Top positive review
5.0 out of 5 starsHTMMIS - Trading with the King's Insights
Reviewed in the United States on January 16, 2011
HOW TO MAKE MONEY IN STOCKS by William J. O'Neil
This GOLDMINE SHOULD BE REQUIRED READING IN HIGHSCHOOL/COLLEGE FINANCE COURSES!
I've wasted a great amount of time, money, patience, willpower, motivation before I WISELY took the time to read this book, last year. [I only wish I had of discovered this before I found all the other books I've spent too much money for. Some are over $100 and are worth 1/10 what this $29.95 is worth. If studied, this book is worth untold wealth]
In 07 I quit driving to give TRADING EDUCATION A TRY FOR 6 months full time, after having lost 80% in the 2000 bear due to two unwise advisors who disagreed with my perception to get out. After nearly 4 years I'm still going, although working part-time in summers.
Since 07, I've spent appx $20k on education? and got a smashed egg kind of an education.
Like splat from 20 stories. I understand nearly every basic thing, except how, when, where, which, who, whys of stock selection, THE FOUNDATIONS of ALL SUCCESSFUL TRADING.
In total, I'm around 6-7,000 hours into this and "was" feeling discouraged, frustrated, deceived, cheated, ripped off, and several other colorful adjectives and adverbs.
Appx 2.5 years ago, while browsing the internet, I stumbled onto something about IBD and attempted to get some free info. Within a short few days or hours, some sharp young man at IBD called and I subscribed to the paper, (same one I had purchased 20-30 times while driving over the road. I knew it seemed 10x more potent than WSJ from 3-4 years subscribing to WSJ in the 80s. But I didn't have any idea what I could have done with it till I finally read "How to Make Money in Stocks". WOW Everything that I ever wanted to know that hadn't already been answered is in there.
EPS + SALES + ROE + RS[to S&P500], = The STAR FUNDAMENTALS + the STAR TECHNICALS WISELY BLENDED TOGETHER, like they should have always been (an are by the most successful investors) Cup W/Handles, Consolidations, Ideal behaviors, and at least a dozen other "GRANDFATHERLY + MASTERFUL" insights are shared. If you understand anything about the stock market, this book will get you saying "FINALLY, SOMEONE SAID IT IN A WAY I CAN UNDERATAND IT". +MASTERFULLY CRAFTED IBD 50 CHARTS, SORTED LISTS IN SECTORS, BIG MOVERS, NEWS MOVERS, ETC.
+ THIS IS THE ONLY BOOK THAT LAYS IT OUT CLEARLY, EFFECTIVELY, COMPLETELY, WITHOUT HOLDING OUT CRITICAL ELEMENTS!
Mr. O'Neil's "C A N S L I M" system, like he repeats often isn't just his, it's what he found that GREAT STOCKS "ALWAYS" DEMONSTRATE, HE IS ONLY THE "GENIUS" THAT TOOK THE TIME AND TROUBLE TO DISCOVER IT!
The book is loaded with 100+ MODEL STOCK CHARTS(with important notes), and he explains very adequately, that you don't need any more DISTRACTIONS to trading, it's already challenging enough on it's own.
85-99% of traders loose their profits during challenging times. After deeper reading in the later chapters everyone should discover some of the evidence as to why this is so.
Futhermore, you should also find several reasons to manage your own money and not trust some money manager with all of it, maybe some, but never all, they're motivations can never be the same as yours! Few, very few have the constitution or self-discipline to keep your interests in their "fiduciary responsibility" scopes.
To sum up; If you CHOOSE TO WASTE YOUR TIME, LIKE I DID, GOOD LUCK ON MAKING IT THROUGH THE MAZES OF DISTRACTIONS, RIP-OFFS, POOR TEACHERS, ON THE WRONG TRACK TEACHERS ETC.
IF YOU DON'T START WITH THIS BOOK, THERE'S PROBABLY ONLY A 50% OR LESS CHANCE YOU'LL EVERY LEARN ENOUGH TO BECOME SUCCESSFUL AT MANAGING YOUR OWN MONEY. You have to have the patience to spend 500-1000 hours studying this until you're no longer curious about how to verify what you see on the charts(Stocks and Indexes). Mr. O'Neil will help you realize how to track the markets and the best stocks, he's done it for decades now.
DO NOT PASS UP THIS BOOK, IT'S THE ONLY FOUNDATIONAL WORK OF IT'S KIND + it's SIGNIFICANTLY LESS EXPENSIVE than the ALTERNATIVES + THIS IS THE MODEL all other seek to copy!!! By the time you wade through all the other crap, you may not have to patience, time, resources, willingness or motivations needed to try again! THIS BOOK WILL SAVE YOU COUNTLESS HOURS OF FRUSTRATION, and you can have it mastered in as little as 3-500 hours of study, and you'll understand charts as well as many successful traders. Then consider all the other superlative educational tools at IBD. [...] IBD-50 lists published every Friday after the close is a gift to people wanting to learn to trade successfully! Pass it by at your on peril! The majority of the most successful institutions watch it carefully! As you'll discover after tracking it for a while.
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