The Hardest Thing To Do As A Trader

By Timothy Sykes

Last updated on September 9, 2022
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Most people get into trading because they believe it offers them a chance at financial freedom.

For some, financial freedom means spending more time with the family, providing for them, and showing them a good life.

For others, it means having nice cars and homes, going on vacations, and dining at fancy restaurants.

Whatever your goal is, I commend you for striving to do better.

Some people never have the guts to try and remain stuck complaining about their circumstances.

And while I’ve taught a framework that has helped dozens of people become millionaires…

I can tell you this…

Achieving greatness in the stock market isn’t about:

  • Knowing the right strategies
  • Having the best tools
  • Joining a strong network

While all those are important, there’s something else that trumps it.

It’s the main reason why some traders go on to become millionaires, and others end up quitting before they reach their potential.

The Right Framework Isn’t Enough

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Two of my top students have achieved 8-figures in trading profits. I don’t know anyone else who mentors that has produced more millionaires than me.

If that isn’t proof that my framework works, I don’t know what is…

But why do some go on to achieve extraordinary results while others fail?

After all, I’ve been teaching the same strategies and techniques for years.

It boils down to one thing: Discipline. 

Learning the strategies is easy…it just requires you to invest time.

However, most folks want instant results, which forces them to make poor decisions that eventually take them out of the game.

It’s why they:

  • Force bad trade setups
  • Hesitate on good entries
  • Chase stocks due to FOMO
  • Don’t trade with a plan
  • Talk themselves into bad trades and out of good ones

So how do you overcome this and become a disciplined trader?

Become A Specialist

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There are dozens of ways to make money in the stock market. For example, one of my students, Mark Croock, makes most of his money trading options. While Matt Monaco, a 24 year-old millionaire student of mine, has found great success trading cryptos.

However, I’ve found that trading OTC stocks have led me to my best results.

The first thing you must do is figure out what will work for you. And that takes some time.

But once you have, then it’s all about becoming a specialist.

So many newbie traders get shiny object syndrome, going from one strategy to another, and never mastering any.

You don’t see NFL running backs trying to switch their positions to defensive ends or cornerbacks. It just doesn’t happen.

Find the position you want to play, and try to be the best.

Discipline Is Easier When You’re A Specialist

Trying to be a jack of all trades in the stock market is dumb.

Why?

Because you’re competing with specialists.

I’ve had success trading penny stocks because I’ve dedicated hours to mastering them. Throw me into the world of options, and suddenly, I’m below average.

I know where my lane is, and I stay in it.

Master Your Playbook

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Because I focus on OTC penny stocks, I can work and develop strategies that make me better in this area of trading.

Trading is simple for me. Because at this stage of my career, I’ve mastered a handful of setups that I know consistently make me money over time.

If you know what makes you money consistently…would you go to those strategies over and over again…or would you rather try something you’re not good at and try your luck?

I can stay disciplined because I’ve defined the type of stocks I like to trade and the setups I want to play them with.

Everyday Is Different

Some trading days are filled with non-stop action…while others are a complete snooze fest. Turning on your trading platform doesn’t mean you have to trade.

Once you know what to look for, sitting on your hands becomes easier. If the action I look for isn’t there…I don’t look to find something else to trade.

You don’t get rewarded for your activity. Trading is about maximizing your opportunities. That’s why some traders can make a good living by nailing one or two good trades each month and preserving capital the rest of the time.

Review Your Best Setups

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It’s always good to review your best trades and setups. Not only does this give you confidence, but it also reinforces your strengths.

That’s why you should always dedicate some time after each trading day to review. This practice will help you avoid “style drifting” and force you to be more disciplined.

Bottom Line

What separates success from failure in trading isn’t a strategy, the size of your trading account, or having a magic indicator.

It boils down to discipline.

The best way I’ve discovered to stay disciplined is by becoming a specialist and mastering that domain.

If you’d like to learn about the framework I’ve developed to help ordinary folks become millionaires, then CLICK HERE.

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Comments (1)
Author imageTimothy 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 Trading 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 30 Day Bootcamp, it will teach you everything you need to know about trading.

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