{I love} writing {blogs} on holidays, like {I did so} HERE {a couple weeks} ago…great days {to check} back from lessons of {days gone by} {also to} look forward too.
{This is a} short PDF {of the} post.
Happy Father’s Day {to all or any} {the fantastic} fathers out there…it’s {a hardcore}, tough job, but {because of} all your {effort} {we’ve} more incredible people {than ever before} and it’s {because of} you {as well as your} commitment!
Here’s what {I acquired} my amazing dad for Father’s Day, having him {get rid of} {the initial} pitch at the Red Sox game at Fenway Park to his favorite player David Ortiz {a couple of days} ago:
{It had been} {a|a really} memorable experience and him and his friends won’t stop {discussing} it anytime soon…which was my goal because {my father} is literally {the very best} dad ever!
This weekend, I also posted {a fresh} video here:
Celebrating new messages {I simply} got from 2 trading challenge students Jeff:
Account finally reached the $100k mark {because of} you! @timothysykes
– Jeff (@JHa808) June 18, 2016
@choover9512 thanks. It’s been fantastic. Lost {a whole lot} {initially} then something just clicked. Averaging little over $10k/month
– Jeff (@JHa808) June 18, 2016
…who just passed $100,000 in profits** and {a mature} trading challenge student NH who just passed $300,000 in profits**:
And besides congratulating them {on the} great gains, {I’d like} {one to} read their comments closely, BOTH {OF THESE} LOST {INITIALLY}, {HOWEVER THEY} DIDN’T {QUIT} {PLUS THEY} LEARNED FROM THEIR MISTAKES {TO ACHIEVE SUCCESS} {AS TIME PASSES}!
{This is actually the} {most significant} millionaire characteristic: patience and perseverance.
{Just about any} great trader I {speak to}, {out of this} guy {to the} veteran had confusion, issues and losses {initially} {of these} journeys, {however they} stuck with it {and today} have made truly impressive gains {since}.
If you’ve read this book, you’d know I lost $500,000+ (and {almost all} my credibility too) early {in my own} trading career, and {initially} I was very angry {about any of it}, {however now} I’m very thankful because its helped me {become} the conservative trader and teacher {I’m} today.
I’m {not just a} father yet, but {I understand} many fathers who made mistakes {in early stages}, but gradually learned {how exactly to} be better fathers {which} evolution {isn’t} unique to just {trading} or fatherhood…it’s life…and {way too many} people {quit} {prematurily .} on various hobbies, professions, relationships etc. all {since they} don’t {show patience} and perseverance, thus {removing} any chance at becoming {the very best} {a couple of years} later.
{Etc} this Father’s Day, don’t make that mistake…try {to check out} my trading rules, try {your very best} {to understand}, but {even though} you screw up, don’t berate yourself, {remember} it’s all {section of the|area of the|portion of the} process and early losses help mold you!
I’ve also transcribed the video above for my valued deaf students since it’s SO {vital that you} remember this:
Hey, Tim Sykes here. {I understand} it’s the weekend, but {I simply} got {some very nice} tweets and emails from students, who I haven’t heard from in {a long time}, {however they} just passed some milestones {plus they} wanted to {i want to} know. I thought {this is} {an excellent} excuse {for me personally} {to speak about} {getting the} proper expectations and {getting the} proper mindset because, while {I really do} have several millionaire students** {and today} {increasingly more|a lot more|a growing number of} students are {approaching} on six figures**, I {obtain the} question {nearly the same as} “{MUST I} quit school? {MUST I} quit my job? {MUST I} just {get into} trading full-time {immediately}?” {The solution} is no. {The solution} is hell no.
Here’s Jeff. Just reached 100,000 mark** net {because of} me {that is} cool. {I QUICKLY} got {a contact} also from my student NH, who doesn’t want his name public {since when} you {discuss} money publicly, it’s really {sort of} weird. He emailed me, “Tim, what’s up? I was {challenging} student in late 2013 {in to the} start of 2014. {Through the} first year, I {were able to} wipe my account five or six times though I never stopped learning from my mistakes and {from your own} teachings. {I’m} not {searching for} {one to} publish it though {I must} {give you thanks}. Today, after roughly {3 years}, I hold {a merchant account} of 320,000**. I owe you {a lot more than} {imaginable}. Bought {a residence}, bought my dream car. {I simply} wish {more folks} understand that {you’re} real. {Many thanks} and please {usually do not} publish it or {should you choose}, remove my name. {Many thanks}, mate. For real.”
