How To Stop Losing

by | Feb 2, 2023 | Trading Lessons

Howdy traders, it’s Bryce here.

A lot of you are trying too hard.

And it leads to losses.

I know it sounds counterintuitive.

But … you don’t need to trade all day every day.

When I first joined Sykes’ Trading Challenge, I told myself I’d trade every profitable setup and I’d make it to $1 million in no time.

I quickly learned that’s not the way to sustainable profits.

I just passed the $1 million milestone, and there are days I don’t trade at all.

It’s all about taking advantage of the key time periods when stocks really like to move.

Let me break it down for you … 

Be Realistic

There are thousands of tickers running every day.

Only a handful of them are worth trading. Sometimes, depending on your strategy and the market, there won’t be any in a single day.

That’s when I go golfing … 

It’s why I argue people should keep their day job and trade as a side hustle. At least at first.

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Until you get used to trading at the right times, idle hands could push you into bad trades.

Work your 9 – 5 to stay busy, and trade these spikers when you recognize a perfect setup.

Like the consolidation and gap up on Motorsport Games Inc. (NASDAQ: MSGM) … 

This ticker launched Tuesday morning and consolidated above support into the close. It’s a classic Tim Sykes overnight pattern that led to a Wednesday morning spike.

Take a look, I drew in the support line at $20. Wednesday’s spike offered +140% profit potential … 

MSGM chart 2-minute candles Source: StocksToTrade

You could have traded MSGM a zillion different times. Or you could take advantage of the really hot window and nail one big trade.

This doesn’t have to be stressful. Don’t wear yourself out.

I know you want to swim around in a pool of cash like Scrooge McDuck. But don’t kill yourself to get there.

There’s another hot profit window coming up. 2023’s been full of these … 

Sykes is holding a live stream to explain the potential and his strategy.

If you’ve been losing in this market, lay off the gas for a bit.

Commit to Sykes’ Livestream, and understand you’ll have a completely different outlook on the market at the end.

Use your time efficiently.

See you in the next letter.

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