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Youstudents are in for a treat with another live webinar with this great trader tomorrow morning at 9am EST so get excited and be ready to attend early in the morning!
For those of you who don’t know, it’s mystudents who are my most VIP and because we don’t accept everyone as you must prove you have the right attitude and dedication level to gain entrance.
Outsiders and non-students never really realized how great of a community it is until the past few weeks since I’ve been releasing interviews with several of my top this young man, or $700,000+ like this upcoming great or even when a few of us got together in the Caribbean here, but far and away the best response has been to this video:students, whether they’ve made $4+ million like
And even though many people have already watched it, let me tell you to watch it again as there are SO many good nuggets of wisdom in it and so many great lessons, trust me you’ll learn even more on the 2nd or even 3rd viewing.
And we finally got it transcribed below too for my valued deafstudents:
Tim: What’s up? Tim Sykes, millionaire mentor and trader, here with the man, Steven Dux. Congratulations.
Steven: Thank you.
Tim: Nine hundred thousand dollars in profits in one year from…what’d you start with?
Steven: Twenty-seven thousand. And started last year, February.
Tim: Yeah, so this is March, so a year and one month, $27,000 to $900,000.
Tim: What is your secret? Tell us. How do you do this?
Steven: You wait for the perfect opportunity and you just need to wait and wait and wait. Wait for opportunity fits every single of your criteria. Then you go for the trade.
Tim: What is your criteria? How do you determine what is a good versus a not good setup?
Steven: You build a spreadsheet. You know what you’re good at, what you’re bad at. And, you know, trying to improve what you’re bad at and trying to advance what you’re good at.
Tim: So you’re kind of like Tim Grittani, where, you know, Tim Grittani has a lot of spreadsheets. And he’s only taking $1,500 into, like, $4 million in five years. He was formerly my top student. I don’t know. Now you’re coming up on him. How many spreadsheets do you have versus how many does Tim Grittani have? Are you guys gonna have, like, a spreadsheet battle? Like dancers have, like, a dance-off. Like rappers have, like, a rap-out. You nerds have, like, a spreadsheet battle?
Steven: I do have couple thousand spreadsheet of data.
Tim: Of course.
Steven: So I record…even though I’m not trading, I’m recording what’s the pattern works the best. And I’m taking that percentage into my trading, that that’s how I make large amount of money at once, because I never lose.
Tim: Never lose?
Steven: I don’t lose that much, because there is almost 90%. There’s one pattern has 90%.
Tim: I saw that.
Steven: That’s the winning percentage.
Tim: I saw that, looking through your trades. You said 87% winning percentage, right?
Tim: So what is this one pattern that’s 87% probability of success?
Steven: Okay, there’s three patterns that works 85% of the time.
Tim: Tell me.
Steven: Number one, is first red day.
Steven: Number two is buying huge panics.
Steven: Number three, this one has to fit a lot of details, and with lot of experience of shorting spikes. Number four used to work really well, but now in this bull market doesn’t work that well anymore. It’s called shorting parabolics. But right now, the ETRN, ZSAN, and one of the…no, it happened yesterday, destroyed all the parabolic short sellers.
Steven: So that pattern is start not working.
Tim: So you find that patterns work for a little bit and then they stop working? But these other three patterns work pretty much every time.
Steven: Every single time, mm-hmm.
Tim: These are patterns from my “Penny Stock Framework” DVD.
Tim: You must like that DVD.
Steven: I did. I did.
Tim: How many times have you watched it? Give people watching this, like, what were the steps that you took to learn all this? Because a lot of people start with $27,000 and they don’t go to $900,000. They don’t even go to $90,000. How did you learn all this so quickly? What was the steps you took?
Steven: I was majoring in environmental engineering. It was so much stress and there’s so much difficult classes have to take. So I…
Tim: How old are you right now, by the way?
Tim: So you’re 22. You started when you were 21.
Tim: Okay, sorry. Go ahead.
Steven: And I’m just thinking doing something more. And I heard about the stock market, and I heard about you.
Tim: Yeah, how’d you find me?
Tim: Ah,. Nice.
Steven: I didn’t thought you’re a scam. I never doubted you before, because I heard what you’re saying. It’s actually with…your logic is actually helping people. So it’s not for something like are learning something, I’m buying this and buying that. And I started get into it. I started learning your mentality.
Steven: And am start learning when you are going to buy, so I’m buying before you.
Tim: Cool. So could you predict my alerts ahead of time?
Steven: So I’m starting getting your mentalities. And that’s where I started getting little profits from.
