Just wanted to say thank you

Dec 12, 2022 04:03 PM 0 Answers
Member Since Dec 2022
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I lost a small fortune (for me anyway) this year staying long a couple of stocks I had no business being long in. Determined to never let that happen again I started reading like crazy and when I got Minervini's book it all screamed this is the path for me. Picked up marketsmith and have been digesting information like crazy for the last 1 1/2 months.

That said, I just started trading this way two weeks ago. Figured if I can do even half decent in a market like this, I can certainly do well in a bull market. But I second guess everything still so it's amazing having access to someone of your caliber to learn from and run thoughts by.

If I'm asking too many questions, your always welcome to tell me to calm it down though haha.

Appreciate your service!

Thank you for you kind words!

There is no such thing as asking too many questions. Please ask anything at any time.

Often times the best way to learn is through failure as it reminds us to "never do that again." I am sorry that you lost one hanging on to a stock. But, that happens to all of us.

We are trying to make money trading growth stocks and the year 2022 has been harsh for growth stock investors. Mainly because the federal reserve is raising interest rates and that makes the multiples contract. Also, the higher rates act as a tax on future growth. When a growth stock stops growing we no longer want to own that stock. We want to enjoy the upside and avoid the downside.

I am familiar with Mark Minervini's work, and know that he is a great trader. But, this year has been challenging even for the best growth stock traders. I spoke with a few highly regarded growth stock traders last weekend and they confided to "double digit" losses this year.  Making money in stocks is not a linear process. We will stick with it and never give up!





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