Wednesday, September 15, 2010

Stan Weinstein Book: Secrets for Profitting in Bull and Bear Markets

This book is a life changer. I just seem to love this book more than any investment book. Few readers comments on this book.
So I've spent about $5,000 on a course to learn how to trade. Tried out trading, it didn't work out the way I wanted it to. Then I ran into a guy online who suggested 7 or 8 books that every trader should have. This was one of them. I'm making my way through all the recommended books, but this one was fantastic! It suddenly seemed to fill in all the gaps in my knowledge from the course I had taken. It explained a comprehensive way to view the market (any market) that my $5,000 course never even touched on! Now I feel confident enough to re-enter the market, combining what I learned in the $5,000 course and this $20 (or so) book. Thank you, Mr. Weinstein.

I've had a few successes in trading, I called the short on STEC, RINO, FUQI before they collapsed in price, and I went long RINO and STEC when they were on their way up. I purchased Apple at 145, still holding onto it. All this while going to school and running a small side business and writing two novels and a screenplay. Several books that helped me--though not all of them that helped build my strategy of Growth-Value Trading,

Nicolas Darvas's three books, How I Made 2,000,000 Dollars in the Stock Market, Wall Street The Other Las Vegas, and You Can Still Make It In The Market.
Jesse Livermore: How To Trade Stocks
Gerald Loeb: The Battle For Investment Survival
Martwin Zweig: Winning on Wall Street
William O'Neil: How To Make Money In Stocks
And finally Van Tharp: Trade Your Way To Financial Freedom.

These books with a few more, helped me get 600 percent in 2009, and thanks to BP, 400 percent now.
 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.

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