Living a location-independent lifestyle where I can work from anywhere and reaching financial independence are two goals I am actively working on. While the 2020 pandemic sparked me to work remotely full-time, I am always looking for new ways to grow my income – here are some of my income streams (I have about 17 now). So when I saw the lineup of speakers at Wealth Noir’s Work Sabbatical Summit, I knew this was an event that I could not afford to miss. Sessions included finding the perfect location to live abroad and radical savings to accelerate your early retirement. One of the sessions that piqued my interest was the Q&A session with Teri Ijeoma. A big fan of her work, I’ve been following Teri for years, and you might recall her being a guest of The Thought Card Podcast, where she shared how to trade stocks and travel full-time.
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Teri Ijeomia is an entrepreneur and professional day trader. She went from earning $60,000 as an assistant principal to earning six-figures per month teaching others how to trade stocks in her Trade and Travel course. With Trade and Travel learn the strategies Teri has used to become a successful day trader, earn a full-time income, and reach financial independence.
While Teri shared many practical investing tips, she also shared valuable lessons for new investors. Here are the five investing tips I learned from Teri Ijeoma at the Work Sabbatical Summit. If you would like to watch her session, get access to the summit replay on-demand here. The Work Sabbatical Summit by Wealth Noir offers tools to help you successfully plan, afford, and take a work sabbatical.
Tips On Investing In Stocks I Learned From Teri Ijeoma
Don’t be greedy
Wanting to make more money in the stock market can sometimes put your portfolio at risk. Teri cautioned us to be aware of the emotional side of trading. She advised us not to chase plays — buying high because you don’t want to miss out on the upward momentum. To combat FOMO, she recommends remembering that there will be more opportunities in the future. There are opportunities to make money in the stock market every day. The sooner you can control your emotions, the fewer mistakes you’ll make and the better trader you’ll become.
You, will, make mistakes
As a new investor, making mistakes is inevitable. However, what matters most is to make a note of your shortcomings, brush yourself off, get back up and try again. The goal is to stack up small and consistent wins while keeping your losses at a minimum.
Press play to listen to my interview with Teri on The Thought Card Podcast — we talk all about what inspired her to quit her job to trade stocks full-time and how she started making $1,000 a day as a day trader.
Never pay full price
You never want to pay full price for a stock. That means do your research. Gather information and wait for a stock to go on sale. Remember the stock market is a true marketplace where buyers and sellers are negotiating on price. Do not feel pressured to trade a stock because you don’t want to miss out on either a buying or selling opportunity.
Learning how to trade is a lifelong skill
My dad tells me this all the time, but learning how to trade is a skill set that you will have for the rest of your life. Putting in the time and energy to master the craft will help you generate income, and you can pass down this skill to future generations.
While you can learn on your own, why not limit your mistakes by learning from an experienced trader by taking a class like Trade and Trade. Teri mentioned while working full-time as an assistant principal, she took a course to learn more and hone her craft.
Create a trading plan
Lastly, Teri encouraged us to create a trading plan — a set of rules that will lead you to success. The hardest part will be having the discipline to stick to it.
Your trading plan should incorporate the following:
- What are your financial goals?
- How long are you willing to hold a stock?
- When are you going to make time to trade?
- How will you mitigate risk?
Overall, Teri Ijeoma’s session at the Work Sabbatical Summit was inspiring. It reminded me to think bigger, and she showed me that it’s possible to generate regular income from the stock market. Not only has trading afforded Teri the ability to quit her job and travel the world, but she recently retired her mom.
Through Teri Ijeoma’s Trade and Travel course, she has helped over 1,000 of her students make $1,000 a day trading stocks! Her students have used the income they’ve generated from trading to pay off debt, quit their part-time or full-time jobs, and more. While the stats say that 95% of active traders will lose, she’s proof that traders can beat the odds.
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Danielle Desir is a financially savvy traveler, 4x author, and podcaster. She paid off $63,000 of student loan debt in 4 years, bought a house at 27, and has traveled to 27 countries. She refuses to let her financial responsibilities hold her back from living life on her terms. Listen to The Thought Card Podcast here which has over 80,000 podcast downloads.