Posted on 08/12/2009 1:15:30 AM PDT by Slings and Arrows
I would very much like to learn how to invest my money in an informed manner - stocks, bonds, commodities, money markets, etc. The problem is that I don't know where to start.
Can any Freepers please recommend any books, websites, etc., that could help me get started? Assume that I'm starting from zero (not Zer0): I need to learn the language, the definitions, the data investors use in picking their investments, everything. I'm not looking to get rich overnight (although I wouldn't object); what I'm looking for is how to create a stable, long-term personal investment strategy.
Any help is appreciated.
Yeah, I know. I just can’t resist a silly joke.
Once you get the terminology down and understand how to execute the mechanics of basic trades you’ll have to deal with the most difficult component. Yourself.
There are several good books which delve into the psychological aspects of trading. One is “Reminiscences of a Stock Operator” by Edwin Lefevre. It’s considered by many to be the bible of trading. It reads more like a novel than some dry trading book.
Another great book is “The Disciplined Trader” by Mark Douglas.
Both books explore how a trader’s worst enemy is himself and discuss the importance of a plan, stops and rules.
They should be available through Amazon. Good Luck!
“I’ve been seeing this a lot lately”
I’ve seen it too, from multiple ISPs. I’m also getting occasional server timeouts.
“Much obliged. I was thinking about my experiences as a computer scientist.”
Uhoh - make sure you read those two books about trading psychology because if you are anything like me, you analyze the hell out of everything and that can lead to trouble in trading. Don’t ask how I know that :)
PM sent.
Nothing wrong with that. The hard part in investing is admitting your analysis was wrong and redoing it. It's far too easy to cling to a failed theory instead. On the flip side, it is important to cultivate your own theories and not rely on people with axes to grind. I have made plenty of mistakes following people with an emotional like or dislike for this or that. The best advice will come from someone who is completely unemotional about the situation.
“It’s far too easy to cling to a failed theory instead.”
That’s the crux of the matter I think. Emotions can be fatal in trading. Personally, I get into “analysis paralysis”. Stops are critical for me so that the emotion is removed from the trade and I take the loss before it becomes catastrophic.
best for the agent
Buried treasure appears to be a sound investment strategy. I mean, I’ve seen dozens of movies and documentaries about pirates burying their booty- only to forget where they left it. Even Gilligan’s Island featured an episode on the subject. Somewhere out there, just inches below the surface, lie untold numbers of hidden treasure chests laden with gold,silver, jewels and the occasional bottle of rum.
That’s what happens when your investment advisor is a squirrel.
Dear Freepers,
I have learned of a certain amount of funds
being invested by a member of your group, Slings and Arrows.
I would like some advice on how to get almost all of this money if not all.
Any help would be appreciated as there are many of my commrads who I would like to give this money to.
Thanks yo,
Barrack Hussein Barry Obamma
find a fee for service financial advisor. have him develop a financial plan for you. do not buy any prducts from that person. get a subscription to the wall street journal and barrons. good luck!
find a fee for service financial advisor. have him develop a financial plan for you. do not buy any prducts from that person. get a subscription to the wall street journal and barrons. good luck!
We switched to Schwab after Bank of Amigos pulled that stunt of pandering to illegal aliens, and we were happy to discover that their accounts are not leveraged -- no 0banka.
Hubby says that there are plenty of portfolio management tools, and you don't even need to have an account.
I hope you do well, my FRiend.
Dave Ramsey (on Fox & Friends as I type) has good advice.
Jim said they are *denial of service* attacks similar to what Facebook and Twitter had last week.
I couldn’t get on FR yesterday afternoon.
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