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Secrets pour gagner en bourse: À la hausse et à la baisse
«Etes-vous prêts à vous défaire de vos préjugés? Écoutez alors Stan Weinstein, l'un des gourous financiers américains les plus réputés. Finie l'analyse financière. Place à l'analyse technique. Prenant le lecteur par la main d'un bout à l'autre de l'ouvrage, Stan Weinstein dévoile une méthode simple, à la portée de tous les investisseurs. Il s'agit de se constituer une batterie d'indicateurs qui vont dessiner l'évolution immédiate des cours. Avec un pourcentage de réussite meilleur que la moyenne : impossible d'être systématiquement dans le bon sens, plus d'une fois sur deux suffit.
343 pages, Paperback
First published January 1, 1988
158 people are currently reading
2608 people want to read
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March 15, 2020
First published in 1988, analysis in this book is still valid in 2020.
Reading through this book I noticed a Stage 4 formation in my country's market index. Investments were also nearing their sell-stops. I sold my investments that day pocketing all profits. This happened just days before the epic market crashes all around the world due to the Corona Virus Outbreak. Principles in this book saved me tons of capital.
On the negative side, this book is a pleonasm.
Reading through this book I noticed a Stage 4 formation in my country's market index. Investments were also nearing their sell-stops. I sold my investments that day pocketing all profits. This happened just days before the epic market crashes all around the world due to the Corona Virus Outbreak. Principles in this book saved me tons of capital.
On the negative side, this book is a pleonasm.
November 9, 2013
Below are key excerpts from the book that I found particularly insightful:
1- "After having mad plenty of mistakes, I've learned how to decipher the very obvious clues that the market gives us and then tactically respond to a given situation. I'm going to teach you a new set of stock market rules that will make the market much less stressful and far more profitable for you. These rules won't have you pouring over balance sheets or listening to some company spokesman drone on about his firm's progress toward higher returns on shareholders' equity. These rules will require that you do two things: control your own greed and fear, and find and decipher the obvious clues that the market tosses your way."
2- "Therefore, your philosophy should be simple: 1. Never buy or sell a stock without checking the chart. 2. Never buy a stock when good news comes out, especially y if the chart shows a significant advance prior to the news release. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 3. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 4. Never buy a stock in a downtrend on the chart (I'll soon show you specifically how to define a downtrend). 5. Never hold a stock that is in a downtrend no matter how low the price/earnings ratio. Many weeks later and several points lower, you'll find out why the stock was going down. 6. Always be consistent. If you find that you're sometimes buying. sometimes selling in practically identical situations, then there is something terribly wrong with your discipline."
3- "Any stock has to be in one of four market stages, and the trick to be able to identify each one. The four stages of a major cycle. as illustrated in Chart 2-1 are: (1) The basing area, (2) the advancing stage, (3) the top area, and (4) the declining stage."
4- "There is never an investment—whether it be stocks gold, real estate, gems, or Naugahyde futures—that is a "buy it and forget it" situation. All investments go through cycles, and When you hold through the down part of the cycle (Stage 4) you suffer both financially and emotionally."
5- "After years of observing and studying market cycles, there is absolutely no doubt in my mind that sector analysis is just as important as overall market timing. In fact, in certain markets it is even more important."
6- "There definitely is! While no system will ever be a perfect forecaster of the future, we can learn some simple rules that will put the probabilities of success strongly in a our favor...THE LESS RESISTANCE THE BETTER...THE IMPORTANCE OF VOLUME..never trust a breakout that isn't accompanied by a significant increase in volume...IT'S ALL RELATIVE The next important factor to check out when narrowing down our list of potential buys is the relative strength (RS). This is a measure of how a stock is acting in relation to the overall market...If the relative strength is n good shape and improving and all other criteria are positive, then go for it. But absolutely never buy a stock, no matter how good the other factors, if the relative strength is in negative territory and it remains in poor shape."
