Quote: (11-15-2012 03:54 PM)nmmoooreland20 Wrote:
SelfPaid,
As someone that has successfully implemented day-trading strategies to build your location-independent lifestyle, I’m curious if you’ve read the book “The Intelligent Investor” by Benjamin Graham. I just finished it, and everything he in there seemed to make a lot of sense intrinsically and was also very well researched and proven.
If you’ve read it, I’m curious to hear your thoughts, since day trading seems antithetical to his approach and advice.
Here’s info about the book for reference:
http://en.wikipedia.org/wiki/The_Intelligent_Investor
I haven't read it but to be honest with you what helped me was Not a Book but the Realisation that everything is the Same buying Cheap and Selling High. It doesen't matter if you Trade Cars, Computers, Stocks what ever you Need to know 2 Things.
1. When is the Price expsensive
2. When is the Price Cheap
And than you Buy the Price when it's Cheap and sell it when it is expensive. Sounds to simple? Maybe it is but it works and Took me more than 1 Year and 4000 houers to understand and implement succefully.
Everytime Before I go to bed I Check the High Points and the Low Points and decide when the Price is Good and Cheap to Buy and where my exit is. Offcourse that is the simplified Version but I don't realy do more than that. I am nothing Special I just Tested and Tested and Tested until i found what Works for mee.
But if you have a dayjob and you want to earn some Casflow Own the Shares you allready Own the Video might be of value to you since ist Shows how to do that.
I Personaly choose Not to since I get the Results I want True my Own Trading and my Capital Manager Trading for me so I don't Need to learn such Strategies. Since I Discoverd my Own which is like I Set just buying Cheap and under valued and getting into Cash at the end of each day.
I am a Big Fan of Warren Buffets Approach to Company's so if the Book teaches you how to find thinks that are undervalued and you choose to Invest Long Term than that might help you Out. I Personaly have had better Results with getting into Cash at the end of each day so that's why I do it.
By the Way I am just starting Out with the Location Independent Lifestyle with my First move to Brazil I am Not that experienced with living in different countries ect. From 17 to now 22 I just focussed on learning and Setting up my Life so that I cane Take Advantage of the oppertunities the World Hase to offer so it's Not like I have been Traveling since 10 years or something I am just starting Out.
Hope it helps
PS if you want a more Details Awnser I Need to know what you're Goals are I don't know everything but I might be able to help you.