Feedback in:
Thank you. I have read all of your books and listened to your podcasts (which are excellent).
I spent 36 yrs in Institutional Equity Sales before I retired. I covered T Rowe, States of Ga, Tn, NJ, Blackrock, Goldman Sachs Asset,etc… All were very smart folks, as were my analysts. In the end, I felt like I spent most of my career telling people to buy a declining stock (defending our position), and explaining why other names were too expensive (as they climbed for another year).
As a salesman I had too many internal constraints to trade (i.e. mandatory holding periods, prior approvals, etc). I manage my own money now. I have tried many different styles— day trading, individual stocks—value and growth, William Oneil (CANSLIM , chart patterns, etc.). None work for me. Almost all of them require sitting at the desk looking at squiggles on the screen all day or doing large amounts of research on things I will never know as well as thousands of other people.
I have read almost every book written on investments (at least the ones everyone on TWTR talk about). Stan Weinstein’s (from the ’80’s) stuck with me. Use weekly moving averages (10 and 30) to determine the trend, approximate good entry points, and exit points when the trend ends. This made perfect sense to me, but the drawdowns were too much. So, I modified it to 10 and 30 d ema, and use Heiken–Ashi charts to smooth out the trends. This works best on ETF’s vs individual stocks. It works particularly well on the Q’s, and broader indexes. I backtested this by hand, going back to 2000. The strategy works. But, I am looking for other trend following strategies so I am not so reliant on one thing. Hence, my interest In you.
I have plunked down many thousands of dollars trying to learn other peoples methods. Its not lost money as I have incorporated bits and pieces into my way of thinking, but none have made me any serious money primarily because the other systems do not fit my personality. I think Trend Following makes the most sense to me. I am more deliberate now in “spending for help”. If I am completely convinced, I don’t mind spending the money. It takes me a while to get there.
Best,
[name]
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