My lawyers hate it when I use headlines like that. So read the disclaimer. Most traders lose money. But the reason I used that headline is because it’s true!
Mason Fecht wanted to quit. As a Trading Challenge student, he didn’t have success right away. He didn’t make any money for several months. Then I got this message from him telling me he was closing in on $150K in profit in two months.
Download the key points of this post as PDF.
But it gets better …
Table of Contents
- 1 Mason’s Trading Journey
- 2 Useful Lessons From Mason’s Story
- 3 Trading Takeaways From Mason Fecht:
- 4 The Big Picture
- 5 The Bottom Line
Mason’s Trading Journey
I was already planning to write this post when I had time to share this tweet and congratulate Mason. I did a video post, but really want to write something too, since this is the kind of stuff that makes me so proud as a teacher — because this is what I want for all of my students!
After a kick-ass win, Mason took to Twitter to share his news. Check it out here.
At the time of that tweet, he was up roughly $150,000 in two months. And I was so happy and proud of him that I had to share his story with you. While results aren’t typical, it’s still freakin’ awesome!
Now here’s where it gets even better …
Mason’s Verified Profits
After Mason verified his results on Profit.ly and shared it on Twitter, I knew a congratulatory post was in order.
But once I did that, I learned something even more outstanding …
I learned that since that initial tweet, Mason reported another big winner. He reported a 130% gain only a few days later, to put his profits over $200K!
Did you see it? Pretty cool, right? Mason reports that in two months he’s made $193,916.12 in profit!** He says his profit from August 24, 2018 to October 24, 2018 is over $193K!**
How Mason Got Where He is Now
Mason is one of my Trading Challenge students who struggled at first. As a matter of fact, he wanted to quit several times.
He’d made some money in stocks and options before he joined the Challenge, but he lost most of it. Why? Because his risk management skills were — in his words — non-existent.
He finally joined my Challenge after watching my Trader Checklist (that’s 11 hours of material — go get it). There, he learned there are patterns in the stock market that repeat themselves. If you learn them, you can potentially increase your chances of success.**
But even after joining the Challenge, it wasn’t easy for Mason …
He started trading right away and lost half of his money. Then he thought the problem was the PDT (pattern day trader) rule so he added some scholarship money to his account to get over the $25K limit. He had small successes here and there for the next several months. But he was frustrated and wanted to quit several times.
This is where the story gets inspiring. Mason says he took his account balance down to around $17,000 on purpose — below the $25K PDT limit — and forced himself to dig in.
When he lost, he studied like crazy. He learned what he needed to learn. His goal was to trade himself past the PDT limit in three months. That was in August 2018 — less than three months ago (at the time of this writing).
Mason admits that things lined up perfectly for the trades he focuses on and the types of stocks he likes to trade. But the main lesson here is that he put in the time studying and then waited for the trade to come to him. He didn’t force it.
Useful Lessons From Mason’s Story
This is a powerful lesson for anyone who wants to be a trader. I hear all the time from people who say, “Hey, Tim, guess what? I’m gonna be your next millionaire student.”
Want to know what I think of that? I think it’s cool you want that. I want that for you. But guess what? If it happens, it’s gonna take some time. Probably more time and studying than you think.
It Takes Dedication and Hard Work
Mason’s results aren’t typical, yet he CRUSHED IT because he finally figured this out: it takes serious effort. He even recently wrote, “If you’re not truly dedicated and not willing to put in the work, which is more than you can imagine, don’t do it.” He was writing about my Trading Challenge and his recent success.
Did he say it was easy? Hell no. He said it was hard to get where he is now. But he also said it’s worth it.
I’m so proud of you, Mason! I want more students like you. Students with patience. Students with a long view. Students willing to learn only a few patterns and wait for those patterns to present themselves. Too many people are trying to chase trades or force trades. For those of you reading this, that’s just gonna get you in trouble — don’t do it.
Limit Your Focus to a Few Strategies
Mason recently said that he only focuses on three long strategies that he knows and understands well. That’s it! Three strategies. (In case you don’t know what a long strategy is, it’s when you look for the stock price to go up.)
So Mason isn’t shorting stocks. It’s not that he doesn’t understand how shorting works. I teach short selling to my students. But I also teach you to know, understand, and practice a few strategies until you master them.
