To be a successful trader, you have to be in the game.
That means studying, making a watchlist every day, and taking trades (or paper trading).
It means you have to journal your trades.
And it means you have to constantly refine your process.
But none of that adds up to being profitable.
In fact, you could do everything mentioned above and still be in the red.
There’s a secret, though…
It’s something that almost nobody in this industry will tell you.
It’s a lesson you can’t forget (once you see it, you can’t unsee it).
And it happens all the time with my students…
1 Great Trade Makes Up For Dozens of Small Losses
Would you be willing to lose 10, 15, 20 trades in a row if you knew you could make up all the losses (and more) on one trade?
Let’s say you start with small trades and set your risk at $10.
How long could you stay in the game, losing just $10 per trade?
And how many trades would you be willing to lose before you gave up?
If you KNEW that eventually you would get there, would you stick with it?
Because I’ve seen it dozens of times now.
Something happens.
It’s not like a lightbulb goes off.
And it doesn’t even require you to be a full-time trader.
Many of my students work regular jobs while they’re learning…
But over time, with all that practice, preparation, and refinement…
When the market gets hot…
You’ll be READY.
Right now, the market is hot.
And my students who put in long hours of study watching video lessons…
Asking questions on webinars…
And, yes, taking losses…
Are the ones taking advantage of it.
Imagine what it will be like once you’ve traded through more than one hot market.
Motivation Monday: $50K from Italy
All my millionaire students started small, took thousands of trades and refined their process.
This week I’ve been in Italy with several top students.
We’re hitting the gym, trading, and giving webinars (and eating GREAT food).
But even with my top students who have been trading for years … 1 great trade can make up for a bunch of losses.
One student — John Carl — stayed back from the gym here in Italy. He locked in a $34,000 win on $QUCY after too many round trips.
Now he’s made another $15,000 pre-market, so $50,000 total from the night before in after-hours.
Whew! This market, right?!
Once you have the experience…
And you get on a roll in a hot market…
THAT is when you can start to make big gains in your trading account.
So, my question for you is, are you willing to take the small trades, the losses, and the lessons?
Because if you are, then now is the time to get busy.
It’s not magic. It’s not rocket science. And it doesn’t take forever.
But you will have to study hard.
Preparation is key. In trading, that means getting in the game.
Even if you just dedicate some time every day to studying, things will start to make sense.
We ALL start at the beginning.
If you have any questions, email me at SykesDaily@BanyanHill.com.
Cheers,
Tim Sykes
Editor, Tim Sykes Daily
