This should be an interesting post let’s start with politics and religion… What? Yeah…
You see, I’ve been thinking about what to write this week because I want these weekly posts to provide you value. Here we go... Thanks to META AI for helping me with this visualization:
Since Sunday's posts are themed inside Mr Money Maxwell’s Mind let me take you on a quick tour of my thoughts on the GKT community, my ideas about the stock market and then I’ll do a quick dive in the week that was and what I’m doing coming up.
I’ve belonged to sooo many trading groups where I’ve made money, but the topics and the opinions on non-trading issues like politics and religion. And the money is great, but the offtopic BS bugged me, offended me, and/or sometimes alienated me.
I believe it’s fine to have whatever beliefs you want and for them to all be different. But there is one thing I’m not okay with. That’s if you don’t want to make money in the stock market!
Do you want to make some money in the stock market? Would you like to make it simple and passive? Do you know that money is the tool you need to make all your dreams come true?
If so… You’re in the right place regardless of your color, gender or beliefs about anything else!
The thing I love most about good kids trading is that we can focus on the one thing that unites us, that’s our desire to use the stock market to fuel our desire to have a better life, to make money to do the things we love, and support ourselves and our family. Regardless of who you voted for, or how you feel about specific personal issues, GKT was solidly focused on the impact to the stock market, without name calling or grandstanding about the ‘right’ way to think.
I hope you enjoy and appreciate this as much as I do. It seems to be a unique model to stick to trading, and not charge crazy monthly fees to look at someone’s trades in real time who is not only successful, but who’s main source of income is in the trades I’m posting in our discord!
Next lets talk about a huge challenge holding so many people back… It’s fear and information overload!
If you are looking for a magical way to grow your small account to hundreds of thousands of dollars quickly all I can say is good luck, and you aren’t in the right place. This is the combination that stock market gurus love because they will get rich selling you strategies that may or may not work for the short term, but always lose in the long term because the BIGGEST enemy to all traders and investors is when you get too big and a couple losses in a row decimate your account. Not many people ever recover from this financially or mentally.
Let me be clear though, what I post in GKT, (on this blog and in our discord) constantly talks about trading small, trading often, and trading mechanically. I’ve never said don’t take any risks, sit in all cash, or put all your money on a single trade for really good reasons… I know better. And I would argue you know better as well, you just want to believe that somehow someway you are going to win the lottery. Everyone who buys that lottery ticket (which I do sometimes, I don’t even care if you judge me) think we’re going to win!
I think it’s important to stress that having some risk on is really important. It’s important to know the difference between investing and trading. It’s weeks like last week where you really see longer term gains in short amounts of time.
If you have your account in all cash because you are afraid you are missing out on the longer term it’s time you figure out what you are afraid of and you need to realize that cash in the new environment where prices and expenses are outpacing savings rates and your paycheck it’s time you do something about it!
What does that mean? That means you start listening to some of the things I’m saying and posting and you TAKE ACTION on what makes sense to you.
I had a great week in my long term investments, my trading account, and even a small brokerage account I started with $5,000 I was up almost 250 on Friday alone in that small account… I’m not bragging, I’m begging you to push the fear and limiting beliefs aside!
It’s cool to move to cash in your trading account from time to time. As I’ve been saying my trading account is currently under utilized with about 20% of my buying power being used.
I’ve been stressing having some smaller trades on even though we had a lot of uncertainty and I know it’s paid off for me. No I didn’t have as much delta as I would have liked if I knew the SP500 was going to be up 4.5% this week. But what if the market dropped 5% instead in the short term?
I’ve spent the last 2 weeks coaching about 10 different people with account sizes of all different sizes and my messages aren’t really that different. We’re all so alike when it comes to “what should I do” “what if I lose” and “I don’t know where to start.”
I’m not marginalizing any of this. Its not easy when you are starting out, but you know the only way you get better? Let me spell it out for you.
1. You build a simple plan
2. You start small (even if that’s paper trading).
3. You see what happens after you take that first loss
4. You adjust your plan from the lessons you learned
5. You keep going
As I said I know this post is a little different than some of my Sunday posts but I just wanted to share what’s on my mind, tell you how grateful I am that you are part of this community and tell you that I’m not looking to sell you expensive coaching or charge you stupid amounts of money for strategies that work. If you want some more indepth information you should definitely join Mr Money Maxwell’s inner circle. It’s currently less than ½ a cup of starbucks coffee. (I’m honestly guessing because I don’t drink starbucks). But my inner circle is right over $2 a week. My 1:1 coaching is practically a steal 😊
And the content I post in discord is better than ANY trading group I’ve ever belonged to and it’s FREE…
I’m stepping off my soap box now… I’m going to give you a quick overview of the market, if you want more information join the inner circle, or ask questions in the free discord.
Have a great week! I’m headed to Florida on Wednesday, I’m working in a pet grooming shop on Thursday (long story), and I’m getting on a cruise ship on Friday to celebrate an amazing human beings birthday next weekend after she just survived breast cancer and she’s cancer free now!
I have no idea what this post will look like next week. It could be more thoughts from inside my mind. If you like this post let me know, if you prefer the older style posts let me know that as well. Email me, DM me in discord.
I’m here to serve you. I want you to have the freedom I have, and I genuinely care about you.
With love and gratitude,
-$Maxwell
Market recap:
This weeks performance in the market was impressive. All the major indexes and sectors ended bullish.
It was a huge week in the market for the bulls. Gold was pretty much the only laggard. TLT finally responded positively to the decision to cut rated by 25 basis points.
The reason I keep talking about discord is because I'm telling you exactly what I'm doing. You can make money with us!
I told everyone 3 times this week to pickup some TLT. even if it's 1 share...
Inner Circle should have made good money on bitcoin.
TLT short puts closing overnight!
With the election over, Jay powell’s speech done, I think we’re in a place where we can add some risk and buy some dips. Luckily for the options sellers we have a couple more weeks of earnings, sure the biggest weeks of companies reporting are behind us, but one of the best ways to buy the dip is to find companies that had decent earnings but the market is upset based on some guidance or words that the market might interept incorrectly.
Look for patterns you like on the charts, checkout my 7 favorite patterns post:
Look for high probability math based trades and put on a little risk. If you can't find them look at my trades and my admins trades in discord! Heck buy a few shares of companies you like. You don’t have to make this too complicated. That’s where people get confused, and that’s what holds most people back!
Comments