11 of 11 people found the following review helpful
I don't own a single share but would like to try to make a little bit of money through the markets. I read this book in a day (and will be re-reading it shortly) and I found it enormously useful and - naff though this might sound - really quite inspirational.
Like some other reviewers I found the plugging of the author's seminars and the Advfn website a bit bugging (especially when you log onto that site and see a link to the... Naked Trader site) but I wouldn't say that's a reason not to read the book.
Perhaps more experienced traders would find it all a bit basic, but he must be doing something right - look at the money he's making. And he seems to be very open about exactly how he does it and the mistakes he's made.
If you're starting out, or curious about how the whole stocks and shares thing works, I'd give this book a big thumbs up.
30 of 32 people found the following review helpful
on 5 April 2009
This book really is a great introduction to the world of investing and doing so successfully. The relaxed style makes it very approachable whilst telling you what you need to know.
I bought this book after seeing it recommended many times and are definitely not disappointed I did. As someone with a reasonable level of experience, I found I was able to identify some of the common mistakes it highlights as being ones I've made and can easily relate to the investing style of the author. Hopefully I can now learn from the common pitfalls he mentions rather than having to make them myself.
The book promotes a realistic potential trading outcome. The author doesn't pretend that every share you'll buy will be a "ten bagger" and nor should you since most shares which will ever achieve that kind of growth are generally high risk. High risk shares should make up a proportion of your portfolio but never all of it. You might have the odd "ten bagger" but you'll also have a reasonable number of companies going into administration and loose all your money. Everyone's attitude to risk does of course vary so whether you take a more cautious approach to trading is up to you but regardless, this book should be helpful in avoiding too much of your capital disappearing in search of that elusive "ten bagger".
This book is not going to turn you into an expert investor overnight, that isn't what it is meant to do, but it will give you a good foundation knowledge which you can then build upon through experience and reading some of the more technical books which are likely to be too intimating to someone completely new to trading. I'd recommended this as the first book anyone buys but don't think it will be the last if you are really serious about succeeding.
4 of 4 people found the following review helpful
on 5 October 2010
I'm a layman and I was looking for an entry level book that would walk me through the London Stock Exchange and how one goes about trading online. What kind of pitfalls I should look out for and what strategies I should adopt when looking to buy.
This book provided all that with a nice easy style of writing. Burns outlines a good research strategy and a good few broad strategies for buying and selling.
I enjoyed the read and felt well informed. I had e-mailed the writer before the book came in telling him I planned to day trade. I was immediately advised that 90% of day traders fail. So I read the book and now I see where he is coming from this is a book for the beginner, wishing to get his hands dirty in the markets and it equips you with the basic tools to do that.
A touch of cynicism, an informed opinion and a clear head are all essential. Thats what I know, and a lot more, and it only took me only a few hours to buzz through it.
Now onto some harder reads...
3 of 3 people found the following review helpful
on 14 October 2011
A while back I read the second edition of this book and also Robbie Burns 'The Naked Trader Guide to Spread Betting' (Both Excellent).
I've just acquired the new updated (3rd Edition) and my advice is, don't hesitate, grab yourself a copy.
The trading and investment world are constantly changing. Doing this stuff without a fully up-to-date 'insight' carries risk that, personally, I'm unwilling to countenance. This Book contains most, probably all, that you need (other than a few quid to invest / trade with).
It doesn't matter whether you are a newcomer to investing, or have been at it a while. You 'will' find some real gems of info in this book.
(I've made it my 'trading handbook', and won't make a move without first reflecting on the advice Robbie Burns provides).
Robbie makes things easy to understand. He writes in a style that's warm and friendly. (It's just like a knowledgeable buddy is putting you straight over a pint down the pub).
The book is as jargon free as possible. Robbie makes few (if any) assumptions about your knowledge of the subject, so the content can be grasped by readers of practically all ages, backgrounds and abilities. The structure / layout make it a joy, and you'll refer back to it, time and time again.
Take it from me, you 'need' this book if you want to gain a realistic understanding into how a 'smart' Investor / Trader goes about his business.
I rate it as 'the' very best book on trading / investment I've ever read. (And I've read quite a few). If I had to chose only one book on this topic, it would be this one.
This book has the potential not only to make you money, but to save you a fortune by avoiding mistakes you probably don't even know exist.
By the way, Robbie also has his own website on investment / trading and has replied helpfully (and without delay) to a couple of emails I've sent him on the subject of investment.(Makes a pleasant change from the 'love em, then leave-em-to-it' brigade).
As you may have gathered, I highly rate Naked Trader Edition 3.
A great book (a great read). Enjoy.
93 of 103 people found the following review helpful
on 28 March 2012
It would be unfair to rate this book very low. But I do have a number of issues with it which give some cause for concern. From a positive perspective it is an excellent and up to date introduction to trading and current internet information systems. However; having stated this and effectively recommended the book to the novice, it is very worrying how willing the author is to introduce leverage and spread betting to the novice. In my opinion the dangers of leverage, although repeatedly mentioned throughout the book, are far too high for the novice to even contemplate entering the market to spread bet. Spread betting is presented in the book as a tax free advantage and a complement to your other portfolio's. Mention is made of how spread betting can help to minimize losses. But that is a deep subject on it's own and little guidance is given on that aspect of leveraging.
