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5 star review for a 5 star method
Posted by Samson Hedges on 6/1/2000
Reading this book will tell you a simple, effective way to trade on charts. No nonsense, no complex indicators, no sigma notation mathematical sequences, just basic, effective trading techniques.
It is for longer term trading, perhaps 3 months or more, depending on how long the stock trends upward. This is probably the best longer term trading method I have seen. It is so basic you may already know most of it (unless you are just starting), but this book puts chart reading into a simple, practical method that can be mastered. One of the problems I had with CANSLIM was when to sell. Reading this book will give what I consider a good answer on when to take profits. And, like the book says, go short.
I wouldn't say Weinstein's methods are "secrets," they are just 100% common sense, and very effective. CANSLIM investors may find this a very useful book on expanding charting knowledge.
It is one of my favorite trading/investing books.
A very effective methodology to trading or investing
Posted by testingagain on 1/23/2000
This book has completely changed by perspective on trading or investing (there's a difference). With either one, I believe you will find this book VERY helpful and practical (recognizing breakouts, when to buy, when to sell, cycles of a stock's life, market timing, shorting stocks, establishing safeguards, various order types, etc.).
The book has a heavy emphasis on analyzing charts. This is a major plus, but it's very practical, not numbingly theoretical.
Weinstein is often compared to O'Neil in (momentum) investment style, but I find Weinstein's book much more systematic and well organized than anything I've read by O'Neil. I own 8 books about investing. This is the best, and the only one I go back to continually.
Bottom line: my portfolio has grown 30% in two months using his methodology, and it's kept me from making a LOT of bad decisions.
Don't let the date influence you. Start reading, and you will think he published it this year.
Posted by Michael J. Likos on 11/25/1999
I have spent more that 1500 dollars on investing books. What a waste of time. If this were the first book I ever purchased I would not have needed to purchase another. This is the only investing book you will ever need, but you will need to subscribe to a decent charting service like tele-chart 2000 to get the full advantages of the book.
Posted by Anonymous on 3/3/1997
To anyone who wants to beat the market and improve their success rate by learning and using Technical Analysis this book is a gauranteed way to get started. Its written in simple terms, has excelent examples and offers advice based on time-proven methods. Compared to other similar tomes on this subject it uses no math or formulas but relies on actual charts of stocks. The method teaches how to view price, volume and trend data so that stock picks yield winners 60 to 80% of the time and with gains (for me) 2x to 10x! It also provides lessons on the how to cut losses and how to learn the discipline of selling for maximum profit. This is a book which can (and must) be reread over and over as one gains expertise at Technical Analysis. The methods learned provide logical procedures which eliminate the hype of the stock market and turns the hype into profits. Weinstein's motto of the "Tape Tells All" is the foundation for success because it places stock action as the primary source of information over OPINION.
The best trading manual ever.
Posted by Ruth Henriquez Lyon on 4/17/2000
This is the best book on trading techniques that I have ever read. It is based on how to do "stage analysis," that is, looking at charts to determine whether a stock is going up, topping, declining, or bottoming out. The author stresses using stage analysis not only on individual stocks, but also on industry sectors as well as indexes like the Dow and Nasdaq.
I cashed out of my stocks three weeks before the recent Dow and Nasdaq declines, simply because, as luck would have it, I had just finished studying the chapter on spotting market tops. All the signs that Weinstein laid out so neatly in that chapter were apparent--it was truly a textbook case.
Anyone doing trading should know the information in this book....it's very basic, as the author teaches the minimum you need to know for success. But it works, and the information is presented clearly in very readable, friendly prose.