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Price Targets and Trade Plans

As much as I wish I could say the following person’s thought process was all it took to have success in the world of trading, unfortunately, it takes a whole lot more…

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Transcript:

I hate to rain on your parade,but trading is not this easy.(whooshing)I got this comment on a YouTube videoand it kinda just sparked something in my mind where,I probably should doa Clay Trader Mail segment on it just to make sure.I would assume that most people know this,but clearly some people don't know thisand at the end of the day,sure, these are for entertainment purposes,but these are also for educational purposes.If there's something that you may not be aware ofor that you may think is one waybut in all actuality is probably another wayand for this, I'm just gonna get to the commentand I think you'll quickly figure outwhere I'm headed with all this.So let's get to this comment that I hador that was left for me on one of my YouTube videos.So David says, "Yahoo Finance projects the price"a year from now at $6."This was left on one of the videos I dowhere take a chart and then do analysis on it.MNGA was the ticker symboland that video was from early October,so depending on when you watch this,I mean, you can always go and check the price.But a little context, as of right now,the price is trading for like 50 cents,give or take a little bit,but according to David, hey, you know what?Yahoo says that a year from now this is gonna be at $6.If you think that trading is really as easyas using price projections from Yahoo Finance,or just really from anybody,from an analyst, from a bank,I guess analysts work for banks,so they're one and the same.Point here being, that's not really how trading works.If you honestly think that you can just,okay, well this one's,this price target's at X and I'm gonna find Y,which is really far below X, then that's all I have to do.Yeah, the more you're in trading,the more you realize that all the analysts' predictions,is it a buy, is it a hold?Is it a strong buy?Is it a conviction sell?It's all smoke and mirrors, it's all just an illusion.Yeah, analysts get some right, but they get some wrong.So, at the end of the day,if this stock market thing,if the market's were actually predictable,then there would be some very,very, very rich people out there.Now over time what is predictableis that market's tend to rise, but that's over time.I mean, we're talking decades and decades,so it's not like it's, and this one is what I loved,and I don't know, I'm not throwing Yahoo under the bus,'cause I don't even know if Yahoo said this,but apparently according to Yahoo,a year it's gonna be at $6.My guess is probably some random personon one of the Yahoo message boards said this,but point being, price projections,it's just smoke and mirrors, okay?You can't take a price projectionand factor that into some sort of viable model because,okay, well, the price is supposed to be hereand I just bought right here which is much less, therefore,it's just a matter of time before I make money.I assure you, analysts, as an FYI,they adjust their price projections all the time.So, just because something is valued at one time,does not mean that three or four months laterthat analyst, that bank, that whoever,doesn't come back and say,"Well, we've had to revise downwards because of X, Y and Z,"well now all of a sudden, they've revised downwards.So, it's just an educated guess on their partand to think that, especially on this one,it's not like it's even close.This is 100s and 100s and 100s of percents awaythat this person apparently is factoringinto their mind and plans somehowwhich is gonna leave them very, very disappointed.So moral of the story, it's not that easy.You don't just go out there, find price projectionsand then base an entire trade plan around that.I wish I could say it was that easy, but it's not.If you are out there trading alone currentlyand maybe are in the market looking for a community to jointo assist you in your trading or to just help you,give you another set of eyeballs,then I do have a private trading communitywhere you can trade alongside meand other experienced traders.So what you see popping up on the screen right nowis both an information link,so if you click on the inner circle one,that is going to take you to the pagewhere I explain all the detailsof what exactly come with the community,both the chat room and the newsletter.And then the other image that has popped upis a behind-the-scenes tour where you can see exactlywhat is going to be contained within the community.I take you through, like I said,a behind-the-scenes tour of everythingand that way you'll know preciouslywhat you are getting when you join.So, definitely check that stuff out if you are interestedand thinking about wanting to join a communityand let me know if you have any questions.

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