Trading And Investing Trolls
Trading And Investing Trolls
A troll sent me a comment about a previous video where I applauded making 5% in a stock after holding for four weeks.
The troll said, "I do not see why you are so happy making 5% in a stock after holding it for 4 weeks. Ohhhh... big bucks, don't spend it all in one place."
Worn-out clich aside, this troll has got to learn a crucial truth about trading.
This is simply not Hollywood. Stock investing, I am talking about genuine profitable stock trading is modest gains day in and day out, week in and week out, month in and month out, year in and year out.
Whatever false idea Hollywood has put in your mind about the exclusive and exciting life of being a stock trader, you need to let it go.
You just aren't going to become rich by finding the next Target or Google.
You have to quit trying to hit a home run with every stock you purchase. Simply focus on getting a base hit. How's that for a worn out clich?
Returning to the troll which was making fun of my 5% gain in 4 weeks trade.
Let me crunch the numbers. If you start out with just $2,000 in your trading account and make a 5% gain a month, in 1 year your $2,000 will turn into $3,200. In 4 years, your $2,000 will turn into $13,107. The truth is, starting out with $2,000 in your trading account, if you make just 5% a month, your initial $2,000 will turn into $2.3 million dollars after 15 years!
In fact most amateur traders imagine that making 5% every thirty days in the stock market is not great. Amateurs have dreams of making millions of dollars quickly. As a result they are suckers to penny stock ripoffs that promise one-thousand percent gains and more. The truth is, scams involving pump and dump low liquidity stocks are all over the Internet and are among the most recurrent litigation by the SEC.
Don't get me wrong. There are lots of strategies to make money trading stocks. The one thing that all the many ways of making money in the stock market have in common is that they all take a long time. Anybody that offers you easy and quick riches in the stock market is somebody you ought to have nothing to do with.
Everybody who trades for a living has something in common. They've built up their fortune over many years. Real profitable stock trading is very monotonous. It can't be made into an interesting movie or book. There is nothing prestigious or romantic about stock trading. It is a bare knuckles, dog eat dog brawl.
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