It feels good to close out a fast double-digit profit!
We’ll be able to close out the week with our heads higher, but it’s a reminder of why we need to stay in the game.
The best opportunities to generate wealth.
The savvy investors are able to create separation in market environments.
In the last 60 years of Warren Buffett’s investing career, have we ever heard him say, I’m sitting this one out?
He missed bubbles like the dot com boom but has been a shark in every market reboot in the last six decades.
It can be scary at times, but let’s remember this…
Scared money never wins!
It’s a challenging time in a lot of our lives, but you’ll get through this.
The worst thing to do is panic right now.
When we panic, we jeopardize our future.
The opposite of panic is being cool.
It’s easy for me to say because I’ve been doing this for so long.
So let me share a trading secret that will help you.
Tade one contract.
It’s better to stay engaged and risk a little, then to be scared, risk a lot, and lose it.
Staying engaged isn’t about making money, it’s about getting you confident and past the hump of panic.
Once you’re past that hump, so do the profits.
Every week we will continue to step up to the plate, wait for the pitch, and swing for the fences.
We play to win!
Right now, our open positions are:
Barrick Gold Corp. (NYSE: GOLD) May 1, 2020, $25 call (GOLD200501C00025000)
Date: April 21, 2020
Reason: We followed our signal, which indicated that prices were about to soar higher.
Outcome: Exited for 60-70% gain.
Notes: We played exactly the way we should. We took profits into strength. Shares did pop higher on Thursday and it looks like we left money on the table. That would be second-guessing ourselves. We can only focus on what we control, which is managing risk and profits.
As always, keep sending your questions and feedback to [email protected]
Have a great weekend and I’ll have a new trade for you on Monday morning.