The Right Way to Speculate

By Marc Lichtenfeld

August 6, 2021

I’m the dividend and income guy – which means I loudly profess taking deliberate steps that slowly build your wealth and income.

I love it. After having done it in my own portfolio for 30 years, I can tell you that I still get a thrill every month when I look at my statements and see how much income is coming in.

But I recognize that dividend income doesn’t get the adrenaline going or release dopamine in the brain for some people.

And you know what? I love the excitement and profits of trading too. Turning a quick profit is an incredible feeling. There’s nothing like turning $500 into a quick $1,000 – or when your profit represents something tangible, like a mortgage or rent payment.

As fun as a winning trade can be, a losing trade can be not only deflating but also devastating if the loss is too large. So when speculating, you want to make sure you’re doing it the right way.

Here are three things you can do to make sure you don’t let all of your hard work from investing and trading go down the tubes because of a momentary lapse in judgment…

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