Top Students Talk About Achieving Success as Traders

– What’s up? Tim Sykes here, with a
whole group of traders. This is the Midwest Meetup with all the most
successful Midwesterners. I’m only partially in here because I’m in the Midwest right now, but I’m not a Midwesterner. Take it away Midwesterners! (suspenseful music) (intense suspenseful music – So, I guess I’m kind of stuck. I am Tim Bohen, the host of
the Steady Trade Podcast, so I guess I kind of get suckered into doing some of this duty. – [Tim] You’re the elder Midwesterner. – Yes, yes. – [Tim] You have the greatest beard. – There you go, there you go! – [Tim] (imitates foreign
accent) You are Cesar! (laughs) – So, Michael Goode, you are a Midwesterner
by transport or by– – No, by birth. – Oh are you? Oh, yeah, that’s right, okay. – I grew up in the Chicago area. – That’s right! (claps hands) I forgot about that. I was thinking you were
down in Saint Louis or something like that. – No, I lived there for a while, so… – There you go, okay. – For some years. – So you’re currently in
the Western Michigan area? – Yes. – Whereabouts unknown,
which I don’t blame you. – Yes. – This is the internet. (all laughing) So, if you’re not familiar
with Michael Goode, check out Goode Trades, with an E, and you can also listen to his phone ring and possibly, maybe that’s
someone calling him right now. – [Tim] You gotta dance when
your phone rings, buddy! (laughs) Listen to that! What is that song? (phone playing tune) – So, we’ll move on
with the introductions. So, this is Dom. I actually just met Dom– – Hey, I’ll take his place. – I just met Dom today. Nice to meet you! – No, wait, wait, hold on! I’m Michael Goode. – Okay. (laughing) – Where’s your beard? – I shaved. (chuckles) I used to be Tim Sykes’ biggest hater, but now I’m not. (all laughing) – That’s pretty good impersonation. (laughing loudly) – I’ve made 2 million dollars. (laughing) Life is good! – So, anyway, nice to
meet you Dom, by the way. – You too. – We’d like to have you on
the Steady Trade Podcast soon. And then there’s Jack,
Jack Kellogg, Jakaroo. He’s been on the Steady Trade Podcast, one of the best episodes. A lot of people really love that these guys are
different then what I do, what Tim does and what Michael Goode does. And I think that’s the great
thing about low-price tags. You guys are mostly OTC traders, right? – Yeah. – So– – Attack team, back in! – Why don’t you, as when it
comes to definition of terms and we’ll come back to you, Michael. What, you know, explain Dom, we’ll start with you since you’re closest. What is your trading style? What do you mostly look
at trading and well, let’s back up. How did you get started,
I’d like to start there. What got you in trading and then go into what
you’re trading today, so… – Yeah. I just found a video of Tim Sykes. – Which is probably I think all of us would probably say that. – Yeah, he’s all over the internet. – Yeah. (laughs loudly) – [Tim] Tim Sykes is the man! (laughing) – And just got super
interested in the idea of it, put some time into it, joined his course and started to really
fall in love with it. I’ve been doing it for about
two and a half years now. – How old are you now? – 24. – Okay, all right, okay. You look younger by the way. – Oh, thank you. – It’s a compliment. (laughs loudly) – Started off trading everything,
was super inconsistent. Once I narrowed it down to mostly OTCs and in particular sector Momentum. And when a lot of the sector gets hot or simply plays or in action, it’s when I trade my best. Primarily a long-trader,
looking for daily chart set-ups on a technical basis,
looking for chart breakouts, breakdowns if I’m shorting. Pretty much the whole
printed side framework, buy the breakout, short
the first bread day, buy the first bounce. And you have a couple of intraday setups I look for as well in these OTCs, that are super volatile, have lots of range and are super liquid. – Yeah, I think that’s,
you know, for the viewers, I think that’s one of the
best ways to get started, you know. First of all, you know, get
started as that long-buys trader and then those, just
simple breakouts, you know. – Oh, yeah. – I mean, yeah, there’s
not gonna be one every day, but if you’re under the PDT, you can’t trade every day anyway. So, just kind of wait
around for that setup that works for you, so. – Yeah. – Now, what were you doing before trading? – I was in school. – Okay. – I have never had a real job. (chuckles) I did a landscape foreman for
a few years in the summer, while I was in college. And then, went full
time right after college while I was still unprofitable. And it was pretty stressful,
but it worked out. – Well, and I think that’s,
you know, that’s the again, we talk about youth. That’s the benefit of youth is I think, I talk about that all the time. I mean, be willing to fail, I mean I.. You’re gonna fail at this game, well, unless you’re an extreme outlier, there’s outliers pout there. But, odds are you’re gonna fail. And if you’re young, I
mean, that’s the way to time to try it. – Yeah. – Especially, you know. When you don’t have a mortgage,
or a family, etc., so… – Exactly. – Now, I think the, again, the viewers would like to
know the answer to this. Did any of your college
education apply at all to anything you’re doing today? (laughs) – Its gonna be a hard NO. – Okay, all right! (laughing loudly) – So, lets move on to Jack. Give a little bit of a background, Jack. Again, Jack’s been on the podcast before, but maybe you haven’t checked that out. So, a little bit of a bio and then kind of what
you’re trading as well, Jack – Okay. So, I went to high school and I really didn’t like,
try to hard in school, because it didn’t really interest me. I just mainly played sports,
soccer and basketball and partied with my friends and just worked on my social game and not really my academics. And I knew that college
wouldn’t be an option for me because I’m not trying to
spend 20, 30 grand a semester and get an education where I didn’t even know what I wanted to do. And I kind of wanted to be my own boss, do like real estate, or do some
entrepreneurial-type stuff. And after high school, I
didn’t really know what to do, so I became an EMT and I worked, I volunteered at a fire
house to pass some time, like get in the zone, you know, and stop partying and hanging
out with like, toxic people. And then, I wanted to get invested because I’ve saved up money because I was working at
valet jobs since I was 16. And my fiend was like, in January 2017, that’s when my new year
resolution was to trade stocks and see what I can learn
about trading stocks. – Interesting resolution. (laughs loudly) – Yeah. And then my fiend, I just
happened to run into an old friend and he was like, “Oh, I’m
interested in stocks too. I’m learning from Tim Sykes.” and that night, I went
home, went on YouTube, googled up Tim Sykes. And this was just after
the December of 2016 where we saw the rise and
all the shippers go crazy. And I was like, “Oh my God! There’s so much opportunity here!” and I was immediately addicted,
I convinced my parents to split half of the
Tim Challenge with me. And I went in there and from 2017 I just studied and I worked. I just would, all day, every day, I would just think about trading
and how I’m gonna do this. And in 2018 started trading and I was profitable kind
of right off the bat, I was just kind of short in some place, overextended gap-downs,
shorting some OTCs. And I was making money, but then I lost a bunch on Turtle Beach. And then, I kind of met him, and he showed me his OTC
strategy and I really liked it because it was low-risk, high-reward. And then I just started trading
that and here we are now. – Cool. So, now, I’ll come back to you guys because I want to talk about, because you’re the transport
plan back to Michigan, correct? – Yeah. – Because you are– – I’m from Connecticut. – That’s right. – Yeah. Small tow, just like Tim. – So I just mixed up the bios. – You’re not really a Midwesterner. – No. – Not really one of us. (all laughing loudly) You can tell it. I mean, juts looking at you. (laughing loudly) – So, going back, Michael Goode, you know I think probably a lot of
people know your story as well. – They better. – As Tim mentioned, the original, the original Tim Sykes
hater and probably– – I still hate him. – Yeah? Well, I mean , me too. (all laughing loudly) – [Tim] (imitates
voices) ” Fuck Tim Sykes, the guy fucking sucks!” (all laughing loudly) “So fucking cocky!” – You know, I look at Tim and
maybe look at the same way, it’s kind of a, it’s all
at this point, you know, you and I have known him forever. It’s kind of like that brother, you love him but you hate him, you know? It’s like, just you know… – [Tim] (imitates voice)
“The fucking annoying brother that you wanted to fucking punch!” – Yeah, or I like to say, you know, I say this about Steven
Johnson and Tim a lot, I love them but I don’t
like them, you know. So that’s the way I look at it as well. – [Tim] (imitates voice)
“Steven Johnson is fucking– (laughing loudly) “At least Tim Sykes is disciplined.” – So give little bit of your bio, as well. – [Tim] (imitates voice)
“Fuck Steven Johnson!” – Okay, so, I think thank
you Sykes, for that. (laughs) I had a sort of similar
start in a way, with Jack. Starting trading just
because I got some money and was looking at investing. And for me, I had never had any interest whatsoever in the stock market, finance
or business, or any of that. I was interested in
the life with the Might and learning things. And I was in graduate
school, pursuing a PhD in cognitive psychology
with the focus on memory, which I did not get. I realized after two years that I was just not dedicated
enough to, you know, keep doing that for 60 hours a
week for the rest of my life. Or at least 15 more
years, until I got tenure. And I said, “Okay, I need to
figure out to do something.” And around the same time, one of my grandparents
died, I inherited some money and also my wife’s dad died and we got some
life-insurance money for that. So I looked into learning about investing. And the first company
