In the 30's, 40's and 50's, there was no internet. The majority of people didn't even own televisions. This meant that only the very wealthy had access to the stock market and to people who could get them in and out of stocks. Because of the limited information, even those who had access mostly stayed with the names and companies with which they were familiar. The main exceptions were people who actually worked on Wall Street.
In the 1990's the technological revolution began. Internet connection became dominant and leveled the playing field of the stock market. Now everyone has access to Wall Street. Tyrone's favorite website for researching the stock market is yahoo.com/finance. He uses this research tool to look at a company's profile, 5 year chart, top-line revenue, major shareholders and more, all before logging into his brokerage account to actually execute his trades.
Yahoo is great for research but it does not give you strategies, trades, and ideas for actually making money in the market. It also does not explain the language and vocabulary of the stock market, which can make beginners feel intimidated.
Tyrone breaks down stock market terms so that you can speak the money language with fluidity:
Bull Market: refers to the rising of most stocks, the general forward movement of the stock market
Bear Market: refers to the general decline of the stock market
Index: a listing of certain stocks, generally used a measurement of the value of a section of the stock market to determine the overall market's current strength
Examples:
Dow Jones Industrial Average – The top 30 stocks in the US stock market
Standard and Poor’s 500 (S&P 500)- The top 500 stocks in the US stock market
Divergence: happens when the DOW Jones is up but the S&P 500 is down, or vice versa
Allocation: the way an investor divides his/her money into different portfolios and stocks for different purposes
Building a Position: Purchasing shares of a Dow or growth stock and buying more shares when the stock price increases in small increments
Float: The amount of shares in the public domain to be traded on a daily basis
Dividend: As a shareholder, your share of a company's profits distributed generally on a quarterly basis
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Tyrone Jackson feels that podcasting is a wonderful way of getting his message out to the world. This is a form of service - of helping the general public.
He only asks that if he helps you, that you in turn, help others. When you start making large sums of money you may find that you can help others; your church, your community, or a charity that you like.
Normally Tyrone is interviewing other people, so he doesn't often tell his story. However, he recently appeared as a guest on radio personality Debra Mark's show. She interviewed Tyrone on how he got started and why his approach to teaching the stock market works.
Tyrone Jackson was raised in Staten Island by a single mother in federally subsidized housing. He remembers there never being any money unless it was time for the income tax return. Tyrone took on his mother's money beliefs that life was going to be hard, making money would be a struggle, and that the only way to make more money was to get a job that paid overtime. But Tyrone had a barrel full of dreams and a curiosity about money and how people got wealthy. There was an inner conflict inside him.
Neighbors and people around Tyrone were moving forward with their lives, moving out of the apartments and into houses. He was curious how that happened. It wasn't until years later that Tyrone realized how powerful your thoughts are. Today he calls that your "millionaire mindset." No matter how much money you earn right now, if you can learn how to think and prioritize like a really rich person, you can become a really rich person.
Tyrone worked on television for years, and in television you are always wondering when your next gig will be. He learned he needed to put some of his paychecks away somewhere so he would always be okay between gigs. Later he learned the best place to put his money was the stock market. He learned he could open a brokerage account for only $500 and if he kept putting money in every month, then that money would grow. First he would add $50 per week, then $100 per week, then $1000 per month, and that's how he started to build his account.
Tyrone never thought of himself as a "struggling" actor. He was just on his way to the next gig and setting goals for the next phase of his life. As Debra Mark points out, he has always been a "glass half full" type of guy.
Years later, Tyrone teaches his stock market approach to people across the country. The Wealthy Investor approach is quite simple. In fact that is Tyrone's strength as a teacher - putting complex ideas about the the stock market into simple terms.
People are attracted to The Wealthy Investor because you can make lot of money, it's simple, and there's one core trade that gets people hooked. That trade is covered call writing: if you have 100 shares of a stock priced at $39, you can sell an option to someone else to buy those shares away from you when the stock hits $40. You make money for selling that right to buy, or option. For 100 shares, you would take in $100 guaranteed profit.
People are afraid because we have been conditioned to think that money is a service, that we should be paying someone else to take care of it for us. We believe that the people who handle money are much smarter than we are, but in reality they are not, they are simply doing their jobs. You can save money on the service fees if you learn how to handle your money yourself.
It is our belief about money, not our education, that determines how much money you make in this life. Tyrone teaches positive beliefs through story telling. However, he doesn't want to have to convince people. The message falls on the people who were meant to hear it.
Tyrone's advice for people who are ready to make changes is to stop hanging out with broke people. Birds of a feather stick together. We have a tendency to huddle together with people who are like us in our thinking and that is going to affect your money.
His other piece of advice is this: If all your dreams were to come true, write down what kind of house you would have, what kind of car you would buy, where you would like to live, what your perfect day looks like etc. We call this visualization. Your brain starts to focus on the things that are written down and the things you think about the most.
You are involved in the active process of creating your life every single day whether you realize it or not. You have appointments, things you focus on, to-do lists, and if wealth and financial freedom are not on that list, you will start to focus on the reality that you see around you every day as opposed to the reality that you want.
So focus on the reality you want, upgrade your friends, and remember to help others along the way.
To get the help YOU need, visit WITradeSchool.com.