A practical guide to investing in stocks. A practical guide to investing in stocks My opinion, fact checking and conclusions about investment returns of tens of percent per month

DETAILED GUIDE ABOUT
Where and how to invest for the common man
if you don’t have your own oil company

What is this book about?
- Where to invest
- How much to invest
- When to invest
- What to do if you don’t have enough free money
- What to do if there is enough free money
- How to reduce risks
- How to get more profitability
- How to assemble an investment portfolio to suit your needs
- Methods of simplification and automation

Themes:
-Active investing
-Passive investing
-Conservative investing
-Review of brokers
-Technical analysis
-Volume analysis
-Risk management
-Analysis of successful strategies and examples
-Investing in ETFs
-Building your portfolio
-Risk diversification
-Psychology of trading
-Taxation of investments
-Macroeconomics and its impact on markets

399 pages in PDF format

SpoilerTarget"> Spoiler: Book's contents

Chapter 1. Choice

A fairly general model of education (CAE)

3 investment levels

Bank deposit

Real estate

Mutual funds and bond funds

PAMM accounts

Business projects of your friends

MMM and other pyramids

Gold and silver

Art objects

Hedge funds

Investment ladder

Microinvesting

Average investment level

Macro investing

Is it really possible to achieve financial freedom in 5 years?

Where to begin

Parable "Demon Kratius"

The power of compound interest

Are you going to live forever?

What Kiyosaki forgot to tell you

There is a fourth type

Real estate

Chapter 2. Markets and choosing a broker

History of the exchange

American markets

Controlling organizations

Structure of the American stock market

Market sectors

Choosing a broker

Brokerage house "Otkritie"

Brokerage house "Finam"

Broker "Zerich"

Brokerage house "BCS"

Broker "Kit Finance"

Broker "Exante"

Interactive Brokers

Chapter 3. Basics of Technical Analysis

Technical indicators

Patterns and models of technical analysis

Stocks that are stronger than the market

Support and resistance levels

Deal Potential

Trend slope level

Chapter 4. Alexey's strategy

Stock selection

Strategy Analysis

Fundamental Analysis Basics

Chapter 5: Setting up Thinkorswim

Chapter 6. Day Trading

Market analysis before opening

Phases of market movement within a day

Bases and trades

Promotions with special attention

Patterns

Chapter 7. Small capitalization companies

Strategy Basics

Pump&Dump trading

When not to trade

Pump rating

Trading on breakouts

Work strategies

The principle of searching and selecting shares

Work algorithm

General capital requirements for working with small capitalization companies

Chapter 8: Understanding the Basics of Market Movement and Getting Started with Volume Analysis

Levels of Market Understanding

Indicators

Technical analysis

Volumetric and cluster analysis

Major player

Market phases

Types of volumes

“Effort-result” method

VSA Basics

Chapter 9. Swing trading

Selecting stocks and setting up Thinkorswim

VSA signals

Transaction support

Chapter 10. Risk management

Alexey's strategy

Day trading

Trading on breakouts

Swing trading

Combining Strategies

Chapter 10. Trading Psychology

Chapter 11. Fundamentals of Portfolio Investments

Basic provisions

Portfolio theory

Chapter 12. Creating a portfolio

Benjamin Graham

Warren Buffett

John Bogle

Thomas Roy Price

William Bernstein

Ray Dalio

Other investment companies

Let's sum it up

Chapter 13. Additional information on asset analysis and forecasting

Are markets expensive?

GDP and market capitalization

Types of assets

Chapter 14. The Limitless Possibilities of ETFs

History of ETFs

ETF structure and operating principle

ETF classification

Fund analysis and selection

Collecting a briefcase

Chapter 15. Active investments

Stockcharts.com

Charts and indicators

Signal analysis and decision making

Chapter 16. Investment Ideas

Investments in the second group of assets

China as an investment idea

Prospects for the Japanese market

Biotechnology sector

Dividend investment strategy

Chapter 17. Macroeconomics and Geopolitics

Chapter 18. Investments in new buildings

Basic knowledge about new buildings

The situation on the real estate market

Profitability calculation

Developer reliability analysis

Determining the liquidity of an object

Investment strategy

Carrying out transactions

Chapter 19. Townhouses and Other Real Estate Investment Strategies

Creation of studios from large apartments

Chapter 20. Analysis of the current situation in microinvesting

Alpari and other PAMM brokers

Chapter 21: Creating an Investment Strategy


Salesman:

I am often asked to recommend books on investing. But here’s the problem: I myself haven’t read any books on investing. I read some books on business and by self-development, but with investing, in this sense, there is a big gap. In this area, I drew information mainly from various And forums.

