Best books for #Elliottwaves. A thread:

1. Frost & Prechter's "The EW principle" - it's the Bible
2. The complete EW writings of Hamilton Bolton
3. Visual guide to EW trading by Wayne Gorman & Jeffrey Kennedy
4. EW principle applied to the FX markets by Robert Balan

1/ There are a ton of books about Financial & Fundamental Analysis, Scuttlebutt and Technical Analysis. But there aren't many books 'taking risk'.

Among the few that exist, 'Zurich Axioms', written in 1985, is the best. Here are my key takeaways from the book.

2/ A bit about Max Gunther's (The Author) background. He was an Anglo-American journalist and writer, who wrote 26 Books.

His father, Franz Heinrich, was the New York Head of Schweizerischer Bankverein, which later merged into the famous Union Bank of Switzerland (UBS).

3/ The 'Zurich Axioms' were a set of unwritten rules followed by a informal group of Swiss Bankers and Traders who used to socialize around Wall Street after World War II. Mr. Heinrich was one of the founding members.

Max Gunter formalied these 'Axioms' by writing about them.

4/ There are 12 'Major Axioms' and 16 'Minor Axioms' (Corollary to the Major Axioms) in the book.

But remember, this is MY key takeaways from the book and not an exact summary. So you might find quotes, phrases and links inserted here and there by me (Not from the Author).

5/ Axiom #1: In order to earn returns, you must take risk. Risk will make you worry.

Risk-taking and worrying go hand-in-hand. If you're not worried about an investment, you're not taking risk.

Spend half your energy towards earning an income and the rest towards speculation.

10 books that taught me more about life + death than I learned in 6 years of medical school:

#1: Dear Life by @doctor_oxford:

#2: The diving bell and the butterfly by Jean-Dominique Bauby:

#3: This is going to hurt by @amateuradam:

@amateuradam #4: When breath becomes air by Paul Kalanithi:

15 Powerful Visuals About Psychology & Life

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@PrashPeru88 this book but a older edition

1/15
#LetsTalkMoney by @monikahalan is all about US understanding OUR Needs & Wants, & constructing OUR Money Box.

It helps BUILD a system in place , rather than focusing on a (non existent ) single shot solution.

MUST READ FOR ALL !

#BookRecommendation

A 🧵 on it .
👇

2/15
Firstly, build your own system to manage Cash Inflows & Outflows .
Find a way that's least troublesome but automatically separates the 2.

#Budgeting & #Allocation must not be a cumbersome task !

Easy bifurcation helps in Better mapping.

A bird's eye view on the same 👇

3/15
Moving onto Emergencies . This pandemic has made so many of us realise the importance of it .

Another interesting facet :
Unwillingness to take risks comes from the FEAR of not having money when needed - typically why Bank F.Ds are preferred.

Hence the EMERGENCY fund.

4/15
*It shall DIFFER from person to person.
*Understand HOW to go about it & BUILD up your fund.
*It takes 2-3 months time to figure out our expenses & 6 months - 1year atleast to build up this fund.
*So be patient ! 🤷
Don't jump the gun .

#EmergencyFund pointers:

5/15
Moving onto #HealthInsurance .

It takes just one Hospital visit to realise the importance of a comprehensive Health cover . 🙄🤷

Sharing a few points that must not be missed prior to taking a policy .

The book explains EVERY POINT in DETAIL along with examples.