7- "QUICK REFERENCE GUIDE ON BUYING...Check the major trend of the overall market. • Uncover the few groups that look best technically. Make a list of those stocks in the favorable groups that have bullish patterns but are now in trading ranges. Write down the price that each would need to break out. • iNarrow down the list. Discard those that have overhead resistance nearby. Narrow the list further by checking relative strength. Put in your buy-stop orders for half of your position for those few stocks that meet our buying criteria. Use buy-stop orders on a good-'til-canceled (GTC) basis. If volume is favorable on the breakout and contracts on the decline, buy your other half position on a pullback toward the initial breakout. If the volume pattern is negative (not high enough on breakout), sell the stock on the first rally. If it fails to rally and falls back below the breakout point, immediately dump it."
8- "STAN'S DON'T COMMANDMENTS...Don't buy when the overall market trend is bearish. * Don't buy a stock in a negative group. Don't buy a stock below its 30-week MA. Don't buy a stock that has a declining 30-week MA (even if the stock is above the MA). • No matter how bullish a stock is, don't buy it too late in an advance, when it is far above the ideal entry point. • Don't buy a stock that has poor volume characteristics on the breakout. If you bought it because you had a buy-stop order in, sell it quickly. Don't buy a stock showing poor relative strength. •Don't buy a stock that has heavy nearby overhead resistance. • Don't guess a bottom. What looks like a bargain can turn out to be a very expensive Stage 4 disaster. Instead, buy on breakouts above resistance."
9- "DON'TS FOR SELLING 1. Don't base your selling decision on tax considerations...2. Don't base your selling decision on how much the stock is yielding...3. Don't hold onto a stock because the price/earnings (PIE) ratio is low...4. Don't sell a stock simply because the PIE is too high...5. Don't average down in a negative situation...6. Don't refuse to sell because the overall market trend is bullish...7. Don't wait for the next rally to sell...8. Don't hold onto a stock simply because it is of high quality."
10- "This increased volatility in the stock market is a two-edged sword. On the positive side, it gives us a chance to make money even faster. The downside is that when a reversal occurs, your stock can move from Stage 2 into Stage 3 far more quickly. This is especially true if it's one of the overly loved institutional favorites. These issues can really change direction in a hurry when bad news comes out and the institutional herd starts to panic. The way to protect yourself is by using a sell-stop order."
11- "Don't waste your time trying to determine if trading or investing is the best way to make money. There is no one best way; either approach can lead to success if skillfully applied. Instead, give some thought to understanding the kind of person you are and which approach you'd be comfortable with. Use a little introspection to find out what cloth you're cut from, and then become the best damned investor or trader that you can be! It leads to disaster if you decide to invest, but then get so angry because your stock dropped six or seven points that you end up dumping it just before the next upleg. So have an honest talk with yourself. If you obviously belong in one area or the other, then get there. Interestingly, there really are a number of market players who are in the middle ind can adopt either approach. If you fall into this category, I suggest a mixed approach."
12- "SUMMARY OF SHORT-SELLING DON'TS Don't sell short because the P/E is too high. Don't sell short because the stock has run up too much. • Don't sell short a sucker stock that everyone else agrees must crash. • Don't sell short a stock that trades thinly. Don't sell short a Stage 2 stock. Don't sell short a stock in a strong group. Don't sell short without protecting yourself with a buy-stop order."
13- "When a truly one-sided opinion really grabs the Street, it becomes so heavy you can almost cut it with a knife. One other word caution: I disagree with those who believe that contrary opinion alone is enough. Not true. I view CO as a psychological potential. just as the price/dividend ratio represents a value potential. Neither one should ever make you buy or sell stocks if all the timing gauges disagree. When CO gets the agreement of the other technical tools, then get set, because a big market move is getting ready to unfold."
14- "Here are the proper ways to increase your probability of success (Options)...Buy a call option only on a stock that is in Stage 2 or is moving into Stage 2...2. Buy only an option that has big potential...3. Give yourself a reasonable amount of time before expiration...4. Buy an option that is close to the striking price and, if possible, in the money...5. Use a very tight protective stop on your option positions."
1- "After having mad plenty of mistakes, I've learned how to decipher the very obvious clues that the market gives us and then tactically respond to a given situation. I'm going to teach you a new set of stock market rules that will make the market much less stressful and far more profitable for you. These rules won't have you pouring over balance sheets or listening to some company spokesman drone on about his firm's progress toward higher returns on shareholders' equity. These rules will require that you do two things: control your own greed and fear, and find and decipher the obvious clues that the market tosses your way."
