So it's really important to be able to contextualize the market in ways that help you make money and, more importantly, avoid needless losses.
There are many ways to leave a lover...there was a song with words something like that.
And there are many ways to skin a cat.
And there are many ways to win or lose in stock markets.
Some are day traders, some are swing traders, some are long term traders, and some are buy and hold for ever type.
All types of traders can get rich or poor. All depends on individual luck and skill combined.
Personally what bothers me the most is watching my portfolio lose more than 5% of its value. That makes me lose sleep at nights.
So I changed my trading method since reaching social security age of 62, compared to my younger years.
During the last 20 years, I never had to file a loss in my tax returns. And I spent less than 30 minutes per week watching stock markets.
This helped me get rid of all my health issues by having time to play 5 rounds of 18 every week from age 62-77.
From 78 to 83 age all I am doing is treadmill and walks on the many miles of beaches here in Florida.
As my tag line says, I really do not need more profits. Just remaining solvent until age 100 is my only goal now. Only 17 more years to go
It looks like my heirs are going to inherit a lot.
Edited by pdx5, 13 April 2023 - 04:20 PM.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule