I'm doing great, better than ever in my trading life. lol Really. I think 99% of retail traders know how to make profits, they just don't have the discipline to "take" profits. It's hard to get out of a position when you're seeing those green candles go higher and higher and you see your P/L% go up, up and more up. GREED is a powerful force and is hard to resist, but I find the traders who are consistently profitable are the ones who have a handle on greed. Money is easy to make. Who can't win a bet that has a 50/50 chance of success, choose up or down...easy? The key is to get out with a profit and you have taught me to just get the HELL OUT even when I want to stay in. That seems to be what you stress versus other trading gurus out there who teach people how to trade. Heck, an introductory book on trading gives an individual enough skill to make money IMO, but have they DEVELOPED the DISCIPLINE to TAKE PROFITS? That seems to be what you STRESS day after day. IMO that's what people need to hear. Just reading the comments here it seems like most of these folks understand the GET THE HECK OUT concept. So.....you've done your job quite well Greg. We really can't ask for anything more.
The key I’ve found to be a successful investor is to HOLD. Selling will only keep you from hoarding wealth. I got my friend into Bitcoin, he held for 2 years and sold everything at $12k. Only several weeks later, it reached $30,000. He hated himself for not holding longer. And he never bought back, saying the price was too high.
The truth is, we all gotta find the holy grail of the convergence of technology and obscurity. Bitcoin is both amazing tech and almost no one uses it. With that in mind, timing a sell would have a >50% of setting us back than propelling us forward.
It took me years of pulling my hair out to understand that “swinging for the fences” means “sit back and don’t touch the sell button” 😁
Greg, you have taught me how to turn a loosing trade into a winning trade. No one else did. Since following you, I have turned a modest 25k trading acct into over 2M and now I'm killing it by being able to follow your trades with the right amount of money each time. I thank you for that !
Patricia, do you have certain rules you follow about when to take a gain and close a position vs when to cut your losses? Congratulations on your success!!
Yes, but how I do it, may not work for everyone. I don't keep anything in overnight. We know this market is rigged against us.
Have a goal of ONE level up,... Meaning a 17$ Call costs 3.25 and 18$ Call costs 2.50. Buy the 18$ Call and when it reaches 3.25 Cash out, or close out before 4pm. Start fresh the next day. I buy as many as I can afford, and I always push 50% of the profit out to my checking acct. Pay yourself each time for a job well done, don't risk it. If I can buy 1,000 option then I do. 1,000 x .75 = 75,000. Walk away from trading for the day and go celebrate. Many can only buy 10. That is where I started. Dont look to make a high profit. Just go ONE level up each time.
What does Greg say, Bulls make money, Bears make money, pigs get slaughtered.
If you buy as many as you can afford, then how do you buy the dip? Also, if you never leave money in overnight, how can you hold when you're down? A few things you've said are contradictory and the claim of turning 25k into 2 million is pretty remarkable. Seems a bit fishy to me.
I woukdnt buy as many as I can at once, I meant including the dips. My goal is to day trades. Previously stated only holding overnight IF having to add to a dip and then wait for a pop up the next day. I don't sleep well leaving stuff in overnight, even with a few long term insurance puts for crashes. Those I definately keep, knowing they may never pay off. But maybe they will cover what I have trading, on the day when a crash occurs.
No. In that case, I buy the dip enough to reach an average that equals the current price and wait for the pop up. If it goes lower, I buy the dip again. But you have to save enough powder to do so. I usually buy expirations 3 months out, so it gives time to pop up and take a decent profit. My goal is to day trade at a profit, not a loss. Those looser trades have to wait overnight and may have to buy the dip Again or wait it out. Having dry powder is super important.
ok, so with 3 months out you usually are ok just dollar cost averaging? i made a terrible mistake couple weeks ago and tried that but it just went the other way entirely and only one month out. lost everything i paid on it
Yes, I did that in the beginning and kept loosing. I realized I had to make time be on my side and not theirs. I buy IN the money trades that are 3 months out. Close when they go ONE level higher. Buy the dip if needed. I usually buy in the morning, not at closing, unless I am buying a dip and waiting it out.
