Okay before we get too far here, I want to confess:
In this article, I’m not going to give you some ticker symbol of a company that I hate.
There are plenty of companies that I don’t like, and I talk about them all the time.
But often, the companies I don’t like are the ones I’m happiest to trade: by betting against them!
No, I want to talk to you instead about mindset a little bit.
Because here is the one stock you should NEVER trade: the one you are uncomfortable with.
That may seem fundamental and obvious.
Like, “yeah, Rob. Clearly I don’t want to trade a stock I’m not comfortable with. Duh.”
But think about it…
Do you always follow that rule?
Do you always, always, always avoid all the trades you feel a little uneasy about?
Or are you like me?
If I was at good at talking other people into doing things as I am at talking myself into making trades I shouldn’t, I’d be able to sell people that bridge in Brooklyn I own all the time.
My point is: we all take trades we’re uneasy about from time to time.
A lot of times, we’ll convince ourselves that a trade is fully ready when it’s only partially ready.
If you have a system, you need to trust that system!
And that doesn’t mean trusting 80% of the system or trusting the system kinda. If a trade doesn’t meet all of the system’s criteria, then it’s not a trade.
Other times, we’ll convince ourselves to buy in on a hot trend that we don’t personally believe in.
This is a really bad mistake.
If everyone is telling you to believe in crypto but you don’t feel it, then ignore crypto!
Why would you mess around with a trade that you aren’t comfortable with?
My point is this:
You can trade anything. Literally just about anything.
Heck, the world of tradeable assets is expanding. People are treating baseball cards and sneakers and all sorts of things like emerging brand new stock markets.
You wouldn’t trade any of those without knowing what you’re doing, right?
So why are you making reckless trades in the stock market.
Nothing is off limits.
If you want to trade crypto, trade crypto. If you want to trade stocks, trade stocks. If you want to focus on ETFs or commodities or forex, then do it!
Just don’t do it if you’re uncomfortable.
Because you need to trade confidently and you need to sleep at night!
Hope this article helps you trade with a little more certainty! Have a great day.