3 Crucial Character Traits That Have Helped Me Make Millions in the Stock Market

by | Sep 19, 2022

Over the past two weeks, as market volatility reaches new highs, I’ve noticed a lot of students struggling to make sense of the wild price swings. 

In that spirit, today I’m gonna tell you something you might not like, but need to hear…

It takes hard work and sacrifices to transform from a market newbie into a winning trader.

My trip to the millionaire milestone wasn’t quick or easy. Success didn’t happen overnight. But boy, was it worth it. 

At any point in my journey, I could’ve grown impatient, overtraded before I’d built a solid strategy, and ended up like the 90% of traders who lose money.

Instead, I stayed laser-focused on my discipline. I’m an example of how slow and steady can win the race. 

It took years of studying and practice before I confidently developed a winning trading strategy

Thankfully, I discovered Tim Sykes’ Trading Challenge early on, which helped me sharpen the skills required to crush the markets.

That said, as valuable as a trading mentor (like Sykes or myself) can be, we can only take you so far…

At some point, you have to grab the reins and figure out the part your mentor can’t — what works for you specifically.

Why can’t trader and mentor Tim Bohen stop laughing?

He keeps “owning the hedgies” with this incredible strategy. (And he thinks it’s hilarious!) 

To see how this could radically boost your trading, starting tomorrow…

I can’t figure this out for you. No one can. You’ll have to come to this realization on your own.

But I can tell you about a few aspects of my personality that have helped me become the best trader I can be. 

Keep reading to see the three character traits that have helped me make millions…

Stubbornness

For better or worse, I’m stubborn. 

Stubbornness can be a blessing or a curse for traders. But for me, I find it leans towards the former.

So, why does being stubborn work for me? Let me explain…

I’m never satisfied with my trading results. I’m always looking to improve — even when I’m winning!

This constant search for self-betterment has paid dividends throughout my trading career. 

By continually challenging myself to improve, I’ve avoided the complacency that plagues many would-be traders.

On the other hand, stubbornness can be a detriment if applied to the wrong areas of the market.

For example, if you’re too stubborn to cut losses in a rapidly-declining position … that’s a disaster waiting to happen. 

Contrarily, if you stubbornly hold out for a pie-in-the-sky price target on an unrealized gain … your green trade will probably go red before you get out.

All this to say, if you’re stubborn like me … don’t let it keep you in positions you should’ve already exited. 

Instead, use it to your advantage — as a catalyst for continual improvement. 

Patience

Another trait that has helped me in the markets is patience

So many traders feel they need to make moves every day, causing them to enter trades they’d be better off avoiding entirely.

$127k in just 24 hours?! 😳

Did you catch the Shadow Trades Summit with Tim Sykes and Mark Croock?

If not, check it out now before it’s too late.

Mark pulled back the curtain on his shadow trades strategy…

Detailing step by step how he was able to make $127,000 in just 24 hours, during the middle of a market crash!

If you fall victim to this mindset, you’re setting yourself up for failure.

The more you trade, the more opportunities you have to lose.

But if you narrow your plays down to the best setups only, you’ll find they don’t come along every single day.

Bottom line: If you’re trading every day you’re probably overtrading. 

Instead, start getting comfortable with sitting on the sidelines until the perfect pattern pops up on your watchlist.

For the first half of this year, I traded much less frequently than normal. I was patient and disciplined, waiting for my ideal setups. 

While many other traders blew up their accounts, I avoided devastating losses by sitting on the sidelines.

Then, when the perfect chart pattern emerged in mid-June, I nailed my biggest trade of all time. 

The lesson? Patience is a virtue in the stock market … harness it to your advantage.

Self-Awareness

Last, but not least, my self-awareness helps me win.

In other words, after a decade in the markets, I know what setups work for me. I try not to stray away from them.

I’ve taken certain chart patterns Sykes taught me — like the first red day pattern — and successfully traded them over and over again.

But more than anything, I love to short overextended momentum stocks by buying put options. The vast majority of my nearly $4 million in verified profits comes from trades such as these. 

If a chart in a red-hot sector is way too inflated, you can bet I’m watching it closely, looking to buy puts near the top. 

That said, you shouldn’t just copy my strategy and hope for success. It won’t work. 

Every trader has their own personality and risk tolerance. You’ve gotta develop a game plan that works for you. And it may be completely different from mine.

For example, my top student, Jenny Smith, often finds plays I wouldn’t even think to trade (and crushes them in the process)…

(You can read more about Jenny’s incredible trading journey right here.)

The best traders I know possess a potent amount of self-awareness. This isn’t a coincidence. 

Take the time to learn what works for you and you’ll probably be a much better trader in the long run. 

Final Thoughts

These traits have helped me survive some crazy periods in the stock market. I hope they can do the same for you. 

I wrote this because this looks to be another extremely volatile week in the markets. Trade accordingly.

And for those wondering, I’m still holding puts on crypto stocks. I’ll go into more detail once I exit the positions. 

Want to be alerted to hot trade ideas before anywhere else?

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Check out the alert for BEAT on September 15th:

This is a tool you’ll want in your trading toolbox. 

Meet Mark:

Mark Croock is a former accountant who after studying under Millionaire Trader Tim Sykes turned his small account into $3.19 Million in trading profits by applying Tim’s strategies to options trading.

He started Evolved Trader to pay it forward and help other traders learn how to leverage options

 

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