As the political season really heats up we’re starting to see more and more talking points from the various candidates. While I’m not here to rant and rave in favor of one candidate or another, whenever I see economic talking points, I want to be sure everyone has a baseline understanding. In doing so, you’ll be in the best spot available to make an educated choice. Maybe you choose to go about it differently than I do, and that’s fine with me. If we’re both operating from a place of understanding but we simply disagree, then no problem there! With that being said, my goal is not to persuade you in one direction or another, all I want to do is explain trade tariffs and the considerations we all need to weigh in both directions. Are they good or bad? Let’s discuss it and do some clarifying!

For the beginner and person just getting started in the world of trading, this is a critical question and usually one of the first considerations. I recently had someone ask me about this topic but in more of a unique way. In doing so, they opened up the door for a different approach on the topic that should make things crystal clear. The vast majority of beginners go through the platform and broker process the wrong way. I don’t blame them. When you’re new and don’t know what you don’t know, part of that is not understanding the proper approach. Let me walk you through how to ask this question regarding platform and broker in the most complete way possible.

I realize saying something is “next level thinking’ reeks of exaggeration and being overly dramatic, but in this case, it’s not. There was a recent event that took place in the markets that illustrates how we as traders and investors need to be thinking in “next level” ways. To be fair to all those who fall into the trap (including me when I first got started), you aren’t stupid. In fact, you are thinking in a rationale and logical way. The problem is though, within the world of trading and investing the logical way to think is oftentimes the worst way to think. What do I mean? Let me explain not “in theory” but rather using a real life event that just happened serving as an excellent case study.

All drama aside, what I talk about in this episode is a “must understand” concept for all of us as traders and investors. As you’ll hear about, I came across someone within my YouTube comment section that did not understand this concept and it had them in a very risky personal finance situation. I’ve heard many horror stories over the years due to a lack of understanding, and my goal is to ensure you don’t put yourself in harms way. The good news is, it’s not a totally complicated idea to understand; however, I can totally relate to people getting disoriented by it. Especially if you are a beginner trader or investor, invest a few moments of your time with this episode to ensure you don’t throw yourself into a financial pit!

Scams are a very real thing. I’ve lost count of the number of people who have reached out to me about an “issue” to, unfortunately, realize they’d been scammed. I want to teach you one very simple fact that is all you need to know to avoid being scammed in the world of trading and investing. Is it a basic principle? Yes. Is it one that people need to be told? Based on my personal interactions, yes! This episode will be very quick and to the point. Let’s get to it and ensure you do not fall for any kind of trading or investing scams that are very common place!

As we start a new year, I want to walk you through what I would argue should be the number one goal for all of us as traders. This is a goal that anyone can accomplish. There is truly no excuse on why you can’t put this goal in motion and immediately start to reap the benefits of it. It’s a new year so let’s focus on goals that will have practical affects on our trading outcomes! Let’s go!

A whole lot of whether or not you will find success as a trader depends on your attitudes and perspective before you begin. If you approach the world of trading from the wrong angle, you are not guaranteed to fail; however, you are putting yourself at a distinct disadvantage. We all value our time and in order to maximize your time efficiency as a trader, you want to enter a situation with the realistic mindset. I had an interaction with someone recently and it really made it glaringly obvious that their mind was in the wrong place. Again, I don’t want to overexaggerate and be dramatic. Minds in the wrong place don’t mean you will for sure fail, but minds in the wrong place need to be corrected… so here we are! Let’s make sure you are not in this place within your trading which sets you up for false expectations and causes you to look in the wrong places.

The true skill set of a trader has nothing to do with reading technical charts or understanding balance sheets and cash flow statements. The true skill revolves around understanding your emotions and knowing how to control them. There are a variety of emotions that need to be considered within the world of trading and investing but one of the key emotions is fear. Fear is tricky because not all fear is bad. What do I mean? I want to quickly walk you through two types of fear which must be understood and harnessed. These may not be the most exciting topics do dive into; but, they’re some of the most important and this is why most fail. The normal person chases after the exciting topics and ignores the boring ones. This is a huge mistake! Let’s talk some fear.

