Trade against family. Do you just have to choose one?
No way! Many people manage both on a daily basis. How do they make it work?
It’s about flexibility. When I talk about customization, I’m not just talking about changing your trading strategies or the sectors you trade in.
Traders need to go with the flow when life events occur too.
It’s a topic that has come to my mind since my millionaire student turned options trader Mark Croock * and just welcomed his third baby. Mazel tov!
Mark started trading before he had children – he had to adjust to accommodate his growing family.
It is not always easy to reconcile business and family. But as the students featured in this post prove, it’s possible – it’s about being clear about your priorities and buying time for what’s important.
Is it possible to be a trader and have a family?
Yes. Many of my Trading Challenge students have families – traditional, nontraditional, and everywhere in between.
I just mentioned Mark Croock … he managed to develop an educational program for options trading while supporting his family at the same time. I am incredibly proud of what he has achieved as a trader and am happy about his new addition …
Sorry no @ thehonestcroock Webinar today for https://t.co/occ8wKmlgm students, as he just had a new baby today, please tweet this again and congratulate him on this lovely addition to his family! We love you Mark, congratulations on this incredible new blessing, Mazel, Mazel! pic.twitter.com/0NWAMQOlFp
– Timothy Sykes (@timothysykes) May 6, 2021
Some other top students also have families.
For example, my top student Tim Grittani, who made over $ 13.5 million * in profit at the end of May 2021, has two children.
Michael Goode, my first millionaire student and former hater, has a wife and a child.
My millionaire student Roland Wolf, who passed the million dollar mark * in 2020, has three children with his high school sweetheart.
Is there a family holding them back from realizing their full potential as a trader?
Not at all. I think it inspires them to work harder and act smarter.
Here’s why a family can actually be good for traders …
How Family and Community Help Merchants
Remember, what is classified as a “family” is different for everyone. For example, to me family doesn’t just mean relatives. It also means my trading community …
Whether your family is traditional or nontraditional, here are some of the benefits of being a close community …
A source of motivation
For many of my students, family is a strong and continuous source of motivation.
Possibly even more motivating than my daily study reviews …
9.47 p.m. Study check, retweet / favor this if you are currently studying or creating your watch list for tomorrow. Also retweet if you promise to trade disciplined / SAFE tomorrow. No Gunslinging / Gambling BS like too many newbies is tempted – it NEVER ends with time!
– Timothy Sykes (@timothysykes) May 17, 2021
For example, Roland started trading $ 4,000 because he hated his day job and wanted his kids to have a better life.
Here is another example. My student Brock, who has made over $ 945,000 in trade profits * as of mid-May, is trading so he can improve the lives of his children.
Talk about long-term exposure. He spent years studying and trading without showing much in terms of profits … but when things started to click, he got parabolic. Just look at his winning card * …
The family also motivates aspiring traders. For example, my student Chris already had a job he loved. But he wanted to give his children more security.
After trying to trade alone and making a number of losses, he applied for my Trading Challenge. It officially launched on February 12, 2021. As of March, it had “benefited enough to cover the cost of the challenge and a few more”. *
One reason to stay safe
My # 1 rule, now and forever, is to reduce losses quickly.
For many students with families, dealing with losses is extremely important. Eventually, if they lose, it can affect their loved ones.
It’s a simple fact: Trading decisions are more serious when other people are dependent on you.
For many traders, this is a compelling reason to avoid doing stupid things.
Every trader has losses – including me. You have no control over whether you win or lose. But you can control the size of your losses …
Freedom to spend time with family
Trading is not all about money for me. It’s about giving something back and Freedom.
Trading enables me to live the kind of life I want. I can travel and trade from anywhere. **
For many of my students, commerce offers a solution that gives them more freedom and time to spend with family and friends.
Take, for example, my student Sandra. I presented them in my student summary for the Trading Challenge. It currently has a trading profit of over $ 28,000 in mid-May. *
Sandra worked a demanding job that kept her from spending the time she wanted with her daughter. It also prevented her from visiting a family in Germany.
She wanted a job that would give her a more flexible lifestyle and schedule.
