I’ve made +$7 million trading penny stocks throughout my career.
My secret?
I know how to lose better than most folks.
Now, you’re probably thinking, “Tim, how can you make so much money from stock trading from being good at losing?”
The first thing you’ve gotta understand is, everyone loses money in the stock market. But some people lose more than others.
In fact, there is a right way to lose and a wrong way…
And if you want to join the two comma club in trading, then pay close attention.
Here’s what it’s all about…
Steph Curry Mindset
Think about trading like playing basketball. High-stakes basketball, like the NBA.
Curry knows how to sink 3-pointers. But he misses every now and then.
Does he throw a fit when it bounces off the rim? Does he sit out the rest of the game?
No! He dials in and tries to make the next one.
That’s exactly what trading is like.
I’m not gonna profit off every trade. But I use every loss as a learning opportunity. And I get right back to trading.
Want to compare failed trades? Keep reading to see what my losses look like. Learn from these mistakes!
Loss #1
First on the list is a failed panic dip buy. Not familiar with my favorite pattern? Check it out here.
The strategy is to find a stock that’s price is falling. I like to wait for it to be at least 20% on the day. Otherwise, there isn’t enough panic for a big bounce.
Then I wait to see a huge green volume candle indicating a change in trade sentiment. You can see it on the chart …
I saw Dave Inc. (NASDAQ: DAVE) start to panic on Monday, February 14, 2022. When it based around $7 and showed bullish volume I bought in.
The post How Millionaire Traders Lose — and What You Can Learn From Them appeared first on Timothy Sykes.