2- "Therefore, your philosophy should be simple: 1. Never buy or sell a stock without checking the chart. 2. Never buy a stock when good news comes out, especially y if the chart shows a significant advance prior to the news release. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 3. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 4. Never buy a stock in a downtrend on the chart (I'll soon show you specifically how to define a downtrend). 5. Never hold a stock that is in a downtrend no matter how low the price/earnings ratio. Many weeks later and several points lower, you'll find out why the stock was going down. 6. Always be consistent. If you find that you're sometimes buying. sometimes selling in practically identical situations, then there is something terribly wrong with your discipline."
3- "Any stock has to be in one of four market stages, and the trick to be able to identify each one. The four stages of a major cycle. as illustrated in Chart 2-1 are: (1) The basing area, (2) the advancing stage, (3) the top area, and (4) the declining stage."
4- "There is never an investment—whether it be stocks gold, real estate, gems, or Naugahyde futures—that is a "buy it and forget it" situation. All investments go through cycles, and When you hold through the down part of the cycle (Stage 4) you suffer both financially and emotionally."
5- "After years of observing and studying market cycles, there is absolutely no doubt in my mind that sector analysis is just as important as overall market timing. In fact, in certain markets it is even more important."
6- "There definitely is! While no system will ever be a perfect forecaster of the future, we can learn some simple rules that will put the probabilities of success strongly in a our favor...THE LESS RESISTANCE THE BETTER...THE IMPORTANCE OF VOLUME..never trust a breakout that isn't accompanied by a significant increase in volume...IT'S ALL RELATIVE The next important factor to check out when narrowing down our list of potential buys is the relative strength (RS). This is a measure of how a stock is acting in relation to the overall market...If the relative strength is n good shape and improving and all other criteria are positive, then go for it. But absolutely never buy a stock, no matter how good the other factors, if the relative strength is in negative territory and it remains in poor shape."
7- "QUICK REFERENCE GUIDE ON BUYING...Check the major trend of the overall market. • Uncover the few groups that look best technically. Make a list of those stocks in the favorable groups that have bullish patterns but are now in trading ranges. Write down the price that each would need to break out. • iNarrow down the list. Discard those that have overhead resistance nearby. Narrow the list further by checking relative strength. Put in your buy-stop orders for half of your position for those few stocks that meet our buying criteria. Use buy-stop orders on a good-'til-canceled (GTC) basis. If volume is favorable on the breakout and contracts on the decline, buy your other half position on a pullback toward the initial breakout. If the volume pattern is negative (not high enough on breakout), sell the stock on the first rally. If it fails to rally and falls back below the breakout point, immediately dump it."
8- "STAN'S DON'T COMMANDMENTS...Don't buy when the overall market trend is bearish. * Don't buy a stock in a negative group. Don't buy a stock below its 30-week MA. Don't buy a stock that has a declining 30-week MA (even if the stock is above the MA). • No matter how bullish a stock is, don't buy it too late in an advance, when it is far above the ideal entry point. • Don't buy a stock that has poor volume characteristics on the breakout. If you bought it because you had a buy-stop order in, sell it quickly. Don't buy a stock showing poor relative strength. •Don't buy a stock that has heavy nearby overhead resistance. • Don't guess a bottom. What looks like a bargain can turn out to be a very expensive Stage 4 disaster. Instead, buy on breakouts above resistance."
9- "DON'TS FOR SELLING 1. Don't base your selling decision on tax considerations...2. Don't base your selling decision on how much the stock is yielding...3. Don't hold onto a stock because the price/earnings (PIE) ratio is low...4. Don't sell a stock simply because the PIE is too high...5. Don't average down in a negative situation...6. Don't refuse to sell because the overall market trend is bullish...7. Don't wait for the next rally to sell...8. Don't hold onto a stock simply because it is of high quality."
10- "This increased volatility in the stock market is a two-edged sword. On the positive side, it gives us a chance to make money even faster. The downside is that when a reversal occurs, your stock can move from Stage 2 into Stage 3 far more quickly. This is especially true if it's one of the overly loved institutional favorites. These issues can really change direction in a hurry when bad news comes out and the institutional herd starts to panic. The way to protect yourself is by using a sell-stop order."
