Recommended books

I made a selection of only the best books. The books I like and would recommend to everyone are:

*Retire young retire rich — the best book I’ve read about money and the first I’ve read from the Richdad series. I got the others later, but this one is still my number 1. It opened my eyes and my brain.

* Money Is My Friend-nice little booklet with practical money tips.

*Dirk du Toit- Bird Watching in Lion Country — by Dirk du Toit, is a top selling forex course. It covers all aspects to become a successful currency trader.

*VolumePriceAnalyses — by Anna Coulling, volume and price together are the only indicators that truly reveal market sentiment and the activity of the insiders. Without it you are trading blind.
With it, everything is revealed. There is no hiding place with VPA

*Howard Marks- Mastering Market Cycle — the book focuses on one thing: market cycles. Why they occur, how to spot them, and how investors should use them to improve their returns. The book goes into great depth on the minutiae of cycles, and can often appear quite repetitive.

*Fx_wave — by James L. Bickford, the purpose of this book is to answer the most important questions of the technical analysis — where and when. Where one wave starts and another finishes? Where are the critical points for setting of the stop-loss and take-profit levels? When is the right time to enter a position and when is the best time close it?

*Harmonic trading books from Scott M Carney (Harmonic Trading: Volume One, Harmonic Trading: Volume Two and Harmonic Trading: Volume Three). Everything you need to know about harmonic patterns from A to Z, you will find here. Yet this man invented it.

Recommended brochures and magazines:

fibonacci-secrets by Jeremy Alexander Newsome, pivot points-all about them (daily, weekly, monthly, yearly)…

(I.M.)

Has daytrading become too difficult for ordinary people?

Trading is not honey and milk or an easy way to make money, but a LION’S FIGHT against big players and hedge funds, and sometimes a painstaking and, above all, BORING wait for something to happen.

The point is that trading is a “fine skill” that you must learn with as little external pressure and disturbance as possible, cultivating deep peace, absence of greed and above all HORSE PERSISTENCE, PATIENCE AND DISCIPLINE!

If you don’t have that, if you have pressures from all sides and imperative earnings, get out of the market both as a day trader and as a swing trader and maybe even as an investor. You will only lose money on paying brokerage fees, on bids and ask spreads, on entry and exit positions, all by trading against windmills, large funds and powerful financial institutions, trying to forcefully squeeze out earnings where there is none and missing out on the path of good opportunities because, blinded by the pressures and greed for big money that is imperative for you, you may not see them. Rather, hone some skill or open a business online or in reality.

FOR YOU WHO ARE STILL INTERESTED IN THE MARKET whether investing or trading (with or next to work) and after all the above warnings, I have one sentence of hope for you: THE PRICE IS HIGH, EFFORT IS NECESSARY, BUT IN THE END SUCCESS IS STILL POSSIBLE in spite of everything. It is true that it is not easy to reach it and that discipline requires complete subordination to the goal but it is possible to achieve it, it is just a matter of how long you can endure discipline and stick to your style, your game, your techniques and tactics you have developed and succeeded with ( because if you fail you need to change it until you come across the “right one” and develop your style that suits you) .. If you are persistent and patient you will probably be rewarded in the end.

(I.M.)

Slowed Monday-a few words about the topics that run through my head

We are witnessing new and great turning points. Something big is happening and maybe something even bigger will happen soon (this year)? In politics, society, economics or in all spheres? Change for the better or for the worse? A shift? Rise or fall? A new conflict or a civil war in the United States on the horizon? Big surprises, corruption, embezzlement, fraud or large-scale success … Opportunities for profit are often numerous, but for loss even more numerous? I hope you prepare a little or at least secretly for surprises so that you are not caught unprepared. … Activity is intensifying, markets are booming and things are moving. Whether it’s an upswing before another recession and a big downturn – or an actual recovery that will take time, depends on where you live and how you look at things. Mostly things are starting to develop .. that’s good because dormancy and insanity brings little good to anyone except retirees and that’s questionable .. The new COVID-19 vaccine will certainly have an impact on market developments, and Banks are a bit shaken and this market in general had a crazy climb of a few months. We’ll see what happens next.

(I.M.)

Introductory word

What’s this all about? About money, cash, euro, dollar and other foreign currencies. The guideline is this: why would you work hard for your money when it can work hard for you. You just need to know how. Send advice, compliments, suggestions or questions here or by e-mail. Thank you. All opinions and advice on this blog are my personal views written with the best of intentions, and are the result of my experience, knowledge, and the literature I read. I want to help you, but ultimately everyone is responsible for themselves in everything and so in money.

(I.M.)