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(More customer reviews)I've been out of work a long time, and I find it discouraging. I've bought several different books of several different kinds in order to try to get a start over. Of course, one big group of books are generally about "trading" for a living. It has some appeal. It isn't necessary to ask someone for permission to buy and sell shares of stock. Still, if it were so terribly easy, most people would make it work. Do they? Some statistics published for the Taiwan exchange a few years ago suggest that most amateur traders don't just lose SOME of their trading accounts. Something around 85% of amateurs lose EVERYTHING in a reasonably (or unreasonably) short time. So, in order to "not lose," you have to be better than 85% of the people. It turns out that another 10% or so of people just manage to waffle around, making a little, losing a little, and more or less breaking even. Only the top 5 to 7 percent of people make some money. A smaller group make LOTS of money. So, it isn't unwise to be in the top few percent of all trading practitioners---in order to make money. This, of course, is daunting. The value of the present book is quite great. Having scared myself silly with lots of statistics about nightmare trading, I can see the way a successful trader goes about it. First, he's not trying to make a fortune from a tiny trading account. That is, he isn't counting on doubling or tripling his account every year or two just to stay alive. Second, he isn't dependent upon the highest mathematical skills or the instantaneous news feeds that one might imagine to be necessary. He explains the tools he uses. He explains how he uses them. Most importantly, he explains the mind set required to do this particular business. The mind set required is much more light hearted than I ever get. It's all okay if it goes a bit one way or a bit the other. It's a game, and not deadly serious. Do you see? Yes, I see. However, for me that sort of thing IS deadly serious. It only means that this niche doesn't suit me. I'll be better off trying something else for now. That, I think, is a very good service. The REASON for me not to do this is not so much that my skills are wrong for it (I would gladly hone any new skill) or that my focus is weak. None of that is true. In actual fact, my temperament doesn't fit it, and it is neither possible nor actually useful to change one's own temperament to suit a niche. This is very useful information. I've had an e-mail or two with him, too. He's a splendid and pleasant fellow. It's a good idea to buy his book. It is nice to read it, too, but buying it is the first thing.
Click Here to see more reviews about: The Naked Trader's Guide to Spread Betting: How to make money from shares in up or down markets
Have you dabbled in shares or the stock market? And wondered what spread betting was all about and whether you should be doing it? Perhaps you thought it all looked a bit complex or was just for City boys? Now here is a new beginner's guide that explains - in plain English - how to do it, and how to make money from it! Spread betting shares can be dangerous: most people lose - some even lose their shirts. But it's not a world populated by pinstriped men waiting to rob you, steal your savings and do nasty things to small kittens. You can win. (And you never have to pay a penny in tax!) This book shows you how. Robbie Burns, bestselling author of The Naked Trader, has been spread betting for years. He explains why it's an indispensable tool to use alongside normal investing or trading. Especially as you can make money even if the market goes down. Robbie takes you through everything from how it works, to managing your risk, working out exposure, and how, often, doing nothing is the best move! He explains the ins and outs of successfully betting on shares in his trademark down-to-earth style, covering everything you need to know. From the simple stuff through to proven strategies, including those that can be used in different markets - it's all here. There are also behind-the-scenes visits to two top spread betting firms. But it's a big, bad old world out there, and there are a whole heap of mistakes you can make, an awful lot of money you can lose. Rounding up spine-chilling traders' tales of spread bets gone wrong, and using all he has learnt from making silly mistakes himself, Robbie also helps you learn what not to do. This is the ultimate guide to spread betting - how to do it, have fun and hopefully make a few quid.
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