11- "Don't waste your time trying to determine if trading or investing is the best way to make money. There is no one best way; either approach can lead to success if skillfully applied. Instead, give some thought to understanding the kind of person you are and which approach you'd be comfortable with. Use a little introspection to find out what cloth you're cut from, and then become the best damned investor or trader that you can be! It leads to disaster if you decide to invest, but then get so angry because your stock dropped six or seven points that you end up dumping it just before the next upleg. So have an honest talk with yourself. If you obviously belong in one area or the other, then get there. Interestingly, there really are a number of market players who are in the middle ind can adopt either approach. If you fall into this category, I suggest a mixed approach."
12- "SUMMARY OF SHORT-SELLING DON'TS Don't sell short because the P/E is too high. Don't sell short because the stock has run up too much. • Don't sell short a sucker stock that everyone else agrees must crash. • Don't sell short a stock that trades thinly. Don't sell short a Stage 2 stock. Don't sell short a stock in a strong group. Don't sell short without protecting yourself with a buy-stop order."
13- "When a truly one-sided opinion really grabs the Street, it becomes so heavy you can almost cut it with a knife. One other word caution: I disagree with those who believe that contrary opinion alone is enough. Not true. I view CO as a psychological potential. just as the price/dividend ratio represents a value potential. Neither one should ever make you buy or sell stocks if all the timing gauges disagree. When CO gets the agreement of the other technical tools, then get set, because a big market move is getting ready to unfold."
14- "Here are the proper ways to increase your probability of success (Options)...Buy a call option only on a stock that is in Stage 2 or is moving into Stage 2...2. Buy only an option that has big potential...3. Give yourself a reasonable amount of time before expiration...4. Buy an option that is close to the striking price and, if possible, in the money...5. Use a very tight protective stop on your option positions."
March 23, 2017
This book certainly opened my eyes to the world of technical analysis more than any other book I have read. I highly recommended it as it's easy to read and has fantastic case examples. I am a little surprised that Stan Weinstein's name doesn't come up more in the world of stock trading.
June 26, 2019
it's like listening to a car salesman.
March 19, 2018
While the book gives various interesting insights regarding Technical Analysis with examples, it feels like that the author believes to completely stay away from the Fundamentals of a company while investing.
However, it's worth reading the book at least once.
However, it's worth reading the book at least once.
October 19, 2020
Very wise words, some of them very helpful and a lot of them food for thought. However, being written in the 1990s, a lot of the information was woefully out of date and completely irrelevant. If you have read lots of investing books and want something else to read, it might be worth your time (although be prepared to skip through some pages). The first quarter of the book is probably the most useful (if you are new to investing) but there are many more out there that are more pertinent.
December 10, 2017
I read this book shortly after it was first published. It is simple, concise, well-written and just as applicable today as it was 25 years ago. While it is quite simple the messages are vitally important and I still find myself periodically referring to it. I have it in front of me now and it reminded me that I should write a review.
August 11, 2016
Great book! Even for today. I can't believe that I'd started trading without this book.
Read
February 12, 2022dad's book arrived in the mail today so i decided to give it a go.
cant say i read the whole book but i read the first few chapters and it is actually quite interesting. his writing is simple and straightforward, which was really easy to understand, but i don't think i will continue with this anytime soon LOL, its quite dry.
cant say i read the whole book but i read the first few chapters and it is actually quite interesting. his writing is simple and straightforward, which was really easy to understand, but i don't think i will continue with this anytime soon LOL, its quite dry.
January 8, 2021
Important read for understanding the basics of momentum trading.
March 27, 2021
Very readable technical analysis book. Recommended.
January 12, 2020
This book is decent for someone who is interested in understanding the financial market with little or no prior knowledge about technical trading. Thus making this a great book for beginners. However, it is less useful for others and many of the things said are outdated but the psychology of trading and investing remains the same.
A few market observations that I think is noteworthy - the four-year presidential cycle, "blue Mondays", year-end and summer rally syndromes, individual stock and its sector correlations etc.
The Triple Confirmation Patterns are a surge in trading volume, breakout past major resistance zones and RSI neutrality/crossovers.