NH, {many thanks} {because of this} great email, and I’m glad that you shared your downside, too, {in order that} people {really can} understand. {I understand} that {you want} that {more folks} would {recognize that} I’m real. It doesn’t bother me, okay? I show giant stacks of cash. I trade {very cheap stocks}. “The Wolf of Wall Street” was a gigantic, successful movie so {many people} {believe that|believe} I’m not doing anything. I’m just scamming. {Do you know what}? It doesn’t matter {what folks} who don’t study think. {I understand} that there’s gonna be hate and that’s fine. I accept it. The cool thing, though, is that because I {will have} enough video lessons, webinars, DVDs, {and today} {increasingly more|a lot more|a growing number of} successful students, {that are} also teaching, {those individuals} who do study, {those individuals} who do {desire to} change their life, they do {recognize that} I’m real. So all {that counts} {if you ask me} is that {the proper} people understand and {everybody else} can basically think whatever {they need}. I’m not {thinking about} non-students.
{Moreover}, read this {aloud}, {those} sitting {in the home} or wherever you’re watching this video. “{Through the} first year, I {were able to} wipe my account five or six times, though, I never stopped learning from my mistakes and {from your own} teachings.” Okay? {Which} other student who tweeted me, Jeff, {is a} student {for a long time}, too. I don’t know {just how} long but {many years}. NH was {students} {3 years} ago {and today} he’s made 320,000**. {They are} {a few of} my most successful students {who’ve} stuck with it {and lots of} people don’t {recognize that} {it requires} time, {it requires} effort, {it requires} patience, {it requires} failure.
{Those} asking me “{MUST I} quit my job to trade full-time?” {the key reason why} I say no {is basically because} {even though you} hate {your task}, {even though} you’re in the 9 to 5 {corporate jungle} {and you also} absolutely hate it, {at the very least} it’s {a reliable} income. I’m not blind enough or naive enough {to believe} every trader’s gonna {ensure it is}. Most traders, {in the event that you} look at studies, {lose cash}. We’re talking 85, 90, 95% of traders. {Therefore the} vast majority {of individuals}, {regardless of what} you trade, whether it’s {very cheap stocks}, Forex, options, stocks, doesn’t matter. {The main element} is {knowing that} {the chances} are against you. So {usually do not} {give up} {a reliable} paying job because {we’ve} bills in life. You gotta {purchase} food, rent. {I assume} Uber {helps it be} easier now with {an automobile} but there’s still bills.
Trading {can’t be} {and really should} not {be regarded|be considered} as {a method to} {create a} {bundle} really quickly {to cover} your bills. {Just how} that trading {ought to be} {viewed} and {just how} {that you need to|that you ought to} look at your trading education is that {even though you} do lose in the beginning…NH, when he says {he} wiped his account five or six times, it wasn’t {quite definitely}. He lost {several} thousand dollars {a period}. {Several} thousand here, {several} thousand here, {several} thousand there, and he was also breaking {lots of|plenty of} my rules. Rule {number 1}, cut losses quickly.
I don’t have {plenty of} students who {get rid of} their accounts, but NH {is a great|is an excellent} example {showing} you you’re gonna lose {a lot} {initially}. Even my top student, Tim Grittani, {discusses} how he was studying straight for {90 days} {and} trading for {half a year} before he even got any consistent profits. {And that means you|Which means you} {need to} think, NH…this is {3 years}. I don’t know. I told him {to create} {a far more} detailed story of explaining how he {surely got to} 320,000** but {that is} roughly 100,000 dollars {each year} over {3 years} and this {is an excellent|is a good|is a superb} success. {If you} {curently have} {employment} that’s earning 30, 40, 50, 60,000 {per year} but it’s solid and it’s steady, obviously {you may get|you will get|you can find|you can obtain} downsized, the economy isn’t great, but {at the very least} it’s {profit} {the lender}.
Study trading {during the night}. Study after-hours. Don’t {day} {friends and family} one night, take two hours. Don’t watch Netflix, don’t play {video gaming}, don’t {visit the} club. There’s {lots of|plenty of} {items that} we {do this} we don’t realize {is really a} huge time-waster. I’m not saying {turn into a} priest {rather than} {have a great time}, but {consider} about exchanging {a few of} your entertainment time for studying time, and especially on weekends. {I simply} {swept up} on literally {8 weeks} of emails. It took me about six hours {today}. I woke up early, but {I’m} {up to now} behind on emails, and I used the weekend to catch up {as the} market isn’t open.