The market has a very sick sense of humor. If you’ve been around long enough, you know exactly what I mean by this! For the unsuspecting victims, they are treated as little puppets until the market decides to crush them. I know I’ve been there! The market has played me like a fiddle on more than one occasion. The difficult part with all of this is to most traders, they have no idea until it’s too late. That’s why this episode is so important! When you can become more self aware, you begin to put yourself in way better positions and are better prepared to recognize the market’s mind games. I interacted with someone recently who demonstrates exactly what i mean. I can understand why the person thinks what they do, but this is the type of trader you don’t’ want to be! Let’s talk about it!

I want to talk about a topic that applies to all of us in one way or another. I recently had a conversation who made the argument that everyone should be paid a livable wage. I know this is not some new thought or a talking point which has not been discussed in the headlines before; however, I did want to bring another view to it that I believe many are missing in their analysis. If you ever come across someone who wants a living wage to be paid (or perhaps you already feel this way), I want to offer up a few other angles to consider. I respect everyone’s point of view and can appreciate where everyone is coming from, but if a topic is going to be addressed in the most efficient way possible, we need to ensure we’re approaching it as accurately as possible. Let’s get to it!

Yes, life is tough. It’s correct, the world is not fair. Some people start off with more of a head start than others. You can’t refute these things, they’re fact. With all that being said, there is a powerful question you can ask and it’ll get you pointed in the right direction. At the end of the day, that’s what it’s all about. Finding the direction you should be headed in and then going with it. What is this question and what makes it so powerful? Let’s discuss it. I don’t want to overcomplicate anything but hopefully get you thinking in a way that’ll drive maximum efficiency.

If you overlook this particular dynamic in trading and investing, you’re going to experience failure. There’s a couple of reasons for this and neither of them in the big picture is going to work out well. With that being said, this is where the irony of the problem arises because it develops from a “big picture” horizon of time. This is also where additional irony comes into play because as traders and investors we need to be patient and allow consistency to add up over larger horizons of time. This all sounds fine and dandy (and it is in theory), but in reality, these things will work against you and cause pain. Let’s make sure you are well aware of this thought process so you are not caught off guard.

I recently released a video with what I thought was a good argument for the logic some people choose to use in their learning journey. I was confronted with two rather lengthy comments (from the same person) objecting to my claims. I wanted to address these as I believe it makes an interesting conversation and, hopefully, can open the eyes of people who ascribe to the line of reasoning displayed on this individuals’ part. I also believe that many of the problems in life can be solved by learning how to converse with one another and not throw logical fallacies into one another’s face. We have a bit of that here so I’d like to try and point them out so we can all learn together on how to conduct the most efficient conversations possible. There are some doubters out there, so let’s address their objections and try to clarify everyone’s perspective.

It’s nothing that has not been said here before, but trading is very difficult. One of the biggest reasons is because of all the gray territory that exists within the world of learning and improving. Much of it has to do with the way the mind works and how we process and store the information. There is a concept in psychology known as dogmatism which, when left unchecked, can truly set you up for failure and headaches. If you’re anything like me, you’ve heard this term before but never really know much of what it means. Upon studying it more though, it creates a threat that we all need to be aware of. Not only when it comes to the world of trading, but to the general way of life. The problem is, there is also a fine line within trading when it comes to this as you don’t want to pull yourself in too many directions. Let’s talk about this more and make sure we are on guard and aware of these potential pitfalls.

I’ve started to get more aggressive in my current trading with SPX options and it’s happened…I’ve been told I’m a dead man walking! I’m told it’s only a matter of time before the market owns me! Here’s the thing though, this person was right and I “got owned” in a single losing trade that erased, literally, nine days worth of gains! Yet, I’m still nicely green on the month! Huh??? This opens up a great discussion on how trading strategies can work and how you can wisely go about developing a strategy to suit your needs. I’m not the greatest trader on the planet; however, I have been trading for almost two decades so I’m done enough dumb things that I now know to avoid. Let me walk you through this accusation of being a dead man walking and how it’s accurate to an extent, but overall, not really.

The goal for us all is the same: gains. The problems for the vast majority of people can be traced back to the time component of these gains. When you are told “slow and steady”, many people scream back, “No! Get rich… now!”. I understand the allure of this. We want to have freedom and do fun things right away. Factor in being ambitious and the picture becomes that much more gray.; My guest, Morris, is a great guy who has done very well for himself in New York City. He’s grown in his career to become the Chief Financial Officer of a company and is striving to leave a legacy for his family. Morris has dipped his toes in a whole variety of strategies from investing to day trading to swing trading. He’s experienced the ups and downs the market offers and has come away with many valid learning lessons… all of which he shares with you! Let’s get to it!

