/reward. There is usually one easy trade per session if you let it show itself. 8.) Perception is reality in the marketplace. Identifying the prevalent psychology is necessary when assimilating the trading dynamic. It's not what is, it's what's perceived to be that dictates the price action. 9.) When unsure, trade "in between." When in doubt, sit it out. Your risk profile should always be an extension of your thought process and when unsure, trade smaller until you establish a rhythm. 10.) Don't let your bad trades turn into investments. Rationalization has no place in trading. If you put on a position for a catalyst and it passes, take the risk off -- win, lose or draw. Good traders know how to make money but great traders know how to take a loss. There are obviously more rules but I've found these to be common threads through the years. Where you stand is a function of where you sit. So please understand that some of these guidelines may not apply to your particular approach. As always, I share my process with hopes it adds value to yours. Find a style that works for you, always allow for a margin of error and trade to win, never trade "not to lose." And remember -- any trader worth his or her salt has endured periods of pain but if we learn from those mistakes, they'll morph into lessons. For if there wasn't risk in this profession, it would be called "winning," not "trading."


Said 'Thanks' for this post: kahuna1  
 
stezz
post Posted: Apr 7 2009, 11:02 AM
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BBI looking good for a break above 6.8c - 7.0c resistance. I'm definitely no expert TAer but the chart looks interesting to me. Any opinions?

 

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Twobees
post Posted: Oct 31 2008, 12:09 AM
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In reply to: Zaitech on Thursday 30/10/08 11:53pm

I have been riding the cashed up big energy stocks as the whole sector was so oversold. Feels like there could be some interest in bringing it back to fairer value. Not sure how long it will take to stall out. Maybe looking at bashed in REITS next. Yourself?

 
Zaitech
post Posted: Oct 30 2008, 11:53 PM
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In reply to: Zaitech on Monday 20/10/08 07:26am

And I have been continually buying - there have been so many shares that seem to me to have been oversold and so have been using my cash reserves this month to buy buy buy

Happy Trading
Z





 
Zaitech
post Posted: Oct 20 2008, 07:26 AM
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QUOTE (The Pro @ Saturday 18/10/08 08:27pm)

Yes Yes Yes...that is also a fav quote of mine in relation to investments [Oct has been a great month to build up long-term portfolio] ...and will see me buying again this week...as for trading I will also look to be buying [and selling / adding depending on price action]

As I mentioned on 7/10 - follow the smart money - and Buffett had been spending billions buying...

Happy Trading
Z

 
The Pro
post Posted: Oct 18 2008, 08:27 PM
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A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.

I love this quote by Buffett, its no wonder he is such a successfull trader!!!



--------------------
I made it and then lost it and then made it all back, never to lose it again!!!
.............. Lost it again!!!!!!!
.............. Making it back again!!!!
 
 


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