🔴 Check out StocksToTrade: https://bit.ly/3mUYwqD 🤑👇🏻 EXPAND DESCRIPTION for more LINKS 👇🏻🤑 Getting stuck in a bad trade is no joke and it can lead to big losses. You need to know how to get out FAST. Watch this now! LINKS Mentioned: 🔴 Check out my charity: http://karmagawa.com 🔴 Learn more about Save the Reef: http://savethereef.org 👉🏼Get my FREE weekly stock watchlist here: https://bit.ly/308LfRc 👉🏼See all my trades from the last 20 years: https://profit.ly/user/timothysykes 👉🏼SUBSCRIBE: https://bit.ly/2MDNeVq to get INSTANT alerts when I post a new video outlining my penny stock trading techniques.* ✅ Share this video with a fellow Trader: https://youtu.be/GUtbcfBQ2zo ✅ Recommended video: https://youtu.be/e-mlscSd6u4 ✅ Recommended playlists: Day Trading 101: Starter Videos: https://www.youtube.com/watch?v=sxhDIeYxNpE&list=PLTKUP0v0mxhvcNcP55fLthMRuTep2SGzY Advanced Day Trading Tips: https://www.youtube.com/playlist?list=PLTKUP0v0mxhsG4FCc4go7v4EOvyeNubJS My Millionaire Students – Are You Next?: https://www.youtube.com/playlist?list=PLTKUP0v0mxhtFSV2MDrpS6hziwptlpv4_ Trading with the Tims: https://www.youtube.com/playlist?list=PLTKUP0v0mxhvhVuORoUdAQ1yCAZ6RAI_R Sometimes, trades go bad. It can happen fast, and it can be scary. What should you do if you find yourself in this position? In this video, I’m presenting with StocksToTrade’s lead trainer Tim Bohen. We’re talking about how to get out of a bad trade FAST. When you’re wrong about a play, it can be a terrible thing — for your state of mind and your trading account. So if a trade starts going against you, what should you do? My number-one rule is to CUT LOSSES QUICKLY. How quickly? I’ll explain my approach to cutting losses and why I’m brutal about it … It’s necessary for survival! Don’t let your ego get in the way … That’s when small mistakes turn into big disasters. Learn how to avoid getting into a bad trade in the first place … Bohen and I have important tips for how to stay safer going into a trade. Learn how you can give yourself a much better chance of a positive outcome, even if the trade results in a loss. Trading losses are inevitable. You can’t control that. But you can control things that can minimize the damage. Trading isn’t about action, it’s not a video game. You’re not looking for dopamine, you’re looking for steady, consistent results. I’ll talk about what I do when I don’t get the position I want, when I cut losses, and why NO stock is risky enough to place a market order. Bohen offers great insight on how there’s always a “stock du jour” and why you need to be OK if you miss it … There will always be more plays in the future. Together, we’ll talk you through the right mindset and strategy to minimize losses and work toward consistency. Don’t miss the end of the video — I’ll tell you my definition of what being rich means and why it’s not just about the money… Do you understand the concepts we’re talking about in this video? Are you ready to cut losses quickly? Leave a comment! ✅ Follow Tim Sykes and his trading travels: Instagram: https://www.instagram.com/timothysykes
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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.* —————————————————————————————————————-
* Timothy Sykes teaches skills others have used to make money. Most who receive free or paid content will make little or no money. Any results displayed are exceptional and are not typical and will 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. Do not invest money you cannot afford to lose. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services. Past performance in the market is not indicative of future results. See Terms of Service here: https://www.timothysykes.com/terms-of-service/.