Books 02 (Nov 08 - Nov 09)

Re: Books (Nov 08 - Oct 09)

Postby kennynah » Mon Oct 05, 2009 10:53 pm

do let us know if there's even a strand of new thoughts/concepts from robert kiyosaki in his latest publish
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Re: Books (Nov 08 - Oct 09)

Postby greenhoney » Wed Oct 07, 2009 10:39 am

has anyone here read the latest book by ron paul? i think its titled 'end the fed' or something.
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Re: Books (Nov 08 - Oct 09)

Postby kennynah » Fri Oct 09, 2009 4:13 pm

Title : "Getting Started in Commodities"
Author : george fontanills (the one who started optionetics)

500 pages of information about almost all tradeable commodities...and how FA and TA can be used meaningfully vis-a-vis commodities...
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Re: Books (Nov 08 - Oct 09)

Postby helios » Sun Oct 11, 2009 3:51 pm

kennynah wrote:do let us know if there's even a strand of new thoughts/concepts from robert kiyosaki in his latest publish


very insightful; mei mei is still digesting ...

he talks about the relationships between taxes, debt and inflation; the foundation for new rules of money ...
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Re: Books (Nov 08 - Oct 09)

Postby helios » Sun Oct 11, 2009 5:18 pm

page 8, chapter 2 - the conspiracy against our education:

the idea that money is not important is an obsolete idea
.

he defines this by classifying humans evolution through 4 basic societal ages.

- the Hunter-Gatherer Age;
- the Agrarian Age;
- the Industrial Age;
- the Information Age.
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Re: Books (Nov 08 - Oct 09)

Postby kennynah » Sun Oct 11, 2009 5:36 pm

i would be more intrigued if he suggests the coming of space or aquatic age...

- the Hunter-Gatherer Age;
- the Agrarian Age;
- the Industrial Age;
- the Information Age.


these 4 above.. are already well documented
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Re: Books (Nov 08 - Oct 09)

Postby millionairemind » Sun Oct 18, 2009 11:14 am

Just wrapped up on the book SUPER TRADER: MAKE CONSISTENT PROFITS IN GOOD AND BAD MARKETS by Van Tharp.

Dr. Tharp is a trading coach and a NLP practitioner. In this book, he does not offer any system like CANSLIM or sell koyok. He profiles Y traders win or lose and he nails it down to three components : Psychological Makeup, Trading System and Position Sizing, with the trading system being the least important and the psychological makeup of the trader the most important. (this I totally agree).

He goes into depth when talking about position sizing as a system looking at R-multiples (risk multiples) and risk/reward ratio. It offers fresh angles on how to look at risk/reward and how to size one's position accordingly.

I recommend this book if you got the time. It's available from NLB. Buying it off the shelf would set you back around $40.

Currently reading HOW TO SMELL A RAT: FIVE SIGNS OF FINANCIAL FRAUD by KEN Fisher.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Books (Nov 08 - Oct 09)

Postby lithium » Sun Oct 18, 2009 12:26 pm

hi millionaire!

How he size his position and calculate his risk and reward? Thanks a million. Hope you can reach billion soon. ;)
"Play Great Defence, not Great Offence "
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Re: Books (Nov 08 - Oct 09)

Postby millionairemind » Sun Oct 18, 2009 2:11 pm

lithium wrote:hi millionaire!

How he size his position and calculate his risk and reward? Thanks a million. Hope you can reach billion soon. ;)


Lithium san,

There are several position sizing articles in the book, its best to pick up that book from the library to have a better understanding.

A simple method is the P=C/R method
C = Cash and R is Risk.
Say you have a $30K portfolio and you want to risk only 2% of that, that will be $600. For a stock you are eyeing at $50, you have a risk of $5/share.

So your P = 600/5 = 120shares at $50/share.

R will be your risk you are willing to undertake. Typically it will be 1R in risk but your reward will need to be at least 2-3R to cater for the occassional (or frequent) losses.

I would not do the author justice if I only touch on the surface here, nor will I help you in any meaningful way if I don't provide the context of the position sizing and risk/reward multiples covered in the book.

The book is available from the library. :D

Cheers,
mm
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Re: Books (Nov 08 - Oct 09)

Postby lithium » Sun Oct 18, 2009 4:03 pm

its ok mm, i got what you mean already. I'm using the same method when i take a position. Thanks!
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