We’re all looking for it – though many of us can’t define it.
What is success to you? What is it to me?
Success is so relative to the individual – that achieving it is personal. We have our own definition of what it actually means to succeed.
There are a few things that are just universal.
Let’s talk about something that’s obviously very near and dear to us – success in the market.
We could all define success in our specific area of interest as making money as opposed to losing money. That is the basis of what we’re looking to do…
But to what degree you can do that is what will define your own level of success.
Some of us just want to have fun and try to make a little dough on the side – maybe save up for a new bike or a vacation…
Others of us (present company included) take this process very seriously and often consider success earning enough money through the buying and selling of stocks that we’re afforded the chance to live a comfortable, if not opulent, lifestyle.
It all depends on who you are…
However, if success is your goal in investing – what are you doing on a daily basis to ensure it happens?
Sure, we all have our little rituals and routines – but are you doing them mindfully and with a purpose? Or are you doing them out of habit? Going through the motions, if you will…
There are a few things – regardless of your level of involvement – that you can be doing every day that could mean the difference between recording profits or logging losses.
How do I know?
You don’t turn $250K into $5.5 million* without figuring out a few things – and I’ll share a few of them with you – but I use these three factors to gauge the broader market and maintain my current positions, and success often follows.
The first thing I do every morning, before I check the financials and see how China and Europe did, is to check the news.
Yes… just the news.
In my humble opinion, the news can often be a better indicator of how the market could react than the checking the financial sites because you can get a better understanding of the pulse of the world.
Things could be happening – geopolitically speaking – that weren’t affecting the foreign markets. I look to see what the overall feel is on the world before I delve into financials.
This has helped me stay ahead of the storm on some of the bigger events and ultimately, allowed me to turn some surefire losses into gains.
The next step after getting an overall feel for how the world is feeling.
Checking the financial sites. Sure, getting some updates on stories is great, but the real reason to check them is to see how the foreign markets did overnight.
What happens in the East and Europe often dictates how our day is going to go – giving me another piece to my success puzzle.
But not the final piece…
The last side to my success triangle is simple: I login to my trading account and look at my portfolio and the past year of their performance history.
When taken in conjunction with the news and the markets, this performance history is what allows me to gauge whether I may need to buy more, sell or hold.
I do all this… every day the markets are open.
And that’s just what I do for current positions – I don’t even want to get into what I do for prospective picks. Let’s just say that it’s all this – plus a LOT more…
But it’s a small price to pay to stack the odds in our favor.
That’s just a taste of what you get as a subscriber of GorillaTrades…
I’ve said it before, I’ll say it again – I make it easy for you to make money. All of these steps – everything I do – I do so you don’t have to!
Your job is simple: buy or sell at the points detailed in the nightly email. GorillaTrades tells you EXACTLY when to buy and EXACTLY when to sell, in simple terms that anyone can understand.
You don’t have to wake up before the crow and scour the internet for news and happenings, you don’t have to understand how one country’s new regulations affected European markets – nor do you even need to login to your trading account and look at histories of performance.
You simply read an email, then click “buy” or “sell”…
I can’t make it any easier for you.
But, if you want to do the same amount of work as I do – I’ll see you on the interweb at 4am…
I’ll be sure to say hi!
“Some people dream of success, while other people get up every morning and make it happen.” – Wayne Huizenga
* Please note that this happened during the dot-com era, and Ken used both margin and options to leverage his account. This result is not typical and it would be very difficult to produce this type of return in the stock market today.