'The Naked Trader' - opinions?

[adam_dynamic]

Hey,

I'm in the process of reading as much as I can about shares etc, with the aim to use them as a 'more effective savings account' than anything a bank can give me (i.e. I don't have dreams of 'doubling up overnight' or becoming a millionaire playing the markets).

A member on the MoneySavingExpert forum suggested the 'Naked Trader' book as a good introduction (he suggests the ADVFN site and a couple of other resources) and I was wondering whether anyone had any opinions on, er, well his opinions?

It seems that everyone has different ways of doing it (and a lot of the time 'everyone but them is wrong') so I'm trying to get a balanced a picture as possible. Any advice would be gratefully received!

Adam

 

[leonarda]

Hey,

I'm in the process of reading as much as I can about shares etc, with the aim to use them as a 'more effective savings account' than anything a bank can give me (i.e. I don't have dreams of 'doubling up overnight' or becoming a millionaire playing the markets).

A member on the MoneySavingExpert forum suggested the 'Naked Trader' book as a good introduction (he suggests the ADVFN site and a couple of other resources) and I was wondering whether anyone had any opinions on, er, well his opinions?

It seems that everyone has different ways of doing it (and a lot of the time 'everyone but them is wrong') so I'm trying to get a balanced a picture as possible. Any advice would be gratefully received!

Adam

I read this book at christmas, and am now following his techniques which made alot of sense to me. I think the key things that I feel work for me are:
- Trading stocks based on fundamentals and price action over medium term 2+ months. It made me realize trying to trade on timescales of days or less is for the fool hardy or the extremely clever chaps!
- The cliche, "Running the winners" and "Cutting the losers", and choosing Targets/Stops.
- Using ADVFN for fundamental research, works fairly well even with the free account.
- Some very useful tips and comments, eg.how to read company reports etc..

Anyway, so far i'm happy with trading this way, especially given the down and up this year so far...!

 

[Masquerade]

I've never actually read his book, thought about it but never got into the equities game seriously. I've had a look through it before and seems quite good and it's something i've recommended to people before who were starting from nothing. I did read his site every now and then and did trade one of his shares that he'd bought and he seems to do pretty well from it. I'm sure you could do a lot worse than him in this business.

 

[Pi3141]

'Naked Trader' was one of the first ever books I read when I got into investing and trading. Looking back now, I'd say it serves as a good intro to the whole thing. However, the style in which he writes the books seems rather *too* casual. He makes investing sound a little too easy (im sure its easy for Robbie Burns but for newbies starting out, you dont want to be fooled into thinking this way).

For a better (IMO) and more detailed book into investing, trading, the different types of markets, IPO's, supply and demand, and generally how markets work, I would recommend the 'Financial Times Guide to Investing' by Glen Arnold. This was the second book that I bought on the subject and at over 500pages long it maybe a bit of a dry read but its more impartial and more detailed Robbis Burns book.

But in all honesty, all the info you need is actually on this website. I know this has been drummed into everyones mind again and again but its the true. What's even better is that the info found here is FREE!

 

[leonarda]

'Naked Trader' was one of the first ever books I read when I got into investing and trading. Looking back now, I'd say it serves as a good intro to the whole thing. However, the style in which he writes the books seems rather *too* casual. He makes investing sound a little too easy (im sure its easy for Robbie Burns but for newbies starting out, you dont want to be fooled into thinking this way).

For a better (IMO) and more detailed book into investing, trading, the different types of markets, IPO's, supply and demand, and generally how markets work, I would recommend the 'Financial Times Guide to Investing' by Glen Arnold. This was the second book that I bought on the subject and at over 500pages long it maybe a bit of a dry read but its more impartial and more detailed Robbis Burns book.

But in all honesty, all the info you need is actually on this website. I know this has been drummed into everyones mind again and again but its the true. What's even better is that the info found here is FREE!

Yes, I must also agree Robbie makes it sound rather too easy...!

 

[LMR]

Totally agree with the rest of the troops!

The book is a good introduction for getting to grips with spreads and fundamentals and there are some basic charting references in there too but nothing too heavy.

Some good basics to get you started but dont just rely on ADVFN like the book suggests-use this forum and the net have a good scout around!

 

[Jason101]

- Trading stocks based on fundamentals and price action over medium term 2+ months. It made me realize trying to trade on timescales of days or less is for the fool hardy or the extremely clever chaps!

What is it that is quoted all over T2W 85% of day traders fail, or is it 90%?

There is probably a good reason the Naked Trader would avoid the time scales of day trading.

 

[DionysusToast]

I think Naked Trader is an excellent book to be honest. It provides a 'rounded' approach to swing trading.

You can find more formal books and get into some heavy TA but it won't help. Just go with Naked Trader, get into some trades with very small position sizes (just 10-20 shares at a time) and get some market experience.

 

[JohnTurnbull]

If you want a good book to read about investing, buy "The Intelegent Investor" by Benjamin Graham.

The naked trader is just a wide guy making money on his web site from referals.

 

[leonarda]

The naked trader is just a wide guy making money on his web site from referals.

I strongly disagree, you obviously haven't read his book!
His methods are very sound and sensible.

 

[coopster]

i'm inclined to agree with the views already here. As a start it's ok and makes light reading about an otherwise difficult and often boring topic.

He does have lots of experience now and can probably relax a lot more than his readers could ever do but as always, use the book to provoke your own thoughts and the further reading material will emerge as you notice the gaps in your knowledge.

He is a bit of a wideboy and does try to sell almost everything through his book and website that is true as he is quite well known. As always, there are seminars to attend at a discount for owners of the book, rebates on data subscriptions etc. He is also generating other unrelated income via pay per click ads on his site or trying to get people to change internet/electricity provider etc.

 

[JohnTurnbull]

I strongly disagree, you obviously haven't read his book!
His methods are very sound and sensible.

Actually, I just read his "Guide to Spread Betting" and yes, his advice is sound and sensible. Unfortunately it is just the sound and sensible advice that anyone who knows anything about the subject could give! The book, which I read in about 2 hours, was a complete waste of eight quid.

What really anoys me about this guy is that farse of a portfolio he publishes on his web site. - Ask him to tell people what he is about to buy on Wednesday instead of what he bought on Monday LOL

 

[leonarda]

Actually, I just read his "Guide to Spread Betting" and yes, his advice is sound and sensible. Unfortunately it is just the sound and sensible advice that anyone who knows anything about the subject could give! The book, which I read in about 2 hours, was a complete waste of eight quid.

What really anoys me about this guy is that farse of a portfolio he publishes on his web site. - Ask him to tell people what he is about to buy on Wednesday instead of what he bought on Monday LOL

You want to read his original book, it has far more content than the spread betting book, which as he states is just an addition to his original book to talk about spread betting.

He state on his website what he has bought that week and why, sounds pretty good advice to me...! just as good as saying what he is about to buy and why, can see much difference there!

 

[JohnTurnbull]

Quote:

"He state on his website what he has bought that week and why, sounds pretty good advice to me...! just as good as saying what he is about to buy and why, can see much difference there! "

I'm sorry Leonarda but if you can't see the difference between someone telling you he can pick the lottery winning number the day before the lottery and someone telling you they can pick it the day after the lottery, you are a con artists dream target!

 

[leonarda]

Quote:

"He state on his website what he has bought that week and why, sounds pretty good advice to me...! just as good as saying what he is about to buy and why, can see much difference there! "

I'm sorry Leonarda but if you can't see the difference between someone telling you he can pick the lottery winning number the day before the lottery and someone telling you they can pick it the day after the lottery, you are a con artists dream target!

lol, you obviously haven't read his first book!
He holds trades from a month up to anything like a year, we're talking medium term trades. So if you're trying to say he is telling us what trades he entered on monday, when he actually didn't because he wanted to wait 2 days to see which way it moved before telling us, then that's silly!
The whole point of what he is saying is "educating" people based publicising his decision process in the current market environment. He could have bought XYZ last friday for all I care, I'm not going to go and buy it that's not the point (you shouldn't copy other people's trades), I want to learn based on his research notes as to how he picks stocks etc...