Do emotions affect your trading results at all? Assuming you are a human being and honest with yourself, your answer is “yes!”. For veteran traders in the market, you know this to be true and there are a variety of ways you can tackle this problem. For some people, removing themselves from their trading completely has fantastic results. In this episode, I welcome back long time member Joe (”JoeK” chatroom alias). He has experience in both the world of day trading and, now, swing trading. Due to his job and career ambitions (which is always awesome!), he needed to adjust his trading style. How did he make this transition from day trading into swing trading? How does he find his trades and manage them? We get into that and a whole lot more. If you are someone with a job that keeps you busy but you still want to keep trading alive and well within your wealth building plans, Joe is someone who can offer you some wisdom for sure. Let’s get to it!

I recently stumbled across an article which talked about a special three word phrase. This phrase comes from a public speaking expert from Stanford. I’m well aware that just because an “expert” from a highly regarded institute such as Stanford does not make it true; however, when I think about it and apply to trading, I believe it is 100% accurate! What makes this phrase so special? I would argue the phrase is not only special, but magical for we as traders. I’ve been working with beginner traders and those who are struggling for over a decade now. While this does not make me an expert, it has given me many data points to compare this Stanford expert’s claims against. This is a very simple phrase yet it can truly rewire your brain in beneficial ways to trading. Let’s talk about it and, as always, you are more than welcome to disagree!

Driving to your local brokerage in order to set up an account and place an order. This order to purchase a stock cost you $80 in commissions. How crazy would that be? It sounds like something form a horror movie, doesn’t it? My guest this episode, Darrel, started out in this kind of environment. It makes my head hurt just how barbaric the markets uses to be and just how much I take for granted on a daily basis. Darrel’s journey started in the 1990’s and when you have that kind of experience, you’ll have plenty of stories to share along the way. Darrel did not hesitate to shares the downs (the “ups” are easy to share) and there are some great learning lessons within them. As always, for those of you willing to listen and genuinely consider the points he makes, I can say with full confidence there is great value in them. There are some areas where I lose credibility (as you’ll see); however, this is someone else preaching the same thing I do. Let’s get to it!

As has become my policy, if you are someone who is constantly looking for excuses on why you can’t do something or your main arguments revolve around “the system” being rigged against you, avoid this episode! Community member, Jean, moved to the USA from the Dominican Republic and has been in beast mode. He is a perfect example of they type of person I seek to surround myself with. The way he approaches the world and life is that of pure inspiration and motivation. While we certainly do talk trading, we also talk about several other topics that, indirectly, still do relate to trading. The main topics revolving around the idea that you need capital to trade, so how can you get capital? What kind of attitude is required to find yourself and grow the amount of money you have top trade with? Jean will make you feel guilty (as he did me) in regards to how much you and I take for granted being in the USA. Let’s go!

Imagine being entrusted with a piece of equipment that costs 10’s of millions of dollars to design and construct. You don’t entrust these sorts of things to just “any random person”. You would need to ensure this is an above board person who approaches life in a structured way. My guest this episode, Scott, is exactly that.. an airline piolet who has been entrusted with some very large pieces of equipment known as planes! How does someone of this caliber translate into the world of trading? What kind of mindset and approach do they have? Checklists! That’s one word that stands out to me about this discussion. If you’re going to fly a plane, you need checklists. If you’re going to put your hard earned money on the line, you need checklists! We talk about way more than just checklists, but this is an enjoyable conversation that is filled with an unique perspective that not many of us have. Let’s go!

Well… just when you think you’ve heard all the different approaches and attitudes about trading, you find something new! In this episode I talk Angele who looks through the trading lens in a very self ware way. She’s a younger woman who is very smart. How smart? She majored in physics! With that being said, just because you are smart does not mean trading is easy. Angele is well aware of this and is placing a huge amount of emphasis on her “energy”. She explains it very eloquently within our discussion and is very polite in humoring me with my, probably stupid, questions! I appreciated her viewpoint and can always respect the various ways people approach trading to “do what needs to be done” to get themselves under control to find consistency. Emotions play a massive role in trading and even more-so than the technical charts or anything else, Angele is all about focusing on emotions. Let’s get to it!