Tim: Very nice.
Steven: You have to be smart.
Tim: Yeah, yeah, of course.
Steven: Then I started look into…I said, “Oh, I want to make bigger money.” I see Tim Grittani and Michael Good and Mark Croock. And I see there’s…I’m start noticing the patterns starting, I think, the first supernova trade is PRGN.
Tim: Oh, yeah.
Steven: And then I see not all supernovas run five days or six days. But there’s going to be one pattern that five days or six day, I can put…not all my money’s on, but I can put almost 80% of the money to put in my account.
Tim: Yeah, yeah.
Steven: And I use that pattern to build my account, because the pattern repeats again and again and again. It never changes.
Tim: That’s crazy, right?
Steven: It’s crazy.
Tim: A lot of the patterns are in Tim Grittani’s “Trading Tickers” DVD. Did you like that one?
Steven: “Trading Tickers” helped me a tremendously.
Tim: Yeah, right? He’s amazing, how much, like, he gives back to the community. And his webinars, too. Did you watch all of his challenge webinars?
Steven: I watch all his challenge webinars.
Tim: I know you said, you told me you were studying on the toilet. And I’m sorry I told everybody. People tweet me pictures of toilets. They’re like, “Look, I’m like Steven Dux. Here’s my toilet.”
Steven: I do have a couple books on my toilet, so every time I sit on toilet, I read.
Tim: Can you really get anything done, though? Like, are you on the toilet that long? And you’re, like, studying. Is that just to show me, like, how much you study? Like, every minute, you’re studying.
Steven: No, I actually get stuff done.
Steven: I actually take notes on the toilet.
Tim: So you multi-task. So you’re on the toilet. You’re doing your business and you’re taking notes?
Tim: You’re a talented man.
Steven: I like to think. I don’t like to study. I like to think why we are studying.
Steven: So you find the fundamental of it. Then that’s where start it.
Tim: Yeah, so you’re like a philosophy. I was a philosophy major.
Steven: I love philosophy, too.
Tim: But you’re environmental sciences?
Steven: Environmental engineer, yeah.
Tim: And wait, you said you were a double major, too.
Steven: Yeah, I’m majoring accounting right now, too.
Tim: So, environmental and accounting and stock trading.
Tim: How do you have any time to, like, live?
Steven: I don’t have time.
Tim: We were actually talking about this before the camera started. All of my millionaire students are from the Midwest. And now, you’ve come to Miami, and you’re like…what did you say?
Steven: There’s so much stuff to do.
Steven: The Uber driver told me, “You can do this. You can do that. You can do this.” I was like, “Okay, stop. I need to pick two.”
Tim: There’s nothing to do in the Midwest.
Steven: There’s nothing to do.
Tim: So every single person in the Midwest should sign up and study to get out of the Midwest, and come to places where there’s stuff to do.
Tim: Do you still like the Midwest, though?
Steven: It’s quiet. You can do your own thing.
Tim: You can do a lot of stuff. You can do your double major.
Tim: Are you still doing okay in school, though?
Steven: No, my grades slipped a little bit.
Tim: Oh. But it’s okay, because you’re making more than, you know, all your professors combined.
Steven: I didn’t really tell my friends. But I have one friend following your silver subscription. That he see me on, and we’re in classmates. And he’s texting me, like, “Hey, I saw you on…I’ve been following you for a while.”
Tim: But you didn’t know, because you didn’t tell him.
Steven: He didn’t know.
Tim: But I accidentally let the cat out of the bag, because I have a big mouth.
Tim: So what did he say in class?
Steven: He’s like, “Can you show me your setups?” Like, “Can I come to your house?”
Tim: Ah, I busted it for you. I’m sorry. But so, he’s the only person in your life that knows? Your family doesn’t know about your success so far?
Tim: Why? Don’t you want to share it with them? Don’t you want to tell them?
Steven: I like to be a surprise, like a big surprise.
Tim: I guess this is gonna be a big surprise. That’s kinda cool, you know? They probably…do they know that you’re stock trading at all?
Tim: No. Would they be happy that you’re stock trading?
Steven: I mention one time stock trading before, and they are really not liking it.
Tim: They’re old school.
Steven: Like, “You put money in stock market you always lose money.” And I put in stock market before. I lost money so I don’t want my kids to lost money.
Tim: Yeah, yeah.
Tim: So now, are you planning, like, their birthday, or is there, like, a big event that you’re planning to tell them? What if they watch this video? They don’t watch, do they?
Steven: No, they don’t watch.
