Well if you did, congratulations, but if you didn’t, please read on….
Today’s announcement of a $1.75bn third quarter profit raised a number of eyebrows out there in the market. We constantly hear about how the Aussie economy is slowing down – but the CBA profit shows the bank is bucking the trend and continuing to literally print money.
To give you an idea, CBA (ASX:CBA) stock has put on almost 40% over the past 12 months. There is no question that some people will be disenchanted with this news and claim its not fair that they should be making so much money, everybody has had the opportunity to participate by buying shares. If not the shares then maybe a lower cost options play.
Slowing Economy and End of the Mining Boom?
Despite the common perception in the media about a slowing economy and even the end of the mining boom (try telling that to someone who owns Fortescue shares, ahem), the reality is that money is being made and markets are moving. The US equity market is at record highs, the Aussie market has moved back up to near 5 year highs and most people have been sitting on their cash earning paper thin returns in interest.
Too scared of making money?
How about the crazy idea that people are too scared to be making money! I know that sounds nuts but have a think about it. Hold cash and after inflation and tax, make nothing, or invest in a market that has been going up and up.
Yep there are risks with investing and especially in speculating – so why not take an approach where you earn your money up front and know the upside and risk before you start? Why are some people doing this with success and yet you may be missing out?
Is there a magic DNA for making money?
No – not really. It comes down to two things – having the knowledge of what to do and then the confidence to actually do it. Confidence is such an important part of the game and having that trader mindset – where you become very comfortable with and actually embrace risk, rather than shy away from it, is an important component in your trading business – arguably more so than simply support and resistance!
Is that true?
Putting it simply – YES – it is true. Everybody looks yet only some people see the opportunity. Having the right mindset – and I am not talking about some “woo woo” incantation of money flowing to you like rivers of water, but really developing a prosperous mindset is critical. Take CBA and its current run – what was it that stopped you from jumping on?
We all know that the banks make money come rain hail or shine!
They are public enemy number one, in some people’s eyes because of that. But rather than get hot under the collar about that, how about make some money instead? Sounds obvious – so what was it that held you back?
Well it really doesn’t matter now, as that trade has gone. The trouble is, what stopped you getting on CBA will most likely stop you from getting onto the next opportunity – and the one after that. Now please don’t misconstrue my intentions here – I am not trying to beat you up about missing this one – I am trying to help you break through your own profit roadblock – because you deserve to have the opportunity to be making money.
Your FREE Gift
Here is a gift for you – consider it a reward for being a loyal weekly reader. This gift is going to be extremely valuable to you, as an action taker, and I know will help you be a more successful trader. As my guest, I would like to give you access to THREE of the most important trader psychology and mindset tools that I have learned from almost 20 years as a professional trader.
Worth tens of thousands of dollars to you
The great news is not only are these FREE, but they are also going to be worth tens of thousands of dollars to you, when you apply them. The bad news is they are going to be worthless if you throw them away.
So lets look at the positive – you missed CBA but you wont miss the next one, unless you are too scared to make money. I don’t believe you are scared – perhaps you just need a helping hand, so enjoy your gift, by claiming it right here.