My data collecting has continued and now I’m to the point where I’m over 200 trades of what I call the Sniper Shot Strategy. At some point you need to draw the line and declare “this is enough data”, and that’s what I’m doing. I respect if you don’t think over 200 trades is “enough”, but I’d hope we can at least find a middle ground that is it no small number of trades either. While I’m not here to proclaim I have found a golden goose holy grail trading system, I do want to share with you the data I’ve collected. Unfortunately though, there was a train wreck that occurred near the end of the data collection. It was actually very disheartening and it caused me to stop looking at the data for a week (which is how I ended up with 207 trades instead of 200). Finally, I want to once again address the notion that “day trading is a coin flip and total gambling”. This is a topic I’ve covered a million times, but it’s one that can not be addressed enough because it’s a constant false narrative you see. Let’s jump into the data and see what we can learn about The Sniper Shot Strategy.

What would it be like for an investigative journalist to get into trading? We’re about to find out. My guest, Rosemary, is a retired investigative journalist and someone who has dedicated her life to the craft of finding the truth and researching a topic from all angles. She now finds herself in a the foreign world of day trading where, if you’re not careful, being eaten by “being overwhelmed” is a very real thing! She is definitely one of the more intelligent people I’ve conversed with, and it was a true pleasure! I loved her humility and ability to set aside her proudness and ego and simply discuss her journey: both the good and bad. I will say, although not perfect (but no one is), she made some very wise choices along the way which saved her from some potential massive headaches. Rosemary and I go down several rabbit holes that keep the conversation diverse and exciting. Let’s get to it and hear about our investigative journalist’s journey!

Have you been there before? Maybe you are in the spot right this very moment? “I can learn how to trade all on my own, why pay when it’s all on the internet and in books?”. It’s a fair objection and a more than reasonable thought process on your part. In fact, I would go as far as to say you would be somewhat irrational to think any other way. I mean let’s be fair, the internet is filled with information and a whole lot of free stuff! How does this translate into the real world of trading though? This will be an underlying theme through the course of this discussion. I’m obviously biased given I do sell trading education; however, I do my best to remain totally neutral and let our guest, Cory (”ckrager” chatroom alias) speak for himself. Like all of us who are honest, Cory has done several foolish things in his journey and he is totally open and transparent about it. I always enjoy the stories of stupidity as it makes me feel a whole lot better about myself to know I”m not alone! These are oftentimes the best learning lessons too. Let’s learn about what Cory has learned from his trading journey so far!

If you’re looking for an episode where the guest has done a whole lot of, wrong, things, look no further! These are the discussions which I believe help the most people. Don’t get me wrong, hearing from someone who is super successful certainly brings with it motivation and inspiration to keep on fighting; however, that can also be hard to relate to. We’ve all done dumb things in our trading and have ongoing struggles. When you hear about someone else’s dumb decisions and struggles, it reassures us that we’re not alone. That’s what we have with fellow community member, Brian (”BrianSchmelzle” in chatroom). Thanks to Brian being so transparent and honest, we have an invaluable lesson how just how important being patient is. When you are not patient, it’s a domino that gets pushed over which causes everything else to spin out of control. Brian gives one of the most confusing answers I’ve ever heard, but in doing so it totally makes sense as it proves the point of the power of patience. Let’s get into it!

It’s never too soon to start crushing it in life! In our culture today, there seems to be a narrative that younger people are at a massive disadvantage and have no hope. While I fully agree and understand that it’s tough being young (we were all once at that point), to go along with the general narrative is false. My guest, Jackson, is one of several data points I’ve collected over the years disproving this narrative. Jackson is working hard and making some great decisions that will be giving him an edge within the long run. Jackson first got into stocks back in high school; however, his focus and devotion has really kicked up a notch now that he’s out of high school. He’s been finding some solid success in the future’s market, but, as he admits, he’s taking it slow as he understands the dangers of getting overconfident. For you younger people who listen, know this: Jackson is the type of person you want to make friends with. You’re often the result of who you choose to hang around with, and Jackson is the type of person who will make you better! Let’s get into it and learn more about Jackson!

