So.... did anyone here have fun with the GameStop drama?

This is one of those things that make you go... Hmmmmm......

I wonder what Gary had to say about it. Personally I think he enjoyed it really because it seemed to have such a negative effect on Market Makers and especially Hedge Fund managers giving them a taste of their own medicine. I'm still listening to reports and piecing together exactly what happened. I even saw a video clip of a Billionaire fund manager crying on TV and saying he's still not able to talk about it. WTH!!!!....

R

Gary said it was a big nothing.

Yea, he basically dislikes both sides of the mess and suggests of course to pay no mind to any of "that kinda stuff"

Yes for sure. I wouldn't touch it with a ten foot pole. It was entertaining to watch it unfold though.

Very true. I actually was holding some long GME calls and sold early January at a small loss. Damnit.

I have to say, after taking 1-5 SO many moons ago and then survivor just this weekend, I'm excited/mildly overwhelmed to get back into GW's system. I've certainly strayed and need to break some habits.

I was doing really great and making some nice real money trades for a long while. I had a few trades that were 10k profit trades. I thought I was finally on my way to slowly achieving choice. Then I had a couple trades that were nice winners only to watch them turn into losers before I could exit. After that I got a little timid, and stopped trading for a long while. I stopped trading and focused on my career for a while. Really wish I had not done that. Now I'm trying to inch my way back into it. Mostly I've been on the sidelines watching the markets just not participating.

When you confidence gets shaken it REALLY gets shaken a lot.



Edited 1 time(s). Last edit at 02/02/2021 10:32AM by RichieRick.

That is SO true re: confidence and it getting shaken out of you. It's inspiring coming out of a wknd with Gary (of course) and I hope to, after closing some stupid trades I'm currently in, get back to a proper discipline starting from (nearly) scratch.

Gary's words are so true when he talks about how much Discipline matters.

So as a word of caution for you since you're getting back into Gary's course. Temper your expectations.... a lot. Gary often has a lot of fun focusing on trades that were amazing and big profits. Those do happen from time to time, but most trades "Barely" work. Even Gary will say that, but sometimes he gets so excited that the message that comes across is that many trades are supposed to be big and awesome. He doesn't intend to convey that message, but lots of times he does. Especially when he makes a comment like, "it shouldn't take a day to make a million dollars".

Just go into EVERY trade with the assumption that it's going to "BARELY" work. If the trade explodes into something awesome for you just except it for what it is and move on. Those awesome trades do not happen every week, or something even in a month or two or more. The trades that you expect to barely work and then explode into amazing can cause you to think of how awesome you are, and will suck you into thinking you had something to do with the trade becoming so much better than you expected. You didn't, you were just in the right place at the right time. That was going to happen that way whether you were a part of it or not.

It's very easy for me to sit here and type out how I should handle and approach it. It's another matter for me to live out my own words. Hehehe.....

My apologies for wandering off into an entirely different topic. lol.

I appreciate the sentiment, and yea it rings true coming out of the weekend, but I've taken with him starting in 2007 and had many ups and downs - expectations are certainly tempered. I am looking to put in a lot of work this go around and won't stop until I feel incredibly comfortable with both wins and losses, but at least doing it right and keeping it more simple than I have been. I've in the past couple years been trading WAY too many trades and very loosely on the old technique that I learned through him. I don't want to stray off the path this time, as I see where it's put me.

Best of luck and let's all make a little $.

RichieRick thank you for letting us know about confidence. Things would turn on me and I would fight to figure out what happened. After a few tears I would break down each move to see where I missed it. You really helped with that (along with big money) telling me to turn off my candles. Wow, I was a candle watcher. When I turned them off, I was able to see more of my indicators and was able to see entries and exits. You are spot on with discipline, which is what it takes to figure out indicators. There are several people in this forum that have helped me and you are one of them. So thank you for your willingness to open up and help people.

It worked perfectly for how I trade. I don't hang around. I am in and out and yes I leave $'s on the table but I accumulate $'s rather than tie my money up. I sort of look at it like this for me....in a grocery store I like going through the self check-out because it is faster. It doesn't bother me to bag my own because I get to decide what goes in each bag quicker. I don't want to hang around in a check out line for the same groceries I will have if I do it myself. Just "Get me out of there!"