Two paths lie before you in the world of trading.
Most will choose the first path—the path of the victim.
They settle for mediocrity, making endless excuses for their lack of success. Time, money, intellect—every obstacle becomes a reason to give up.
But let me tell you something: there’s a better way.
It’s the path of responsibility.
It’s about owning your mistakes and committing to doing whatever it takes to improve.
Let me share a recent experience to illustrate the power of this mindset. I entered a trade on MGOL on Wednesday… and ended up losing a small amount.
Shortly after, the stock skyrocketed, doubling from my initial entry.
It could have crushed me, leading to impulsive, revenge-driven trades.
But I refused to let those negative and destructive emotions control me.
Instead, I stayed calm and focused and learned from the situation.
The very next day, I took another shot and nailed the trade. That’s the difference a dramatic shift in mindset can make.
And I’ll show you how I stop myself from getting self-destructive, where I’m finding opportunities in this market, and the mindset you need to thrive in any market.
Table of Contents
This Would Have Triggered Most Traders
The world’s greatest soccer player, Lionel Messi, is coming to Miami and joining the MLS.
When I heard the news on Wednesday, I was super excited…as I’m a big fan of the Argentine soccer legend.
This is easily the biggest signing the MLS has ever seen.
It will have a huge positive impact on the MLS, Apple TV, Adidas, and the city of Miami, not to mention all the other sponsors and businesses involved.
Believe it or not…
There was actually a way to play this via the stock market.
And that was with the ticker symbol MGOL.
The company is MGO Global, offering a clothing line under the Messi Name.
If you go onto the company website, you’ll see Messi front and center.
I jumped into MGCO in the afternoon on Wednesday at around $1.70.
I got in with a relatively small size, about 3,000 shares.
However, the stock didn’t do much, and when it got to $1.62 I bailed.
I ended up taking a small loss…
Not long after…the stock ripped higher…hitting a high of $2.82.
A few weeks ago, I would have flipped out if this happened.
I’d be boiling trying to find another trade and make up the money I would have made in MGOL.
Of course, that type of thinking can only lead to bigger problems.
Looking back on the trade, I should have played it sooner or waited for a bigger panic dip buy opportunity.
It’s always tricky to place trades late in the morning/early afternoon.
The Mindset That’s Made Me Millions
Forget about what the talking heads are saying on TV.
And in a bull market, there’s one thing you need to be aware of: you’ll have plenty of chances.
So despite fumbling MOGL, I knew I might get another chance down the road.
In fact, I thought if I could get an early panic dip buy on Thursday, I would have a better shot at nailing the trade.
And that’s exactly what happened on Thursday:
It turned out to be a classic panic dip buy opportunity.
Running It Back
If you want to succeed as a trader, you must approach your trading with the right mindset. A loss is only if you don’t learn anything from it.
If you get caught up in the last trade, you might miss what’s next.
That’s why you should try to learn from your mistakes. And try to figure out what you need to fix to improve your results.
I’ve developed a process for becoming a better trader…several of my students have gone through this process…and more than 30 have gone on to become millionaire traders.