Tim: Okay, so there’s no problem.
Steven: They’re old school.
Tim: Okay. When are you gonna tell them? You have to tell them sometime.
Steven: I want to buy them…I don’t know. I want to buy them something.
Tim: Yeah, yeah. Okay, I like that. So you’re just gonna say, “Here, I got this for you.” And they’re gonna be like, “How’d you make your money?”
Tim: And then you’re gonna tell them.
Tim: But first, you’re gonna show them, like, a big…you’re gonna buy them, like, a house or…
Steven: Yeah, a house.
Tim: …something like that.
Tim: That’s cool. I like that. I appreciate that.
Steven: My mom likes houses, so maybe one day I took her to here and took her to Hollywood, and tell my mom, says, “Mom, there is all houses in Hollywood. Pick every…pick what you like. I will buy it.”
Tim: Wow, that’s cool. I like that. So you want to take care of your parents. What else do you love about this? Aside from just the money, do you like, like, the challenge and, you know? Or do you not like that?
Steven: I like the challenge.
Tim: Do you wish it were easier?
Steven: The challenge was very challenging one year. It took so much effort for me to get there.
Tim: Yeah, and it’s not over. It keeps going.
Steven: And after you practice that certain amount of skill, you are set for life. Seriously, you set for life because you can always make money.
Steven: No matter what, with high risk level and lots of pattern trading.
Tim: But, you’ve learned not to go to the grocery store in the middle of the day.
Steven: Yeah. I lost $15K on HTGM.
Tim: Because you went to the grocery store.
Tim: Why did you go to the grocery store while you’re in the middle of a trade?
Steven: I actually got pulled over, because I was speeding to go back to my house and I got pulled over.
Tim: You got pulled over on the way back from the grocery store?
Steven: Yeah, and I didn’t bring my driver’s license. And I got a, like, a $700 ticket.
Tim: So you lost $15,000 plus $700.
Steven: Ticket, yeah. And some points minus.
Tim: But you still made $100,000 on the week.
Tim: So last week, you made $160,000.
Tim: How did you do it? Was it, like, $10,000 here, $10,000, $10,000, or was there any one big play?
Steven: No, there’s $30,000, $40,000, $30,000, $40,000.
Tim: Which plays were they? Were they all shorts?
Steven: There was one…is it? No, no. HTGM.
Tim: Have you posted that on Profit.ly? I think you did.
Steven: I didn’t post.
Tim: Oh, okay.
Steven: But I made one. I made a big trade. What’s it called? I don’t remember. Tim Grittani was doing a webinar on that. I was shorting big, from 3.6, 3.7.
Steven: Mark Croock knows it, too.
Tim: Okay. And Grittani was shorting it, too?
Steven: He didn’t short it. He said he is waiting for bounces to short.
Tim: Wow, and you just went in. See, you’re a little more aggressive than him.
Steven: I actually swing that trade, and they actually diluted 10 million shares. And selling on the way down.
Steven: So I covered that. I shorted 3.7, covered 3, and got a bounce to 3.5, and covered, like, 2.4.
Tim: Wow. That’s awesome. So, I mean, I also see you in the chat room, in the challenge chat room. And thank you so much for helping, like, you know. You’re helping mentor other people. Like, I see you answering questions. You need to be a little more selfish. Like, focus on you. You’re already a double major. You’re already trying to make millions of dollars. Like, calm down.
Steven: I see people making stupid mistakes.
Tim: I know.
Steven: I see people shorting AUPH. Like, why do you short AUPH?
Tim: Entire chat rooms got destroyed, to be fair, on that. So, their influenced by group-think. You know, like when a lot of people are shorting a stock, they’re like, “Oh, let me short, too.”
Steven: You can’t let alerts get your head.
Tim: Alerts and anybody else. You have to be self-sufficient.
Tim: And this is what you’re, you know, not just preaching, you’re practicing.
Steven: Uh-huh. Also, I try new short after offering. It never worked for me, so I didn’t short AUPH this time.
Tim: Yeah. No, I mean, what was it? TGTX just kept going. They did an offering and it keeps going.
Steven: And AKAO. Now it’s $27. I was shorting that $13.
Tim: Yeah. Yeah, so what have you learned about short selling that, you know, you think would be a good tip for people? Because I see some people, there’s a flawed strategy, I think, that’s out there where you just short these plays. And the higher it goes, you short more and more because they’re always gonna come down. And in the past six months, this has destroyed a lot of people.
Tim: What do you think?
