My top millionaire and even upcomingStudents are incredibly talented and motivated and this makes them absolute beasts when it comes to achieving their goals. Given the high caliber of people who are drawn to my , it’s no wonder that over the years, I’ve mentored numerous students who have forged successful careers as penny stock traders.
Download the key points of this post as PDF.
If you’ve watched my recent interviews with them:
…then you know what I’m talking about
It begs the question: what are they doing right that everyone else isn’t? Here are five things that you can learn from the students of the Tim Sykes Million Challenge Team. Could you be the next success story?
1. It’s never the “right” time. A lot of people put off education and therefore any shot at future success. They think that someday in the future, they’ll eventually get around to putting in the effort to making their dreams come true and find financial independence. The problem is, it keeps on being something that they put off in the future…and you can make excuses ALL YOUR LIFE, but then your shot at the dream life will pass you by and I hate that.
As my top students know, there’s never a right time to join myas there’s a ton of hard work and studying that’s required. It’s not the type of thing where everything in your life needs to be just right. It’s a matter of being ready to change your life for the better, no matter what your current circumstances.
I’ve had students who are single parents, who work full time, or who have other things that might make it seem like thesimply wouldn’t fit into their schedule. But they know that in order to gain financial independence and become a millionaire, taking action is important. They adjust their schedules, and they make time for what is important. You can, too.
2. There’s a lot to learn, but education changed everything. As any of my Millionaire students will tell you, before you begin to make money or find success as a trader, there’s a lot to learn and digest. Even when you do begin to find financial success, there’s a lot of knowledge that you must acquire to increase your odds of success in the market. Are you noticing a trend here? There are always new things to learn, and this is one of the biggest lessons I can impart to my students.
If you look at longtime millionaires, you’ll notice something they have in common: they are lifelong learners. Successful people never actually reach a pinnacle where they say “I’ve made it” and stop trying. Or if they do, they stop being successful.
Learning the ways of the stock market is just the beginning. Not only will you learn important basics, but it will help you make a habit of learning. This will serve you for as long as you’re a trader, and probably in other aspects of life, too.
3. You cannot figure out an exact formula. There isn’t one “secret” which will unlock trading penny stocks for you or anyone. However, it is true that like everything else, history repeats itself in trading penny stocks so it’s ket to learn from the past to be better prepared for the future.
When you first start trading, you do a lot of learning by doing and yes, there will be ups and downs. That’s why I HIGHLY recommend papertrading here to practice at first, but in time, you’ll begin to settle into a groove. You may find, as my student Tim Grittani famously has, that patterns exist when it comes to trading penny stocks, but it took him 9 months to even get consistently profitable. By studying and refining your own method, you begin unlocking and figuring out these patterns, and only then you can begin to make consistent money although understand you’ll NEVER win 100% of the time.
As you begin to trade, focus on what is working and continually try to streamline and improve your processes. This is how you’ll figure out the system that works for you, and allow yourself the room to grow and make more money with every trade.
4. It’s possible to make millions within a few years. Perhaps you’re intrigued by the Tim Sykes Millionaire Challenge. Maybe you want to start trading. But never, in your wildest dreams, do you think that you could ever become a millionaire in just a few years, most Wall Street legends say it takes decades. The good thing about trading instead of investing is that you can find success much quicker…and yet some people still don’t believe it’s possible.
If that is truly your attitude, you probably won’t make millions very quickly as you MUST realize it IS possible and then you get yourself on the right path. But if you can adjust to the exact methods that have made me and my top students millionaires in just a few years, then yes, it is possible to become a millionaire in a few years and every new Millionairestudent of mine proves it.
I have groomed several students who have made multiple millions following the challenge ALL WITHIN A FEW YEARS. These driven students took my teachings to heart, and worked hard to develop their own style of trading best suites to their own strengths and weaknesses, no one magic formula fits all.
So, understand that becoming a millionaire is not a pipe dream, but it also won’t be overnight and you will also have to study harder than you ever dreamed possible. The good news is I have laid the blueprint down for you so great success is very realistic if you dedicate yourself and follow instructions to a T, so why stop yourself short of true success? Anyone can become a millionaire: it’s just that few are willing to put in the work.
As you enter the Challenge, you’ll need to set goals. “Become a millionaire” can be one of them, but you have to be more specific and say why. For instance, “Become a millionaire so I can buy myself a condo in the city and my mom a house in our hometown” is much better because it gives you specific things to work toward. As you embark on your trading, these “carrots” dangling will keep you motivated and help you earn the money that can make them happen.
In time, you may find that simply becoming a millionaire isn’t a big enough dream, and you’ll have to dream even bigger.
5. There will be ups and downs. Yes, I did just say that anyone can become a millionaire. I believe that this is true, but it requires targeted effort, time, and learning the right ways to make money. But what I didn’t mention is that it won’t always be easy.
As much as we would all like to have a steady ascent to riches, it doesn’t always work that way. You take three steps ahead, then two back. Sometimes you have things go wrong or you make mistakes. The key is to stick with it and learn from your entire journey. Read this blog post about how some of my top students found success only after longer than they initially thought it would take…there’s no exact timeline on this either.
Happily, there are things you can do to make it easier to stay on track. Work on educating yourself and improving your relationship with failure and risk. Really think about your goals on a daily basis. Take great care to forge a network, including peers, a mentor to advise you, and the support of family and friends. There will be ups and downs, but you can do this.
My top Millionairestudents are some of the most inspiring and hardworking people I’ve ever had the pleasure to work with. Their resolve and work ethic inspires me to do better, which in turn makes me a better teacher. By learning from my students, you’ll develop the skills to get ahead in my challenge and find the success you truly deserve.
What lesson resonates most with you the most? Leave a comment below, I’d love to hear from you!