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Good day subscribers thank you so much for joining me today i am jeremy this is the financial education channel in today we’re talking about 10 traits that i believe a multi-million dollar potential stock market investor has to have no that doesn’t mean that if you don’t have one of these traits you’re never gonna be successful in the stock market and those kinds
Of things these are just the 10 ideal traits that i would say if if someone seriously realistically has these 10 traits i would say there’s like a 95 plus percent chance that you’ll be a multi-millionaire in the stock market but you have to have these tens rates to be at that type of percentage but like i said if you don’t have one of these traits you could always
Work on these traits and i mean i seriously i’ve struggled with some of them over time but mostly i’ve adapt and adapted and figured out i need to get in this type of process because this type of process is what can help you be truly successful in a stock market in my opinion it’s my opinion and i respect anybody who has a different one at the same time guys so
Leave this video a thumbs up and let me know if you guys enjoy it let’s get into this guys so number one trick number one trait by far in my opinion it’s someone that you know has millionaire potential in stock market is you have to have high self confidence in yourself when it comes to investing high self confidence you cannot be the type of person and have the
Type of personality that is always second-guessing yourself when you go to make an investment you can’t go in there make an investment in and be like oh it was that really the right thing and maybe i should sell because that’s gonna what’s gonna happen guys you’re if you don’t have high confidence you’re gonna end up selling before you should sell you’re an end up
Basically buying something when maybe you shouldn’t buy something because you’re always gonna be second-guessing yourself because you don’t have high self confidence you have to have very high confidence if you’re gonna be a successful stock market investor a lot of negative things are gonna be said about your stocks you’re gonna have a lot of people coming at you
A lot of ways you have a lot of people telling you you need to put your money in this stock rather than the stock you’re in and those kinds of things you need to have high self confidence in yourself that you’re making the best decision possible you are making the best decision not somebody else making that decision for you so if you don’t have high self confidence
Gonna be very very hard for you to succeed in this game i don’t think i’ve ever known anybody to be successful in this game who doesn’t have high self-confidence when it comes to investing guy and so that’s trait number one by far the most important in my opinion trait number two is you had gotta have the ability to not get emotional when it comes to stocks you
Have to kind of like separate yourself and just understand that a stock is a way for you to make money don’t get too emotionally attached from that stock because generally speaking you’re gonna sell that stock at some point in time might be a few months from now might be a few years from now might be a decade from now but at some point you and that stock are gonna
Break up that stock is not really meant for you to be together forever i’ll just be completely honest guys so you and that stock are gonna break up at some point you let it be emotional he prepared every time you go in there to understand that so don’t fall in love with it too much don’t ever be at the point where you don’t want to hear someone else’s opinion on
That and i had a flake this yeah for a lot of years guys you know i saw somebody putting something negative about one of the stocks i own you don’t know anything they’re so stupid i get all offended and whatnot and type of message back to them and whatnot over the last few years i just kind of like matured and just realized i might as well hear what they have to
Say you know maybe if there’s a crock of crap what they’re saying but still at least i’m willing to hear it i don’t get offended people all the time come on my channel and you know talk about some of the stocks i own you don’t know anything you’re an idiot for being such a such stock and that’s fine you know they want to you know have their opinion that’s fine i
Don’t get offended over it like oh you don’t know what you’re talking about man you know i don’t get emotional over it’s just a way to make money guys so don’t get emotional over your stocks number three you’ve got to have the ability to keep learning keep learning there’s so much to learn in this king guys there’s so much to learn you’re not gonna learn at all in
A few months you’re not gonna learn all in a year there’s so much to learn it’s like it’s literally like a never-ending process and everything is cumulative when it comes to investing knowledge you’re gonna learn stuff you know i’ve learned stuff over the past few years then my first few years of investing i had no clue about i’ve been doing this for eight nine
Years now and things i’ve learned over time i mean i’ve learned probably more stuff over time on how to judge a stock had a value of stock those kinds of things that you know most people i’d probably forgotten more stuff than most people have any clue about so you’ve got to have the ability to keep learning and just always keep learning always before i mean i’ve
Still i didn’t even get into options and really understand how to hedge positions properly until i was probably already invested four five six years guys what we’re talking about a long time into the market before i really started to understand hedging a position or started understanding options and a lot of the more complex products and those kinds of things guys
So that’s a that’s a big key is ability to keep learning and not just not just stall out and stop you know some people think i’ve learned everything and no you’ve never ever learned anything even me i haven’t even learned everything i’m still learning things here and there had a judge accompany and in the way wall street works and you know a lot of different things
That actually might go into another video sometime anyways number four work ethic work ethic work ethic this is a trait that not only for you know stock market investor but just if you want to be a millionaire or successful business owner or anything in life you’ve got to have strong work ethic investing is a lot of work it is really a lot of work you got to be
