[Soultrader]

The best kept secret. In my opinion this is a book well known to professionals and not to amateurs. Most people lose money in the markets.

Originally published in 1931, this is a classic book focusing on tape reading and price and volume analysis. Why is this book so important? Tape reading and volume are pure information. Being able to read both gives you a tremendous edge over other traders. In my opinion it is as good as "Reminiscence of a Stock Operator". I have gained tremendous market wisdom by studying Neill's book over and over. Neill takes a true contrary approach as noted in one of his advices to investors: "beware of the crowd. When everyone thinks alike, watch out. They're probably wrong."

This is ranked 3rd next to Reminiscence of a Stock Operator and Mind OVer Markets in my all-time favorite trading book.

[wsam29]

After reading this book, it reinforced all the things I subconsciously picked up over the years of trading. Having not been introduced to tape reading, one does not know it exists and traders actually trade just looking at the tape. Having been "trained" as a chart trader, the be all and end all I thought at the time, I was looking for an edge or the holy grail, the progression of indicator searching begins!

The stuff Humphrey writes about still happens today, almost 70 years since the first publication and 3 revisions. Humans will behave the same way no matter what, they did back in the 1900's and they will from here on it.

I can now understand why there are indicators and charts, they were suppose to make trading easier but I have found that the market place and community is flooded with crap based on charts and indicators.

Was the introduction of charts and indicators a means to stroke the creators ego because of their new found method? I believe so, not to mention fatten ones pocket from the distrubution of their new creation.

Some topics that are covered in the book are the pace at which prices move, is an indication to do one of two things, stay in or get out. The quicker the tape moves, the quicker you should close a trade because the uninformed are most likey rushing in to make a quick buck from rapid tape action.

He explains about volume, price relation and general bits of wisdom and commone sense one should employ when trading.

The skill involved after learning about tape reading is real time interpretation of the tape as it is happening in real time.

I'm glad I picked this book up after being introduced by Soultrader. I overpaid for it but its already returned dividends to me.

[Blu-Ray]

Two good reviews there,

I just ordered the book yesterday, can't wait for it to arrive now

Cheers

Blu-Ray

[read_invest]

Hi.

Is the content much different in Tape Reading and Market Tactics by Humphrey Bancroft Neill Compare to the book Stan Weinstein's Secrets For Profiting in Bull and Bear Markets (Paperback)