Reddit Reddit reviews A Short History of Financial Euphoria (Penguin Business)

We found 3 Reddit comments about A Short History of Financial Euphoria (Penguin Business). Here are the top ones, ranked by their Reddit score.

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A Short History of Financial Euphoria (Penguin Business)
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3 Reddit comments about A Short History of Financial Euphoria (Penguin Business):

u/Robswc · 18 pointsr/Daytrading

>$250 into $5k

Setting goals isn't a terrible idea, however I will say that a 2000% (non compounding) increase is something the best traders would give their arms and legs for lol.

For reference, this is something I was able to do after lots of learning and experience.

https://twitter.com/robswc/status/1093328001243189248
https://twitter.com/robswc/status/1082782861869109253

These were more done algorithmic than manually trading BUT point still stands.

With that said, you could hit 180% gain in one day with options.

The problem you'll find is that being consistently good is really really hard. What you're essentially setting out to do is consistently win an near random "coin toss".

That's going to take a psychological toll, its going to be grueling but not impossible.

>But I would like to learn the market. Any tips on how to start? What should I start researching? Can I even start trading with that little amount?

$250 is fine starting out. In fact its perfect as starting out there's a possibility you could lose it all, so starting with a small amount is fine.

Don't look at $, look at %. If you can make 1% you can make $100 or $1000. Once you consistently hit %'s, you can increase your position sizes. Keep risk in mind while doing this though.

I would start with paper trading first. Since you're 17 you're not legally allowed to trade. Also, with $250 you can't day trade (PDT rules). So paper trading would definitely be your best bet.

You could also give crypto a try, many exchanges don't really have KYC. A lot of the basics can carry over into any markets.

As far as stuff to learn, these are some of the best books I've read on the subject. You may notice they aren't technical or any "strategies" so to speak. I find those books never help, the mindset and thinking is going to be your biggest challenge.

Trading in the Zone, By Mark Douglas - https://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447

Fooled by Randomness, by Nassim Taleb - https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219/ref=sr_1_1?crid=13LH3VBFX62OH

Skin in the Game, by Nassim Taleb - https://www.amazon.com/Skin-Game-Hidden-Asymmetries-Daily/dp/042528462X/

Algos to Live By, by Brian Christian - https://www.amazon.com/Algorithms-Live-Computer-Science-Decisions/dp/1250118360/

A Short History of Financial Euphoria, by John Galbraith - https://www.amazon.com/History-Financial-Euphoria-Penguin-Business/dp/0140238565/

Also, if you're interested in algo or strategy creation at all, I have a youtube channel dedicated to helping beginners make their strategies and learn more. Its on a bit of a hiatus but I'll definitely be getting back to it soon.

https://www.youtube.com/channel/UCxokFZgGpztPTeQvBwIk2wQ

DM me here or on twitter if you have any questions! Love to help, questions also keep me on my toes and make sure I'm learning too!

u/routinely_sarcastic · 5 pointsr/Buttcoin

> I wanted to have a in depth conversation about the pros and cons of bitcoin

Fuck off troll.

It is a banking system with no ability to prevent a bank run, which means a systemic bank run will happen and it will unwind in a liquidity crisis. Practically fucking gravity if you bothered to read any financial history.

Go read a fucking book and leave us alone:

https://www.amazon.com/Manias-Panics-Crashes-Financial-Investment/dp/0471467146

https://www.amazon.com/History-Financial-Euphoria-Penguin-Business/dp/0140238565

https://www.amazon.com/Great-Crash-1929-Kenneth-Galbraith/dp/0547248164

https://www.amazon.com/Incerto-Fooled-Randomness-Procrustes-Antifragile/dp/0399590455

https://www.amazon.com/Why-Stock-Markets-Crash-Financial/dp/0691175950

https://www.amazon.com/Money-Whence-Came-Where-Went/dp/0691171661

Go away until you've read all of them.

Get off the internet and do your fucking homework.

Goodbye.