William O'neil ''canslim'' method

inandlong · Mar 21, 2003

Quote from jack hershey:

In a two variable financial system there are few other factors that rank equally with quality and risk. The only other one is market.
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For the record, are there a few other factors, or only one? And if there is only one, ie., market, does that make it then a three variable financial system?

Much of what you say Jack is valuable information, and I appreciate your contributions. I am not sure why you found it necessary to make the disparaging remarks about people making money on ET, (paraphrased). If no one at ET is making any money, and you are at ET, then the logic follows that you are not making any money either.

I am looking forward to re-reading more thoroughly your posts on this thread. There seems to be a lot of very good information. Nothing new, but certainly validating. Thanks again for your efforts.

jack hershey · Mar 21, 2003

I parsed your comments below.

Summary.

The black and white thing seems to be contagious. An alternative way to process stuff is to approach this in a more differential manner. You might consider reasonably determining if there is a span between two points of knowledge that is relatively wide. Extrapolation is not the only consideration.

Some people here are stuck to the extent of even considering my name. As they expose their level of sophistication to get attention, it is a hoot.

Quote from inandlong:

For the record, are there a few other factors, or only one? And if there is only one, ie., market, does that make it then a three variable financial system?

****Yes, No. review Two major sources for this. The data supply and the maths scope of application. I am going to the place where the person is to allow him to manage the situation. I am trying to draw him away from the unessential and the fluff.

I**** did add another degree of variation to a simple system I recommend that you previously were familiar with. I may be mistaken but I think I am responsible for its origination. A very powerful tool within any character of market, is the indicator of control. A/D does this. The range of indicators on this are quite significant. BOP by worden Bross and WJO's A through E are broadly separated I modified Hayworth's VC from relativistic to absolute. Level II when it exists for a market is the most exating.

****The thing that is apparent to me mostly is the fundamental frequency of each of these three variables. Thier ranking, in terms of importance has a direct correspondence to their fundamental frequency or periodicity.

Much of what you say Jack is valuable information, and I appreciate your contributions. I am not sure why you found it necessary to make the disparaging remarks about people making money on ET, (paraphrased).

****It is common for people to put themsleves in the position you are in with regard to this. Those that get my point think this way onthe other hand. There is a simple truism about investing.

You have to do it right from the beginning to be able to continue to do it.

as a corrolary I feel it is also true that you cannot claim competence at any level if you have not attained various degrees of success. Reread as you intend what I have written here. See if you get to the place where you understand the markers I set for this. They are based on the experience of others I have watched. Often they are not met. The primary cause is a group effect. When it is one on one the pace of capital appreciation is higher. This is directly related to my ability to jockey my emphasis to meet the necessity to go to where the people are operating as a starting point to conduct them to a better place of performance.

Google my contributions in organic farming vis a vis the repair and maintenace of soil. See the cardinal elements of what is required to grow something. Or take a short cut to the sower story. Only one out of for approaches worked there. Here in ET it will turn out to be the usual 1 out of 5. Outside of people there are things to consider. It is not the person only. Obviously you see why people fail here. Their need for attention is an intresting facet of this place. Some actually never contribute but only make noise. Others just crap on themsleves by carping about their inability to whatever. Critiques abound to demonstrate the foundations people have here for entering into dialogue. At the other end people expose themselves as a tradeoff to gain more of what they need but may not be able to define.

****Look at the recurring example of the money thing. I set simple plateaux of expertese described by cummulative profit. I suggest tat people withdrawintiial capital as a way to instill an attitude with respect to success and eliminating the posibility of failure.

If no one at ET is making any money, and you are at ET, then the logic follows that you are not making any money either.

****Look at yourself. Being silly is fun. this is like the theme here called: "he changes the rules all the time"

** It will always turn out that the black and white types stay in this place. I suggest that I need to go to where people are. I suggest that it is extremely important to continue to succeed on an inital level. I use fast paced trades that have dynamite signals. I am winnowing people out so I do not have any knowheads on my case. The consequence is a true and illuminating setting, I find out better where people are. some are iteratively refining what they do. Others cannot handle the risk of beginning at this level. I have short list of names of people in these kinds of categories. I log the 18 common mistakes people make from chapter 20 of HTMMIS. I get to focus on the way to conduct myself when I have time.

** I see a person who has a carry over characteristic. some guys can slalom potentially. so i set up a buddy group to shoot off a post to them. Another guy, Wally, I tried through Barron to make contact in a way to shoot him a lot of software. In one delightful example I saw that the first DU on the trend start up was triggering exits for a person. I actually worked through three support mechanisms to fix this anomoly for the person and as it turned out others. It got to resetting point 3 even. All this slows down things and the money yield goes way up. The bob and cathy person is bi polar to me. She is bouncing off a variety of walls usually and according to her attention getting committment of the day.

