The results above are based on pure buy and hold which I don’t advocate. By incorporating sell rules, the larger losses would have been cut at no more than 3%-10%, bringing the average total gain closer to 30%-35%. Other techniques such as pyramiding winners along with cutting losers would bring the returns closer to 40% . The education part is minimizing losses and maximizing the winners. The buy and hold results are for observational purposes only. Hope that helps clarify.

“On can gain similar result by putting them into market. Do we really need education for investment?”

Can you comment on this statement?

I’ll leave you with some Jesse Livermore quotes:

“Obviously the thing to do was to be bullish in a bull market and bearish in a bear market.

I never try to predict or anticipate. I only try to react to what the market is telling me by its behavior.

Obviously the thing to do was to be bullish in a bull market and bearish in a bear market.

There is only one side of the market and it is not the bull side or the bear side, but the right side.

A man must study general conditions, to seize them so as to be able to anticipate probabilities.

It always pays a man to be right at the right time.

Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.

Successful traders always follow the line of least resistance. Follow the trend. The trend is your friend.

A prudent speculator never argues with the tape.”