Of course, the fact that I did not read specialized books is my omission. I just don't have time for this.

The list of books that I will give in this article is the result of my efforts to identify the most useful books in the field of investing. That is, I "shoveled" network, and compiled a rating of the most frequently mentioned books among investors. Thus, this rating can be considered quite objective.

The result is a list of books that I recommend not only to you, but also to myself :) Yes, I will have to read them all. Just first you need to become a little more free investor. But for this you need to read more books, probably?! Some kind of vicious circle :)

Okay, let's move on to our list. So, TOP 10 books on investing:

1. "The Intelligent Investor"Benjamin Graham

This book is mentioned in almost every investment book rating. And if it’s not mentioned, such a rating is worthless. In my rating, this book is ahead of the others. by a huge margin. What can I say - after reading it in 1950 (this book saw its first edition in 1949), a 19-year-old boy named Warren began his journey to becoming the world's best investor. Yes, I owe it to this book Warren Buffett his 66 billion condition. 66 billion dollars, Karl!

Of course this book is real "The Investor's Bible."

The book is considered quite difficult, but if you intend to join the lists of successful billionaire investors, you will have to master it :)

2. "Essay on Investment, Corporate Finance and Company Management"Warren Buffett

Old man Buffett learned from Graham not only investing, but also the art of writing investment bestsellers. True, if in the first case the student surpassed the teacher, then in the field of writing he lost a little. At least in my rating :)

The book is collection of letters Buffett corporation shareholders Berkshire Hathaway , of which he is the head. This book reflects the philosophy Great investor. Many phrases from the book have become aphorisms.

3. — Bodo Schaefer

Schaefer has long won the love of readers around the world. Many people claim that this book changed their lives.

First of all, this book is intended change the thinking of the average person to the thinking of a millionaire.

This book also talks about how to make a million in 7 years. Not rubles, apparently :)

4. — Joel Greenblatt

The book gives specific investment strategy, And Greenblatt argues that this strategy will work even if everyone knows it.

I see in this book 3 main advantages:

  1. She is not big
  2. A specific strategy is given
  3. Everything is written in very simple language, and is well suited for beginners

5. — Alice Schroeder

And again we return to Warren our Buffett 🙂

The book is very voluminous - approx. 900 pages. And on these pages - all biography The greatest investor . Also, this book is a treasure trove of invaluable experience and advice from king of investments.

Those who have read the book assure that the book, although very voluminous, is worth the time spent reading it.

6. "Warren Buffett. How to turn 5 dollars into 50 billion. Strategy and tactics of a great investor"Robert Hagstrom

Another great book about The greatest investor. The book thoroughly analyzes the methods Buffett, his principles of company management, principles of their evaluation. As you can see, about Buffett many books have been written (this ranking shows only the most outstanding), but what makes this book stand out from others is deep analytical approach.

7. "Rich Dad's Guide to Investing"Robert Kiyosaki

Well, what would a rating of investment literature be without the famous American with Japanese roots, so beloved by our compatriots. Robert, in my opinion, is, first of all, a talented writer and an even more talented marketer. His books sell like hot cakes. Or are these hot cakes selling like books? Kiyosaki🙂 He can! It can!

This book is an independent sequel to the famous bestseller "Rich dad, poor dad" (which, however, itself did not make it into my ranking), and like all books by this author, it is easy to read, since it is designed for ordinary people who are just beginning to master financial literacy. The book provides powerful motivation and fills you with optimism.

8. — Robert Kiyosaki

Another book by the famous American Japanese made it into my rating.

The book is also a kind of independent continuation of the bestseller "Rich dad, poor dad" . In this book Kiyosaki describes in detail the structure of any society. He introduces the concept cash flow quadrant, consisting of 4 parts. These parts are some levels. A person can move from one level to another, but he can only get rich by being in certain parts of the quadrant.

The book is full of examples, and the information from it, as well as from the previous book, is easy to digest and incredibly motivating.

