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What to do when the market is selling off

The SPY (S&P 500 ETF) is down around 4% in the last week. Mostly due to the newest COVID variant dubbed "Omicron." Keeping politics out of this as much as possible I want to say, the market is down based on the fears of government response to the new variant. 

The economy is already having a tough time due to supply shortages. Of course it's easy to fear that any more supply/production constraints will push us over the edge. 

Whether or not that happens, it's important to keep the market downturns in perspective. Throughout history, periods of fear and panic selling have been the absolute best times to buy in. 

This is true for mid-to-long-term investing, but of course if you are short term investing you need to have a solid stop-loss point and the ability to find strong support/resistance levels. 

Take the first COVID Crash as an example:

In one month, the SPY dropped 35%. If you were holding during that period it was no doubt scary, but 5 months later it...

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My Biggest Fear As a Trader: Being Wrong

fear May 26, 2020
You’ve heard me say before.. Fear is the enemy of success.
 
When it comes to trading, that couldn’t be any more true..
 
I went through a bit of a transition a couple years ago. I had to take a deep look inside and ask myself some pretty hard questions.
 
When it came to Trading, I wanted to figure out why I’m so likely to hesitate on trade entries, to move my stop-loss, or to take my profits too early.
 
Of course, the answer is simple: fear.
 
But.. fear of what?
 
To be 100% honest, I’ve never been afraid of losing money. I’ve always had the mindset that whatever amount of money I lost, could always be replaced.
 
So what was I afraid of? Being wrong.
 
I realized that I wasn’t trading to make money, I was trading to be right. I was out to prove something, and anytime I lost a trade it was proof that I was “wrong.”
 
No one wants to be wrong. But some people hate being wrong more...
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