Four words. That’s all it takes.
Utter these four words with conviction and…
You could decimate your trading account.
What am I talking about?
During last week’s all-day webinar, students asked dozens of trading questions. We covered everything from geopolitics to energy stocks to the metaverse and more. I even managed to eke out $382 in profits — all live and uncut — after a frustrating day. (Catch the replay here.)
During the webinar, an important point came up. And that’s what I want to focus on today…
The Four Most Expensive Words
When promoters and their followers troll me on Twitter, they use these four words. I’ll tell you what they are in a second.
First, it’s important to understand that it’s not just newbies and promoters…
Huge funds controlling billions of dollars are losing because of these four words.
For example, the ARK Innovation ETF (NYSE: ARKK) is down 56% since hitting a high of $158.93 in February 2021. But those who challenge Cathie Wood get some version of the four words.
Check out this headline for a recent video posted to CNBC…
I can’t imagine what it would be like to have no risk levels like some of these big fund managers. The numbers — the losses — are staggering!
Sadly, it happens to small investors all the time … They lose 40% on a trade. They follow the leader and keep losing. It compounds when they don’t cut losses and believe the stories. They end up blowing up their accounts.
All because of the four most expensive words in the English language. Here they are…
“This time is different.”
Now let’s look at why…
This time is NOT different.
3 Top Penny Stock Trading Lessons
Each of this week’s lessons is an example of why this time is NOT different…
Penny Stock Trading Lesson #1: The Tale of the Busted Promoter
Stock promoters have one desire…
To help you part ways with your hard-earned money. That’s it. They have zero desire to do anything else, no matter what they say.
If it seems like OTCs are slow right now, it’s because many promoters are in hiding.
Why?
Because on October 26, a notorious Twitter stock promoter got arrested. Rumor has it that he’s flipping on other promoters. So, a lot of promoters we saw in 2020 and 2021 aren’t active. They’re scared.
On Friday (the day after the webinar) the promoter pleaded guilty…
Promoters are scammers who want to take your hard-earned money. That’s it.
This time is NOT different.
Penny Stock Trading Lesson #2: Study Now to Be a Future Millionaire
Some people come to trading with the wrong mindset. They want it to be like 2020 or 2021.
I’m sorry, but you missed it. Accept it.
Do you want to know how Jack, Mari, Kyle, and Matt became millionaires during the bubble market?
They started studying in 2017 or 2018. They ALL watched hot sectors come and go. They ALL felt like they’d missed it. But every one of them had the right mindset…
Study now. Study hard. Focus on growing your knowledge account…
Then, when the next hot market came around … BOOM!
THAT is how my new millionaire students did it. NOT by thinking, “This time is different.” They knew better and prepared for the next hot market.
Again…
This time is NOT different.
Penny Stock Trading Lesson #3: Work on Your Short Game
Before you get the wrong idea … I’m not talking about short selling. You have to figure out what works for you — whether it be going long or short.
What am I talking about, then?
Trading is like golf…
If you’re a golfer, it’s important to work on your short game. Everybody wants to drive the ball as far as they can. A lot of people learn to drive the ball far, but when it comes to chipping and putting, they SUCK.
An incredible golfer works on their short game MORE than their long game.
How does this apply to trading?
The more you work on small trades, the better you’ll be when you want to get bigger. You’ll have a better foundation.
This is not the market to go for home runs — and most of you reading this are not ready to go big.
This is a tough market. It’s impossible to know how things will play out over the coming days, weeks, and months. All you can do is react. But if you’re trading out of your league, doing things you’re not ready to do … it could destroy you.
One last time…
This time is NOT different.
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…
- The #1 WORST justification for a trade. It doesn’t matter if you win or lose, do NOT do this…
- Why what’s happening in the world today is an important part of your trading journey. (It’s not fun, but you need to learn the lessons.)
- How long will this crazy market last? And … the exact steps to take now to get ready for the next sizzling hot OTC market.
- My 100% guarantee for ALL live-trading webinars. (It’s not what you think, but it’s more valuable than you can imagine.)
- What I learned in 1999 and 2000 that helped me survive the dot-com crash. PLUS: How to apply it to your trading every single day.
There were dozens more questions and trading lessons during the webinar. I can’t encourage you enough to watch the replay. Then, 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, and me.
Want more penny stock lessons from Trading Challenge webinars? Comment below. I love to hear from all my readers!
The post Challenge Webinar Top Penny Stock Trading Lessons: The Four Most Expensive Words appeared first on Timothy Sykes.
