- Books, Literature, and Writing
The Naked Trader by Robbie Burns: Investment Book Review
Second Edition of this Popular Beginner's Guide to Trading
The second edition of the very popular and amusing "The Naked Trader" by Robbie Burns is an updated version of the original with extra material. Quite a few things have changed in the financial markets over the last few years...
Robbie Burns has a background in journalism and writing, but left full time work in 2001 to trade shares (and run a restaurant, a financial website, the Buffy The Vampire Slayer telephone hotline... etc.) and has lived successfully off his investments/trades ever since (all documented on his web-site: www.nakedtrader.co.uk) and this book is all about how he has achieved this.
The author does not dwell on the intricacies of technical analysis ("charting") nor on balance-sheets and fundamental analysis. This book is for predominantly for beginners and is intended not to frighten or bore them. It gives good practical advice written in an amusing (some might even say silly) way. An experienced trader might learn a little from the book, but the simple lists of things to do and not to do could be beneficial for everyone.
The Naked Trader - by Robbie Burns
The Naked Trader
How anyone can make money trading shares
The Naked Trader, his wife (Mrs Naked Trader) and their small son sound like they live an idyllic lifestyle overlooking the river in west London, occasionally trading some shares or chatting with grateful readers of his work, via his web-site etc.
The author also runs seminars and makes money from writing, so perhaps resigning from your job as soon as you have read the book could be a bit rash, unless you have some other streams of income, but reading this book to start with, then perhaps a few more books on the subject and it could be possible to make money trading shares (as the sub-title of the book suggests) I have been doing it myself for several years.
The Naked Trader covers the basics of various different styles of trading and goes in depth into the preferred methods and types of shares etc. used by the author. It addresses questions such as what kind of trader or investor are you (and gives a humorous account of the many different types that exist) what you are trying to achieve, what do you need. There is a strategy chapter detailing some of the many different types of strategy you may want to follow and suggested web-sites that may help in the research.
There is very little about the very complex subjects of technical analysis or Fundamental analysis for choosing shares or timing you entry or exit, but the author maintains that he knows little about these subjects and doesn't find them useful.