Wealth-Coaching

There are plenty of reasons to employ a stock market strategy.  We think there are really some great stock market systems out there.

However, sometimes patience can be a great way to make some real money in the stock market.

In the late 90s I bought some Xerox stock.  It wasn’t a great deal of stock, but it quickly lost most of it’s worth.  I bought it for around $7 a share, thinking that was a steal (I know…  I was young.) but within months the stock had plumeted to $4 a share. 

If I had been using a system, following the system would have meant I would have lost that money with no chance at recovery.  And, had it been a lot of money, I certainly WOULD have sold and invested the left overs in another stock.  I would have folded, taken my losses, and started over.  And, that would not have been a bad strategy at all.  I would have made the money back fairly quickly and I would have learned a valuable lesson (don’t buy without researching…).

However, because it WAS such a small amount of money, I just wept and forgot about it.  So, imagine my surprise to find out the stock is now worth $14 per share.  Now, that’s double what I initially bought it for and it’s 7 times what I would have sold it at a few years back.

Patience paid off. 

Remember, the stock market, as a whole will always go up.  Counting on one stock, or even a handful of stocks, to bring you stock market success will lead you to financial ruin.  But, by being able to ‘forget’ a few losers, you just may end up with a stock market success story like this one.