I almost invested with, was a little company based
in the Midwest, in Chicago, called US Wind Farming, on trading on the pink sheets and I googled the company’s
CEO and looked up the finances and I found out that this
CEO had done at least, I forget exactly how many, but he had done years in
prison for stock fraud. (laughing) – Typical. – And, you know, it’s hard to go to actual
federal prison for stock fraud. You have to be really, really
egregious about what you do. And I emailed him and like, “Hey, are you the same guy that this is about?” And he emailed me back and
said, “Hey, yeah, and… But I’m not going anywhere and I think we’re doing
really great things. If you have any doubts don’t invest, but we’re gonna accomplish
a lot at this company.” I didn’t invest and six
months later the SEC sued him and said that they’d come
the entirety of the company, all the press releases
they’d put out were lies. They had no business whatsoever,
they had no contracts, it was all lies, just to pump
up the stock and dump shares. So, the first company
I almost invested in, was a pump and dump. And that was around the beginning
of 2005 and that sort of, I had pump and dumps on my
mind ffrom the very beginning. And later, actually, this was the… I hadn’t given up on
grad school at that time. I had maybe another
year before I did that. And through, I tried a whole bunch of
different trading strategies, options, shorting, buying,
random liquid stocks, everything. I was doing some algorithmic swing-trading. And it was actually that that led me to get an account
at Interactive Brokers, which is the best brokerage in the world. Thank you Thomas Pefferdy, Tefferdy, oh, I have no idea how to pronounce it. But, I don’t love them that much, but they have been one of my
brokers for a long time, and– – [Tim] (imitates voice) “Yo,
fuck Interactive Brokers.” (laughs loudly) – And the reason I get– – In all honesty, Interactive
Brokers does not pay us, no broker does, but they suck the least. That’s what I like to say– – I agree. – User broker that sucks the least. There’s a lot of sucky
brokers that suck the most, Interactive Brokers sucks the least. God job IB! – I agree 100% with that. They suck in plenty of ways,
but they suck the least. And I got it because I
could trade small positions and it was cheap commission, so I could trade just
a couple hundred shares and pay $1 per trade. And if I’m doing some algorithmic trading, I’m making a ton of trades at once. And I didn’t have a big
account, so that was useful. Okay, the first stock
I almost invested in, I’m going back ways here, was a company called US Wind Farming. It looked like a great company
and then I googled the CEO, found out he had spent some time in prison and then learned that he
was, yeah, not a good guy. And six months later, the
company was sued by the SEC. The SEC alleged that everything the company had said was a lie and that they had no contracts
that they’ve had said had. They had no real business
and that they were just, the SEC alleged that they were
just promoting their stock so that they could sell shares. And from that beginning, I said, “Okay, well this is interesting.” I mean, understanding how
our per-stock promotion works is like, okay, well somebody
is promoting the stock because it’s not a good
company, it’s not a good stock. They have a lot of shares
that they want to sell. So that tells me the supply and demand, that there’s more supply
than there is demand. And if I can just get along
the right side of that trade, if I could short these
things that would be great. And it was until a couple a years later, that I learned that you could short those. And that was after I had tried many different kinds of trading and done all sorts of different
things that didn’t work. Options trading, trading
liquid stocks like Apple, just scalping for pennies. And then I did some
algorithmic swing-trading which required doing a lot of
trades with small positions, got an account at Interactive Brokers and then, randomly, in the summer of 2007, I looked up one promoted
stock that I saw mentioned in I think it was Forbes. And the Forbes informer
column, and I said, “Hey, I wonder if I can short this.” So I didn’t think you could
actually short OTC stocks. I looked it up, typed it
into Interactive Brokers and found out I could short it. So I shorted it. And then I kept doing the same thing with the similar promoted stocks and over the next seven months
made a good deal of money. Somewhere in the lower six figures, I don’t remember exactly how much, but, you know, definitely
over 100 thousand dollars which was really good money for somebody who had been in grad school. And getting by on my
$17,000 a year stipend. Which isn’t bad when
you’re going to school and getting paid to actually
go to school, but… So I left grad school, at
the time I was also working with a friend’s start-up
company, helping to run that. But I was doing that from home,
taking a lot of phone calls and that really didn’t interfere
with my trading too much. So, I could just look for