***So I regard your missunderstanding on money to be incompatible with your postition that there's nothing new in what I say to ET. You can't have it both ways.

I am looking forward to re-reading more thoroughly your posts on this thread. There seems to be a lot of very good information. Nothing new, but certainly validating. Thanks again for your efforts.

****There are three time periods to consider: two days, two weeks and six months. I don't think what I do has much chance of validating stuff; it's all old. And most important I don't do anything new. Things haven't changed much since about being three years into it. Making money seems to work the same old ways. there is a difference between pencilling your own charts until things are invented to do it for you, but thats not anything new either. By delving into stuff thousands of times it gets familiar.

****I always like to clip the creosote at max and do a hammer head set at sunset just cause I like the range of sounds but nothing is new about that.

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ShoeshineBoy · Mar 21, 2003

Gotta say thanks for the ideas. I think I've got some fantastic setups now using the basic ideas that you gave in some of your posts.

I know you're not much on backtesting, but I can't help myself. Over the next week I'll be backtesting the crap out of these to try to discern strengths and weaknesses. And after that I'll then try them on an IBD-style universe similar to what you espoused and compare.

ShoeshineBoy · Mar 21, 2003

I've got to say, though, that I think I'm going to use WJO's site. I just don't understand stocktables.com . It is either using old data or is using some kind of unexplained criterion. Either way, I'd rather go with what I know and understand.

jack hershey · Mar 22, 2003

Quote from ShoeshineBoy:

Gotta say thanks for the ideas. I think I've got some fantastic setups now using the basic ideas that you gave in some of your posts.

I know you're not much on backtesting, but I can't help myself. Over the next week I'll be backtesting the crap out of these to try to discern strengths and weaknesses. And after that I'll then try them on an IBD-style universe similar to what you espoused and compare.
More...

when you baacktest be sure to look at the difference betweem arithmatic and exponantial stuff. run some stats on whther there are stat sig diffs as well.

If you do any iterative rfinements like starting with no discretion and then looking at discretionary branch points alway do stat sig diffs too to find out how much the time you spend is costing you.

From one end to the other I have experienced about 8 plateaux for a person who is underway and making money of some sort.

Each one seems to contribute the same impact and order is not significant. I've posted the plateaux list and the impact stuff previously.

inandlong · Mar 23, 2003

Quote from ShoeshineBoy:

I've got to say, though, that I think I'm going to use WJO's site. I just don't understand stocktables.com . It is either using old data or is using some kind of unexplained criterion. Either way, I'd rather go with what I know and understand.
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Stocktables.com is better understood if you have the PitBull version of CANSLIM.

Haroki · Mar 23, 2003

Holy cow!! As a non trader, but someone who has an increasing interest in the markets, i've found this thread both draining and very imformative. I HAVE read the book and at the time, it made loads of sense to me, but I didn't quite know why. I also recognized it for the intermediate term strategy that it is, and knew that it wasn't what i was looking for.

Jack has made the connection for me. he takes the logical avenue of taking truly strong stocks and trtading them at what he calls the natural cycle. EXACTLY what i was looking for.

I've always felt unconvinced when it came to all these methods that tried to predict movements but ignored the basic weakness or strength of a certain company. It seemed to me that all these other methods recognize the band wagon after it has already left and attempt to get you on it before it peters out.

Overall, I would say I've had quite an epiphany about a way to work the market that I feel comfortable with and would like to thank Jack for his paitence and Shoeshineboy for his excellent questions.

ShoeshineBoy · Mar 23, 2003

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when you baacktest be sure to look at the difference betweem arithmatic and exponantial stuff. run some stats on whther there are stat sig diffs as well.
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I assume that you're saying carefully check out pts/day (in my
case) and trds/day as well since it will effect results
exponentially.

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If you do any iterative rfinements like starting with no discretion and then looking at discretionary branch points alway do stat sig diffs too to find out how much the time you spend is costing you.
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I've got a VBA program that I can refine that will do what I think
you're talking about, i.e. prune out repetitious branches.

Let me know if I'm missing a major point.

ShoeshineBoy · Mar 23, 2003

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Stocktables.com is better understood if you have the PitBull version of CANSLIM.
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Can you explain (from a 30,000 foot level) what is the PitBull version, i.e. how is it different from WJO's CANSLIM? Where
are its strenghts/weaknesses? I thought this was Henry
Ford's site? If so, why would he mess with a trading
technique?

ShoeshineBoy · Mar 23, 2003

And I see from your previous post that he is not THE Henry Ford. But I still would like to know what Pitbull specializes in and how it's different from regular CANSLIM. I don't see much on their site.