I hope you enjoyed Memorial Day weekend and educated. Remember, most success comes with time. So when you have a day off from trading, use it to build your knowledge account.
Day after day, you need to focus on studying FIRST and then trying to make money afterwards. Too many people want $, fame, and success without investing the time and effort to make it the hard way. FUCK this company with instant satisfaction, the best things take time to deserve so be patient!
– Timothy Sykes (@timothysykes) May 28, 2021
There is no overnight success. What can you do today to accelerate your learning curve? What can you do today to prepare for next week or next year?
Read on to learn more about the “learn before you earn” mindset. First…
Karmagawa proudly announces the Mariana Hincapie School
I am proud to announce the opening of Karmagawa’s 86th school project in honor of my first millionaire student, Mariana. *
⚠️NEW KARMAGAWA SCHOOL ALERT! ⚠️I am proud to announce the 86th Karmagawa School in honor of my first female millionaire student @mari_trades which has been in my https://t.co/occ8wKmlgm program for 3 years and passed the trade profit mark of 1 million US dollars a few weeks ago! pic.twitter.com/RCEkzi2f4A
– Timothy Sykes (@timothysykes) May 28, 2021
Every school project comes one step closer to our goal of 1,000 schools. Like and share the tweet. Help spread the word. A school and a student at the same time, we can Make a difference!
I am also proud to announce …
Karmagawa donation to the Žarkovica animal shelter in Dubrovnik
We are proud to donate to the Žarkovica animal shelter, which houses an average of 300 dogs. You are doing a great job and you need support.
– Timothy Sykes (@timothysykes) May 27, 2021
Visit the website of the Žarkovica animal shelter. Here too, help us spread the word by sharing it on social media.
Let’s talk about trading …
Learn Before You Earn
I love when my students post small wins or losses on social media and promoters try to rip them apart. It is wonderful. The promoters don’t know that I’m actually teaching students to start small. Engaging with a student who trusts the process shows the promoters’ misguided mentality.
you should Start small, build trust and gain experience. I encourage you to post your small gains and losses on social media. Then watch the unethical promoters go after you. Ignore them and trust the process. Believe in small profits.
Every small profit or loss is a deposit into your knowledge account. Start trading small enough that you can forget about the money. Then you will learn the lesson from each trade. Come up with a mindset of …
Learn Before You Earn. This video should help …
How Two Words Can Make You a Better Trader
You don’t even need to take notes, just repeat after me …
Repeat this every day. Tell yourself once an hour if necessary. Now is the time for …
Trading Mentor: Questions From Students Question
This week’s first question comes from a college student who has studied so much that he is almost afraid to trade. It’s not that bad at first. Trading is scared so trading isn’t scary …
“I’ve been studying for the past three months because I haven’t felt ready yet. Now I’m afraid to act. How do I defeat these demons? “
Paper trading or trading 100 stocks. The money you make or lose in the beginning will not change your life. I’m sorry that bubble burst.
Tim Gritani didn’t do anything in his first nine months. Jack Kellogg didn’t earn anything in his first 20 months. When you learn not to expect anything in the beginning, you won’t be so scared. Then you can gain experience trading 100, 200 or 500 stocks.
If you look at my top students, they all started off small. They made or lost $ 10 or $ 20 per trade. So keep the overview. Remember, learn before you earn.
“What’s stopping most people from becoming millionaires?”
Many people have the desire, but they lack patience and proper training. And, dedication plays a major role…
You need to realize that it is the most frustrating and difficult at the beginning. Most of them give up. When you study right, it seems like you can’t make enough money. It is what it is…
You have to go through difficulties at the beginning. You have to go through the tough things. It gets easier with time. But I should warn you …
It’s not a straight line. You can’t expect day 56 to be easier or better than day 33 of your trip. Sometimes you have to take a step back.
You may be thinking “Hey, I have that …” and get cocky. You could bet too big. Or, break your trading plan and hold on for too long. Then the market humiliates you. Suddenly you’re not as smart as you thought you were. But the lesson you learn will help you act smarter over time.
