My First Investing/Trading Books

When I was learning about investing in the stock market, I needed books for more information. There are a lot of free pdf on the web but the books that I like, I want to have a hard copy of it so that my children maybe can read it someday. Maybe that will be the legacy that I'll be leaving them. I want them to know money management as it is very important. If only I have known that when we were kids, maybe I have chosen a different path. So, I went to check the bookstore and EXPENSIVE!! I searched for online bookstores that offers affordable books like amazon and I found at about BOOK DEPOSITORY. These are my first books. Jesse Livermore's Methods of Trading in Stocks - Richard Wyckoff This was my first ever book about trading. It has only 32 pages and can be read in one sitting but full of information. It tells about how Livermore's preparation before and after trading, money management, news, stocks to trade and pyramiding.   How To Trade in Stocks - Jesse Li

Term of the Day: Sunk Cost Trap

Sunk cost in economics is any past cost that has been already been paid and cannot be recovered.

Individuals and businesses fall into a sunk cost trap when they base their decisions on past behavior and a desire not to waste time or money they have already spent, instead of cutting their losses and making the decision that would give them the best outcome going forward.

For example, your business is loosing money but you don't want to give up because of the time, effort and money you had already put in it or going to a concert even if you are sick because you don't want to waste your money.

So don't be a victim of sunk cost fallacy. "Failure doesn't mean the game is over, it means try again with experience."

Sources: Investopedia, life hack


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