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WOW? What a great video Coach Jason…

I will be incorporating my IWL level in my trading plan.

I wish I had had this video two years ago?

Edited April 18, 20233 yr by Mariah Enriquez

This was really good! Take profit and cut losses?

I’ve definitely watched not only profits, but initial investments turn into pennies 

Learned this lesson too late. Hired a "professional" who totally blew up my account.

@Warner Taylor better late than never.  That's what made me take things into my own hands.

These are great insights. I have never heard of a I'm wrong level, but this makes sense. Having a system to reduce losses either when buying or selling does make the trading process more efficient.

Absolutely, developing these strategies and mindset are key habits @Keshia Burke

Unfortunately, I learned this lesson the hard way. It definitely takes discipline and patience take the profit or set the IWL.

I can see how the stock market can be gambling and addictive. Setting the "I am wrong level" and "im not going to be greedy" and sticking to it will take mental discipline.

Great info! That's a mindset for me. Take the profit.

Sound advice!

My take away is don't  be greedy. Get out take a profit.

Also can I apply this type of approach with a 403b retirement plan?

So putting the I'm wrong level allows the stock to be erratic as long as it's in a safe zone, while still allowing it to bounce back up to the place where you take profit?  This is because we can't assume that the stock price will move in a perfect sine wave?

So putting the I'm wrong level allows the stock to be erratic as long as it's in a safe zone, while still allowing it to bounce back up to the place where you take profit?  This is because we can't assume that the stock price will move in a perfect sine wave? Can you use a trailing stop loss?

Great teaching coach Brown, I've learned in this video that you have to cut your losses, and don't negotiate with the market. Also, I learned about the I'm wrong level, and how once price goes below support into the I'm wrong level, just get out and cut your losses before you blow your account. 

Discipline at the top & bottom. A plan for the win & loss