There are plenty of reviews that this book has changed someone’s life for the better.

9. — Michael Lewis

The book is written in the genre of investigative journalism. You won't find practical advice in this book, but it's a breeze to read.

The main character is an investment bank employee Salomon Brothers walking up the career ladder. Thanks to this book, you will understand what exactly people do in Wall Street what are the daily activities brokers And investment funds.

This book teaches you to be on your guard when an employee of a world-famous company offers to buy you certain papers. After all, perhaps they are just selling you some kind of game! 🙂

Quite an interesting and informative book.

10. — Mark Douglas

This book will not give you a finished trading system. But she will show you how to think to become a consistently successful trader.

The author comprehensively shows the difficulties faced by any person who comes to financial market. He teaches a serious psychological approach, which will contribute to stable profits from transactions on the exchange.

Conclusion

This is an interesting rating. A huge number of books on investing have been written, but I tried to select the most popular and effective. I recommend reading them all if possible. I will also read it myself if possible :)

If you are completely new in the topic of finance - I recommend starting with Kiyosaki, Schaefera And Greenblatt. The first two authors write not so much about investments, how much about financial literacy And motivation. For a beginner, in my opinion, just what the doctor ordered.

If you already grated financial roll , and you even know what futures differs from option (and if you don’t know, read :), then you can start with any book from the rating. I'm sure you can master any one, friend!

Read books! Earn Good Profit!

The efficient market hypothesis has many practical applications. It is important for everyone because it can be applied when looking for the answer to the question of how to get rich (or at least not go broke) by buying and selling stocks.

(Box 7.1: From Financial News shows how the Wall Street Journal reports daily stock prices.) To better understand the efficient market hypothesis and its applications, here is a practical guide to investing in stocks.

Can investment advisors be trusted?

Suppose you just read in the Wall Street Journal's "Heard on the Street" column that investment advisers are predicting a sharp rise in oil stock prices as oil production declines. Should you immediately withdraw your savings from your bank accounts and invest them in oil stocks?

According to the theory of efficient markets, the buyer of a security cannot count on extremely high returns (above its equilibrium value). Newspaper information and recommendations from investment advisors are readily available to many market participants and are already reflected in market prices. Based on this information, we will not get very high returns on average. Experience shows that the recommendations of investment advisers cannot help overcome the laws of the market. Box 7.2 shows that investment advisors in San Francisco failed, on average, to predict better than the orangutan!

Heard for the first time, this conclusion causes great skepticism among students. We all know or have heard of people who have had success in the stock market over the years. We wonder: “How could he/she be so successful if it is impossible to predict super-high returns?” The following story published in the press illustrates the unreliability of such a simple judgment.

One person who wants to get rich quickly came up with an interesting type of fraud. Every week he wrote two letters. In letter A he predicted that a certain football match would be won by team A, and in letter B he predicted that team B would win the same match. The mailing list was divided into two groups, the first group receiving letter A, and the second receiving letter B. The next week, he sent letters only to the group of recipients who received the first letter with the correct prediction. After ten matches, a small group of people formed who received all the letters with the correct prediction. Finally, he sent them letters stating that since he was indeed successful in predicting the results of football matches and his predictions brought income to those recipients who bet on his predictions in these matches, he would continue to send them his predictions, provided that he was paid well . When one of his clients realized what he was getting into, the swindler was convicted and sent to prison.

What does this story teach? Even if no analyst can accurately predict the behavior of the market, there is always a group of people who consistently win on the stock market. A person who has had consistent success in the past cannot guarantee that this luck will continue in the future.

\r\nfuture. There will always be constant losers in the market, but we rarely hear about them because no one wants to admit that their predictions are wrong.

Should we be skeptical about “intelligence data”?

Let's say your broker calls you and advises you to buy shares of Happy Feet Corporation (HFC) because, according to confidential information, the company has just developed an extremely effective treatment for athletes' feet and its stock price is likely to go up. Will you follow your broker's advice to buy HFC shares?

According to efficient market theory, you should be skeptical about this news. If the stock market is efficient, then it has already formed such stock prices that their expected return coincides with the equilibrium return.

Confidential information cannot bring you extra profits and is not of particular value.

