4 Trading Lessons from Paradise

[Image] Dear trader, The holidays are over and the New Year is here. For some of us, that means it’s time to take off our vacation clothes. [Image] Our Raging Bull co-founder and CEO himself, Jeff Bishop, recently returned from a fishing trip to the Bahamas and has settled back into his regular routine in snowy New Hampshire. Fortunately for us, he learned a few things while fishing those beautiful blue waters about [how to reel in the BIG WINNERS.]( Turns out trading and fishing have a lot in common and can teach us these invaluable lessons... - Be selective, not exhaustive, with your patterns and setups. On his recent trip, Jeff caught over thirty fish. Not bad for a little casual fishing action. But of that lot, only two of the fish turned out to be [what he considers keepers](. Many were just too small and not worth all the effort. - Have patience with your trades. Jeff spent hours and hours sitting on the boat, basking in the sunlight with his rod up and his line fully cast. There was more waiting than actual fishing. In trading, the money is made not in the buying/selling but the waiting. Sometimes it just takes time before you actually see that [desirable runup or selloff](. Ask any trader, and they’ll tell you that sitting on your hands is one of the hardest things to do. - Ignore all the hype. When a trade seems too good to be true, the chances are it probably is. When Jeff was halfway through one of his excursions, he snagged his hook on something heavy that he thought would be the big kahuna. Turns out, it was a sand shark. Pretty cool, but not a tasty dinner. - Close your losing positions early. When you’re fishing, many hours can go by without so much as a single bite. In those cases, rather than waiting, it’s better to reel in your line, check to see if your bate is still intact, and then recast. Maybe try a new location or just pack up. When trading, sometimes it’s much better to cut your losses and move on to [a brand new position](. [Image] [How to Fulfill Your Dreams in 2020]( By Ben Sturgill of Wealth Wise [Image]( As we move into 2020, people are starting to put their new habits into place so that they move towards their envisioned goals. In the spirit of all this goal-setting, Ben Sturgill recently decided to interview someone who is an expert on getting ideas of the to-do list and accomplishing what he set out to do. That person is David Hauser. He’s a serial entrepreneur who founded multiple companies, including Grasshopper, Chargify, Intercom, Unbounce and Munchery. Listen to Ben and David chat in this insightful Wealthwise podcast and learn how to turn your resolutions into revolutions. [Listen here...]( [Join the WealthWise mailing]( [Selling Deep in the Money Call Spreads]( By Dave Lukas of Options Profit Planner [Image]( Hardly anyone understands the meaning of work-life balance better than Dave Lukas. He trades only ten minutes per day and has practically put his whole strategy on autopilot, yet he since opening his Options Profit Planner premium service he has yet to experience a single losing trade. It’s all thanks to his insistence on implementing strategies that give him a verifiable edge in the markets. In this post, Dave shares how selling options stacks the odds in his favor, so that he can spend way less time worrying about taking a losing trade. [Continue reading...]( [Two Patterns to Trade Small Caps in 2020]( By Jason Bond of Jason Bond Picks [Image]( Q1 is officially upon us, which means we need to approach these markets with a fresh plan of attack. Looking back on 2019, Jason Bond determined that there are really two steps we need to take in order to improve our trading. The first is cutting out everything that isn’t working. The second is focusing on our strengths. In this post, Jason shares two patterns he considers his strengths — rockets and fish hooks — and explains how you can use them to turn a quick profit in any market environment. [Continue reading...]( [Tips for Growing Small Accounts]( By Nathan Bear of Weekly Money Multiplier [Image]( A lot of people operate under the misconception that if you want to make money trading then you need a large account. While this may be true to some extent — the profit margins are certainly higher — you simply cannot have success with a large account until you’ve learned how to successfully grow a small one. Nowadays, with commission fees being so low and practically obsolete, we no longer have any excuses for why we can grow a small account — even one as small as $500. In this post, Nathan Bear shares 7 tips that will help you successfully grow a small account, some of which have helped his subscribers more than double theirs within the very first week. [Continue reading...]( To your success, The RagingBull.com Team RagingBull, LLC 62 Calef Hwy #233 Lee, New Hampshire 03861 United States [Stop receiving exclusive emails from Raging Bull All Access]( Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. 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