For most people on the outside, the stock market is a wild and mysterious ride that has more ups and downs and twists and turns than a Coney Island roller coaster. It can be as mysterious as it is intriguing and every day people line up to ride hoping to take advantage of scintillating highs while avoiding the terrifying dips, drops, and plummets that await.
One question commonly asked by people considering getting in on investing action is whether or not the market has found its bottom. The hope is always that it can’t possibly go any lower and is on the way to an upward trend. Day trading mentor and the founder of Tradenet day trading academy, Meir Barak, believes the market isn’t quite there yet, saying, “I believe the market will break the S&P 500 level of 2650. On my book, The Stock Whisperer, and wherever I could, I’ve always said that on the downturn, the first bottom will always break. Only the second bottom will hold and then the market will change direction. So for now, I’m a bear.”
By proclaiming himself a “bear,” Barak is saying that he believes the market is currently trending down. That isn’t necessarily a bad thing. While a downward trending marketing does encourage selling, this is also a time for patient traders to buy low with the expectation of a recovery coming soon. Most people are well aware that there is money to be made in the early stages of an uptrend in the market.
Each investor is different with a wide range of goals and expectations – not to mention some people are simply bigger risk-takers than others. It’s important to know your own tolerance for risk and work within that limit.
For novices to the thrill ride known as the stock market,education about the stock market is critical to allow you to take informed risks or identify moments when it is better to bide your time until an opportunity you are more comfortable with comes along.
Unlike many industries, the more you learn about the stock market, the more you will realize there is to know. That’s why it is critical to constantly seek out new education that builds on your existing knowledge allowing you to grow your prowess with stock market investing along with your portfolio.
you can watch Barak day trade live and learn tips and strategies on his youtube trading channel