{For you personally} guys, don’t even {be worried about} trading profits {initially}. {You need to} {concentrate on} the long-term. Losing {a couple of hundred} dollars, losing {several} thousand dollars, it sucks. I’m not gonna say it doesn’t. But it’s not {the finish} of {the planet}. {You have to|You should} tinker, {you have to|you should} test, {plus some} {of the greatest} lessons {that you could} have are from losses. Just keep {all this} {at heart} when you’re {considering} {attempting to} make {all of this} money {immediately}. {I’d} much rather you trade small {as well as} paper trade {initially} and get {more comfortable with} the patterns. You remember, we’re trading {probably the most} volatile stocks {on the planet|on earth} so it’s scary.
{Many people} {haven’t} traded anything {and} I’m telling people “Oh, trade these {very cheap stocks}.” {Lots of|Plenty of} {financial specialists} {believe that|believe} I’m crazy. They {believe that|believe} nobody should trade {very cheap stocks} at all, and average people can’t handle the volatility. {I believe} I’ve been proving that wrong {when i} have more {and much more} successful students. The volatility in {very cheap stocks} {may be} great but {do you know what}, those safe mutual funds lost 50% in {per year} or two {just a couple of|just a couple|a few|only a few} {years back} so {there is nothing} safe in finance and anyone who {lets you know} that is {filled with} shit.
What {I’m} here {to inform} you is {these} people, whether you’re making 320,000** or you’re like my student Jeff who just passed 100,000*, {the amount of money} {can truly add} up {as time passes} {in fact it is} life-changing but {plenty of} you guys {need to} just {overcome} your {concern with} losing {a couple of hundred} dollars {or perhaps a} few thousand dollars. {You have to|You should} think in the grand scheme of things.
{I understand} that there’s {many people} {which are} like “Oh, Tim, you have so much money. You don’t {value} $2,000.” {A long time ago}, I only had {several} thousand dollars to my name too. I wasn’t some trust fund baby. I wasn’t born with {huge amount of money}. I earned {each and every} penny, okay? {THEREFORE I} respect every {little bit of} money, every {tiny bit}, whether it’s $200 or $2,000. {Nevertheless, you} need to {recognize that} in your tinkering and in your testing period and in your developing growth {amount of} knowledge, {if you have} {a little} account, {you need to} expect that you’re gonna lose.
If {he} NH, who makes 300,000 after three year**s, blew up his account five or six times {and today} he’s {successful}, think about {all of the} {individuals who} aren’t successes, {plus they} just {inflate} their accounts, {plus they} don’t keep learning. {This is actually the} key. “Learning from my mistakes and learning {from your own} teachings.” You {will have} to be {considering} learning even through the losses. Sadly, {way too many} people {quit} when they {involve some} small losses, {you understand}?
Did {you truly} think that {it had been} gonna be {an easy task to} {achieve success}? You thought that there {will be} no losses? You thought {you could} just copy all my trades? That’s incorrect. {Most of} my top students don’t copy my trades. {Do not require} do. {They’re} self-sufficient. What I teach, and I specifically say this in practically every video and every watch list and every trade alert, don’t chase alerts. Don’t follow anybody’s alerts or anybody’s picks. {The reason why} I share them {would be to} show you {helpful information} of how I’m thinking. Why am I {engaging in} a trade? Why am I {escaping .}? What {may i} {did} better?
When I’m exiting the trade, it’s {nothing like} oh, {I simply} mention the ticker and {the purchase price} and I sell. {I understand} {there are a great number of} chatrooms and newsletters where they just mention the ticker and {the purchase price} {also it} seems {very easy}. {For me personally}, I’m {a lot more} interested in {the technique}, in the strategy, in the thinking. This weekend, I’m actually {focusing on} my new guide. It’s gonna be called “Trader Checklist” with the seven key indicators that I look at {each and every} trade before I risk my hard-earned money. And {I believe} {that you need to|that you ought to} be that meticulous, too. {And that means you|Which means you} gotta learn, there’s no easy {solution to} learn.
It’s {no} exact science of learning. Trading {isn’t} {a precise} science. Even my top student, Tim Grittani, {has already established} several big losses {on the way} that’s helped him develop {however now} he’s closing in on $3 million in profits** in five years. NH just passed 300,000** in {3 years}. {I’ve} several students, like Mark Crook, who just passed 500,000 in five years**.
