3 Rules for Speculating

Even income investors won't turn down a quick profit...‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

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Click here to learn more. - Mable Buchanan, Managing Editor FINANCIAL LITERACY The Right Way to Speculate Marc Lichtenfeld, Chief Income Strategist, The Oxford Club I'm the dividend and income guy - which means I loudly profess taking deliberate steps that slowly build your wealth and income. I love it. After having done it in my own portfolio for 30 years, I can tell you that I still get a thrill every month when I look at my statements and see how much income is coming in. But I recognize that dividend income doesn't get the adrenaline going or release dopamine in the brain for some people. And you know what? I love the excitement and profits of trading too. Turning a quick profit is an incredible feeling. There's nothing like turning $500 into a quick $1,000 - or when your profit represents something tangible, like a mortgage or rent payment. As fun as a winning trade can be, a losing trade can be not only deflating but also devastating if the loss is too large. So when speculating, you want to make sure you're doing it the right way. SPONSORED Are You Ready for Stockflation? This unstoppable force is going to shake the market... Is your retirement portfolio prepared? Get Ready Now - See How Here are three things you can do to make sure you don't let all of your hard work from investing and trading go down the tubes because of a momentary lapse in judgment... Use stops. When you're speculating, it's easy to let your emotions control your decision making. That's the worst thing you can do. Setting stops provides you with an exit strategy when you enter the trade. It ensures your emotions don't take over and wreck your portfolio because you couldn't pull the trigger and sell a loser early. Stops will also allow you to hang on to profits when the trade turns around so you don't let a winner become a loser. Know why you entered the trade. Traders have all kinds of strategies for entering a trade. It could be based on fundamentals, technicals or something they observe at the mall... Whatever it is, if things change, it's time to exit. If you entered a trade because a technical indicator suggested the stock was going higher and instead it falls, you need to get out. No hanging around thinking, "Well, earnings are coming out and I like the company..." That's not why you entered the trade. If your initial reasons aren't working, exit the position. Don't allocate too much capital to any one position. If you're losing sleep over a position or are stressed out about it, you put too much money into the trade. Wealthy Retirement's publisher, The Oxford Club, recommends that you put no more than 4% of your capital into any one trade. That way, if you get stopped out with a 25% loss (our recommended initial trailing stop), you've lost only 1% of your capital, which is not difficult to make back. Whether you're trading small cap stocks, options or cryptocurrencies, trading can be lucrative and fun. The good news is that it's fairly simple to take the proper steps to protect your portfolio and your stress level. Good investing, Marc P.S. Want to get started with smart speculation but unsure how to begin? This is just the kind of thing I talk about in my VIP Trading Research Service Predictive Profits. I've found a $30 crypto stock that I believe every American should own. It's just the opportunity to get your feet wet without fumbling with a digital wallet or subjecting yourself to Bitcoin's notorious volatility. Click here for all the details. Leave a Comment MORE FROM WEALTHY RETIREMENT Claim Your Stake in the Crypto Market How to Profit From the Crypto Craze Why Dogecoin Is Bound to Roll Over Facebook Twitter Email Share Push Alert SPONSORED There's a Reason The Washington Post Calls 5G "The Mother of Invention"... And it's not just because your internet will be faster. 5G will power technologies that were UNTHINKABLE a few years ago. We're talking about driverless cars, remote surgery, holograms... The possibilities are LIMITLESS. So if you don't own any 5G stocks, you could miss out BIG TIME. Click here for details on the No. 1 5G stock for 2021. You are receiving this email because you subscribed to Wealthy Retirement. Wealthy Retirement is published by The Oxford Club. Questions? Check out our FAQs. Trying to reach us? Contact us here. Please do not reply to this email as it goes to an unmonitored inbox. 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