Perspective is Key!
I am sharing this to hopefully encourage and give perspective to the market. This has been my journey over the last 5 years, effectively proving TIME IN THE MARKET > TIMING THE MARKET.
My journey has gone something like this: figuring it out 🤨 (probably 6 years of it), mind blowing experience during the last bull run, the antithesis of our current experience 🤯, chillin fat dumb and happy 🤤, crashin 🤬, and now determined 😠 to get back on top.
Do I know everything? Not even close.
Am I trying? As hard as I can.
Am I keeping the faith? You bet.
Biggest lessons I’ve learned so far are:
- Trading is hard. My big leg up phase was really me riding the market and consistently adding to my portfolio.
- Greed can blind you - the chart doesn’t lie, I’ve been basically cut in half over the last 12 months. Been tough to be growth heavy! Hind sight 20/20 I wish I trimmed some of my huge winners. $ROKU being my biggest lesson. I still have never sold a share, EVER. However, last year I was up 1000% and when a stock dives by about 90% well I gave that up (hopefully just temporarily).
- Buying is just better than selling - don’t sell into weakness unless it’s for tax loss harvesting. If you work like I do, add a little from each paycheck. (Need to practice what I preach, just got a new job so I need to setup that direct deposit!)
- Take advantage of what you can! These accounts I manage but I still have a 401K and a whole life policy (creates cash value) outside of this!
- Do your homework! Learn learn learn.
In conclusion. This year has taught me some hard lessons. It has likely taught you some too. The good times will come back but, it might take a long time and the market doesn’t give a shit about your schedule. So, stay the course and let’s come back from this terrible macro together! It just may take some time, but, time can be your best friend.
Practicing what I preach! Just took the 3 minutes to setup a new direct deposit from each paycheck. Think about that.. 3 minutes of time and now I am back to adding to my cash position every 2 weeks.
I just set up direct deposits every paycheck and I love it. Think it helps me stay consistent with buying, since the cash builds up and I feel the need to invest it!