{I want to} just throw that {on the market}. I know {I’ve} “The Millionaire Challenge” but {do you know what}, the “Millionaire Challenge” {is about|is focused on} learning {how to be} successful {as time passes}. {This is simply not} a {get rich quickly} scheme. {I understand} {lots of|plenty of} you guys {desire to} {create a} million dollars {immediately}, but I’m sorry, I don’t {understand how to|learn how to} {do this}. It even took me {a couple of years} {to create a|to produce a} million dollars**. {It had been} roughly two-and-a-half years in and {that has been} {through the} bubble {back} ’99 and 2000. Then my second million took another {several} years**. {And that means you|Which means you} {have to have} {the correct} expectations.
Sometimes, I see {many people} hold these {very cheap stocks} for days {as well as} weeks {plus they} {try to} make 2, 3, 500%. Sometimes they nail it, especially lately, the market’s been {burning}. But the {the greater part} of time, {in the event that you} {choose} home runs and grand slams, you’re gonna fall flat {on your own} face. {For me personally}, I’d much rather {choose} singles and doubles {if you want} my baseball analogy.
But {I really like} hearing from students so {many thanks}, NH, you made my day {scanning this}. This is {for me personally}. {The complete} first part is {for you personally} guys {showing} you what’s possible {also to} have proper expectations. {That is} {for me personally}: “I owe you {a lot more than} {imaginable}. Bought {a residence}, bought {a fresh}”…well, {I assume} that’s {for you personally} guys, too. “Bought {a residence}, bought {a fresh} car. {I simply} wish {more folks} would {recognize that} you’re real.”
Again, NH and {everybody else} {on the market}, don’t clutter my inbox saying, “I wish {more folks} would {recognize that} you’re real.” I’m really not offended. Remember, my first millionaire student, Michael Good, wrote a {post} about me called “Timothy Sykes is {filled with} BS.” {It is possible to} google it. {He then} gradually learned through my video lessons and DVDs {and today} he’s made nearly two million. So anybody who hates, anybody who criticizes me, there’s still {expect} them because all {they need to} do is {deposit} their hatred for {another} and say “Wait {one minute}, {i want to} actually look at what Tim {says}. {I want to} actually watch his video lessons. {I want to} actually {start to see the} strategies.”
{Most of the} {individuals who} criticize me, they criticize me {due to the} way that I flash around cash and my car and {things like} that. {Nobody|No-one} says shit about my strategy {no longer working} because shorting pump-and-dumps {on the} first red day {works wonders}, because buying earnings winners that {use} past weekly or monthly resistance {works wonders} on the long side. {And that means you|Which means you} {need to} look at what my critics {say}. They’re not saying anything about my actual strategy. They’re not saying anything about my actual teachings. {They’re} just {discussing} my flash. And that’s unfortunate {since they} haven’t done the {homework} to {note that} the strategies that I’m actually teaching, {without} perfect because {nobody|no-one} {is ideal} and {there is nothing} perfect in the {currency markets} or in trading, {at the very least} they’re real. {You can observe|You can view} it {over and over}.
I encourage {some of} {one to} not {trust me} {or even to} even bet against me and {observe how} you do because everything I teach has been refined {for pretty much} {twenty years}. I’m not pulling rules out of my ass here. I’m {not only} making stuff up {on the way}. I’m {attempting to} {demonstrate} what I’ve learned in nearly {2 decades} of time-tested strategies, and it’s {in my} best interest {to cause you to} successful.
So congrats to NH, congrats to Jeff. {In the event that you} guys can retweet this and favorite it…oh, we got {even more} {previously|during the past} {short while}. That’s good. Show some community support {whenever a} student does {effectively}, {whenever a} trader does {effectively}. Profitly has nearly 100,000 members now. Very {pleased with} that and we’re very {pleased with} {every single} student who gets it and who {gets the} proper mindset.
Remember, Jeff {didn’t} just reach the $100,000 mark** easily. He said “finally” reached it. It’s been {many years} and he started small and that’s okay. And NH {many years} {to create} 300,000**. So have {the correct} mindset, don’t {give up} school or jobs. Good work, good studying, that {takes care of}, too. {However in} your {free time} and {during the night}, I don’t care what you’re doing, you have {a couple of hours} a day {to review} my lessons and see. And don’t even {be worried about} {in the event that you} miss a trade here or there. It’s {about} education.
