I'm just looking for a good website or book to educate myself on investing money, something simple like a dummies guide or a beginners book.
2007-01-10 18:28:15 · 7 answers · asked by devp444 1 in Business & Finance ➔ Investing
Congratulations on attempting to learn investing at such an early age.
Let me share with you a little rule that Albert Einstein once claimed was "the greatest mathmatical discovery of all time". It is called the Rule of 72. It is pretty simple...
If you take an interest rate and divide it into 72 you get the number of years it will take your money to double.
For example, lets say you have $40K to invest if you were to get an interest rate of 12% your money would double every 6 years. So your 40K would turn into 80K in 6 years, 160K in 12 years......and $1,280,000 in 30 years.
Keep this rule in mind as you make your investment decisions and you will do quite well.
As to what areas to invest in. The stock market has done quite well for the past couple of years and mutual funds allow you to diversify your portfolio. Personally, I have been having the greatest amount of fun and success in the foreign currency market.....Forex.
What is really nice about Forex is that you can open a practice account while you are learning and not risk any of your money.
In fact I am assembling another Trading Team to evaluate some Forex trading strategies. You would be most welcome to join the team and learn along with us. Just drop me a line if interested.
Best wishes for a prosperous 2007!
Paul
http://www.teampip.com
2007-01-14 05:36:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.
However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/16635
It's probably the best way to learn how to win with binary option
2015-01-25 09:51:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, you would talk to a banks funding consultant and in addition an funding brokerage consultant. I consider they are extra knowledgeable than the ordinary banker. I'd begin paying down the debt....that is plenty of cash, $40K. I'd repay approximately $two.5K and positioned the stability to paintings. An competitive IRA probably how one can move, in spite of everything, you are simplest 21 . Good Luck
2016-09-03 20:21:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hi,
I think those books would be very useful. And please note there is nothing simple.
Market Wizards by Jack D. Schwager;
Technical Analysis by Jack D. Schwager;
Comprehensive Course on The Wave Principle by A.J. Frost and Robert Prechter;
Candlestick Charting Explained- Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris;
Trading Chaos – Applying Expert Techniques to Maximize Your Profit by Bill M. Williams;
New Trading Dimensions by Bill M. Williams
Trading Chaos II by Bill Williams – Maximize Profits with Proven Technical Techniques by Justin Gregory-Williams and Bill M. Williams
Most profitable business is trading shares or forex. Why don’t you start your own forex or shares trading? I could introduce you to one brokerage company in Austria that allows to trade online from same account currency (forex), commodities, metals and cfd on shares. Total 500 instruments available; spread from 1 pip. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years.
Currency (forex) trading is attractive because it is very high income and you could trade from any place in the world and at any time from Sunday night to Friday night. So you could create really huge income.
If you are interesting and/or have any question please pm or e-mail me (press on my name) and I provide you with further information.
Good luck!
2007-01-10 19:47:55 · answer #4 · answered by VP 3 · 0⤊ 0⤋
Why don't learn how to trade currencies? Dr. Alexander Elder and Cornelius Luca have some great books on trading. And on www.oriontrading.org you will find great trading course. Their basic course is even for free, but to increase your results you got to take the advanced course as well. (It is nice to see that it is smart people out there who understand that they need to educate them self instead of just gamble. Good luck brother.
2007-01-11 02:59:34 · answer #5 · answered by Kenny 1 · 0⤊ 0⤋
I just started reading a book by CNBC's Jim Cramer about investing. Its a good read for a beginner.
2007-01-10 18:48:01 · answer #6 · answered by Robert R 2 · 0⤊ 0⤋
the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
2014-12-19 02:08:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