Patience equals profit in the stock market.
For example, did you miss out on Monday’s big moves upward? It could be your approach as much as bad timing or luck.
I used to be one of those traders who would latch on to a stock idea one week, and then something else the next. I didn’t become a better speculator and investor until I learned one key discipline: the discipline of patience.
Only by having a little patience could you buy Valero Energy (NYSE: VLO) on Oct. 5 when I made that call… which is now up 30%. Or Chevron Co. (NYSE: CVX) or Exxon Mobil (NYSE: XOM) in that same video. Those two energy stocks are up 20% and 12%, respectively.
The point is that you can’t wait until the headlines say “Buy” because now we have two potential COVID-19 vaccines that are almost ready to go. You have to buy in anticipation of those headlines coming down the pike.
That’s why patience equals profit in the stock market. Luckily, there are still plenty of stocks out there that are only just starting to move… and they have the potential to go much higher.
Sticking with that theme, today I want to revisit a stock I first talked about a couple of months ago. This stock is an energy and “internet of things” play I first told you about in a video on Aug. 31. Back then, I predicted it could double by New Year’s.
You can still buy it for a few percentage points less than when I recommended it and… yes, I still think this stock can double by the beginning of 2021.
So check out my short video below and let’s chat more about this stock.
Since patience equals profit in the stock market, are you patient enough in your investing? Is patience something you need to work hard at, or does it come naturally to you? Share your thoughts in the comments below.
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