I had a $20,000 gain this year and it is my first year of learning ETF day trading..mostly with the help of my sister who is not familiar with options. I am not tech savvy on how to get an ebook and I really want to learn options but I am a full time self employed hairstylist so I am watching my trades in between clients. I want to learn options but I would like to have someone who is familiar with them around me when I do my first one. I started your video series but it will take some time. Thank you! Thank you! Thank you...for helping me see that taking a gain is never wrong. I have not been greedy and it has paid off. I have a lot to learn about options.
Hello, Greg! I just want to say THANK YOU! The last 6 months were the best in my entire trading career. I'm pretty sure I would have been shorting the market several times if I hadn't met you. Now I see things differently.
Love your daily soundbites Gregory - streetwise. Just starting the trading journey and your book is really helping me understand the fundamentals of the finance market. Thank you for your generous support and encouragement.
Hey Greg, Happy New Year!! Thank you so much for all of your hard work and dedication to helping us all here. I enjoyed reading your book a lot and have benefited in a change of mindset because of it. My goal in 2021 is to fire my boss, but first need to be able to trade any market and not just a bull market.
While I did not take as many trades or make as much money as others on here, I was able to win on one's that built great confluence for me based on technical analysis. In your book, while it covers a lot, does not dive into technical analysis. Perhaps make an addendum for that topic?
Following you and seeing the comments left on on your messages, I think that your lions will benefit greatly from a recorded day trading session with you. That is teaching them how to get in and get out with a profit alive. I feel the sentiment is that some just act without first building on facts. Moreover, I think your lions want to see how you do it.
Thank you again for doing all of this, especially for free. I'm learning a bunch of interesting stuff and I'm sure everyone else is. You have a great following and that's something to be proud of. Please teach them all how to hunt, get their prey and make it out alive.
Greg, Thank you very much for all you do for us! The book is awesome and worth ten times the $16.00 I paid. My trades so far are 85% profitable! Thanks again.
Hi Greg, Thanks for the market wrap ups. I’m up, not huge, but 15 % or so. I’m holding/ trading around 5 or 6 stock positions - most thanks for getting away from trying to make sense of things. I used to think about fundamentals and technicals now think about the story and technicals. One things to share, I’ve added gun and ammo makers to my watch list. There should be a good story to trade there, recently bought into 2 sold one with a nice gain.
I plan on buying your book, Years of mercury teeth filling(taken out now) damaged my health, and 50 cent hot dogs filled with nitrate (mom fed me, now I am bout 50 ) whatever strength and time I have (work 92 hours per week) I am trying to understand how to make money side ways, market going up, market going down. (TRADEWAY told me the same thing)
Over last 10years I lost bout 50K or more in the market, bitcoin etc. (no more FOMA- fear of missing out)
I am getting your WHOLE counsel, not bits and pieces. Following you by paper trading.
it's so tough isn't it? i also am mercury poisoned/vax injured and chroncially ill just trying to make a living with what little energy i have...i also lost in all of the above! lol...:-/ but i think i've learned a lot and hopefully moving forward will be success and ease for both of us.
I don’t know boss. I can’t say it’s been phenomenal. I mean. I started out with 6350$ and with the markets currently being down, if I were to sell everything. Which I won’t. But I’m only at 6500$. I did suffer that loss back in oct with intel that we all did. And so far. I have recovered. Then to suffer that spy loss that the boss did in December. But did recover from that also. So I guess. I’m sitting about where I started from. And that’s following all the bosses trades that I can safely afford. I do realize that I’m more likely sitting at about 7500$. But I can’t say I’m killing it. I kinda wonder if there’s something wrong with me. I wonder if I’m the only one not killing it like everyone else is. I know one of the lions posted a gain of 225k$. That’s impressive. I would love to do that. So I guess. All I can say is I’m trying my best to se everything the boss saids to do.
Hey Jesse, you sound tight. Try to remove the doubt and second guesses from what you’re doing, it’s like in ‘the last samari’ “to much mind”. Don’t worry so much what others are doing. Greg is awesome at being Greg. There’s lots to learn from him, but you be you. I’d like to trade the options like he does, but can’t cause of time constraints, so prefer to do stocks as time is not against me, sometimes i trade options.
