Sniper
07-16-2005, 07:19 PM
Stuck in the Appendix of the book "Investors Business Daily and the Making of Millionaires" by David Saito-Chung is an outline of the 5 basic investment skills you need to master for investment success. The Appendix is the most useful part of the book in what is otherwise an interesting story of the history of Investors Business Daily.
The key is to learn how to master five basic investment skills:
1. Understand why only a few stocks in the market produce the biggest gains.
2. Knowing the market's direction, and timing your entry to catch a big upward wave and to head to cash during a large downswing.
3. Knowing how to choose and when to buy a good stock.
4. Knowing when to sell a bad stock for minimal losses and when to sell a good stock for big gains.
5. Staying positive and never giving up.
The appendix then goes on to describe how you can use the tools provided by IBD and O'Neils books to master those skills.
Definately recommended reading.
The key is to learn how to master five basic investment skills:
1. Understand why only a few stocks in the market produce the biggest gains.
2. Knowing the market's direction, and timing your entry to catch a big upward wave and to head to cash during a large downswing.
3. Knowing how to choose and when to buy a good stock.
4. Knowing when to sell a bad stock for minimal losses and when to sell a good stock for big gains.
5. Staying positive and never giving up.
The appendix then goes on to describe how you can use the tools provided by IBD and O'Neils books to master those skills.
Definately recommended reading.