You simply cannot 'refuse to take a loss' if you're buying individual stocks. Sooner or later it will happen. If you were to buy index ETFs you could do it. Plant small seeds and wait for it to become a huge tree...it takes a lot of time.
@LifeofaBoringOldGuy
3 ай бұрын
I have an E*Trade account where I grow my trees. That is my “safe” growth account. I should address that in an upcoming video. You are correct. All trading plans work until they don’t. I’ll see how long this one does. I appreciate the feedback. I hope you enjoy future videos and continue to give feedback.
@richardsanchez7035
3 ай бұрын
Exactly! A Drawdown is never a loss unless you walk away from it....This is why I swing trade on a daily.....
@LifeofaBoringOldGuy
3 ай бұрын
Love it, thanks for watching and I appreciate the comment. I hope you return for more videos and give me feedback.
@michaeldelzitti895
3 ай бұрын
Never sell at a loss. Have reserve capitol and buy MORE.
@ace9840
3 ай бұрын
The problem I noticed years ago with people is they work their whole live for someone they know little nothing about. The currency they work for.
@LifeofaBoringOldGuy
3 ай бұрын
Yes, people panic and get out. I used to do that also. Thanks for watching and your comment. I hope you return for more videos.
@LifeofaBoringOldGuy
3 ай бұрын
So true. People are naturally afraid to take a risk. Whether it’s a job, career or striking out in their own. We are drawn to security. Thank you for watching and thank you for your comment. I hope you return for more.
@xfall86
3 ай бұрын
My first 2 indiv stock picks were bought near ath and proceeded to dip 20% triggering my stop loss. So yes -20% each on 2 stocks.. great
@LifeofaBoringOldGuy
3 ай бұрын
Ugh! I feel ya. I’m going to get deeper into the dip in upcoming videos. I hope you come back for more. The dip is my favorite pattern. Thanks for watching!!
@hansdampf3468
3 ай бұрын
A big problem is that a lot of people just wanna get rich quick. If a stock rises you already have to be in before it starts. If you want to be "sure" to be in before it rises you either have to have some knowledge to get in just the moment before it rises or you have to be in way earlier and have to wait till it rises again. And if you can't handle the fact your balance is down because you already think it's a 100% loss why would you even be in it? Wait till it's low enough, get in, ride the roller coaster and sell high(er). Easy, but you have to stick with it (in theory) 😅
@LifeofaBoringOldGuy
3 ай бұрын
Good stuff. You’re right. A movement starts and people think they must get in or they will miss an opportunity. Typical FOMO. Patience, waiting for the right time to enter and avoiding greed by taking a profit when it happens. It’s a marathon, not a sprint. Small incremental gains over a long period of time. 1% better every day. Thank you for watching and your comments. I hope you continue to watch.
@philipnicholson3216
3 ай бұрын
I might comment that one of your best points was about keeping your watch list limited to 10 stocks. I actually , after decades of trading, realized that limiting your list is one of the most important points. I actually only watch about 6, the same 6 most of the time. That means, you MIGHT not see a good set up every day, and that's is alright. There will always be trades. If you have too many, no way you can stay focused.
@LifeofaBoringOldGuy
3 ай бұрын
Thank you for that. Of the 10 I have, I only focus on 2-3 each day. That helps also. I suffer from shiny object syndrome like most traders and the limit helps. I appreciate your comments and hope you enjoy the future videos.
@luisdetomaso867
3 ай бұрын
Yep. I'm a professional options trader. I have made nearly $400K already this year - and I don't trade ANY individual stocks. I literally trade just three indices: S&P, NASDAQ, and Russell
@LifeofaBoringOldGuy
3 ай бұрын
@@luisdetomaso867 Keeping it simple, love it! Keeps you focused & disciplined! Great job in '24 so far. Hope the rest goes great for you. I traded options and was WAY to undisciplined.
@JakeInvest
3 ай бұрын
i like to buy 1 or 2 shares, because that triggers the stock to fall, and then i buy the bottom and then it falls some more, then i sell and it goes up, but i have secret account they dont know about so its a "sell" but really i only sold it to trigger it to go back up
@LifeofaBoringOldGuy
3 ай бұрын
Interesting. Thanks for sharing. Also thank you for watching. I hope you return for more.
@djwang06
3 ай бұрын
Wow I thought it was only me 😂😂
@LifeofaBoringOldGuy
3 ай бұрын
@@djwang06 Nope, not just you. HA!
@luisdetomaso867
3 ай бұрын
If your thesis was wrong and a stock you picked goes into big drawdown, you should not just hold it blindly. Instead, reevaluate the potential of the stock to recover. Warren Buffett once said "you don't have to make it back the way you lost it". Many times it's better to take the loss and put the money to work in a different trade with better potential
@philipnicholson3216
3 ай бұрын
"you don't have to make it back the way you lost it " - in other words, don't revenge trade
@LifeofaBoringOldGuy
3 ай бұрын
Yes, I’ve read that also. I never go into a trade blindly. Nor would I recommend that. I’m ok with a drawdown that I have to hold for a few days. For me, this is not a sprint to make money quick. Its small incremental gains compounded over time. I appreciate your feedback and hope you enjoy and comment on future videos.
@LifeofaBoringOldGuy
3 ай бұрын
Yes! Revenge trading is extremely unproductive. I’ve done that in the past. Thank you for your feedback and I hope you enjoy and give feedback on future videos.
@JakeInvest
3 ай бұрын
we have all learned a lot over the last few years
@ace9840
3 ай бұрын
But it seems few have learned anything since the 2008 GFC. And I don’t see many ask8ng the most important question when it comes to the economy .. why? Why have things ended up the way they have economically. And now they’re facing an evern worse recession.
@LifeofaBoringOldGuy
3 ай бұрын
And that is an understatement!! Hahaha! Thanks for the comment. I hope you return for more great content.
@LifeofaBoringOldGuy
3 ай бұрын
Easy answer… sheep
@lawrenceshorter2350
3 ай бұрын
First have discipline when buying. Wait till it goes down then buy. If you buy when its up then it goes down 30 % buy more and it will average out now your in a better position when it goes up. If you took the loss its your fault!
@ace9840
3 ай бұрын
I like buying things I know will go up when nobody else wants it. Even if I have to wait years.
@LifeofaBoringOldGuy
3 ай бұрын
Great stuff. The drop is a big component of my trade plan. I’ll be going into that in future videos and shorts. Thank you for watching and your feedback. I hope you return for more.
@LifeofaBoringOldGuy
3 ай бұрын
What a great lesson in discipline and patience. Thank you for watching and I hope you return for more.
@caminhaoraizes
2 ай бұрын
Great video. I’ve learned the hard way that sometimes you don’t have to wait for your take profit to hit to close out your trade and take your profit and run to the bank lol. And biggest thing I’ve learnt is just because you see an opportunity doesn’t mean it’s your opportunity wait for your moment and follow your strategy and go for it and take it from there 🕺☝️Thank you for the wisdom buddy 🙌🙌
@LifeofaBoringOldGuy
2 ай бұрын
Thank you. It’s taken a while to get it somewhat right. The biggest thing, keep learning from what you’re doing, make corrections and be patient. This is not a sprint. Good luck & trade safe.
@joeschmoe1794
3 ай бұрын
Buy and hold TECL and you’ll be fine.
@LifeofaBoringOldGuy
3 ай бұрын
Hahahaha. I also have an E*Trade account where I hold in my Roth. Thanks for watching and I hope you enjoy the future videos.
@ace9840
3 ай бұрын
If you’re losing money in the market .. why wpuld I even watch this?
@LifeofaBoringOldGuy
3 ай бұрын
Hahahaha! That’s the set up. I’m not losing anymore. This series is talking about what I’ve learned and how I’ve changed it around. I know it’s not for everyone, and I’m cool this that. Thanks for your feedback.
@ace9840
3 ай бұрын
@@LifeofaBoringOldGuy Good .. over the decades I’ve seen few who have. I thought people would have learned a lesson after 2008 .. but nope .. its sad.
@kingmike40
3 ай бұрын
You should watch because nothing is a better learning tool than failure. When you can learn from this man's failure without risking your money its a double win for you. Remember the saying "Sometimes you are right. Sometimes you learn."
@LifeofaBoringOldGuy
3 ай бұрын
@@ace9840 Well, the goal is 1% better in everything we do every day. learn from our mistakes and grow. Thanks again.
@LifeofaBoringOldGuy
3 ай бұрын
@@kingmike40 I have a boss in sales a while back, John King. He would always tell us, "you're either learning or you're earning." Those have stuck with me a long time. If one person can earn from my learn, than cool! Thanks for your comments and I hope you'll return for more vidoes.
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