In the past I’ve done well doing random speculation. Really, it was probably more like gambling early on. Took my Roth IRA from 8k to around 60k during the period of 2006 to 2011. Since then I got busy and haven’t done much with it. I’ve been wanting to really get back into the markets and have been looking for the right approach. Currently it is more of the investor mindset… Buy and hold and keep buying as it drops via automatic contributions through a 401k. During my recent readings I’ve found that most the great traders seem to have one thing in common and that is concepts from investor business daily. Buying companies at new highs and playing for breakouts and limiting losses. I’ve been burned in the past with companies imploding overnight but have come back from those losses and learned not to invest in pure junk/hype since then. Stop losses wouldn’t have helped as the companies literally went from 30s to single digits in after hour trading due to earnings reports. I came across your book while purchasing momentum masters as your book was in the list of books other people buy. I came across momentum masters after buying Mark Minervini’s books which also focuses on breakouts. More than anything I’d like to be able to work hard, study hard, and learn now, more than ever, how I can better position myself for financial freedom beyond working a 9 to 5 job as I’ve come to enjoy spending time with my 3 year old. Being financially limited by resources is never fun so I’m actively looking how to make my current resources also work harder for me.
I understand. I can help.
Places to start: