How To Make Money In The Stock Market Book - Do You Make These Mistakes on the Stock Market?
Every time someone asks me for recommendations on how to make money on the stock market I instantaneously ask if they have read How to Make Money in Stocks by William O'Neil.
By: Trading Expert
Every time someone asks me for recommendations on how to make money on the stock market I instantaneously ask if they have read How to Make Money in Stocks by William O'Neil. Personally I think, that if you only read one book on the stock market, this should be the one. This book made me change my entire attitude to buying and selling stocks. Prior to reading it, I had no clue on how to analyze stock charts or for that matter what to seek out in a company's basics. William O'Neil instructs in that and a great deal more in his book.
O'Neil begins with an clarification of his very own CANSLIM methodology. To cut a long story short CANSLIM is the outcome of the studies of the greatest winning stocks in the stock market history done by O'Neil. CANSLIM is of course an acronym, with each of the letters representing the seven unique identifiers that O'Neil found all big winning stocks shared. Get Internet #1 - How To Make Money In The Stock Market Book @ http://tradingcure01.webs.com and be Successful forever!
As O'Neil explains the various elements of CANSLIM, he tears apart much of we know as wise investing advice. Perhaps this is best illustrated by the 'N' in CANSLIM, which means 'new products, new management, and new highs'. Especially the 'new high' element is what most people are surprised of - certainly I was.
Which investor havn't heard "buy low, sell high", and we have all been convinced that we should for the "bargains" in the market. Not so, argues O'Neil, as his studies shows that buying stocks just when they hit "new highs" is a much more superior strategy for finding the big stock winners. In O'Neil's words: "buy high and sell even higher".
Here are some of the other great advice O'Neil offers in his book:
* Keep your best performing stocks the longest and your worst performers shortest. Put in another way; take your loss as quickly as possible and your wins as slowly as possible.
* Limit your losses in order to protect your funds.
* Consider each and every stock as being speculative.
* Always average up - never down.
* Lots of clues to be on the lookout for in determining when to sell.
* Healthy guidelines on how to create a portfolio that suits your needs and abilities.
* How to read and interpret chart volume and patterns.
* Overhead supply - and this affects you.
* The impact of psychology on the stock market.
The book really covers all aspects of how to make money buying and selling stock, and it offer a first-rate groundwork when making an investment plan. In my opinion it's an excellent primer for beginner investors and also for the more skilled investors who perhaps not have been previously heard about the ideas and concepts presented in the book. Whether or not you decide to use CANSLIM as your investing scheme, this book is well worth reading. Get Internet #1 - How To Make Money In The Stock Market Book @ http://tradingcure01.webs.com and be Successful forever!
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