Consistency or one time large profit?

[Jastinross]

Me too @Johannab! It is better to keep making money than getting some large profit at once. I have that in my trading plan and I have to say it is working out just fine for me. These days I’m on a broker hunt and I can’t find a platform that offers tight spreads and is also reliable. Any suggestions would be great.

 

[piezoe]

I have been trading for over 15 years, always valued getting rich slow, but recently I have seen that one time large profits are rewarded like its brain and not luck, that has been the case since March 2020, TSLA, GME, NIO and the likes have quadrupled in profits while I maintained my "get rich slow" mindframe and was underperformed,
Wanting a piece of the action I repeatedly ask myself should I update my trading version to the new style of trading and bet on the hottest names instead of investing in solid, profitable companies with average returns?
Any thoughts?

No, keep doing what you're doing. Diversify among the best stocks in stable, well capitalized S&P companies with bright futures. Sit on cash or Treasury Bills if you have to, to avoid buying at near all time highs. Every few years there will be buying opportunities on market corrections of 10% or more. Pick up stocks like AMZN, GOOG, DEO (liquor), JPM, GS, AMGN, APPL, NTR (fertilizer), ASML (IC technology), (add some mining and metals in there too, SQM for example). Once you have done that, then add small amounts of one or two high flyer volatile stocks if you want a little more excitment. Buy in a Roth Account to simplify the bookkeeping and avoid taxes on gains. Then just sit and enjoy the ride.
(Or you could buy BLK, and let them do this same thing for you, with less hassle but also less fun and satisfaction. )

Keep in mind that any stock that has a significant probability of going to the moon overnight also has a significant probability of going to virtual zero overnight. Because these stocks are traded almost entirely on irrational human emotion based on some combination of information , misinformation, and disinformation and blatant hype, rather than careful consideration of their realistic prospects.

 

[Johannab]

Me too @Johannab! It is better to keep making money than getting some large profit at once. I have that in my trading plan and I have to say it is working out just fine for me. These days I’m on a broker hunt and I can’t find a platform that offers tight spreads and is also reliable. Any suggestions would be great.

I don’t use a particular platform for trading and I kind of like to go for multiple ones. Right now I have Tradestation and Fxview as my brokers offering low spreads. Since the conditions suit me, I find them okay. However IDK what would qualify as ‘reliable’ for you.