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How to Deal with Unpredictable News in the Stock Market

– What's up? Tim Sykes, millionaire, mentor, and trader here in Tulum Look at how beautifUl this is except that it's freaking pouring out

Can they see that it's pouring? – (Cameraman) Yeah – They can see this? – (Cameraman) Pretty sure – All of our friends are going down to the beach We can hear them screaming and squealing like little children Leave a comment underneath

Would you stay inside during a rainstorm or would you go out into the wild Mexican unknown beaches for possible death but also possible fun? (rain pouring) I don't know which is gonna happen here It's gonna be interesting either way I have a feeling they're gonna come back up in about five to 15 seconds 'cause it is pouring But we're also in this tropical area so it's kinda nice I wanted to film this video specifically because I wanted to show you that you can plan, you can be as rich as possible in an area, you can do everything right and yet something can still go wrong

Mother Nature, for example, in this case I was gonna film this happy video, look how beautiful this is Obviously that's not happening here So you gotta be careful a little bit but understand that's what make life, that's what makes stock trading so much fun It's unpredictable, okay? You can't control everything

It doesn't matter how much money you make, it doesn't matter what you do, how much planning you have, sometimes stuff is just gonna happen, okay? And they're having fun out there I'm not going out there, I have a sore throat, I don't wanna get any sicker We're visiting 10 of my libraries with my charity tomorrow and I just want this to be kind of a visual reminder, (bleep) is gonna happen to you, okay? Whether you're in a trade and it's not going well and for whatever reason, your website, your broker shuts down and you can't exit Sometimes you're in a trade, unpredictable news happens and the stock starts going the other way Don't blame yourself, okay? I get a lot of discouraged students where they lose money, they make a mistake, and they can't get over it

And what you have to understand is that (bleep) happens But I want you to see that this is gonna happen to you and you can't be discouraged, you just have to get over it the best that you can I wish that I wasn't stuffy right now I wish that I didn't have a sore throat I wish I could go out there in the water and have fun too but guess what? I've been working too hard, burning the candle at both ends, you know, I just came from Art Basel, raised a bunch of money with Mat's art show

The prints go to the Karmagawa Foundation, my charity So I have no good news for you, okay? I just wanted to get on camera and say this happened I was gonna say like, "I didn't make money today," but that's a lie, I actually made like 600 bucks Just gave a webinar, the Wi-Fi actually worked, so I think the lesson here is when bad stuff happens, when stuff that you can't control happens, look to the bright side I know this isn't the most technical video but it's still useful, okay? My job is to try to teach you, try to get you having the right mindset

I hate seeing discouraged students where you lose money or you make a mistake and you stop studying And you punish yourself Like, don't punish yourself when you make a mistake That should encourage you even more, right? Like, I have some students who break my rule number one about cutting losses quickly If you break that rule and you don't cut losses quickly and you have a big loss, that shouldn't discourage you

That should be like, oh, this is a wake up call Let me actually follow Tim's rules next time so I don't have that big loss What you have to understand is that life is a marathon, trading is a marathon, getting rich is a marathon There are no quick answers and if you do happen to have something that happens too quick, like a lot of these like athletes or child TV stars, they get screwed up in their heads because they don't really appreciate the journey that it should have taken to get there Or trust fund babies, right? Like, they have all this money, they have no idea

For Karmagawa, I'm very fortunate with my partner Mat who's a great designer and he has connections galore and we just created this new charity apparel in Japan and we just had an opening at like the number one store in Japan which thousands of other real, like, you know, merchandise companies Like, you know, we're a charity merchandise company, like we still make good merch but that's not our main focus But like there are thousands of hardcore designers who are working nonstop, trying to get their clothes into any store and we just leapfrogged all over them and we're in the number one store and I felt like a trust fund baby, 'cause I didn't really earn it, but I just picked a good partner in Mat So long story short, you gotta at the positives Look for that journey

Get excited for the journey Get excited when something goes wrong That's part of this all, okay? If everything goes perfectly, if everything's just rosy all the time, that's boring You're not gonna appreciate it There's a great quote from the movie "Vanilla Sky" and it's probably from somewhere else too but I watch a lot of movies

"The sweet isn't as sweet without the sour" So I, once upon a time, had a $500,000 loss You can read all about it and my haters still bring it up It was over a decade ago I've made it back many times over but at the time, I was very depressed

I turned to drinking for several months You know, I didn't know if I could get back up but then I got back to my main strategy where I had made millions of dollars not investing where I had lost money and I focus on rule number one Back then, I didn't even have rule number one I didn't have risk management So the loss, while it sucked, it helped me define my rules

It helped mold me So use these negative experiences, use your losses and mistakes, to help mold you to learn what not to do This isn't that bad of a mistake I mean, it was just raining for a little bit It just kind of screwed up my video but I wanted to make a video about that, okay? So many of you cry when you have a loss or you have a mistake

That's part of everything Use it, learn about it, remember it Don't just hide it, don't pretend it doesn't happen We all make mistakes Stuff that we can't plan happens to all of us

It's all about how you react to it and keep moving on and overcoming it and then when you eventually find success, you're grateful for those mistakes and those losses and those setbacks and obstacles along the way That's today's lesson Leave a comment underneath, again, whether you would go outside in a rainstorm in a tropical area like this or would you sit inside like a Jew with a sinus infection? You tell me 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

Source: Youtube

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