After days like this, you can feel dazed and confused. What caused it doesn’t matter. Trying to outsmart the market will also never work because the market can always outlast you. Being too proud to make a move in or out is also a big issue we all have to deal with. So what’s the answer.
First and foremost you have to accept that if you invest in the stock market eventually you are going to take a loss. Next, you have to admit you are sometimes wrong and make a move. The primary objective is to not get emotional and try to logically determine what move you are going to make, why you make those moves, and stick to them.
Remember this one quote: “Live to fight another day.”
We had an event happen recently that began 2/24/20. We all should remember that well. It lasted for an entire month and then it was over. We took a hit here then, but we dug out of it and most of us had some incredible gains that began May 1, 2020. So, how does today’s chart compare to 2/24/20?
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