Steven: So, when you trying to short a low flow, especially a low flow right now, under $10 million flow, you can’t short on the front side of the move. You have to wait for the momentum snap, and you wait for the back side of move. And because right now, the supernova goes lot higher than before, and you can still make that much money when there’s back side move. So why you rushing in so much?
Tim: How do you determine the back side from the front side? What’s the key indicator that you use?
Steven: Either the stocks go red or the stocks has a huge panic in the morning.
Tim: Yeah, even if it comes back. But it doesn’t finish at its highs.
Tim: The panic is the crack.
Steven: Uh-huh. You want to see…on stock to trade, stocks to trade, there is volume bars underneath. So you want to see where is the red day the most, and you can see where all the panic is.
Tim: Yeah. No, I’ve seen your video lessons. You like stocks to trade software?
Tim: You like the tools?
Steven: I been using them since starting.
Tim: Oh. Uh, and we’re adding more features to it, too.
Steven: Uh-huh, I seen the features
Tim: So you can, you know, give us tips, too, because you’re gonna be, like, a power user. So whatever you need, we’ll build. We have a whole programming team.
Steven: I think stocks trade is really good right now. Sometimes a little bit bugs, but, like, the software is perfect.
Tim: We’re working on it. It’s brand new still. But I like that you say, you know, you’re looking for the red day, you’re looking for the panic. Do you use any, like, crazy technicals? Like Bollinger Bands and RSI and MACD?
Steven: No, no. No, no, no.
Tim: Thank you. Do not use all these crazy technical indicators. It’s amazing how many people, they’re like, “What do you think about this?” Like, I’m like, “I’ve never used that in my life.”
Tim: I don’t know.
Steven: See, actually, at first I got involved because I was flipping and learning them. It was like, “Okay, we don’t use any indicators.” That’s easy for me because my language is so bad, I can’t understand those.
Tim: So English is, what, your third or fourth language?
Steven: Fourth language.
Tim: Fourth language. I feel just unaccomplished next to you.
Steven: Supernovas, ETRM destroyed so many people.
Tim: I know. I know. ETRM, IDXG, also. Remember that one?
Tim: DRYS. Do you know how many people said, “Oh, in the 30s and the 40s. It can never go higher,” then it goes 100?
Steven: I was shorting at 60. That messed me up.
Tim: It did.
Steven: It 60, quick drop to 45. I was looking for that mass panic, and it just kept going. I cut my losses at, like, 60 something.
Tim: But you cut your losses. So let’s talk about that, because we talked a lot about your gains. That’s awesome. How do you cut your losses? Aside from when you’re coming back, speeding, from a grocery store?
Steven: So, I don’t really put hard stops. I only use mental stops. Because people can see it.
Tim: You’re preaching. I did not tell him to say that. I agree. The market makers can see your hard stops. So that’s why you don’t want to use them, because the market makers will drive the price to your hard stop, take you out, and then put it right back.
Steven: Uh-huh. And when you taking your losses, you have to go into the trade with a plan first. And you want to know where you going to cut your losses. And you can’t always go in as full positions. You have to kind of calculate when the stock, if go, if the stock goes here, and if I break this level, I have to cut my losses. And what’s your maximum loss?
Tim: But do you stick to your plan always?
Steven: Yes. I always stick to my…
Tim: How do you do that? Because a lot of people get emotional and they’re like, “Ah, I don’t want to stick to a plan. Let me just add to my position.”
Steven: I close my eye and I click it.
Tim: You close your eyes?
Tim: Every time?
Tim: You have to click it.
Steven: I have to close…
Tim: You close your eyes.
Steven: …my eye. I have to close my eye.
Tim: How do you know you’re clicking the right button?
Steven: I move the mouse to the stuff.
Steven: I close my eye and click it.
Tim: So you, like, take one. You, like, bite the bullet.
Steven: I can always make money back.
Tim: I agree. So, have you had a big loss yet?
Steven: I had…
Tim: What’s your biggest loss?
Steven: Biggest loss was, like… Biggest loss was, like, $20K, $25K, $30K-ish.
Tim: You’ve made hundreds and hundreds of thousands of dollars, and your biggest loss was only $20,000?
Steven: I had bunch of $20K, $30K losses.
Tim: I understand, but in the grand scheme of things…
Steven: But I don’t have that huge $2200K losses.
Tim: That’s what I’m saying. So, Tim Grittani, on his way to $4 million, I mean, he’s lost $100,000, $200,000, $300,000. You haven’t had that yet.
Steven: Because I watch his DVD.
Tim: Because you learn from it.
