Good Morning all
I`ve been thinking about learning about trading and all that that encompasses in order to see if it`s something that I wish to add to my portfolio and if not, at the very least to have a good grounding of knowledge about the subject.
With that in mind, I wonder if anybody has any recommendations on books, vids, learning material and the such in order to help me broaden my knowledge base that they would be willing to share ?
Many thanks in advance
Have a great day all
ATB David
There's a fantastic series of animated videos that might be of use here:
https://www.stockopedia.com/content/trading-amp-investing-animated-videos-financial-wisdom-536066/
That was exactly what I was going to recommend. The Financial Wisdom series is brilliant.
Just to mention that trading is very different from investing, but knowledge of trading skills can make you a much better investor in terms of knowing when to buy and when to sell.
Great stuff, Thank you, Indeed, I`m predominantly a buy and hold kind of guy, I `like to minimise churn in my portfolio as much as possible mainly for the minimisation of fees and charges and wanted to add to my knowledge base.
Morning David,
As mentioned, The Financial Wisdom videos are brilliant.
The Robbie Burns Naked Trader book is pretty fantastic imo for good solid trading groundwork and discipline. I've also attended one of his seminars and would 100% recommend.
I'm currently working my way through Mark Minervini's Trade Like a Stock Market Wizard book - which is more technical/charting based.
Hi David, Welcome to the community - you're in the right place to learn.
The book I definitely recommend you first read is 'The Naked Trader' - it is aimed at new investors and explains a lot of the basics. But most important it presents a sound formulaic approach that a beginner can follow and specifically teaches two very important skills:
a) Start using stop-losses so you sell your losing trades early (-8%); and
b) Hold on to your winners (people often sell too early and miss out on large gains).
These are crucial skills that a lot of us more experienced investors are still trying to do consistently. Over time you will find the investment style that works for you but the Naked Trader approach will help get you started.
Best of luck, and hope it's goes well.
Regards, Maddox
Hi Maddox and Mike
Many thanks for the Naked Trader tip, I`ll pop along to waterstones and grab a copy, I`ll add those two tips to my burgeoning knowledge base.
ATB David
