Customer Reviews

Tape Reading & Market Tactics (Marketplace Classics)

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

 

 

This is a very good basic guide to reading the ticker tape or level 2 quotes. Even though this book was written in 1930 it is just as useful today. The author explains how to make decisions based solely on market action and ignore tips, opinions, and the media. The ticker tape does not lie watch for sustained price increases on large volume to spot stock operators and money managers taking large positions and get on board after a confirmed move. Trade only 6-12 times a year for intermediate moves or go long, the odds are against successfully scalping a few points here and their. Do not attempt to buy at the bottom or sell at the top, just take the meat of the move as profit. Let winners run but sell losers quickly. This book is 100% focused on the technical aspects of stock trading with fundamentals not mentioned. The author really wants the reader to take away the understanding that all stock prices are based on supply and demand and a stocks true value is the price you can get a buyer to buy it from you. You must trade stocks just like they are merchandise with the intent to sell them for more than you paid for them, reduce the ones that are out of season and hold the ones that are growing in demand. Does any of this sound familiar? This book is a great classic with all the basics on reading technical moves and money management against huge losses. I recommend this one for beginners are a refresher for seasoned traders.

The book, written in the 1930's, explains principles that have not changed, showing how to interpret price movements using volume to tell you what the "smart money" are likely to be doing.
It is not a system, nor is it a complete guide, and it was written before the age of computers. But I consider it one of the most valuable books I have read on trading.
I would recommend it for someone who already has some experience at trading, and wants to move past the commonly used indicators (MACD, RSI, etc) and get an insight to what is REALLY driving prices.

This book helped me to understand when a stock is being accumulated or distributed. As the author points out, that is all you need to know to make money and keep what you make. It is an excellent book and a must read.

This book is a great primer on chart reading and momentum investing. Some of the key elements of investing back then can be used in modern investing.

I've read a lot of books. This book is worth is weight in gold. These older books still apply 100% to todays markets, except for the old tape, but everything else is the same and the concepts are the same. It's short and to the point.

This is an excellent book on tape reading with respect to volume. It is consistent with the IBD philosophy, and explains different ways to analyze volume when picking stocks.

It is a nice book for beginners to learn, I didn't find any tactic or other practical advice.

I'm sure this information was useful years ago when it was written but the market has changed so much that I do not beleive that much of it applies anymore.