This book "How to Turn $5,000 into a Million," presents a bold strategy for stock market speculation, advocating for leveraging market funds rather than relying solely on initial capital. The author challenges conventional short-term trading methods, suggesting that significant gains are achievable through focused speculation on major market trends and crises. A core technique involves gradually increasing position sizes using profits from initial successful trades, a method referred to as scaling in and scaling out. The book emphasises the importance of identifying catalysts and understanding market overreactions, using historical examples and advocating a mindset geared towards maximising profits from opportune moments rather than avoiding risk. It also touches upon various financial instruments suitable for this approach and stresses the significance of managing risk and psychologically detaching from individual trades by using separate accounts.
📖 Explore every insight inside: Read the book: amzn.to/4jbKopE
📚 Build your trading bookshelf: Find top books here: readtoinvest.com/trading/
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!