Reddit reviews How I Made $2,000,000 in the Stock Market
We found 4 Reddit comments about How I Made $2,000,000 in the Stock Market. Here are the top ones, ranked by their Reddit score.
Used Book in Good Condition
Don't daytrade or even trade at all or you will probably lose it all quickly.
Instead just put it all in Jan 2018 $16 AMD calls and wait.
Then just sit back and go read the book, How I made 2 million in the stock market, while you watch that 50k go to 100k and then 150k.
You get rich by making a few correct, longterm but concentrated bets and I just gave you your first and best.
A good way to look at volume is like pressure. Higher volume = higher pressure. Imagine it like pressure in a pipe. Thus if there the price is increasing, on high volume, the momentum is strong, and it takes a lot of pressure to reverse that momentum - and vice versa (price decreasing on increasing volume, you'll often see the floor drop out).
Note that virtually all modern-day trading indicators are based off price and volume. Back in the day (pre-1950's), price and volume were the primary thing traders looked at (in the absence of the 100's of different trading indicators used today).
If you want to learn more about volume and technical analysis, here are one of the best books on the subject:
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=sr_1_1?ie=UTF8&qid=1479917231&sr=8-1&keywords=technical+analysis
This is also an awesome book, talking about how a trader in ~1950's used pretty much only price and volume to know what to invest in, an enjoyable read too I'd say (I just noticed the kindle edition is only $1, you should definitely check this book out):
https://www.amazon.com/How-Made-000-Stock-Market/dp/1614271690/ref=sr_1_1?ie=UTF8&qid=1479917478&sr=8-1&keywords=how+i+made+2+million+dollars
I have been trading on and off for over 15 years. I found this book in a used book store 2003 and it completely changed the way I traded: How I Made 2 Million Dollars in The Stock Market
I don't tell many people that I trade, but when I do I'm generally asked, "isn't it just gambling?". Well, no, no it is not. If you stick religiously to a stop-loss rule, you will always have enough capital to 'fight another day'.
The concept for successful technical trading is very simple. You are trying to identify perfect setups, which will allow you to buy a stock just as it is starting to rocket upwards. If the setup fails, try to limit your loss as much as possible by selling the minute the stock falls x% below your purchase price.
There are also a gazillion other stock trading "bibles" out there. I would suggest reading as much as possible. However, nothing will force you to learn faster than having money in the market.
As others have noted, with the amount that you are starting with, you will need to move the money to Robinhood to avoid fees.
Good luck.
Goodluck!
If you want to learn more of the stress free trading, look for this book, I always recommend it to anyone. It's a fun, easy and relax way of trading. The guy who wrote that book is a dancer who made millions on stock market while doing the thing he love the most.