Jack Carters Book "Profit Rich Stock Trades" Review

[Phoenix7]

I guessed that his trend points were MAs but wasn’t sure whether he use EMA or SMA, also wasn’t sure which ones he used. My guess would have been 8, 21 and 55.

DEAD a friend of mine told me he uses 20, 50 and 200 DAY EMA ......that is Exponential moving averages because it has a tendency to "smooth" out lines!

[Deaddog]

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[em26jamie]

You got a $1000 to make for in 2 days, Dog.

[Phoenix7]

Dead dog?

Dead Dog as you know I have been experimenting with various systems to see which one can make money for those at Mr Market.
Napolian Hill in his book "Think And Grow Rich" used what he called "the Mastermind Principle" , and basically it was a group of minds working together to find solutions to problems.
Yes I do favor parts of Jack's Profit Rich stock system , mainly selecting momentum stocks , but I am experimenting with several different possibilities.
One of course is to plug stocks into the 8/5 criteria which is being used to monitor my stocks, the other would be to run a Mr Market Type , no stop loss, type system.
I would propose using 4 stocks , each place into a separate account or letter designation.....A>B>C>D>.
Each would start with $2500 for a total of 10K.
WE would use the opening price as the start for each stock.
A 5% SELL LIMIT would be place on each stock, and NO STOPS WOULD BE USED!
Here are my 4 picks to start.
A FTK $2500
B NVLS $2500
C RRR $2500
D VPHM $2500

Let us suppose FTK hits its 5% mark or $2625 , then BANG that stock is out to be replaced with another A stock to be activated next day with the $2625! So what we have here is a COMPOUNDING effect.

B,C and D would continue until their respective 5%s were reached , and they would undergo the same compounding effect as above.


Waiting for 8% is OK , but I feel this METHOD. will achieve BETTER RESULTS.

DEAD your expertise in setting this up would be deeply appreciated . I am trying to find out which would work better the 8/5 system or the NO STOP only 5% UP SYSTEM?
The System Would be called "The Profit Blaster Stock System"

Phoenix 7

[Deaddog]

I am trying to find out which would work better the 8/5 system or the NO STOP only 5% UP SYSTEM?
The System Would be called "The Profit Blaster Stock System"

Phoenix 7

Paper trade each system for 40 to 50 trades.

Pheonix: Have you read the Market wizard books by Jack Schwager? Interviews with great traders. Although everyone has a different methodology there are some common traits they all share. The most common one is to cut loses short and let the winners ride.

The “Profit Blaster Stock System" flies in the face of this proven wisdom. If you don’t have a method of getting out of a losing trade you will eventually end up with 4 losing stocks in your portfolio. I don’t care how good you are at picking stocks, sooner or later the market will conspire against you and you’ll have one that goes down and stays down.

You seem to want to deal in percentages. Might I suggest putting a trailing stop on your picks. That way you always protect your capital. The runaways make you big bucks and the losers get removed from your portfolio. You’ll make most your money on a few trades and protect yourself from big losses.

If you think that if you don’t sell you won’t have a loss, the market might close your position for you. When companies drop to a point that they represent good value they are subject to buyouts and takeovers. And then there is bankruptcy to consider or a reverse split. How long are you willing to tie up your capital while you wait and hope.

[Phoenix7]

Dead true true

Paper trade each system for 40 to 50 trades.

Pheonix: Have you read the Market wizard books by Jack Schwager? Interviews with great traders. Although everyone has a different methodology there are some common traits they all share. The most common one is to cut loses short and let the winners ride.

The “Profit Blaster Stock System" flies in the face of this proven wisdom. If you don’t have a method of getting out of a losing trade you will eventually end up with 4 losing stocks in your portfolio. I don’t care how good you are at picking stocks, sooner or later the market will conspire against you and you’ll have one that goes down and stays down.

You seem to want to deal in percentages. Might I suggest putting a trailing stop on your picks. That way you always protect your capital. The runaways make you big bucks and the losers get removed from your portfolio. You’ll make most your money on a few trades and protect yourself from big losses.

If you think that if you don’t sell you won’t have a loss, the market might close your position for you. When companies drop to a point that they represent good value they are subject to buyouts and takeovers. And then there is bankruptcy to consider or a reverse split. How long are you willing to tie up your capital while you wait and hope.

Apparently Mr Market flies in the face of convential wisdom, but he is quite successful. I am a maverick, but not crazy, as NO ONE wishes to lose money.
I am currently investigating a system with 45 straight wins and NO LOSSES over 2 yr period using a similar 5% gain system. The only difference is that they play only ONE stock at a time !
I feel that 4 would even give better returns and more insurance on any possible downsides!

[Deaddog]

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[Deaddog]

Apparently Mr Market flies in the face of convential wisdom, but he is quite successful.

You have to define successful for me. Mr Market has 34 winners in a row.

But what we don’t know is what his return on investment is. I have asked and he won’t tell us. What I can tell you is that if he invests an equal amount in each position, the returns are pretty dismal.

As I’ve said before my objective is not to have an unbroken string of winning picks but to put money in my bank account. I know I can’t be right all the time so I just take my loss and move on.

Instead of just posting your picks, why don’t you post a record of how your picks work out?

[Deaddog]

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[Deaddog]

Pheonix Wins:

Poor Old Dog Loses:

Is The Jack Carter Method a screaming success? Only time will tell.

[Phoenix7]

Dead both winners

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Dead we are both winners .......because both of us have learned something.
That is why I like Mr market , because here we can have a free and open exchange of ideas.

[Deaddog]

Dead we are both winners .......because both of us have learned something.
That is why I like Mr market , because here we can have a free and open exchange of ideas.

I’m not sure I learned anything, but then it’s hard to teach an old dog new tricks.

Still some holes in Jacks method that I’m not sure of. Like what do you do after 2 to 10 days if the stock hasn’t hit one of your exits?