Fly Fishing the Stock Market: How to Search for, Catch, and Net the Market's Best Trades

Conclusion

The title of this book, Fly Fishing the Stock Market, implies that there exist two parties: the hunter (fly fisherman) and the hunted (fish). The hunter lures his prey into a snare, then allows it to attempt escape before reeling it back to the capture zone, where careful revival and release occur. This sport is similar to the “game” that we call trading, scored through the changing value of equities held by the weak and exchanged to the strong. This is a game played in an environment where the “fittest” dominate.

In today's markets, traders must be at the top of their game to not only thrive but also survive. They must have rhyme and reason in their analysis and execution of their trade plans. It is not enough to buy and hold until you grow old. This market demands more than that to be successful. A carefully developed methodology, combined with rational decision-making and good money management, in harmony with the rhythmic swings of the market seasons, will garner a predominance of successful trades. Furthermore, an active journal that records this journey becomes a matrix within which details of success and failure assist in formulating tomorrow's script for even more progress. Without such a degree of focused review, we will not learn from past mistakes, and hence will be destined to repeat them.

In today's market environment, it seems that most traders are on a quest for a system, a holy grail of trading or a “black box” trading system that works 24/7, informing ...