Patterns, lessons, and inspiration Good Morning! The Tim Sykes conference continues in Miami today with another round of millionaire presenters⦠This morning Rob Booker filled in for me with live market insights at the open. He shared his favorite pattern for morning trading which Iâll show you later⦠Then we had Tim Sykesâ millionaire student and [Trading Challenge]( moderator [Tim Lento]( share his top lesson from his $1 million loss shorting AMTD Digital Inc. (NYSE: HKD). And before lunch, [Mariana]( shared her tips for how you can find who you are as a trader. And how you can break down your journey to avoid becoming overwhelmed. Read on for all these amazing lessons. And remember, today is the last day to get exclusive access to my highest conviction trade ideaâ [get it now before time runs out]( A New Morning Pattern This morning traders at the conference were looking at Avenue Therapeutics, Inc. (NASDAQ: ATXI) and Zovio Inc (NASDAQ: ZVO). Both of them were on [Oracle](. ATXI ended up failing. But ZVO hit Oracleâs signal and the next resistance level for an almost perfect trade. ZVO chart: 1-day, 2-minute candle â courtesy of [StocksToTrade.com]( Rob Booker likes the same kind of stocks I like â low float with high volume. Float is a stockâs supply. Volume is the demand. Rob likes stocks with [fewer than 10 million shares](. For his favorite morning pattern, Rob looks for stocks that spike and pull back in premarket. Or stocks that spike and consolidate. Then heâs watching for it to break above the premarket high or consolidation area. Just like ZVO did this morning. When exiting a trade, Rob looks for [Oracle]( resistance areas and he likes to be out of his trades by 10 a.m. Eastern. He believes most stocks slow down after that time. Then he comes back in the afternoon to look for more opportunities to trade the same stock. Tim Lentoâs Lesson From a $1 Million Loss Tim majored in finance in college and became an accountant. In school, he had learned about stocks and investing and tried the buy-and-hold strategy. But he didnât make much money. He found Tim Sykes from his appearance on the show â[Wall Street Warriors]( and started following his [blog](. Thatâs when Sykes was shorting penny stock pumps when theyâd eventually fail. And itâs still what Tim Lento does today. He blew up a few accounts learning to trade. And admits he has horrible [risk management](. But that wasnât the reason for his $1 million loss⦠He says there are three reasons he took such a big loss: - He got lazy.
- Stopped recording and [tracking his trades](.
- He traded something outside his core strategy. The reason Lento has been so successful without good risk management is that heâs so specialized in his strategy. He shorts scams. HKD wasnât the same underwriter he typically looks for behind Chinese IPOs. And the stock wasnât promoted. He took his usual short position, then he was traveling when his friend texted him about HKDâs move. Lentoâs broker ended up closing out his position at around $760. But it couldâve been worse since the stock went to $2,500. Lento says the two ways to make it as a trader is to have [discipline]( and stick to what you know. How to Find Yourself As a Trader Mariana is Tim Sykesâ first female millionaire student. And she definitely inspired other women traders at the conference. Trading is difficult and Mari knows firsthand [how tough it is in the beginning](. You have a lot of doubts. And plenty of negative emotions to deal with when you make mistakes and take losses. Mari says the three key traits every trader needs are to stay positive, patient, and persistent. You have to encourage and motivate yourself ... One of the things people like about trading is not having a boss. But without anyone there to keep you accountable â you have to do it for yourself. Thatâs why you need to [know who you are as a person]( and trader. Ask yourself: - What's your [routine](
- What's your lifestyle?
- What are your personality traits? You have to understand yourself, so you know where you are, where you want to be, and what personality traits will hold you back. When you know what you struggle with, you can figure out how to overcome the barriers. All the millionaire traders at the conference were once where you are. They went through the struggles â and they still do. Nobody is perfect. Tradingâs a lifelong learning journey. So meet friends and other traders you can connect with either online or in person. [Join me in live webinars every morning here](. Have a great day everyone. See you back here tomorrow. Tim Bohen Lead Trainer, StocksToTrade sponsored [Looking for trading mentorship from Tim Bohen?]( Take your trading to the next level with mentorship from lead trainer, Tim Bohen, in the SteadyTrade Team. With live webinars every market-open and close, access to the team chatroom, and strategy webinars with short-selling success Mike Huddie, youâll have the help you need to build a strong trading foundation and reduce your learning curve. [Apply for the SteadyTrade Team Today]( sponsored [Why canât veteran trader Tim Bohen stop laughing?]( He says heâs just identified the ultimate revenge trade⦠And canât wait to hear from the haters. In 2020, people who doubted him missed out on the opportunity to make EIGHT TIMES their money. [Click here to see why heâs having the last laugh.]( Recommended Membership Gifts ACCESS NOW: Click to activate these complimentary membership gifts and receive daily market intel. [To The Moon Report Weekly Stock & Crypto Watchlist]( [Stock Market Safety Course By Millionaire Trader Tim Sykes]( [Facebook]( [Twitter]( [Instagram]( [YouTube]( [Spotify]( [Click Here to Unsubscribe]( (As an Amazon Associate, we earn from qualifying purchases.) 13809 Research Boulevard, Suite 500, Austin, TX 78750 *Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose. This is for informational purposes only as StocksToTrade is not registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. StocksToTrade cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. StocksToTrade in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, StocksToTrade accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns. Copyright © StocksToTrade.com