Why You Shouldn’t Look for the Next Nvidia

[Trading With Larry Benedict]( Why You Shouldn’t Look for the Next Nvidia By Larry Benedict, editor, Trading With Larry Benedict Ever bought into a stock right before it tanks? Or perhaps you’ve sold out of a stock just before it goes on a massive rally. Like Nvidia, for example, which has almost tripled since the start of the year. Chances are if you’ve been around the markets long enough, you’ve experienced both scenarios. It sure can mess with your head. And leave you totally frustrated. Especially if you play out the trade over and over again in your mind. And while you’re kicking yourself about the previous trade, you’re likely missing out on plenty of other trades. Learning to put a line under a trade (whatever the result) and quickly move on is key to making it as a trader. And it’s something I learned the hard way. So today, I want to share how a shift in my approach to trading led to life-changing gains. And ultimately saw me go onto great success, with Barron’s rating my hedge fund in the top 1% multiple times. It also saw me featured in Jack Schwager’s Hedge Fund Market Wizards. I’m in the chapter right after billionaire Ray Dalio… Recommended Link [5 Tiny Cryptos That Could Soar During 2024 Crypto Bull Run]( [image]( One of the first ever crypto millionaires who bought Bitcoin when it was trading for just $5 in 2011 is back with his next huge prediction. A newly approved government regulation is set to flood trillions of dollars into the crypto markets, leading to the FINAL crypto bull run. One of the “Kings of Crypto” has revealed five tiny cryptos that could soar over the course of 2024. Potentially resulting in gains as big as 10X, 50X, or even 100X over the coming months. [Get His #1 Coin For 2024 FREE By Clicking Here.]( -- It’s Not About Big Wins See, a common mistake new traders often fall into is thinking that trading is about bagging big gains. And that’s the approach I took when I started out trading in the pits of the Chicago Board Options Exchange almost 40 years ago. I’d jump from one trade to the next, making outsized bets that had little (if any) chance of succeeding. No prizes for guessing how things panned out… I tore right through my trading account multiple times over. And then I had to face the arduous task of starting again… and again. What I didn’t appreciate at the time was that those big wins don’t come around often. For every Nvidia, there are countless other stocks that do practically nothing at all. The problem is that if you keep looking for the next Nvidia, you’ll miss other less exciting but still profitable trades. The way I turned things around was to stop looking for big wins. Instead, I did the opposite… I started treating trading as a business where I needed to bank regular gains. Take Regular Profits… Whatever the Size By taking regular profits, no matter how small, I got into the habit of trading profitably. Whether it was just a $200 or $300 profit to start with, they soon accumulated into something much bigger. Before I knew it, I’d banked my first $1,000 winner… and I knew that I was on my way. Along with regularly banking profits, I refused to ride any losers. The moment a trade went against me, I exited as fast as I could. Whether my trade was profitable or a loser, I put a line under it and moved onto the next trade. That way, I wasn’t holding onto any profitable traders longer than I should in the hope of unrealistic gains. Nor did I hold onto losses in the hope that things might turn around. Instead, I got in the business of regularly making money while immediately capping any losses. Do this too, and it might surprise you how quickly things turn around. Free Trading Resources Have you checked out Larry's free trading resources on his website? It contains a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Stick to the Basics Hunting for outsized wins might suit some traders… The problem is that they don’t know how long it is until the next Nvidia comes along. Unless you’ve got a massive account behind you, then it’s too risky to trade that way. Instead, I went into the market each day with the mentality that I was going to bank whatever gains I could. And my account slowly but steadily began to build. The more profits I banked, the more I could allocate to my next trade. That helped snowball my account to something much larger. If you treat trading as a business – and not a casino – you too will likely see your account steadily grow. Remember that there are unlimited opportunities in the markets to make a profit. What’s more, those opportunities are out there every day. Happy trading, Larry Benedict Editor, Trading With Larry Benedict [The Opportunistic Trader]( The Opportunistic Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.opportunistictrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. The Opportunistic Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-208-6550, Mon–Fri, 9am–5pm ET, or email us [here](mailto:feedback@opportunistictrader.com). © 2024 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](