Timothy Sykes
@timothysykestrader·479K subscribers·3.4K videos
How to Evaluate a "Bad Trade" (Tim Grittani)
Posted
October 25, 2019
Views
7,016
Likes
258
Comments
27
Engagement
4.06%
October 25, 2019
7,016
258
27
4.06%
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When it comes to trading, not all losses are bad ... and not all profits are good. Learn how to shift your mindset and overcome a common trading pitfall! Today, Grittani and I talk about how to work on maintaining a healthy trading mindset every single day.
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Think about a baseball pitcher. Let’s say he’s on a hot streak in the game. So he starts to think, “just a few more innings and I’ve got a no-hitter!”
But once he gives up that first hit, everything starts to unravel. His streak is over and he struggles for the rest of the game.
What does this have to do with trading? Everything!
A lot of traders judge their progress by the current streak they’re on or even the results of a single day. But you gotta remember: this is a marathon, not a sprint.
You have to learn to think about the big picture. Focus on improving over time.
Let’s look at another aspect of this. A lot of traders judge their mistakes only by their losses. That’s WRONG, too! Even if you profit, it’s still possible to make mistakes. Maybe you were too aggressive in the trade. Maybe you didn’t take profits soon enough.
Maybe you just got lucky, so you don’t even know what you got right.
Get out of the profit/loss mindset. Learn to evaluate the entire process — not just the end result. Don’t focus on only the money!
Today, Tim Grittani and I talk about how a “winning streak” can lead to dumb mistakes, and what you SHOULD focus on instead.
Grittani lost nearly $50K just last week –– watch this to see how he turned it around!
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#TimothySykes #Pennystocks #TimGrittani
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here