Tim: So this is what I’m saying. So, the more that we teach, I think it speeds up your learning curve because then you can learn from our mistakes and you don’t have to necessarily…
Steven: That’s why I learn so fast. That’s the reason why I learn so fast.
Tim: How many times have you watched the DVDs? You just watch it once or twice, or what?
Steven: I watch…I don’t know how many times I watched. I watch it when I’m free. I listen to them when I cook and stuff.
Tim: Yeah. If someone was beginning today, what would you suggest for them to do over, like, the next month if they want to maximize their education?
Steven: First, if you want to make money, you have to have patient. So while you want to learn, it’s you have to go over almost every single person that…in Tim’s team. So Michael Goode, Mark Croock, Tim Grittani. You have to go over their other stuff, and you can kind of get a general picture of it. And the rest of the time, for amount, you just watch the market.
Tim: Who did you learn the most from, out of those choices? Or did you combine everyone’s?
Steven: I combined everyone’s. You have to learn everybody’s advantage to make better decisions.
Tim: I agree. I think that’s what you should do. And that’s why, frankly, we’ve created this team. Did you learn more when you joined the challenge versus, you know, just video lessons? You know, did you see any difference?
Steven: It’s huge difference. Like, I can’t compare it. It’s too much between challenge and the video lessons.
Steven: Because there is…people can tell you what you do, what you can’t do. And they…you can see people putting their trades in and you can think why they put their trades in. And if you are only doing video lessons, you can’t see those live stuff.
Tim: No, I agree. And I’m glad that you’ve taken the lessons and you’ve learned, because that’s…you know, you’re like my ideal student, where we make these videos and we hope that our students are, like, not trying to copy the trades, not follow trades, but learn from our mentality. Why are we entering this trade? Why are we exiting? So that you can kind of model it for your own personality. Is that what you’ve done?
Tim: Do you agree with that?
Tim: Because we have different personalities.
Steven: Yeah, we do.
Tim: And you said, you actually tweeted me the other day and you’re like, “Thank you, Tim. I’ve taken your stuff and made it better.” You’re like, “Your winning percentage is 70%. My winning percentage is 87%.” I thought you were faking in the beginning, because I was like, “How does this guy do everything so quickly?” Like, we’ve had students who’ve done very well. But, like, even Tim Grittani, I mean, he didn’t get it until, like, you know, a year and a half in.
Steven: So, when Tim Grittani started, he started with $1,500. And he started with only watching your video lessons. And so I watched his journey, Michael Goode journey, and your journey, and Mark Croock journey. That gives me four…like, three more examples for me to learn.
Tim: You have exponential learning curves. This is why technology is improving so quickly.
Steven: Then my learning curve speeds up than Tim Grittani.
Tim: Yeah. So you beat Tim Grittani now.
Steven: Not beat.
Tim: With the learning curve, not in terms of…
Steven: Learning curve.
Tim: Yeah, that’s what I mean. That’s cool. Okay, so, first month, everyone should have patience. They should study all the stuff. They should join the challenge. This is what I’m understanding from you. What’s next? How do they actually…how does someone actually take what they have in their head or spreadsheet and turn it into a strategy? Do you like paper trading? Do you think that they should paper trade or just trade small positions?
Steven: Trade small positions. Don’t trade…I don’t really suggest paper trading because it’s kind of building into your emotion.
Steven: So it’s not…you can build really small position at 50 shares.
Steven: Starting with.
Tim: For me, paper trading, you know, stocks and trade has paper trading now because people…first of all, they just have to get used to the volatility. So it’s good for them. But it’s not the full emotional education. The trading, the hardest part of trading is controlling your emotions.
Steven: Yes, I agree.
Tim: Which is, frankly, why I’m so impressed with how, like, you close your eyes. Do you close your eyes when you take profits or is it just when you cut losses?
Steven: I close one eye to take profits.
Tim: Are you serious?
Tim: We’re gonna have so many students who are gonna be, like, cross-eyed. So, you close one eye to take profits.
Steven: I close double eyes to cut losses.
Tim: What if you hit the wrong button? What if you’re like…you mean to exit the position and then you double the position? Because your eyes are closed.
Steven: No, I put my mouse on the button, and I close, I click it.
Tim: Why do you close your eyes?
Steven: Because I don’t want to see the red stuff.
Tim: But why do you do one eye open, then, when you have a profit? Why don’t you want to do both eyes open?
Steven: Because it’s a smile face, something like that.
Tim: It’s a smile. You’re making a smiley face at your own computer?
