If you had only 1 hour to look at a financial statement, what would you glance at?

Most people/traders are flat out LAZY.......
One should study as much as they can,and have an open mind before discounting it...

My analogy is MMA.....

Sure you can solely focus on striking and ignore a ground game,but let me know how that works out for you the first time someone hits you with a double leg and takes mount...

Put in the time,study as much as you can and have an open mind...Then accept or reject..


vanzandt said:
Well, there's a lot of time in a day and the human brain is boundless.
Why not learn booth?
That's my opinion anyway.

You see me calling out intraday trades as well as long term short/longs (and earnings plays too.)
A mind is a terrible thing to waste. Most try.
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taowave said:
100 percent disagree with you....

It appears you look at trading in a very narrow scope,and if you are making money,your method obviously works for you...But that does not discount the value of various financial metrics in another traders approach

The entire system of Canslim,modified Canslim is based on technicals and FUNDAMENTALS..

Sales and Earnings Growth,margin,ROE (flawed due to potential over leverage) , are essential metrics for those type of traders. You may not use them,your backtests(which I highly reccomend) may render them useless,but it works for that crowd..And before you counter,take a look who wins Zadehs's stock trading championship and their returns...rarely is it a 100% price action zealot:)

Where I do agree with you is that a technical/momo sort of filter is absolutely necessary if you are going to trade shorter time frames,and I am not talking day trading.
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Oh Buckeroo... you poked a stick at one of Zadeh's BIG DOGS and didn't realize it.

I'm one of Zadeh's U.S. Investing Champions in 3 categories!... and more! (I finished in the "top 10", 3 other years... and if "things" had been slightly different, I might have had 3x 1st place, 1 2nd, and 1 3rd in a 5-year span.... and I've made $MILLIONS off of it! My performance DOMINATED Steve Shellins' "MoneyResearch Newsletter for 5 years! So... you got some cred worth challenging me?... let's see it!)

Accusing me of "not knowing what I'm talking about" is akin to telling Tiger Woods, "you don't know 'nuthin about golf".

I'm not a sypcophant... I don't post for others to revere anything I say. I don't claim to be correct about everything I've said (willing to admit when wrong), but when it comes to "trading the markets concepts", I'm a bigger dog than you might imagine.
 
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Scataphagos said:
Oh Buckeroo... you poked a stick at one of Zadeh's BIG DOGS and didn't realize it.

I'm one of Zadeh's U.S. Investing Champions in 3 categories!... and more! (I finished in the "top 10" 3 other years... and if "things" had been slightly different, I might have had 3x 1st place, 1 2nd, and 1 3rd in a 5-year span.... and I've made $MILLIONS off of it!)

Accusing me of "not knowing what I'm talking about" is akin to telling Tiger Woods "you don't know 'nuthin about golf".
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Hahahah,
I knew that, and I was even going to say that to you earlier... that when you won those mutual fund trading competitions, don't tell me you weren't looking at the bigger picture of a company at least some.
 
vanzandt said:
Hahahah,
I knew that, and I was even going to say that to you earlier... that when you won those mutual fund trading competitions, don't tell me you weren't looking at the bigger picture of a company at least some.
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No. Absolutely not. I traded in the Mutual Funds divisions. Never even LOOKED at a "company anything"... 100% "Price TA"! Same as today.
 
You still don't know what the Fook you are talking about.. Top 3 guys in the stock division returning over 300 percent are all Canslim disciples..

I could never aspire to your lofty status.Ill have to come to grips with maxing out as Managing Director of Equity Derivatives at 2 major IB's..













Scataphagos said:
Oh Buckeroo... you poked a stick at one of Zadeh's BIG DOGS and didn't realize it.

I'm one of Zadeh's U.S. Investing Champions in 3 categories!... and more! (I finished in the "top 10", 3 other years... and if "things" had been slightly different, I might have had 3x 1st place, 1 2nd, and 1 3rd in a 5-year span.... and I've made $MILLIONS off of it! My performance DOMINATED Steve Shellins' "MoneyResearch Newsletter for 5 years! So... you got some cred worth challenging me?... let's see it!)

Accusing me of "not knowing what I'm talking about" is akin to telling Tiger Woods, "you don't know 'nuthin about golf".

I'm not a sypcophant... I don't post for others to revere anything I say. I don't claim to be correct about everything I've said (willing to admit when wrong), but when it comes to "trading the markets concepts", I'm a bigger dog than you might imagine.
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Scataphagos said:
ET is a forum for trading.

If you're a trader, why do you care about a financial statement? (You should be sharpening your TA skills.)

A financial statement would be a consideration for a long term play... but to be good at that kind of analysis requires LOTS of expertise, experience and resources. Trading requires no knowledge of the financial statement... though it too requires lots of expertise... but different.

"Trading" and "Investing" are like comparing apples and fruit salad. However the notion of a "long term investment objective is to be a good trader" is completely valid.
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Scat, I believe you are a great trader, lots of experience, sharp, but I disagree with many of your opinions.
It's a big wide world, trading & investing come in many different flavors, no one lives in a box and you're a tad too dogmatic imo.
Screenshot-2020-11-05-at-15811-pm.jpg
 
themickey said:
Scat, I believe you are a great trader, lots of experience, sharp, but I disagree with many of your opinions.
It's a big wide world, trading & investing come in many different flavors, no one lives in a box and you're a tad too dogmatic imo.
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The greatest sophistication is sometimes simplicity.

Years ago I started out with the notion, "I'll gather all the data and distill it down to the essence". My first real-time rig was a satellite dish in my back yard, an XT class PC with 2x floppy drives and 1x 13" CRT monitor... it cost $10,000 (which I figured was "worth it").

So after all this time... everything I know that is correct about trading (KISS, baby!) would fit on a 3x5 index card... (OK, fine print) assuming one is "up" on Technical Analysis. That's a lot so assume, of course.

IOW... lots/most approaches to the market that players are trying... from the retail screen jockey's point of view is either wrong or could be significantly better. (And yes, I know of CANSLIM. It's not as good as a better method, but it's simple enough to understand and easy enough to actually do... so it does have merit.... in a raging bull market, of course. :)) Trading well with Price TA is even more simple and lower risk for all markets.

I don't mean to be dogmatic, though it may seem like it when I often post, "you're doing it wrong". (You already know there's lots of wrong thinking out there and not all that much right.) Most of the time that comment is directed at something waaayyyy wrong... and I'm just trying to get someone off of the wrong track with the idea that he may find the right one.

Sorry if it seems like I come off as a "know it all". Actually I know only a little that is true. The rest is either somewhat wrong or waaaayyyy wrong.

I've considered that perhaps I should quit posting about trading and the markets altogether. (I'm sure some people are tired of me saying, "you're going about it the wrong way".) And though I've been willing to advise people "where to fish", I'm not got going to bait their hook and cast their line for them too. Then again... if I'm not willing to "wrap it all up with a shiny bow and hand it to them on a silver platter", perhaps I should just STFU?
 
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