Hi, Mark Crisp
Enjoy your long weekend. I am about to take a few days vacation my-self.
Everyone seems to be worrying about what direction the stock market is going….in a word DON”T. Don”t even concern your-self with the day to day “noise” There”s absolutely nothing we can do about where the stock market is going to go..so don”t waste your time on it.
What-ever you do simply follow price and volume. ESPECIALLY volume. That”s the ONLY indicator you need. Don”t do what people “say” follow that they actually do.Especially the really big volume. Institutional or big individual buying.
Look at great stocks like VPHM, NTRI, BCON where we have profited from massively and continue to do so. No following advice. No watching the day to day ticker here. Simply buy them and hang on for the 400?moves they give you.
“THE BIG MONEY IS IN THE BIG MOVES”
Why do most people lose in the stock market? In one word “emotions” They trade too emotionally.They react to the day day corrections. They take profits too quickly and seek advice..WRONG!
Look I made a trade is TZOO last year. I bought around $45 and then watched it FLY upto $76….boy was I tempted to sell. But being a disciplined Momentum Trader I simply HAD TO FOLLOW MY RULES. HAD TO. FOLLOWING MY RULES IS MORE IMPORTANT TO ME THEN MAKING MONEY!
So I then watched it fall to $50…Yep I watched $20 in “paper” profits disappear. Not a problem as to become a master trader you have to be willing to give back a fair portion of your profits in the HOPE of much bigger profits (write this down!) And then back it zoomed to over $100. I finally got out about $90.
My point here is you can”t have the conviction to do this kind of trading unless you have a proven system. Rules you are 100 appy with. You must be disciplined and whatever you do..NEVER listen to any outside advice. I”ll bet my life everyone was screaming sell TZOO at $70….$60 and $50….
This kind of trading leads to massive oves in stocks. It stops you from over trading as well. Have you ever bought a stock. Made a quick 20?profit in it then sold. Patted your-self on the back and said “a job well done” You then go and trade another 2 stocks and lose 10 n each one. giving back al your profits. Now the real sickener is the stock you sold out of for that quick 20 rofit in is now up 100?….And you feel sick. You could have made much bigger profits by simply hanging in there. Do NOT OVERTRADE…..another big reason people lose.
Enough from me. I hope you at least think about what I say here. Stock trading is unlike any business in the world. It”s not about “work” as such but about managing emotions and trading to a set method and being true to that method. Many people struggle here….professional money managers included.
Master this and the “world is you oyster” It”s your call.
Sincerely
Mark Crisp
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