Watch the Full Trader’s Mindchat Show interview with Jim Roppel here!
Mike and I had the honor of having the incredible Jim Roppel back on our Trader’s Mindchat Show this past week. Jim is a very successful hedge fund manager who built his career mastering the art of buying and holding monster stocks. Jim has been featured in books “How Legendary Traders Made Millions” and “Monster Stocks” by John Boik as well as “How to Make Money in Stocks, Success Stories” by Amy Smith. Jim also has launched a webinar coaching service called www.GrowthStockMentor.com
It was so great chatting with Jim and here are ten nuggets of pure gold we pulled out of that interview to help you Ramp up your Trading Success
Top Ten Highlights from Trading Legend Jim Roppel:
- One Day Shouldn’t Break you: This is just one play in a football game. We’re in it for the long haul.
- Preparation is Key: How do you handle a wild day? Be prepared!
- Know Your History: Don’t let the market 21 day moving average trick you into complacency. Know your history.
- You need Tranquility in Chaos. Find detachment from the money.
- Don’t Give Up: Put it into perspective. It’s one day. Don’t throw in the towel yet. Stay with it.
- Create Your Battle Plan: Plan the night before, or even Prep Sunday night.
- Don’t Live on a Razer’s Edge. Having a cushion is the most underrated Trading tool. I can sit, I can think. I don’t live on a razer’s edge.
- Extract yourself from the chaos. Re-implement your strategy.
- Watch the tape for gaps. Shift gears massively. Be able to adapt quickly to the fluidity of the situation.
- No Stock is Perfect, just like Mother Theresa and Gandhi had off days. Doesn’t mean they are a bad person. Patience keeps you in a stock that’s going to triple. If you can’t sit through Mother Theresa’s bad outburst, you are not going to be in a stock for the 200% gainer.
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No matter how you get started, the most important thing I’ve learned is to start! If you are interested in the market, this is the best time to learn and get your feet wet. MARA Wealth is here to help guide you, so you don’t get kicked around as much as we did. Click here to get your free 10-Step course download of The Trader’s Thoughtbox today!
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Melissa Lamothe is a bestselling author and co-host of “The Trader’s Mindchat Show” with husband Michael Lamothe. Melissa has 15+ years of marketing and writing experience and is the marketing director/content supervisor for Mara Wealth.