Penny stocks are misunderstood by most and I’m okay with that.
Why?
Because if we were all playing on the same level how can we all make money in the market?
The truth is, most traders lose money to more skilled and prepared traders.
That’s how it should be.
I’ve been hearing a lot of noise around penny stocks lately, and to be honest, it’s awful advice.
If you catch yourself believing these things, you can kiss your chances of being my next millionaire student goodbye.
Table of Contents
Lie #1: You Have To Go All In
Eat…breathe…sleep trading.
What a bunch of baloney.
A lot of people fail in trading because they don’t have reasonable expectations.
Look, I don’t care who you are, chances of you making considerable money in year one is very slim.
That means you need to have some breathing room.
Some people go to college…put themselves in massive debt…in hopes of making money in the future to pay that off and live a good life.
They have patience for that…but when it comes to trading…they think they need to make money right away.
You need to be patient with the process.
And it’s not anything you can really rush.
Sure, you can watch all my training videos religiously…but you are still lacking screen time and real world experience.
It’s like…would you rather have a pilot who has watched 100s of hours of flying lessons and never flown…or a pilot who has flown for 100s of hours and never watched a flying lesson?
I think we all know the answer to that.
You have to commit to your education, no doubt about it, but don’t look at it as a sprint but as a marathon.
Have a backup plan, and be prepared not to make money. You want to focus on learning, if you are worried about paying the bills then you’re in trouble.
Don’t put pressure on yourself.
And once you make it…don’t be one of those traders who become slaves to their screens.
Get out, and enjoy life.
If all you do is think about trading you’ll eventually burn yourself out.
That’s why it’s important to have a life outside of trading.
For me, that’s charity.
For you it might be something different.
Trading has given me an incredible life…but it’s not my life.
You need to be serious about the time you dedicate to trading but you don’t have to be a junkie to be successful.
Lie #2: Expect Profits During Specific Time Periods
I know the other day I wrote to you and said September is historically the worst month for stocks and October is the most feared.
But that doesn’t mean it’s going to happen this year.
We’ve seen the December Santa Claus rally not come before…
In addition, we’ve heard that summer months are slow…yet this summer was awesome for trading.
Sure, you should know your history, but remember, anything can happen.
Plus, as traders, we should be focused on what we’re trading, and not what investors worry about.
Just this week, ticker symbol VTGN rallied from $2.50 to $60.
Some of my students caught that long and an amazing day.
You can make money in bear and bull markets and you can lose money in bear and bull markets.
How you trade and what you trade will decipher your results.
More Breaking News
- Astera Labs Inc: Rapid Surge—Is the Potential Worth the Risk?
- Soaring or Sinking? Examining CLSD’s Recent Market Moves and Performance
- IKT Stock on the Rise: Will Momentum Persist Amid New Developments?
Everyday is a new opportunity…and that’s how you should approach trading.
Lie #3: OTCs Died Due To New Filing Rules
In 2020 the SEC adopted amendments to enhance retail investor protections and modernize the rule governing quotations for OTC securities.
The amended rule was said to enhance disclosures and investor protection in the OTC market by ensuring that broker-dealers, in their role as professional gatekeepers to this market, do not publish quotations for an issuer’s security when current issuer information is not publicly available, subject to certain exceptions.
And while I think protecting the retail investor is very important and this rule helps them…I don’t think that takes away from trading opportunities in OTC stocks.
In fact, I have traded a handful of OTC stocks over the last few months including VPLM, HDUP, ENZC, DPLS, AITX, GDVM, and HCNWF to name a few.
To completely write off OTCs is silly…
What is old becomes new again…
It was just last year all the talking heads were calling for the death of FANG stocks…and that an entire new class of stocks would lead the market.
Whoops!
Stocks like Nvidia, Meta Platforms, Amazon, Apple, and Microsoft have led the Nasdaq to one of its hottest starts in decades.
OTCs are not dead.
You just have to be selective and patient.
You’re One Step Away From Leveling Up
You can listen to whoever you want. But let me ask you this, would you rather listen to some talking head or family member who has no skin in the game or someone like myself who has made over $7.4 million in trading profits…tell you how this game is played?
Success in trading isn’t easy…but I don’t think it’s impossible either.
I have dozens of students who have gone on to become millionaire traders themselves.
In fact, I invite you to learn from them.
That’s right, I’m personally inviting you to one of free live training classes.
Why?
Because I want you to see what successful trading looks and feels like…
You may attend one of these sessions and decide trading isn’t for you…which is okay. At least you tried to find out on your own instead of listening to someone who has no skin in the game.
On the other hand, you could attend one of these classes and find out that trading could be your ticket for a brighter future.
Either way…you owe it to yourself to find out.
⇒Click here to register for our next live training class.
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