Day trading isn’t for everyone. But for some of us, it’s a dream job.
Source: timothysykes.com
Sure, it was tough in the beginning. Some days I studied 15 hours total! And that was while I worked a 9 to 5 job.
And while that mind sound excessive, that small sacrifice allows me to live the life of my dreams, while providing for my family, and not having to worry about money like most Americans are right now.
But eventually, I learned to become consistent and profitable. You can see my profit chart here.
It takes a certain kind of person to make it in this niche.
Maybe you have what it takes. Here are the 3 things a trader needs to be …
#1 Competitive
I’m no stranger to competition. Before I was a trader, I played soccer.
When I was little it was my dream to play professionally. I finally got my chance halfway through college.
So I quit and moved to Croatia.
Source: Roland Wolf
After a horrible ankle injury forced me to quit, I found trading.
But the competition is different from soccer. I had to re-learn who I was playing against.
Turns out it was me.
When it comes to trading, I was my own rival. I had to block out all the haters, let go of the FOMO, and trust in the process.
Every day I wake up and try to do things a little bit better.
Now I find it relaxing to compete against myself.
I don’t have to worry about how much money everyone else is making. I only have to worry about myself.
#2 Driven
It took me 4 years to pass $1 million in profits. Here’s the proof …
Source: Profit.ly
The good news is that traders like myself paved the way. It’s easier now for newbies to learn the ropes.
I’ve got …
- Live trades archived for students to watch
- Video lessons explaining key concepts
- New trading webinars every week
The point is, you’ve gotta want it. And anything worth having takes work.
But the path keeps getting clearer.
#3 Open To Change
The market is in a constant state of change. This means as a trader, I’ve got to change with it.
For example, sometimes the market is hot, and sometimes it’s kind of slow. So far this year it’s been a slow one. So I’m trading more carefully.
Take a look at the S&P 500 ETF Trust (NYSE: SPY). It’s down this year so far …
Another thing you’ve gotta be ready for is the profits.
Some people can’t handle making millions of dollars. It’s true.
And I’ve seen it happen a lot in the stock market.
A newbie will get lucky on a few trades and start recklessly throwing cash around. They get cocky. Then the market takes everything from them.
Make sure to use a growth mindset.
How To Start
Everyone’s journey is different.
I learned to trade from Tim Sykes, and so did over 2 dozen other millionaire traders. And none of us trade the same.
The key is to learn the process. Each trader then adapts the process to find a sweet spot.
For me, it’s day trading listed stocks.
But this trader has an entirely different strategy that works.
You’ve gotta figure out what works best for you.
Put one foot in front of the other,
Roland Wolf
Editor, The Wolf’s Den