the newest promoted stock and short it and just hold and then they’d all eventually dropped because as soon as the
stock promotion ends, there’s nobody left to buy the stock. Because nobody’s buying it
because its a good company, they’re buying it because
it’s being advertised. And then I found, and what I kept doing is, I kept buying, taking bigger positions
and bigger positions and all my profits from the last one, I put into the next one. And that’s a great thing if you want to grow
your capital really fast or risk, you know, destroying
your entire account. (all laughing) Both things, it works multiple ways. So there’s this one stock
that I thought was promoted and I don’t know if it
ever was a paid promotion, but it was really overvalued and it had very little
actual of a business, MXFD, it was something with,
not actually viaticals, but selling like, life
insurance policies of sick or old people. And I said, “Okay, I’m
going to short this, this is going to drop, it’ll be great.” and I shorted at $13 a
share, I think it had, it was multi-hundred
million dollar market cap, pro like, 300 million dollars. It was insane. And the stock wasn’t that
liquid, but it kept going up. Day, after day, after day, I said, “Okay. I can hold through whatever.” And then, around the time
the stock hit $26 a share, and this is when I have… I started with about a
$90,000 position at 13. – Jesus. – And I get a forced buy-in
at Interactive Brokers, which means they say, “Hey, you know, you have this short stock position. You borrowed the shares to sell them and then you promised to buy them back. Well, we can’t borrow them anymore, so you need to buy them back right now.” and one day, the stock went from 23 to 28 and that was a one-man
short squeeze, that was me. (all laughing) – Oh my God! – And, you know, lost I
think half of my account. Or not, sorry. About half of that
position I had to closed because of that forced buy-in. And then the rest I closed
not that much later, maybe a little bit lower. But ended up losing somewhere between 90 thousand and a 100
thousand dollars on that, which, you know, was a little painful. And that was also the time that I, right around the time I
quit my so-called “day job”, which wasn’t really making much money. But I quit that to go trading full-time which was bit of a, you know, bummer to start with
such a negative thing. But in the meantime, you know,
right before that I had a 100 thousand dollar, or nearly
100 thousand dollar winner on a different short. It was actually a real company, not even a promoted stock, I don’t think. It was juts wildly overvalued
and way overextended, called LSCG Lighting Science Group. And they’re still around, I
think they might be on Nasdaq. Now they make LADs, but… Anyway, lost money on that
one and then I said, “Okay. I need to get better
at timing this stuff.” And because with several
other smaller short positions I got forced buy-ins as well. This was around the time that the great financial crisis,
as we call it, was starting. So Bear Sterns had gone
kaput, I think in February. And then the SEC started
enforcing regulation SHO, regulation of short sales, a lot tighter. Which meant that if there
were fails to deliver, it’s very technical, I don’t want to get into
technical stuff about short sales. But, if you borrow the
shares, you sell them, you need to actually have borrowed them. But brokers would let you do that without actually borrowing the shares. And a lot of brokers got
into trouble for that, had to pay fines to the SEC. But the end-result is that
all the brokers, including IB, they got a lot more aggressive
about doing forced-buying. So it was a much bigger risk that I’d get forced to close my position when the stock had not dropped. And I had a loss, so I started looking to
time my trades better. And it was around that
time that I found Tim Sykes and as he had said, I had my… I was his first good hater and first successful student, too. So I heard this blog post
about him and I said, “Hey, I think there’s a lot
of problems with this. I think the strategy is not
gonna work in the long-run. The more people he tries to teach, it’s gonna make it not work. And there’s all this crazy risks to it.” but, you know, I gave it a try anyway. I bought his book and
signed up for Tim Alerts and bought his first DVD Penny
Stocking, back in May, 2008. I was one of the first
members of Tim Alerts along with Tim Bohen here. – Yeah. – And I was able to start
trading, doing more day-trading. Still trading a lot of the pump and dumps, but I was trading them
a lot more short-term. I was a shorter time horizon
and avoiding a lot of the risks of the forced buy-ins that
I had been trading and– – And now, 10 plus years
later, were you right? (laughs) That is the question. Now that more people
are doing this strategy, is it not working anymore? Answer the question! Can you handle the truth? – I knew that was coming. I saw the, “Can you handle
the truth?” coming, so. – I think some of my criticisms
were, are still valid. But, I mean, yeah, I mean I was wrong. – He’s a short-seller, at
