This is YOUR YEAR!
Don’t worry about any losses you had.
Leave them all in 2022.
Right now is your chance to CHANGE EVERYTHING.
And I want to help you take your trading to the next level.
I take pride in the fact that I can teach ANYONE how to trade.
Now, I know the proof is in the pudding…
Which is why I put together 23 lessons for 2023.
These are the creme de la creme of trading tips that have had the most impact on my students.
Table of Contents
- 1 1. Dream Big. Study Hard. Get Better Every Day
- 2 2. It’s a Marathon, NOT a Sprint
- 3 3. Adjust to the Current Market Environment
- 4 4. Singles, Singles, Singles.
- 5 5. No Random Patterns
- 6 6. Maximize the 2023 Market, Whatever it Brings
- 7 7. Don’t Let Negativity or Doubters Get You Down
- 8 8. Get Inspired by my Most Successful Students’ Journeys
- 9 9. Take Breaks to Avoid Burn Out, But Don’t Give Up
- 10 10. Commit to Studying the Past
- 11 11. Boring Daily Habits Matter
- 12 12. Size Matters – Don’t Take Dumb Risks
- 13 13. Be Wary of Groups That Trade Together
- 14 14. Don’t Trade Alerts From Anyone
- 15 15. Learn From Transparent Traders, Not Screenshot Heroes
- 16 16. Use Tools Like StocksToTrade Breaking News to Get Ahead
- 17 17. Find a Process That Works For You and Keep Refining
- 18 18. Expect the Worst, and You’ll Never Be Disappointed
- 19 19. Respect History & Recessions
- 20 20. Be Open to New Strategies That Could Work
- 21 21. Trade Small or Paper Trade to Build Confidence
- 22 22. It’s Always Toughest to Start Learning and Isn’t Always Fun
- 23 23. 90% of Traders Lose Due to a Lack of Preparation
1. Dream Big. Study Hard. Get Better Every Day
Mariana’s story is one of my favorites.
She didn’t place a single real-money trade the first year. All she did was study.
Trading isn’t an easy career choice. It requires hard work.
However, anyone can get there if they put in the time and effort.
2. It’s a Marathon, NOT a Sprint
Some of my students find success in a couple of years.
Others take a decade before catching their stride.
I know everyone wants to be a millionaire tomorrow.
But that’s not how it works.
You need to put in the time and effort, mix in some patience, and only then will you succeed.
No joke, I literally named one of the new learning center’s in Bali after this concept.
3. Adjust to the Current Market Environment
Some markets are for earning and some are for learning.
The start of 2021 was an amazing time to be a trader.
Penny stocks made multi-day/week runs left and right.
2022 was MUCH slower.
Markets go through cycles.
Know where you’re at and adjust accordingly.
Take risks where appropriate and back off when the odds are stacked against you.
4. Singles, Singles, Singles.
Small wins add up over time.
But with 423 trades over the year, these tiny trades stacked together to make a healthy profit.
Even a bunch of $50 wins can add up to several thousand by the end of a year.
And for most traders, that’s a great place to start.
5. No Random Patterns
It’s worked year after year.
I use it, teach it, and trade it.
There are other patterns out there.
But I stick with the one I know.
Don’t put your money at risk until you know what you’re working with.
You won’t execute the trade well if you don’t trust the pattern.
6. Maximize the 2023 Market, Whatever it Brings
I traded through bull and bear markets, bubbles and busts.
2023 could be the start of a bull run.
But for now, it’s a bear.
I trade the market in front of me, not the one I hope for.
If you don’t see great setups, don’t force them.
Sometimes they’ll be slow to form, and you may see one a week. Other times, you’ll have to choose from several a day.
Work with what the market gives you.
7. Don’t Let Negativity or Doubters Get You Down
Emotions are a big part of trading.
You can’t help but feel anger and doubt alongside joy and confidence.
You’ll find plenty of Twitter jockeys telling you why the trade is wrong or friends who don’t support you.
Even your internal monologue will work against you from time to time.
This happens to everyone.
We all have internal doubts and people that don’t support us.
It’s the nature of the beast…and thankfully, it’s temporary.
8. Get Inspired by my Most Successful Students’ Journeys
- Mariana, my youngest and first female millionaire student.
- Jack Kellogg, a valet turned multi-millionaire
- Paul Delgado’s turnaround story
- How Karan Khanna unstuck his trading
9. Take Breaks to Avoid Burn Out, But Don’t Give Up
It’s easy to get into trading.
