| | | | NEW MONEY CREW
WEEKLY RUNDOWN Hey, traders, Lance Ippolito here. Welcome to this edition of a new weekly feature where we'll share some of our top trading ideas — and our biggest winners — from the New Money Crew!
This week I wanted to kick things off discussing an important trait for being a successful trader. It doesn't get talked about nearly enough, and that's mental toughness.
Trading can be an emotional rollercoaster, even if you're steadily making money. I'll be the first to admit, when I was a spry young trader, I let a few of my losses get to me. We've all been there and it happens to the best of us.
So in a post this week I talked about emotions and trading.
Several months ago I made an option play on Beyond Meat Inc. (Nasdaq: BYND). I bought in and the trade cratered, and I was bummed. But then a few days later it had a big pop, and I sold for a 50% gain. So I was happy. Soon after that, McDonald's announced it was going to stop testing Impossible Burgers, and go with Beyond Meat.
Then the stock skyrockets, and I was left missing out on a HUGE gain… like $3,000 per contract.
Am I mad? No…
Do I accept the trade? Yes…
Was I happy at the time with a 50% winner? Yes!
All of the factors met my risk tolerance, and I'm not going to let those emotions dictate future trades. That's the key. If you let those things get to you, then you're probably trading too large and might want to scale it back.
This will make you a happier, healthier and wealthier trader. For more great insight on this, check out a book by Nobel Prize economist Daniel Kahneman called "Thinking, Fast and Slow."
Now on to some big wins!
Are You Padding Your Account With 'New Money'?
If not, you should be!
Joshua Belanger and his New Money Club members scored a huge overnight win this week.
- +204% on TSM ($85 October 2 CALL)
For more information on signing up to take advantage of big wins like the one above, click here!
You Said It!
In more great news regarding the trade above, one of our newer members, Daniel B., answered a few questions from a survey we sent out this week. The New Money Crew trade alert scored him a big $2,380.05 windfall — in just 24 hours.
Here's what Daniel had to say:
"I will reinvest the money for the moment, but my plan (is) to pay off the mortgage. (New Money Club is a) great opportunity to invest and (a) successful way to realize your ambition, your dream(s). So far after one week in the club, I'm impressed!"
We absolutely love sharing your success stories, so cheers to you, Daniel!
If you have a big score you'd like to share with your fellow New Money Crew readers, email us at wptestimonial@gmail.com!
Ready for Some Blue-Chip Trophy Trades?
What would you do with an extra $56,256 every month?
That's a question I was asked via email from a trader in California who says he knows the secret to making that much every single month…
And he had the receipts to back up his claim. He showed me screenshots from his E-Trade account and told me anyone can do this.
And what I saw was amazing…
I'm talking about $253,032 in profits in just 10 weeks… $458,319 in profits on just three positions… $254,584 in profits after just 63 days… $315,811 in profits in a matter of weeks…
All told, he was over $1 million in profits this year alone.
So I did some research on this guy, Chuck, and he might very well be the most interesting trader in the world. He started with just $4,600 and turned that into $460,000 in just two years, several years ago.
And he's done it all with his secret trading method he calls "Trophy Trades." He hasn't worked a desk job in over three decades, and his system allows him to live out his wildest dreams.
Click here to unlock our private email.
The Worst EV Company by a Mile
Guys, it's pretty well known at this point that I can't stand Nikola Motors... I'm a hater and it's one of my worst electric vehicle maker stocks to own. It's just another wannabe with a CEO who thinks he's the next Elon Musk… he's not.
Nikola Corporation (Nasdaq: NKLA) shares recently popped about 50% to about $54 after it announced a partnership with General Motors (NYSE: GM), only to see them back below $32 within a couple of days.
The whole thing stinks.
And in fact, the Justice Department announced this week it is working with the Securities and Exchange Commission to examine whether or not the company is a total fraud.
So while the electric vehicle market is exploding, it's starting to have that Bitcoin ripple effect where all these knockoffs pop up out of the blue to try and get in on the action. But in reality, there are only a couple of names in this industry that are solid.
The truth is this company has ZERO trucks produced… It made about $35,000 last quarter because the CEO, who has many failed businesses in his background, installed solar panels...
It's red flag after red flag with Nikola. If you're trading options on this stock, there's room to make some money off its volatility.
But from an investment point of view, I'd stay away.
Time to Strike!
Speaking of investing, my good friend Rob Booker over at BookerWealth has some thoughts on how to sharpen your skills and hone your trader's edge.
Long story short, trading the right stocks makes a tremendous difference in your overall portfolio performance. Rob also went so far as to offer up a few free trades he says are forming what he calls a "strike zone pattern."
Rob says one of these three stocks "has the potential to move an absolutely gigantic amount." Even better, they're around $15 or less, so your entry is low.
- Momo Inc. (Nasdaq: MOMO) — Last time he bought this stock, it went from $17 to $21, and he thinks it can get all the way to $23 this time.
- Cheetah Mobile Inc. (NYSE: CMCM) — Rob thinks this stock has the potential to reach $2.15 a share and if that happens, it could easily break to $2.70.
- Kandi Technologies Group Inc. (Nasdaq: KNDI) — Potential to go to $8 a share if not return to its previous high of just over $17.
Signing Off
If you're looking for more compelling trade ideas and stock market musings to read and help you prepare for what lies ahead, here's what other experts at WealthPress are saying:
Lance Ippolito
New Money Crew
P.S. If you missed the last one, be sure and sign up for our next WealthPress TV event, where you'll get a two-for-one special with experts James West and Jeff Yastine.
West and Yastine will fill you in on the new work-from-home culture that has changed the stock market as we know it… forever.
Don't miss this once-in-a-lifetime opportunity to invest in the winners from this new normal.
Click here to sign up for the next big event!
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Disclaimer & Disclosures: The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information.
Past performance is no guarantee of future results. There is a high degree of risk involved in trading. For our full disclaimer, visit here.
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