Bold or reckless…
Do you know the difference between the two? If not, it’s important to learn, as knowing the distinction could mean the difference between walking away with a healthy profit or a devastating loss.
On Wall Street, there are thousands upon thousands of stories proclaiming the importance of being bold – that by taking a chance every now and again – you could find yourself living on easy street.
However…
There are just as many stories about how taking a chance has come back to burn somebody hard – sometimes even taking everything from them.
The problem?
Being bold and being reckless both involve taking chances…
Neither of these adjectives have outcomes that are set in stone – and worse – you could find yourself on the winning end OR losing end of each.
So is there REALLY a difference between the two?
Yes, there is – and it comes down NOT to the opportunity itself, but how you prepare to take the chance.
For example…
You’re at the water cooler one afternoon and Fred from accounting tells you that he just got off the phone and proceeds to tell you a story about this certain stock his cousin’s friend had just bought and sold, making $50K on a $2K investment in just 4 days. Fred informs you that he’s going to call his broker as soon as he’s done getting a drink, because his cousin’s friend says, “you can’t lose if you buy NOW!”
Immediately, your mind starts racing…
“Wow – that’s 2,400% in just 4 days! If I could do the same with $5K – I’d be looking at $125,000!!”
Then, on the walk back from the water cooler to your office – you begin SPENDING that money. You start thinking about how you could pay off your car – or finally take that European vacation you’ve always talked about.
By the time you sit down at your desk you’re already so excited about how you’re going to spend your profits – you forget about the risk.
You don’t do your due diligence – you don’t weigh the negatives. You don’t look into the company’s financials. You don’t even check the stock chart…
You simply login to your online trading account, type in the ticker symbol, click the “buy” button and dream about what you’re going to do with the profits.
THAT is reckless.
Being bold would be taking the same gamble – but taking the time to ensure that you’re giving your money a chance at a solid company instead of throwing it into a hole.
In the investing world – a little research can go a LONG way. Even if you just take 15 minutes to figure out just what you’re getting into – you improve your chances of making money, rather than losing it!
Whenever GorillaTrades recommends a company – you can bet your bottom dollar that I’m doing the kind of due diligence needed to ensure that subscribers are walking away with a nice return.
I’m no hypocrite – you can bet that if I’m telling you to do your due diligence – I’m definitely doing mine.
So if you’d like to have that “double coverage” of research for your stock choices – we’d love to have you back with us at GorillaTrades. We’ll do our very best to make sure you’re making as much money as possible with every recommendation we make.
Either way, there’s one thing to keep in mind…
Whether you’re bold or reckless – please understand that in order to grow you have to act – either way. Nothing will EVER be 100% guaranteed on Wall Street – so if you want to make money, you need to take some risk…
It’s the only way to accomplish things.
“Freedom lies in being bold.” – Robert Frost