Summary
One of the best stock trading books published after 1960s. Reading the book in details and incorporating the best practices into your own game plan will significantly improve your ability to profit from the stock market. Highly recommended.
Book Information
Stan Weinstein’s Secrets For Profiting in Bull and Bear Markets
Written by Stan Weinstein
Rating
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Review
One of the rare books that define what good practice is with swing trading stocks. This book is a complete instruction manual / game plan covering the basics, the trading setups to look for, order placement details, all the way to other considerations and issues you may encounter. For those people who tried their hands on stock trading without a thorough game plan to start with, it is an eye opener that can change their fate from losing money to a profitable one.
The concept of treating bull and bear market differently, as mentioned in the book, is so important yet we seldom see other stock trading books even mention that. By thinking in the proper context, you will be able to adjust the way you handle your trades to improve performance with ease. The chart patterns discussed within this book is often repeated in newer books we see nowadays but without the clear construct of explaining how these patterns emerge.
This book can be disorgranized at times. Obvious issue often happens to authors whose first book is so long that it becomes overwhelming (speaking from personal experience). A quick reread on some chapters will likely resolve your puzzles on some points that you found difficult to understand.
Similar to other great trading books, it is useless if you just browse it and make a judgement on the content. You have to pull out charts yourself and follow the ideas in the book to learn the patterns and concepts by practice. Most people do not understand (or maybe they have forgotten) how important it is to learn by first-hand experience. It is especially true for chart reading so keep that in mind.
This is the book I would recommend everyone to read before putting in their first order to trade stocks.
