Trading is a trip.
At first, its a jig-saw puzzle.
You feel like youre in a foreign country, speaking a different language.
What are they seeing that youre not? Is it just a big scam?
I totally felt that way starting out, but there were too many signs that it was real.
I’ve met people in real life that live off trading.
Tons of students here have as well.
Its not something you’re born with- a hidden talent bestowed by the gods.
Its a skillset.
Like playing the piano, or learning a language, it can be cultivated.
Richard Dennis in 1984 turned ordinary people into top traders if they were persistent enough and followed the right rules.
You can do it too.
But the question is how much do you want to learn this? Is this really your dream?
I knew when I saw The Big Short, I wanted to be that guy.
Low key. In a hoodie.
Snagging a few thousand in a few minutes at a busy coffee shop.
No one around being the wiser.
Like Neo in The Matrix. Awesome.
But are you willing to sacrifice: your sleep, your job or schooling, your relationships, your hobbies?
While pursuing my Engineering Degree, I focused my weekends and evenings to watching video lessons and studying charts, to the disproval of most around me.
Their doubt made me go harder.
I skipped crazy parties, awesome friends, quality sleep and sacrificed my grades to learn to trade.
Im extremely stubborn to a fault, and it has been a constant double-edged sword for me.
I became a crazed hermit who just saw flashing green and red tickers all the time. If you tried to have a conversation with me, Id go on and ramble about trading and markets. It was baaad.
And when I finally started using real money…
my trading was baaad too.
It was like having the worst of both worlds- putting in extra work but your account keeps going down and you also dont have a life.
$500 loss yesterday.
$900 loss today… Ouch.
It sucked, my confidence took a hit and I started doubting the whole thing.
I kinda went into a downwards spiral and it affected my life as a whole.
Despite this, I kept going. Why? The dream was real. I knew 100% it was possible. But I didnt just know, I understood.
It has been done before by others and Im no different
So I refined my strategies more.
I reluctantly listened to Tim Sykes lessons.
And when I lost more money…
I reluctantly implemented Tim Sykes lessons.
CUT LOSSES QUICKLY
FOCUS ON ONLY 1-2 STRATEGIES AND SETUPS
TRACK YOUR SETUPS IN DETAIL ON EXCEL, CATEGORIZED BY STRATEGY
TRADE ONLY THE BEST SETUPS THAT YOU HAVE ACTUALLY TRACKED TO HAVE AN EDGE
TAKE THE MEAT OF THE MOVE - AIM LOWER THAN THE STATISTICAL GAIN OF YOUR STRATEGY
DONT TRADE ILLIQUID STOCKS
Once you actually implement these elite insights, youll be running with the big dogs.
You’ll see The Matrix.
The setups are clear as day and you strike when the odds are there.
But people wont believe you; theyre still asleep.
Now, you dont have to go to the level I went.
You dont have to become obsessed, stressed and depressed
But if you want to win, you cant just dabble in this.
Do you have that raging passion to WIN?
You have to be constantly learning and improving through the losses.
Maybe not tomorrow, but over the weeks youll see a gradual improvement.
You wont doubt your trading anymore.
But until you implement… youre spinning your wheels… youre playing to lose.
So go and take pains to implement these lessons
Since youve read this far, Ill reveal my SECRET WEAPON
This has been so fundamental in turning my profit curve the right side up.
It deals with POSITION SIZING, something rarely covered in this community.
Youre either all in or youre not, right?
You need to modulate your position size depending how well your strategy is doing.
And you also have to make sure you dont blow up your entire account.
I use the Kelly Criteria for this purpose. It combines Winning % , Average % Gain with Average % Loss to make sure you’ll NEVER BLOW UP
This is so key when youre starting out since you might want to play your whole account each trade.
Instead, when youve tracked a strategy and confirmed it works over time, use 10% of your account on trades and let the Kelly Criteria decide how much you’ll use on your next one.
I have mine set as a formula that automatically updates on my Excel
Read Up on Kelly Criteria here:
You’ll be in the game long enough to learn and succeed.
Nowadays, I only have a few key strategies that are slowly but consistency making me money.
I focus on OTC Midday Perks and Morning Panics, but am also scoping out and tracking new strategies.
I’ve cut out all the MAYBE and just for fun trades.
I cut losses quickly, no matter how painful.
I aim NOT to trade everyday, but if the setup keeps coming up everyday, Im ready.
This isnt a game.
Its a business.
So is all this incredible effort worth it?
I honestly dont know. You need to decide for yourself.
Personally, I feel Im being pushed by an external muse to chase this dream to succeed, so Imma go with that :)
See you in Orlando,