Wealth, Freedom & Options With Joshua Belanger

Likely you've had a large loss that may have either blew out your account or saw your life savings slashed more than half. For some, they become shell shocked after that experience. In no way am I comparing the trauma World War 1 soldiers endured to the loss of money in the financial markets. War is the ultimate extreme, but this was the only example I could think of on how significant losses affect those who have endured them. What usually happens is that most, when they start out, want to generate instant profits now! So they don't take the time understand how to manage risk or know how they will react when a position does go against them. They take on too much risk, and the odds played against them, which forced a massive loss. Those who go big, lose big. It makes us feel like the unluckiest person ever, but it's just odds. If you sit at the table long enough, it will always turn against you. I had this happen to me in 2010 with enduring the largest loss I've ever had with a position in the stock