Sunday, 2 March 2014

Don't Be a Follower, Be a Leader

            First off, if you haven't taken the time to read through the post about books that I recommend, and you're new to the investing world, take your time and find knowledge first. If you want to survive out here, your mind has to be operating on levels that leave no doubt in your mind. In this business, every decision you make, you will have to live with it. The same is true with life, but when it comes to money, it hits you harder than anything else.
            Scrolling through Yahoo Finance articles and websites like Seeking Alpha are not going to give you an edge if you decide to follow blindly. Want an example? Seeking Alpha had an article by an author about how great the company PHOT is and the stock went up, however, days later, another author posts how PHOT is a sham and its contract with another company is practically nonexistent and unknown to an employee they spoke to and the stock tumbled, in which people probably lost thousands based on the outlook that this is a long-term hold in the booming marijuana market.
            Is this the article's fault if you followed? NO! Every decision you make is your responsibility and this isn't a joke. This website isn't here to tell you which promising penny stocks to watch, I already gave you a resource for that here. Before trading, you must do due diligence and study everything inside out. If you have weak ambitions, weak work ethic, you will get weak results. I have to remind myself to stay disciplined and cut my losses quickly too, but I know all of this pays off. Stay persistent and keep learning.


Superman telling it how it is at 25:30 in this video: