Best book on day trading? stocks investing?
If you day trade or investor please share your best book on the subject thanks
- A nobodyLv 78 years agoFavourite answer
To be a trader you must first learn how to invest. You must know the products and the markets in which they trade, how security transactions are cleared and more importantly you must know the rules that govern those products and markets. So you must know what you’re doing, why you’re doing it, and how to do it. You should start by reading “Investing for Dummies” by Eric Tyson.
All traders are "day"" traders if the stock moves quickly in the direction they expect. A day trader is one that MUST sell at the end of the trading day. and very few professional and/or experience traders consider themselves as "day" traders.
Here’s a list of books you should consider, at least read half of them
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
How to Trade in Stocks, Jesse Livermore
Millionaire Traders, Lein & Schlosberg
One Up on Wall Street by Peter Lynch
Reminiscences of a Stock Operator, Edwin Lefevre
The Disciplined Trader, Mark Douglas
Trader Vic-Methods of a Wall Street Master, Victor Sperandeo
Trader Vic II-Principles of Professional Speculation, Victor Sperandeo
Trading for a Living, by Alexander Elder
Trading in the Zone, Mark Douglas
Before you enter your first order you need to address four major policies and have very strong discipline to follow them
1 - You need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. Always use stops either to protect you on the down side or to lock in profits on the up side. Never trade on emotions, when emotions get involved walk away. Don’t try to out-smart the market, you’ll loose but if you always take what the market is willing to give you, you’ll be successful. Other words, you don’t trade against the trend since the market is always right. And NEVER trade on emotions, once you let emotions in your trades you will loose
2 - A written money management program is essential. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested. Never go into a trade without knowing when and where you are going to get out of it. Never let a loss on a trade get greater than 8%-10%, always take you loss and walk away - don't loose more than you need to and don't be afraid to take the loss. Remember you never can get hurt taking a profit. Never average down, but you can average up.
3 - You must have sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade and/or invest. Margin can be used but only with restraints, never let the account wall below 45% equity. Unless you fully understand margins you should not use it.
4 – A full and complete understanding of the rules & regulations of the industry. If your going to play in the game be sure you know the rules of the game and always follow them.
Unless you are willing to study and follow the above you will never make it as a trader. To be successful as a trader it takes work and constant study of the markets and the products traded in those markets, there is no easy way.
GO WITH THE FLOW - Don't feel bad I have 45+ years experience on the street and in the past month I had over a dozen answers reported as :"violations" which deducts 10 points.
And there's :Common Sense" who is right at least 95% of the time always but always gets "thumbs down" votes - I'm getting tired of being the only one that keeps giving them "tumbs up"Source(s): from the street
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- 5 years ago
Despite their volatility, trading penny stocks can be extremely lucrative. Here are three ways that you can profit from investing in penny stocks https://tr.im/learnpennystock
The good news about penny stocks is that you can buy a good amount of shares without going broke. It’s thus easier to get a good stake in a company for less than you would pay for stock of a larger organization. To find a company that you feel confident investing in, make sure to do your research. Don’t just choose a company because you saw an article about it, or because your friend is investing in it.
- Anonymous6 years ago
Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/c8109
- 5 years ago
A common misconception is that you will have to be a financial and business expert in order to successfully trade binary options. However, this is not true at all. Learn here https://tr.im/BinaryOptionsStrategies
Perhaps it’s true when it comes to traditional stocks trading but definitely not true in the case of binaries. You don’t have to be an expert to predict the movement of certain assets.
- Anonymous6 years ago
the best trading software http://tradingsolution.info/
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
- Anonymous6 years ago
I'm earning good money with this binary option signal sofrware ( http://forexsignal.kyma.info/ ) What I'm going to show you now might irritate old-fashioned traders who can't accept that a piece of software can outperform what they have learned through many years of trial and error
- Common SenseLv 78 years ago
There is no single book of Day Trading that really covers the subject. Read 6-12 books on swing trading or day trading to start your education;
Learning to Day Trade can take on average 3-5 years. Most people fail. Don't try to find the quick easy answer to this. Many may offer a quick "strategy" or formula.... it will not work. Swing or day trading is not easy. It's very hard work.