Lessons from Steven Dux, My Student with $1.7m Profit!

Steven Dux, my $1.7M Profit Student

{Each and every time|Each time} {I really do} a video with my Millionaire Trading Challenge student Steven Dux, the video goes crazy…this was our first {one which} now has 500,000+ views:

{And today} {another} interview we did {last week} {has already been} very popular…so here {it really is} and {start to see the} transcription below too for my valued deaf Trading Challenge students (also message me here {if you prefer a} deal on his new guide!)**

Download a PDF version {of the} post as PDF.

Tim: What’s up? Tim Sykes, millionaire mentor, and trader here with Steven Dux. Thanks for {arriving at} Miami, dude.

Steven: {Many thanks}.

Tim: Freaking awesome two days. We studied, we learned and we prepared yesterday. Today, you made {just how much}?

Steven: 42,000.**

Tim: $42,000. Now, {what exactly are} you {around} {altogether} profit?

Steven: 1.7.

Tim: 1.7.

Steven: 1.7 million.**

Tim: 1.7 million. {I really like} it. All my top students {they state} like… {You understand}, when Tim Grittani passed 1 million he’s like, “{You understand}, I passed one.” You didn’t pass one, you passed 1 million. Tim Grittani {is currently} closing in on 6 million. You’ve done {all of this} in {2 yrs}. {What’s} your secret? {Reveal}, please.**

Steven: Tim Grittani learned from others {also it} actually accelerated up his learning curve, and I learned from Tim Grittani {and you also}, {needless to say}, to {increase} my learning curve. So that’s why my success rate {is really a} {tiny bit} faster than others.**

Tim: By learning from {other folks}, you can {increase} {your personal} learning curve {is actually} what you’re saying.

Steven: Yes.

Tim: And I agree. That’s {the wonder} of what {I believe} my challenge {is about|is focused on} {as you} have {the benefit of} learning from me, Tim Grittani, Mark Crook, Michael Goode. We’re all making video lessons and webinars. {Just how many} webinars {do you consider} you’ve watched?

Steven: Countless, {at the very least} 200, I’d say.

Tim: Yeah.

Steven: I can’t really remember {the quantity}. I watch them {each day}.

Tim: No, {believe me}, I see you’re studying. What {do you consider} {the largest} lesson that you encountered {on the way} is?

Steven: {You need to} {learn to|figure out how to|discover ways to} be patient, {how exactly to} not get emotional and always {make an effort to} cut losses quickly.

Tim: Rule {number 1}, always cut losses quickly. {I would} {not need} made $42,000 today and yesterday. Yesterday, I had one bad trade, but I made, {I assume}, roughly $3,000 {between your} past two days. So I’m {a bit more} conservative. You’re {a bit more} patient and aggressive. That’s fine. There’s {various ways}. Whether you make 3,000 in two days or 40,000 in two days, both are fantastic.**

Steven: It’s all profits.**

Tim: It’s all profits, right? {Just what exactly} {do you consider} the toughest lesson {for you personally} has been?

Steven: Cutting losses quickly. {I believe} that’s the toughest lesson.

Tim: Really?

Steven: Yeah.

Tim: {And that means you|Which means you} just {allow it} run sometimes?

Steven: Sometimes you’re emotional, says, “I’m gonna {get into} this trade,” and {without the} patterns, {you’re} going {as you} {desire to} go in. {Then your} stock turns against you and {you need to} keep adding and adding. That’s {where in fact the} big losses {result from}.

Tim: What {do you consider} most people, {you understand}, {many people} {get in touch with} you, what do {a lot of people} have {problems with}?

Steven: They can’t control their emotions {since when} they {visit a} stock {rise}, {they would like to} chase it. {If they} {visit a} stock {decrease}, {they would like to} short it. {Nonetheless it} happens {the contrary}. {Whenever a} stock {is certainly going} up, you {are usually|are generally} shorting it because you’re {seeking to get} {an improved} entry. So control your emotions {may be the} best…

Tim: Well, it’s counterintuitive too. {To be able to} really succeed, {you need to do} {the contrary} of {everything you} feel {which is} so difficult, {you understand}?

