@CTUCyberGroup Lesson: Having the Right Tools + Not Taking Shortcuts = SUCCESS
My Live Trading Room has had some extremely strong trading days going into Memorial Day weekend. Today I started my Phase 1 class but even before the market opened we managed to take a profit on $NEWL for the third day in a row. Some other noticeable winners were $IGC $DKS to the short side, $CMRX and last but not least a huge winner with $TSL.
In every Phase 1 class, I like to ask all my returning students and especially my new students out of the necessary tools, how many they actually have. Even though there are five that are absolutely necessary you’d be shocked how many four, three, twos and even sometimes ones that I get. Think of it this way, if you wanted to be a professional baseball player, would you show up to the field without a glove? When learning to be a professional in anything there are certain things that are mandatory. Taking short cuts because you don’t want to pay extra for something is going to do nothing but hinder your success. These expenses are just the cost of doing business.
I also want to elaborate a little on taking short cuts. I have never in my life met a professional trader who learned to be that way from only reading a book. Please don’t get me wrong, reading is imperative to becoming a professional, but this is not alone going to get you to where you want to be. If you ask ten professional traders the main reason they are a success today, I will bet you ten out of ten tell you they had a mentor that was showing them live. Think of it this way, do you think there are any professional surgeons out there that didn’t want to do their residence and only went to class? Do you think they hold their doctorate today? Let’s say they did, as ridiculous as that would be, would you want them operating on you for the first time? Or even a pilot that has never flown before, just read a book on how to operate a plane. Do you want to be a passenger the first time they go into the air? I know these are ridiculous examples and your answer would be “of course not,” but this is the same principle.
Do yourself a favor and find a mentor and learn the right way. This way you skip the heart ache and stress that most traders have to go through before they learn this is the only way.