Jack Kellogg is up nearly $2M this year, and we still have three more months to go.
That’s an average of nearly $250K a month…
It’s pretty incredible when you consider he doesn’t have a college degree, was never a great student in high school, and was an average trader his first year.
However, none of that discouraged this former valet.
And while his meteoric rise comes as a shock to most people…it isn’t for Jack.
Source: Profit.ly
But how does someone go from barely surviving to becoming one of the top day traders in the country?
CONFIDENCE.
It doesn’t matter whether you’re a newbie, unprofitable, a break-even trader, or someone looking to take it to the next level…
Confidence (or the lack of it) will determine your outcome.
That’s why I want to share with you the five strategies for unlocking unshakable confidence.
Table of Contents
Has This Ever Happened To You?
Have you ever gotten into a trade because you loved the setup…but after getting in you decided to talk yourself out of it?
Only to see the trade work out exactly like you thought it would…but you’re not in it.
Or how about this…
You’re in a trade with a specific price target in mind, but since you’re account is down, instead of watching the trade play out, you decide to take profits because you are fearful of seeing another trade go against you.
Or even this…
After a series of losses, you avoid good setups because you’re paralyzed by fear.
All of these stem from a lack of confidence.
You didn’t suddenly lose the knowledge you acquired…but you lost faith in your ability to execute.
Even I go through stretches where my confidence is low…it doesn’t matter how good or experienced you are…if you trade long enough…you’ll have stretches where your confidence is lacking.
Here are what I believe to be the best ways to develop unshakeable confidence.
#1 Be Prepared
I don’t wake up and randomly trade ticker symbols. I come into each session with a watchlist.
In addition, I have a specific set of criteria I’m looking for.
I need several boxes to check before even considering taking a trade.
P (Pattern and Price Action Need To Make Sense)
R (The Risk vs. Reward Needs To Be To My Advantage)
E (The Ease of Entry and Exit Needs To Be Clean)
P (Past Performance Should Show Me The Stock Has The Potential To Spike)
A (At What Time Am I Placing This Trade? And Does It Fit My Schedule?)
R (Reason or Catalyst Should Be Compelling)
E (Environment Matters. Is The Market Uptrending, Downtrending, Volatile, Etc.)
I look at all these factors before deciding to risk my hard-earned money, and you should, too.
Now, you might be thinking, That’s great, Tim, but how do I know I’m in the right trades?
#2 Study…Study…Study
Not only do I know my best setups like the back of my hand…I know which setups are working for the current market.
You see, some people will trade the same pattern because it worked for them in the past but don’t consider the current market.
The reason why I’ve been successful for all these years is because I’ve made adjustments, and I’ve been able to adapt.
Even though I’ve made millions in trading profits…I still journal all my trades.
I’m constantly studying what patterns are working.
Traders like Jack Kellogg aren’t throwing random darts.
They study trends, catalysts, and price action.
And because of that, they’re able to build conviction. It is a necessary component if you ever want to scale up and trade bigger.
#3 Put In The Reps
2018 wasn’t an overly impressive year for Jack, but he was putting in the reps and building experience.
When the markets got hot in 2020 and 2021, he was ready to take full advantage of the opportunity.
One problem I see from so many newbies is they bounce from one strategy to the next.
Imagine a professional football player saying today, I’m going to try kicking field goals, and if that doesn’t work out, I will try wide receiver next.
It doesn’t work that way.
To be good at anything, you must work hard to develop your skills.
I’m an excellent trader when it comes to penny stocks.
But I’m below average at best if I dip into options trading.
I’m not saying you shouldn’t experiment or anything like that. But more so, to get good at anything, you must put in the time.
#4 Set Small Goals
Jack didn’t become an 8-figure trader overnight.
It starts with setting small goals first.
If you’re a newbie, your goal should be survival.
That’s right…survival.
Why?
Because you lack the skills, knowledge, and experience to be good.
You want to lose as little money as possible while developing those aspects of your game.
The problem is so many of you are in such a rush to make it happen.
Have you ever tried to cram for an exam the night before?
You might remember some stuff, but you might also be super confused because you overwhelmed yourself with so much information.
It’s not the way to go about it.
Master one set up at a time and focus on trade at a time.
As you progress, then start adding other layers to your game.
Set small goals for yourself, crush them, and set bigger ones.
#5 Accept Failures as Learning Opportunities
For every four trades I place, one of them will be a loser.
Some traders can be profitable by losing more than half of their trades if their winners are substantially bigger than their losers.
Trade long enough, you will face failures and setbacks.
Instead of seeing these failures as obstacles, view them as opportunities to learn and grow.
By reframing failure this way, you reduce the fear of trying a new strategy or scaling up…and can approach challenges more resilient and confident.
(Bonus: #6) Surround Yourself With Positive People
Despite making over $7.4 million in trading profits, I’m even more proud that I have over +30 millionaire students.
Surrounding yourself with others who have achieved what you want to achieve is priceless, in my opinion.
That’s why, throughout the week, my team and I host live training workshops.
These workshops are designed to help you make improvements in your trading.
The best part is that they come to you at zero cost.
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