FOUR STOCK MARKET NEW YEAR RESOLUTIONS These are the only two things that are ever on All About Trends' mind -- regardless of what's going on in the markets, we might add. This is where our focus always is and your's should be too!
New Year, new goals right? NOT. Rather new year, same goals. Our goals every month at All About Trends are always the same.
Goal #1 -- Protect the value of your account
Goal #2 -- How am I going to get my $500 a week. Why only $500 a week, well those modest gains will give you the following annual returns:
One of the ways we do this is by focusing upon "What Is The Total Value Of My Account?" Bottomline, do I have more money in my account at the end of the month than I did at the beginning of the month. That's all that really matters. We focus upon that and that alone because at the end of the month and at the end of the year, that is how you'll have known you are successful.
What won't be paid attention to is how many companies do I own that are "good" companies. We've said it before and we'll say it again, a company is only as good as its stock. If the stock is going nowhere, what's the sense in risking our capital? It's all about money in motion and keeping it in a positive motion.
Sure some months will be great and some months you'll have to work as hard as you ever have just to get the 1st down. But alas, it all works out.
Are you making money in the market? If not, what are you going to do to change that?
"IS 2010 THE YEAR YOUR PORTFOLIO TAKES OFF?"
FOUR RESOLUTIONS TO GENERATE CONSISTENT PROFITS IN 2010
These are the only two things that are ever on All About Trends' mind -- regardless of what's going on in the markets, we might add. This is where our focus always is and your's should be too!
To achieve consistent gains in today's market, you MUST have a plan and trade your plan. This means you must know what kind of an investor you are, must have a plan, must know what to look for and how to trade it and have only one goal: to raise cash in your portfolio. These are the elements that make for successful stock market investing.
The four resolutions below will help you do so with confidence and excitement knowing that following them will indeed make 2010 the year your portfolio takes off.
RESOLUTION #1: I WILL CREATE A PLAN BASED ON WHO I AM AS AN INVESTOR
RESOLUTION #3: I UNDERSTAND IT'S A MARKET OF STOCKS, NOT A STOCK MARKET
The answer is simple. It's a market of stocks, not a stock market. Like we said in Resolution #1, market direction shouldn't matter. All that matters is finding stocks that have completed set-ups ideal for significant gains and doing what the chart tells you.
RESOLUTION #4: BEFORE I INVEST, I KNOW MY STOP LOSS AND MY PROFIT EXIT POINT
For example, we have a simple rule: Buy at support and take profits at resistance. Before we make a trade, we look at the chart to ensure we are buying it at support or support is within 5-10% of our buy point. There are patterns out there everyday that allow you to get in at the lowest point possible where your downside risk is minimal.
Disclosure: No positions