A few thought-provoking quotes:
"Don't fret missing an advancing stock - it is similar to hailing a taxi; if you miss the first one, another one will soon come along.
Fear causes you to panic and sell at the bottom, while greed motivates you to buy right near the top.
High can get higher - investors are like manic-depressives: when they become optimistic, they'll find excuses to buy stocks no matter how high the P/E gets.
Trying to guess the bottom in a weak stock is like fishing in the ocean with your fingers.
Round numbers - psychology plays a very big part in market moves, and this is another example of herd instinct."
A few market observations that I think is noteworthy - the four-year presidential cycle, "blue Mondays", year-end and summer rally syndromes, individual stock and its sector correlations etc.
The Triple Confirmation Patterns are a surge in trading volume, breakout past major resistance zones and RSI neutrality/crossovers.
A few thought-provoking quotes:
"Don't fret missing an advancing stock - it is similar to hailing a taxi; if you miss the first one, another one will soon come along.
Fear causes you to panic and sell at the bottom, while greed motivates you to buy right near the top.
High can get higher - investors are like manic-depressives: when they become optimistic, they'll find excuses to buy stocks no matter how high the P/E gets.
Trying to guess the bottom in a weak stock is like fishing in the ocean with your fingers.
Round numbers - psychology plays a very big part in market moves, and this is another example of herd instinct."
September 9, 2014
This is a great book for any new person wanting to make money in the stock market. This definitely fits more towards the technical trader. It focuses a lot on stage analysis and technical indicators to give winning stock trades.
Pros:
Provides sample questions after each chapter (thoroughly tests the reader)
Simple language
Provides good introduction for those new to the stock market
Cons:
Example charts are skewed to fit the lesson. Majority of charts are not formed like the example
Some arguments have not withstood the test of time
Pros:
Provides sample questions after each chapter (thoroughly tests the reader)
Simple language
Provides good introduction for those new to the stock market
Cons:
Example charts are skewed to fit the lesson. Majority of charts are not formed like the example
Some arguments have not withstood the test of time
February 9, 2021
Great book on analysis. I have the hard copy, but wanted to get through it since I can never seem to make the time to read it. The only reason for the 4 star rating is the fact that there are a lot of visuals (charts, etc.) that supplement the reading and that the author refers to that help develop understanding. The rating is more of an indicator of the fact that it would be more beneficial to pick up the hard copy and read it.
May 12, 2019
Amazing book. It's way ahead of its time. I'm lucky to have uncovered this gem.
July 15, 2021
Hightlight
1. Relative Strength
2. Topdown approach
3. AD line and momentum
1. Relative Strength
2. Topdown approach
3. AD line and momentum
Read
March 22, 2020As I write this review we are in the midst of the Corona Virus stock market meltdown.
I am always looking for the next book on trading/investing, and I especially like seeing high ratings with ample reviews. Having said that I have seen this one come up in searches before, but it wasn't until I heard it recommended on a Chat With Traders podcast interview with Jason Leavitt that I took the plunge to buy and add to my library. That interview was in Nov of 2015 and he said this book was one of the best he had ever read on technical analysis. After reading it I can see why.
So why this book? Weinstein goes into great detail on simple techniques for spotting clues as to what's happening in stocks and within the braoder markets. Using volume, moving averages, trendlines, breakouts, breakdowns, and patterns Weinstein teaches you what to look for when buying in and going long on, and what to look for when selling out and going short.
With that information you can make far more intelligent trading decisions. He uses many, many chart examples to explain his theory of the patterns and setups he looks for and how they relate to the 4 major cycles; accumulation, markup, distribution, markdown.... rinse, repeat. Albeit the charts are old (afterall this was written back in the mid to late 80's) but the premise is the same; buy high/sell higher, sell low/buy lower. This is what the pro's do, and many of the "pro's" are just plain everyday folk like you and I!
There's nothing new in the stock markets. There never has been and there never will be; what was before, is now, and will be again. Why? Because human psychology will never change! Fear and Hope are the two driving factors behind the psychology of all traders and investors. Edwin Lefevre said it in The Reminisciences of A Stock Operator, and Weinstein says it in this book.
I am glad I finally got this book, and I do give it my recommendation.
