Archive for the ‘Stock Market’ Category
Friday, February 12th, 2010
If I had to choose one stock book to read first it would be this one. It does not over complicate the market at strips it back to basics showing sound investing advice. It provides you with plenty of tools and resources to gain a good understanding of the market.
The book covers: an overview of how the markets work, trading strategies (including 10 winning strategies), knowledge of spread betting, CFDs, SIPPS, top 10 invester mistakes and provides plenty of real life examples showing the good/bad and ugly of the stock market, experienced by himself and the readers.
The Author has been a journalist and writer since he graduated in 1981 and left fulltime work in 2001 to trade fulltime. If your new to the world of investing and don’t know where to start, this book is a must. There are plenty of books out there that will promise this system or that method will bring untold riches with little effort and in no time at all. This book does none of that. It sets out in plain down to earth English and with some humour, how to slowly, surely, and with safety in mind increase your wealth by trading shares. It’s packed with common sense.
Click here to buy this book: The Naked Trader: How Anyone Can Make Money Trading Shares
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Wednesday, January 6th, 2010
Yesterday while reading the naked trader I learnt a lesson that I’m sure will save my portfolio in the years to come.
That’s to learn to love selling shares at a loss. Yes that’s right you heard me right love to sell them at a loss. Stocks tend to move in patterns and trends and if you catch a stock at the wrong time you could be caught in the down trend. Cashing in your loss will allow you to keep your capital and move on quickly and not have to worry about watching it hit the bottom.
Luckily my commodities portfolio has not been too badly hit this year. Most positions are positive withe the exception of agriculture. I was stubborn with agriculture and have been holding my nerve to see it ride out the dip and slowly make its way back to where I started. Cutting my losses would have allowed me to keep the money, save all the headache and invest elsewhere. After all even the professionals make bad judgement and its important to know when to walk away.
So a simple lesson but one that many of us need a simple reminder.
Hmmm other thoughts are what Tesco are now launching the iphone on there mobile network, I wonder if this will have a mid term impact on the stock? Food for thought..
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