Steven: It’s {very hard} {due to the} human nature.

Tim: It’s human nature, but {best wishes} lessons. {For this reason|That is why} I say {to be able to} have patience {to hold back} {to get the best|to find the best} trade. {I believe} of myself as a retired trader. I’m a full-time trader. I’m a coach. I’m trading {just about any} day, but {I believe} of myself as, “No. I don’t {have to} trade. I’m only gonna {emerge from} retirement {when there is} a trade that’s {sufficient}, {that may|which will} make me feel guilty that I’m retired.

Steven: Yeah. {And that means you|Which means you} have to {think about} it {this way} too {since when} you miss {a chance}, {you imagine} you missed so much money {nevertheless, you} can’t {believe that|believe} way. {This way} will destroy your account.

Tim: {I’d} rather miss a trade than trade {an excessive amount of} and take shitty trades.

Steven: Yes.

Tim: {How can you} overcome this? Teach us {how exactly to} {show patience}.

Steven: To {show patience}, I think {you have to|you should} practice. Second, you can’t be too rushed {to create} money, like nothing comes really fast.

Tim: Says {the person} who made nearly $2 million in {2 yrs}.

Steven: I don’t think it’s that fast. Bitcoin is {even more quickly}.

Tim: Don’t {talk about} Bitcoin. That’s been the single biggest boom {previously|during the past} {2 yrs}. Tim Grittani was closing in on 6 million, made no money for nine months. Why did you make so much money when he made none? {What’s} your secret?

Steven: {Study from} Tim Grittani.

Tim: No, {it is a} great point. So Tim Grittani had me and Michael Goode {to understand} from. {Nevertheless, you} have Grittani, me, Michael Goode, and Mark Crook. {Therefore the} more students. {And today} {you understand}, other challenge students {perhaps you have} {to understand} from. {In order} we keep creating {increasingly more|a lot more|a growing number of} success stories, your education {becomes easier} because you {have significantly more} different examples because we’re all slightly different.

Steven: Yes. {Which means that your} speed curve {is a lot} faster, getting faster and faster.

Tim: Yes. What {do you consider} {is the greatest} {move to make} {at this time} in 2018? {As the} last time we talked, {it had been} {another} market. What’s different now?

Steven: {At this time} the market {is quite} volatile. So {there exists a} {large amount of} opportunity {on the market} {and you also} don’t {need to be} rushed {in to the} opportunities. {Show patience}, wait for {the proper} {possibility to} come, and {do it now}.

Tim: What do people do while they’re waiting? Because {we’ve} {many people} with itchy fingers, like {they would like to} {create a} trade, like their money {is merely} sitting there, {they would like to} get rich. {What now ?} when you’re not trading?

Steven: Well, when you’re trading, {you need to} {know very well what} you’re doing. So learning {when you are} free. {In case you are} waiting just pull up a video lesson, pull up a webinar, {watching} and learn. It’s {easier to} learn than {lose cash} [inaudible 00:05:48].

Tim: {Can you} hear {he}? I say this {each day}. Maybe with the soft-spoken accent, maybe that’s what it’s gonna take {one to} {take action}. My point is {that whenever} there’s no great play, {many people are} sad, right? They’re like, “Aw, there’s no great play.” And I say, “No, {this can be a} good thing. {Thus giving} you more {possibility to} study {to be able to|to enable you to} be better prepared for {once the} next play {will there be}.”

Steven: I totally agree {since when} people are {sick and tired of} waiting, there’s nothing happening {on the market}. {In case you are} studying, {you may be|you will end up|you can be} confident enough to {go in to the} next play. {So when} you are {well informed}, you {have significantly more} patience, {you then} gain more profits.

Tim: If {there is} a hot play {at this time}, {I’d} say {that a lot of} people wouldn’t even be properly {ready to} capitalize {onto it}.