least to defend his point. – No, just… (laughs) – He always says this
and I love ribbing on him because the patterns
are pretty much the same and we have a lot of shorts and we have a lot of longs and increased liquidity
and increased volatility and new opportunities (slapping
sound) with young-blood. Now we can trade even more! (all laughing) – Thank you, Tim! – So, ill start with my
bio real, really quick. So, yeah, as Michael Goode
mentioned, I was, I like to say I was one of the original
10 Tim Alerts subscribers. Had a life-log interest in
finance and actually did… Funny thing is, I found Tim because of Amazon book recommendations. Recommended his book, I had no
idea what short-selling was, it was the American Hedge Fund,
I read it, I was like, “Wow! This is an interesting story.” Happened to be roughly about the same time Tim Alerts started, so I joined Tim Alerts,
you know, I don’t know, months after Michael Goode
did or somewhere in there. Something I thought of as
you were talking about that, this is how far back, if you’re
a current Tim Sykes student, and you know the chat room, back in the day, all we
had was a word-press blog. (laughing) And we would chat in the comments. And that’s how old school it was. – That was the chat room? – That was the chat room, yeah. – Yes. – Because it was only like 50 of us. – Yeah, we’d have like
couple hundred comments. – Yep, yep. So every day, Tim would
post his watch-list and the chat room was
just word-press comments. – Yes. – So, I remember that. You’d have to go back there and refresh it to see if anybody commented. So that was back in the olden days when we didn’t have
electricity, or plumbing or anything like that. (laughing) – [Tim] Or air Conditioning. – But anyways, so, I evolved
from there, you know. Again, I say back in the day, was very, you know, I don’t want to say aggressive, but primarily a short-seller
as well for five or six years. Trading a lot of the
same stuff Michael did, having the same problems of buy-ins and trying to find shares and
change in brokerage accounts. I mean, we used to change brokerage
accounts every six months and then that brokerage account would all of their borrows would
dry up and we’d move on. So anyway, evolved through
there, went full-time. Actually sold my business because I was more interested in trading, in 2013, went full-time. Trying to keep this quick. Full-time trading is a lonely business. That’s why I love what these guys do and we’ll get back to that. They have their trading team
where they’re trading for, there in they’re apartment. So, you know, full-time
trading’s a lonely business and so in 2016 Stocks
and Trade approached me and I’ve been working with them and the Steady Trade Podcast,
to kind of get it out there and help others learn. And you know, I enjoy doing
this type of stuff as well. And then I still, I’m back
to part-time trading today, which I think it’s a
great way to look at it. I mean, it’s a way Tim looks at it too, is you know, trying to only trade
when your setup is there. So, that’s no– – Gideon trap, so– – No, no, no, no! I had a question. – Tell me. – So, we’re all here– – Can you see me? – Because we’re Midwesterners. So I think this is the
biggest reason Tim lost count. – Oh wait, all the Midwesterners, hold on. – Yes, yes. So we’re actually at my house today. – Michiganders. – Well, Michiganders. But I would like to say
Midwestern because– – [Tim] Is that a real thing? – Yeah. – [Tim] You guys say Michigander? – Yeah. We’re Michiganders. – Michiganders. – [Tim] Are you kidding me? – So, something that I
want to know and again, I think that’s why Tim
organized this Midwest meetup, as he called it, or Michigan meetup is, I believe and gain, I’m
programed by Joe Rogan and he talks about his a lot, about the work ethic and the mentality that comes from being in a
northern climate, you know, being in rough, you know, weather, etc. Do, I’ll move around, do you think that being in the Midwest, being in a cold climate,
being in, you know, whatever. Do you think that has
some effect on trading or do you think it just doesn’t
matter where you’re from? – I think it does have a bit of an effect. I mean, it might be a small
effect, but you’re gonna… I do think you’ll have
more successful people that have, you know, there’s not as much fun stuff
to do out in the winter. – And I think, you know,
and I’ll move to you guys. My answer is, I just think that you don’t have that “get rich
quick” mentality, as much. I mean, I’m not saying that
doesn’t exist in the Midwest, but I think you’ve got more of
that grinder-type philosophy in that fact that, you know,
again, we’re a lot of us… I mean, my dad worked in a factory. I mean, he knew he was gonna be able to provide for his family. He knew he wasn’t gonna get rich, he was grinding away in that factory, grinding away on the farm. He farmed and worked
in a factory, grinding. I think that attitude
comes from the Midwest. So, Dom, do you think where
you grew up or where you are, has any effect on your trading?
