Where to get Crash Course or Short Useful read on Economics

TradeTune said:
I asked For recommendation.....
:vomit:
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Yes Best way to do it;
1] print a 10 year chart of dow
2]print a 10 year chart of sdow.
[3] print a 20 year chart of qqq.
[4] write all the fundamental data on those charts. Waste of time to waste time with correlations of oil +dow-- dow derivatives day trader said ''dow is correlated to itself''
{of course if you want to trade XOM/CVX/MRO/MUR.... + dow…….. print all data for oil also}
Wisdom is profitable to direct...…………………………………………………………………………….}
 
TradeTune said:
Dummies used for toilet paper. Thanks
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It fits the bandwidth you're allocating to it. There is a curriculum for every budget.

Here is a higher budget:

Go thru the table of contents of a college intro textbook.
Google or use Investopedia for each subject heading.

This assures coverage of necessary pre-requisite knowledge as indicated by a Decades old curriculum.

And if you can't see the value of that, the internet age may have already given you overblown expectations and destroyed your brain.
 
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AbbotAle said:
It's not a smart ass answer. It's the truth.

You want something easy, you want to spend an hour reading 20-50 pages and then become an expert. And let's not forget about the topic you're asking about - economics! A science where there are NO clear answers.

You think by spending that hour you'll be able to compete with people who have taken years and decades to perfect their art. Who do you think is going to win that battle?

No different to technical analysis and everyone saying 'give me the one patterm, that's all I need' but I've only got a few hours if you mind. Again, they hope to be able to win overtime against people who have taken years and decades to perfect their art.

Time = results in this business whether trading or economics.

As for recommendations how about 'Economics for Dummies' Read that and tell us all how you get on.

https://www.dummies.com/education/economics/economics-for-dummies-cheat-sheet/
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Honestly no matter how well a retail trader or investor knows economics and finance they will always be behind the eight ball to hedge funds and whales. The funds will be getting out of the trade as the retail is getting into it. At least with a chart you are right there with them.
 
There's a problem with the entire idea.

You need to understand (really at a minimum)

Micro and macro economics, capital structure, equities, fixed income, securitization, Fed policy and law, tax law, tons of theory ranging from stuff like 'balance of payments' to things like money supply and inflation dynamics.

That's just the tip of the iceberg. The nobel laureates, history of banking, and business cycle are a few more.

You need to be familiar with the monetarist, keynesian, austrian, classical and neo-classical economic theories.

Just for reference, in academia, it's literally Ivy League or nothing. Econ is one of the most difficult things to kick ass in. You basically need to know measure theory and econometrics to an advanced level (just to get in). I know Ph.D mathematicians who hate measure.

Depending on your goals this is similar to saying give me a crash course in brain surgery (because somebody told me it's useful).

The really important shit for a trader to know is the treasury market and rate futures, AKA yield curve.

Most traders don't give a shit what the economists think (none of them agree anyway). They just use the benchmark rates and know what it means. They also know about the market moving economic release data. Pros can talk rates, you can't fake it.

The real measure of knowledge in this stuff is when you can relate all the shit I listed to (and speak intelligently about) central bank policy and real estate markets and how that relates to inflation, unemployment, money supply, etcetera.

Short of that it's just not gonna be useful, IMO.
 
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