Replies to post #57277 on GrowLife Inc (fka PHOT)

[investor0464]

My goal with trading is to double my money each year. If you think about it, if you really learn trading/charting/fundamentals, etc, it's really not that hard to double your money each year.... The reason people fail at it is because they get greedy.

When I've been successful with trading, is when I've taken 10 to 20% and then real quickly moved on to the next trade..... True, you will have a bad trades, but as long as you cut your losses quickly and then move onto the next, it's not that hard to double your money each year. I always tell me people to ask themselves, how many trades would you not have screwed up had you just taken a 10 or 20% gain and moved on? Before I learned how to trade, I made that mistake a ton of times.... Now with that said, I look at PHOT as an exception and that's only because it's in a very very smoking hot sector right now. If that wasn't the case, I would have traded out of this already.... Right now I'm just trying to build my trading book library and learn everything I possibly can... Currently I have about 15 books, and only 5 of them I've read so far..

[Canna_Trader]

Good points, but doubtful IMO. You are also forgetting you will have years of excellent growth doing more around 14%+ and a couple years of those would set you up past $500k and you can keep compounding that if you so choose. Plus after a few years of doing well you might as well just cut down your risk. Also dependent on your idea of retirement. And hell if your young why not work a 5-10 more yrs. Even making 30k a year you'd really be taking home about 60k even at 8% of 400k annually. Just thoughts. My idea of retirement isn't doing nothing and living like a king. Its working doing whatever it is I want and still having enough for a decent life for my family and I.