The {currency markets} is forever, {your complete} life, so it’s {only a} question of {are you currently} gonna {be ready for} {another} opportunity or not? It doesn’t matter {in the event that you} stop studying, it doesn’t matter {even though you} blow up {initially}, {so long as you} keep learning and keep {improving}. {It is a} marathon {not just a} sprint.
{I understand} {that you would like|you want} {to create} money {immediately}. Trust me, {I’d like} that, too. But that’s not {how it operates}. I’m {nothing like} a lotto teacher. I’m not teaching you {ways of} win the lotto. {And when} you look {for the most part} lotto winners, they’re screwed up in {the top}. They can’t {cope with} so much money so quickly, {particularly when} it’s not earned. They commit suicide. {Their own families} have major issues. They get robbed. They’re not prepared {your money can buy}. {THEREFORE I} know {when you} want {the amount of money} right away, {consider it} as it’s {something special} to have {additional time} {also to} develop {also to} {feel the} struggles. Money earned {as time passes} over {many years}, especially {once you have} some losses or some heartbreak {on the way}, {it creates} it that {a lot more} gratifying {once you} do succeed eventually.
I’ve had some big losses {on the way}, too. It’s not that I’m perfect. I lost over $500,000 {a long time ago} on an investment because I {committed to} my best friend’s dad’s company. They basically invented print at-home ticketing. I was right {concerning the} technology. I was wrong {concerning the} company because {I did so} not use my trading rules. {At that time}, I didn’t even recognize or value how my trading rules had made me money. I didn’t differentiate between trading and investing. {And you also} better believe it, a $500,000 plus loss and losing all my credibility with {family and friends} because I thought {that} was a sure thing, well, that’ll wisen you up.
{Therefore the} losses and the failures {you have|which you have} {on the way}, they {cause you to} smarter. After my big loss, I was dejected. I was drinking. It sucked. But I {began to} look at what {I did so}. I started learning from my mistake, {in the same way} NH did. And I said, “Wait {one minute}, this loss was caused because {I did so} not trade by {the guidelines} that had made me {all of this} money.” {THEREFORE I} {returned} and {viewed} and {I must say i} wrote down and refined {the guidelines} that I now {educate you on}. And I saw, “Wait {one minute}, investing {differs} from trading. No wonder why I lost so much money. {I acquired} {from} my bread-and-butter patterns.” So {for you personally}, {you need to} learn {what realy works} best {for you personally}.
{A few of} you guys watching this, you’re gonna be better investors than {you’re} traders if you’re patient, {when you can} {do} the {homework}. That’s fine. {Remember} {that a lot of} investors {neglect to} beat the S&P 500 {each year}. They {neglect to} make 10 or 20% {each year}. So if you’re an investor…I mean, 10 or 20% {each year} for me {is really a} joke, but if you’re an investor, {recognize that} that’s {a hardcore} game, too. {You need to} find {what realy works} best {for you personally}. {We all have been} different. {We’ve} different personalities. {The key reason why} I make so many video lessons and show {a wide variety of} examples {is basically because} I don’t know what’s gonna {help you to} click.
{I could} {let you know}, “Don’t expect {all of this} money {immediately}. Don’t quit {your task}.” {Nevertheless, you} might say “Ah screw it, Tim. I’m just gonna {take action}.” Well, hopefully {I could} show you {several} {types of} people losing their money like NH {and} {returning}. Or people like Tim Grittani, where he’s arguably {the very best} trader {on the planet|on earth} performance-wise {previously|during the past} five years {also it} took him nine months to even get consistently profitable.
{THEREFORE I} {may bring} up examples, {I could} make video lessons {such as this} where I’m gonna lose my voice, but it’s {your decision} {to understand} and it’s {your decision} {to create} it work {in your mind}. Whether {you would like to|you need to|you wish to} buy earnings winners or you wanna buy pump-and-dumps, I don’t care. All {I could} do is {demonstrate} patterns and rules {which have} worked {for me personally} {through the years}. I’m glad that students like NH {and today} Jeff are reaching some cool milestones.
That’s my weekend video lesson. I’ll see you guys in the chatroom tomorrow…or {I assume} Monday. Come early, 9 a.m. Eastern. {Prepare yourself} because we’ve seen {lots of|plenty of} stocks spiking right at {the marketplace} open and my chatroom now has over 1,000 traders {inside it}, {the biggest} chatroom that {I understand} of, and we’re all sharing ideas of stocks {that may} spike. So it’s probably {your very best} resource {at this time}.
Timothysykes.com/plans. {Subscribe} there {if you would like} in on the chatroom. {Many thanks}.