Studying sucks. It’s hard work and you don’t get paid for it. So why do I constantly tell you to do it?
Because it’s worth the effort.
If you want to be financially free like my Trading Challenge student Tim Grittani, who started trading in his twenties and has now made over $13.5 million in trading profits…
Or like Jack Kellogg, who used to be a valet and is now up over $8.6 million in trading profits…
You’ve gotta study.
As a trader, your most precious commodity is knowledge.
It can help you find the best trades and make the best decisions once you’re in them. That’s huge if you’re trying to build your account…
I want to help you study the RIGHT way. I’ve put together three of my most important lessons to get you started — don’t miss these crucial resources!
Three Crucial Lessons for Traders
document.write(new Date().getFullYear()); Millionaire Media, LLCYou’ve heard me say it before … Traders have two accounts: a monetary account and a knowledge account.
Nobody FEELS like investing in their knowledge account. Most people are lazy — they just start throwing money at the market hoping they’ll get rich.
Maybe some people win, but most people just blow up their account over and over, then quit.
Don’t be one of them.
Start studying now and avoid potentially huge losses. Start with these key lessons…
1. Internalize My #1 Rule
Cut losses quickly!
This is the simplest rule I teach. It’s also the HARDEST one for people to learn.
For example, check out this recent post about my student Nick. He broke my #1 rule so many times that he eventually found himself down $40K.
He realized he’d either have to quit trading — or start cutting losses.
So he humbled himself and finally started following my #1 trading advice.
Now, about two years after this mindset shift, he’s up over $187K in profits.
How much do you need to lose before you learn this lesson and start following this rule?
Watch this video as many times as you need to until you get it…
2. Understand the Game
I’m not an investor. I’m a trader.
Penny stocks are NOT like other stocks. You don’t buy them and hold them for years and years.
I don’t believe in these companies and I don’t care if they succeed.
I try to capitalize on informational inefficiencies and short-term spikes. It’s a lot more speculative, but the moves can be much bigger than what you get with ‘real’ stocks.
It’s a different strategy than most people have been taught.
If you want to be a self-sufficient penny stock trader, you MUST know the rules of the game.
Here are two key resources to help you learn:
- My 30-Day Bootcamp. Along with my millionaire student Matthew Monaco, I created this guide to help traders progress from the basics to more advanced trading strategies. Don’t miss it!
- “The Complete Penny Stock Course: Learn How To Generate Profits Consistently By Trading Penny Stocks.” My student Jamil created this comprehensive guide to pennystocking based on my penny stock lessons. It’s coming up on the four-year anniversary of this book — but the lessons are just as relevant today as the day it came out. Click the link to get your copy at NO COST!
New traders need to know these lessons — you won’t find them anywhere else.
3. Don’t Make it Harder Than It Has to Be
document.write(new Date().getFullYear()); Millionaire Media, LLCTrading isn’t rocket science. I’m not even that good at math!
But I am good at using the right tools to find the best trades.
I always say that trading is like a battlefield — you need the right weapons if you want to survive.
Every single day I use tools like StocksToTrade to scan for my go-to setups and its Breaking News Chat feature to alert me about news that could create huge moves.
Thanks to these tools, I recently made $942 in a matter of minutes on a morning spiker — without chasing.
Trading doesn’t have to be a mystery. There are some incredible tools out there that can give you an edge. Make use of them.
Invest In Your Knowledge Account!
document.write(new Date().getFullYear()); Millionaire Media, LLCI wish I could get more traders out of the ‘money mindset’ and help them understand that trading is a marathon, not a sprint.
Most people read about my students’ impressive milestones and get impressed by the money they’ve made — but they don’t even think about the years they spent studying.
Most of my top students spent YEARS studying and making little to no money before things clicked. But they were willing to put in the work, and it paid off…
Would you rather put in the work now or keep losing until you understand the value of studying?
I hope you’ll check out Jamil’s book … watch my videos … and keep learning!
Do you get why I think studying is so important? Leave a comment below and say “I will STUDY HARD” if you understand!
The post 3 Ways You Can AVOID Failure in the Stock Market appeared first on Timothy Sykes.
Original source: https://www.timothysykes.com/blog/avoid-failure-in-the-stock-market/
