This is one of the most powerful top penny stock trading lessons I’ve ever shared…
It starts with pain. Not physical pain — more like mental anguish.
It’s that little voice inside your head when you make the same mistakes again and again…
“Why do I keep finding myself in bad trades? What do I need to do to change?”
It hurts.
Before you give up on trading … or think you’ll never get it…
Discover how these “quitters” will NEVER have to work a job again
What if you could develop almost zen-like powers of observation?
How?
Try my 7-figure mind hack.
I believe it can change your life forever…
Penny Stock Trading Lessons From a 7-Figure Mind Hack
When I assign this to students, hardly anybody makes it. The weird thing is, it doesn’t matter if you make it to the end.
The effort can literally change the way you think about trading.
Weirdly, this mind hack is one of the reasons I trade using a single laptop, sometimes with crappy Wi-Fi, in countries all over the world.
Penny Stock Trading Lesson #1: 33 Hours to Change Your Life Forever
On a normal week, the stock market is open for 32 and a half hours. (Not counting premarket or after-hours trading.) That’s 1,950 minutes for the geeks out there.
Here’s the 7-figure mind hack…
Sit and watch the market every day for a week.
And before you say, “That’s easy…”
Here are the rules…
7-Figure Mind Hack Rules for Trading Penny Stocks
- Prepare as usual. Whatever you usually do to prepare, do it. Make a watchlist. Research stocks. Read SEC filings if that’s your thing. Develop a thesis. Make trade plans. In other words … come to the market fully prepared.
- Don’t trade.
That’s right. Don’t trade.
Watch the market. Feel the temptation to trade. Flounder in the frustration of not trading. But whatever you do, don’t trade. Try so hard for a week that it drives you crazy.
How many hours a day should you watch? From the open to the close. If you normally take a break for lunch, fine. Get lunch or work out or whatever you do in the midday lull. But come back and finish the day.
Watch. Just watch.
My guess is, it will be very difficult. If it makes it easier… think of it as a week of rest.
When you make a sincere effort, something happens. Something almost magical…
Penny Stock Trading Lesson #2: Powerful Perception Secrets
This is a very powerful perception secret many traders never learn. Most people can’t do it because the temptation’s too great.
When you watch without trading, it changes your brain. It changes your perception. At first, you say to yourself, “I don’t want to trade.” Eventually, you say, “I don’t have to trade.”
Like I said, most people don’t make it through the entire week. That’s fine.
When you do come out of this mini-retirement…
When there’s a trade setup SO good that you say, “Forget this, I HAVE to take this trade…”
That’s when you should trade.
The cool thing is…
When you try so hard NOT to trade … You begin to develop a new skill.
Penny Stock Trading Lesson #3: Reliable Practical Willpower
Yes, willpower is a skill you can develop. How do you do it in trading?
One minute at a time … watching … waiting.
Maybe you’ll last three days … or two … even one. Again, it doesn’t matter if you can’t make it through an entire week.
Because you’ll begin to think, “I don’t have to trade. Not now, not today, not every day.”
And this little hack changes everything.
How?
The key to getting above-average results is to take above-average trades. And that means having above-average patience to wait for above average-trades to appear.
Most people (the 90% who lose) do the opposite and force trades. They trade based on gut feelings. That leads to overtrading … and pain.
Try it. I bet you can’t make it through a week. Prove me wrong.
More Top Penny Stock Trading Lessons
Every week I give a Trading Challenge webinar. They alternate between Q&A sessions and live-trading webinars.
Over time, lessons from webinars compound to grow your knowledge account. Come with questions and work to get better at trading penny stocks under $1.
5 More Penny Stock Trading Lessons
Miss the webinar? Trading Challenge students can watch the replay here. Here’s a taste of what you’ll learn when you watch the replay…
- Is now the time to start short selling? Why you shouldn’t chase strength OR weakness in the current market.
- What’s the $10–$30 rule? (Hint: It’s yet another thing my 7-figure students all have in common.)
- Why I’m not able to retire for real. (It’s not what you think.)
- What Mike “Huddie” Hudson did right before his six-figure week. And why you might want to consider doing the same.
- How to use that gut-wrenching feeling you get after a big loss to move forward.
I have at least 10 more trading lessons I didn’t mention here. I can’t encourage you enough to show up every week with solid questions.
Ready to take your trading to the next level? To access the live webinars and hundreds of archived webinars…
Take the Trading Challenge
Live webinars separate the Trading Challenge from our stand-alone products and newsletters. Every week there are two to four live webinars from mentors like Tim Lento, Mark Croock, Matt Monaco, and me.
Want more penny stock lessons from Trading Challenge webinars? Comment below, I love to hear from all my readers!
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