How to Make Money in Stocks Getting Started: A Guide to Putting CAN SLIM Concepts into Action Author: Matthew Galgani | Language: English | ISBN:
0071810110 | Format: EPUB
How to Make Money in Stocks Getting Started: A Guide to Putting CAN SLIM Concepts into Action Description
The #1 GROWTH STRATEGY for stock investing
“To be a successful investor, start with the basics and stick to the rules. Matt’s book shows you how to do that. It may be the missing link you’ve been looking for.”
—William J. O’Neil, Investor’s Business Daily Founder and Chairman
“Getting Started takes the guesswork out of investing. Anyone can use these routines and checklists to become a successful investor.”
—Amy Smith, How to Make Money in Stocks—Success Stories
Through both bull and bear markets, Investor’s Business Daily’s CAN SLIM® Investment System has consistently been the #1 growth strategy, according to the American Association of Individual Investors. How to Make Money in Stocks—Getting Started shows you how to put the CAN SLIM System to work for you.
Using an easy-to-follow game plan designed for busy people, you’ll discover:
- 2 simple rules to protect your money
- 3 critical factors to consider before you buy
- Buying & Selling Checklists to help you capture – and keep – solid gains
- Easy-to-follow routines
- How to spot—and deal with—major changes in market direction
- Action Steps and online videos to quickly start using what you learn
Getting Started is the latest addition to the bestselling How to Make Money in Stocks series launched by CAN SLIM creator and Investor’s Business Daily founder William J. O’Neil. Millions of investors have used O’Neil’s strategy to build financial peace of mind. Now it’s your turn!
So whether you’re new to the stock market and a little nervous about jumping in—or if you’ve been investing for awhile, but aren’t yet achieving the kind of results you want—How to Make Money in Stocks—Getting Started gives you a clear, step-by-step path to investing success.
- Paperback: 256 pages
- Publisher: McGraw-Hill; 1 edition (May 21, 2013)
- Language: English
- ISBN-10: 0071810110
- ISBN-13: 978-0071810111
- Product Dimensions: 8.9 x 5.9 x 0.8 inches
- Shipping Weight: 15.2 ounces (View shipping rates and policies)
Finally for all those investors and traders trying to implement the CAN SLIM investment methodology by using William O'Neil's book "How to Make Money in Stocks" along with Investor's Business Daily, here is your users manual. Matthew Galgani has done an excellent job with this book by both keeping it simple and easy to read but also getting all the vital elements needed to bring all of O'Neil's teachings together as a cohesive whole for implementation in a real strategy.
This is the very first kindle version of a book I have bought and read and I found all the links that were available inside the book that went to the investors web site very useful for video lessons to expand on the authors points with out making the book excessively long by trying to incorporate everything in writing.
The kindle edition of the book is filled with pop out historical charts of the biggest winning stock charts in history along with recent ones that I had actually traded in the past few years. The charts are very valuable to actually understand visually what the big winners look like to avoid thinking they are "too high priced" as they play out in real time.
The lessons of this book are many, here are a few:
The keys to winning in the stock market is to only buy stocks during market up trends, focus on the companies with the biggest earnings growth, and buy stocks being accumulated by institutional investors.
How to use the IBD market pulse to determine the markets current trend. (I really liked the strategy that the author suggested for trading an index using their market model. He showed how their simple market trend model would have saved buy and holders from the vast majority of the 2008 plunge and got them back in after the 2009 reversal).
This book is a good step by step how to guide to William O'neills CAN SLIM method , however when I decided to purchase the book my expectation was for some updates on the system to make it more useful in current market conditions as I explain below.
The author believes that a stock picked using the CAN SLIM method is capable of delivering several hundred to one thaousand percent profit, however he advocates that a new investor tries to capture these profits in a stepwise procedure. This involves selling the stock when it moves twenty to twenty five percent above an ideal buy point and then waiting for a new setup giving another ideal buy point. Note that the ideal buy point is not the price you buy at but the ideal price the stock should have been bought at usually on a break out of a certain chart pattern such as double bottom or cup and handle. For this reason, a trader's profit is usually less than the 20% ideal profit assuming the trader is able to tell when the stock reaches 20% above the ideal buy point. My assumption here is that the author believes that with experience an investor is likely to be able to buy closer to the ideal buy point. so this approach, although not my favorite is feasible for beginning investors.
The author also advocates selling a stock when it drops 7-8% below your purchase price ; no questions asked. While this may have been a good approach many years ago, the market volatility has increased significantly. More important is that growth stocks that pass the CAN SLIM model are even much more volatile than the general market. If an investor is to sell according to the method above and then wait for a new setup , it is very likely that he will be shaken out with a 7-8% loss limit multiple times on several entries.
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