"Day Trading For Beginners: How To Quit Your Job And Get Rich", lol. More like how to lose a fortune. Don't believe this cr@p. Over the long run 99% of the smartest people on Wall Street can't beat a buy and hold strategy using the S&P 500. The 1% that do usually get busted for insider trading.
Our 401 tanked like everyone elses in 2008, but we just sat tight and now it is up almost 500% over the past 6 years. I laugh and people I know that think they have it all figured out and make great money with their jobs only to lose it trying to play Wall St pro. Buy good stocks and don't freak out at the first sign of trouble.
The average Joe buying stocks isn't going to beat the major indexes. That said if you set a small amount of money that you can afford to lose aside and invest in companies you care about it can be an interesting hobby that won't bankrupt you but this isn't day trading. Remember people who got in early on Apple, Microsoft, ect... Serious money can be made but takes a lot of research and even then the odds are long. It does make you think about investing alternatives which is better than being investing oblivious. Just keep your expectations and risks in check. Understand the downside and how to minimize it whenever possible.
My logics work like this - if their strategies were working, why did they bother to share these "secrets" to others in order to make few bucks by selling a copy?
Won't they get richer everyday from the trading if their strategies work? Or they get richer everyday by selling these copies?
Comments & Reviews (9)
If you already have $10M.
This book would have been good a few years ago.... maybe
Won't they get richer everyday from the trading if their strategies work? Or they get richer everyday by selling these copies?
lol
Thank you!