Millionaire Mentor Update: Coronavirus Lockdown

The U.S. is going into coronavirus lockdown. And now the EU announced a 30-day ban on all but essential travel.

Market volatility is still very high. The entire market got halted after one second today when the level 1 circuit breaker (7%) got triggered.

The Dow opened roughly 8.5% down. The S&P 500 and the Nasdaq both dropped more than 7% at the open.

On Friday I didn’t take any trades — I’ll talk more about that in the trading lesson of the week. There was a nice bounce at the end of the week. President Trump paraded the CEOs of many big companies at his press conference. And the markets loved it.

But then the Fed decided to cut rates again on Sunday. The markets didn’t like the signal that move sent. Read more about my thoughts on coronavirus crashing the market here. Also, watch the video later in this post about how to stay safe during the coronavirus pandemic.

Now for some annoying news I dealt with over the weekend…

My Social Media Accounts Got Hacked

© 2020 Millionaire Media, LLC

On March 14, my Instagram, Twitter, and Facebook accounts got hacked. This is important, so pay attention. The hackers were running a bitcoin/crypto pool scam.

Thanks to students and followers who gave the heads up. It’s really sad. In these uncertain times of worry and panic, there are scumbags who take advantage of people.

Important Notice: I Don’t Manage Other People’s Money

I’m a teacher first. I won’t place trades or invest for you. I don’t manage other people’s money or offer investments. EVER.

If someone promises you an overnight fortune — beware! It doesn’t matter if it’s crypto, options, or any other investing/trading vehicle. This weekend the hacker promised you could double your money in 24 hours with no risk.

You can never double your money with no risk. There’s always risk.

With the strategies I teach, you can double your money… but there’s risk. And very rarely do I make 100% on a play. Most of the time I make 5%–10%. For me, a home run is usually 20%–30%. The key is learning how NOT to take big risks and risk big losses.

Also, I will never reach out to you through direct or private messaging to ask for money. Or to offer you an investment opportunity.

If you’re contacted by someone claiming to be me — please contact my team. They’ll get the hackers or fake accounts shut down.

Most importantly, stay safe. I teach strategies that you can use, over time, to build a small account. But it takes hard work and dedication. There’s no such thing as overnight success in the stock market.

How to Avoid Scammers

Education is the best defense against scammers. You’ll never be able to stop all scammers or weed them out. It’s a lost cause to try. So education is key. Know what scams look like and question everything.

Whatever you do, never send bitcoin to anybody who offers something too good to be true. If it seems too good to be true, it is.  

Now, let’s check out the…

Trading Lesson of the Week

© 2020 Millionaire Media, LLC

Last week I finished up $4,759** on the week even though I took an unfortunate loss on Cocrystal Pharma, Inc. (NASDAQ: COCP). On that trade, I bought the exact minute the company announced an offering. I cut losses quickly but lost $2,250 on the trade.

Here’s the thing…

I’d take that trade again. Why? Because coronavirus stocks are hot. COCP was spiking on big volume and looked like it would close strong. When it dropped, I followed rule #1: cut losses quickly. Overall, it was a good week of trading. That was my only loss.

But I want to focus on Friday. Some newbie students asked why I didn’t take a trade. Which is why I want to reiterate one of my most important personal rules (I trade with these rules)…

(**Please note: my results are not typical. I’ve spent years developing exceptional skills and knowledge. Always remember trading is risky. Never risk more than you can afford.) 

Sometimes the Best Trade Is No Trade

I didn’t see a setup good enough for me to come out of retirement for the day. When that happens, I choose discipline and patience over trying to force a trade. Too many people force trades instead of being meticulous.

You don’t have to trade every day. If you feel like you need to trade — take a step back. Frankly, I have a problem with overtrading if it’s too easy or if I have an open schedule.

So I limit myself to the best setups at the best times. For me, the best times to trade are the first and last hours of the day. That’s not to say I don’t trade other times, but the setup has to be so good I’d feel guilty not trading.

Let’s move on to…

Questions From Students

Before I answer student questions, please watch this video explaining my thoughts on…

How to Stay Safe During the Coronavirus Pandemic

Now to the questions…

“Tim, a lot of people are worried about their retirement portfolios. What should we learn from this crazy market and the coronavirus lockdown?”

You have to understand that the economy and stocks move in waves. You can only have an up wave for so long. What follows the up wave? An inevitable down wave. That involves overall economies on a global scale and individual companies, too.

That brings up the question of…

Timing the Market

I do think that you can time the market. Not every day and it’s not a perfect science. I’ve been too conservative the past two or three years, thinking the bull market was done. But even though I underestimated everything, I didn’t get more aggressive. The more wrong I was about how far the market could go, the safer I got.

It’s not an exact science … You can’t predict how high something will go or how low it will go. But if you understand that things move in waves and it’s good to take profits into strength…

… you can learn to do well in the markets. And in life.

“Tim, what steps should we take now with the coronavirus lockdown and a bear market?”

With the virus out there you gotta stay safe and stay indoors.

But there’s a silver lining to this: it gives you more time. 

Over the next couple of weeks, you’ll be spending more time at home. So when you get tired of playing board games and watching Netflix…

… study. Watch all my videos.

When you watch all the video lessons, you’ll start to see my mindset. Some people say, “I don’t need a good mindset, I only need hot picks.” 

Wrong. You need the right mindset and you need to follow rules. If you don’t — even if you make a lot of money at first — you’ll lose in the long run.

What’s the Right Mindset?

Be meticulous. Study stock market history. Learn to cut losses fast and learn from every trade. Again, this isn’t rocket science. But you have to become a student of trading and the stock market.

The learning and improving never ends for all my top students. Kyle Williams posts a trading recap on his Profit.ly page every month. He goes over each week and talks about what he learned from his trades.

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Now Jack Kellogg has started doing the same thing. Tim Grittani is the best penny stock trader in the world, and he still talks about what he’s doing to improve. 

Study. Learn from history and then set the intention to learn from every trade — good and bad. Not from profit or loss — but from how well you trade. 

What to Do If You’re Just Getting Started

Here’s a quick list of resources if you’re new to penny stocks and/or you found me because of the coronavirus lockdown.

And if you’re ready to study harder than you’ve ever studied, consider…

The Trading Challenge

© 2020 Millionaire Media, LLC

The Trading Challenge is my most comprehensive, full-immersion course.

It’s an investment of time and effort that requires dedication. Not everyone gets accepted. Many who do are surprised — even after a comprehensive interview —  when I say watch everything. Every one of the more than 6,000 video lessons. All of the archived webinars. Every hour of every DVD.

But those who do … over time … with patience and dedication … build the knowledge account needed to build a trading account. Do you have what it takes?

Millionaire Mentor Market Wrap

Stay safe during the coronavirus lockdown. This isn’t going away any time soon. There are too many stubborn people who won’t follow the advice to stay home. All you can do is try.

Use the time to study. It’s a perfect time to set yourself up for when this blows over in a few weeks or months.

Finally, my thoughts and prayers go out to anyone infected or with family members who’ve been infected.

What do you think of the coronavirus lockdown? How will you spend this extra time with social distancing and no sports? Let me know in the comments below — I love to hear from all my readers!

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