Subject: Just by the dip bro!
I knew a guy who worked on the oil rigs a long time ago.
He made great money, but he spent it like a drunken sailor on shore leave.
It seemed he always had a new vehicle in the driveway, was going on vacation or was getting some new toy.
But a couple years later, the price of oil dropped and the oil patch slowed down.
Almost overnight the industry came to a screeching halt, and my neighbor was stuck at home with no work.
He lost his house and had to sell off his toys.
I guess he never had a back up plan in case something changed.
He must've figured that he would always have work, and that there was no need to worry.
It reminds me of the trading mantra that millions of investors have followed over the past 10 years: "Just buy the dip."
And you know what?
It worked every time.
Until it didn't when the Fed started raising interest rates.
And because these traders didn't realize that the winds of change had started blowing, they were left holding huge losses.
It would've been better to be an index investor who buys and holds, rather than to have been a trader who missed the trend change and continued to "buy the dip".
Thankfully, our team noticed the changing trend & we navigated around the pitfalls - posting winning trades all this time.
The moral of the story: there's no harm in changing your approach or having a back up plan in case something changes.
You can see how our plan's working at TheEmpiricalCollective.com
Have a great day!
Brett
He made great money, but he spent it like a drunken sailor on shore leave.
It seemed he always had a new vehicle in the driveway, was going on vacation or was getting some new toy.
But a couple years later, the price of oil dropped and the oil patch slowed down.
Almost overnight the industry came to a screeching halt, and my neighbor was stuck at home with no work.
He lost his house and had to sell off his toys.
I guess he never had a back up plan in case something changed.
He must've figured that he would always have work, and that there was no need to worry.
It reminds me of the trading mantra that millions of investors have followed over the past 10 years: "Just buy the dip."
And you know what?
It worked every time.
Until it didn't when the Fed started raising interest rates.
And because these traders didn't realize that the winds of change had started blowing, they were left holding huge losses.
It would've been better to be an index investor who buys and holds, rather than to have been a trader who missed the trend change and continued to "buy the dip".
Thankfully, our team noticed the changing trend & we navigated around the pitfalls - posting winning trades all this time.
The moral of the story: there's no harm in changing your approach or having a back up plan in case something changes.
You can see how our plan's working at TheEmpiricalCollective.com
Have a great day!
Brett