Title: The Naked Trader
Author: Robbie Burns
Here we are with yet another book about the seemingly dull subject of stock trading, with a pretty weird cover picture. When I first stumbled across this book I had to do a double-take when I saw the authors bald head peering out over the top of his laptop, which is carefully positioned to cover his naked nether regions. It certainly leaves anyone looking at the cover in no doubt that he is indeed trading, um…, naked.
Trading in the buff
The blurb on the back immediately appealed to me as a novice in the trading world because it’s obviously aimed at trading virgins and those taking their first perilous steps on their trading journey. Plus the guy is a self-declared lover of tea and toast, which I pretty much exist on, so buying the book was a no-brainer.
I wasn’t sure what to expect when I started reading but I’m happy to report that Robbie Burns (any relation to the Bard?), is really very good at explaining the world of trading in a very approachable and easy to understand manner.
Comprehensive but also an easy read
The author takes the reader on a journey from first setting up a trading account and beginning to research the market, through to understanding fundamental analysis and the various technical indicators you should be aware of. He tells you which companies you should look for, and why, and details some strategies that he uses in his own day-to-day trades.
Robbie even goes into some of the psychology regarding buying and selling shares, which I found to be invaluable lessons. The book is certainly comprehensive enough to take a novice by the hand from their initial interest in the subject, to eventually putting their first trades in.
Helpfully he also examines and explains some of the pitfalls that will likely await every trader when they first start out by referring to his own mistakes. This is a nice touch as he paints himself as a normal human being and not some other-level trading guru, and you feel like it’s definitely possible to make money through share trading.
For myself personally, I’ve now moved away from trading into what I call investing – that’s to say holding investments for the very long-term. Whilst Robbie calls himself a ‘short term trader’ this is still a different path to the one I’ve now chosen so I don’t really refer to his book so much anymore.
However, for anyone who’s got an interest in the subject of trading shares, or even those with a bit of knowledge but is bored with the stuffy tone of ‘professional’ traders, I can wholeheartedly recommend this book as vital reading. It’s definitely one to put on your bookshelf.