Trading 101: if you’re going to be wrong, be wrong fast

Last Monday was World Mental Health Day.

Every year, the goal of this day is to promote awareness and help people better understand what mental health means.

I wanted to apply this concept to the podcast this week.

Too many people are scared to start investing because they might lose money. Or, worse, they are too scared to go back to investing because they have lost money already.

The problem is that staying away from investing doesn’t help you grow your wealth.

Knowing many investors are put off by losing money in the market, I wanted to tackle how to understand your own mindset when it comes to both investing and trading, because the two are very different things.

So, today, I share my own story of making a bucketload of money trading Brexit in 2016… only to lose it later the same year when I traded the US election.  

How? Simply put, I didn’t have a good understanding of my own psychology when the market moved against me.

In fact, in this podcast, I tell you not only where I went wrong but the three key things I have learned since then that have made me a much better short-term investor.

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Also, if you have a question to ask or something to say, drop Sam Volkering and I a message here. We’d love to hear from you.

Until next time,

Shae Russell
Co-editor, Exponential Investor