are there any CANSLIM traders here?

[Samson77]

Quote from SteveD:

I have a friend who made over $10,000,000 using CANSLIM, LOL. That is not a misprint!!!

SteveD

Does he sell the system for 2k in a seminar... LOL

 

[Grob109]

Quote from hezhu:

Maybe the study should be renamed to be "study of some patterns from CANSLIM". The test doesn't mean to prove wrong. If the pattern itself works statistically, CANSLIM should do much better after considerations of all other factors. Why is there a pattern? It must has its reasons as described in the book by O'Neil. I believe patterns actually already embbeding some fundalments in it to some extend in most cases. Any test has its limitations as pointed out in my study. If you claim XYZ work, someone proves X without YZ also works. It means XYZ together should do better. Thanks.

Your several posts are very constructive and rational.

Among the vast spectrum of approaches and possibilites to be considered, it is important have an attitude to gleen and mesh, into a system, a variety of contributing elements.

A good exercise to do for gaining perspective is to begin at the opposite poles of micro and macro operations. As you cross this spectrum you will see there are occasional peaks in getting the job done. Once you see how limitations of all sorts come into the picture at various places, you get to a very good place for melding together the set of independant methods you will need for handling the piles of capital you will be acquiring.

 

[Trend Fader]

Quote from Grob109:

Your several posts are very constructive and rational.

Among the vast spectrum of approaches and possibilites to be considered, it is important have an attitude to gleen and mesh, into a system, a variety of contributing elements.

A good exercise to do for gaining perspective is to begin at the opposite poles of micro and macro operations. As you cross this spectrum you will see there are occasional peaks in getting the job done. Once you see how limitations of all sorts come into the picture at various places, you get to a very good place for melding together the set of independant methods you will need for handling the piles of capital you will be acquiring.

I think its time to ban your again from ET. You are just talking a bunch of crap again.

U make any topic as if it were designed for NASA engineers.


--MIKE

 

[murray t turtle]

Quote from sucre_estave:

Here's a few that cost me thousands:

1. Waiting for a stock that had just broken out of a base that day to come down 15 cents so I could save 90 bucks. It never did, so I let it go and of course it took off. I kept tabs on it and traced the point were it started to give sell signals, 24 dollars higher than when I quibbled over 15 cents. Moral: you're playing for gains of 25% or more - don't nickel and dime yourself over a few bucks.

2. Selling a stock the first time it made a new high on low volume. This IS a sell rule, but it is tough to judge and must be put into context - was the market low volume that day? How far along is the stock from its breakout? Is the market strong or shaky? Is the stock starting to sell off hard? I netted 30% on the sale, nothing to complain about, but the REAL sell point would have netted me 160%.

3. Buying ANY breakout of a strong fundamental stock. You really have to analyze the price/volume action in the stock's base to judge its liklihood of success. O'Neil goes over this in his latest book "The Successful Investor", but it takes practice to learn. I bought several breakouts from bases that were poor, and they quickly turned into losers even though their fundamentals were great.

4. Waiting too long to sell. While I never violated any stops, a few times I could have gotten out earlier when new buys weren't working rather than waiting for them to fall 8%.

5. Buying on a return to the pivot point. A stock I loved gapped up past the pivot on the after hours session following its earnings announcement. I never fool with after hours trading, so I was just disappointed. About 2/3 days later the stock sold off so I thought I was the luckiest man on the planet to get it right at the original pivot point. Needless to say it kept falling and stopped me out with an 8% loss. While I imagine you could buy a stock if it just drifts down to its pivot in light volume if the market happened to be selling off a little, I prefer to avoid it if I miss the stock heading up.

6. Holding on to a breakout even though the breakout day's volume didn't end up 50% above average. While sometimes the breakout still holds up, the odds are better if the volume is very high.


I was lucky to do most of my learning in a bull market last year. Unfortunately I wasn't applying the strategy until mid April and missed the start of the rally in March. I might have managed a decent profit even with my bonehead moves.

Hope this helps.

%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
S-estave;
Good points & actually you did well for first year.


On number 4, wouldnt be to quick to sell sideways trend in a bull market;
unless its written & well measured in you plan
to sell under performers.

Interesting first 6-7 months of DIA, SPY. QQQ have done much better last year compared to this year.



Always protects;
always peseveres.

 

[Grob109]

Quote from Trend Fader:

I think its time to ban your again from ET. You are just talking a bunch of crap again.

U make any topic as if it were designed for NASA engineers.


--MIKE

You should make that suggestion. If you do not get your way, just put me on ignore. I am rarely quoted, so your personal risk of seeing anything I post would get fairly slim.

The idea of assembling something in a custom way from quality parts is definitely not rocket science.

The idea of rejecting, in toto, something is also not too swift an idea. If only one small thought can be gleened and used to make money, it is worth it because you get a payback over and over.

Almost all funds subscribe to softwares services of IBD. They meld it with other stuff it turns out.

 

[dbphoenix]

Quote from Grob109:


Almost all funds subscribe to softwares services of IBD. They meld it with other stuff it turns out.

If you're comparing IBD to WONDA, you must have stood out in the rain for too long.

 

[Grob109]

Quote from dbphoenix:

If you're comparing IBD to WONDA, you must have stood out in the rain for too long.

I always stand out in the rain when it comes. By choosing to live in Tucson, AZ I luck out on how often and long I get to be outstanding.

I have to settle for being outstanding in other ways. So far you, haven't seen anything outstanding from me.

I am just an older person who is mediocre and not outstanding in any way. It works out for me quite well.

The monsoon is not running to strongly this year so far. I work outside for about five hours a day until sunset. Mostly with concrete, stone, CMU's, mortar and grout. I just placed about 350 wine bottles in a sunset seating area. Each bottle has it's individual light for use after sunset.

Guessing that I stood out in the rain too long is really funny. This thread is getting beat up by you and others. To what end? The usual it looks like.

My vein is not to compare. It is something else. What I do is relatively unimportant; it usually has no real deep meaning or anything. My sandbox is just a sandbox and I enjoy being in it and having a life that is rich in many many ways.

That pontificating thing you came up with may be missing the target. If anyone were to contribute to ET in anyway it might best be done through being helpful. You conclude that it is my way or the highway; too bad you do not focus on all the many other ways there are. Putting people down, excepted.

More and more it seems you spend time trashing stuff and other people. You post that I stalk you. Sad situation for you.

Why don't you get around to figuring out that I am unimportant in the scheme of things?

 

[Uncle Festus]

Hey, db...are you the same db phoenix who used to be on the Motley Fool boards and traded mostly CANSLIM and had "db's burrow"? Your writing style looks very similar to his.

 

[dbphoenix]

Quote from Grob109:


Why don't you get around to figuring out that I am unimportant in the scheme of things?

So, Jack, you can dish it out but you can't take it? Boo hoo hoo.

Take it to somebody who cares. This bridge is closed.

 

[dbphoenix]

Quote from Uncle Festus:

Hey, db...are you the same db phoenix who used to be on the Motley Fool boards and traded mostly CANSLIM and had "db's burrow"? Your writing style looks very similar to his.

Why yes, Festus. Still there, actually, as long as it's free. I've had to modify CANSLIM quite a bit, but it still suits for longer-term trading (the cycle so far has been about a year).

Note: you've been off for quite a while. Setting the world on fire?