Trade Findings and Adjustments 10-02-2020
Just going to share some thoughts today and list them on down
I’m NOT even going to record it and just make this an open thought group for today
There are NO wrong answers and there are no stupid questions
Trump tested positive early this morning for Covid-19
The futures immediately dropped 450 points and were down as much, that I saw, 559 points
Typical over reaction !!!
Why? Markets don’t like uncertainty, the ignorant think it’s a certain death sentence or he is dead already,
SO, many people have been asking for protection to be cashed in for a profit.
How would feel today without protection?
We do the best we can to protect during the most probable times of uncertainty and downward market movement
Sometimes you pay for insurance and you don’t need it
In life you have two choice when it comes to money management= passive or active management
Passive = ignore phone calls, talk once a quarter or more likely yearly, send a Christmas card and in times of trouble “ Relax and be patient it will come back” Even though it might take 12 years
Diversification protects you !!!! Stay in the game!!! I’ve got a better investment than what I just recommended to you six months ago !!!!
Active = Trying to make up a portion of the downward movement.
Hedging in some way shape of form
Typical day : Up at 5:30, 6 -7:30 reading or searching for information, 7:30-8:30 Always in front of the computer,
8:30-10:30 work related, 10:30-11:30 East coast lunch break (eat), noon until 1:00pm work related, 1-2:00pm market closes and I am in front of a computer. 2-3:00pm I am checking individual accounts (roughly 100) to check to see if any are out of wack, if more than 0.50% off the S&P I need to re evaluate, 9.5 hour workday
BUT twice a week, Monday and Tuesday, I do a webinar to give you guys the opportunity to touch base with me in regards to your accounts = 4.5 hours and another a couple hours for Thursday
A typical work week = 47.50 hour workweek plus 4.5 hours 52 hours a week
Notice there is no advertising, no marketing, to after hour calls, no dinner, no travel,
I have to find other times to do all of the above