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Irvin Tarr - Stock Market Trading for Beginners

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Irvin Tarr Stock Market Trading for Beginners
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Stock Market Trading for Beginners: summary, description and annotation

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Risk comes from not knowing what you are doing This bit of wisdom comes from the most successful investor the world has ever known Warren Buffet (Otherwise known as, The oracle of Omaha) This book was written to give the non-professional trader a better chance to be successful and save them the crippling cost of entering the market in a wild and undisciplined manner. Above all, it can open the possibility for the readers to make gains beyond their wildest dreams. Whenever technical terms are first used in this book they are followed up by an explanation or definition of that term. In this guide the author has avoided using abbreviations except when they are used frequently or have been repeated many times previously. A dictionary of the more common technical words used in stock market Jargon can be found in the appendix. How to find all the others can also be found in the book. Explanations are in plain English. A dash of humor and fun is included. Dont ask why when there seems to be a bit of magic here and there.

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Stock Market Trading
for Beginners

Irvin Tarr

Picture 1

AuthorHouse UK Ltd.

1663 Liberty Drive

Bloomington, IN 47403 USA

www.authorhouse.co.uk

Phone: 0800.197.4150

This book is for educational purposes only and does not constitute financial advice in any form. It is an entry-level guide for individuals wishing to become involved in investing processes but does not guarantee profits to the reader. Investment in the stock market always involves risk. Prices rise and fall, and past performance is no assurance of future performance.

2014 Irvin Tarr. All rights reserved.

No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

Published by AuthorHouse 01/14/2014

ISBN: 978-1-4918-8532-1 (sc)

ISBN: 978-1-4918-8534-5 (e)

Any people depicted in stock imagery provided by Thinkstock are models,
and such images are being used for illustrative purposes only.

Certain stock imagery Thinkstock.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Contents

As has been said elsewhere this guide was originally loose notes compiled to record stock charts images, ideas, jokes, trading strategies and suggestions made by so many people that it is now impossible to recall all those who gave me useful information that eventually became part of the book. Nevertheless, I am sincerely grateful for all that input no matter how small the contribution was at the time.

I would like to thank Shaun van den Berg from PSG Online for his assistance in putting together Chapter 4 of this book which introduces Derivatives such as CFDs (Contract for the Difference).

Apart from the efforts that a writer puts into a book, success also depends largely on the guidelines and the availability of reference information such as I have received from companies such as Investopedia. I take this opportunity to express my gratitude for the information and knowledge that I have derived from this source over the past twenty years.

Of course, much activity goes on behind the scenes in bringing a book from idea to reality. I ran into a lot of difficulty at the time.

I particularly thank Martin Shoebridge of Fleet, Hants, UK for material he allowed me to use in Day Trading the Dow.

The author started this exercise in 1992 not having any idea that he would ever write a book to share the information with others. The notes in his trading file were compiled solely for his own reference. He also, initially, made almost all the mistakes that other rooky traders make. For instance, gambling may be a lot more fun than studying Candle Stick Analysis, hard work, stressful concentration and self discipline but the trader soon learns that it can also be a costly route to take. The author has done his very best to unmask the schemes and scams and false trails that exist on the internet.

The author makes no claim to having any fancy qualifications that could be directly associated with the stock or financial markets, as he does not have any appropriate academic qualification to impress you with. He did have fifteen years of experience trading successfully.

Chapter 1
Developing the Right Mindset

Many people who begin to trade on the stock market do so without any training at all. In fact, they may even do so without knowing where to start finding the information that they will need in order to prevent them from falling into the trap of gambling their money away. People are often lured into blindly putting money into trading stations and have ended up losing their deposits within the first few months of trading. This book was written to give the non-professional player (speculator) a better chance at being successful and to save people from the crippling cost of entering the stock market in a wild and undisciplined manner.

In this book I offer you the skills and knowledge to enable you to trade with confidence, knowing that you are using tools that will improve your chances of making gains in the trades that you enter into. Your success will depend on what you are willing to put into the venture in terms of learning about the tools and rules that should be applied. The subject is not in any way complex, but it would be prudent for you to research any unfamiliar mathematical terms that you come across in this book; for instance, you should know the difference between a simple average and an exponential average. Otherwise, what you are about to learn is more an art than a science.

One of the basic mistakes all new traders make is to attempt to become rich in a short period of time. If you started with 1,000 and doubled your capital monthly then it would take you less than a year to become a millionaire in any currency you may be using. However, it would be unrealistic to believe that (even if you were an accomplished trader) you would be able to achieve such a run without heeding advice on the recommended size of the stake you should risk per trade. Being reckless and irresponsible with your money at any juncture could make you poorer than when you began. However, if you have done your homework, if you follow the rules, and if you are able to control your emotions then you could eventually make gains far beyond your wildest dreams.

There are no legal get rich quick schemes that have ever worked for anyone except a few very lucky people. Many thousands of people every year get lured into pyramid-type selling and other dubious schemes. Most people who invest in such activities lose money. There are three basic reasons why they get lured into these schemes:

They long for the freedom of being wealthy.

They are greedy.

They are non-professional people with limited job opportunities, and they are seduced by hype and high-powered selling into believing that they can get rich quick, and, in so doing, they could break out of the financial cocoon that they have found themselves in.

Most get rich quick schemes can be mathematically proven to be unsustainable. Stock market trading shouldnt be regarded as one of these schemes; it is a business venture requiring skill, common sense, and guts. Many people who take the time to study the available rules and tools of the trade turn it into a lucrative business, and there are many skilled, disciplined people who actually trade for a living. You may begin to trade for one or more of the reasons detailed above, but the difference in investing in the stock market is that the system is sustainable, and the gains that are available for you to make are real and, for all practical purposes, limitless.

Because of the potential to make phenomenal gains trading the markets, the Internet abounds with schemes designed to relieve you of your money while you are on your way to achieving success. You could be seduced into using products that, miraculously, can tell you when to enter a trade and when to exit. There are claims to the invention of state-of-the-art systems or oscillators based on mathematical and ground-breaking genius. They often claim 80% winning hits. They provide for your view track records that look good and dozens of personal recommendations to seduce you further. Of course, you will have to pay them for this service. What they are doing is tantamount to saying, Come and put your money in our hands, and you could be tempted to do so for no other reason than that you wont have to do anything at all, except to trade when you are told to do so and then exit when you are told to do so.

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