Never Run Out of Money
“An investment in knowledge pays the best interest” – Benjamin Franklin
This is a follow-up to a video I recorded a few days ago where I made a profit of $1,475. I attributed that trade to dumb luck. Well, that’s not really true because I got in at just the right moment where the market was beginning to slide. Here’s the video:
It’s not simply that I got in at just the right time – but also I got out exactly when the market stabilized, for maximum profit.
Here’s why it was not dumb luck at all but rather experience that got me in and got me out perfectly timed. Notice the point when I got in: I noticed that the market was running out of breath and I spotted it and took the trade to the downside. Fortunately for me, it was a momentum move that lasted about 15 minutes. And the reason that I got out when I did was because I recognized the market was not trending and so I didn’t expect the slide to continue. I also wasn’t greedy and I had done very well on the trade and didn’t want to give back any of my gains.
Pretty smart, I’d say. Dumb luck? NOT AT ALL!
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