However, you may ask: wouldn’t secret information containing new (to you) information give you an advantage over other market participants? If other market participants received this information before you, the answer will be no. Once information becomes publicly available, the market quickly eliminates the unaccounted profit opportunities that arise when it becomes available. The new information will be reflected in the stock price and you will only receive the equilibrium return. But if you are the first and only owner of new information, it can bring good luck. Then you will be one of the lucky ones who will receive a super high profit for eliminating the unaccounted profit opportunity when buying HFC shares.

Do prices always rise when there is good news?

Watching the stock market, you can notice a mysterious phenomenon: after the release of good news regarding the expected growth of a company's earnings, in some cases, stock prices do not increase. The efficient market hypothesis and random walk price behavior explain this phenomenon.

Since changes in stock prices are unpredictable, the publication of known or expected information does not lead to changes in stock prices. If new information caused a change in stock prices, it would mean that the price change was predictable. When new information appears in an efficient market, stock prices will change only if the information is truly new and unexpected. If the news is expected, it will not cause price changes. This is entirely consistent with the conclusion discussed above: in an efficient market, stock prices reflect all available information.

Sometimes, when favorable information appears, the price of individual shares even decreases. This seems a little strange, but is entirely consistent with the characteristics of an efficient market. It's possible that the new high numbers announced are still lower than expected. For example, a report that the yield of HFC stock has increased by 15% is unfavorable if market participants were expecting a rise of 20%, hence the price of that stock declines.

The efficient market hypothesis implies that confidential information, investment analysts' publications, and technical analysis cannot help an investor achieve superior returns if all these data are based on publicly available information. Without having more information than other market participants, it is impossible to win. What should an investor do?

The efficient market hypothesis leads to the conclusion that the average investor (which is the majority of citizens) should not try to outsmart the market by constantly buying and selling securities. This process will achieve nothing, except that it will increase the income of brokers who receive commissions on each transaction. Instead, an investor should adopt a "buy and hold" strategy - buying shares and holding them for a long time. With the same income, the investor's net profit will be higher, since the amount of commission paid will be less.

In particular, small investors for whom managing a stock portfolio involves high costs (relative to its value) are advised to purchase shares of mutual funds rather than individual stocks. Given that the efficient market hypothesis says that no mutual fund can beat the market, an investor should choose a mutual fund that firstly does not charge commissions for selling shares to investors and, secondly, has low administrative costs.

As we have seen, many empirical facts support the usefulness of these recommendations. However, the existence of a number of anomalies that contradict the efficient market hypothesis suggests that it is possible for a very smart investor (which is not the case for most citizens) to outsmart the buy-and-hold strategy.

More on the topic: A practical guide to investing in stocks:

  1. § 1. Concept and features of financial markets. Participants in financial investment
  2. § 3. Legal regulation of individual investment contracts and agreements
  3. §2. The impact of APEC integration programs on the regulation of trade turnover in participating countries
  4. §1. Legislation on foreign investment in industrialized APEC member countries (using the example of the USA and Canada)
  5. § 4, Forms of investment activity allowed in APEC member countries
  6. §2.1. Specifics of the activities of foreign legal entities on the securities market of the Russian Federation
  7. § 2.3. Implementation of the status of a subsidiary (dependent) business company as part of a holding structure
  8. A share as a document certifying the existence of a joint stock legal relationship according to the liking of Russia and the USA
  9. A share as a document certifying the existence of a joint stock legal relationship according to the liking of Russia and the USA
  10. A share as a document certifying the existence of a joint stock legal relationship according to the liking of Russia and the USA

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Investing money is a risky enterprise!

It's one thing to buy real estate to save your money.

The main thing is not to fall for fraudulent developers or other scammers, who are also a dime a dozen in this area.

But it’s a completely different matter to increase your money, your accumulated capital, by investing it in a profitable financial organization or financial instrument, for example, in a bank, a consumer cooperative, in stocks, mutual funds, bonds, HYIPs, banal pyramids...

The last two transfers are the most highly profitable financial instruments, definitely no match for banks and consumer cooperatives with a return on an invested ruble from 7 to 30% per year, because these financial instruments, for example, hype brings the same amount to its investors only per month, not per year!

Therefore, many, having heard about such investment instruments, such opportunities, begin to “sleep and see” that by making a contribution (investment) in such a “financial organization”, in such a financial instrument, they will be able to do nothing and receive fabulous monthly profits...at Many people dream of increasing their capital very quickly, growing their investment over time and becoming millionaires...