Or are we imagining things? – Yeah. I mean, I don’t know if
it’s a Michigan thing. I think it was kind of
the way I was raised. – Right. – And just, I mean, I’ve
had jobs since I was 15 and I’ve always had to be doing
something to bring money in. – See, that’s the point I want
to make about you two guys. Both you guys. I mean, you’re hustling. – Yeah, yeah we do. – You know, landscape
and then then a valet, when you’re 16, 17. – Yeah. But I do think that there’s not as many
distractions in Michigan and versus other places in America and all over the world. And the time zone’s perfect. I don’t know, I do
think it helps you a lot because when it’s dark at
five o’clock in the afternoon, (laughing loudly) and you got nothing else to do but sit in your office and grind. And that’s definitely a plus. – And if you’re not
familiar with Michigan, in the winter, in December, it
gets light at like 8:30 a.m. and it’s dark at like 4:45 p.m. (laughing loudly) – Barely out of the office and it’s dark. – Yeah. – So it’s an incentive, I think,
to stay and keep studying. So, it’s probably a small advantage, but I think it does help. – And Jack? You know, again, I think, you know, again, I know you came from Connecticut and now you moved in with Dom, but, you know, I think you’ve
got that similar attitude. I mean you were, again,
working multiple jobs, hustling, saving that money. I mean, do you think the way your mindset, maybe the way you were raised, has some effect on your trading? – Yeah, definitely. And then when I even moved to Michigan, like, I don’t have a car, like, I don’t really have
too many friends out here. I just have people that I trade with and I’m like, solely focused on trading. And putting like, really
emerssing yourself into the game like, that’s how you’re
gonna get the best. The more work you put it,
like, the luckier you get. You know what I mean? The better you’re gonna get. And just that slow grind
in the Midwest, like, I’m not over there looking
at like LA mansions and saying like some
fake lifestyle, like– – Yeah. – I’m grinding it out. – [Tim] Ooouuhh! (all laughing) Ooouuhh! – Avoid the Instagram models,
avoid the flashy cars. – [Tim] Ooouuhh shit! – Focus on your trading. That’s what I would say. – All right. So the interesting thing about that is my latest two millionaire
students, both found me because they liked my
Lamborghini on Instagram. So, what I like is that, you know, these visual can motivate
you to study hard. But, at the same time,
all millionaire students and six figure students, the one thing they have in common is that they study their butts off. And its all about preparation. So, no matter what motivates
you to make a lot of money, you have to learn the
process, as we talked about, as you guys have learned. That we’re all, you
know, different traders. And being in the Midwest, I mean, part of the reason why we’re here, not because I wanted to come to Michigan. I think it’s funny, I was
trying to buy some tumbleweeds. We get tumbleweeds? – There aren’t tumbleweeds
in Michigan, it’s too humid. You’re thinking of the Southwest. – Yeah. – I don’t know. There’s some weird nature
shit going on here. (all laughing) But it’s weird– – It’s called thunderstorms. – Like there’s no power. I’ve rented a bar and there’s
no power in the whole town. Even McDonald’s doesn’t have power. And I go to some countries like Laos, like Cambodia, South Africa, these places don’t even have dirt… Like, they have dirt floors. (all laughing loudly) Like they don’t even have
floors and yet, they have power. And somehow, Michigan
does not have clean water and now does not have… It blows my mind. But, I do think that, you
know, having bad weather and having the right focus, really helps. You know, like, you were not
successful in Connecticut, where I’m from. But now you’re successful in Michigan, partially because of him, partially because there’s
fucking nothing to do here. Right? – Yeah, totally agree. – Like, you guys have no
outside life whatsoever. That allowed you to make 200 thousand, that allowed you to make 100 thousand, versus people in LA, New York
and a lot these big cities, like, whoa, we have– – They have a nightlife to go out to. – We have a Broadway show, we got bars, we got like a nightlife. Like, here it’s like, what do we do? – We study. – Yeah. – Throw darts? Like, you play these
