You only have one life. That means you don’t have time to waste. Every moment of every day is precious. How you use it determines a lot about your quality of life.
We all face obstacles. Yes, some face more than others. That’s life. If you’re reading this, you have it better than many — no matter where you are. So make the most of it. Use every day to improve your life or the lives of others.
If you ever feel life dealt you a tough hand, think about all the children who want an education but can’t get one. There are a lot of them all over the world.
Get motivated to learn so you can give back when the time comes.
Table of Contents
- 1 Karmagawa’s Latest School Renovation
- 2 Trading Mentor: Patience Pays Off
- 3 Trade Review: Why I LOVE STT’s Breaking News Chat
- 4 Millionaire Mentor Market Wrap
Karmagawa’s Latest School Renovation
I'm thrilled to report we just got approved to begin my charity's 76th school build/renovation, our 1st project in Iraq! When its finished in a few months, this school will provide education to 400+ students as every child deserves the opportunity to learn/get a proper education! pic.twitter.com/93s8ZBPpGa
I’m looking forward to seeing the end result. But I’m more excited for the students. We take education for granted in the U.S., but in many parts of the world, children don’t get the same opportunity. Karmagawa is working to change that.
Trading Mentor: Patience Pays Off
One character trait most successful people share is patience. That’s because so much of becoming ‘successful’ — at anything — is a slow grind. The reality is, most people don’t have the required long-term dedication to learning.
It’s counterintuitive. On one hand, I’m saying you have only one life, so make the most of it. But to do that, you MUST develop patience. One way is to have a research and development mindset. That applies to both the learning process and to full-time trading.
That’s exactly what I told Matt Monaco, Jack Kellogg, and Kyle Williams during a recent TWIST episode. Why? Because these guys earned so much, so fast, it was a little surreal for them. How do you prepare for making $1 million in your 20s?* I think it caught them a little off guard.
(*These results are not typical. Individual results will vary. Most traders lose money. Traders like Matt, Kyle, and Jack have the benefit of many years of hard work and dedication. Trading is inherently risky. Always do your due diligence and never risk more than you can afford to lose. I’ve also hired Matt, Kyle, and Jack to help in my education business.)
And even though the market has shifted, it hasn’t shifted that much that they shouldn’t still be crushing it.
Check out the TWIST episode…
TWIST: What’s DWAP?
Yes, I gave Jack, Kyle, and Matt a hard time. But that’s because they spent years getting to this point, and I don’t want them to lose their edge. More importantly, I don’t want them to lose their drive. You only have one life … make the most of it.
To truly succeed, you REALLY must love what you do as the $ you make is just a consequence of your passion & hard work over time. You should focus on what gets you motivated/pumped up THE MOST & then build your own dream life (not someone else's) around it…YOU ONLY HAVE 1 LIFE!
Learn from what they’re going through. Consider what it takes to become a profitable trader, then apply that to staying that way…
Research and Development: Find Your Edge
My answer is the same every time…
Watch them all. Watch every DVD (in syllabus order). Then watch every video lesson. (My top students watch the video lessons multiple times.) Then watch every archived webinar and attend every live webinar possible.
The next thing new students want to know is … “What pattern should I trade?”
I give the same answer over and over again. You have to think of the beginning as a research and development phase.
Stay in the Game While Testing and Tweaking
(Quick disclaimer: I proudly helped design and develop StocksToTrade and am an investor in it.)
The point is, to find your edge you have to test and tweak. Your job is NOT to make a bunch of money in the beginning. It’s to complete your research-and-development stage without losing so much that you’re out of the game.
Too many people think trading is all about making big $ right away, but the truth is 90% of traders lose to lack of preparation, lack of discipline & being too aggressive at first. I think it's better to start trading small, or even papertrading on @StocksToTrade while learning
Just so we’re 100% clear … most traders lose money. Most NEVER make it out of this stage. They go too big, too fast. Or they have no idea how to test, tweak, and track their trades.
But, assuming you get out of the initial research and development stage, what’s next?
Research and Development: Keep Your Trading Edge
I’m happy to say it’s more research and development…
Because the market is NOT static. The stock market is always changing and shifting. The past year has been one of, if not THE best market ever. But even during the year, there were shifts.
Different sectors ran hot, then cooled back down. Patterns shifted. A few weeks back I was making huge money trading morning panics — day after day. Now I’m playing more morning spikes and breaking news plays.
For me, it’s just a matter of adapting because I’ve seen it all over the past 22 years. I don’t get attached to any one market, stock, or pattern.