Great month. All of your trades have been very profitable, and I’ve felt much more in sync after reading your book, as it has balanced my trading in many ways so far. If there was something I did wrong, I would say it is closing winning positions too early and being too aggressive at one point adding to a losing position,
It’s never wrong to pull profits. You can’t know about the remaining upside until afterwards. It’s just as bad to lose a 5% because you didn’t get out waiting for more. And your cash can be reinvested straight away.
It depends on how it evolves. My default out signal is +10%. If I went in at a too high price compared to the evolution after my getting in, either I average down by price steps of -10% or I put my goal down to +5% or less. Might be zero. At worst I keep it overnight but I don’t like that. My technique isn’t applicable to every trade nor everyone. It just helps me to not react out of feelings of greed or fear.
I had a terrific start to the year, made $100k from Christmas Day to January 2nd, and decided to sell 2/3rds of my Bitcoin position on the 4th.
From there, Bitcoin rose another $10k to $42,000 and I flipped out. Eventually converted 1/2 of my newly liquid cash back into Bitcoin a couple nights ago at $29,500.
Question: I still got some cash (enough to buy 4 Bitcoins) just waiting to jump in. Buy now, or wait for a drop to $23k-$27k range?
Please let me know your suggestions. I’m not even 25 years of age and want to fulfill my promise to my parents that I could retire by 25 without a college degree. Thanks :)
I’d love to go to school for music composition and work for Hollywood creating film scores ... but that could be saved for later in life, like my 40s or 50s. Currently I’m most interested in industrial design, specifically in the tech space. Maybe designing Apple products, if I’m lucky enough. That ALSO requires a degree, like music does. It will take up a large chunk of time.
I’m doing life backwards, retiring first and then going to university to pursue my real passions without fear of falling out of a career path. Just hoping it all works out. Greg really changed my perspective on the world as a whole, back in 2016. This man is one of a kind. Glad both of us are following him :)
I hope you can spend the next few decades following your newest passions too. We all deserve time to explore new things without fear or doubt, especially if we’ve played our cards right.
I should probably replace “retiring” with “financially free” but I just interpret retirement as not having to work a job for money, but rather chase my passions for fun.
Don’t take what I think as an answer. But I don’t feel that bit coin will go down that far. I think we saw the lowest it was going to go a few nights ago. I strongly feel we will see it go up to 50-55k. Then I see it droping back to around 40-44k to retest that new floor. Also known as a cup formation. It works both ways. By the time it’s all said and done. I think it might go up as high as 100k in time. But not before it retests a new high then sets a new floor again. So my feeling is it will work it’s way up from here to 50-55k. Then drop back down to 40-44k. Maybe even 38k. Then go back up to 60-70k. Then back down to that 50k floor. Then back up. I do not know this for sure. And things can change. But that’s how I see it going. I could be wrong. And this is not advice. Just my thoughts as a nobody.
That’s a good question. Part of it is a gut feeling. Nothing is telling me it’s going to crash. Can it? Sure. There’s nothing that would stop it. But I don’t see that happening. I just have a gut feeling.
Greg If you could do a talk on what publications or journals u use daily or weekly to do ur research on stocks. This is the most important part of investing “due diligence” and there is so many different subscriptions n publications out there u don’t know who to use or specifically who to trust, so if you could recommend some or let us know who you trust, that information would be priceless. Thank you
I knew nothing about trading options and I didn't know anyone that traded options but I decided to give it a try anyway. I made a couple of big mistakes which cost me some money. I let my emotions get the best of me. I'm working on that. I still made money tho which was great. I'm planning on rereading your book to really let it sink in. Thank you for your trades.
I’ve been there too brother. It’s a work in progress. Give it time and don’t give up. All that matters is that you get back up one more time than getting knocked down. It can be done. I lost 4k to my learning and stupidity. Which was a little more than half of what I had. I came back from it. It took a little time. And required me to wait things out more because I had less to work with. But that taught me patients. Hang inthere. :)
I'm doing great, better than ever in my trading life. lol Really. I think 99% of retail traders know how to make profits, they just don't have the discipline to "take" profits. It's hard to get out of a position when you're seeing those green candles go higher and higher and you see your P/L% go up, up and more up. GREED is a powerful force and is hard to resist, but I find the traders who are consistently profitable are the ones who have a handle on greed. Money is easy to make. Who can't win a bet that has a 50/50 chance of success, choose up or down...easy? The key is to get out with a profit and you have taught me to just get the HELL OUT even when I want to stay in. That seems to be what you stress versus other trading gurus out there who teach people how to trade. Heck, an introductory book on trading gives an individual enough skill to make money IMO, but have they DEVELOPED the DISCIPLINE to TAKE PROFITS? That seems to be what you STRESS day after day. IMO that's what people need to hear. Just reading the comments here it seems like most of these folks understand the GET THE HECK OUT concept. So.....you've done your job quite well Greg. We really can't ask for anything more.