Willing to put in those hours reading the 10k annual reports on the investor relations page of your company you’re looking into you know be willing to read the ten q’s you got to be willing to listen to conference calls you got to really be passionate and because otherwise you might not put in that work ethic you could have very strong work ethic if you don’t want
To put in the work good luck if you haven’t being a successful investor guys it’s gonna be very hard for you i can just guarantee you nothing in life comes easy some people think oh man that guy just need you just made 10% on that money he’s got a hundred thousand and you just made ten thousand it’s so easy nothing in life is easy guys now maybe you can gambling
So stock or whatnot put some money and maybe get lucky but over time if you don’t put in the work ethic you’re not gonna be successful i’ve never known anybody who has in you put in the work ethic who got gains honestly they generally lose more money than they gain more money guys so we’ve gotta put in the work ethic and really understand your stocks number five
A vision for the future you’ve gotta have a vision for the future if you can’t really see out in the future and predict things then it’s gonna be very hard for you to be successful once again in and some people you know kind of are like against of vision and they just like are oh that company had a bad year last year or they did this last year doesn’t matter what
Matters is next year the year after the year after the next five years that’s what matters so you’ve gotta have a vision for the future and that’s another reason why i preach entrepreneurship on this video on this channel i try to do an entrepreneur video almost every week because i want you guys to think like entrepreneurs because entrepreneurs generally speaking
Or are always focused on what’s the next thing how can i build my business how can i get my business to the next level and it’s an entrepreneur tech mind you have to have to be successful at stocks you have to have a vision for the future if you can’t see out a couple years and see where the games going see where that pucks going and you’re stuck where the puck
The puck was you know if you’re playing hockey it’s gonna be hard for you so you’ve got to have a vision for the future that’s one that i don’t know if you can i don’t know if you can like teach yourself to have a vision for the future it might be one of those things people are just blessed with that it’s trade or not and it also might be something that you just
Have to be enough involved in the game that olsson you can start developing a vision i’m not really sure on how to develop that guys and you know until tell you a specific way this is how you do that it’s one of those traits that honestly you may just have it or you may not have it and also also if you’re you’re well encompassed and you understand all the points
Of view on the sector or an industry that will help you immensely and have that great vision for the future number six here guys you’ve got to have the ability to move on once you sell a position whether you’ve sold that position for a 50% loss or 50% gain you’ve gotta have the ability to move on you’re gonna you know once you sell that stock it’s over you know
What doesn’t mean you can’t keep track of it in the future whatnot but it’s over it’s all over at that point you got to dis tax yourself so if you had a great gain you can’t just keep you know pumping yourself up oh i had a great gain in my last one whoo no it’s over it’s in the past what matters now is what should your next stock is and if you sold it for loss
You can’t keep dwindle on that and thinking oh i’m such a failure you know you got move on i call it the nfl cornerback mentality if you guys know the nfl and football and whatnot not talking about soccer i’m talking about you know american football or quarterback they they have to guard the wide receiver a cornerback is probably the easiest position to look great
On one play and then to look horrible in the next place so nfl quarterbacks they have to have a very short mentality you have to forget the last play because otherwise they might get burned again they can’t get all excited if they had to love interception on the last drive because they need to get in the mindset of i can get burned on this very next play and look
Like an idiot so i need to you know forget about whatever happened in the past focus on what’s about to happen now so that’s the same mentality you got to have in a stock market guys if you want to be a millionaire investor next one up here guys number seven ability not to panic a lot of stuff is gonna happen with your stock a lot of stuff is gonna happen in macro
Economy you’re gonna always have the ability to not panic in a situation to look at it from a fundamentals perspective and not think oh my gosh this is going on i need a panic i need to sell everything i need to solve a stalking you to do whatever you you know if that’s the decision you made through through the whole decision-making process you go through that’s
Fine but don’t just panic into mistakes i’ve seen people lose so much money because they’ll panic on a day the market will because sometimes a market goes i mean lately the markets been okay but i have witnessed so many times in my lifetime where the market will just be going down and down and down and then i’ll say i’ll have a horrible day where it goes lie down
Like 4 or 5 percent and people will sell out of their stocks in lose like ten thousand twenty thousand dollars and then the next week it comes right back italy oh i just lost $10,000 $20,000 what am i thinking what i saw at that price because they panic so you guys do not want to panic you’ve got to have the ability to be joe cool and you know in in hairy situations
Whether it’s a macro economy whether there’s something with your stocks look at it from a fundamental perspective does it make sense for you to sell does it make sense for you to buy don’t just panic into a decision number eight here guys you’ve got a head the ability to no one to take a risk and win not to take a risk so there’s some situations where it’s gonna
Make sense for you to take a risk on stock or a lot of money into a couple stocks and whatnot some people look at me and they say jeremy you don’t you are you a risky investor you take risk i absolutely do take risks i invest in not a lot of stocks i’ll be honest i generally have five stocks or less sometimes i’ll be all in one stock but i know when to take a
