8 Ways To Spot More Trading Opportunities - Timothy Sykes

8 Ways To Spot More Trading Opportunities

URGENT: 2 days left on this special

Having the patience to wait for truly great setups like these is a skill you can learn, but have you ever noticed that some traders seem to spot trading opportunities with no problem, while others struggle to get ahead?

Download the key points of this post as PDF.

No, it’s not just a matter of good (or bad) luck. There’s a direct correlation between a trader’s attitude and conduct and the volume and quality of opportunities that they capitalize on. These are 8 easy ways to spot the best trading opportunities.

1. Have a sense of direction. Do you know what you’re working toward as a trader? If not, you need to get some clarity and fast. If your sole goal is to make money, but you have no focus on how much you want to make or why you want it, your career will be similarly aimless. By taking the time to get very clear on what it is that you want from your career as a trader, you’ll give yourself direction. This allows you to make a very clear upward trajectory toward what you want. When you have this type of focus, you’ll be more motivated in your work, and this can open doors for you.

2. #squadgoals. Do you consider yourself more of a lone wolf? Even if that’s your style socially, it isn’t going to create many opportunities for you in business. To find success as a trader, one of the best things you can do is surround yourself with a great group of peers. My trading challenge offers a great initial network of peers, who are similar-minded and probably have similar goals. The value of having a crew like this cannot be overlooked. Not only does it give you a sense of community and make you feel as if you fit in, but you also feel like you’re in it together. You’ll have people to share your ups and downs with, and to help inspire each other. And as your careers develop, it can create trading opportunities for you…that’s why this is the best stock trading chatroom.

3. Network. Business opportunities are all about relationships. In addition to making friends with your peers, also branch out and try to create a professional network. This can be made up of other traders, as well as business people in other sectors. You never know when an opportunity might arise as the result of a professional relationship you’ve forged…and I have several Millionaire trading challenge students thanks to the hard work of so many people I’ve met along the way who now help me teach too!

4. Get yourself a mentor. As a targeted extension of networking, make all efforts to find a mentor. Not only will this help your career advance far faster than if you don’t have a mentor, but it can also create opportunities. Think of it this way. Not only has your mentor’s longer-than-yours career taught them a lot about trading and business that they can share with you. But it has also led them to meet many different individuals through their time. They have forged hard-fought lessons and rules and created a network like I have over the years. While working with them, they may see opportunities that warrant an introduction. This type of networking is powerful, and can open many doors for you…and my goal for my trading challenge students is to be the mentor to you that I never had because I learned everything the hard way on my own and while I’ve been successful, I’ve made so many boneheaded mistakes over the years it makes me sick.

5. Be reliable. When you say that you’re going to do something, do you follow through? Not just once, but every time? If so, you’re planting seeds for future business opportunities…it’s amazing how many flakes I’ve met and talked with over the years and when someone flakes on me now I just cut them off as I’ve heard every excuse in the books and life is to short to deal with that BS.

It might not seem like a big deal to flake out on a meeting, arrive late to a function, or not totally complete something you said you would. And on the one level, it’s not a big deal. It happens on occasion to everyone. However, when you slip into the mindset that this is acceptable, it has a ripple effect over time. You’ll get a reputation for being unreliable, and people will not want to work with you. Once you have a reputation like this, it’s hard to erase it. So do your future self a favor and meet your responsibilities and be reliable.

6. Be willing to do what others aren’t. If you want to become successful and create new opportunities, gain a reputation for being willing to do what others are not. As a trader, there are plenty of undesirable tasks that are irritating and might seem easy to slough off on. For instance, researching companies before making a trade, or keeping a log of your successes so that you can streamline your process and make money more easily next time. Plenty of people are too lazy or unwilling to do things like this. Be the one who is willing to put in the time and effort, and over time, it will not go unnoticed. Not only will this make you a better trader, but people will see your willingness to do what needs to be done, and the opportunities will come knocking.

7. Take responsibility for your actions. Do not blame circumstances or other people for things that go wrong. Do not blame them for your shortcomings, your mistakes, or your bad judgment. If you do, you won’t succeed in the Tim Sykes Millionaire Challenge, and you won’t succeed as a trader.

As a trader, you will probably make a bad call every now and again. It is inevitable, because you need to make many judgment calls on the fly and there are a lot of variables. You can’t get things right all of the time.

Good traders know this, and they are able (after much practice) to roll with the punches. If you are continually blaming external factors for things that go wrong, you’re not going to get very far. Own your actions, both the good ones and the bad ones. People will see your integrity and gravitate toward you.

8. Be tenacious, but be kind. Keep going, no matter what. Don’t apologize for your dreams, or your desire to get ahead. Be relentless in pursuing those things. But never at the cost of hurting others. Do things the right way, stick with it, and be kind to everyone along the way. You’ll be amazed at how many opportunities will come your way.

As a trader, you are responsible for planting the seeds of opportunity through your actions, attitude, work ethic, and overall conduct. So how do you choose to conduct yourself as you advance in your career? By following these guidelines, you’ll begin to create trading opportunities far more regularly.

