Loading ...My philosophy
Think of Apple … Amazon… Microsoft.. and Gold in early 2000’s
Condition your mind.. less effort.. less daily minutia of analysis.. less headaches… less stress… I value my time…
Yet I still spend ALOT of time on the technical analysis world… not to scalp, or daily trade, but to fine tune my skills to prepare my self emotionally and technically.. to be able to spot… weight the evidence a potential long term meaning full bull market… mostly for position trading (which could end up a swing trade if volatility triggers me out).
Then hold on! Till the weight of evidence declares it has run it’s course.
Source https://twitter.com/LMT978/status/1217023643114442753
Great reminder and so true
Just try not to end up like Mr. Livermore did
🙂
It is only by holding an asset class you make money. I have my physical gold since 2005. I am up almost 200%, average return of 8%/year for 15 years and no stress of company related news.
Awesome to hear. I already have stress being a father of two boys.. plus my ongoing career as unix engineer… I love trading.. but dont want it to be an additinal stress.. thats why I now prefer position trading.
my experience with gold stocks is that if you buy cheap producers, sooner or later you will get your reward. It involves some risk and contrarian thinking, but I have less stress holding cheap names than expensive ones, as these are overvalued and more momentum plays.
I just finished reading that book a few months ago and am already a much better trader as a result. I started getting serious about a year ago about learning how to improve on emotion prevention / management. It has by far been the very best personal investment Ive made as a trader. We can create all the charts we want but without emotional discipline, a person can easily chart their way to finical destruction. Thanks for the great reread!
Great to hear. I think I’m gonna re read it this month… keep my mind off daily noise