Steven: {In the event that you} {make an effort to} rush {involved with it}, you can’t {benefit from} it.

Tim: Correct. So {there could be} a hot play {at this time} {plus some} newbie who hasn’t studied the DVDs and the webinars and the video lessons, “Okay. There’s a hot play. What do {I really do}?” Because they’re not prepared. So our job {would be to} prepare you {in advance}, right? That’s why {we’ve} so many DVDs and video lessons. That’s why you {arrived} {with your personal} guide now too.

Steven: So studying {may be the} key.

Tim: Studying {may be the} key as you always say. {An added} question… Actually, {I acquired} a question {for you personally} because I ask people, I’m like, “Oh, I’m gonna {talk to} Steven Dux.” {Await} this question. {I want to} see. {That is} from Mark in New Hampshire. {Many thanks} for writing in, Mark. Steven…it’s {an extended} question. “{What’s} {the very best} software {to utilize} for finding stocks?”

Steven: “StocksToTrade.”

Tim: There we go. {After all}, there’s more to it. “{Do you know the} scans that {you utilize},” he’s basically asking?

Steven: {The only real} scan {you should employ} {is merely} top percent gainer, {locating the} hottest stocks and the stock that everybody is watching.

Tim: {Nevertheless, you} use StocksToTrade.

Steven: Yes.

Tim: And I highly encourage you guys {to accomplish} it {as the} big percent gainers are good, but we {go on it} a step further. There’s 40 scans {included in} StocksToTrade.

Steven: Yes.

Tim: So, {for me personally}, {I love} using {different styles}. Like, the big percent gainers are good {but additionally} big percent gainers over three days or five days or {you understand}, different things {like this}.

Steven: Yeah. But {if you’re} {while watching} market {each day}, you’ll {know very well what} stock to trade.

Tim: {However, many} people aren’t. {You need to} understand. So {we’ve} students {around} {plus they} have different {you understand}, schedules. {Some individuals} can’t {maintain} front of the markets {each day}.

Steven: Yeah. {So that you can} create {your personal} criteria to scan…

Tim: {It is possible to} create {your personal} criteria. {Can you} {do this}?

Steven: Yes.

Tim: {Just how many} different criteria {can you} use?

Steven: Not {that lots of} for scan only, but {I take advantage of} criterias for shorting stocks.

Tim: Yeah. But I {discover that} simple works {pretty much}. Again, {that is} counterintuitive. Like, {folks are} like, “Okay. There’s 500 indicators. {I want to} plug {all of them} in.” {After all}, {easily} used {a few of these} indicators, {I’d} just lose my mind.

Steven: Yeah. When you’re trading, {you need to} keep it {as easy as possible} {that you should|so that you can|that you can} understand, not {attempting to} be super complicated.

Tim: {Have you any idea|Are you aware} KISS, K-I-S-S, Keep it simple stupid?

Steven: Yeah.

Tim: It works {effectively}. {It certainly} works in the {currency markets}.

Steven: {It can} work, yes.

Tim: {Fine}. One thing…we {need to} go, {the marketplace} is gonna close in {a bit}. I wanna {reunite} {in the event} there’s any overnight plays. One tip {for folks} watching this, {your very best} tip. {Apart from} studying, {apart from} having patience, what’s your third tip? Because those are two big ones.

Steven: There’s {plenty of} examples like us {for those who} {are receiving} successful really quick. {If you need to|In order to} be successful, {you need to} work harder than us. So {few} people {could be} successful. In trading, 8/10 people {lose cash}.**

Tim: Or 9/10 {based on} different studies.

