Never Run Out of Money
“An investment in knowledge pays the best interest” – Benjamin Franklin
Learn a skill that will enable you to make money for the rest of your life. Learn to trade! Yes, trading can be learned, like anything else, and it’s the most valuable skill of all, because trading can support a person forever, without depending on a job or a paycheck. Make enough money in just a few hours a day to live comfortably. Become financially independent and live without fear of running out of money.
Let me show you how to lose your fear of running out of money by learning how to trade. YOU CAN LEARN THIS SKILL. I’ve made a video that explains why trading is the most VALUABLE skill you can ever learn. Also, subscribe to my mailing list to learn more about my course, “Trading Mastery For Financial Freedom” at timelessdollar.com. Simply click the button.
Yes, trading can be learned, but it can’t be learned overnight. My advice to newbies is to start small. Most new traders have high expectations, but in my course, I urge students to practice what they’ve learned using a paper trading account and not expect too much in the way of success. By the end of my course, students will be on their way trading a simulated account and making mistakes and watching fake money grow and shrink. By trial and error, students learn from these mistakes as they gain experience as traders.
But when you hear people say you can make $1000 a day, you tend to think that those results aren’t the norm and not typical. Rest assured that while big money is there for the taking, the key to success is consistency and betting the ranch on every trade is a sure way to go broke. My advice is to try to make $50 t0 $100 per trade for 60% of your trades. The other side of the coin is to make sure you lose less than that amount on the remaining 40%. Once you master that, you’re on your way to becoming a successful trader.
Now, I trade futures, not stocks And there’s many reasons to trade futures instead of stocks particularly if you are a daytrader, starting with the minimum account size. For stocks, you need at least $25,000 in a trade account, but for futures you can open an account with as little as $2500 although I’d recommend at least $5,000.
When I began my trading career over 20 years ago I enrolled in a school to attend a three-day seminar in Los Angeles hosted by a guru futures trader. It was expensive, but I wanted to learn how to trade. I began day trading with the knowledge and guess what happened! I lost money! I wanted to quit. I had to add more money into my account if if wanted to keep trying. I went through a bunch of emotions as I saw my balance turn red when I was losing money and the excitement of seeing green when I was in profit.
It turns out that many other people who attended that seminar also lost money and it was because what the guru taught was that was geared to people who have a six-figure trading account but not to newbies or novices. What the guru taught was heavy on indicators – and I’ve since learned, with much experience, is that relying on backward-looking indicators such as moving averages can get you into real trouble real fast.
It was literally a roller coaster of emotions because I was investing with money that would have benefited my family in so many other ways. I doubted myself as to why I was trying this new venture. I stopped trading and got my hands on almost every trading book available. Then I practiced for nearly a full year! Yes, a year! Spending so much time studying price movement gave me an enormous advantage over most other traders and I learned where to enter trades and where to get out. And how to make money trading futures.
I regrouped and created an investment strategy that included limits for myself and even had to take deep breaths in order to control my impulse of wanting to exit the trade when the price was in the red – but not too much in the red, but within my limits. Guess what happened! I made money! I made small amounts at first: $75, $150, $500, etc.
Then it happened, I made the highest amount that I have made to date in one day, over $1000!!! This was my pivot moment. This was the day when my mindset changed forever. Not only did I make over $1000 in one day, I made in one day what I could never earn in my job! Not even close.
Do you want to learn to trade profitably and consistently? Click the link below. It can change your life