I am always looking for the next book on trading/investing, and I especially like seeing high ratings with ample reviews. Having said that I have seen this one come up in searches before, but it wasn't until I heard it recommended on a Chat With Traders podcast interview with Jason Leavitt that I took the plunge to buy and add to my library. That interview was in Nov of 2015 and he said this book was one of the best he had ever read on technical analysis. After reading it I can see why.
So why this book? Weinstein goes into great detail on simple techniques for spotting clues as to what's happening in stocks and within the braoder markets. Using volume, moving averages, trendlines, breakouts, breakdowns, and patterns Weinstein teaches you what to look for when buying in and going long on, and what to look for when selling out and going short.
With that information you can make far more intelligent trading decisions. He uses many, many chart examples to explain his theory of the patterns and setups he looks for and how they relate to the 4 major cycles; accumulation, markup, distribution, markdown.... rinse, repeat. Albeit the charts are old (afterall this was written back in the mid to late 80's) but the premise is the same; buy high/sell higher, sell low/buy lower. This is what the pro's do, and many of the "pro's" are just plain everyday folk like you and I!
There's nothing new in the stock markets. There never has been and there never will be; what was before, is now, and will be again. Why? Because human psychology will never change! Fear and Hope are the two driving factors behind the psychology of all traders and investors. Edwin Lefevre said it in The Reminisciences of A Stock Operator, and Weinstein says it in this book.
I am glad I finally got this book, and I do give it my recommendation.
This entire review has been hidden because of spoilers.
June 6, 2021
1. Never buy or sell a stock without checking the chart.
2. Never buy a stock when good news comes out, especially if the chart shows a significant advance prior to the news release.
3. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper!
4. Never buy a stock in a downtrend on the chart (I'll soon show you specifically how to define a downtrend).
5. Never hold a stock that is in a downtrend no matter how low the price/earnings ratio. Many weeks later and several points lower, you'll find out why the stock was going down.
6. Always be consistent. If you find that you're sometimes buying, sometimes selling in practically identical situations, then there is something terribly wrong with your discipline.
If you miss buying a stock, don't get panicky and chase it and just end up paying any old price. Be consistent. Either buy it right or don't buy it at all. Obviously a little common sense is needed. If you miss it at 12 1/8, buying at 12 7/8 is no big deal, but paying 25 or 26 sure is! If you've missed a good stock, don't fret about it. With thousands of listed and over-the-counter stocks to pick from, there will always be good stocks at great prices. It's similar to hailing a taxi; if you miss the first one, another one will soon come along.
Another good point -> if the stock breaks above the top 2,5 year resistance, there’s a good change that it will climb a lot, since there’s no selling pressure from people who bought previously at those levels and now want to get out even. If there’s no resistance level on the 10 year chart, than the chance of potential double are very high.
2. Never buy a stock when good news comes out, especially if the chart shows a significant advance prior to the news release.
3. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper!
4. Never buy a stock in a downtrend on the chart (I'll soon show you specifically how to define a downtrend).
5. Never hold a stock that is in a downtrend no matter how low the price/earnings ratio. Many weeks later and several points lower, you'll find out why the stock was going down.
6. Always be consistent. If you find that you're sometimes buying, sometimes selling in practically identical situations, then there is something terribly wrong with your discipline.
If you miss buying a stock, don't get panicky and chase it and just end up paying any old price. Be consistent. Either buy it right or don't buy it at all. Obviously a little common sense is needed. If you miss it at 12 1/8, buying at 12 7/8 is no big deal, but paying 25 or 26 sure is! If you've missed a good stock, don't fret about it. With thousands of listed and over-the-counter stocks to pick from, there will always be good stocks at great prices. It's similar to hailing a taxi; if you miss the first one, another one will soon come along.
Another good point -> if the stock breaks above the top 2,5 year resistance, there’s a good change that it will climb a lot, since there’s no selling pressure from people who bought previously at those levels and now want to get out even. If there’s no resistance level on the 10 year chart, than the chance of potential double are very high.
July 17, 2022
Don't let the fact that this book was written in the 80s deter you from reading it and learning from it. What it preaches still seems to apply in today's world, almost 40 years later. Some minor details have changed, but the overall concept of stocks going through stages has remained intact.
