Many of you may know that I am participating in a Million Dollar Journey this year. Let’s break down the mindset, what this means to me, and what it means for you…
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Million Dollar Journey
I am on a mission to make one million dollars profit in the stock market within 12 months. Why? This is a personal goal of mine. When you think about the discipline and person you need to become to achieve this goal, it challenges you and forces you to look at yourself as a person. What areas in my life do I need to clean up? How do I need to get in shape mentally, spiritually, etc? Am I sticking to my rules and doing what it takes to make the goal?
The goal allows me to stay on track monthly. This is good for anyone who is trying to set a financial goal. When I looked at what this goal was going to take, I believed I can make a consistent $20K per trade. So I took $1 Million dollars divided by 12 months – which is about $100K a month. I am overshooting so I have a couple of months just in case I do not make it. What do I think I can be profitable per trade with? About $20K per trade. So $100,000 divided by $20K is about 4 or 5 trades a month. And that is exactly what I am going after.
Right now, I have been able to generate about $100,000 in about 2 months, that overlaps a little into last year. This past month in January, we are at $120,000. So I was able to clear my goal and then some. This really keeps me focused and on track for what I need to do. I feel like my trading has gone to another level and I have really been able to zone in on the 4 or 5 trades. The funny thing about it is, that I am making more money per trade so it is only taking about 3 trades to make it.
Sometimes you will find in your goals, you do not need to do everything you planned. For example, I found that I only needed about 2-3 trades instead of the 4-5 that I had planned on.
What does this mean for you?
First of all, you can follow me on this journey on Instagram. All you need to do is hit the “follow” button by clicking here. I am sharing the behind the scenes aspects behind it, when we close out the trades, the in between time, and the fun stuff we do too to make it all happen.
Second of all, you need a game plan. Most people have a goal of making more money, but they also do not have a game plan to get it. They may just say, “I want to make more money” or “I want to quit my job by the end of the year”. Well, do you understand how much it takes to quit your job? How much money to generate? To pay for your own health care? To pay for taxes? If you haven’t thought about the HOW, even if your goal is to buy a new car or house or whatever, what I want you to do is write down the number. Then divide that by a 12-month period and figure out how much you need to make per month. Once you have the monthly number, decide how many trades that is. For example, if you want to make $10K a month, is that 3 trades at $3-4K?
Three things will become very clear as you start to achieve your goal…
- The timeframe
- How much money you need to start with
- What you need to do to reach your goal
By asking what you need to do to reach your goal, you have decided to generate that type of return and reach your goal. Now your brain is asking HOW? Do I need to trade options? When I decided to do 4 trades at $20K each, I started to look at the charts differently. I needed to look at stocks that were on the move. Having this clarity helps you understand what strategies you need to use and the type of trading you need to do.
This is so important because you may think you need to do what others need to do – the reality is you may not have the same goals, the same funds, or same experience.
You need to think about what you want to make personally according to what your circumstances are.
Then come up with YOUR plan…
- What do you want to make in the stock market?
- How much do you need to make a month?
- How many monthly trades is that?
- How much money do you need to start with?
- What type of education and trading do you need to do?
Mindset
I come from a background where I used to have a $100K a year salary job, a nice lifestyle, and it was okay. It took care of the bills, nothing lavish. Now I look at where I am at… and I need to check myself. I am staring at consistent $100K profit months. My reality can get a little skewed. I remember my initial goal was to make just $50 bucks a week so I didn’t need to work Saturdays at my first job.
To come from that into 6-figure job in a year then to 6-figure months can alter reality. Some days I think it should be more and that I need to trade better, and that’s when I knew I needed to slow down and be grateful. My reality now is that is becoming the new normal to me.
There is nothing wrong with working with a company, and I enjoyed it, but when a whole new world opens up for you, your vision can become skewed. I had to slow my roll and check myself.
The same mindset can be done in reverse: It can be scary to place your first $100 in the stock market. You do not know if you can make this work for you. The other end is making $100K isn’t enough. You could be on either end of the spectrum – so balance is key.
If you are wondering if this will work for you and you are very nervous, you need to realize that you need to start somewhere. Take action no matter where you are at. You will never get anywhere if you are sitting on the sidelines.
Then on the other end, once you get to the level you want to be at, you need to make sure that you do not get cocky. I am always talking myself to stay humble and donate to causes that are important to me. Otherwise I am hoarding money and I need to look at: What’s the point? Why am I even on this journey?
What do you even spend this type of money on? The day is pretty normal. The reality is, when you think about making money and serious income, it is about legacy for me. Nice cars and homes aren’t that important to me. Once you have the money to have nice things, you don’t even want it even more. I do not want to spend my hard-earned money on splurges.
Mastermind
Now something I am willing to spend money on… I just joined a high-level mastermind at $25K. This is a group of multi-millionaires or multiple six-figures, and people who are generating income in a positive way. Spending this type of money to join was a no brainer to me. There is a whole other set of issues and conversations that need to be had when you are making more money. And a way to gain this type of support is to join a mastermind. What is interesting about it is that no one is talking about how much money they are making in the group. Everyone is helpful and sharing tips about what they are doing with their business or investments. Everybody was trying to help each other. And to me, this is so much more important than spending that type of money on a watch, for example.
This makes me think about our Power Trades University program. We have an All Access pass where you get access to all of my courses, the live Group Coaching webinars, the discussion forums, just so much in there. When you think about how you go about trying to reach goals or trade in the stock market, most people are going at it alone versus having an inner circle of support. These are people headed in the same direction who are bouncing ideas off of each other. Most people are worried about the price tag of how much something like that costs versus the relationships, the knowledge, and information you gain from being inside.
One of the questions asked inside of the Mastermind group that I am now part of was: What would be a phenomenal year for you?
And that is what it is about – it is about being around people that are going to push you to this mind-blowing level that you want to reach. My philosophy in life is, you don’t know what you don’t know. I am only one month in this Mastermind, and it is incredible. I am so excited for the experiences and relationships I have made already.
No matter what level of money you are making, decide: what are you doing that may be outside of your comfort zone to take you to that next level? And that is what we offer for traders within Power Trades University. There is something different where everyone pays the same to be apart of something. People who have experience and are there to help.
YOUR Mindset
I am on this Million Dollar Stock Trading journey for the benefit of saying “I could do it”. I want to look back and say “This year was impossible and we did it”. I want YOU to do the same thing. What do you have to do TODAY to get there? There will always be a problem and a reason to delay. Do not just make excuses. You want to work on the mindset, wherever you are at in the spectrum. No matter where you are at look at your spending habits and debt. If you want to know what it feels like to be debt free – it feels like FREEDOM. It feels great to not owe anybody anything. You want to get that piece under control first.
We may all have a skewed view of how much money it takes to live – it is different for each person. What are you willing to sacrifice? The difference between where you are and where you want to be is the sacrifice you are willing to make today. There are no excuses, the amount you need to live on is very minimum.
The sacrifice is the difference to making it happen.