The Profit Room

One second you’re watching your charts 📉😁the next second The Fed Chairman starts talking and your whole trading account needs CPR.😭🤯

Funny video, but there’s a serious lesson here.

One rule I teach my students: Stay out of trades during major economic news announcements, especially FOMC.

Markets can move violently in seconds. Your stop-loss might not execute at the price you expected, and one bad decision can wipe out weeks of progress.

Sometimes the best trade is NO trade.

Protecting your capital is just as important as making money.

Who’s ever been caught on the wrong side of a news announcement?

Everybody who can trade isn’t necessarily ready to teach.

And in today’s world, that distinction matters more than ever.

There are more trading educators, courses, mentorships, communities and personalities than we’ve ever seen before.

Some are great. But before you invest your money and more importantly, your trust it’s worth asking:

Who am I actually learning from?

What’s their history?

How long have they been doing this?

What did they accomplish before they became an educator?

Can they explain the process beyond showing you a winning trade?

If you’ve ever paid someone to teach you trading, here’s my question:

What made you trust them?

So how long does it actually take to learn how to trade?

That’s a fair question and I think Latoya gives a very honest answer here.

Here’s the distinction I don’t want people to miss:

It doesn’t necessarily take a year just to understand how to place a trade.

We’ve seen people understand the fundamentals, charting, setups, entries, exits and risk management much sooner. As Latoya mentions, some people can grasp significant parts of the process within a few months.

But understanding something and becoming consistently good at it are two different things.

The goal isn’t to have three good months, make some money and assume you’ve mastered the market.

It’s developing a process you can continue following when you’re winning, when you’re losing, when the market changes, and when your emotions get involved.

You can start learning today.

You can start practicing what you learn.

You can potentially begin seeing progress much sooner than you think.

But mastery deserves repetition.

That’s part of the conversation we’re having in the first episode of Conversations with The Profit Room.

Full episode drops on YouTube Friday, October 9.

Question: How long do YOU think someone should practice a skill before expecting to be great at it?

“I need to learn trading because I want to quit my job in three months.”

We’ve heard versions of that more times than I can count.

And after 10 years of teaching, I’ve realized something:

Sometimes the worst way to approach learning this skill is needing it to rescue you immediately.

And I’ll take responsibility for part of that.

In the early days of The Profit Room, we posted a lot of profits. We wanted people to see what was possible.

But sometimes people saw the result without understanding the process that came before it.

So they came in focused on the money.

Not the education. Not the practice. Not the psychology.
Not the risk. Not becoming a trader.

That’s what Latoya and I are talking about in this clip.

Think about almost any respected profession.

So why do we sometimes expect trading to be different?

Can trading potentially become another way you create income? Yes.

But if your first thought is “I need this to pay my bills immediately,” you’ve already put pressure on yourself before you’ve developed the skill.

That’s something I understand much differently today than I did when we started The Profit Room.

And these are exactly the conversations Latoya and I wanted to start having again.

Not just how to place a trade…

but what we’ve learned from watching people try to become traders for the last decade.

CONVERSATIONS WITH THE PROFIT ROOM

First full episode drops on YouTube Friday,

Here’s my question:

Do you think people take trading as seriously as they take learning other professions?

Watch here:
https://youtube.com/shorts/pFsz9zIZjyE?si=ZGkfX9rhLTefcCzI

Sometimes financial freedom isn’t about becoming a millionaire.

Sometimes it’s much simpler.

Someone you love needs help…

And instead of saying, “I wish I could,”

you’re in a position to say: “I got it.”

That’s one of the reasons Melissa’s story has always stuck with me.

She was working a part-time job on top of everything else she had going on. She decided to learn another skill, and trading became part of her journey.

Then there was a moment when a family member needed some financial help.

Melissa was able to help and as you’ll hear her explain in the video, she was able to do a little more than what was asked.

That’s what I’ve been talking about all week when I ask:

What does freedom look like to YOU?

For Tricy, it looked like more time, less hustling and being able to travel with her husband.

For George, it was becoming a student again in his 70s and proving you’re never too old to learn something new.

For Melissa, part of it was having another skill and being in a position to help someone she loved.

Different people.

Different stories.

Different definitions of freedom.

And no, trading isn’t guaranteed income. There are wins, losses and risk involved. You have to learn, practice and develop the skill.

But if you’ve been telling yourself for years that you want to understand how the market works, maybe it’s time to stop watching everybody else and finally learn for yourself.

That’s why we created “The Freedom Trade.”

Right now we’re including a 1-on-1 Trading Plan Session with one of the founders of The Profit Room.

Check my profile for The Freedom Trade.

Then ask yourself one question:

If you had another financial skill, what could freedom look like in YOUR life?