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Tom Dorsey's Trading Tips
Book

Tom Dorsey's Trading Tips

A Playbook for Stock Market Success

Thomas J. Dorsey, Watson H. Wright, Tommy F. DeRosier, Susan L. Morrison and James C. Ball
Bloomberg Press, 2001
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Honestly, there are not too many books in the personal investing genre that we’d recommend for serious investment advice. But if you’re a serious investor considering a venture into short-term trading (formerly known as day-trading), you’ll benefit from the wisdom, mind-boggling detail and dizzying array of charts presented here. Tom Dorsey likens good investment advice to a sports playbook that a coach can follow through the twists and turns of the game. The plays and strategies that they outline will be valuable for novices, but getAbstract figures that they will challenge trading veterans as well. You need to do some homework (like following the indices and making charts) to work with this book. Dorsey and crew urge you to learn stock-market basics, govern your emotions, understand the psychology that drives investors and avoid common mistakes, like investing based on trends and hot tips. And, don’t mind their sports jargon; it’s just a framework to make the uninitiated feel comfortable.

Summary

Market Technology

Your emotions inevitably influence your decisions as an investor. Not only are the simple acts of buying and selling inseparable from emotion, your choice of stocks and your strategies are, too. So, it’s important to understand market psychology. Do you find the newest stock on the block irresistible? Do you buy stocks that are down in the dumps, feeling that you’re automatically getting a bargain? Are you influenced by market trends?

You can develop confidence in your stock market decisions by using investment research methodologies, including point and figure charting. This proven, objective strategy is based on the fundamental laws of supply and demand, not on superficial market trends. When you learn basic strategies - such as how to evaluate technical pros and cons or accurately compare your stocks to market leaders - as well as more advanced strategies regarding short-term trading, options and indices, then the terms and the processes of stock market trading will be demystified. You will be in a better position to make profitable decisions.

Charting

Learn to combine technical and fundamental analysis, so you can decide not just...

About the Authors

Thomas J. Dorsey conducts risk-management seminars for brokers throughout the world at major stock exchanges and investment firms. He is the author of two prior books, Thriving as a Broker in the 21st Century and Point & Figure Charting: The Essential Application for Forecasting and Tracking Market Prices. He has also written articles for such publications as The Wall Street Journal, Barron’s Fortune and Bloomberg Personal Finance. He is president of Dorsey, Wright & Associates, Inc., an investment advisory firm in Richmond, Virginia. The other authors are associated with Dorsey, Wright & Associates, Inc.

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