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Yesterday was a CRAZY busy day for me as I was trading, traveling and had a 2-hour Q&A webinar with my this key software or even just witness it, use every single solid setup to try to further your education or build your account.students, but as I explained to them, when a great trade pops up, it’s your duty to try to capitalize on it, whether you take a small or big position or even if you just paper-trade it using
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And little did I know I had picked the single biggest % winner from the market open today…and so there are TONS of lessons from it.
First of all, even though I didn’t capture the biggest profit possible, I did have a sense this was a great educational moment and that’s why I sent out this video lesson at 11pm EST so that my newsletter subscribers could be FULLY prepared for today:
…and between yesterday and premarket today I had not 1, not 2, but 3 buy alerts in the high 1s so my students and I BANKED six figures today before NADL shot all the way up to the 3s today, a nice 50%+ winner in less than 24 hours…I sold wayyyyyyyyyy too early (as usual), but this is a great example of the POTENTIAL of these setups as even my selling too early still netted me roughly $2,000 in profits and as you saw in this video lesson $2k/day keeps the real job away 🙂 I also was basically breakeven on my other play today, MVIS, so you should know this isn’t an exact science and I won’t be right every time…just more times than not and that’s the key to growing an account exponentially like this over time.
…so study those videos above and see why I bought this stock in the first place and why I sold WAY too quickly…here’s my $2,000ish profit on the trade:
…and as I’ve documented, $2,000/day is good enough for me to keep the real job away so it’s kind of funny that even when I nail a stock such as this, I’m condemned to profit “just” $2,000ish…perhaps it’s something subconscious, right?
After all I’ve made videos like this:
…discussing how $500-$1,000-$2,000/day is more than enough for me, and as several people pointed out to me today, that seems to be all I’m aiming for.
Of course, the problem with that thesis is I didn’t even look at my profit-loss tab when I was selling in the low 2s last night and this morning, I only cared about executing a solid trade where I made roughly 10% that followed my rules to a T and hit my conservative goal first and foremost.
I don’t regret selling early as I’ve made a habit of exiting too soon on thousands of similar plays and yet I’ve still made millions of dollars over the years because these stocks are so volatile it doesn’t matter if you trade overly-safe and now teaching overly-safe trading I think is the ONLY way to teach as once you learn to hit singles, you can be more aggressive and learn to hit doubles, triples and even home runs like this greatstudent has, in record time:
You see I don’t get paid based on my personal trading performance, my pay, which I’m very open about and sincerely proud of, is based on the success of my students. So, I will GLADLY teach you how to trade like a coward — go ahead and look through ALL my trades and see what I mean — and while every now and then I’ll get a 30-50% winner, aka doubles, triples and home runs, I’m more than happy to “exit too soon” and take my “measly” 10-15% winners the vast majority of time and I think we need more of this Ichiro-style of trading in penny stocks as these stocks are damn volatile and scary and I know too many gunslingers who either blow up, risk blowing up or have ridiculous stress levels/health issues related to gun-slinging and I don’t want that for ANY of you.
As a reminder, my first Millionairestudent and I were BOTH short KBIO the afternoon it went from $2 to $10+ in just a few hours, an example used by many as to why you should never short sell penny stocks and yet both of us simply followed rule #1 from this list and cut our losses quickly, each losing a few thousand dollars.
Long story short: find good setups, both long and short, try to capture the meat of the move, but if ANYTHING makes you concerned or if your conservative goals get hit, reduce position or exit entirely and BE SAFE…there’s more than enough profits to be had that way and you reduce the risk of blowing up or having stress/health issues dramatically…
…and this line of thinking is why I have more Millionairestudents than anyone and why we can be fully transparent showing ALL our trades publicly because we don’t take the ridiculous risks too many gunslingers do even when, yes, in trades like this, I did exit WAY too quickly.
You tell me in the comments below, would you rather be a gunslinger or coward trader? Understand there’s no one right answer, I’m curious to see what you think!