Good Monday Morning Everyone!
Well the Super Bowl was last night and
I think the better team won with hard work,
commitment, and an AMAZING D-FENCE!
Now I'm not a Giants, or a Pats fan, but I do
like the Super Bowl. Last nights game was
a pretty good game and I'm happy to see Eli
and the Giants defy all and win. But my best
friend Jon asked me last night about trading and
what I thought would be a Super Bowl stock for this year.
We got into a good discussion about some of the
big movers last year (CROX, HANS, and a few
others)...and what could be this years Super Bowl
stock so he can "get rich quick".
I told him "to be honest...I HAVE NO IDEA! No one
really does. The market has so much going on right
now, that some are saying that Bank of America
could be this years winner solely on their Sub-Prime
positions! Some are saying that shorting the financial
sector is where the moves are made because there's
still a lot to write down. There may be a penny stock
out of Canada thats ready to discover the water to
crude formula!"
Then I addressed his "get rich quick" comment:
"Jon", I told him, "you're my best friend, you were the
best man at my wedding, you'll be my god father to
my next child, but if you ask me something that stupid
again I'll never talk to you again." He was shocked!
He didn't understand why he couldn't get rich trading
and take an easy trade and buy himself a new Corvette!
The next 2 hours were spent explaining that 100% of all
traders lose money at some point or another. 100% of
traders second guess their trades, get ticked about
a bad trade, and dwell too long on what could have been.
At the end of the second half the game was no longer
important to him. He was more interested in what is
realistic trading goals. I told him, "if you make 10%
every year, you're a winner. He said, "WHAT??!?!?
You're a pretty good trader, a smart enough guy,
and you're around smart traders and all you think is
good is 10%??"
The reality is, that I think he finally learned, that trading
is not the lottery. You won't make a million dollars
in 1 trade, you'll probably lose money, and trading is
HARD!
We stopped talking the 3rd quarter as I think the
beers were getting to him, but at the start of the 4th
he came back and said, "ok what do I have to
do to get 10% returns." I told him there is no easy way
but the best way is to spend some time learning
about different trading styles, methods, and money
management skills.
"Jon" I told him, "it took me 3 years of reading and
studying before I found what I liked to trade, how
I felt comfortable trading, and what NOT to do. All
that changed when I had access to VIDEO education
via INO TV." He's never been much of a reading fan,
as he's much more of an auditory learner, with really
not much time to sit and read. So I told him that
INO TV will be a great way to learn BEFORE he makes
his first trade.
With all the money being lost on a DAILY basis, the least
he, or ANY trader, can do is expand their own knowledge
base. It's never killed anyone to learn about something.
I've never watched a seminar and said to myself "I didn't
learn a single thing from that". You pick up info all the time
and can either apply or reject what you've learned.
Have a GREAT trading week and check out INO TV today
because if Jon can do it...you can to.
Learn more about INO TV HERE
