Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
July 31st, 2020 at 2:39 pm
SK2020 – I have been in your position. Here are the few things I did to get a better handle on things
Start with small position – 1/3 of my intended level so this gives you an opportunity to keep rolling. Phil suggest that one should be prepared to roll 4 times or so.
Lot of times I wait for Phil to make a suggestion to roll out/down or DD on an initial position. Starting at that time helps me. Also the downside is that some of his trades I missed which went on to make huge gains.
This was/is a mental exercise for me. I am still learning to get that discipline and not panick into or out of a position.
When I joined this group I tried to follow all of Phils portfoliios. I learned it is hard to manage all the positions. So I have narrowed down to one or two portfolios
Good luck
Thanks.