Here's the Only Way to Profit from the Market "Bandwagon"
August 25, 2020 at 05:00 AM EDT
Ever heard the term "bandwagon fan"? Take the Pittsburgh Steelers, for example. They're the best football team in the NFL from where I'm standing. But the Steelers were a steamrolling, unstoppable NFL "dynasty" in the 1970s. The Pro Football Hall of fame notes (and I can confirm), "Eight consecutive playoff berths, seven AFC Central titles, and four AFC championships from 1972 to 1979. The Steelers became the first team to win four Super Bowls and the only team to win back-to-back Super Bowls twice." But the wheels fell off in 1980. The team went through a 26-year championship drought, until 2006's Super Bowl XL when - don't you forget it - the Steelers became the first wildcard team in the NFL to win three playoff road games and the championship. I stuck with 'em for those long years, but who knows how many fans went elsewhere. Of course, those bandwagon fans came running back after the 2006 championship. You never want to be called a bandwagon fan because, let me tell you, Super Bowl XL felt a whole lot better for people like me, who'd stood by the team for those 26 dark years. No wonder one of my 10 Commandments of Trading is: "Avoid running with the crowd." In other words, stay off the bandwagon unless you're actually in the driver's seat. That's an approach that's made me one satisfied sports fan, but, more importantly, a really successful (read: "really wealthy") trader... Full Story The post Here's the Only Way to Profit from the Market "Bandwagon" appeared first on Money Morning - We Make Investing Profitable . That's an approach that's made me one satisfied sports fan, but, more importantly, a really successful (read: "really wealthy") trader... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.