The key I’ve found to be a successful investor is to HOLD. Selling will only keep you from hoarding wealth. I got my friend into Bitcoin, he held for 2 years and sold everything at $12k. Only several weeks later, it reached $30,000. He hated himself for not holding longer. And he never bought back, saying the price was too high.
The truth is, we all gotta find the holy grail of the convergence of technology and obscurity. Bitcoin is both amazing tech and almost no one uses it. With that in mind, timing a sell would have a >50% of setting us back than propelling us forward.
It took me years of pulling my hair out to understand that “swinging for the fences” means “sit back and don’t touch the sell button” 😁
not the same thing as options trading tho
Options trading is casino-based; the house always wins. Odds are priced in — always.
Greg, you have taught me how to turn a loosing trade into a winning trade. No one else did. Since following you, I have turned a modest 25k trading acct into over 2M and now I'm killing it by being able to follow your trades with the right amount of money each time. I thank you for that !
Patricia, do you have certain rules you follow about when to take a gain and close a position vs when to cut your losses? Congratulations on your success!!
Yes, but how I do it, may not work for everyone. I don't keep anything in overnight. We know this market is rigged against us.
Have a goal of ONE level up,... Meaning a 17$ Call costs 3.25 and 18$ Call costs 2.50. Buy the 18$ Call and when it reaches 3.25 Cash out, or close out before 4pm. Start fresh the next day. I buy as many as I can afford, and I always push 50% of the profit out to my checking acct. Pay yourself each time for a job well done, don't risk it. If I can buy 1,000 option then I do. 1,000 x .75 = 75,000. Walk away from trading for the day and go celebrate. Many can only buy 10. That is where I started. Dont look to make a high profit. Just go ONE level up each time.
What does Greg say, Bulls make money, Bears make money, pigs get slaughtered.
Thank you for sharing! Makes total
Sense and I think would suit my personality well. You are gold, like GM!
If you buy as many as you can afford, then how do you buy the dip? Also, if you never leave money in overnight, how can you hold when you're down? A few things you've said are contradictory and the claim of turning 25k into 2 million is pretty remarkable. Seems a bit fishy to me.
I woukdnt buy as many as I can at once, I meant including the dips. My goal is to day trades. Previously stated only holding overnight IF having to add to a dip and then wait for a pop up the next day. I don't sleep well leaving stuff in overnight, even with a few long term insurance puts for crashes. Those I definately keep, knowing they may never pay off. But maybe they will cover what I have trading, on the day when a crash occurs.
i thought it was pigs get fat and hogs get slaughtered.
you even close out of trades that turn red at the end of the day?
No. In that case, I buy the dip enough to reach an average that equals the current price and wait for the pop up. If it goes lower, I buy the dip again. But you have to save enough powder to do so. I usually buy expirations 3 months out, so it gives time to pop up and take a decent profit. My goal is to day trade at a profit, not a loss. Those looser trades have to wait overnight and may have to buy the dip Again or wait it out. Having dry powder is super important.
ok, so with 3 months out you usually are ok just dollar cost averaging? i made a terrible mistake couple weeks ago and tried that but it just went the other way entirely and only one month out. lost everything i paid on it
Yes, I did that in the beginning and kept loosing. I realized I had to make time be on my side and not theirs. I buy IN the money trades that are 3 months out. Close when they go ONE level higher. Buy the dip if needed. I usually buy in the morning, not at closing, unless I am buying a dip and waiting it out.
Hi Greg,
I had a $20,000 gain this year and it is my first year of learning ETF day trading..mostly with the help of my sister who is not familiar with options. I am not tech savvy on how to get an ebook and I really want to learn options but I am a full time self employed hairstylist so I am watching my trades in between clients. I want to learn options but I would like to have someone who is familiar with them around me when I do my first one. I started your video series but it will take some time. Thank you! Thank you! Thank you...for helping me see that taking a gain is never wrong. I have not been greedy and it has paid off. I have a lot to learn about options.
