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When to Sell: Inside Strategies for Stock-Market Profits (Fraser Publishing Library) Paperback – December 8, 1999
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Top Customer Reviews
Very highly recommended and cheap at the price.
Along with "Reminiscences of a Stock Operator" and a couple of others, this is one of the best and most informative books I've read about the market.
Sell too soon and you end up with a small loss that prevents you from a much bigger loss. Or does the market turn and your small loss would have turned into a big winner?
This book goes into detail about when you should sell and when you should sell short. I have read many books on trading and this one covers those points in more detail, with more clarity, than all of the others combined. The large majority of books only talk about buying, usually in a bull market. They almost never tell you specifically when to get out of those positions, or if they do, they give a generic profit target like "2 or 3 times your initial risk". How is that good advice? They have no idea of the market that day or of your entry point. I consider myself to be pretty good at entries, almost surgical in precision, so I can use a smaller stop loss to know if the position is going to work. I would go broke if I stuck to "2 or 3 times my initial risk", my winning trades usually go much further and my initial risk is usually very small.
Justin Mamis goes into the psychology of holding positions. He talks about how one professional trader told him "The public is most comfortable when they are sitting with losses". I read that and instantly knew he was correct. I have seen it in the past in my trading. I would be sitting there with a huge profit and I was nervous as hell. Then the next day I was sitting there with a big loss, and I was not nearly as nervous. How is that even possible?Read more ›
But the treasure of this awesome book is in the examples and stories in the later chapters. I wish I had read this book a couple of years ago. From a number of books that I have read, it talks quite a bit about short selling and risk. In my opinion .. it is a five star book ..
Even though it was written some time ago, the methodology and tools it helps one creates are very current. For example, the Overbought/Oversold oscillator it helps one develop is the exactly the same as Helene Meisler from Realmoney.com uses to help readers out at that subscription site.
Easily worth the money and will make anyone a better participant in the market.
Yes, I like this book so 14 years after reading this book I was fortunate to be able hire Justin as my market technician when I became research director for a major regional firm. After working with him on a daily basis for a number of years, I can understand why institutions today are willing to pay a minimum of $20,000/yr. for his services.
One last note: I own a lot of investment books but "When to Sell" is the only book that has even been stolen out of my office. Not once but multiple times. In fact, I got so sick of having to replace it that I quit keeping it at work.
Most Recent Customer Reviews
OUT OF DATE, Market has changed too much in 20 yrs to be really usefulPublished 5 months ago by David H. Rieger
Lots of good info. Wasn't super precise, but it showed what he likes to look at for when to sell.Published 21 months ago by Robert Zaleski
I didn't learn anything from the book. It was revised from an older addition and not updated with information on effects of program trading and short selling or written with... Read morePublished on October 19, 2013 by Carol Norris
The book was shipped on time. Book was used,but in good shape. The book has good info. if you are a serious trader.Published on October 18, 2012 by Rex E
I read all of Mamis' books, How To Buy, and and Nature of Risk and When To Sell, a long time ago and continue to reread them today. Read morePublished on January 4, 2012 by Amazon Customer
I am relatively new to trading and I have read a bunch of books and have a pile of unread ones that I still need to work my way through. Read morePublished on May 27, 2011 by M Kramer
I think it's a novel about some studya cases. Beside the awful graphs (it's not that important if there would be good information, but it is not the case) the author just become a... Read morePublished on March 14, 2011 by Hector Carmenates