little basketball games. Hand over to the basketball
game there, all right? (laughing) Like this is a classic,
Michigan, you know– – We’re even in the
basement, nowhere else, yeah. – Nightlife activity. – We’re safe from the
thunderstorms and the tornadoes. – Yeah. I mean, I just, I don’t know. I appreciate you Midwesterners. I appreciate you people who
live in bumble-fuck nowhere. Just keep studying! – Well, I’d like to add onto
that, I think if we get, we like to be outside here in
Michigan and in the Midwest in the summertime. But that’s when the stock market
tends to be a little slower – Yep, yep. – So, we can take days off. Go out and go kayaking or
whatever you feel like doing. But yeah, you’ve got a
good half a year where it’s not exactly pretty outside and there’s not exciting
cuisine or fun shows to go to. So,… – [Tim] I like how I was very negative, and you say it’s positive. Like, you say it like in a positive way. Like there’s not much to do. I’m like, “Yo, there’s
fucking nothing to do– (loud laughing covers the speech) But you’re trying your tenure
blase but you really can’t. But at least you’re saying positive stuff. Like, that’s new for you. I’m proud of you. – It’s the trials of this place give us our strength of character. (all laughing) – And you find positivity
in what you can find. – [Tim] It’s like that
Leonardo DiCaprio movie, where he won the Oscar. What was that? – Revenant? – [Tim] The Revenant! – Titanic? – The Wolf movie? – [Tim] No, The Revenant. Not Titanic, he dies in Titanic. – Oh, Revenant was a good movie. – [Tim] The Revenant
because it’s like nature and that reminds me of Michigan. – If I want to watch a guy who crawls across the dirt for two hours, you know, it just wasn’t my thing, man. – [Tim] Well, you just
go outside to Michigan. – Exactly. – [Tim] And that’s it. Trying to do something outside, but that element’s in your face. Cool. No, that’s exactly what I wanted. Like, you know, we need to figure out how to replicate your guys’ success. – Yeah. Do difficult shit! – I think the thing is really just having the right work ethic. – Yeah. – And that’s not all. I mean, you do need some other stuff too. But– – Discipline. – There’s, yeah, you need to have the
right sort of mindset. Some people, I don’t think, just don’t have the personality to trade. But there’s very few people I can think of who really worked hard
at learning to trade for a long period of time, who did not ever succeed to any extent. There are people, but not a lot. So, yeah. – [Tim] I agree. This is not rocket science. – And I think you need that work ethic and that attitude to get there. – Yeah. – Because if not, you’re
just gonna give up, you know. Because you’re gonna hit rough patches and if you don’t have the
that, just like you were, I mean, you were studying, you decided it wasn’t the thing for you. – Right. – Studying your ass off. – Yeah. – Making nothing. But you were still willing
to put in that work, so… Speaking of which, we’ll finish on this. Last question, and I’m not
trying to discourage anyone from going to college. If you’re a doctor, an engineer,
or something like that, don’t go into gender studies, my friends. So, my question for you is, did anything in your advanced
degree apply to trading? – A tiny bit. – A tiny bit. Probably more analytical type stuff. – Analytical thinking, understanding of statistics really helps. Because, I think, especially with trading, it’s not like most things. It’s not like, oh, if you do
it right, it will work out. If you go, 90% of the time,
if you have a normal job, if you do things right,
things will turn out good. But with trading, if you do things right– – It can still go bad. – All the time, you’re still
gonna lose a third of the time. Because it’s probabilistic. There’s gonna trades that don’t work out and you need to be able
to understand that and– – [Tim] Say that word again. – Probabilistic. – [Tim] Ooouuhh! – Yeah. – That’s a Midwestern word. Every single person who understands the
lessons from this video, leave a comment saying “probabilistic”. (all laughing) Hey, 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. (joyful tune)

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