Jason Brown – You Never Go Broke Taking a Profit

BIO: Jason Brown is the founder of Power Trades University and the Brown Report. He has over a decade of stock & options trading experience, is a podcast host, and is a YouTuber. Jason believes anyone can profit from the stock market, even if they’ve lost money before.STORY: At 24, Jason had about $250,000 in a trading account. Jason wanted to buy a condo and pay cash for it. Condos were like $500,000. He figured that he could use the $250,000 to trade and make enough to pay cash for the condo. So he risked a quarter million trying to make half a million and lost it all.LEARNING: You never go broke taking a profit. There’s no one trade that’ll make you rich, but there is one trade that will blow up your entire account. Don’t set unrealistic or obsessive goals. “You never go broke taking a profit. So, if you’re up, it’s better to take that money off the table and go into your next investment with the house’s money versus trying to make everything at once.”Jason Brown Guest profileJason Brown is the founder of Power Trades University and the Brown Report. He has over a decade of stock & options trading experience, is a podcast host, and is a YouTuber. Jason believes anyone can profit from the stock market, even if they’ve lost money before. They just need to know how to identify the best time to buy and sell and the correct option strategies that can supercharge returns and minimize risk. Jason helps people go from nervous beginners to confident stocks & options traders. Check out his Free Stock Market Starter Pack and Premium courses and coaching.Worst investment everAt 21, Jason had an account with $113,000. He felt smarter than everybody. He’d made a six-figure income without a degree or a job. Jason went into full-time trading for the next two years and grew the account to about $300,000. But since he was living off some of the money, he had a balance of $250,000.Jason decided to buy a condo downtown Royal Oak, Michigan, and pay cash for it. Condos were like $500,000. Jason figured that he could use the $250,000 to trade and make enough to pay cash for the condo. So he risked a quarter million trying to make half a million and lost it all. Jason didn’t lose the money all at once. In fact, he was up $100,000 in that trade, but he wanted to make half a million in one trade. So, he ended up blowing his entire account. That was Jason’s worst investment because he already had a good life. He had a nice place to stay and a nice car. He didn’t need to risk his entire account to buy some condo in cash. It just wasn’t smart. This investment made Jason lose everything. He had to sell his car, move out of his place, and return home to live with his mom.Lessons learnedYou never go broke taking a profit.There’s no one trade that’ll make you rich, but there is one trade that will blow up your entire account.You’re stronger and better than your worst day.It’s OK to have an astronomical goal, but also be OK with the astronomical risks of the goal not working out.Andrew’s takeawaysDon’t set unrealistic or obsessive goals.Don’t let your worst days define you; grab power from having faced...