Hi All
I dropped quite a lot of money on trading, therefore I thought it'd be better to spend some money on eduion in stead of loosing them online markets. I attempt to read about various markets although am interested mostly in FX
So far I read, or have in my own library waiting to be read:
The Little Book of Common awareness Investing: The Only Way To Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits) by John C. Bogle
my first book about markets I read, and quite interesting. I've few grands in HSBC indice trackers (FTSE, Pacific, Japan, SP500 and British gilts) on iii platform
The Little Book of Currency Trading: How to Earn Huge Profits in the World of Forex (Little Books. Big Profits) by Kathy Lien
interesting book, easy to see
The Little Book of Commodity Purchasing (Little Book, Big Profits) by John F. Maudlin and John R. Stephenson
It was very easy to read and interesting book, and gave me a Fantastic view on commodity market, which amuses me but I can't exchange on it
The Little Book of Economics: How the Economy Works in the Actual World (Little Books. Big Profits) by Mohamed El-Erian and Greg Ip
good to understand things;--RRB-
Currency Trading for Dummies
book has lots of knowledge about FX but is quite boring;--RRB-
Technical Analysis for Dummies
I'm reading it now, seems to be fascinating so far
The Bogleheads' Guide to Retirement Planning by John C. Bogle, Taylor Larimore, Mel Lindauer and Richard A. Ferri
Interesting book, but with attention on American realities, nevertheless worth to see
Trading in the Zone by Mark Douglas
The book Is Quite interesting, and I learned a lot from it, but is a little too long, after reading half of it it seems like author is repeating same thing over and over again, and also the real meaning of this book could be written on few A4 pages, anyway I'm glad I could read it
365 Ways to Live Cheap: Your Everyday Guide to Saving Money by Trent Hamm
good book about cheap dwelling, but a Number of the thoughts like how to make personal washing powder appeared to be dumb
The Simple Dollar: Just One Person Wiped His Debts and Achieved the Life of His Dre by Trent A. Hamm
same author but the book more interesting than the one preceding
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb
I bought this book and was frued with it I eliminate it. It appeared for me like the most important reason to write this book was to show off with oh, ah posh language, dropped of words, no content. Some people like it, I do not
Market Wizards: Interviews with Top Traders by Jack D. Schwager
good book with fine stories, but after reading half of it I had enough. The stories are different, but seem to be somewhat similar. I stopped when I got to narrative of a guy that got some stocks from his father on 13th birthday, and because then markets were his life - somewhat pathetic for me personally. I'll likely return to remainder of stories, but this one was like reading about somebody's unhappy life
The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley Ph.D. and William D. Danko
this book changed the way I am looking at life. I understand that having typical life is better than living like a king, I don't need to dwell in palace and drive expensive cars, that life is about something more than money
Trade Your Way to Financial Freedom by Van Tharp
a really good book, it's little boring but includes lot's of knowledge, and will read it
Super Trader: Make Consistent Profits in Good and Bad Markets by Van K. Tharp
I'm reading it now, really excellent book, that targets many important thing in trading - mindset
Jim Cramer's Real Money by James J. Cramer
It is waiting to be read, appears to be interesting
Whoops! : Why everybody owes everyone and no one can pay by John Lanchester
waiting to be read, but also appears to be interesting
All them novels I read within a year. Please let me know if there is something else that could be good for me to read or should I focus more on working on myself?
Below I could write something about me personally, however, there won't be any queries, it is going to be rather about my life, my dre, my plans, so you might skip this part since the matter I needed to ask is over;--RRB-
Why do I wish to exchange? Since I really don't feel safe, financially safe. I believe that hard times are coming and the best years Europe has behind. Now it'll be only getting worse, many of countries on the planet are moving deeper and deeper into debts that they will not have the ability to pay, sooner or later something awful will occur.
I want to feel safe to secure my loved ones. If I were single I would not bother that much, however, I've a minimum of two reasons: my spouse, and my son.
