Here are some of my favorite books on trading and investment: The Little Book that Still Beats the Market The Little Book of Common Sense Investing The Intelligent Investor The Millionaire Next Door The Five Rules for Successful Stock Investing Any other suggestions from your side?
The millionaire next door, bought it, left it unread, after fade facts / statistics showed page after page, like, ,, 3 000 US millionaire famillies never buys a car that is more expensive ,than 10% of their total capital '' ... ( or something like that ), I was strugling with Intelligent Investor at the pace of 30 pages per day, since english isn't my native language and all those new terms,... that was, agonizing, but i beated the thing. 8 or 10 books as well. Little book that still beats the market too. Peter shares some key points for fundamentals, IE, KO earnings went 80 folds up, same did the price, simple. As for the rest, you should exchange books for the screen time and ammount of trades, like start to pay really close attention to technicals & pure price action in different timeframes, once your pchicology is in place. ( like you no longer suffer from fomo attacks ) Road of the Turtles you might wanna check, tho i strongly question some of authors statements, ie : ,, you have to be ready, to be down 70% on your portfolio'' Or ,,go short only when 50 MA is below 300 MA, and go long only when 50 MA is above 300 MA.''
His strategy worked 30+ years ago but today is different. Just like his vehicle of choice is good back then but today volvo lol.
Well, then, just follow the thrend as they say. Btw, could you link a video of someone who got working strategy and has no volvo ?
Checkout warren buffet, ever heard of him? He doesn't drive a volvo ... Lynch's strategy works well 40+ years ago looking backwards, with hindsight on your side. Especially if you're 20-30 yr old, technology illiterate.
Lylec, his a master of avoiding simple answers , i need someone, more open about the truth, like Ray says, radical openness ( or truthfulness ? ) & transparency. That's whom im willing to learn from at this stage.
"Or something like that..." I'm very curious as to what issue you have with this statement. Even with broad alterations (given that you can't remember it precisely), it remains "do not burn capital on a depreciating fashion statement of mostly sheet metal and paint". You have an issue with that?!? The book was published in 1998. Mercedes went for $35k+, a Grand Caravan minivan was ~$20k. An economy sedan $10k-$15k. If your salary was $100k, and you lived off of $50k, then absent ANY earnings, you'd be a millionaire in 20 years. And you'd be driving an economy sedan. "Capital Preservation" man. Learn it; live it. Or lose it.
Go ahead, use Lynch's 40+ old strategy. No one is stopping you. You'll pretty old when you find out if it worked for you.
Given the fact my intention was to learn trading while reading it, ( as the topics authors as well ) ,statistics like that, provides me zero to small ammount, of practical advices / techniques / knowladge , that i can put in use / implement right away. That is two edge sword question because author mentions investing as well. Then it's usefull. But for trading. Hmnn. In some way , this reminds me, of discussion somewhere in forum, is it gambling or not, wheres each one had their own opinions.
Im not using his strategy ; because of AI, in 40 yrs this might be just a memmory of how it used to work.