Steven: Yeah. Or 9/10. {If you} {wish to be|desire to be} {much better than} us, {you need to} study hard. {You need to} follow {the guidelines}. You basically {have to be} {much better than} us {to obtain} faster success.**

Tim: It’s true. {And you also} {need to} learn {the guidelines} {to be able to} follow them. {Many people} don’t know {the guidelines}, like what rules {can you} follow. That’s why we teach specific rules. It’s {about} preparation and discipline, {you understand}? You’re only {as effective as} your trading plan. {And when} you {haven’t any} trading plan, {what exactly are} you gonna do? You’re {most likely not} gonna {prosper}. {You may have} {an excellent} trade. {You may have} {a negative} trade. {Lots of|Plenty of} {it really is} luck. {Can you} say that {you intend} meticulously on every trade?

Steven: Yes. {Each and every} trade I go in, {I’ve} a plan. {I’ve} my risk level. If it {rises}, my risk level, I cut it. {So when} you cut it, {you’ve got a} loss, but this loss {you need to be} really {more comfortable with}. So trading and the {currency markets} are like opportunities. {Invest the} a loss, it’s acceptable {as you} know {you’ll} {ensure it is} back, your winning percentage {will there be}. Always trust yourself, be confident.

Tim: {Many thanks}, sir. {He} {is indeed} incredible, {have a look at} his new guide, we’ll post {the hyperlink} {just underneath} this video. Learn {the guidelines}, learn patience, {understand why} {is really a} marathon, {not just a} sprint. {You won’t} necessarily {turn into a} millionaire {such as this} guy within {2 yrs}. Some students take longer, and that’s fine. Think about… Oh, {this is exactly what} I wanted {to state}. I’ve been saying this {to numerous} students, {i want to} {understand how} it sounds. I say, “{So what can} you do today and tomorrow, this week {and then} week {which} month {that will aid} you {more than} {per year} from now or {2 yrs} from now,” meaning {in the event that you} make $1,000 today, it doesn’t matter {per year} from now. But {in the event that you} make $1,000 on a trade today {carrying out a} plan, {and} {you utilize} that same plan with {a more impressive} account {per year} from now, that $1,000 {perhaps a} year from now {may be} a $10,000 profit. You scale up {as time passes}. {Are you} scaling up?**

Steven: I don’t really scale {on the market}. I’ve been patient.

Tim: But {right from the start}. Let’s {get back to} the beginning. {When you initially} started, {you’re} not taking {the positioning} sizes that you take now.

Steven: Yes.

Tim: {And that means you|Which means you} got {more comfortable with} the rules, {you have} {more comfortable with} the patterns, {and} once you {discovered that} comfort level, {as soon as you} saw it working {over and over}, that’s {once you} felt {convenient} to take bigger positions.

Steven: Yes.

Tim: So don’t take big positions {initially}. {I’d} rather you paper trade on StocksToTrade or take small positions practicing honing your techniques.

Steven: {You need to} understand you can’t grow {a more impressive} account {once you} can’t grow {a little} account.

Tim: Correct. Oh, my God. {This is the} best point. {If you have} {a little} account, {concentrate on} learning {how exactly to} grow that small account. You’re not gonna go from 1,000 {to at least one} 1 million {all at one time}.** {Make an effort to} go from 1,000 to 5,000, {and} 5,000 to 10,000, {and} 10,000 to 30,000, then 30,000 to 100,000. Then, {after you have|when you have} already proven yourself, you have {the procedure} down {and you also} understand, it’s {exactly the same} exact stuff, just with bigger positions {down the road}. {I believe} that’s actually {a very important thing}, like {for folks} to break it down {since they} see us like, “Oh, millionaires.” {Nevertheless, you} {need to} start small {and} it can {increase} {as time passes}.**

Steven: Yeah, correct.

Tim: {Fine}. We {surely got to} go trade. {Many thanks} for tuning in. Cheers.

Steven: {Many thanks}.

UPDATE: {Just what a} day for my top Trading Challenge students and I, {Many of} us made $2,000, $5,000, $10,000 even $100,000+ mainly {with this} classic pattern {not to mention} Steven made six-figures mainly shorting GERN:

Update 2: Want more good reads {such as this}? {Have a look at}:

My Student, Mason, Is CRUSHING It …

My Ace Student, Dominic, Does These 6 Simple Things

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