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The Intelligent Trader's - Long and Short of It
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From: Robert A. Christy Editor/Publisher, ‘The Intelligent Trader’ http://www.intelligent-trader.com http://www.christyinvestments.com
Date: October 22, 2008
Today, I want to talk about investment philosophy. It’s hard to fathom but there are folks out there who actually venture out into the investment arena without a clue as to what they want to accomplish.
Investment Philosophy
An investment philosophy is nothing more than a set of principles or strategies that guide you. Everyone has an investment philosophy because not having one is actually a philosophy.
As baseball great Yogi Berra once said "You've got to be very careful if you don't know where you are going because you might not get there."
It is important to look at how you want to make your money and most times, your investment philosophy falls into these main categories: growth, income, value, fundamental, technical, and contrarian.
The key to all of this is that you must understand who you are. What are your strengths and weaknesses? What do you want to accomplish by becoming an investor? What is your time horizon? At what point do you become uncomfortable?
What I’ve learned is this:
1. Successful investors have an investment philosophy that has been carefully thought out and it is in writing. 2. What works best for one person most likely won't work for someone else. 3. Successful investors have the discipline to stick to their guns when every fiber in their body is telling them something different. 4. There is no such thing as a “sure thing”. 5. “Hope and pray” is not an investment philosophy. 6. Successful investors have struck a successful balance between eating well and sleeping well.
My Personal Investment Philosophy · I am conservative but NOT conventional · I am patient AND opportunistic at the same time · I believe that capital preservation does not need to be sacrificed in order to achieve capital appreciation goals that I have set for myself. · I believe that the driving force behind all stock price movement is the simple economic relationship that exists between supply and demand · I am always looking for investments that are fundamentally sound and want to only invest when their technical picture is positive · I adhere to a strict buy/sell discipline · I am willing to hold cash reserves when the situation dictates · I am a TRADER not an investor · I am a POSITION TRADER not a day trader or scalper · My ultimate goal is to trade well NOT trade often · I would rather take a small loss on a perfectly executed trade than to book a large profit on a trade where I have violated my rules.
That’s about it for now. Let me here from you if you have any questions.
Robert Christy
P.S. Are you interested in trading along side me? There are 2 ways to do so. The first way is through my stock trading service, The Intelligent Trader. For just $249 you get a front row seat and the chance to get up close and personal with the market. Just click to learn more. The other way is through my dynamic forex trading service. If you have an interest in trading and/or learning about forex, just drop me a note. I am in the process of finalizing a new mentoring service geared to just trading the forex markets. In your email, please let me know when would the best time to get in touch with you.
P.S.S. Please fee free to forward this to your peers, friends and associates you think would benefit from its contents. They will thank you for it - and so will I!
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Robert Christy is a professional stock/currency trader, money manager, author and speaker. Mr. Christy is the President CEO of Christy Investment Group, Ltd., a registered investment advisory firm. He is also the Managing Partner and Portfolio Manager of Crabapple Capital Group, LLC and the editor/publisher of The Intelligent Trader, a subscription based long/short trading service. At the time of publication, Mr. Christy may from time to time write about stocks in which he, Christy Investment Group Ltd, Crabapple Capital Group, LLC or The Intelligent Trader has a position. In such cases, appropriate disclosure is made. Under no circumstances does the information in this column represent a specific recommendation to buy or sell stocks. Mr. Christy appreciates your feedback and invites you to send it to rac@intelligent-trader.com .
Robert Christy The Intelligent Trader c/o The Christy Investment Group P.O. Box 625 Alpharetta, GA 30009-0625
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© Copyright 2008 Robert A. Christy
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