You don’t have to be from a big city, have a fancy degree, or come from money…to be a successful day trader.
YOU can become my next millionaire student, but if you listen to negative, toxic people & are not absolutely obsessed with your education & preparation, you will fail & not earn your financial freedom, condemned to be part of the rat race w/no savings & debt galore…you choose!
— Timothy Sykes (@timothysykes) June 1, 2023
I’m not saying those things can’t help…but you don’t need them.
Jack has received much attention lately after being featured on Yahoo Finance…
You’d think his story would inspire others…but if you look through some of the comments, it’s flooded with haters and doubters.
I want to talk about a few because they’re absolutely ridiculous…
These beliefs and people around you can stop you dead in your tracks and crush your dreams of making it.
Haters Gonna Hate
Jack never went to college. In fact, college wasn’t even an option for him.
He knew once he saved enough money from his valet job, he would dedicate himself to mastering the art of trading.
Despite his dedication, he lost $1,000 in his first year.
And that’s the thing people don’t always understand.
You can’t rate your progress based on your profits and losses in the first few years.
Instead, you should be focused on LEARNING and putting in the time to STUDY.
Jack didn’t have any haters in 2017 when he lost $1,000…
But he’s starting to acquire them now as an 8-figure trader.
I can make more in 1 trade then your entire track record . https://t.co/9h0qI1RAmL
— Benjamin Yo (@short_cap) May 1, 2023
Haters Never Win
Some of the comments on Jack’s Yahoo article are just nuts.
Like this one…
This appears directed at me…hitting me with the old if you can’t make money trading, then you teach line.
The truth is my track record is verified and can be found here on Profit.ly.
But besides that…
How do people learn anything?
Wouldn’t you want to learn from someone successful and try to model their success?
Don’t most successful people have mentors?
There’s no magic to what I teach. I ask my students to put in the hard work…I tell them there are no guarantees.
They don’t learn tricks or strategies…they learn a process for understanding markets, patterns, trends, risk management, and the mental side of trading.
The reason why I have so many millionaire students is because they DON’T all trade like me.
But the comments seem to get worse…
Like this one:
This poster believes day trading is not worth it because if you win, you must pay short-term capital gains taxes.
Do you think Jack Kellogg would instead go back to being a valet driver…
Or paying taxes on more than $12.2 million in trading profits?
The “I don’t want to make more money because I don’t want to pay higher taxes” line is a classic hater line.
Also, the idea that investing in stable technical stocks is better than day trading is debatable.
Wasn’t some of this year’s best stocks, like META and NVDA, down 50-70% last year?
Don’t once-great companies like Kodak and Sears decline?
The idea of picking long-term winners in this market is much harder than back in the day when technology was not moving nearly as fast as it is now.
One could argue that “stock picking” long-term is as tricky as day trading.
Yet the haters want to remain in denial…
Like this post:
Jack’s rise wasn’t as quick as you’d think…
In his first three years, he had about $160K in profits, that’s about $53K a year, which is slightly above the average salary…but not by much.
But unlike most careers, the income potential in trading isn’t capped.
There isn’t a corporate ladder you need to climb…a boss you need to impress…or a promotion needed to advance.
Each year, Jack’s skills compound. He builds on his knowledge. And while it didn’t like he was making significant progress those first few years…
All that hard work started to pay off three years later.
Again, there is no magic formula.
The markets are too dynamic for that.
There’s a framework that I teach to Jack and all of my students who join my program.
With that framework, you can adjust and fit them to your needs.
The principles, however, rarely change.
For example, my number one trading rule is to cut losses quickly.
And that’s just one of the many rules I teach that helped build the foundation for successful trading.
What Jack has been able to accomplish is nothing short of remarkable.
But that doesn’t mean he didn’t do it.
It had nothing to do with luck.
He spent hours each and every day working on developing his craft.
Who knows what you are capable of doing?
However, to find out, you must put yourself around people who support you, have the same vision, and have the success you want to achieve.
Let the doubters and haters be with themselves.
If you want to find what it’s like to be on a winning team, then you’ll want to: