The first of the year 2010 brought a newfound optimism to the membership in the form of the $100,000 Challenge. I put the group to the test… to turn $1,000 into $100,000 during the year using my methodology. Proudly, some people are far exceeding their expectations. As I post only statements I personally audited, I confidently attest to the validity of these figures.
Although this was in 2010, I found some key points that consistently surfaced in discussing these winning trades:
1) Knowledge: Every single aspect of this trade, I spent dearly learning, mastering and continually refining. You need to invest in yourself first and continually. Without a solid grounding, this system will not work.
2) Confidence: The winners all echo the same attributes. Trading with faith and confidence in the move is paramount to your success. If you hesitate, do not trade real money; you will lose. This is not game for the faint of heart.
3) Patience: A virtue in so many facets of life, there will be times you will have to sit on your hands and just wait it out. That’s the way it’s played. You must learn and exercise patience. Take up a hobby while you’re waiting.
4) Discipline: Having great qualities/knowledge is not enough. You have to manage them. You must conquer your own self before you can attack the market. Master self control and you will forever be free. Hasten to make discipline a habit.
5) Continued Support Through Regular Mentoring: Just as all great athletes have coaches, traders also need coaching. There is a direct relationship between how much time I spend with these traders and their success.
At the risk of sounding self-serving or arrogant, in considering the top three producers, I have spent some time with Bob. He turned $1,034 into over $6,500 in one month. Most of Bob’s trades are measured in mere minutes, before he finishes his morning coffee. Amazing!
I spent a little more time with Mike D. His take: $7,097 profit on an initial investment of $894 in one month. Mike was a professional trader. He’s seen it all… winning big, losing big. His ROI of almost 8 times his money in one month is stunning, especially with no end in sight!
Another example is Mujahid’s story, which I outlined in my previous post.
These are just three of my success stories that I am tremendously proud of. I love hearing success stories of traders using my strategy. In fact, every Tuesday and Thursday morning during Live Trading, I welcome my subscribers to send in their results of the morning, or even a proud trade they made during the week, because I am always interested in the progress they are making.
Contact us if you are interested in day trading successfully!
Hugh W. Grossman, Head Trader at Day Trade SPY.
Hugh Grossman is the founder and Head Trader at DayTradeSPY and uses his vast experience to teach his methods to make consistent daily gains trading SPY options. Join Hugh in his interactive Trading Room to see how he regularly pulls in the profits!
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