Sandra says: “The trade has proven that it ticks all the boxes! I actively swap in the morning and back again at power hour. During the day I watch the markets and the chat room. I’m home when my daughter finishes school and I don’t commute to an office for hours. “
Recently she was able to spend a few months in Germany. Not only did she have a good time with her parents, but she was also able to act as usual, even though she was abroad.
A way to give something back
When I started to thrive as a retailer, the first thing I did was buy my parents’ dream home. I love that I could.
More recently I have dedicated a school to my mother:
I wish my mother, the best mother in the world, a happy Mother’s Day and it is an honor to surprise her with a school in her name, the Jo-Ann Sykes School! While I can’t be with her in person on this special day, I’m proud to announce the 81st @ Karmagawa School in her honor when she ROCKS! pic.twitter.com/H7UqL3DEvV
– Timothy Sykes (@timothysykes) May 9, 2021
My family means a lot to me … Without their blessings, I would never have started trading my $ 12,415 cash mitzvah. I may not have become a millionaire dealer or a teacher. *
My life could have been different …
For many students, commerce is an opportunity to give back to their families and communities.
For example, my student Jack Kellogg, who made a trading profit of over $ 6.7 million * in mid-May, recently made an extremely generous gesture on his birthday. He gave his parents $ 50,000 each!
He realized the sacrifices his parents had made to support him growing up … It was his way of showing appreciation. Don’t miss the whole story!
Another story I’ll never forget? When my student Paul bought his mother’s house for cash with his trading profits. * He wanted to thank her for always being there for him …
Here is a video from my https://t.co/EcfUM6l2S3 student Paul surprising his mother with a new house after a record in 2020 … how cool is that ?! I really love to see this as we should all treat our parents with gifts like these after working our butts off for years to succeed! pic.twitter.com/j6RjwB1dyd
– Timothy Sykes (@timothysykes) January 10, 2021
Talk about three very good sons!
Compatibility of family and trade
How do retailers reconcile family and retail? There are only so many hours a day …
Once again, it’s about adjusting and figuring out what works for you.
Look at my student Tessa, who was also featured in my Student Roundup of the Trading Challenge. She is one of the most dedicated students I have. She is also a single mother with a very young child.
For Tessa, it’s about getting the most out of her son’s natural rhythm and technology.
She says, “My son’s sleep schedule allows me to take part in the hottest parts of the market. both the first and the last hour of the trading day. On busy days, the mobile cards are my friends. Since my son is young, trading allows me to spend all of my time with him, which also allows me to influence his financial education, which he won’t learn in school. “
Sandra, who I talked about earlier, adjusted her strategy to her schedule. She’s still working part time and working on an online degree so time is short.
However, these time constraints also force them to focus. Sandra only has time to focus on key setups that will work for her rather than trading random patterns that usually lead to losses.
She studies on the go and listens to webinars while walking or driving the dog. As she says
“I also bought some good quality headphones and currently listen to Penny Stock Framework Part Deux when I work around the house so I can focus better.”
It’s a family affair …
There are many different ways to approach trading.
If you ask me, this is one of the best things to get into the penny stick game. It’s not a 9-to-5 job, and there is more than one way to approach the market.
This makes trading accessible to a wide variety of different people. Regardless of your schedule, family situation, or preferred trading style, there is a way to make this work for you.
Of course, no matter what, it will take hard work. You need to invest the study time and dedicate yourself to the process.
Are you motivated and ready to invest your time? Apply for my trading challenge.
How do you reconcile family and business? Leave a comment… I love to hear what you have to say!
Disclaimer of liability
* Please note that my results, as well as the student trafficking results mentioned in this post, are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to act. Individual results vary. Trading is inherently risky. Before entering into a trade, remember to do your due diligence and never risk more than you can afford to lose. I also hired Mark Croock, Tim Grittani, Michael Goode, Roland Wolf, and Jack Kellogg to help in my education business.
This level of successful trading is not typical and does not reflect the experience of the majority of people using the services and products offered on this website. From January 1, 2020 to December 31, 2020, typical users of the products and services featured on this website reported an average estimated profit of $ 49.91.
** Tim’s main income comes from the sale of financial education products and subscription services offered by various companies and websites in which he is involved.