Forum Archive Index - July 2001

["Grant Keymer" <grant@jenlogix.co.nz>]

Hi Stephen,

 

It's good to hear a fresh viewpoint on this charting thing...

Here's my 2 cents worth in response to yours  :)

 

When you combine this "sacrifice", for want of a better word, with brokerage, the chartist needs to be right better than 50% of the time or else he is merely the brokers friend.

 

Why do you and Snoopy get so hung up on this brokerage thing?

If you buy and sell $5k, $10k or more of shares per trade, what is $30?

 

who are prepared to put up with the mundane record keeping that the Tax Department requires.

 

Again, you have borrowed Snoopy's line here.

All that is necessary is to keep the Contract Notes from your broker.

The Transaction Statements from the various registries are useful too, as corroboration.

These two documents provide proof of what you paid for the shares, how long you held them, and what you sold them for.  What more information could the IRD possibly need?

What is so difficult about retaining Contract Notes and Transaction Statements?

It's called a manilla folder!

What is so "mundane" about it?

 

So it is boring old buy and hold for me, although next time I choose a share I may consider looking at the various moving averages to time my purchase.

 

OK, we mostly agree on this one.

A large proportion of my portfolio is buy-and-hold too, but even there, charts are certainly useful for timing the purchases.

 

When I go for a walk in the country, I might not see the wood for the trees but at least I don't see uptrends and downtrends in the contours of the hills. To me, this charting thing looks like it would be all too stressfull!

 

Yep, I agree with you here too.

I don't want to be glued to a computer screen all day.

Last year I went to Rarotonga for 3 weeks during winter for a truly blissful holiday somewhere warm.

When I came back, my portfolio had dropped in value by over $10k.

C'est la vie.  Money isn't everything.

You win some, you lose some.

 

Keep the comments coming Stephen.

Like I said -- it's good to hear from new contributors.

 

Cheers

 
Grant Keymer
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