as214
184 posts
msg #44435
- Ignore as214 |
5/30/2006 9:56:24 PM
Niko,
IBD is nice in the beginnings of a bull market, but by extensive backtesting I've discovered that most of his calls had a tendency to drop significantly..as he doesnt profile them until its too late. You will get much much better results if you buy stocks that make brand new 5 year highs with RS 70 and eps 80, then you will if you wait till IBD profiles them.
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nikoschopen
2,824 posts
msg #44440
- Ignore nikoschopen |
5/30/2006 10:36:55 PM
Truth be told, I use neither IBD's ratings nor its CAN SLIM approach to stock screening. I don't even read the newspaper anymore, especially IBD. I rely on charts and charts alone.
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alf44
2,025 posts
msg #44445
- Ignore alf44
modified |
5/31/2006 1:44:19 AM
...ditto...
<edit> make no mistake though...William O'Neil (and the contributions he's made) is/are HUGE !!!
Definitely,, one of my "10 Most Influential" !!!
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EWZuber
1,373 posts
msg #44452
- Ignore EWZuber |
5/31/2006 11:41:17 AM
The IBD system is a good one and has won many stock trading tournaments. I prefer to buy a momentum stock when it breaks the TLR within the consolidation pattern though instead of waiting for it finish the pattern and then break out. That way you already have gains under your belt should the stock fail at the breakout point.
The David Floyd book I would say is rather advanced. He uses TICK charts, S&P futures and fairly detailed technical trading on 1 minute charts. You can gain insight from his daytrading principals that are pertenent to trading in longer time frames also.
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nikoschopen
2,824 posts
msg #44455
- Ignore nikoschopen |
5/31/2006 12:44:34 PM
EWZ,
Thx for the snippet. Call me a truant, but I have yet to read Floyd. But when I searched Amazon.com for his book, it also brought up one of my all-time favorite writers under "Customers who bought this item also bought": Marcel Link's "High Probability Trading". This is an excellent primer for those who are in the trading rut, as I have been on many occasion. I find this book to be always refreshing as I find something new every time. It not only reveals a hidden gem on how to make "high probability" trades, it leads you step-by-step in achieving a well-balanced money-management skills coupled with system trading analysis. Towards the end of the book, Link touches on key elements of discipline that's not to be missed.
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as214
184 posts
msg #44456
- Ignore as214 |
5/31/2006 1:05:26 PM
If the IBD system is so good how come the hedgefund that Oneill started based on IBD principles went bankrupt after three years? Value investors buy William Oneills darlings months before they are profiled on IBD.
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nikoschopen
2,824 posts
msg #44460
- Ignore nikoschopen |
5/31/2006 2:42:15 PM
as214,
Even though you raised a valid point, I believe it's largely irrelevant to the spirit of this thread. I would appreciate if you keep this thread as simple as possible in connection to books and peer reviews.
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nikoschopen
2,824 posts
msg #44498
- Ignore nikoschopen |
6/1/2006 5:24:29 PM
Just a quick follow-up. I have modified the first post into different categories to better identify the subject matter of each book. Hence, I will from now on move and add the poster's recommended books to this very first post, which I hope will serve as a sticky. This would also help minimize the chaos of sifting through all the posts, since it would be practically impossible to find anything under one roof as the list becomes increasingly longer. Let me know of ways to make it more efficient.
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alf44
2,025 posts
msg #44523
- Ignore alf44 |
6/2/2006 2:24:17 AM
...by the way...meant to say so earlier...
...GREAT JOB WITH THIS THREAD !
I THINK YOUR ORGANIZATION OF THE BOOK TITLES...oh !
Forgive me...
...I somehow fell into..."OBNOXIOUS CAPITAL LETTERS JESUS GUY" !
-------------------------
Nevertheless...nice work, niko !!!
Regards,
alf44
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nikoschopen
2,824 posts
msg #44538
- Ignore nikoschopen |
6/2/2006 4:24:13 PM
Over the years, I've amassed quite a number of trading E-books. I do not mind sharing them with others, but the last thing I have on mind is some dude from the Fed knocking on my door for copyright violation. As Alfie so eloquently puts it, fwiw! Let me know what you think.
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