Just bought the book

[FX_Lifestyle]

Hi I just bought and have started reading the O Neill book. It's great, but really I need to study it over about a whole weekend, then start taking the actions.

Introducing myself to the forum also.

I am a forex trader as well as Masters student in Chinese business, language though am English in UK.

Cheers, looks like a great forum,

Sam

 

[timsk]

Hi I just bought and have started reading the O Neill book. It's great, but really I need to study it over about a whole weekend, then start taking the actions.
I am a forex trader as well as Masters student in Chinese business, language though am English in UK.

Hi Sam,
Welcome to T2W!
As you've initiated this thread, I assume that you welcome replies? These may be thin on the ground as your post is rather perplexing. O'Neil's CANSLIM system is designed for stocks and will, I imagine, be hard to apply to Forex. That said, I don't trade Forex, so perhaps you have an ingenious trick or two up your sleeve? Good luck anyway!
Tim.

 

[FX_Lifestyle]

Response...

Hi Tim,

Yes I realise what you said.

I trade forex as my main outlet for career, but I have tax-free investments in the stock market using funds and ISA's (nearest US equivalent IRA) and like learning about stock trading because I find it exciting that it deals with real companies and stake in those which is a totally different (and I believe more difficult) game to currencies and world currency economy..

I was recommended the book by O' Neil as the number one stock trading book, wouldn't want to apply to forex as I have my own systems which I have developed and am not sure how you can apply the ideas of O Neill and calculations to forex - in fact it is impossible and silly idea.

Thanks for the reply, of course I welcome them. Let me know do you trade using the CANSLIM approach?

Sam (Yorkshire)

 

[timsk]

I was recommended the book by O' Neil as the number one stock trading book, wouldn't want to apply to forex as I have my own systems which I have developed and am not sure how you can apply the ideas of O Neill and calculations to forex - in fact it is impossible and silly idea.
Thanks for the reply, of course I welcome them. Let me know do you trade using the CANSLIM approach?

Hi Sam,
All becomes clear! I suspect a few folk around here might have other ideas on what fits the bill as the 'number one stock trading book' - do a search for books if you're interested. However, if you're completely sold on the CANSLIM approach, you might be interested in Dan Zanger who, like you, is very enthusiastic about it. Here's a link ti his site:
www.chartpattern.com
Oh, to answer your question, no I don't use the book - I'm strictly a T.A. trader, although I would certainly consider F.A. for investments.
Cheers!
Tim.

 

[damianoakley]

Hi FX,

In my opinion, O'Neil's book is one of the best you can buy if you are thinking about getting into U.S. Stocks as a beginner.

It is good for beginners because it describes a solid method of picking and buying strong stocks.

The reason I would say the book is good just for beginners is because the author's exit strategies are very subjective. I think there are better and less vague methods of exiting stocks than are described in the book.

Also, I think that the position sizing and stop-loss methods described are somewhat crude and a little basic. There are more sophisticated and effective methods of capital allocation, sizing trades, and setting stops.

Other than that, the book does describe an excellent method for selecting stocks and determining entry points.


Thanks

Damian

 

[dhakal]

Hi
I have read o Neil book, it seems to be OK for investor who would like to take stock price over $20.
But, for the stater perhaps any other books to be worthy to work. If, any one in this form can recommend
any book that can help initial stage

Dkl

 

[LondonUSTrader]

Hi
I have read o Neil book, it seems to be OK for investor who would like to take stock price over $20.
But, for the stater perhaps any other books to be worthy to work. If, any one in this form can recommend
any book that can help initial stage

Dkl

One of the first books I read on the stockmarket and trading was Stan Weinstein's Profiting in Bull and Bear Markets.

A classic. After having read over 100 trading books since, still one of my favourite books on trading and the stockmarket.