Things are bad and they're about to get worse, that is, if you're, an investor in this market you're having a bad week or month or career right now, if you look at your portfolio, it just looks ugly. As i mean i'm not gon na lie about it. Now the thing is that in the market like this, you have to just chill now day traders swing traders. They love this volatility, they live for the they enjoy, they embrace it, but i mean to be a good, effective day trader or a swing trader.
Uh i mean what you got to do is basically, you know be able to dedicate a large portion of your time to this. I believe that you got to be full time to be effective at this now, most of you that watch my channel have jobs and you can't actually become a day trader or a swing trader beyond the fact. I don't think it's worth this. You know the skin is worth the game emotionally of doing that job, but every man, then their choice, we're here to make investments with a little bit of pizzazz to add some risks.
But in general we don't want to look at our portfolios every single day and manage stocks get in get out like most of us are here for some risks, but you know generally, we like investments right now in this market. The worst thing you can do is check your portfolio daily, because the only thing it's going to do is just give you more heartache and more pain and you're just going to get completely annihilated by these fake numbers, because these are just numbers on the screen. Until you sell it's just a number on the screen now right now, it's kind of a perfect storm, so to speak. We have, on the one hand, december coming up, which is a time where a lot of people take losses for tax purposes, a lot of individuals, funds and and even companies.
They execute trades right now, it'll last and buy back in immediately just to grab that capital loss, which is just a tax exercise you by the way, you feel free to do it as well. If, unless you're under a year also, we have a lot of uncertainty with omicron, a lot of uncertainty with the fed and the interest rates and powers becoming hawkish again and whatnot, and all that good stuff. So it's kind of the perfect storm of the market being really down right now and as an investor checking up at folly, right now, every single day is going to put you emotionally in a very depressing place like a belarus or uzbekistan, i mean you don't want To be there, uh jokes, aside, love belarus, love, uzbekistan, i'm just saying you know making some russian jokes. What can you do in this market? I mean obviously, as an investor, you have to embrace the fact you're investing long term and just let it go and write it out.
You can't be looking at it and completely beating yourself up, because eventually, if you keep looking at a portfolio and you're going to make a stupid, emotional decision is going to completely you up long term. If you're in a stock long term don't check dailies at least not now when the market is so bad, if anything, it's a really good time to just increase holdings in the companies you like, because most of them are on sale. It's quite obvious, but just let it go just make a promise to me. Okay, let's make a promise to each other as investors right to check our portfolio once every two weeks until further notice. I know that sounds crazy, but that's like a diet. You got ta weed off as a junkie. You got ta win off that trading app once in every 14 days. Just let it go.
Let it go because if you check it daily eventually your mind and your psyche is going to push you into a horrible decision. Don't do it. Things are not as bad as they seem look just take the s, p, 500 and zoom it out every little crisis. We had it always bounce back, it's impossible not to if you have the patience, if you don't need money right now for medical expenses or rent, just let it ride and just chill trust me.
Things are not as bad as they seem. It's like having a fight with your girlfriend at 3 am and things look destructive. You wake up the next morning. You drink a coffee.
You eat some cake. You have some makeup, love all of a sudden things. Don't look so you know so bad. Just let it go chill do stuff, you love, don't check your portfolios daily, just let it go!.
By Stock Chat
where the coffee is hot and so is the chat
How am I going to buy opportunities if I don't check the prices? 😀
Man ur like master Shifu in the movie kunfu panda.. And advice of lifetime especially on such days 🙏👍
We're in a market correction right now,that's just my opinion
I'm checking daily and buying, you'd probably not see this price anymore.
I've been buying 200$ per paycheck in AMC all summer and just reached my 1000 share goal! Now I get to pick my next big buy-in at a discount I'm definitely watching all your stock reviews from this summer. THANKS TOM!
Yeah, it's itching! At least! I just lurked around, again, to find the extra dip in the dip 🙂 Love Belarus, so colorful and multi cultural.
I trade $aapl options every day, literally. It works.
I guess, fair point to not check if you're going to panic, but I've got some cash to deploy so I'm checking constantly to see where the deals are. The bad news is the deals seem to be drying up… the good news is portfolios are recovering today. 🙂 (We'll see if that lasts or if it's just a breather while the market reassesses values).
Great time to buy 😀. Do we think it’s going to drop further before recovering? Any guesstimate on how long the dip will last? Thanks
The only true way to test if it's a free market is mating with market makers wives.
see what happens
I was sitting here wondering what is the worst thing I can do today… and you spilled the beans 😉 thanks hahah
Great info! Thanks always a good reminder right now I try not to look at my shares right now, patience is a massive virtue in the market, and I’m all in on Tesla so they will do find lol
Thanks for the video, good recipe. I prefer your other videos, not on the go, but it is OK. Thanks.
as a day trader, yeah, volatility is a money maker. but i do have some longs. when the market drops (thanks omicron), i buy more shares on airlines. again, as a day trader (TTS), losses are fully deductible, unlike investors $3k limit per year. day traders are not restricted from the wash sales, LoLz. just sell off your bad trades, buy back in and deduct your losses.
Many thanks for this Video
Nice to ear from you with such advice. Not that I was planning to do something stupid, mas It’s to reinforce the way to go.
Damn! You just convinced me to not check my portfolio daily! It’s a promise, 14 days from now
I check stocks daily cuz i find it fun (listen to stock livestream while i work).
I rarely check my portfolio, but i especially avoid checking my portfolio when market is down lol.
Ill occasionally watch stocks that r doing really well when whole market is down to be entertained cuz i dont needa cry over unrealized losses.
Amc has def made me an unemotional investor lol.
Also took some profits over the past weeks so I'm chill af right now. Just eager to get back in again… already started to nibble here and there but if I learned something over my short investing history is patience!
worst advice ever.. Thats how people at the bottom sell, and buy at the top.
3rd comment, just to say "Thank you that helped"
already realized some losses in $ARVL and bought back in immediately for tax reasons. It's below SPAC price right now and imo great company
After hearing this, I've deleted my trading 212 app, I'll check back the start or 2022, longest detox of daily checking.
Used this opportunity to rejig my portfolio and have higher convictions on some of my holdings. Had to take advantage of that Palantir Dip!
since the dislike button is gone i will be substitute. like this comment to dislike this video.
Some people are on margin on penny and growth stocks.
Good advice but in looking everyday. Watching us part of the learning experience. Without watching the loss, i cant truly appreciate the win. If the market only went up all id do is win and never be humble. I cherish losses, becuase i can finally learn and see something new and be better prepared the next time. What doesnt kill you makes you stronger, stay thirsty my friends.
That’s why it’s good to have mainly stocks for the long term… checking every two weeks is good advice…
Embrace the red days. Buy the dip! Raise your quantity!
Is the company profitable?
I think we’ll soon move into a market where you’ll have to do your homework, not just “believe” in a company. Good luck to all
I’m sharing this with one of my friends who’s dying from stress atm 😂