What can I say about the book?
Jack Schwagers “Market Wizards” is without a doubt one of the most important books about markets, trading, traders and risk management and therefore you should read it.
The reason is very simple.
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What can I say about the book? The reason is very simple. The complete team of TheRiskBlog sends all the Best for the New Year, health, happiness and success for you and your family. Merry Christmas to everybody and always remember to take care of the risk involved in trading in 2010. If there was one big news this week, it was surely Warren Buffetts acquisition of Burlington Northern Santa Fe (BNI) railroad. But although the deal itself is interesting, another thing caught my attention. Did you ever think about the guys that work at NYSE. The ones sometimes jumping up and down on CNBC ? If you had a busy day and you cannot trade as long as usual, don’t begin to stress yourself. In this situation you won’t gain any advantage by trying to make your money in only half an hour. If you get nervous and don’t have much time left before you must leave your computer, your choices will reflect this. This quite old book from Edwin Lefévre tells us the story of fictional Larry Livingston. He started trading as a boy in Bucket shops and went on to became a very successful Trader of the early 20th century. But Livingston is the fictionalised Jesse Livermore, quoted as the greatest trader of all times. We’ve featured Livermore’s book “How to trade in stock” before in this blog. Nowadays it is by far more important to take care of your own investments than it was even just a couple of months ago. Help from the outside is going to fade away like this article shows. You need to take care of your own investment Today I discovered a pretty interesting video from Michael Covel (Author of: Trend Following) about Greed. In it he wonders why this attitude is usually seen so negatively. He takes the standpoint, that greed is a good side of human behaviour. And I can only agree with this! Seth Godin says its best in this post. It is the future that makes people buy stock it is not the past. Thats one of the reasons why technical analysis is overrated. It does look back, it does not look forward. When investing |
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