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Discussion in 'Investor Resources & Tools' started by talbashan, 14th Oct, 2005.

  1. talbashan

    talbashan Well-Known Member

    Joined:
    21st Sep, 2005
    Posts:
    58
    Can anyone recommend a good book/books on investing and trading in the share market?
    There is such a large choice out there, that its hard for a novice to sort out the good ones from the bad.
    I have units in the Navra fund but would like to further educate myself on the subject and maybe try some of my own gambling... :)

    Thanks in advance..
    Tal
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
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    Lesson 1 - don't gamble :D

    I think you could do a lot worse than subscribe to the Intelligent Investor newsletter. They have a 3-issue free offer so you can try before you buy.

    Great stuff and covering a universe of small and mid-caps which you don't get exposure to through NavraInvest.

    They take a Buffett style value approach. In fact they have some satellite sites www.new2shares.com.au , www.warrenbuffett.com.au , www.incomeinvestor.com.au , www.agmcalendar.com.au etc

    Check it out.

    Books - I think the Masters of the Market (there's a new version out recently) is a good introduction to what's worked for some prominent Australian investors.

    N.
     
  3. Steve Navra

    Steve Navra Well-Known Member

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    195
    Try DCT (In the InvestEd Paedia) :p
     
  4. Jayar

    Jayar Well-Known Member

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    Hey, Steve,

    Better still....try under 'Education' :D :D :D

    And, Tal, it IS a good read, and fully deserves to be filed under 'Education'.

    A MUST !!!

    Jayar
     
  5. Bob

    Bob Well-Known Member

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    131

    Lesson 2 - Sell all Navra shares and place money on favourite in the caulfield cup. Pump money back in at post distribution price...

    The favourite has won the last 4 Caulfield Cups

    2001 - Ethereal
    2002 - Northerly
    2003 - Mummify
    2004 - Elvstroem

    Bob
     
  6. talbashan

    talbashan Well-Known Member

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    Posts:
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    hey steve..
    read it... very good shpeal but i'm not sure how to apply it practicaly. i see no use in trading the shares that the Navra fund trades (might as well let you guys do it) but would like to try more volatile shares that don't answer your selection criteria (with smaller amounts of money of course)... there has to be some way of hedging in order to minimise losses..
     
  7. talbashan

    talbashan Well-Known Member

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    thanks Nigel, i'll have a look at those.
    tal
     
  8. Steve Navra

    Steve Navra Well-Known Member

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    Posts:
    195
    Hi Tal,

    During 2000/1 I gave out a beta version of a trading system to my clients called MTS. (Margin Trading System)
    In principle, it employs the same trading philosophy as NavTraDE . . . without the sophistication of the algorithm, of course :p (Perhaps some of the other members who used MTS might share their experiences in reply to this post.)

    I will happily supply you with a version of MTS if you want to do some trading for yourself . . . HOWEVER a word of WARNING:

    The essence of trading on a countercyclical basis (Buying as the price decreases and selling on the increases) is vitally dependent on the soundness of the stock selection. The fundamental accounting analysis of the shares is of critical importance . . . for to lose a stock (The share folds) would result in a debilitating loss.

    Small caps etc . . . constitute an unnecessary and unacceptable risk with this trading methodology.

    Regards,
    Steve
     
  9. Steve Navra

    Steve Navra Well-Known Member

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    Ahem . . . yes :eek:
     
  10. talbashan

    talbashan Well-Known Member

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    thanks Steve,
    I guess its like many other interests.. a begginer just doesn't know where to start. You yourself say that so much of the information out there is flawed and subjective, so where do you start? who do you believe?
    Maybe i'll pick up the guitar again.. :)
    talk soon
    tal
     
  11. Tropo

    Tropo Well-Known Member

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    Location:
    NSW
    talbashan,
    Books :

    Christoper Tate - The Art Of Trading +Taming The Bear + ( options, futures )
    Daryl Guppy - Share Trading + (and other of his books )
    Dr. Aleksander Elder - Trading For A Living
    Stan Weinstein - Secrets For Profiting In Bull And Bear Markets
    Tony Oz
    - The Stock Trader
    Howard Abell - The Day Trader's Advantage
    Nicolas Darvas - How I made $ 2 000 000 in the Stock Market
    Steven B. Achelis - Technical Analysis From A to Z
    THE MUST = Edwin Lefevre - Reminiscences Of a Stock Operator
    I guess that's enough to start with.

    If you are serious about trading I might be able to post a few trading rules.
    :cool:
     
  12. Nigel Ward

    Nigel Ward Team InvestEd

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    But surely if it's only Tal's "gambling money" he would by definition be prepared to lose it all... ;)

    I guess liquidity with small caps would be problem too...

    perhaps mid-caps then :cool:
     
  13. talbashan

    talbashan Well-Known Member

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    21st Sep, 2005
    Posts:
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    Tropo
    thanks for the list. if you have the time to post some trading rules I'd realy appreciate it.

    Nigel
    any money i'd put into shares would be money that i could afford to lose.... that does not mean that i'd like to lose it.. :)

    thanks for your replies
    Tal
     
  14. Tropo

    Tropo Well-Known Member

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    Location:
    NSW
    Talbashan,

    Give me a bit of time....
    I will post it as a seperate thread.

    Nigel,

    You are 101% correct !!!.
    :cool:
     
  15. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Location:
    Brisbane
    Tal,

    The best books I have read on shares (not that I've read many) are:

    The Warren Buffett Way by Robert Hagstrom
    Common Stocks and Uncommon Profits by Phillip Fisher
    Buffettology by Mary Buffett

    I've not read any trading books as I'm not really interested in trading stocks myself.

    Mark
     
  16. Medine

    Medine Active Member

    Joined:
    22nd Aug, 2005
    Posts:
    31
    Hi Talbashan,

    Louise Bedford's books on trading are really easy to read. Some titles are:
    "Trading Secrets"
    "Candlestick Charting"
    Look out for hers at your city's investors bookshop, or at Borders.

    Cheers, Medine
     
  17. Andrew

    Andrew Active Member

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    Location:
    Moonee Ponds
    I have read a lot of books on the subject, the best I have ever come across
    by a large margin is Dr Van K. Tharp's Trade your way to financial freedom.

    If you look past the cheesy title there is plenty of interesting stuff that most
    other books don't even mention such as expectancy and position sizing.

    andy