Please do leave a comment and tell me which one of these points resonates the most with you? It could be more than one, but hopefully after you’ve finished reading this blog post, I’ve gotten my point across!

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44 comments

Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

  1. Natalie

    Be willing to do what others aren’t is what resonates most with me. Study hard, and spend extra time researching and logging trades… it seems many people are just not putting in the time or spending time in the best way.

  2. Jeff Weaver

    All of these points Tim, Nailed it. I applies these practices to my Real Estate career and its no different when being a trader. Success always leaves clues along the way, you just have to identify the clues.

  3. Eric

    Be tenacious , reliable , conscientious, able to stick to a routine, friendly, and most of all FOCUSED!! … Everyone likes to be a rebel, not respect authority abd follow the rules .. I’m sorry to say that society frowns on extreme rule breakers … If you follow no rules, you can end up in prision or without a sense of direction .. Rules provide structure abd direction , help you grow as a person and help you become a better trader .. So follow the damn rules!! Keep on keeping on and you will be successful

  4. Brandon

    Be tenacious, but be kind.

    This resonates the most to me because I believe that it’s a strong and positive mindset that brings success.

  5. Joey Joffrion

    Be willing to do what others will not resonates the most with me. I’ve used this to accomplish many goals in my life and I’m glad it applies to my success here as a challenge student as well. Thanks Tim. Looking forward to the next year of success with your team!

  6. Anonymous

    All these points resonates with me. One of my goals besides financial freedom is to embrace these points. Not easy but hard work should pay off!

  7. Edit

    I appreciate the opportunity and will make all efforts to find mentors during my studies and build my network. Although I will study hard, stay focused and take responsibility for my actions, I do realize that having a mentor and a good network will help a lot in becoming successful.

  8. Hanan Vaytzman

    I don’t have a specific one because I can find myself relates to every point you mention here.
    I leave in a sea full of haters for what I do and I can honestly say that ever since I joined the profit.ly community I feel that I now have the support I need to overcome the many challenges of trading. I used to trade in a lot of chat room in my country but now I understand that I have never felt fully transparent as I feel in the profit.ly community.
    Thanks for the blog post! Great motivation to start the day with.

  9. Magalie

    Be willing to read a lot! Research, research, research before making a trade. Don’t be greedy, take small profit, stay focus and stick with it. Keep a journal of your success and network.

  10. Poppy More

    Morning,

    The points that resonates the most for me is point, 1& 5 to 8. These are tools to know the purpose of my potential & to share it with others.

  11. Montse

    THANKS TIM!! I love the article!! Much more like this please, that help me to learn and to grow in knowledge and wisdom, financially and personally.

  12. Tim Vaughn

    Thank you Tim. These are all great points to not just trade and work by, but to live by. All adds up to being dedicated to what you have chosen to do, and then striving to be the best you can possibly be, all while remaining kind and humble.

  13. Jay

    Taking responsibility for your actions is what resonates with me. I believe that is the backbone to many of the other points discussed like focus, reliability, and tenacity. In my experience it’s rare to find someone who is focused, reliable, and tenacious without being able to take responsibility for themselves and their actions

  14. Curt Parker, Coach P

    Tim,
    So many of these resonated with me, especially doing what you say, punctuality, broadening my borders, and setting my daily goals and tracking them. Also, as you’ve probably already concurred, as an educator and Master-teacher and trainer, I utilized many quotes. Here’s one of my all time favorites by one of my role models, the amazing ‘Wizard of Westwood’, the one and only Coach John Wooden.
    “Ability might get you to the top, but it takes character to keep you there.” – John Wooden
    ALSO… “Strive not to be a success, but rather to be of value.” – Albert Einstein
    I love the fact that you,”give back”, so freely, and I am beyond excited to become your learnered student!
    Warmest Regards,
    Curt, Coach P

  15. Arthur Eminovski

    These tenents not only apply to work or trading Tim but to life itself. I know I’ve learned the hard way.Everything you said you be followed to a tee.Best of luck.Athur

  16. Carl

    What resonates with me is that one has to be willing to do what no one else wants to do… go the extra mile!! Excellent

  17. tourlifedave

    This is one of the best advice blog posts I’ve seen from you Tim!

    5. BE RELIABLE!

    I lived in Las Vegas for 10 years and the city is FULL of flakes. I “lost” so many friendships because I didn’t like putting up with them. I don’t ever want to fall victim to that type of mindset!

  18. Ruben

    “Keep going, no matter what. Don’t apologize for your dreams, or your desire to get ahead. Be relentless in pursuing those things. But never at the cost of hurting others. Do things the right way, stick with it, and be kind to everyone along the way. ” I know you wrote this in the blog post (obviously) but I had to copy it since it resonated with me the most. I truly believe these are words to live by. Also learning to roll with the punches and treating mistakes as learning opportunities for the next trade.

  19. Awais

    Hey Tim please could you advise where to begin when it comes to learning penny stocks? I will study and put in the hours just done knoe where to begin.

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