B The Trader 90 Year Old Millionaire Trader Shares His Biggest Mistakes
4 snips
Feb 17, 2025 Joe Valenti, a 90-year-old millionaire trader with half a century of market experience, shares invaluable lessons from his extensive journey. He reflects on the importance of broker selection and contrarian trading strategies, revealing how resilience can lead to success. Valenti emphasizes the mindset shift needed to embrace losses as integral to trading success. He also discusses the significance of technical analysis, recounting personal anecdotes about major trades and the learning process that comes with both losses and victories.
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Contrarian Approach
- Embrace contrarian thinking in trading.
- Avoid following the crowd, as it often leads to incorrect decisions.
Motorola Trade
- Joe bought Motorola at 21, his first stock.
- Holding long-term would've yielded more profit than his swing trade.
Brokerage Changes & 2008 Crash
- Joe's brokerage firm changed hands four times during his career.
- He witnessed the 2008-2009 crash and Wachovia's downfall.