I get it. You want to know how long it's going to take for you to get good at trading and the money to start rolling in. Let's talk about how long it will take you to be successful in the stock market.
How Long Does It Take To Be Successful
Trading the Stock Market
So, I get asked a lot, Tela, when is this dough going to start rolling in? When can I expect some money? I get asked these questions ALL. THE. TIME. Believe me, I get it. You want results and you want them NOW. You want to see some type of progress right now. That's the point, right? To make some money! I get it however when I’m asked:
Can I get started today and make $3,000 in a month?
My answer is always... NO.
Can I get started and make $3,000 by next month?
My answer is always... NO.
Now I hate to be the bearer of bad news but there is a lot to the stock market as far as what is going to make you successful. There are a lot of factors that come into play when determining your success and how long it takes you to get there. So, I always tell people not to come into the stock market thinking that it is a way to get rich quick. You cannot come into this wanting to get rich quick and think that you’ll be successful. That is the quickest way to fail - not to be successful.
Once you get past that then it’s the fact of learning how to trade. But, you have to determine what exactly is success to you. This is something that I go over with the students in my Trade Your 9 to 5 program. We go over what success looks like to them or what we call their financial freedom number. Some people have a plan to become debt free and only want to make $2,000 each month. That's what we work on.
Once you are debt free, what does success look like? How much do you need to make to maintain the lifestyle you want to live? To some it's $2,000 each month, to some it’s 4,00 each month, and to others, it might be $10,000 each month or more. All of these are okay because that’s what success means to them. So it's important to identify what success in the stock market will look like for YOU. Is it that you want to trade your 9 to 5 and have the option of knowing what your income will look like?
Or maybe you just want to make a hundred dollars a month of additional income. You just want to invest, and make that additional income here and there, and that's success to you!
Or maybe you just want to build your retirement over time by a certain amount and that's what you would feel as being successful. That's what you have to identify.
Then, there's terminology and a trading process to learn... and honestly, the only way to really become good at trading the stock market is to get out there and start trading. I know you're scared to get started or you may not understand it all right away. But, you're not going to learn and make progress unless you start.
It's like working out. You're not going to see progress overnight. You're not going to go to the gym today and wake up swole tomorrow! It's not gonna happen fellas! And ladies, you're not going to go the gym today, and wake up slim tomorrow. You have to put in the work. You have to plan to eat healthy everyday, and you have to work out several times a week. Being successful in the stock market is the exact same. You have to put in the work to learn it. You have to study and work on learning it everyday or your not going to make any progress and you're definitely not going to be successful in the stock market.
So if you feel like it seems scary, daunting or something that you can't learn, well, you CAN'T learn it if you're just sitting there dwelling on the fact that it seems hard. You have to get in there and you have to start learning.
have a great series that we did in my Facebook group called the Build Your Watchlist series. Through that series, I take you through how to pick out stocks that you can trade and invest in because I know that is one thing that stops you. By the end of the Build Your Watchlist series, you will have a list of stocks you can potentially trade and invest in. You can then branch off from there to see what other companies are out there. But you HAVE to get started in order to be successful. It's either day one, or one day and it's up to you which one it's going to be.
Don't sit back and be nervous or afraid to ask questions, because it's going to help you be successful. If what you're trying to achieve is important enough it's important enough to ask the question, What does this mean? How do I do this? Where do I go for this? Ask the question. That's why I have a free Facebook group for you to get in there and get that help, and get those questions answered so you can start learning, building for retirement and building the financial legacies that our families don't have right now. We are where that STOPS. WE are the ones who are going to break that cycle of not having financial legacies in our families. So we have to get started. Stop being scared. We have to make that first step for our families. YOU have to make the first step for your family, and for yourself. BECAUSE IF YOU DON'T NO ONE ELSE WILL.
Join the Conversation
What would being successful in the stock market look like for you? Tell me in the comments!