Wise words, S MarketMap; NOT that some sectors have done any where near that good, medium term or long term.Wise words anyway.Some say 70%, 30%/+, you maybe right; of course in a 3 year bear like 2000-2001,2002 the polar bears did much better ...Good post
I hope that's sarcasm -- although ET is good...I kind of come here mainly for small talk and entertainment. Everything I learned was from my own -- take everything you read from random voices on the web with a grain of salt.
If I had to identify just one thing, I would say PATIENCE. We live in a world where we want everything to happen right now but for the way I trade, selling commodities options for premium, I have learned to be patient and allow time decay to do its magic.
i have a profit and loss sheet framed where i lost $3K in 1 week and another beside it where i made $10K in 1 week .Reminds me the close a losing trade and there will be big winners to make it up. Use to keep losers too long hoping to reverse, Its the 1st lesson we learn but hard to do is cut your loses early and let your profits run .
Full automation has been the most significant factor for me. Sometimes when I revew my system's automated trades, I realize that it would have taken me another 20 years to get to that level of detachment, cold calculation, and machine-like discipline, if I traded manually.
Great book...and great job...but have a plan in mind for the next bear market. The Graham method of stock picking will hold up well in comparison to other methods, but there will be losses if the market decline is severe enough. Just know if you will hold through it or have an exit plan...either way is more of a personal preference...just make sure you don't have to panic! Good luck!