There was so much information dished out at the conference that I couldn’t cover it here in two days.
So today I’m sharing more lessons and traders’ perspectives from the conference.
And it still doesn’t come close to everything the presenters gave attendees…
There’s so much more to learn when you’re there in person and able to shake hands with these traders.
Today I’m sharing some market insights from Mark Croock, plus two other traders you might not have heard about yet…
But they’re both on their way to becoming millionaire traders…
Is The Bottom In This Bear Market?
Mark Croock shared how he adapted penny stock patterns into options trading. Learn how he did it here.
He also gave a lesson on how the Fed affects the stock market. Mark says, as a trader, you should be aware of the Fed’s hawkish or dovish stance.
As for the current market environment … Mark doesn’t believe the market bottom is in yet.
He thinks there is more capitulation to come. He’s not sure what the trigger will be for more selling but it doesn’t matter. As long as there is volatility, he will continue to trade anywhere there’s opportunities.
From Professional Athlete to Professional Trader
Ellis Hobbs is a former NFL player who’s had his share of ups and downs.
He set an NFL record for the longest kickoff return. But he also suffered a neck injury that took him out of the game for good.
Now he takes the dedication and discipline he used to become a professional athlete into being a professional trader.
He says trading isn’t a hobby — it’s a profession. You need a professional mindset to get professional results.
Stop looking for the money and start looking at how you can give value to yourself. How can you be better every day?
Ellis says, try to be mechanical as you can so you don’t become emotional.
That way you can look at the chart and make a decision based on what it’s showing you — not your feelings or thoughts about money.
Ellis is a moderator in Tim Sykes’ Trading Challenge. And he says he keeps his lessons simple because he came from a different world.
Check out his trading recipe on Profit.ly here.
An Up And Coming Trader
Tim Sykes’ student Clay Ruf is barely out of high school and he’s already closing in on $1 million in profits.
He’s still making mistakes but he’s learning from them. And that’s what his presentation was about…
Clay says some of his bad habits include:
- Not having position size guidelines.
- Trading the wrong setups.
- Overtrading and giving back profits.
- Getting into trades too early.
- Rushing exits.
- Not sticking to his plan.
They’re probably some mistakes you struggle with too. Clay finds this market difficult, but here’s how he’s working to improve:
- Using a max dollar risk.
- Avoid big red days by accepting when he’s wrong.
- Only enter near key levels.
- Clear risk level and sticking to stops
Clay says the biggest and best lessons every trader should learn are the simplest ones. The ones that mentors repeat over and over.
He says repetition is the mother of all skills.
There were so many more educational and inspiring presentations that I couldn’t cover here.
If you didn’t make it, I hope you can next year. Because networking and meeting other traders is a huge part of success.
I hope to be there in person next year too. Until then…
Have a great day everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade