I love getting messages from my students. I love communicating with my students and followers on social media. I get inspired by messages of success in the Trading Challenge chat room. And I love to share inspiring messages and student milestone reports .
So, if you want to celebrate a milestone, embrace the process. You have to gain knowledge and experience before you get to celebrate big numbers. When you join the Trading Challenge you start the process.
It’s all about the process. Start today.
Back to messages from students. This is how, frankly, I choose many of the topics I cover — both on YouTube and here on the blog. And it makes me a better teacher. Yeah, I could ignore everyone and say, “this is what you need to learn” but then I wouldn’t grow as a teacher.
Table of Contents
- 1 Trading Challenge Student Milestone
- 2 Trading Isn’t About the Money
- 3 Rely On the Process
- 4 The Ongoing Education of a Trader
- 5 Embrace the Process With Trading Challenge
Trading Tweets With Tim?
I want to start a whole series called Tweets With Tim where I showcase everything I’m getting on Twitter. Good tweets, bad tweets, everything. I don’t think there’s anyone in the world interacting with as many traders on a daily basis as me.
So, Tweets With Tim might be coming but there are some hurdles to jump first. Primarily to do with privacy and legal issues. What can I say? It’s the world we live in. But I have my fingers crossed.
In the meantime…
Trading Challenge Student Milestone
Some students have recently crossed big milestones. I try to give them a shout out whenever possible. Sometimes it’s here, sometimes on YouTube.
Here’s the thing…
Sometimes the numbers are pretty big. Big enough so a student starting out with a few thousand dollars in their trading account can’t relate. They might say “Hey, I want to be a top student of Tim Sykes.” But they’ve never had more than $10,000 in their bank account in their life.
I’m not knocking anyone in those circumstances. I’m just trying to make the point that if you want a big number but can’t relate to it then it creates a mental barrier. And it’s not even conscious. Your unconscious mind simply can’t relate. For some people, you have to find examples of success closer to where you are.
Check this out and get inspired…
Embrace the Process When Learning to Trade
This is why I work so hard to get people to embrace the process and not worry so much about the money. If you embrace the process and learn the rules, the potential for money increases.
What Happened When This Trading Challenge Student Embraced the Process?
So I want to celebrate an amazing milestone one of my students reached in March. He’s called GarseeTrader over on Profitly. He reports that he grew his small account by roughly 400%*. And it wasn’t a fast process. It took nearly two years for him to quadruple his account. But this is where it gets fun because he’s created a foundation of knowledge.
Amazing job, GarseeTrader! He reports that he’s accomplished even more since that time. You can check out his profile over on Profitly. There’s a profit chart there as well as his most recent trades.
(This recent post explains how to learn from trades posted on Profitly: My Top No-Cost Resources For New Traders. Even if aren’t a subscriber yet. If you’re new and trying to figure out where to start, read that post and follow instructions.)
Trading Isn’t About the Money
For those of you who don’t know … and you think trading is just about the money — it’s not. Money is a result of how hard you work. Money is a byproduct of studying. When it comes to trading, studying can become your closest ally.
GarseeTrader didn’t put all the money he had in the world on one stock and it quadrupled. No. He’s been taking little gains here or there. He’s been developing his skills. He’s been testing and tweaking. He’s come to terms with his comfort level. He’s set some realistic goals about how much he’d like to make on a given day without overtrading.
My point is, there’s a process you have to go through to become consistently profitable as a trader. It takes time and effort. It takes study, practice, and dedication. It requires you to learn to lose the right way. (Every trader loses some percentage of the time. Just keepin’ it real.)
Sometimes You Have To Lose To Win
I don’t win 100% of the time. None of my top students win 100% of the time. Not even 90%, or 80%. Sometimes we win 50%, 60%, or 70% of the time. It all varies. This is what’s so cool. Pretty much the whole world thinks that penny stocks are scams — like there’s no money to be made.
Little by little, I’m putting cracks in those ignorant assumptions.
With every new milestone student, I’m reminded it’s not about the number.
Some of my students start with $1,000 or $2,000. I don’t think you realize how many trades, and how much effort and hard work it takes to get from a thousand to a million. But it’s not impossible. (Potentially, if you work hard and study. My results aren’t typical. I’m not a financial professional.)
That’s what I love showing. The process. Every single trade. You can look up GarseeTrader on Profitly and see every single trade. Do not trust anybody who doesn’t show every single trade and the details of how much they’re using on a trade. Demand transparency.
Why is it so important to get the details? I see some traders posting things like “I made $50,000!” and they show one screenshot. But if you’re using $600,000 or $800,000 to make $50,000 … or you risked losing $100,000 at one point and the trade came back…
…maybe you got lucky this time.
That’s not what I teach and I don’t recommend it. It’s a great way to blow up your account.
Rely On the Process
You can’t rely only on overall profits. GarseeTrader earned his milestone with small gain after small gain — and smaller losses. Still, it’s an example of quadrupling an account in a timeframe that can’t be matched using mainstream strategies like mutual funds. It can’t be matched investing in long-term blue-chip companies, I’m sorry.
To quadruple your account that way it’s going to take a decade, maybe even two. This is happening in a few weeks or a few months. Or a couple of years. And I’m not saying this is easy, fast cash. This is not a get rich quick scheme, okay?
Go over to Profitly and look at GarseeTrader’s progress on profit.ly. Do it. The first leg up took a long time. But when things started to click, they clicked. Now it’s up to GarseeTrader to maintain his focus. It’s up to him to stick to his trading plans and continue to be as careful with risk as he has to this point.
But because he’s followed a process to get to this point, he has a process to use for the next part of his journey. He has more funds to work with because he’s earned them. So things start to change. He can take bigger position sizes as determined by his risk management system (RMS).
The lesson from GarseeTrader: In the beginning, don’t worry about the money. If you study a lot and the money isn’t that big in the beginning, you’re learning the process. Once you learn the process, it’s rinse and repeat, rinse and repeat.
The Ongoing Education of a Trader
GarseeTrader studied like crazy for years to get the knowledge to be able to do this. He started with me back in January 2015. He didn’t even make his first trade until July 2017! Talk about patience. At first, he didn’t even trade — he studied.
When he did start trading he didn’t make much at first. He reported losing on 5 of his first 6 trades. But he learned the process. And he continues to refine his process.
This is super important. He hasn’t learned “just enough to be dangerous to himself and others.” He’s learned a process which he continues to refine. It takes time. FOR EXAMPLE: The exact same process used to go from $2,500 to $10,000 is the same process that’s could possibly be used to go from $10,000 to $40,000.
It’s not going to be overnight. It’s not going to be easy. You have to wait for the right plays. And this isn’t an exact science.
What are the right plays?
Trading Tip: Find the Hot Sector
Sometimes there might not be a hot sector. Or it might Bitcoin … or the weed sector. But you learn what the good plays are — like Garsee Trader. Then you learn to have patience for those good plays. You learn to grow your account exponentially over time. That’s what’s possible with enough patience.
Embrace the Process With Trading Challenge
I love showing you example after example of successful students. No matter whether they report becoming a millionaire or a six-figure student. Or quadrupling their small account. They’re all proof to me that the process works.
The Trading Challenge is the best way (in my opinion) to learn the process. It’s not easy. It’s not for lazy people. You get access to thousands of video lessons. You can watch hundreds of archived webinars. Each week, Trading Challenge mentors and I host live webinars. You get access to all my DVDs.
To get through the content we provide requires a massive effort. It requires dedication. In other words, you can’t cheat success.
But the knowledge gained … the potential freedom … that lasts a lifetime. A lifetime.
Thank you for reading my posts. I hope they help you. I want to share everything that I’ve learned over the years. You can check related posts by clicking the links in this post.
To the right you can sign-up for my weekly watchlist, check out the latest posts, and apply to work with me. Subscribe so you can get that knowledge and become my next top student.
Are you a trader? How does your process or lack of process affect your trading? Newbies, comment below with “I will embrace the process.” I love to hear from all my readers. Comment below so I can have more to share on my student milestone report !