A lot of trading educators just focus on their one or two most successful students. You always hear about the millionaire students, the lambos, and the 5 star hotels in marketing of most trading services. Most millionaire students you hear about from other trading services (assuming they are real) are the outliers, not the norm.

They do not reflect the typical experience of the aspiring trader who turns to the internet for their stock trading education. For every 10,000 people you see go through these services, very few make it to the millionaire level.

But rarely do services talk about the average student, who doesn’t have much capital, didn’t come from a wealthy background, had nothing handed to them, and did not see overnight success. Not to say that people that have had success have any of these things. Everyone comes from their own unique situation. At BOWS we like to focus on the average student, because they have a much more relatable experience to the typical aspiring trader. We like to focus on successful, consistent students, who are quietly building their account, making $100-$500 a day.

A year ago we did a post about Henrik from Finland, one of our most promising bootcamp and mentorship students (check out the post here). We wanted to see where he is today, and how his trading has evolved over the last year. Here is a recent interview we did with Henrik, updating us on his progress:

Interview with Henrik 9/23

1. What have been your biggest ups and down since taking the bootcamp?

Taking big losses after a good week and losing all my gains on Friday. The feeling that I finally got this and then the market slaps me in my face and I take a big loss. I remember quitting so many times. Biggest ups since taking the bootcamp was when I made 1500$ in one week, it was very good feeling.

2. How has your progress been the past year?

I used to go big in a position and then risk too much on my first trade and if i lost big it is hard to come back and make the rest of the day green. Now I take smaller size at first and focus on just 1-2 favorite stocks and watch them very carefully and if I lose, it won’t affect me that much and I can still come back with a green day.

3. What has been the biggest factors in finding consistency in your trading?

The biggest factor has been trading less. I used to trade 5-7 tickers for a day and that is way too much. Now my focus is on 1-3 tickers/day. It was hard to at first keep this phase a year ago, I just wanted to make more money but then I gave all gains back and even would go red for the day. That is even more frustrating when you had good day and you messed it up. Now these last couple of months I have able to keep it lower risk. Become more consistent in my trading and the whole mindset in general towards the money. Now I have a bigger reason and vision where I want to go and what I want to do. I am not attached to the outcome anymore, I give my best everyday.

4. What do you focus on for your strategy?

My focus is on Earnings plays and Momentum stocks. I trade flags, bear flags, Red to green moves, and Opening Range Breakouts/Breakdowns, I keep it very simple. I also trade what works in different market conditions and I might change my strategy on a weekly basis. I keep a journal and track the process.

5. How has the education from Bulls on Wall Street affected your trading?

The whole Team is very helpful and I am grateful for all the support when I had the bad times. I e-mailed, called Kunal or any of the Team members and they are glad to help and guide me.

6. What advice would you give anyone just starting out?

Start with the simulator at first and experiment who are you as a person and find the setups you like. Start trading small, just a few hundred shares at a time and don’t over trade as I have done. You only need one good trade to make your day good that is the truth. Keep the end goal all the time in your mind, why you want to trade, what you want to create and share. I think its good to have a bigger reason in your mind than just money.

7. Any last thoughts?

I have to say that you have to develop the right mindset and it comes with doing the right things every single day, meaning building the right habits, routines etc. It’s all about the process. Nothing big happens overnight, it takes time and dedication, you have to enjoy the ride for it’s bad times and good times. Face your fears every day it helps you pull the trigger.

Focus On Your Own Journey

Social media is great at making you feel like you haven’t done much with your life. Everyone’s a winner on Twitter, Instagram, ect. When it comes to trading, most of the people on Twitter showing big PNL’s are usually paper trading (not trading real money, there are a few exceptions). Regardless of whether they are real or not, you should only focus on your journey anyway, and figure what YOU need to do to find trading success.

99.9% of aspiring traders will not find overnight success. Many of the most successful traders you hear about today took months and years to get where they are today. It took me 5 hard years to really get this game down. But you could be trading for the rest of your life. So what is taking a couple years to grind and learn how to develop a skill that will give you freedom and wealth for the rest of your life? It’s part of your story.

Join Our Next Bootcamp

Start your journey with us today. Join our 60-Day Trading Bootcamp and get started in a complete trading program. To get started, get your free trading assessment here.

The post Finding Trading Consistency: Update On Henrik appeared first on Bulls on Wall Street.

It’s no secret that the path to trading profitability is not an easy one. Successful trading requires you to develop habits that are inherently unnatural to most humans. Reprogramming your brain to become a successful trader is not an overnight process. It takes months, sometimes years, for you to make the necessary changes to occur.

That being said, you need to know all the shortcuts that will speed up the reprogramming process and allow you to develop the habits to succeed. In this article, we will talk about the 3 most important things you can do to expedite your trading learning curve.

Learn From Others’ Mistakes

In trading, and in life in general, there are a ton of different types of mistakes you can make. Intelligent people know that you can learn from others’ mistakes instead of your own. Education is what allows you to learn from others mistakes. There are thousands of trading books out there for you to read. Here are some books I recommend reading before getting started. These books are written by other traders and trading coaches who have made every mistake there is to make in trading.

Learn as much as you can about trading before you jump in. This may seem like obvious advice, but so many new traders don’t do it. They think it is easy money and they open an account right away because they think they are smart enough to make money in the stock market without studying anything. You may learn that trading may not be what you thought it to be. Education is a great start, but getting direct mentorship from someone after you get educated on the basics of trading will shorten your learning curve even more.

Find Mentorship

Mentorship was the difference between me being a losing trader and me becoming profitable. Before I found Paul, I couldn’t figure out how to make money consistently from trading. And I had been trying for almost 5 years. I had plenty of education and knowledge about the stock market. I just didn’t have a mentor to guide me to give me an outside look at what I was doing wrong. Once I started working with Paul, I started to see immediate improvements to my trading. He told me exactly what I was doing wrong that was preventing me from being a consistent trader, and what I needed to do to fix it. 

It is difficult to look at yourself and your flaws objectively. Other people will often see issues in you that you overlook. For this reason, mentorship in trading can drastically reduce your learning curve. For me mentorship gave me the guidance I needed to become a profitable trader. If I found a mentor when I started trading, it probably would’ve saved me years of unnecessary struggle and wasted money.

Record & Study Your Trading Data

This is the most boring part of becoming a successful trader, but yet the most important. You have to record every trade you take, study your old trades, and journal about your trading every day. You will never be able to see what mistakes you are making if you don’t study your own trading data. Traders who don’t study their trading data are not profitable. I have never met a trader who didn’t study their data meticulously everyday, even when they got profitable.

You can use trading journaling software like Tradervue and Edgewonk where you can upload executions from your broker. When looking at your trading data, study your best trades and figure out what they have in common. Figure out what you need to do to replicate them. Study your losing trades and figure out what they have in common. Figure out what are common causes of them, and eliminate them from your trading. Your data will show you where your edge is. 

Did you check out day 2 of our Momo Trader Series? Yesterday we talked about ‘The Three Phases Of Successful Trading‘.

Get Started With Our Free Trading Kit

Our trading kit is the best free resource out there for new and struggling traders. It includes

• Intro to Trading Course
• Comprehensive Trading Handbook
• Trading Consultation

Download your free trading kit here.

The post How to Expedite Your Trading Learning Curve | Momo Trader Day 3 appeared first on Bulls on Wall Street.

Recently we had our mentorship group at my house in Florida to trade in person and refine everyone’s plan. One of my most promising students is a man from Finland named Henrik. Henrik spent two weeks at my house since he came all the way from Finland which was an 18 hour journey for him. During this two weeks he was up and down which gave us an opportunity to identify his strengths and weaknesses even further then we already had.

One of his main problems was trading setups that weren’t working for him due to FOMO (fear of missing out). We implemented some things that would deter him from doing that and it resulted in him having his best week yet when he returned to Finland.

This is what Henrik had to say:

“I really think it comes down to one thing which is focus on what works previous weeks and do that. Couple of weeks back I wrote down what worked but then I didn’t do those things, I did exactly the opposite.
My Go-To setups are the Earning/PR plays and I played only those this week. Opening range Breakdowns/ Breakups, bear flags, flags, R/G, G/R moves. I also added one more setup to my arsenal which is the gap fill play and I succeeded very well on that setup.”

His overall P/L for the week was $1196! Nice job Henrik!

Here is Henrik’s P/L by the trade and some examples of trades he took for the week of May 1-5:

Monday

Tuesday

Wednesday

Thursday

Friday

Do you want to become our next success story? Fill out our Trader Assessment Form and we will be in contact with you to explain our courses and how they can help you reach your trading goals.

The post How This Mentorship Student Had His Best Trading Week appeared first on Bulls on Wall Street.

If you didn’t know, in addition to our live trading bootcamp, we also have a more exclusive mentorship program. This program is a very small group of dedicated traders. I work with them one on one to perfect their own trading style. We also meet every morning as a group to go over watchlists and stay in contact through the trading day.

Last week I had the honor of meeting them as they came down to my place in Florida for the week. The best part was they came from all over. Henrik from Finland, Simon from Sweden, Vince from New Jersey, Mrs. Jolley from Dallas, Cody from Venice, The Larkin sisters from Utah, Charles from Austin, Chris from Colorado, Billy from South Carolina, and Todd from New York.

It was great getting to know them on a more personal level and learning about all the interesting things they have done.

Henrik travelled through Asia after finishing school and competed in the World Fencing Championships.

Simon travelled through the USA going coast to coast on a Harley Davidson.

Vince was a top hairstylist on Madison Ave as a go to hairdresser for the rich and famous.

Mrs. Jolley built and sold her own business.

Cody works in the entertainment business and frequently travels through Europe and attended the Cannes Film Festival.

The Larkin sisters own a clothing store and have recently sold it.

Charles works for IBM and travels all around the world, selling servers to large businesses.

Chris owns his own software company.

Billy is a real estate developer and experienced the highs before the crash and lows after it and got through it all.

Todd is a corporate attorney in New York City and owns his own firm.

Meeting everyone and learning more about them made me realize how fortunate we are to be in a group of this calibre. Also, it made me think of the type of person that joins a more exclusive group and commits to it. They’re all confident individuals that have achieved success outside of trading and have always looked for a new journey or adventure. Whether it was starting a business or traveling around the world, normality isn’t in the cards for them.

Now they have looked to trading as their next mission and are willing to do whatever it takes to achieve the success they want. Henrik and Simon travelled 18 hours to come to my place. Others left their families and jobs. Overall it was an amazing week filled with lots of trading, learning, great conversations, and plenty of fun. We will definitely be bonded for life through this experience.

Here is the schedule we all did together:

Sunday we started off with a class on building watchlists and we discussed each other’s lists. Henrik also showed us how he tracks his trades.

Monday to Friday we woke up bright and early (Billy was always the first one up) and went through the morning gappers, narrowed down our watchlists, and started to trade. My housekeeper Wanda would make us all breakfast whether it was bacon and eggs or shrimp and grits.

As each of one of us was done trading for the day we would begin to make our way to the beach. Usually Charles or Cody would pack the cooler with drinks and we would have some fun.

Every night we would have class and go over everyone’s trades for the day. As the week went on, as a group we identified specific weaknesses in everyone’s trading and established accountability partners to make sure each person stuck to their own trading plan.

On Wednesday night I set up a bonfire on the beach and hired a company to cater food for us. It was a beautiful night by the fire especially once the s’mores came out.

All in all, it was a fantastic week.

If this sounds like something you would like to participate in then go to our Trader Assessment form and fill it out. We will contact you to discuss the details further and see if you’re the right fit. We don’t take everyone since it is a small group so we like to have a discussion and make sure it is the right fit for both of us.

Here are some more pictures from the week.

The post Great People Do Great Things – Summer Bootcamp With Mentorship Students appeared first on Bulls on Wall Street.