Hello, Greg! I just want to say THANK YOU! The last 6 months were the best in my entire trading career. I'm pretty sure I would have been shorting the market several times if I hadn't met you. Now I see things differently.
Love your daily soundbites Gregory - streetwise. Just starting the trading journey and your book is really helping me understand the fundamentals of the finance market. Thank you for your generous support and encouragement.
you the man greg please do some live streams
Hey Greg, Happy New Year!! Thank you so much for all of your hard work and dedication to helping us all here. I enjoyed reading your book a lot and have benefited in a change of mindset because of it. My goal in 2021 is to fire my boss, but first need to be able to trade any market and not just a bull market.
While I did not take as many trades or make as much money as others on here, I was able to win on one's that built great confluence for me based on technical analysis. In your book, while it covers a lot, does not dive into technical analysis. Perhaps make an addendum for that topic?
Following you and seeing the comments left on on your messages, I think that your lions will benefit greatly from a recorded day trading session with you. That is teaching them how to get in and get out with a profit alive. I feel the sentiment is that some just act without first building on facts. Moreover, I think your lions want to see how you do it.
Thank you again for doing all of this, especially for free. I'm learning a bunch of interesting stuff and I'm sure everyone else is. You have a great following and that's something to be proud of. Please teach them all how to hunt, get their prey and make it out alive.
Greg, Thank you very much for all you do for us! The book is awesome and worth ten times the $16.00 I paid. My trades so far are 85% profitable! Thanks again.
Hi Greg, Thanks for the market wrap ups. I’m up, not huge, but 15 % or so. I’m holding/ trading around 5 or 6 stock positions - most thanks for getting away from trying to make sense of things. I used to think about fundamentals and technicals now think about the story and technicals. One things to share, I’ve added gun and ammo makers to my watch list. There should be a good story to trade there, recently bought into 2 sold one with a nice gain.
I plan on buying your book, Years of mercury teeth filling(taken out now) damaged my health, and 50 cent hot dogs filled with nitrate (mom fed me, now I am bout 50 ) whatever strength and time I have (work 92 hours per week) I am trying to understand how to make money side ways, market going up, market going down. (TRADEWAY told me the same thing)
Over last 10years I lost bout 50K or more in the market, bitcoin etc. (no more FOMA- fear of missing out)
I am getting your WHOLE counsel, not bits and pieces. Following you by paper trading.
Thank you for telling the truth about trading.
it's so tough isn't it? i also am mercury poisoned/vax injured and chroncially ill just trying to make a living with what little energy i have...i also lost in all of the above! lol...:-/ but i think i've learned a lot and hopefully moving forward will be success and ease for both of us.
I don’t know boss. I can’t say it’s been phenomenal. I mean. I started out with 6350$ and with the markets currently being down, if I were to sell everything. Which I won’t. But I’m only at 6500$. I did suffer that loss back in oct with intel that we all did. And so far. I have recovered. Then to suffer that spy loss that the boss did in December. But did recover from that also. So I guess. I’m sitting about where I started from. And that’s following all the bosses trades that I can safely afford. I do realize that I’m more likely sitting at about 7500$. But I can’t say I’m killing it. I kinda wonder if there’s something wrong with me. I wonder if I’m the only one not killing it like everyone else is. I know one of the lions posted a gain of 225k$. That’s impressive. I would love to do that. So I guess. All I can say is I’m trying my best to se everything the boss saids to do.
Hey Jesse, you sound tight. Try to remove the doubt and second guesses from what you’re doing, it’s like in ‘the last samari’ “to much mind”. Don’t worry so much what others are doing. Greg is awesome at being Greg. There’s lots to learn from him, but you be you. I’d like to trade the options like he does, but can’t cause of time constraints, so prefer to do stocks as time is not against me, sometimes i trade options.
Great month. All of your trades have been very profitable, and I’ve felt much more in sync after reading your book, as it has balanced my trading in many ways so far. If there was something I did wrong, I would say it is closing winning positions too early and being too aggressive at one point adding to a losing position,
It’s never wrong to pull profits. You can’t know about the remaining upside until afterwards. It’s just as bad to lose a 5% because you didn’t get out waiting for more. And your cash can be reinvested straight away.
do you have a minimum though you'll pull or just pull $20 kind of thing?
