Every January, without fail, the TV news networks run endless stories on the best New Year's resolutions to make. You probably saw at least one today.
At the top of those lists? You guessed it: "Make more money."
That's a great goal. But, trouble is, by February... at least 90% of people have already failed.
Now, that's not because making more money is impossible to do - it's not.
In fact, it's a combination of reasons, including getting a lot of bad financial recommendations.
But you're not going to become a part of that statistic this year...
Because I'm going to show you the two simple steps you need to make your 2018 the most profitable year ever.
Now, let's get started - just look at how easy making more money can be...
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Step No. 1: Identify Your Trading Type
Of the hundreds of technical tools at your fingertips today, none of them will be able to do one thing: control your trading behavior.
Your personality, your emotions, and your risk tolerance are unique. Even if you have memorized every form of technical analysis and studied Warren Buffett's every move, that doesn't mean you're going to have the same success. If you simply copy what a book or trader says to do and when to do it - without identifying your own trading type first - you're actually doing yourself (and your portfolio) more harm than good. Ultimately, you're doing nothing more than gambling and hoping for the best.
THEY CALL HIM “THE NIGHT TRADER”… and he’s already up to 929% in total gains. You have to see this…
You need to know which type of trader you are (directional or non-directional) so that you can whittle down the strategies you should focus on for profits. Directional traders focus on price and time. On the flip side, if you're a non-directional trader, you're going to be looking at volatility first.
But before you even think about placing a trade, make sure you do this...
Step No. 2: Set Your Price and Time Targets - Every Time
A lot of technical indicators are constructed around moving averages that give you "buy" and "sell" signals. But what if, for example, you see a signal to sell before you've gotten any kind of real profit - and THEN take a loss? I think it's safe to say you wouldn't be too happy - and would probably think whatever indicator you used failed.
That's why it's best to establish your price and time targets first. You can do this easily by looking at a stock's past price moves and patterns and eyeballing the time frame in which you need the price moves to happen. Establishing the price at which you need a stock to move and the time frame in which it needs to move is extremely important, because it prevents you from taking a trade that costs too much and requires you to wait several years for profits.
Trust me, this will save you a lot of headaches (and money, of course) in the future.
Take these two simple steps, and you'll be fast on the road to a wealthier, more profitable 2018.
But, I want to show you something that can kick your New Year's returns into overdrive...
I'm putting the finishing touches on the presentation right now. It'll be ready in a few days, on Dec. 27 at 8 p.m. ET. It'll show you how to get into position to potentially score an extra $7,320.70, $21,962.10, or even $73,207 in five simple moves.
You can claim your spot in this online-only wealth event by clicking right here - you can sign up for a VIP reminder service, too, so you won't miss it. You'll get a text reminding you to tune in.
I'll see you Wednesday, Dec. 27, at 8 p.m. ET.
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About the Author
Tom Gentile, options trading specialist for Money Map Press, is widely known as America's No. 1 Pattern Trader thanks to his nearly 30 years of experience spotting lucrative patterns in options trading. Tom has taught over 300,000 traders his option trading secrets in a variety of settings, including seminars and workshops. He's also a bestselling author of eight books and training courses.