I saw john neff's successful investment the other day, and I took over the secret of short-term trading on June 3rd. 165438. Because I am an investor who wants to invest with value, short-term trading is somewhat different from investment with the same value, especially the trend speculative short-term trading advocated by the author Larry Williams. It is under the guidance of Charles Munger's "Grille" theory that I have a little motivation to finish reading this book, because some ideas in this book really make it difficult for me to keep reading. The most important thing is that the concept of short-term trading is completely opposite to the concept of value investment.
The book mainly talks about some secrets of short-term trading, which left a deep impression on me: the explanations of long and short sides are mainly analyzed from the American line; Some management of funds; The transaction cannot be excessive; The only secret of trading is that it takes time. You can't get rich overnight, but in my opinion, the trading day is 2-5 days. The transaction used some technical analysis, which I knew before; And the American line saw a turning point.
Because investors with valuable investment ideas have natural antibodies to short-term trading speculation, especially this book advocates the view of efficient market, and the market is always right. This view may be good news for weekly traders or daily traders, but for value investors, it goes in one ear and out the other. Don't take it too seriously. Some ideas are not the value analysis of the company at all, but chasing up and down, and we must strictly stop the loss. I think it's genius to make money by trading.
But one thing worth learning is that you need patience, and sometimes you need a rest. Therefore, some chapters in this book are almost completed by leaps and bounds, and I intend to use my limited life and time to analyze enterprises without careful study, but I have marked these rough chapters and left them for later leisure time.