It sounds weird, but sometimes you have to lose. You have to take a step back or suffer losses. You have to go through the battles because that is what can help you get to the next level.
“How do I keep my share curve in an uptrend instead of sideways?”
Change your perspective …
Don’t worry about your equity curve. Take it one trade at a time. Think “I have to earn $ 500 …” or “I have to let my share curve grow” is BS. You have to think about the market and trading in a counter-intuitive way.
You have to accept that you cannot control the market. Sometimes you will lose. Sometimes the market will be slow. And sometimes you have to go backwards to move forward over time. Once you accept that, it becomes easier.
Last question for this edition of the update. That keeps coming back …
“Why are you using your old laptop?”
I’ve been using my new laptop for three days in a row. That was when the market fell. I shouldn’t be superstitious. And deep down, I know my laptop has nothing to do with the market, but I can’t help it.
Now I’m using my old laptop and we’re seeing some solid games. I wouldn’t be surprised if this is a simulation. Elon Musk could be right. I can’t explain it, but I’ll be using this old laptop for as long as possible now.
This week’s trading review features three trades on a stock. The first one was actually my best trade from two weeks ago. Remember, every trade has a lesson. This is why you MUST review your trades.
Majic Wheels Corporation (OTCPK: MJWL)
At the beginning of May, Majic Wheels announced its entry into the fintech sector. This news triggered a steady upward trend.
On May 21, the company announced a $ 150 million blockchain acquisition. Then, around 3:15 p.m. Eastern, the company tweeted “… more details next week.” That turned what was already a big percent winner into an even bigger upcoming news game.
Here is the MJWL card from May 21st with my entry and exit. It also shows when the news was posted and when the company’s tweet was posted.
As you can see, the stock was already up and consolidating. And it was already breaking above the previous day’s high when the company tweeted. But the tweet, alerted by StocksToTrade Breaking News, got the stock up.
I considered holding MJWL over the weekend. But when it hit my goals, I was happy to win the single for a profit of $ 2,236. * Since it didn’t close heavily, I was happy not to have to worry about it over the weekend.
The next two trades were on May 24th. And the second of the two was my biggest percentage win last week …
Focus on multi-day runners
If I teach students to focus on big wins, it’s not just for a day. You should look for the big percentage gains over two, three, or five days. When a stock proves it can run, it opens up many possibilities.
MJWL continued on Monday. Traders who saw the news over the weekend were excited and made for a big morning surge.
Here is the MJWL diagram from May 24th with my entries and exits …
The first trade on the chart was a partial fill on the break from the highs. I missed the starting tip. It bounced back near the highs but not much more so I took the single just to be on the safe side.
After MJWL pulled back and recovered, I bought the breakout above the previous day’s high. It was a 22% gain for a $ 2,484 profit and a solid start to the week. *
Millionaire Mentor Market Wrap
Trading is something that has to be learned for life. But the hardest part is at the beginning. Most newbies see others making money on social media or in the chat room and think it should be done quickly.
Change your perspective to one of learning first. Then trust the process. Learn Before You Earn.
You have two options …
Trust the process and don’t worry about how much you will make in the beginning. Or believe the promoters, liars and scumbags who tell you trading is easy.
If you want to trust the process, start here …
30 day boot camp
The 30 day boot camp covers all the basics of my strategies. I recommend all students to watch it several times. It covers important basics that make everything else more meaningful. Start your 30-day boot camp today.
Then when you are ready …
The Trading Challenge is my most comprehensive educational offer. You get access to so much information that you may feel overwhelmed at first. Just like trading, the trading challenge is one day at a time. Use it to build your daily study and trading habits. Apply for the Trading Challenge today.
Are You Ready To Learn Before You Earn? If so, comment below with “I’ll focus on learning first!”
Disclaimer of liability
* Mariana and Tim’s trading results are not typical and do not reflect the experience of the majority of the Trading Challenge participants. From January 1, 2020 to December 31, 2020, typical users of the products and services featured on this website reported an average of an estimated profit of $ 49.91. This number comes from tracking user accounts on Profit.ly, a trading community platform. Timothy Sykes has a minority stake in the platform.