Steven: We’re all nerds, so.
Tim: We are all nerds. I agree with you on that. Did you start this practice right from the beginning or is this something new?
Steven: I figured closing your eyes and click, cut your losses, it’s much easier.
Tim: Yeah. It’s like jumping out a plane. Like, just Geronimo. Like, if you go skydiving.
Tim: Have you gone skydiving?
Tim: Is there anything you haven’t done?
Steven: I need to go to Africa. I haven’t went everywhere.
Tim: I actually went skydiving in Africa. I win. South Africa, that was my second time skydiving.
Steven: I haven’t…I never went to Africa, but.
Tim: You’re not missing much. I don’t know.
Steven: I went to Europe and almost all around the world.
Tim: How many countries have you been to? Are you beating me with countries, too?
Steven: How many countries are you went to?
Tim: I’m at 112 countries.
Tim: Don’t you say 112.
Steven: I’m at, like, 70.
Tim: I’m a competitive person.
Steven: Seventy or 80.
Tim: How? How have you had all this time? I’m saying, like, travel to these countries. I’m not saying, like, just stayed, like, in an airport and been like, “Oh, tick one off my box.”
Steven: No, no. Travel, actually travel.
Tim: You’re 22 years old and you’ve been to over 70 countries. I’m kind of a crazy traveler, and I’ve been doing this for, like, 20 years.
Steven: My dad actually travel and he takes me to travel.
Tim: So have you been traveling while you’ve been trading or no?
Tim: Because you’re in school.
Steven: That was a long time ago when traveling. I haven’t travel for a long time. Was stuck in school and…
Tim: Are you going to? Are you gonna do anything to celebrate your $1 million?
Steven: I want to.
Tim: Tim Grittani went out for pizza when he, you know, crossed a million dollars. Or no, that was when he made $100,000 or $200,000 in a day. What are you gonna do when you cross a million dollars?
Steven: Buy a Lamborghini.
Tim: Buy a Lamborghini. No, save. I’ll give you my Lamborghini that’s here. It’s not that great. What’s your ultimate goal here, you know?
Steven: Ultimate goal?
Tim: Yeah. I find everyone has, like, a goal. Like, a number or, you know, some thing that they’re working towards. And it’s good to define that.
Steven: I do what…I do stuff that makes me happy, make me enjoy. I don’t really care about the money.
Tim: Yeah, you don’t care about the money.
Steven: I don’t.
Tim: All my millionaire students and all my top students, you guys are all so humble. It’s actually impressive. That’s how you should be. That’s the right answer. If I was your professor, I would give you an A.
Steven: My parents teach me when I was little, you make friends not for benefits. You make friends for friends.
Tim: So you’re doing this for the pure challenge, and the money is just a way to keep track.
Steven: Uh-huh. I want to prove my ability, not the money.
Tim: Yeah, yeah. So when do you think you’ll have proven your ability? When you buy your mom a house?
Steven: When I beat every single one of the team.
Steven: Every single one in the team.
Tim: It’s not a competition, a trader versus trader. Maybe it is for you.
Steven: I know it’s not a competition, but it’s a, how do I say it?
Tim: It’s a personal accomplishment.
Tim: I get it. No, that’s cool. You should use that as inspiration to, you know, push yourself. How many hours a day do you study and trade in the stock market, not study in school?
Steven: I do think a lot. If I’m driving, I’m thinking. If I’m walking, I’m still thinking.
Tim: You need to pay attention. I don’t want to hear about, like, “Oh, Tim. I was in a car accident. I was thinking.”
Steven: I can multi-task a lot.
Tim: You’ve been pulled over a lot.
Tim: You tweeted me a few weeks ago saying you got pulled over, too.
Steven: Yeah, I get pulled over a lot.
Tim: I think you should get a driver.
Steven: My license got suspended.
Tim: Good. I think you should get a driver. I think you should just focus on thinking and trading. Take away going to the grocery stores. Take away all this little stuff.
Steven: I mean, I have to live like a normal person.
Tim: I understand, but if you’re thinking like this, like, it’s dangerous. I can see you. Like, you have, like, this genius inside of you, and you’re thinking and you’re studying, and maybe you’re taking notes as you drive. And then you, like, go into the back of a tractor trailer.
Steven: I only think when I drive.
Steven: Or I listen to video lessons.
Tim: You listen to video lessons when you drive?
Steven: You put on blue tooth and start going.
Tim: So that’s how much you study. So how much do you think you study per day? Like, in terms of, you know, the challenge video lessons, webinars, stuff like that?
