Everyone is always soooo excited when the
market is going up...
But what happens when it starts to become volatile and goes down?
In this episode, I break down the most common 2 mistakes traders make when the market isn't going up.
And you will want to pay attention to this one to ensure you aren't making either one.
Let's get into it:
Audio Version:
One of the biggest mistakes traders make when the market starts going down is:
They stop looking at the market.
They take their eye off the ball and sit on the bench.
This is a mistake because when the market drops, you are saying you don't care about the market when it moves up.
In other words, it means you only know how to make money when the market moves up...
So when it goes down our sideways, most people don't know how to make money, they stop caring, and stop watching the market.
People who do this aren't honoring the craft, which is understanding how to read charts.
Essentially they are gambling, just guessing certain stocks will go up.
Here's what you should be doing:
PAY ATTENTION.
Don't be like most people.
Here's what you should be doing:
1. Start watching and start asking questions, like:
"Why are things selling off? How can I make money when certain stocks fall? Is this a good company but just bad timing, or is it a bad investment in general?"
Once you start getting those answers, you become a better trader.
2. You should also be charting to determine where stocks were, where you think they can fall, what a good "sale" is, and how much they can turn around.
3. Setting alerts.
Start watching stocks and get alerted when they are on a good sale to own the stock.
Then you will already have done the work and when alerts start going off, all you need to do is enter the trade or investment.
But you can't do that if you aren't watching the market even when it's down.
4. Be raising capital, because great companies are on sale and they might get a little cheaper. Be in saving mode not spending mode.
So you can have done the research and have the money ready when the time comes.
Mistake #2
The second worst mistake people make as traders is:
They do not know how to play the downside.
If you do not know how to make money when the stock falls, you are panicking just watching your whole account bleed out.
And because of this, this makes Mistake #1 happen - You ignore your account because who wants to watch it continue to fall?
You don't know how to use put options or spreads to buy some insurance.
People who do know how to make money on the downside are so excited right now.
The members inside of Power Trades University learn about put options, so we have many members actually making money in this volatile market that is falling.
This is the time to go to work.
You have to have put options in your arsenal.
You need to know this:
If it's not going up or sideways, it is going down
One strategy is just to wait for it to go up again. And yes that may happen, but its not going to make you feel good having your account so down right now.
THIS is why you need the education.
You need to gain strategies to know how to
actually
make
money
from
the stock
doing
THIS!
We have a few resources to help you:
1. For a limited time, we are offering our Beginners Basics course for free.
www.PowerTradesUniversity.com/Join
2. We have our premium courses to help you learn how to make money from the stock and market falling.
www.PowerTradesUniversity.com/OptionsExplained
3. We have Group Coaching to help you every week find potential trades, regardless if the market is going up, down, or sideways.
www.PowerTradesUniversity.com