What do you think of this strategy? no stop, 3% profit goal...


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I've traded before, lost money... Been deciding if I go back to the stock market but mainly for long term value investing when an obscure book called my attention: the Stock Market Outsider

its strategy is basically:

- Find companies with great fundamentals (if the stock goes down you wouldn't mind holding it indefinitely)

- Wait until a company opens negative (the more negative the better)

- Allocate at max 10% on each stock.

- Buy, then place a sell order with 3% (+costs) profit goal

- Wait indefinitely until profit target is reached.

- rinse and repeat, and reinvest your profits every time.

As crazy as it sounds, it does make a bit of sense. What do you think?

Many thanks.
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