But as old Hubbard used to say:

“The safest way to double your money is to double it and put it in your own pocket.”

And he was practically right...

My opinion, fact checking and conclusions about investment returns of tens of percent per month!

Many people don’t think like old Hubbard, especially those:

    who consistently earns tens of percent per month from investment activities;

    professionals or, at a minimum, people with experience (at least six months) and results behind them (earning at least tens of thousands of rubles per month)

    those who have received such profitability at least once;

    mostly newbies who are just about to get lucky, who, foaming at the mouth, still rush to tell everyone and prove that this method is real, that they have already received such payments in their hands...

  • and those who create all possible similar predominantly online “financial organizations”.

HYIPs, trust management, systems of mutual financial assistance, economic games with the withdrawal of funds, financial pyramids..., the owners of which and their minions (referral guides) offer you fabulous interest for placing your capital with them (if you believe the advertising, this can be a profit of 0.5 %, one, two, three, four and even more percent per day).

Why do you think so many people like the very idea of ​​the investment process (write in the comments)?

I think so...

Because everyone imagines the investment process like this: you take it, put it in and earn a lot of money!

And all this happened only because you have some amount of money, unlike other people who do not, so you can supposedly be in the “topic”, but they are not?

Yes, and the very words investor, investing are very foreign and beautiful... which give significance to a person and give him the opportunity and chance to puff out his cheeks once again and say to himself - “Who are you?” - “I’m an investor!” and answer the following question: “What do you do?” - “I invest, I make investments!”...

This is an erroneous opinion, because most “investors” lose money rather than earn it!

No wonder I'm higher in the text put the phrase financial organizations in quotes, because the vast majority of investment projects are not!

Because they have no legal “no stake, no yard!”,

official confirmed legal and actual address where you can come and actually find this organization!

All information about the “organization” and its activities is fictional

they do not have any real estate abroad, the territory where they extract minerals, trading on the securities exchange, currency trading and other things that bring this company fabulous income, from which they, in fact, pay investors, all this is a legend and never is being tested!

Activity many such “organizations” is illegal because for the most part All these projects- This “hidden” pyramids who do not legitimize their relations with the state, do not register with the tax authorities, are not subject to taxes and do not keep accounting records!

Therefore, we never recommend such projects, we blacklist all such projects, and we answer all your questions that these are pyramids, that this is a scam, despite the fact that you prove to us the opposite, that you earn money from this, receive payments and other…

So that everyone understands what we are talking about, the first major player on the market was Mavrodi with his MMM. A lot of time has passed since then, Mavrodi was imprisoned, then he was released, but the situation has not changed, but only got worse...

Because many have remained financially illiterate, despite many big scams around the world... And many are still, in pursuit of profit, ready to believe in any fairy tales that are sung to them...

They make money because they know how the business process works in this, let’s say, niche of “shadow investing”!

Namely, they understand and are aware of all the risks associated with this activity, they understand that in such projects, let’s all call them “HYIPs” today, they earn their big percentage only counting that somebody in this business process loses money, that is beginners(who firmly believe that in this process only money rules, there is no need to think or know anything here, that is, put it on deposit like in a bank and forgot, then withdrew it when necessary and became rich, or you sit and live happily ever after on interest from the deposit(s) and nothing bothers you), and someone wins, that is, they - “smart investors”!

Because if no one wins, then such projects simply will not have a place in our lives!

Since if “HYIPs” do not pay anyone’s deposits at the time of their promotion, then no one will ever take their money there, and even more so will never sell their apartments and cars? to make a cool and quick profit from your existing financial opportunities in life...

Therefore, HYIPs pay their investors for a certain period of time and “educated investors”, that is, people who understand this process, who have gained experience through many years of practice, losses, ups and downs, successfully conduct their investment activities, invest successfully, and on average earn in the long term a high return on their investments (up to 100% per month)!

How, for example, does it do Tatyana Baklaga, author of a practical guide to investing in HYIPs.

Its effectiveness at the moment is obtaining a net (with all losses, income and expenses) monthly profitability from 19% to 27% per month, in isolated cases for projects such profitability reached up to 57.4% in two weeks.

Even though there are hypes

from English HYIP - High Yield Investment Program - fraudulent projects, similar to investment funds with high returns!

but they still make money here!

