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Knowledge is Power

 In my last post I touched on the need to know about how the share market works.

Let me ask you this:

If you were a sailor, would you set out without knowing anything about the weather or tides or the currents? Of course not. In fact, you would know what the weather was expected to do over the next week or so, expecially if you are going on an extended journey. Not doing that could threaten your life.

The stock market is the same. Knowing how it works, what the influencers are, what the timing of certain events (quarterly reports EOFY reports, specific market reports for specific companies - after all, you don't need to know the world's weather for a day's local sailing, just the weather in your area - news events (like the USA Presidential elections), etc), what the charts look like, and more. 

Nasically, the more you know, the better your chances of making great decisions.

Surround yourself with knowledge and knowledgeable people, and that will significantly improve your returns.

If you are after a resommendation: I can recommend books by William O'Neil (no, I don't get any commission or kickpack for the recommendation - his boks gave me some great insights). Yes, they are based on the USA markets, but the principles remain constant for everywhere.

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