“I Had to Learn THIS LESSON to Be Successful As a Trader” (Tim Grittani)

(cool music)
– It got more painful every time, even though
the loss got smaller, the loss got more painful,
because I felt so out of control. (bright music) – But, you have to look at this, if this is gonna make you some, you know, serious money, life changing money, it’s gonna take several years, you’re not gonna make life
changing money on any one trade. – Right, and I don’t know how to like, actually make people accept
that, it’s such a hard thing ’cause it kind of–
– Well, but it’s just us talking about it.
– It kind of goes against, like, human nature, to a degree. – It’s very counterintuitive, the best trading lessons
are very counterintuitive, but just us talking about it, ’cause I talk about this all the time, but they’re kind of tired
of me talking about it, so, like, this is, example A, right? Exhibit A, may it please the court. Like, that, I think, is the biggest thing where you just have to wait
for trades to come to you. You know, this is a big thing too, everyone’s like, okay,
I believe you Tim Sykes, I wanna trade, I’m taking
Tuesday off from work, what should I buy? What do you say to a message
like that, if you say like, let’s say you get this DM on Monday and someone’s like, okay,
I’m taking the day off, I’m gonna trade tomorrow,
what should I do? – I would ask them, what
are your favorite setups? And I would say, look
for one of those setups. That’s what I would say. – What if they don’t
know any favorite setups? – Then I would say, probably, study more before you
start trading (laughs). – ‘Cause, do you agree, the majority of this
is, it’s you versus you. Like, the opportunities are there, and then the question is are you mentally there to take advantage of the opportunities? – Yeah, I mean, like, you know, I’d make the comparison
here, like, you’ll see, you’ll see the STC holds a stock, and people will be stuck long
in that, and they’re like, oh, stupid STC I lost because of them– – But it’s their fault! – Yeah, why were you in
that in the first place? You were in something
that was a halt risk, what can you do to make sure
that doesn’t happen again? – Or you’re, you know, short
a stock and it keeps going, and you don’t cut losses, and
you blame others for buying. – Oh it’s manipulated,
someone’s supporting it, they created a short
squeeze, it’s not my fault. No, it’s your fault, like,
you got stubborn, so. – Every trade is you, it’s you versus you, and you have to take responsibility. – So, you look in the mirror,
you’re honest with yourself, and you try to find
answers to the problems that you’re having. And, that’s why I didn’t get discouraged, ’cause I thought I had answers. You know, if I had failed
again, and again, and again, then maybe, I would’ve
started to get discouraged, once I felt like I ran out of ideas, but, you know, I never got to that point. The closest I ever came, actually, to being discouraged and like, oh wow, do I have a future in trading, was actually about three
or four years in, you know, whenever I did take that
string of six figure losses. Where it was like, you know, it was, they got smaller every time, but still, it was just, it got
more painful every time. Even though the loss got smaller,
the loss got more painful because I felt so out of control. And I was like, this is
entirely a me problem, and, I thought I would’ve
learned this lesson, but I didn’t, like, why
can’t I make this change? – What made it stake the last time? ‘Cause it was just so big? – The last one was about 105,000, which was less than half a leg, but, I think it was just, again, you know, the pain was the motivator. The pain was kind of the
motivator to stay disciplined after the $1,500 blowup and the pain of the third six figure loss was kind of the motivator to say like, I have to force myself to size down and fix these habits,
because, I recognized, it wasn’t sustainable to
keep trading like that. And, it was just so frustrating. – Not sustainable in terms
of financially sustainable and emotionally, I would say.
– Both, oh yeah, both. – You know, like, when you
have those heartbreaks, it’s like your life is over,
even if you still have money. Like, you know, when I
had my $500,000 loss, I still had probably, four
or $500,000 to my name, so I wasn’t broke, but
it was like, humiliating. Like, wow, I’m dealing with a power that I can’t control
like I thought I could. And I never wanted to
feel that again, right? (bright music)
Hey, Tim Sykes, millionaire, mentor, and trader. Thank you for watching my videos, I hope that they help you, I wanna share everything that
I’ve learned over the years. You can checkout 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.

Leave a Reply

Your email address will not be published. Required fields are marked *