@CTUCyberGroup Lesson: Work Smart, Not Long
The CyberGroup Live Trading Room once again has been on fire. There’s no better feeling as a teacher than to see all your student’s progressing further, and further as traders. One of the thing that we have been talking about constantly is the psychology that we bring into trading from our previous lives. The genre of previous professions before someone decides to be a trader is almost endless. You have Doctors, Lawyers, Entrepreneurs, Engineers, Electricians, Construction workers and I could honestly sit here for the rest of the day listing these careers off. The funny thing is that being a trader has one huge difference than all the other professions you might think of. Even though you can make the money of a full time job, this is a PART TIME career. Too many people come in with the mindset that as a day trader you must work from really early in the morning to late at night to be planning your trades and consistently finding that next opportunity. This couldn’t be further from the truth. In the beginning educating yourself is almost a full time job, it will take up about 90% of your time, but trading only fills in the remaining 10%. The perfect example is our big winner today $SARA. I called out $SARA at 9:32am EDT when the stock was $1.27. In less than 15 minutes the stock hit a high of $2.72. In less than 15 minutes on 1000 shares you could have made more than $1000 in profit. For most people $1,000 a day would be a dream income, and most likely would have to work the typical seven days a week working 15 hour days. Not as a trader, we hit our target goal, and go enjoy our day! Get out of the mindset of having to work long hours of a trader, and take advantage of the 9:30am EDT to 11am EDT time period where 70% of the volume is traded!