Steven: I’m always trying to improve myself. I’m almost study when I wake up. I am starting… I take little break, but almost through the whole day.
Tim: Do you sleep a lot?
Steven: I don’t. Right now, I don’t sleep a lot. I don’t know why.
Tim: How many hours a night?
Steven: Because when I’m sleeping, I’m thinking about the stock market.
Tim: So you’re a full-blown addict. So now we’ve seen the upside and the downside of this game.
Steven: I’m starting…
Tim: You’re an addict.
Steven: …to take pills.
Tim: I think aside from studying, and trading, and your double major, I think you’re gonna have to start going to, like, AA meetings. You’re, like, an addict.
Steven: I can’t sleep. I don’t know. I sleep, like, three hours a day.
Tim: Oh my God. Dude, you gotta sleep a little more.
Steven: Sometimes I can’t sleep.
Tim: Don’t burn out. I don’t want you to burn out.
Steven: I don’t burn out. I just cannot stop thinking about stock market.
Tim: What do you think the market’s gonna do right now?
Steven: I don’t care. I don’t really care.
Tim: Every single question, you’re getting the right answer. That was the right answer, by the way.
Steven: Oh. Oh, okay.
Tim: You’re being tested, okay?
Tim: You’re correct about the money. You’re correct about the studying. You’re correct about what the market is doing.
Tim: And I’m very proud of you, because you’ve taken everything that I try and teach and you actually, like, know it. Like, I’m not feeding you the answers.
Steven: You don’t need to care about where market goes.
Tim: Trust me, you’re preaching to the choir here. What do you think about CNBC? Do you laugh at it when they’re… Do you even watch CNBC?
Steven: I never know CNBC.
Tim: Sorry, CNBC. I taught him, but I didn’t expect anyone to listen. You’re right. But they’re always judging, like, what’s the GDP? What’s the inflation? And it’s all a guessing game, and you don’t know where it’s gonna go so you can’t make that much money on it. But they dress it up. It’s like, you know, dress up. It’s like entertainment, you know.
Tim: At this hotel, actually, there’s cabaret. There’s, like, a 150-seat theater and there’s, like, a cabaret show. And that’s, to me, like what CNBC is.
Steven: You have to understand the most of the people, rich people, doesn’t want to teach you because everything you see, like you see on commercial, they’re trying to take your money. If you see people recommending stuff on TV, lot of people just see they are still taking your money away.
Steven: So why you think?
Tim: How did you know what I was teaching was real, then? How did you know that the challenge was, like, different and we didn’t want to just take your money, we actually wanted to teach you?
Steven: I watched some video lessons. I see. I can tell. I really like to think what people thinks. So if I hear you talk, I can kind of tell what you’re trying to say and is it real or not.
Tim: Because I don’t know. I talk a lot, you know, in case you didn’t notice. But I’m glad that, at least, someone saw.
Steven: There’s one kind of person that talk a lot and they talk so much, and it make everybody mad, but he talks real stuff. That’s one of personality.
Tim: So you can tell that this is real. You could tell from the beginning?
Steven: I can tell from the beginning, is real. I never doubted before.
Tim: That’s crazy. I wish more people. How do I get more people like you? Do you have brothers and sisters?
Steven: Actually, my brother is trading.
Tim: Okay. How’s he doing?
Steven: He’s 13, but he’s trading.
Tim: Don’t trade when you’re 13.
Steven: He does good.
Tim: He’s 13. He shouldn’t be trading. He should be living.
Steven: So he can be better than me.
Tim: Oh my God. You guys are so competitive. I get that. That’s impressive. Give me one final tip. Or actually, no, give me one mistake that you see too many people making, because now you help a lot of challenge students. So you have a good kind of, like, data set. What’s the number one mistake that you see people making?
Steven: Being emotional. I see a lot of people in challenge chat, if they lost money, they are kind of complaining. But why you are complaining when you can’t…you don’t trade when you can’t lose. So you have to be willing to lose to trade.
Tim: And, every loss helps further your education.
Tim: So I don’t look at losses as a bad thing, even though it’s tough. I agree.
Tim: Like, students get discouraged by losses. Like, “Oh, I studied so much and I lost, you know, $50 or $500.”
Steven: Five hundred bucks is, like, nothing in your life. Maybe it’s really important for a life, but…
Tim: In the grand scheme of your life it’s nothing.
Steven: In the long run, it’s nothing.
Tim: It’s nothing in the grand scheme of things. And you learn what not to do.
