Many traders come into trading expecting to make millions within a short period of time.
That is not the right approach anyone should have and it’s not going just to happen overnight.
Take it from one of my millionaire students, Jack Kellogg.
When Jack first started trading he lost one-third of his account in two days.
In fact, he didn’t make any money in his first year of trading.
Despite his loss, he stuck with it and continued to study and focused on learning the process.
You see, trading isn’t all about luck, it’s about three main things…
We can never control what happens in the world or in the market, but these three main things you can control can help you become a better trader.
So if you are wondering what three things you can control to help you become a better trader, you’ll want to see what I have to share with you today!
P.S – If you are still struggling with potential trades and profits, I have some great news for you! But don’t wait too long, today’s the last day to take full advantage!
Table of Contents
Strategy
Many traders may struggle to find the right type of strategy that works best for them.
All of my millionaire students trade differently, but what they all have in common is that they follow the same type of strategies as me.
If you want to be a successful day trader, you need to think beyond the point of just buying and selling stocks.
Trading isn’t easy, so let’s focus on a few key points on how to improve your overall strategy when it comes to trading.
- Plan Your Entries and Exits
With every trade, you need to plan when your entry and exit points are. I do this with all of my trades, look…
If you are just randomly buying a stock without any fundamentals, your outcome isn’t going to be as great as if you had a plan.
In many of my trades, I am meticulously planning where to buy and sell.
If you don’t have a strategy before you pick a stock you are looking to trade, you’re setting yourself up for failure.
- Trading Volatile Stocks
With any trade, I like to trade volatile stocks.
Why? Well because I can get that 10% to 20% that I look for and I don’t have to hold onto my position for a long period of time.
With most of my trades, I am in and out in a few minutes.
If the trade doesn’t work as planned, I always make sure I follow my #1 rule.
When you find stocks that have the ability to spike, it can set up additional opportunities based on my pennystocking framework.
Having a strategy can help you better prepare, the same way a golfer will meticulously plan how he is going to play a certain course.
Not only do they have a strategy on how to win that tournament, they are also dedicated to the sport, which leads me to my next topic…
Dedication
How dedicated are you to learning and understanding the process?
Many traders want to get hot picks and money given to them.
Unfortunately, it doesn’t work like that.
No matter what your end goal is in life, everyone has to dedicate time and effort to hit their end goal.
But my goal today is to help you become a self-sufficient trader like the rest of my millionaire students.
So what is your overall goal? All of my student’s first goal was to make a million…
So how did they get there? By being dedicated and studying every chance they got.
Even today, all of them still continue to study their trades and the market as it is never the same.
If you are new to the trading world and wanted to practice, I suggest paper trading if you are not ready to invest.
More Breaking News
- OnKure Therapeutics Sees Volatile Trading Amid Recent Developments
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- HPE Navigates Uncertain Market as Earnings Loom
- Archer Aviation’s Financial Struggles Prompt Concerns Over Stock Viability
This will give you the opportunity to make trades, understand your strategies, and better prepare as you study.
Compounding
All of my millionaire students, including you, have one thing in common…
And that is starting small.
There are many traders today who are starting with a small bankroll, but how you plan on growing your bankroll is half the battle.
There are traders who risk it all on one trade and then lose it all…
And they give up on trading completely.
That is not the right approach, and what I want all of you to understand today is that small gains will continue to add up…
And you need to know when to cut your losses quickly as not every trade will be perfect.
When you are trading it all comes down to position sizing…
How much of your account are you risking when you place a trade? 10%, 50%, 80%? All of it?
Position sizing is huge and it is all part of risk management.
The biggest question is, how much are you willing to risk?
Let’s say you are starting with $5,000 and you are risking 10% to make 10%.
A $500 risk to make 10% is $50, which doesn’t seem like a lot, but will continue to compound and that will continue to increase your bankroll and the size of your trades.
What would an extra $100 a day do for you?
Just One More Thing
As we head into another earning season, we are already starting to see some major companies miss quarterly earnings, just look at…
Alphabet Inc. (NASDAQ: GOOG) and Microsoft Corporation (NASDAQ: MSFT)
Is this just the start of what’s to come?
Who knows, but I do know one thing…
Right now we are in a situation where if you have any money in the market, there is an opportunity knocking on our doorstep…
Tim Bohen and I can’t keep it a secret any longer, so tonight we are going to explain to you how this is the most critical move you can make all year!
Don’t worry about what companies make or break earnings, I want you to make sure I see you tonight at 8 P.M. Eastern.
How dedicated are you to wanting to achieve a life of financial freedom?
Cheers,
Tim!
P.S – We dropped everything to share this with you tonight. With only a handful of seats left, don’t miss out on how to capitalize on this!
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