Did you know that 90% of traders fail when it comes to trading?
It’s a harsh reality, and it bothers me to see so many traders fail due to avoidable mistakes…
So what sets my millionaire students apart from the rest?
Luck? Far from it…
They put forth the time and effort to fully understand what truly matters.
Trading isn’t a sprint; it’s a marathon…
So if you want to know what they did that put them in the 10% of traders who ended up succeeding…
Here are the four trading rules they mastered.
Be Patient
Do you want to make a lot of money in the stock market?
Let me tell you, it’s not going to come that quick…
And it’s not going to be easy.
You need to understand how significant patience really is.
In this market, minutes could make all the difference…
And if you’re not ready before the market opens, that could be extremely difficult for you to take advantage of all of these opportunities we’re seeing every single day.
When I trade, I’m looking for that perfect opportunity…
This is why I typically focus on those early morning panics.
Last week, I demonstrated how devastating not being patient can really be…
I was simply suffering from FOMO and was chasing after a stock earlier than I should’ve…
So before you make your next trade, be patient and wait for that perfect opportunity…
And be sure to review your trades ahead of time and remind yourself to focus on what’s actually working in this market.
Manage Your Risk
If I lose a few trades in a row, I don’t try and risk more than I should just to make it back…
I play small ball and continue to chip away.
I know my strategy works, and the only reason I’m still trading today is because I’ve learned to put safety first.
My #1 rule is to cut losses quickly, and I remind my students of this rule time and time again.
Way too often I see newbies get frustrated because they hold onto a trade longer than they should…
Or they go all in.
They simply think these stocks have to go higher, but let me remind you, these are some of the crappiest companies out there and most of them do fail.
You will have your ups and downs throughout your journey…
You’re not going to nail every trade, but if you manage to cut losses quickly, there is always a chance for you to turn it around instead of blowing up your whole account.
I had one of my biggest losses back in May, wiping out nearly my entire yearly profits…
And this is how quickly any of us blow up our entire account within a day.
Even though I risked way too much on my trade, I managed to cut my losses quickly, which prevented me from digging myself a deeper hole…
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But since then I’ve been able to make over $34,000 to wipe away my big loss simply by managing my risk better and focusing on the setups that matter.
Be Disciplined
Every single one of my students who went on to become millionaires had one thing in common…
Discipline.
You don’t need to be a rocket scientist in order to understand how trading works…
And when most of my millionaire students first started they didn’t have a clue where to start!
What my students did differently compared to others was they had the discipline to study the material every chance they got…
And came to tackle every trading day with a plan.
Time and time again I remind students they need to be on the lookout for big percent gainers…
Yet, many still refuse to take my advice and go with what they’re hearing on CNBC or following other traders on the web.
What most traders don’t realize is that those individuals on CNBC, or Twitter, are usually trading with a significantly larger account than you…
And their strategy is completely different.
So following their every move isn’t going to help you…
What will help you is focusing on the strategies I share with you because my trading strategy is geared towards those with a small trading account.
Take Advantage Of The Resources
I never had anyone show me the ropes when I started trading…
There was no one I could ask questions to…
Had no idea what strategies worked the best…
How much I should be risking on a trade…
I had to figure out everything by myself.
The only thing that helped me continue on this journey was the fact I was determined to succeed.
Failure wasn’t an option…
And I’m not someone who calls it quits quite that easily.
Every day I post my trades and comment on what I’m seeing to help you better understand what’s going on in the market….
Plus we offer FREE trading sessions to help you learn more about this market and how to focus on the best setups possible.
If you want to succeed in this market, you need to keep studying, stay disciplined, and understand what you’re risking before you trade…
And be sure to take advantage of all of these resources that are out there to make sure you’re focusing on the best setups possible.
I’ll see you in chat.
-Tim
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