Why do people make trading so complicated? 🤔
I truly do not understand why people insist on making trading so unnecessarily complicated. It’s fairly simple:
- Only buy quality stocks
- Use basic technical chart analysis
- Be patient
Maybe because it’s not sexy or fast enough for their liking? Maybe because they want 5 screens with 20 charts and flashy indicators and strategies that they need to spend hundreds of dollars on to learn from finance gurus or they don’t feel like they’re truly a trader.
The truth about getting rich is that slow and steady wins the race. Most people trying to get rich quick find that you can get poor even quicker.
Some people say “Oh, you just got lucky with that pick” but luck is just the following formula:
Luck = Preparation + Opportunity
As the saying goes, luck is what happens when preparation meets opportunity. PREPARE by building a watch list of quality companies. Then when the OPPORTUNITY for a good setup (basic chart analysis) arises you are poised to be “LUCKY.”
Here’s an updated chart for COSTCO from today and below it is the chart from my previous post.
As I always say, just use the KISS method: Keep It Simple Stupid.
It doesn’t need to be complicated, sexy, or quick in order to work. Heck, it doesn’t even have to be expensive! You can learned everything free right here on this blog 👇👇👇
UPDATE — Aug 12th
As always a coffee or two is always appreciated — Big shout out to Vinay who kept me caffeinated last month with 3 coffees. Cheers to you, sir!
Trade long and prosper!
🖖
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