What are my dre?
Of course the most important is health, and happiness, without joy or health no money will suit you
I'd like to retire by the age 55-60 years old. I really don't wish to work till the end of life (assuming that I'll live more then those 55-60 yrs), I want to secure future for me and my spouse, as I don't feel that in 25-30 years there will be something like state retirement, benefits and individuals might need to rely only on themselves.
By this time I'd like to become mortgage free with 3 bed detached house in some nice area away from chavs blaming immigrants for the fact they're unemployed (like they tried to get a project ), junkies, pissheads, drug addicted individuals, to have a small car, to have the ability to go to nice restaurant once for some time, to have an normal lifetime, nothing outstanding.
Quite often I'm browsing zoopla or right move, check house prices and continue telling myselfif other people can manage it must be a way for me in order to get it as well
I wish to secure future of my son as well, to give him good eduion, to point him in a good direction.
If it'll be possible I wish to help my parents, mother in law, sister and sisters and brothers in law.
more than this is a bonus
some people can say it is impossible, but my entire life belongs to me, I want to test, and even When I won't succeed I will know I tried, I was looking for a better life
concerning my financial experiences:
so far the best profit I'd was on bank ISA account;--RRB-
I started playing demo FX accounts around two years ago, constantly wiping accounts, playing like a lunatic, without any plan, with no knowledge, treating it like gambling and nothing else.
A bit more than year ago when silver was flying high I had been reading different posts about silver, that by the end of the year it'll go till 70-80$ per oz, some s-f fans were saying about silver being equal with gold (what a pile of ****). So I tried. I invested 500GBP in oanda account. Within two weeks I switched 500GBP into 4k. How? Just luck. I had been gambling for half the account free of stop loss, with no tp, and departing the account like this, going to bed, waking up happy (the best night I earned around 2k). I had been so confident that silver will fly till at least 70$ that when it went down I had been convinced it's only temporary and was keeping long positions. Within about 2-3 days I dropped all, all that I earned, and also the 500GBP that I invested on start.
But it was not the ending. I was upset that I dropped, and was attempting to get it back. I sent a second 500 for my account, and then another 200;--RRB-
within about 6 months I dropped 1,2k, I had to work for a month for it. How can I feel then? I felt that I disappointed my loved ones, my new born son, my wife, myself. I will never forgive this feeling of being idiot. Now I look at it like it was an expensive lesson, like performing some course in school.
Since then I had been reading novels, enjoying fatherhood, working hard.
This spring I started playing demo . On EUR/USD only. And my idea worked. I could do 100% a month (two months in a row only and then went live). My egy? Simple: awaiting news releases (only those marked with red and orange star onforexintuitivemain page and only those associated with eurozone and conditions ) and gambling all of the wallet according to news. TP on 20pips (what gives 7% profit), no SL, but using a mouse ready to prevent trade anytime. Why this way? As when I had been trading with SL trend was always turning back after hitting my SL. This way I was risking a lot, but it worked for me personally, and in fact, when I could see I had been loosing I had been shutting. Sometimes loosing 5, sometimes 10 percent, but it had been perhaps every 5-7 transactions or more.
I went live. With 100GBP only, to test this notion. Within two weeks I moved to 136Quid (I was at 170, but such is life;--RRB-). There was a strong tendency down on a single day, so I stopped at 92 quid. I should have switch off computer and leave it till next day and I would return. But I needed it back fast. So I did the stupid think I could. I went to exchange silver. I made a bet with trend, and right after I did it trend (that lasted for hours) return. I lost 50% of this 92GBP, and then I dropped oil again 50% and so on. If I were sticking to the egy I would still be in exchange, but by greedy, impatient nature won. Now I want to devote few months on demo, to check my system , and most important to work on myself. Will also remove commodities out of my oanda account;--RRB-
In the meantime I expect to read some more books, to get some more awareness
Probably not many of you lasted till the finish, sorry for long and boring narrative;-)