Stock Trading Riches: The Simple, But Powerful Formula That Transforms Your Stock Picks Into Money Pumps Paperback – 23 Oct 2007
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Most Helpful Customer Reviews on Amazon.com (beta)
I used the excel sheet provided in the book to test dozens of random stocks over the past 6 years and about 80% beat Buy and Hold over the same time period.
The results were good but I needed more proof since the market conditions of the last 6 years did not capture every possible market scenerio.
With the excel sheet , I simply created every possible market movement I could think of and still my results were very good.
This is the kind of system someone with very little investment or trading experience can pick-up and implement right away,that's how simple it is. I found that it will work for retirement accounts and trading accounts.
Many times ,especially those of us who are traders, dismiss the simple for being ineffective but the truth is the more complex the trading system the more likely it is to fail over time.
And oh yeah-what I love most about this book-he gets right to the point and shows you how the system works. No beating around the bush for a 100 pages.
Deals with continued withdrawals and deposit of money.
Not value for money.
The author puts a few compelling arguments on why his technique over the long term is a better approach to trading.
One argument is that the technique inherently requires minimum involvement from you until your "rebalance period" expires and you either have to buy or sell the shares. This means that you don't have to worry about timing but concentrate in investing in excellent companies.
Other arguments for the technique such as tax benefits and how loss in one period can self correct in another are enumerated.
This technique of course requires discipline in that its a long term investment strategy. Instead of vertical growth by buying and selling frequently, it requires you to "own a constant value of as many positions as possible" and grow horizontally.
using the excel format the author provided I tested the system on several financial instruments and It might give good results; the main factor for success is that the selected financial instruments does not go to zero, does have good volatility and an historic general uptrend. Given these premises the success is insured.
I selected this system for my longterm investment portfolio.
I will use this for long term money. I think it will build slowly.
Not a short tern strategy .