Learn how to generate profit, from history’s most celebrated traders including William J. O’Neil, Jesse Livermore, and others. In How Legendary Traders Made Millions, award-winning investment author and historian John Boik has created the first book to put the strategies of history’s top traders in one place. Revealing how each trader took advantage of distinct market situations, it details the hands-on specifics of each trade as well as the economic, political, and stock…
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This book shows in detail what it takes to go from inconsistent looser to consistent winner with real life examples spanning 100 years. Chapters 8- 12 are the best, detailing Willian O’Neil and Jim Roppel, giving many never before released information on O’Neil and how he made hundreds of millions using CANSLIM. The book shows how CANSLIM was developed, refined and successful over 100 years. With Roppel you get an inside look at the trials and tribulations necessary to make the system work. Very uplifting. The last chapter summarizes the traits all the greats possessed that helped them consistently blow away the market over 100 years. It also gives detailed market responses to every major market moving event, like the Cuban Missile crisis, rising and falling interest rates, G.D.P., and inflation. This is an indispensable reference for any serious investor. The new Market Wizards.
This book is an excellent history book that will also teach you how to trade stocks. The book covers the stock markets actions decade by decade for the entire twentieth century up to 2006. At the same time he explains what the great stock traders who lived at that time did in the market. He covers all the bear and bull markets and what caused them. I agree with him on the traders he covers, Livermore, Baruch, Loeb, William O’ Neal, Nicholas Darvas, Jack Dreyfus, and Jim Roppel. (I would include Warren Buffett and Peter Lynch since the mutual fund manager Dreyfus was included). Every trader included became a millionaire off the market. You better to study? The author recaps at the kind all the similar characteristics that made these men so successful. Here are some of the similarities they all had:
1. Only trade in a bull market. Know the market trend.
2. Make your own decisions do not be influenced by others.
3. Learn from market history.
4. By stocks that have strong fundamentals that are leaders in their industry.
5. Buy more of a stock on the way up not down.
6. Buy stocks at 52 week highs breaking out of correct basing patterns.
7. Cut losses short let winners run.
I would also study William O’Neal’s books and read Investors Business Daily if you want to be a successful trader or investor. It is all you will need. I really became successful trading stocks when I started following the principles in the books written by these authors.
I read the Battle for Investment Survival, by Gerald Loeb, back in the mid-seventies. It is THE all-time classic on successful investing in stocks.
This book springboards off of that type of investing philosphy and adds to it with the advice of other great traders.
The last few chapters get a bit focused on O’Niel and Roppel, but I think it was because the author had more access to info about them. It stars getting a bit self-serving toward the CAN SLIM method and Investors Business Daily.
All in all, it is well worth the price. I have already seen more success as a result of reading it.