By: Steve Smith
I got a lot of emails about the article I wrote yesterday discussing how to trade meme stocks.
People seemed to be upset that I was “endorsing” that kind of trading. I thought it was very clear that I am not interested in that kind of trading and I don’t think it’s a good idea.
Still, I know some of my readers are going to make those trades so I discussed how they might be able to increase their chances of success. Or at least reduce their chances of failure.
Honestly, I don’t understand why people make those kinds of highly speculative trades when you can rack up 45% overnight winners like we did in AirBnB this week.
While keeping a solid Risk/Reward profile.
I guess if you like the action, that’s fine. And it’s easier (and cheaper) than a trip to Vegas…
You just don’t get the free drinks or the casino girls.
I want to add one more thing to the advice I gave yesterday.
I mentioned position sizing. I should have also pointed out that these kinds of trades should be made from a separate, speculation-only account.
In other words, have your “building wealth” account that you follow strategies like we do in Options360, and a “speculation/gambling” account where you swing for the fences.
And always remember my number one rule – NO NAKES POSITIONS!
That way you won’t ever get wiped out if a speculative trade goes against you.
Remember, I lost $50,000 on my first personal trade on a “sure thing” because it was a naked position. Learn from my mistake.
I hope that clears up any confusion.
To Your Success,
PS. I extended the $9 trial membership to Options360 through the weekend because demand was so high, but this is it!
Get on board and we can help you build wealth with properly mitigated risk. That’s what Options360 is all about. You still have a few days to grab your trial membership.