Customer Reviews

How to Buy: An Insider's Guide to Making Money in the Stock Market (Fraser Publishing Library)

5 star:		(4)
4 star:		(1)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

From covering all the thoughts that go through ones heads at the time of pressing the trigger, to all the consequences of these thoughts. Everything is covered in this book.
Then it helps one create a strategy for buying based on facts rather than emotions.

I would recommend this book and When to Sell above most books about trading.

After reading two other books by Justin Mamis, I was excited to read this one. When to Sell: Inside Strategies for Stock-Market Profits and The Nature of Risk were two extraordinary books on trading. This author knows what he is talking about and really relates tough topics in an easy to read fashion.

My opinion is if you trade, you need to read all three of these books.

This book, "How to Buy", covers everything you need to make your decisions and pull the trigger on a trade. He explains what to look for, how to gauge the strength or weakness in a stock, how to gauge the attraction for other traders, and how to get in on that stock as it is being accumulated.

Why would you buy a stock that may not do anything for you? Get one that is showing the signs of moving where you want it to go. Justin talks about buying sensibly and not emotionally. He also talks in depth about when NOT to buy. That topic alone could save you a fortune on your next stock pick.

I can't say enough about the series of When to Buy, When to Sell, and The Nature of Risk. Ironically, I bought the When to Sell years ago, read it and shelved it. It's pages would have saved me a bundle over the past year. As the worst seems to be behind us, knowing when to get back in is key. Simply written with great examples, make this book a must own.

There are no better market technicians than Mr. Mamis, in my opinion. He has been through it all, and his writings clearly demonstrate the truth of how the market works, and what any trader needs to do in order to make a go of it.

That said, DON'T expect this book to be an update of the same book written, what, maybe 25 years ago. I had hoped to get his take on some of the gyrations that have occurred since the first book, but no luck. All that's different in this book is that he's written an updated preface. If you have the first book, keep it and enjoy it, but don't buy this one, it's 99.99% the same book. While the preface is nice, it certainly doesn't justify buying this book if you have the first edition.

This is my first read of Justin Mamis. I have the other two books to get through yet. How to buy is a very different kind of trading book from others I have read. It doesn't try to sell you a system or a set of indicators, what it does do is try to educate the reader giving some very basic ideas. Many traders scoff at support and resistance, trend channels, price and volume movement at key points, and other so called old styles of trading. They would much rather see lots of indicators with signals telling them to buy and sell without knowing really why or how these indicators are generated. My advice is remove all indicators, look for key price areas and learn to interpret price and volume action around these areas. Oh yeah, BUY the book you won't be dissapointed, unless you want a turn key trading system.