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I would love to say that I am perfect. I am not. Like you, I make mistakes from time to time. If you are looking for a 100% guarantee on stock picks, you are begging to be lied to. If someone is selling you a bill of goods that their method is fail-safe, run screaming. If I make a recommendation that didn’t work, I’ll be the first to admit it. But the road is paved both ways. If I make a stock pick that soars, I’ll mention that too. I cannot predict the future, but I can report on the past and use techniques that have been proven over time.
Every month on this blog I’ll show you my recommendations for the previous month and how they performed. I’ll put it out there. The good, the bad, and the ugly. My overall philosophy is simple, have a clearly defined, attainable goal; don’t get caught up in fear or greed; minimize your losses and maximize your wins with stop losses; repeat. Losses will happen but if there are more wins than losses and the overall goal is achieved, then short-term losses are a cost of doing business.
How do I minimize losses? By simply using stop loss orders and watching the MACD curve. After you buy at the opening, immediately put in a stop loss order with a strike price 3% less than the open. I can’t stress enough to protect yourself. Secondly, If the MACD reversed you want to get out immediately and don’t wait for the 3% loss to be triggered. Your loss may only be 1% but you always want to be on the upside of the curve and not on the downside hoping for a turn. In my next blog I’ll talk about how I maximize gains. Spoiler alert, I made a recommendation that earned 24% and another 10.4%. Til next week,
Cheers
Al
Source: https://twopercentgoal.com/perfection-is-impossible/
DISCLAIMER
Opinions and data provided are subject to change without prior notice. These opinions might not be suitable for every investor. It’s important to conduct your own research and consult with a registered broker or investment advisor. Information on various stocks, options, futures, bonds, derivatives, commodities, currencies, and other financial instruments (collectively, “Securities”) is shared here to potentially interest the audience. This content is meant for informational purposes only and does not constitute investment advice or recommendations. The buying or selling of any securities is not solicited. Additionally, none of these activities should be interpreted as providing financial advice. The information presented should not be taken as a suggestion to buy, hold, or sell any specific securities. Investing in securities comes with risks and market volatility. Past performance is not indicative of future results. It is strongly encouraged to conduct your own due diligence.
![Al O'Grady](https://ibc374.p3cdn1.secureserver.net/wp-content/uploads/2024/07/als-head-shot-1.jpg)
Al O'Grady
RBL Financial Writer
Al brings a wealth of expertise in smart investing and financial strategies, and we are confident that his insights will be invaluable to our community. With his deep understanding of the stock market, wealth management, and investment strategies, Al will provide our readers with valuable information and trading tips to help them navigate the financial landscape. Stay tuned for his upcoming articles and join us in welcoming Al to the team!
www.twopercentgoal.com