“Live to trade another day.” That’s my motto!
The market will at times cooperate with great ease, and at other times it will chew you up and spit you out.
Your job is to never expose yourself to the point that you’re unable to “live to trade another day.”
The beauty of the stock market is that there are over 7,000 different tickers to trade, so there’s always an opportunity somewhere.
You just have to find it!
Don’t Be Reckless
If you can’t find it, step back. Take a breather, and enjoy a little time off.
The stock market isn’t going out of business… The entire world economy operates around it.
What you don’t want to do is start getting reckless just because you feel like you have to put on a trade in order to be a “trader.”
That is a junk theory if I’ve ever heard one.
The best traders in the world know when it’s time to be in the market and when it’s time to be in cash.
I’ve approached my life from a defensive stance, meaning I’ve always looked at and planned for the worst-case scenario.
In most instances, that worst-case scenario never came to be. But I was prepared for anything regardless.
Did I ever get rich quick? Nope! But I also never went broke!
Be Prepared for Anything
I’ve witnessed so many folks go from little to nothing… They get “lucky” a few times and then think they’re untouchable…
They start living a lifestyle that becomes unsustainable only to eventually fall back to the place they originally rose up from.
That’s not a plan, in my opinion. That’s just flat out reckless!
I want my relationships, my businesses, my investments and my finances to be as steady and level-headed as humanly possible.
Every time you prepare to place an order, your first thought should be the same…
Am I willing to take the risk associated with this position?
And more importantly, does this choice allow me to live to trade another day?
Join Ross This Afternoon
Before I go, I want to personally invite you to a special presentation with my colleague and expert stock trader Ross Givens.
Ross’s premium Alpha Stocks research service recently recorded a 21.6% gain on the downside in only eight days as Pegasystems Inc. (PEGA) stock plunged…
As well as a gain of 21.3% in just 15 days in Permian Basin Royalty Trust (PBT).
And last Wednesday, Ross closed another winner in ProPhase Labs, Inc. (PRPH) for a two-day gain of 5.8%.
Rules to Live By
“The best thing to hold onto in life is each other.” Audrey Hepburn
Until next time, I wish you a beautiful and blessed day!
Yours In Trading Success,
Anthony Speciale Jr.