Parkinson's Generalized Law ~ “You will always get the lowest item of which you deem acceptable.”
Is this Law true to me?
So far it is a yes for my profit taking targets.
I have specified that my profit taking target for short-term trading is at least $500 or 3%. So far since Nov 08, I didn't get anything lower as it is deem not acceptable.
During last Friday regular monthly lunch meeting with two friends (actually it is my friend's friend who became very serious in doing short-term trading and long-term investing and not my friend) to talk on investing and trading.
She has expressed interested in applying for some DBS NCPS 4.7%; but I advised her to forget it if she aspires to be a successful active investor. She must know what exactly she really wants from the stock market and keep training her mind to focus on her investing goals while improving her method and money management. That is the way to go.
Read? 3 Ms of Trading – Mind, Method and Money - Part 3
I believe any successful ACTIVE investors or traders will doubt their abilities to make an average of 4.7% returns on their investment in their respective investing/trading time frame.
So remember Parkinson's Generalized Law ~ “You will always get the lowest item of which you deem acceptable.”
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