I mean, REALLY into trading.
Especially when there are thousands of hours of videos and articles to read.
And there are times when you just get frustrated and need a break.
Not only should you step away from the screens, I want you to take a step back.
You can’t lose sight of why we trade.
Trading is fun. But it’s a means to live our lives on our terms.
I used trading to start a charity that builds schools in impoverished parts of the world.
That’s what keeps us going.
Don’t lose sight of it.
10. Commit to Studying the Past
I like to tell my students that I’m a history teacher.
History repeats itself over and over.
Bubbles expand and burst.
Economies thrive and crash.
If you want to learn about the future, study the past.
11. Boring Daily Habits Matter
My trading style isn’t exciting.
But it’s consistent.
I couldn’t achieve those results without my routines.
Every day, every trade, I practice patience for the setup to come to me and impatience for trades that don’t work.
When you make trading mechanical, you make it consistent.
12. Size Matters – Don’t Take Dumb Risks
Most traders don’t blow up their accounts over time. They do it in one or two trades.
Avoid these outsized losses.
Focus on sizing your position correctly. Don’t go for home runs every time.
13. Be Wary of Groups That Trade Together
Chat rooms are a great place to learn and collaborate.
But don’t confuse that with folks that trade together.
It creates conditions just like promoters, getting everyone moving in one direction before the rug gets pulled.
Group think creates bubbles. And if you’re the last one in, you’ll be left holding the bag.
14. Don’t Trade Alerts From Anyone
Trade alerts are meant to help you follow along. Don’t use them to take trades.
I can tell you from experience that anyone who tries to trade another person’s trade alerts, no matter how good, won’t develop sustainable profits.
Little differences from the position size to the execution time create differences that add up.
Instead, use the trade alerts to see how someone thinks and whether it matches what you expected.
15. Learn From Transparent Traders, Not Screenshot Heroes
Most folks on Twitter only post their winners.
No one is that good.
If someone says they are, they need to prove it.
I don’t claim to be the best trader in the world. But I am a good trader and a great mentor.
16. Use Tools Like StocksToTrade Breaking News to Get Ahead
There was a time when I used to have Gmail set up to receive alerts quickly.
Plus, I followed dozens of Twitter accounts.
I don’t have to spend hours scouring the internet.
All the major stock-moving headlines are right there for me to see.
17. Find a Process That Works For You and Keep Refining
All it takes is one pattern and one setup to become a profitable trader.
Get really good at just one of these. Understand it inside and out.
Only then do you move on and add another setup.
18. Expect the Worst, and You’ll Never Be Disappointed
I like penny stocks because I know they’ll all eventually fail.
Large-cap companies can go years before they drop a bombshell.
I prefer to know and expect manipulation.
That way, I can design a strategy that works with promoters, not against them.
19. Respect History & Recessions
The most dangerous words a trader can ever utter…
This time will be different.
When the pandemic hit in 2020 and stocks crashed, penny stocks weren’t spared one bit.
Realize that while they normally march to their own beat, they don’t always.
History tells us what to expect when crashes and melt-ups happen.
Study and learn from them.
20. Be Open to New Strategies That Could Work
It makes it that much harder to accept what I teach.
I’m not saying what you know is wrong.
But if you haven’t found a way to consistently profit, you need to open yourself up to new strategies.
21. Trade Small or Paper Trade to Build Confidence
Everyone thinks they need to go full bore right out of the gate.
In fact, you can spend little to no money on each trade as you learn a strategy.
I actually encourage students to do this.
Building up confidence takes time and patience, especially when you have years of struggle to overcome.
22. It’s Always Toughest to Start Learning and Isn’t Always Fun
Hard work and study aren’t always fun, but they’re necessary.
If you put in the time and effort, you will see results.
But be realistic. It won’t always be easy or enjoyable at first.
That’s why you have to stick with it to get to the good stuff.
23. 90% of Traders Lose Due to a Lack of Preparation
Doctors study for years before they become residents and then several more years before they become doctors.
When they finally take a patient, they do a lot of legwork before making a diagnosis.
Preparation means having a plan before the market opens.
It means practicing those boring habits so that your decisions are automatic when a trade comes around.
Executing a trade is the last step in the process, never the first.
Create a plan, study the patterns, and practice execution.
That’s how you develop profitable and sustainable trading.