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/biz/ - Business & Finance

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584068 No.584068 [Reply] [Original]

Hi /biz/ i am looking for some help in stock trading and economy in general, i am wondering if you guys have some books on the subject or something to help noobies like me.

>> No.584074

Books aren't going to help you. Trading requires a great amount of luck and just being born with the right intuition. You don't read a book on how to become a QB like Tom Brady, or how to be a CEO.

>> No.584077

>>584074
The Intelligent Investor by Benjamin Graham.
GG.

>> No.584083

>>584077

Hurr Warren Buffett's professor I must read this to be like them

>> No.584151

>>584074

First step, think the opposite of this guy. Crabs in bucket want everyone else to fail at what they don't think is easy.

Second, emotional control. Fear and greed roll and push the market. You need to find a balance between not being a greedy bastard and not being scared of taking risks. This CAN be learned. It's a psychological paradigm shift that you won't really realize until you have your livelihood riding on it.

Speaking of livelihood -

Money. You spend it to make it, true. Where people fuck up is thinking that the objective is making as much as possible. No. Fuck no. You start dreaming about becoming a gorillionaire in a day, you'll be eating lima beans innaghetto before next Easter.

Here's what you need to burn into your fucking ventricles: It's not about making as much as you can as fast as you can, it's about NOT LOSING it.

The wealthiest people in the world, who know that the fuck they're doing and actually know how to get it on their own accord, aren't just really good at sniffing out cash. They know how to not go broke by not blowing their accounts on shit they can't afford. They know how to not scare their own money away from them and wake up in the morning afraid to look at their bank balance.

You know what the biggest misconception is? That money can be "lost". It can, yeah, but not in the way people think. You can lose money if someone steals it from you with a gun or assumes your identity. That's about it.

The rest? It's spent. You got to Vegas, you don't lose money. You SPEND the money in Vegas. No one's making that guy bet his house at the card table. He made that choice. Develop the kind of relationship with your money that compels you to take 100% ACCOUNTABILITY for every dime that leaves your pocket, and you may surprise yourself at how much slower you go broke.

Set a floor. Say, "I don't want to lose more than 20% of what I have today". Then, assuming the universe doesn't shit on you, what happens? You have 80% of your cash.

>> No.584155

>>584151

(Cont'd)

Read a book called The Richest Man in Babylon.

Shit's good. It says things eloquently that I can't do justice to. One of the biggest lessons? The fool chooses gold over wisdom every time. People want the cash up front instead of the stuff that makes cash infinite. Fucking retarded, right? That's why you don't do that. You read that book and learn something you can use for the rest of your life. Richest Man in Babylon, nigga.

Now go out there and not be a dumbass with your wallet.

>> No.584179
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584179

>>584083
>Hurr

>> No.584181

>>584179
>having a picture of that on your computer
>acting like you're mature

>> No.584259

>>584068
dont listen to all the BS about low risk long term investment

http://www.r-5.org/files/books/trading/speculation/Jesse_Livermore-How_To_Trade_In_Stocks_%281940_original%29-EN.pdf