I’ve seen it all over two decades of trading…
I’ve racked up $7.5 million in trading profits during that stretch and counting.
And let me be clear: The journey to becoming one of my 30+ millionaire students isn’t just about mastering trades…
It’s about sidestepping the pitfalls that snag most traders.
I’ve identified five major missteps that newbie traders consistently make.
But I don’t just want to highlight these problems, I also want to show you how to avoid them.
If you’re struggling or think you should be doing better, this is for you.
Table of Contents
Lesson #1: Set Realistic Expectations
No one ever steps into a Brazilian JuJitsu class for the first time and expects to earn their black belt within the first week.
Or watch an F1 race on TV and think they can compete with Max Verstappen.
However, when it comes to trading, people have the wildest expectations.
They hear about all these fake traders on Twitter who only post their wins, delete their losing trades, or never mention them.
It gives people the false impression that trading is easy, and that if you’re not profitable right away there’s something wrong with you.
Let me tell you something.
I know there are a lot of people on social media bragging about how great they are at trading and how easy their “system” is to follow…
But where are their success stories?
Do they have +30 millionaire students?
From being in the trenches both as a trader and a mentor– trading isn’t that simple.
If it was, it wouldn’t be as lucrative as it is.
That said, my most successful students took years before they started making life-changing money.
And that’s what I tell people.
I don’t think you need a fancy degree or be a genius to succeed at trading.
But you do need to log in the reps, and it will take time and patience.
Most folks want results immediately… their lack of patience gets the best of them, and they lose money.
Lesson #2: Focus On Developing One Strategy At A Time
There are so many ways to make and lose money in trading.
Some people are excellent options traders. Others focus on swing trading, trading catalysts, and whatnot.
But like I said earlier, you don’t want to try to do too much in the beginning.
Even today, I still focus on trading just a couple of setups.
I still primarily trade penny stocks.
You won’t see me trading options, crypto, or large-cap stocks.
I stick to what I’m good at.
Try to learn one strategy at a time. If it fits your risk profile and personality, then master it.
Some folks prefer buying breakouts vs. dip buying. Both can be profitable if you know what you’re doing.
Lesson #3: $STUDY
You’ll never know what your strengths and weaknesses are unless you review your trades and journal.
I still do it after all these years.
It helps me identify the best patterns, where I’m finding success, and what I should avoid.
If you’re a newbie, you should also study trades from other successful traders.
Don’t copy their trades.
But try to understand what they’re doing. Again, just because someone makes money with a strategy doesn’t mean you should be doing it too…if it doesn’t fit your personality, then you should forget it.
Lesson #4: Don’t Compare Your Chapter 1 to Someone Else’s Chapter 11
You may have a friend who started trading at the same time you did. And you find out they are doing better than you.
Don’t feel like you should be scaling up because they are.
We are all running our own race.
You’re exactly where you need to be.
Work on your game and develop your skills.
They say comparison is the thief of joy…and I believe it.
The cool thing about trading is it’s not like sports, where your timeline is limited.
You can trade well into your 90s if you wish…
The other thing is, that success doesn’t move in a straight line.
In other words, your results can be exponential if you build enough momentum.
Lesson #5: Focus On Risk Management First
Everyone loves thinking about how much money they will make in trading…
That’s why most people who try trading lose money.
If they only focused on risk management, they would have a better shot at beating the odds.
My results are not usual…but I can tell you this…I’m far from being a top trader.
What I do better than most is focus on risk management.
My number one trading rule is to cut losses quickly.
In the early stages of your journey, you want to rack up as much experience as possible.
That means you have to survive.
The best way to survive is by keeping your losses small.
Taking The Next Step
If most people who try to trade lose money, does it make sense to follow most people?
On the other hand, my team and I have discovered a process that’s produced uncommon results
What are we doing so differently that most traders aren’t?
Instead of telling you…
I want you to see for yourself.
Every day, we are hosting live training classes.
Are you ready to see what leveling up feels like?
CLICK HERE TO JOIN OUR NEXT LIVE TRAINING
Every trading day is an opportunity. Make the most of it. Dive deep, learn more, and level up your game.
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