[Illah]

Just looking for a decent book that's sort of a 'finance 101' type of thing. There's a ton of these types of books out there, just wondering what's a good one. I'm in my 20's and have some of the basics covered (IRA, 401k, high-interest checking/savings) and am now starting to get more serious about this stuff (just opened a Schwab account, looking to do more than simply put money in the bank). Hopefully that helps give you a better perspective of where I'm at.

Thanks,

--Illah

 

[OptionTrader]

You need to understand that trading in the market is an actual profession, not a hobby or a glorified savings account. It's just like any other profession such as being a surgeon, attorney, engineer or whatever else. None of those professions can be learned by simply reading books either. The problem is that the ease of entry into the market gives a false sense of what it really takes to succeed. A ridiculous amount of money can be made, but you need to know what you are doing. And no, stock picking is NOT the secret.

In my nearly 20 years as a trader, I have yet to see a book that is really worth a crap for teaching you how to properly protect yourself (hedge) in the market. My advice is to hook up with a trader (not a financial adviser or a broker) and work out a deal for some sort of mentorship. You might also want to consider getting some formal education on the subject.

Please understand that I do not want to burst your bubble. I just don't want you to get hurt.