The author makes it all sound easy, spot stocks in stage 1, enter in early stage 2, ride stage 2 to profits, and then be wary in stage 3 and get out in stage 4. The real world is a bit more nuanced, yet you can take his information and work on implementing it in your trading and investing. I think the most adjustment will be required in the area of selling and being comfortable with setting stops. This can only come from experience and by doing though.
I thoroughly enjoyed the book and would highly recommend it to anyone that's thinking about trying their hand in the markets. Do be aware that it only scratches the surface area of the trading world, and there is still much to learn, mostly in how you will handle your emotions and the market's manic short-term behavior.
The author makes it all sound easy, spot stocks in stage 1, enter in early stage 2, ride stage 2 to profits, and then be wary in stage 3 and get out in stage 4. The real world is a bit more nuanced, yet you can take his information and work on implementing it in your trading and investing. I think the most adjustment will be required in the area of selling and being comfortable with setting stops. This can only come from experience and by doing though.
I thoroughly enjoyed the book and would highly recommend it to anyone that's thinking about trying their hand in the markets. Do be aware that it only scratches the surface area of the trading world, and there is still much to learn, mostly in how you will handle your emotions and the market's manic short-term behavior.
October 29, 2017
I've been meaning to read this classic trading book for many years....I have finally got around to it. It did not disappoint. I am a committed value investor and not a trader, but I still found this book helpful, insightful and relevant. It will make me a better investor: I still need to track my value investments carefully and Mr. Weinstein's stage analysis concepts will certainly aid my buy and sell decisions. The book is straightforward, simple to understand and very clear. Well written! There are hundreds of examples highlighting nearly every point he makes in the book. The book was written in 1988 so it is a bit dated, but the lessons are timeless. If you are a serious trader or investor, this is a must read.
August 14, 2020
Uno de los mejores libros que he leido. Te muestra con mil ejemplos como funcionan los mercados a nivel tecnico, abriendote la mente y haciendote olvidar la constante manipulacion de noticias que tenemos alrededor y que muchas veces influye en nuestras decisiones a la hora de invertir.
La estrategia Weinstein, aunque con algunas modificaciones, funciona a la perfeccion incluso hoy en dia.
Muy recomendable.
La estrategia Weinstein, aunque con algunas modificaciones, funciona a la perfeccion incluso hoy en dia.
Muy recomendable.
April 27, 2020
Just wow...this daimond need to be mentioned in same category as intelligent investor, or Howard Marks the most important thing...Most of methodology/stages mentioned is still happening in present day market... obviously this book is more effective in bull market but to understand various cycle a stock goes through and how to invest by taking clues and indicators.. Awesome read.
February 22, 2022
This book was very slow and dated. Listening to the audio I felt I missed out by not seeing the charts etc mentioned. Did get some good info overall, most important being about placing "stops" (which I already knew") once I put playback at a faster speed that helped me get to the finish
April 2, 2022
Un excelente libro para las personas que quieren aprender de trading e inversiones, el autor explica de una manera muy simple la forma en la que él opera los mercados, para las personas que ya tienen más experiencia es un excelente recordatorio de los principios básicos de especular correctamente.
July 23, 2023
Lovely book. It’s quite useful for working professionals who can not devote much time to track the market. Just learn basics, practice it, master it & make peace with it.
You can make lot of money if you follow these principles consistently. Great read.
You can make lot of money if you follow these principles consistently. Great read.
September 27, 2023
Just recently finished something I will
For sure refer back to and read some more but I like the examples he used and different techniques so if don’t understand one way you can try another way.
He speaks on trading and long term investing which is good too
For sure refer back to and read some more but I like the examples he used and different techniques so if don’t understand one way you can try another way.
He speaks on trading and long term investing which is good too
April 22, 2018
Good book... he explains his complete methodology. Looking at book cover, I was hesitating to buy this one but glad I read iत.
July 19, 2018
Brilliant - learned a lot (despite some of the information being very out of date).
October 21, 2018
L'analyse technique des marchés boursiers, expliqué avec tout le jargon, mais on fini par s'habituer et comprendre, au fil de notre lecture.
Bon livre.
Bon livre.
December 26, 2018
Very good book.
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