Reach Your Trading Goals Using THIS Process
I hope you’re enjoying your time off with friends and family this Independence Day.
Just don’t forget to use some of this time to hone your trading skills. Idle time is wasted time! And to become a better trader, you must study study study.
The more work you put in today, the more successful you will be tomorrow.
As a teacher, it’s one of the things I tell my students over and over again. Perhaps I sound like a broken record, but it’s a message I want to drill in each and every one of my students.
On that note…
I love getting messages from my students. I love communicating with my students and followers on social media. I get inspired by messages of success that I receive from readers like you. And I love to share inspiring messages and student milestones.
So, if you want to celebrate a milestone, embrace the process. You have to gain knowledge and experience before you get to celebrate big numbers.
It’s all about the process. Start today.
Back to messages from students. This is how, frankly, I choose many of the topics that I cover. And it makes me a better teacher. Yeah, I could ignore everyone and say, “this is what you need to learn” but then I wouldn’t grow as a teacher.
Check this out and get inspired…
Some students have recently crossed big milestones. I try to give them a shout out whenever possible.
Here’s the thing…
Sometimes the numbers are pretty big. So big that a student starting out with a few thousand dollars in their trading account can’t relate.
They might say “Hey, I want to be a top student of Tim Sykes.” But they’ve never had more than $10,000 in their bank account in their life.
I’m not knocking anyone in those circumstances. I’m just trying to make the point that if you want a big number but can’t relate to it, then it creates a mental barrier.
And it’s not even conscious. Your unconscious mind simply can’t relate. For some people, you have to find examples of success closer to where you are.
Embrace the Process When Learning to Trade
This is why I work so hard to get people to embrace the process and not worry so much about the money. If you embrace the process and learn the rules, the potential for money increases.
So what can happen when a student embraces the process?
Let’s take a look at an amazing milestone one of my students reached in March. He’s called GarseeTrader.. He reports that he grew his small account by roughly 400%. And it wasn’t a fast process. It took nearly two years for him to quadruple his account.
But this is where it gets fun because he’s created a foundation of knowledge.
Amazing job, GarseeTrader! He reports that he’s accomplished even more since that time. You can check out his profile over on Profitly. There’s a profit chart there as well with his most recent trades.
Trading Isn’t About the Money
For those of you who don’t know… and you think trading is just about the money — it’s not. Money is a result of how hard you work. Money is a byproduct of studying. When it comes to trading, studying can become your closest ally.
GarseeTrader didn’t put all the money he had in the world on one stock and it quadrupled. No. He’s been taking little gains here or there. He’s been developing his skills. He’s been testing and tweaking. He’s come to terms with his comfort level. He’s set some realistic goals about how much he’d like to make on a given day without overtrading.
My point is, there’s a process you have to go through to become consistently profitable as a trader. It takes time and effort. It takes study, practice, and dedication. It requires you to learn to lose the right way. (Every trader loses some percentage of the time. Just keepin’ it real.)
Sometimes You Have To Lose To Win
I don’t win 100% of the time. None of my top students win 100% of the time. Not even 90%, or 80%. Sometimes we win 50%, 60%, or 70% of the time. It all varies. This is what’s so cool. Pretty much the whole world thinks that penny stocks are scams — like there’s no money to be made.
Little by little, I’m putting cracks in those ignorant assumptions.
With every new milestone student, I’m reminded it’s not about the number.
Some of my students start with $1,000 or $2,000. I don’t think you realize how many trades, and how much effort and hard work it takes to get from a thousand to a million. But it’s not impossible. (Potentially, if you work hard and study. My results aren’t typical. I’m not a financial professional.)
That’s what I love showing the process. Every single trade. You can look up GarseeTrader on Profitly and see every single trade. Do not trust anybody who doesn’t show every single trade and the details of how much they’re using on a trade. Demand transparency.
Why is it so important to get the details?
I see some traders posting things like “I made $50,000!” and they show one screenshot. But if you’re using $600,000 or $800,000 to make $50,000… or you risked losing $100,000 at one point and the trade came back…
…maybe you got lucky this time.
That’s not what I teach and I don’t recommend it. It’s a great way to blow up your account.
Rely on the Process
You can’t rely only on overall profits. GarseeTrader earned his milestone with small gain after small gain — and smaller losses.
Still, it’s an example of quadrupling an account in a timeframe that can’t be matched using mainstream strategies like mutual funds. It can’t be matched investing in long-term blue-chip companies, I’m sorry.
To quadruple your account that way it’s going to take a decade, maybe even two. This is happening in a few weeks or a few months. Or a couple of years. And I’m not saying this is easy, fast cash. This is not a get rich quick scheme, okay?
Go over to Profitly and look at GarseeTrader’s progress. Do it. The first leg up took a long time. But when things started to click, they clicked. Now it’s up to GarseeTrader to maintain his focus. It’s up to him to stick to his trading plans and continue to be as careful with risk as he has to this point.
But because he’s followed a process to get to this point, he has a process to use for the next part of his journey. He has more funds to work with because he’s earned them. So things start to change. He can take bigger position sizes as determined by his risk management system (RMS).
The lesson from GarseeTrader: In the beginning, don’t worry about the money. If you study a lot and the money isn’t that big in the beginning, you’re learning the process. Once you learn the process, it’s rinse and repeat, rinse and repeat.
The Ongoing Education of a Trader
GarseeTrader studied like crazy for years to get the knowledge to be able to do this. He started with me back in January 2015. He didn’t even make his first trade until July 2017! Talk about patience. At first, he didn’t even trade — he studied.
When he did start trading he didn’t make much at first. He reported losing on 5 of his first 6 trades. But he learned the process. And he continues to refine his process.
This is super important. He hasn’t learned “just enough to be dangerous to himself and others.” He’s learned a process which he continues to refine. It takes time.
FOR EXAMPLE: The exact same process used to go from $2,500 to $10,000 is the same process that could possibly be used to go from $10,000 to $40,000.
It’s not going to be overnight. It’s not going to be easy. You have to wait for the right plays. And this isn’t an exact science.
What are the right plays? The best bet is finding a hot sector.
But sometimes there might not be a hot sector. Or it might Bitcoin… or the weed sector. But you learn what the good plays are — like GarseeTrader. Then you learn to have patience for those good plays. You learn to grow your account exponentially over time. That’s what’s possible with enough patience.
I love showing you example after example of successful students. No matter whether they report becoming a millionaire or a six-figure student. Or quadrupling their small account. They’re all proof to me that the process works.
You must trust the process. Sometimes reaching your goals can be a long and arduous journey.
But the knowledge gained from trading… the potential freedom… that lasts a lifetime. A lifetime.
— Tim Sykes
Editor, Penny Stock Millionaires