I bet you want to know what strategies Mason plays, right? Ok, I’ll share them with you, but get the lesson first! The lesson is … Mason made a decision to focus on a few things and master them. The most important part: He chose to ignore everything else!
That’s how Mason has reportedly made over $193,000 in profits in the last two months. NOT from trying to do things he didn’t know. Not from trying to force trades. NO! He waited until he saw long trades that matched his setup criteria and then he was patient and played it as he planned it.
Mason, thank you for giving me the benefit of the doubt. Thank you for having patience. And thank you for being dedicated. Congratulations!
And for those of you out there reading this — congratulate Mason! And then get studying. You can do this, but you have to put in the hours of effort and study that my top students like Mason put in. You can’t cheat success. But think how sweet it will be if you get there.
Mason said it like this: “Looking at those profits I’ve managed to accumulate feels awesome, but believe me, what feels a million times better is what I feel when I reflect on where I was a little over a year ago, and all the work I put in to get here.”
Are you paying attention? It’s gonna take work but you’ll feel amazing if you get there.
Let’s wrap this up with a few takeaways — first from Mason, and then I’ll have my say.
Trading Takeaways From Mason Fecht:
What does 21-year-old Mason Fecht focus on? Breakouts, first green days, and morning panics. That’s it. You can learn these and other strategies if you’re accepted into the Trading Challenge.
Mason’s Tip #1:
Mason emphasized that he thinks the most important part of the trade is the entry. He doesn’t like to get shaken out of a trade because his risk level has been reached. So he waits with patience, identifies the level of risk — the support level — and makes his entry at that point. But only if he gets the opportunity. He doesn’t go chasing trades.
Mason’s Tip #2:
Want to know something else Mason does? He takes partial profits into strength. That’s something else I teach to my Trading Challenge students. He sells his position in pieces to avoid loss aversion. He does it to ‘keep his psyche comfortable.’ Mason knows psychology. He’s learned that if you sell for profits along the way it gives you opportunity to have more gains.
Mason’s Tip #3:
Another thing Mason talks about is understanding market psychology. I couldn’t agree more. Look, when I say 90% of traders fail, I’m reciting a statistic that anyone can find by going on an internet search. What Mason has figured out is how to be a part of the other 10% more than 50% of the time … and have his winners be bigger than his losers. How? More often than not, he understands what the other 90% are thinking.
The Big Picture
Here are some things that come to my mind about Mason and his awesome story. I hope you let this sink in.
Trading Is a Lifelong Skill
I want to impress upon you that what I teach is not some degenerate gambler bullshit. This is a skill — or rather a set of skills — that you can use for the rest of your life. It’s not some get-rich-quick scheme. You have to understand this right from the start. Have the right perspective.
I don’t want students who think they’re going to make money right away. That’s a dangerous way to think. People who think that try dangerous strategies, like using leverage and making trades way out of their league. Or they don’t cut losses quickly. Think of trading as skills you are always going to develop. Like Mason does.
Take Your Time to Develop the Skills
Mason wasn’t successful right away. Tim Grittani wasn’t successful right away. None of my top students were successful right away. They all put in the time and the effort. Take the time. Study. Practice. Be prepared.
Get a Mentor
The most successful people in any field all have mentors. Period. That’s how you can learn the great setups and recognize the great trades. Want to know what the 10% do that the 90% don’t do? They learn how to do things right.
Want to know why I get into a trade? How about what my risk is when I enter a trade? If you want to learn how I think as a trader, join the Trading Challenge, because I give all of that information to you as I trade. And when you see it enough, over and over again, it usually starts to sink in.
The Trading Challenge
The Trading Challenge is where all my top students have come from. All my top students are in my Challenge. You get video lessons, DVD’s, mentoring, a chat room, live webinars, archived webinars. It’s the ultimate trading course for dedicated students.
The Bottom Line
Mason Fecht, congratulations again! Keep up the great work and enjoy the ride, man.
For those of you out there reading this … get on it. There’s so much content, from YouTube to blog posts to courses on Profit.ly and the Trading Challenge. Where are you going to be one year from now?
Are you a trader? Are you inspired by Mason’s story? Comment below. I want your input!