Here are some excerpts on "The Meaning of Focus" from a good blog.
"Personally I feel that there is no reason for me to divert my time on something I am not familiar with, while I am confident to survive and be one in the 5% group, and not in the 95% herd. I know that many investors/traders like foreign market, but for me, it is the same as far as gains are concerned, but the costs of trading in foreign market will be much higher. The learning process will be longer as it will involve also exchange rates."
"Focus simply means that I would not adopt a shotgun approach hoping that if I am wrong in 4 stocks, I can be right in right in 6 to make a gain. I would rather take the strategy to aim accurately to shoot at the target. In this respect, the rational analysis concept will surely help."
"Personally I am not afraid of sharks and market manipulators, as their activities can be shown in the volume and price actions, and this skill I have been learning for two months, and now I think I know how to spot the sharks to follow their tails. As for fraud and accounting irregularities, I will have no way to know, but a thorough fundamental analysis including looking at the management team, the Board board, the shareholders and financial data abnormalities will lesson this risk, but this is the risk that I cannot control. But should fraud and accounting irregularities detected, the chart will quickly tell me to exit with lower loss. Therefore knowing technical analysis would likely reduce any loss due to the resulting share price decline due to accounting fraud. That is why I have turned to a technician from a fundamentalist."
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