And I checked this fact on myself, studied Tatyana’s guide (previously I was very skeptical about this direction) and conducted a 3-week experiment!

For which I allocated $500, because after studying the manual, I believed in my abilities, although I don’t like this direction, but I realized that I already understood the topic well and can try it differently from an ordinary beginner, as I previously did I imagined everything, but “in a smart way”!

Of course it tickled my nerves, but still I selected 12 “HYIPs” using the method suggested by the author, made deposits... I literally quickly lost on the Club-Investment project (I won’t specifically say how much), but I was waiting for this, since the author warned about the risks, so I was upset, but not so critical?

Then I lost on another “HYIP” and there were no more losses... I managed to withdraw money everywhere with growth... Many HYIPs later burst, for example, invest-media, but I stayed in the black practically 150 dollars!

Here is my one of the withdrawals of funds (I specifically do not give examples of where I earned anything in detail, so that no one would have the desire to invest in my experience in HYIPs that have not yet burst)

As they say, beginners are lucky! Fools too?

But I still have no desire to earn money in this way, because, probably, because everything is in order with my income, I earn good money without it, and I’m not ready to waste my time on the investment process, because I have it simply doesn’t exist in such volume!

And I’m probably not ready to just do this, even earning such crazy monthly interest as 20-30-40-50... And I don’t advise you?

Moreover, the Business Practitioner worksheet store guarantees you the quality of any material they sell, since they themselves check all the information in practice, which can be read about on the materials sales pages in the section from the publisher.

We trust this company, this company is whitelisted. There have been no reported scams on them, so as long as we recommend them, you can rest assured about your purchase. Everything that you pay in this store will come to you, and everything that is stated in the content will be of proper quality!

In the book you will find such information

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  1. Introduction to the topic
  2. Types of instruments in the portfolio
    • Hype.
    • "Trust Management".
    • "Investment companies".
  3. How much can you earn
    • What kind of income can you get if you follow the instructions, invest calmly and use the services provided by the author.
    • Examples of the author's earnings.
  4. Investment recommendations
    • Initial investment amount. What amount should you enter with and why.
    • Diversification. Minimum number of instruments in the portfolio. In what percentage should money be distributed among various areas of investment and projects?
    • Money turnover period. Recommended funds turnover period in order to be able to withdraw money in a timely manner.
    • Reinvestment. Nuances of reinvestment in similar projects.
    • Refback. How to use refback to get additional income on your deposit amounts.
    • Attracting referrals. When it is and is not worth it, and why.
  5. Timely tracking of new projects. For this we use (there will be links):
    • Info-monitoring. Recommendations are given on what kind of information monitoring should be used, since many such services work in tandem with HYIP administrators, serve them as an advertising platform and provide incorrect information. What data to pay attention to in monitoring, in addition to “pays or does not pay” and the project launch date.
    • Publics on VKontakte. Links to public pages where the opening of new projects is announced.
    • Useful investor blogs.
  6. Selection of a serious project.
    • What to pay attention to and what details can give away a fleeting fake project.
    • Tools used (links):
    • site analyzers.
  7. What it gives and what data you need to look at. In the future, it will also be required to track project activities.
    • useful investor forums.
    • useful investor blogs (who should be trusted and who provide good information, not advertising for new projects).
    • reviews of scam sites.
  8. Tracking scams and timely withdrawal of money.
    • Prerequisites for scam and tools used. Where to look for information (links). Tracking work deadlines.
    • The nuances of verification on the threshold of a scam project or how personal data can then go to scammers. What could this lead to?
  9. Analysis of investor activity and identification of errors.
    • Creation of analysis tables for project selection.
    • Creation of profit and loss accounting tables. Why are these tables necessary and why maintaining them is mandatory. Screenshots of the author's tables, what they look like.
  10. Summarizing.

Buy the manual only from its real author!

PS: After purchasing the manual, you will have access to the personal account of a client of an online store verified by the “Business Practitioner” scheme, in which you can study this manual, the manual cannot be downloaded or transferred, the manual can only be studied inside your online account!

PSS: Want to improve your financial literacy, this guide is for you!

PS: If you want to make money on investments, your head will help you!

Because no one can ever guarantee the success of any event!

Therefore, always sensibly assess all the risks and “don’t be fooled” by the sellers’ tales!