 

[leonarda]

Quote:

"He state on his website what he has bought that week and why, sounds pretty good advice to me...! just as good as saying what he is about to buy and why, can see much difference there! "

I'm sorry Leonarda but if you can't see the difference between someone telling you he can pick the lottery winning number the day before the lottery and someone telling you they can pick it the day after the lottery, you are a con artists dream target!

eg.from this weeks post, quote:
"I bought some RPC, £30 spreadbet at 240. I thought the acquisition looked pretty good along with the fundraising and in time RPC could really motor from here so a medium term position intially for me targetting around 330. Stop 195."

You can see his thought process etc.. yes he's a bit gun-oh and relaxed, but then medium term trading is... sit back and watch the profit roll in...

 

[JohnTurnbull]

Do I really have to spell this out for you?

It was Wednesday when he told you he bought RPC at 240.

On Wednesday, RPC was 264!

How do you know he bought it at 240?

Do yourself a favour, check all the buys he says he has made. You will find that in every single case, the share price went up imediately after he says he bought it and before he tells people he bought it!

I can't afford to fight a libel case so I won't call him a liar but not even Warren Buffet gets it right every time!

 

[leonarda]

Do I really have to spell this out for you?

It was Wednesday when he told you he bought RPC at 240.

On Wednesday, RPC was 264!

How do you know he bought it at 240?

Do yourself a favour, check all the buys he says he has made. You will find that in every single case, the share price went up imediately after he says he bought it and before he tells people he bought it!

I can't afford to fight a libel case so I won't call him a liar but not even Warren Buffet gets it right every time!

well you personally don't have to believe him...
but I believe in his methods and over the last year or so it's done me very well...!
I suggest you try reading his first book.

 

[leonarda]

Do I really have to spell this out for you?

It was Wednesday when he told you he bought RPC at 240.

On Wednesday, RPC was 264!

How do you know he bought it at 240?

Do yourself a favour, check all the buys he says he has made. You will find that in every single case, the share price went up imediately after he says he bought it and before he tells people he bought it!

I can't afford to fight a libel case so I won't call him a liar but not even Warren Buffet gets it right every time!

actually, you think about it! he holds these stocks for several months typically, check his trades log, so what happens in the first 2 days is of no real importance! it could dive on day 3! Look at his records, plenty of large wins, and numerous small losses.

I can understand it's easy to be sceptical of guys with websites like these, but he's just trying to educate people, as well as sell his seminar and book of course! His website isn't one of those make 1000% in a month phonies... His ways won't suit everyone, but his methods do work if you understand it and apply it correctly. I really do suggest reading his first book, if medium term stock trading is your thing. It's a lot better read than his spread betting book.

 

[NOtoEURO]

Naked Trader always trades in the past....we all be millionaires if we could do THAT

NAKED TRADER always trades in the PAST....we would all be millionaires if we could do THAT?

Does he only really make money out of his courses....like everyone else?

Hey,

I'm in the process of reading as much as I can about shares etc, with the aim to use them as a 'more effective savings account' than anything a bank can give me (i.e. I don't have dreams of 'doubling up overnight' or becoming a millionaire playing the markets).

A member on the MoneySavingExpert forum suggested the 'Naked Trader' book as a good introduction (he suggests the ADVFN site and a couple of other resources) and I was wondering whether anyone had any opinions on, er, well his opinions?

It seems that everyone has different ways of doing it (and a lot of the time 'everyone but them is wrong') so I'm trying to get a balanced a picture as possible. Any advice would be gratefully received!

Adam