The Speculation Reality Check Here's what everyone conveniently forgets during euphoric runs: most mining partnerships never happen. Companies talk. Management teams posture. Rumors fly. Press releases hint at "potential opportunities." Then deals fall apart over valuation, regulatory issues, or simple corporate politics. I still believe in this thesis. The fundamentals that attracted us initially haven't changed. But you can be right about the long-term story and still lose money if you mismanage the short-term volatility. YOUR ACTION PLAN If you're sitting on massive gains in any speculation play - not just this one - here's your homework: Calculate your original risk. What did you initially invest? Take at least that amount off the table. Set profit-taking levels before emotions kick in. Decide right now: at what percentage gain do you take another chunk? Don't wait until you're watching real-time quotes and feeling invincible. Remember why you bought speculation. You bought this for asymmetric upside with limited downside. You didn't buy it to become emotionally attached to maximum theoretical outcomes. Separate ego from strategy. Your ego wants to be right about the maximum possible outcome. Your strategy wants to capture substantial profits regardless of maximum theoretical outcomes. The hardest part about winning big is learning when to stop winning. Six hundred percent feels amazing until it becomes three hundred percent, then one hundred percent, then break-even because you got greedy. Take the money. Keep some skin in the game. Let your profits compound from a position of strength, not from emotional attachment to being maximally right. The market will give you plenty of other opportunities to feed your ego. This time, feed your bank account first. If you want my latest trade idea, click here to find out more. |
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