Imagine for a moment…
You wake up…scroll through a list of stocks and within a few hours…
You’ve just banked a year’s salary in a single day.
Sounds too good to be true, right?
It might seem for some…but I can tell you it’s happened to me many times. (Results not typical)
And you know what else?
It wasn’t an accident, either.
In fact, if you want to put yourself in a position to succeed each trading day…doing this is non-negotiable.
Especially since we’ve entered a bull market.
Table of Contents
What’s Your Excuse?
If you speak to most traders who aren’t making money, they’ll usually shower you with dozen reasons why…
- I don’t have time
- I don’t have money
- I don’t have the knowledge
- I don’t have the experience
- I don’t have the intelligence
The difference is, they didn’t let excuses stand in their way.
Look, I can sit here and make excuses too…
I have a crazy travel schedule, and charity and mentoring are taking time away from my trading…I might not have a good wifi connection to trade…blah…blah…blah.
But you know what?
Regardless of where I am and how sleep-deprived I feel… some things are simply non-negotiable.
#1 STUDY STUDY STUDY
For example, I still review my trades and analyze them to death.
I want to constantly remind myself of what I’m doing right and wrong and what areas of my trading I need to adjust.
But I STILL review.
First, I want to put myself in the best possible position to win. Knowing what’s working well makes me more confident with my trading.
You can have all the skills and trading knowledge in the world…but if you lack confidence in your decision-making, you will likely not succeed.
Second, what kind of example would I be setting for my students if I told them that studying is ESSENTIAL to their success…and then I go and not study.
Unlike most of the clowns in my industry…I prefer transparency.
Moreover, I want to lead from the front.
That’s why I spent almost a week reviewing my horrendous $27K loss.
I could have swept the trade under the rug and not mentioned it to anyone. The trade happened so fast that I never got a chance to alert my subscribers.
In other words, no one would have known about it if I didn’t mention it.
But losses are a part of trading.
And as much as you probably don’t want to hear this… you will probably suffer some big losses along your trading journey.
As your mentor, I want to help you avoid some of those mistakes. I talk about my losses openly because I’d rather you learn from them than lose your hard-earned money.
#2 Be Ready For Some Action
Now that we’ve entered a bull market, I expect to see A LOT more trading opportunities.
You will miss it if you’re not prepared.
That’s why putting together a morning watchlist is non-negotiable for me.
Tens of thousands of stocks are in the market when you include OTC names.
If you don’t narrow your focus, you’ll simply be lost.
In addition to listing the stocks I’m watching, I also leave notes for myself on why I’m watching and the setup I’d like to see in order for me to trade them.
For example, here’s what I sent them yesterday:
IDEX, CYXT, GEGI are the lowest-priced spikers I watch every day…GEGI, I was dead on earlier this week but didn’t have the patience to hold for the multiday run, CYXT I just took a single as bankrupt companies are scary to hold for too long, and IDEX, I’m waiting for a big intraday panic, ideally near the market open, to dip buy into.
LEJU, WLDS, MGOL, and AHI are some recent spikers I’m still watching every day for potential dip buys into morning panics or morning spikes with big volume and news…no rush on any of them as they are all very choppy and can do financings is seems that will really tank these plays, but if the right news/pattern comes along they can still spike so watch them.
Important note: JUST BECAUSE I PUT A STOCK ON MY WATCHLIST DOESN’T MEAN I HAVE TO TRADE IT OR WILL.
Again the watchlist is put together is there to help me get organized.
Overall, the watchlist is pretty simple, but it’s also very powerful.
For example, I ended up taking a trade from the watchlist yesterday. It was in the ticker symbol AHI.
A quick 10% gainer…I’ll take that any day of the week.
And believe me, if you stack enough small wins…you’ll be surprised at how it can grow.
Look, we are about to enter some exciting times.
If you are not prepared to capitalize on this seemingly-about-to-get-insane $DIA $SPY $QQQ bull market, realize that you are likely missing out on one of the greatest times in the history of the world thx to the #AIRevolution so get in my https://t.co/occ8wKmlgm AND STUDY HARD!
Those traders who put in the work and continue to put in the work are likely the ones who will reap the rewards.
There’s a lot that you can do…but at the very least, you have to commit to your daily study and watchlist preparation.