This book has been considered by academicians and scholars of great significance and value to literature. This forms a part of the knowledge base for future generations. So that the book is never... This description may be from another edition of this product.
This little classic has great advice in it even though it was written over 80 years ago. It discusses the importance of risk management when trading stocks and how different investing is to trading stocks. The author gives the excellent advice to never average down in price after the first purchase of a stock for trading.(This has saved me a lot of money). I found it very interesting that on one page he claimed that he could trade stocks succesfully if he was away from Wall Street and just received cables of a stocks daily range of prices and closing price while traveling. He claimed that was all the information needed to make trading decisions. He said that it was better to be away from Wall Street and the ticker and rumors. Strangely enough 40 years after he wrote this Nicolas Darvas did exactly that and made $2.5 million trading stocks using cables while traveling the world. This is a great book for beginners.
Oldie but goodie!
Published by Thriftbooks.com User , 18 years ago
This book was written many years ago, but I believe the principles hold true as much today as when it was written. Very good basic patterns and common sense trading.
A Pioneer
Published by Thriftbooks.com User , 25 years ago
Virtually everything written after Livermore and Wyckoff are variations on themes developed by these two men. Wyckoff was among the first to explain the accumulation-distribution cycle (which makes stock and market timing possible) and to develop the use of "surrogates", self-made indexes which consist of a handful of leading stocks in a group (such as semiconductors), which warn the investor of impending moves, and which enable the investor to filter out all the noise of broadcasters, publishers, newsletters, message boards, and chat rooms.Understand Wyckoff and you'll understand the engine that drives stocks and markets rather than be distracted by the genuine imitation wood trim and the smell of the leather seats.
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