So for Kyle, Jack, and Matt, my point during that episode of TWIST (you watched it, right?) was that they’ve earned the right to do even more research and development.
Every trader should do the same. Yes, find what works first. Make it your bread and butter. Then explore other patterns. And don’t be afraid to explore tools you haven’t been using. (More on my favorite tool in the trade review below.)
Imagine for a moment that you’ve lost your edge. As in, you had an edge but the market shifted and now you feel a little out of sorts.
Taking time away from the market can be good. But when there are still plays and you have the ability to play them … that’s NOT the time. (Especially to go buy mouthwash during market hours. Come ON, Jack!)
So what should you do? Go back to square one…
Research and Development: Regain Your Trading Edge
I hope you see the common thread. If you lose your edge, it’s back to research and development.
You have to find a new edge. Or regain your former edge.
The stock market will always be there. There won’t always be the same number of plays we’ve seen this past year. But there will always be winners and losers in the market. The question is, will the plays be something you know how to trade?
I look forward to slower market environments so people can focus on optimizing their own process rather than having their bad habits be reinforced by a bubble environment, which has been the reality the past few months. Normally risk management & discipline actually matter A LOT!
The only way to be ready for any shift is to continuously study, practice, test, and tweak. There’s no shortcut.
Again, trading penny stocks is a game of multiple moving targets. That means there’s no time to get too comfortable. It will bite you in the keister.
And whatever you do, when there are plays, don’t go to the store for mouthwash while the market is open.
Now it’s time for…
Trade Review: Why I LOVE STT’s Breaking News Chat
STT’s Breaking News Chat isn’t just another financial news service. It’s two former Wall Street traders alerting curated news … FAST. And lately, they’re on fire.
So before I review a trade, check out these stats from last week.
- Four of my 10 biggest percent wins came from STT Breaking News Chat alerts.
- Three of my 10 biggest dollar wins came from STT Breaking News Chat alerts.
- All told, just over 25% of my trades last week came from STT BNC alerts.
I’ll let that sink in for a moment…
No matter how you look at it, those are solid stats. Is every alert a win? No. Like the rest of trading, it takes studying and experience to understand how catalysts can move stocks. Even then … the market doesn’t care what you want. So the alert might not play out.
Still, it blows my mind that more people aren’t using the Breaking News Chat feature. Let’s look at…
The Movie Studio, Inc. (OTCPK: MVES)
First, take a look at the MVES six-month chart during the massive spike.
As you can see, it was a clear multi-week/multi-month breakout. But it didn’t last long. You had to be super quick to take advantage of it. Now check out the MVES intraday chart with my buy and sell alerts…
Again, it was only a few minutes of intense spiking. There were bounce opportunities, but it was choppy. At $5,368 in profits, this trade was my biggest dollar win last week.* It was also my fifth-biggest percent gain of the week.*
Now check out the MVES six-month chart showing the spike as a first green day candle with a very long wick…
I hope you see the potential. This trade was only possible for me because of the alert. Even then, it moved so fast I had to chase a little. Instead of getting greedy and undisciplined, I got out as soon as the momentum shifted.
This kind of trade isn’t for everyone. It happens so fast that it’s easy to miss. And if you chase too much, or hold and hope, it can turn into a huge loss. So don’t attempt this until you’ve practiced it. Start with small positions or, better yet, paper trade with StocksToTrade.
But you’ll need STT’s Breaking News Chat add-on for your subscription if you want their alerts.
Again, you only have one life to live. Make it count.
Millionaire Mentor Market Wrap
Even though there was a little shift in the market last week, it was still amazing. All the NFT and breaking news plays provided plenty of opportunities. This week could see a lot of people use stimulus checks to fund trading accounts. Be ready.
Remember, research and development never stops. Big companies spend big on R&D. It’s the only way to stay relevant and create products or services people want.
Trading is similar. Your trading career will go through phases. But every phase involves some level of research and development. So make it a part of your process. What can you learn, test, and practice today to set you up for next month or next year?
And finally, remember you only have one life. Make the most of it. Use every day wisely.
Trading Education Resources
Matt, Kyle, and Jack all took part in my Trading Challenge. Now they’re all millionaire traders in their own right and Trading Challenge chat moderators.* I’m not saying you’ll be like them if you apply for the Challenge. Most people aren’t willing to put in the time and effort like them.
Since you only have one life, what will you do today to live it to the fullest? Comment below, I love to hear from all my readers!