Jack Kellogg is a young trader who worked hard with great determination to become consistently profitable. The key behind his seven-figure earnings was his success mindset. Here are some tips shared by Kellogg that can help you adopt a similar thought process as well:
The first step towards making smart investment choices in stocks is to learn all that you need to know about trading. Kellogg is known for the time he spent studying extensively about penny stocks and day trading. His friend, who was familiar with this field, taught him the basics to start off with. Then he watched numerous video lessons by Timothy Sykes and soaked all the information in those videos like a sponge. It is important for you to build your knowledge account beforehand to minimise the chances of catastrophic failures.
Push Past Your Limits
He emphasises utilising every moment of every day to advance yourself as far as possible. An important part of this is pushing yourself outside your comfort zone as that is where the most learning takes place. Kellogg says, “I started this business because I love the game & I wanted to become the best at something that was very hard” hence proving that he wanted to accomplish something challenging to expand his horizon. This also includes holding yourself accountable when you fail just like Kellogg did. He faced some major losses along the way but it gave him a chance to learn from his mistakes. Not many people are willing to share their worst trades in detail and admit their own shortcomings, but he publicly admitted his mistakes in a video posted on Profit.ly and redefined his boundaries to be able to get on the right path again.
Set your Priorities Right
If you want to achieve success in trading, you need to completely immerse yourself in achieving your goal. Kellogg devoted his entire life to trading for around 4-5 years. When he wasn’t trading, he spent his time studying, analysing stocks, and obsessing over the market. He prioritized his career over everything which meant sacrificing time with his family and friends. The willingness to devote all his time and energy to his work helped him get where he is today. In this case, surrounding yourself with the right people who motivate you to do your best can also be of great help.
Jack Kellogg’s work ethic and commitment are admirable and played a huge role in making him successful but it’s important to realise that his results are not typical. Consequently, following these tips does not ensure guaranteed profits but is definitely the first step towards success