Master your mindset to conquer fear!
The other day my stock broker Emailed me a recommendation for a Bear Call Spread. The recommendation included a nice explanation of how the stock price would move and even a chart.
Nonetheless, I still didn’t take the recommendation due to fear! I won’t detail what a Bear Call Spread is, but it’s a stock market strategy where you profit when the stock decreases in value. Yep, that’s right, decreases. It also has a limited downside risk and you can make a nice profit on a small outlay.
In this case my outlay would have been around $2,500 to make $1,200 gross profit. So that’s a 48% return which compared to what banks offer is phenomenally nice. Of course banks usually come without risk and it’s the possibly of loss which creates fear.
So instead of taking the broker’s recommendation I decided to leave it for another day to see how the stock price would move. Silly me because over night the broker’s recommendation came true and the stock dropped by about 70 cents. This movement was substantial enough to make the $1,200 profit in under 24 hours!
The reason I held back was because I’ve profited from four consecutive trades (yes, four in a row so you’d think I’d have some faith) and became worried that my good fortune was about to end. Now that’s very a silly thought process. Anybody who understands the Laws of Attraction would be well aware you must align yourself with your desired outcome by thinking positively and believing the outcome is possible.
So while I didn’t lose any money, I still missed out on an opportunity to make $1,200 in less than 24 hours, with very little effort, and even the luxury of a comprehensive explaining why the trade was a great opportunity. I’m kicking myself! So the moral to the story is get your mindset in check when trading!
If you’re new to trading the stock market like myself and want some advice how to get started then...
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That's how I started.
The DVD explains how to get you into the game and start profiting! But it’s not limited to the stock market, it also covers real estate, how to get out of debt and get a pay rise in your current job!
