Safe to say that everyone is thrilled that it is a 3-day holiday weekend on Wall Street. Count me in that group as well. Following the massive sell-off on Friday and again on Monday, and then the face-ripping rally that followed through the close today, we have all seen our share of action over the last six trading sessions.
For me though it wasn’t a volatile time for my portfolio. Wisely, I didn’t carry any long positions into the Brexit vote, for the very reason I thought that the market was setting itself up for failure. And I was proven correct.
During the sell-off I used the opportunity to do some shorting on Friday and to then buy the dip this week. While the extent of the rally is quite amazing, I never deviated from my desire to control risk. I never put myself into a position to where the market would sell-off hard and my only hope or life line would be for a bounce to erase a bad decision. That wasn’t me. I made sure at all costs I stayed in control and managed the risk on my trades.
So when you look at my past performance, you won’t find rabid volatility suddenly hit my portfolio like it hit so many other traders out there. Instead, I slept peacefully, grabbed some popcorn and watched what the market wanted to give me as my next trade.
A lot of traders that ignored their stop-losses was thrown a life-line when it decided to bounce in the manner that it did. But that isn’t skill – it is simply luck. And if you are going to survive this market for the long-run, you have to have more than just luck from time-to-time.
I don’t like draw downs and I avoid them like the plague. When I make trades it isn’t out of hope or trying to be brave or fearless. It is done with the simple purpose of increasing my portfolio’s overall value. If I am not doing that, I am simply wasting my time.
With the second half of the trading year upon us, it has no doubt been a difficult year for many traders, funds, banks, etc. And it is understandable as to why; this market does not lend itself to easy profits. But profits can be made and should be made, and if you want to start consistently profiting in the stock market, then give SharePlanner Splash Zone a test drive.
With your membership you will get access to all of my real-time trades, the chat room that I trade from each day, as well as my real-time trade alerts via text and email. It is Free for the first 7 days and you can cancel at anytime.
With The Splash Zone, you will get my low risk and high probability trade setups that no other trading service can offer.
Start Your Free 7-Day Trial Today!
