Saturday, 4 January 2014

Stock Market Books for Beginners

            Reading books is one of the most underutilized tools that people seem to neglect with the popularity of the internet. Yes, the internet grants you access to an almost unlimited amount of resources, but you are bound to open tabs that will distract you versus a book that requires you to be separated from any screens and that in turn allows you to fully concentrate on the matter. Check out these stock market books for beginners!
            The first book that I recommend is not an easy read, it’s quite long, but almost anyone on Wall Street will recommend this fundamental read and that is The Intelligent Investor by Benjamin Graham. If you’re going to start a book collection, you would be a fool not to have a book that is considered to be the bible of the stock market and one that has received endorsement from one of the greatest traders of all time, Warren Buffet. This book isn’t necessarily about how to pick stocks, but it does teach you personal rules of investing that will keep you out of trouble in the future.
            An easier read is Tim Syke’s, An AmericanHedge Fund: How I made $2 Million as a Stock Operator & Created a HedgeFund. This book won’t teach you how to trade (most books are outdated in this regard, you’ll have to look on the internet for more up to date information), but it will take you through the life of a famous penny stocker, showing you the decisions he made on the way up and the mistakes he made that lost him a lot of money. The stock market brings losses to everyone in it and it’s important to learn more from mistakes and with Tim’s enthusiasm, it makes it an entertaining and quick read.
            And lastly, this book should be the book that will teach you how to trade, how to have the right mindset/psychology when trading and how to survive in the market. What book is this? Meet The DailyTrading Coach: 101 Lessons for Becoming Your Own Trading Psychologist by Brett Steenbarger. The life of a trader is far from easy and there will be moments of mental struggle and emotional conflict. This book aims to help you find your strengths and weaknesses and put you in a frame of mind that will help you succeed by working with what you got. Hope you enjoyed this easily digestible list of books that every beginning trader should read!

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