Risk and when not to take a risk so that’s something you’ve got to have that ability because sometimes it makes sense to us being like one or two stocks i’ll be honest because something such a good deal that sometimes it makes sense but you’ve gotta know what you’re doing you gotta have a lot of experience you got to have all these other traits i talked about guys
Sometimes it absolutely does make sense sometimes it does not in and something might be a false flag and might look like i should take a big risk in the stock i should put 80% of my portfolio in and really it’s not so that’s you gotta have the ability to be able to take a risk sometimes and sometimes say no that’s not worth me taking a risk another a perfect example
Is i track fitbit.fitbit down to under six dollars a share i’ve been tracking it you know since it was like 14 dollars a share and you know i was kind of looking at eight and a seven i was thinking should i take that risk and i didn’t i think goodness i didn’t and in you know now the stocks at five and even now i’m like do i really want to take that risk in that
Stock does it make sense fundamentally and i have it so you’ve gotta know when to take a risk and when not to take a risk guys number nine here you gotta have an understanding on on different ways to make money in the stock market so there’s a lot of ways to make money in a stock market a lot of people think just buying a stock is like the only way you can make
Money no you can also make money from short selling you can also buy it make money from day trading things saying things like that that i don’t do you can maybe make money on penny stocks i don’t do that i don’t suggest name who yells do that but there are strategies out there that people will swear they can make money in it that’s fine i’ve never seen it ever
In my life but you know more power to them if they can you can buy long-term options on stocks you can buy short-term options on stocks you can buy put options on stocks call options short-term put options you know medium-term put options you can do so many different things that you can make money or lose money in the stock market guys so it’s very important to
Understand all those different ways of making losing money because sometimes it’s very helpful to filled to a head your position if you’re very much in the one stock or at a couple stops you might want to buy some short-term puts to cover and hedge your position so really learn about all the different options out there guys i have options videos if you that’s a
Subject you want to know about i probably have videos about short selling on this channel i mean i have like 300 videos i probably done a video on almost everything over the course of time so but also you know research outside of this channel and really learn about all the different ways to make money in the stock market because there’s a lot of them guys number
10 ability to put the shoe on the other foot and understand if everything can go wrong with that stock or or that investment you’re making or that short position or whatever you’re doing ability to put the shoe on the other foot and see the other side of things oh hey what if that company’s product is successful what if you know my company does go bankrupt what if
This happens what if that happens what if on this big company you know releases a product in in my space in my company space you’ve got to have the ability to put the shoe on the other foot and think about worst-case scenarios just just kind of so you’re prepared going in for what if this happened is this still a good investment what if abc happened you know say
Your say your gosh say you’re a walmart investor and you know you’re invested in walmart you got to think okay what if amazon beat us on price on every single thing and then they start offering amazon prime for free would that completely kill our business and what if they had the one-hour delivery would that killer business you’ve got to think about like all the
Worst-case scenarios for whatever your stock is you know we for instance watch stocks you know fossil and a lot of different movado a lot of those watch stocks back in 2012-2013 anybody anybody that was thinking about investing in a watch stock or was gonna invest in a wash stock you should have been thinking about what if apple comes out with a watch of their own
What if samsung comes out with a watch and these new these new electronic watches take off these new smart watches what if they take off what’s that going to do to our biz you had to be thinking about those things so think about worst-case scenario whenever you’re going to make an investment that’s something i am done well enough in my life my investing career
There’s been some situations i been in where i did not think about what if the worst-case scenario actually happened so that’s something i’m trying to adapt and get a lot better at and that’s probably the trait i have the worst of right now out of out of all those traits number 10 that that ability to put that think about worst-case scenarios so that’s something
I’m trying to get better at and trying to think with the worst-case scenario happen guys so excuse me i hope you enjoyed these ten to a tree it’s a long video i need a drink of water i hope you enjoyed these ten traits today guys on how to be a millionaire investor in stock marketer like i said if you have these ten traits there’s a very good chance you’re gonna
Be well off and you’re gonna get great gains if you truly have these 10 traits guys i came that see why you would not have it unless you just have a bad strategy investing in stocks and those kinds of things guys so thank you for watching this today if you just came across this you have not subscribed yet you may want to we talk personal finance news channel we
Talk entrepreneurship on the channel we talk to stock market the most in the channel follow me on twitter that link is in the description that’s the one and only other meet social media account i have them trying to build that over the next month or so because we have like 200 followers right now it’s really pathetic and we have like sixteen seventeen thousand on
His channel so we all way to go on the twitter account so follow me on there i am going to start probably live streaming once a week or something like that and taking q&a and those kinds of things guys so thank you for watching and have a great day
Transcribed from video
Do you have these 10 Traits to be a Millionaire Stock Market Investor? By Financial Education