The book is filled with examples of traders having used leverage and almost always losing money. It's almost like the book sells leverage and spread betting as an option to making a fortune but then contradicts itself by giving masses of examples of people who failed at this. The fact is that trading requires a very stable and controlled mind. Leveraged trading requires substantially more mind control and stability. Anyone not accustomed to the normal daily routine of trading pressures and anxiety would be fooling themselves thinking that leverage is any easier.
Also I am one of those people who does not appreciate being sold to and unfortunately this author never misses an opportunity to sell one of his own products to you. The book is filled with invitations to contact the author directly for various 'special offers' and intro's. The author criticises some other traders for selling ineffective trading courses to novices for £k's but he himself runs a course set at £599 which makes me uncomfortable.
By way of summary I would say the book is well worth reading, and is packed full of useful current information about trading and practices but it is far from an ideal trading companion. It is more of a 'trading light read'. Anyone new to trading would do well to add this to a very long list of books to read. Anyone thinking that this book is a gateway to a trading account and success is in for a very negative experience.
115 of 128 people found the following review helpful
on 4 April 2007
This book, whilst relatively informative and easy to read as an entry point into trading stocks and shares should be treated with caution. It is, as has been suggested very fundamentalist, there is little or nothing to do with technical analysis except some very general points.The index is terrible, which doesn't help; also it is very focused on the use of one particular website (of whom the author is a writer for). A person that really wanted to learn for themselves would need to read up a lot more. A basic and easy to understand book but not a lot here. The author also uses it to gain publicity for his other capitalistic ventures, i.e. through his website and offers numerous offers for you to take advantage of. The phrase too good to be true comes to mind here. I therefore think the book is more of a marketing pitch for him rather than a truly informative insight into the world of trading for a new investor.
12 of 13 people found the following review helpful
on 31 October 2005
I started reading this book over the weekend and only my son was able to stop me from reading. The book works like an addiction, once you get hooked you cannot stop until ...
I'm trading for the last year, with some kind of success. I'm trying to improve constantly my skills. This book is genuinely an excellent book which explains all you need to know to start trading shares in great detail and in plain and fluent english.
This book should be essential reading for all beginning traders.
2 of 2 people found the following review helpful
on 5 April 2009
The Naked Trader is a fun and compelling read, providing the reader with not just the tools and knowledge to learn how markets work and begin investing, but also a huge amount of visual information and experience from the author and other traders. It focuses on important issues like setting your own goals, maintaining a diary of investments, knowing where to 'get out' when stocks go down and best of all it encourages the reader to do as much research as possible of their own before investing. By getting away from a reliance on any one method, whether charts, tips, software tools or web info, you end up really seeing what you're buying and you (hopefully!) know why you're buying X and not Y once it comes to hitting the "BUY" button. Robbie's style is relaxed, very easy to read, and the chapters each focus on one aspect of trading and the stock market (or market betting), progressing nicely from a fun 'day in the life of' diary through to some gritty horror stories from himself and other traders at the end.
I couldn't recommend this book more highly. It's great to see a book written by someone who is as obviously successful, providing an insight into his own developed skills and showing others how to really research, invest and hopefully make money for themselves.
2 of 2 people found the following review helpful
on 5 December 2009
Dear Naked Trader or Robbie,
I have just finished reading your book The Naked Trader. I bought it in a bookshop, at WH Smith's at Monk's Cross Retail Park in York, where I live. I have to say that it was worth every penny. It is very informative AND entertaining. So thank you for writing it.
I have been trading on and off for the past 12 years ( I'm 43 years old). The biggest satisfaction I got with reading your book was that it confirmed to me what I was doing right, and also what I was doing wrong. Thankfully, I was doing more things right than wrong. Of course I learned the hard way (or the expensive way) over the years. The horror stories in your book were interesting, because anyone who has traded for long enough will have made the same classic errors. It really made me giggle. It's like watching someone trip and fall flat on their behind. It's not really funny when you stop to think about it because one can really get hurt... but you can't help but laugh when it happens, especially because you've been there yourself. I think that even if you're a seasoned trader, reading The Naked Trader is a MUST READ. You'll learn a thing or two and have a good laugh.
2 of 2 people found the following review helpful
on 21 June 2007
This is not only a great book for the amateur looking to start in trading, but it also goes just far enough to give you a basic understanding of where to go next.
So, for instance, it gives you some good advice on reading charts, warns you of the "Novice" pitfalls and then gives you some texts to read if you want to take your knowledge further.
I particularly liked the style (The are so many poorly written books out there, especially on this topic), it was light hearted but not silly and the book is well structured and easy to read. It really helped me break down a good understanding of the stock market, whilst providing me with some great pointers in how to research, track and buy good stocks.
It also gives you links to great websites, access to the authors website blog with his current and past share trading history and the author is also very contactable on share issues.
I would lastly point out that the book has some really good real life examples of how the author made his own money.
Its a good honest, solid, refreshingly easy to read book that's well structured and useful to refer to.
Would highly recommend