Talk Your Book: Trading with MarketSmith

This week’s Animal Spirits: Talk Your Book is sponsored by MarketSmith:

Go to www.investors.com/animal to receive your first three weeks of the MarketSmith service for just $19.95.

We discuss:

  • Wiliam O’Neill’s system for buying stocks
  • The psychology behind becoming a trader
  • What’s harder: Letting winners run or cutting losses short?
  • Why it’s so hard to become a successful trader
  • Buying bargains vs. buying high priced stocks
  • Why becoming a full-time trader is a pipe dream for most
  • The difference between traders and investors
  • The simple but not easy formula for buying stocks
  • Why it’s so difficult to buy stocks that are already going up
  • How the CANSLIM system works
  • The importance of position-sizing when trading
  • The backstory on Michael’s trading career
  • Should Michael take a stab at trading again?
  • Why personality type is so important when figuring out what type of investor you are

Listen here:

Books mentioned:

Charts mentioned:

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