Key points:
- Very practical, systematic and clear. Excellent communication. You don't get bored reading it.
- Sound trading system.
- Stan's stage analysis is a tremendous help to separate the stock price movement in stages. Very valuable insight.
- His stop loss explanation on both and long are extremely valuable and clear. He explained it in a step-by-step fashion. This alone can save you $$$ by locking-in your profit.
- Other excellent explanation: important chart patterns to be considered (he only selects the best ones), volume analysis, importance of Relative Strength and moving averages. What to buy, When to Buy, When to Sell, How to Short....And he separated those key processes between Traders and Investors. So, you will have a clear understanding of what to do. A step by step explanation on how you can find the A+ stocks using his "Forest to Trees" approach.
- Excellent Quiz & Answers and the end of each chapter that tremendously re-test you understanding of the important concepts.
If you're a beginner or intermediate, this book will certainly give you a huge boost in mastering chart reading as well as execution. Unlike any books that sort of short in explaining one critical area, I find Stan's book very clear and entertaining as well. It opens your eyes on what to look for in a chart.
Highly recommended!
Compared to other similar tomes on this subject it uses no math or formulas but relies on actual charts of stocks. The method teaches how to view price, volume and trend data so that stock picks yield winners 60 to 80% of the time and with gains (for me) 2x to 10x! It also provides lessons on the how to cut losses and how to learn the discipline of selling for maximum profit. This is a book which can (and must) be reread over and over as one gains expertise at Technical Analysis. The methods learned provide logical procedures which eliminate the hype of the stock market and turns the hype into profits. Weinstein's motto of the "Tape Tells All" is the foundation for success because it places stock action as the primary source of information over OPINION.
The book introduced one central theme - look for a big volume jump when the price crosses the 150-day moving average - and was repetitive after that. The book tried to discuss chart patterns (e.g. head-shoulders) but was pretty lame. The book did not mention anything about other market indicators such as MACD, RSI, etc. Were these indicators unimportant? Were these indicators not in fashion back in 1990? I was perplexed.
If you are looking for an introduction to technical analysis, there are better tutorials out on the web than this book (just google "technical analysis"). Save your money for your next investment.