Tim: What’s number one tip that you have for people to do more of, that you think would make them more successful?
Steven: You have to be chill with everything. You can’t get anything in your head. You have to be super rational. If you are too eager to make money, you will not make money. Everything works the opposite way, so, of your real life. It’s literally sounds like that.
Tim: It’s counterintuitive.
Tim: So you like my lesson about, like, thinking of yourself as a retired trader, only coming out of retirement when a play is good enough.
Steven: Yes. I only trade plays that are perfect, perfect, perfect setups.
Tim: So how many times a day do you trade?
Steven: I don’t trade that much. You see that huge amount of trade on my CP account.
Steven: That’s actually a buck.
Tim: Yeah, really?
Steven: I don’t really trade that much.
Tim: So how many times a week do you trade? Like, three times, five times a week?
Steven: I trade…right now, I’m working on my scalp so I trade a little bit more, but I used to trade, like, five times a week.
Tim: Yeah. So one trade a day.
Steven: One trade a day.
Tim: Even if you had $27,000, even if you had $100,000 or $500,000.
Steven: So this the problem for people. Once they open a CP account, they think CP is so good.
Tim: It’s unlimited.
Steven: It’s unlimited. You can short everything.
Tim: With great shorting power comes great shorting responsibility.
Steven: And you can’t take that responsibility when you are not experienced enough. You will get blown away.
Steven: Like many traders do.
Steven: And when you start with your small account, with patterned data, it’s a good thing. It’s not a bad thing. I don’t understand why people are thinking…
Tim: Yeah, are you serious. Are you a robot? Are you sent for me? Are you, like, an Asian robot programmed from future Tim, sent back into the past? Because you’re saying all the same stuff that I’m thinking, and it’s kind of freaky.
Steven: It’s not a bad thing. From my perspective, I work a small to here. Then trust me, it’s not a bad thing.
Steven: It’s a good thing if you’re trying to practice. Because I only make, like, five trades a week. If you can make three trades a week, and you do, like, two trades overnight, five trades a week.
Tim: It’s more than enough.
Steven: It’s more than enough. Like, you just…
Tim: But a lot of…I think the problem is a lot of people don’t know what a perfect play looks like so they’re stabbing in the dark. You know, let me try this. Let me try this. Let me try that. And that’s how they’re trying to learn. When, in fact, if they studied the video lessons, and the webinars, and the DVDs, they would see the patterns. What do you think helps the most? The DVDs, the video lessons, or the webinars? What helped you understand what a perfect pattern is the best?
Steven: The webinar works the most. And the rest of it, have to figure out by yourself.
Steven: Because different patterns work for different people.
Steven: Because I’m right now discovering some long strategies works really well, that mid-day perk pattern, it worked.
Tim: Yeah, it’s crazy.
Steven: Almost, like, all the plays, like, I feel like people needs to be serious watching it in terms of, like, teach them how to make money.
Tim: Yeah. What do you think people should do…let’s say if they’re casually interested in the stock market, what’s the first step that they should do? Should they join my challenge right away? Should they watch a DVD? Should the…I don’t know. You tell me.
Steven: First thing, you have to understand what stock market it. And you go in, you have to pay tuition for it. So if you want to pay less tuition for it, you join something that can help you, that you won’t pay tuition to the market.
Tim: Exactly. The market, paying to the market, you lose thousands, tens of thousands, and you still don’t even know the lesson, because the market doesn’t tell you that.
Steven: Because market, you always pay more tuition to market. That’s…
Tim: Awesome. Well, congratulations, man. Seriously, thank you for everything and congrats on your success. And one final thought for everybody.
Tim: You tell me. Anything that you think. What do you think more people should think about?
Steven: Trading is a really easy stuff to do.
Tim: Don’t say that. That’s a terrible thing. Trading is not easy.
Steven: I know. I haven’t…
Tim: Last comment.
Steven: I haven’t finish yet.
Tim: Okay, okay. Sorry, keep going.
Steven: It’s really easy stuff to do if you mastered it. And if you mastered it, you can basically go from, like…you can use this skill for, like, 20 years, 50 years. It doesn’t expire. But to master it, it’s really difficult. Mastering a strategy is easy. Mastering your emotion to control your risk level, risk management is the hardest thing you have to work on.
So if you…one, you need to have a good strategy. Two, you are not craving for opportunities. You have to wait for the perfect setups. And three, you have to be willing to lose. Four, you have to control your ego. Don’t go too big. When you see the perfect setup, there’s always something go wrong, you have some rooms to add. And five, you will be successful.