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Trade Like an O'Neil Disciple:Must Buy -Must Read !

  
  Education
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Here is my brief review. Detail review will follow later.
In a year around 40 to 50 books on trading are published, I read most of them, there are very few which have actionable trading ideas and can help you enhance your trading skills. Trade Like an O’Neil Disciple: How We Made 18,000% in the Stock Market is one of the best books I have read in recent years. I am already reading it second time and taking extensive notes.
If you are growth/ IBD/ momentum/ CANSLIM kind investor you will find practical ideas and some new ways of entering and exiting trades. You will also learn how explosive returns are possible under right circumstances using those methods.
The book also goes in to details of short selling and has couple of good short selling strategies.
The book is not for beginners and those looking for simple methods without much effort, you need to have some foundation about growth and momentum investing before appreciating and understanding it.
A must buy for growth/momentum investor who want explosive returns…..

Trading: Doing the Homework

  
  Education
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HOMEWORKMany new traders fail in the stock market simply because they rush in without putting in the proper time and discipline in doing their homework. Trading is a professional endeavor much like any other career, you will only get out of it what you put into it. There is no easy money, you will have to earn it by out witting, out playing, and out smarting the majority of other market participants.

You need to learn ten things to be a successful trader:

  1. How to manager your risk per trade.
  2. What systems and methods really make money over the long term.
  3. What system fits your personality and beliefs about the market.
  4. How much heat you can you handle. How big can you trade with out emotions taking over?
  5. You must learn how the market actually works, trends, flows, and functions.
  6. Learn to focus only on what makes money in the market, everything else is noise.
  7. Discover who the greatest traders of all time were and study how they operated.
  8. Find out what the best books on trading are and read them.
  9. Study the charts of the stocks you are trading to understand how it works with trends, support, resistance, and moving averages.
  10. Practice paper trading, simulated accounts, and trading small positions of real money until you have mastered your trading plan. (more…)
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