It depends on how it evolves. My default out signal is +10%. If I went in at a too high price compared to the evolution after my getting in, either I average down by price steps of -10% or I put my goal down to +5% or less. Might be zero. At worst I keep it overnight but I don’t like that. My technique isn’t applicable to every trade nor everyone. It just helps me to not react out of feelings of greed or fear.
yeah sometimes, some of my averaging down buys i just sell when it hits break even and just hold a few to make a profit.
ok that helps thanks
I had a terrific start to the year, made $100k from Christmas Day to January 2nd, and decided to sell 2/3rds of my Bitcoin position on the 4th.
From there, Bitcoin rose another $10k to $42,000 and I flipped out. Eventually converted 1/2 of my newly liquid cash back into Bitcoin a couple nights ago at $29,500.
Question: I still got some cash (enough to buy 4 Bitcoins) just waiting to jump in. Buy now, or wait for a drop to $23k-$27k range?
Please let me know your suggestions. I’m not even 25 years of age and want to fulfill my promise to my parents that I could retire by 25 without a college degree. Thanks :)
What will you do after retirement? I'm 66.
I’d love to go to school for music composition and work for Hollywood creating film scores ... but that could be saved for later in life, like my 40s or 50s. Currently I’m most interested in industrial design, specifically in the tech space. Maybe designing Apple products, if I’m lucky enough. That ALSO requires a degree, like music does. It will take up a large chunk of time.
I’m doing life backwards, retiring first and then going to university to pursue my real passions without fear of falling out of a career path. Just hoping it all works out. Greg really changed my perspective on the world as a whole, back in 2016. This man is one of a kind. Glad both of us are following him :)
I hope you can spend the next few decades following your newest passions too. We all deserve time to explore new things without fear or doubt, especially if we’ve played our cards right.
I should probably replace “retiring” with “financially free” but I just interpret retirement as not having to work a job for money, but rather chase my passions for fun.
Don’t take what I think as an answer. But I don’t feel that bit coin will go down that far. I think we saw the lowest it was going to go a few nights ago. I strongly feel we will see it go up to 50-55k. Then I see it droping back to around 40-44k to retest that new floor. Also known as a cup formation. It works both ways. By the time it’s all said and done. I think it might go up as high as 100k in time. But not before it retests a new high then sets a new floor again. So my feeling is it will work it’s way up from here to 50-55k. Then drop back down to 40-44k. Maybe even 38k. Then go back up to 60-70k. Then back down to that 50k floor. Then back up. I do not know this for sure. And things can change. But that’s how I see it going. I could be wrong. And this is not advice. Just my thoughts as a nobody.
every bitcoin run up was followed by a huge crash. why is this time different?
That’s a good question. Part of it is a gut feeling. Nothing is telling me it’s going to crash. Can it? Sure. There’s nothing that would stop it. But I don’t see that happening. I just have a gut feeling.
Hey Greg, just wanted to show you this badass jacked up short-bed 1972 ElCamino. It's got a great paint job.
https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Ftse1.mm.bing.net%2Fth%3Fid%3DOIP.hHvCodj7MVfxG4xmpvViogAAAA%26pid%3DApi&f=1
Greg If you could do a talk on what publications or journals u use daily or weekly to do ur research on stocks. This is the most important part of investing “due diligence” and there is so many different subscriptions n publications out there u don’t know who to use or specifically who to trust, so if you could recommend some or let us know who you trust, that information would be priceless. Thank you
I knew nothing about trading options and I didn't know anyone that traded options but I decided to give it a try anyway. I made a couple of big mistakes which cost me some money. I let my emotions get the best of me. I'm working on that. I still made money tho which was great. I'm planning on rereading your book to really let it sink in. Thank you for your trades.
I’ve been there too brother. It’s a work in progress. Give it time and don’t give up. All that matters is that you get back up one more time than getting knocked down. It can be done. I lost 4k to my learning and stupidity. Which was a little more than half of what I had. I came back from it. It took a little time. And required me to wait things out more because I had less to work with. But that taught me patients. Hang inthere. :)