Euphoria: MEME Stock Mania!!

(Listen + Learn = Success!)

---

---

Thanks for taking the time to read today's blog post where we talk about how to use this blog to listen, learn and achieve success and how some already are!

Please be sure to read the disclaimer on our site before moving forward, comment below with questions and follow us on social media (FaceBook, Instagram, and twitter)!

---

When I set to build Essex Trading Apparel I wanted to help people look great and achieve success in the markets. When I see people listening and learning from my advice it makes me ecstatic that people are willing to listen to change their behaviors and habits in the market to achieve success. Earlier this year I crated an article on #GameStop detailing the chart and how we wanted to approach the chart.

The conversation arose mainly because of the mania around "meme stocks" and "sticking it to the hedge funds" and what struck me the most is the cord this struck with the middle class and my own family. Usually I ma happy to speak about what my family does, however the debated can get pretty heated when I mention stocks - sometimes it even goes so far as people yelling and leaving chat conversations. What's great is this means my family is passionate about what's going on, ultimately the final arbiter of truth in the markets are memes, just kidding! It's price.

Price doesn't lie to us! It doesn't care about what Citadel, Melvin Capital, the Federal Reserve or Johnny down the block is doing. Price will always tell us the supply and demand for any security, asset, commodity, etc. So when my brother in the last GameStop article told me he owned $AMC on April 12th my only advice was to be careful. His entry was at $9.4.

It's fascinating and dauting when other people start trading and investing. What's awesome is they have taken the first step to achieve financial success and wealth in their lives!! What's difficult is that you know the expectations of investing and trading is daunting! I take losses - albeit small, frequently and while you train yourself not to care when you do, they still do. They are like little small paper cuts, you know it's prat of the game though, all you can do is practice good risk management when your trade triggers and sometime you get stopped out.

SO, what happened this time around, did my brother learn what I was trying to help with him?! He did! I followed up May 13th, I told him his stock was doing nice and replied with some emojis for him holding. Great, so he was learning that biggest gains come from swing trading and holding over longer periods of time. A great lesson of trading.

What happened next blew my mind!! This Thursday I had reached out to him as the MEME mania was again getting out of hand again and $AMC, $BB and $GME were everywhere to be found on twitter (when euphoria strikes the memes hit hard), and low and be hold he took profits at $68!! To my amazement he had listened, learned and succeed by being disciplined.

If you find yourself in a situation where your portfolio is RED - on Coinbase, Robinhood, etc. remember there is hope and you don't need to YOLO money on some call options to make real money to grow your wealth. Discipline, patience, and controlling your emotions will get you farther than you ever imagined. My brother is a testament to those facts and I know you can be too!

His next question caught me a little off guard - I should have expected it though: "So, where can I put my money next?" Unless your a day trader trading options or short term positions you take your gains off the table and wait for the next setup. This sometimes means waiting a day, or a week. Patience is key especially when we had a huge run in "meme stocks" - $AMC, $GME, $BB, $TLRY, $SNDL, etc. It's NOT the time to speed up and get aggressive, it's the time to slow down and appreciate what went right!

The Fibonacci Sequence in the Red Frangipani Flower

When you literally stop and smell the flowers you can see the fibonacci sequence in nature; here we have the Yellow Frangipani Flower whose petals represent 5, a number of the fibonacci sequence. Cheers to the good trades you made this week, and don't forget out stop and smell the flowers once in awhile!

Trade Confidently,

Miguel Ferreira (@wizdaytrader)

---

Essex's Trading Quote of the Day (QotD)

“It's not the earnings that matter. it's the reaction to them!"

Wall Street Adage

---