After 16 years, I’m making a change! Is it some kind of earth shattering change? To me it is, haha, but to you it might be a bit anti-climatic. With that being said, I still think there is a lesson to be learned no matter where you are currently residing in your trading journey. I’ve been a trader for almost 20 years now and I’m constantly learning new things about myself, with this episode pointing out a new thing I’ve learned. I’m a firm believer in being a coachable person and I can admit I’m not always perfect at it. I sometimes get stuck in my ways and don’t care to acknowledge the realities staring me right in the face. On the very practical side of trading, this episode could be a pretty ground breaking piece of information, particularly from the “cost of running your trading business” side of things. Let’s dig into this big change I’m making, why I’m making it, and how it just simply makes sense.

I welcome back a great friend of the show and community, Michelle. This is her third appearance, including episode 400 which has been one of our most popular. In this discussion we go down some fun rabbit holes that turn out to be very fruitful. One of those holes in regards to “being calm” and the importance of doing whatever needs to be done to “find the calm” is something ALL traders better be aware of, and doing. We then spend a good amount of time talking about prop trading firms. I will be the first to admit I am quite skeptical of them; however, over the past few months have lowered my guard. Why? Because people like Michelle (who I trust) and others have been digging deeper into them and in some senses, serving as lab rats. As of now, they’re all still alive so I wanted to learn amore about this and hopefully learn alongside all of you as listeners. As always with Michelle, you’re in for a treat, so buckle up and let’s go!

For those of you long time listeners, “HeyFordy” should sound familiar to you! He’s been around the community for several years now with this being his fourth podcast appearance. I’ll be upfront. Has anything really changed for “Fordy” since we last spoke around 18 months ago? It has not. He’s still doing the same types of trading with the same approach. With that being said, is there value in listening to someone who has “found what works” and just continues to grind with it? Yes, absolutely! “Fordy” has taken many lumps along the way and done many dumb things (as we all have!) and he continues to remind himself and us why certain behaviors and attitudes towards trading are must haves. On the career front, he’s also beast-moding things as he climbs up the hospitality business ladder. He’s a shining example of how “starting somewhere” is required in order to get to where you want to go. He started at the bottom and has worked his way upwards in very impressive fashion. We talk about that and much more! Let’s get to it!

It’s time to welcome back our good friend Brandon. Within our trading community he’s much better known as “BRosi”. What I’ve always appreciated about Brandon is his willingness to share his trading results, both good and bad. Even more-so, his ability to take constructive criticism is motivational. There have been a few times in the past where I came down hard on him (out of love) and instead of getting offended and calling me “mean”, he thanked me and appreciated the input. I would hope we can all agree that the world needs a bit more of this kind of thick skin. As you can tell from the title of this episode, Brandon has been doing well and has incorporated quite a bit of new strategies. He is a physical therapist and is currently looking to expand his empire, so he’s a shining example of how you can still “be a day trader” while working a full time job. He’s after multiple streams of income and he’s excelling. He’s the type of person I enjoy surrounding myself with. Iron sharpens iron! Let’s go!

My good friend is back. The one, the only… Nate Wilson! He’s been around since basically the start of the site and has become a close friend. How close? Nate’s Dad and I are king of the cornhole circuit! Nate always tells me what I need to hear, not what I want to (a sign of a good friend). Relatively recently he was telling me about SPX options and how they might be worth learning about. I took his advice and heeded what he had to say. So far things have been going fantastic as I learn more in-depth about their personality and how they behave as an asset class. Some our this conversation may be on the advanced side; however, even if you don’t understand every detail, you’ll get to witness two traders simply having a conversation. If you’ve ever found yourself struggling because something has changed in regards to your strategy, you’ll find a whole lot of common ground with us. We both endured some annoying changes and SPX options are providing that new opportunity we’ve bene looking for. Let’s get to it!

I’m currently in the middle of a bit of a transition within my trading. As always, through my YouTube channel playlist of “live trades”, people have taken notice. Members of our chatroom community know I’ve been in the middle of this transition; however, others are now noticing. With this has come some very interesting YouTube comments that lead us into what I believe to be an important learning lesson. I’ve been trading for almost two decades and have done many stupid things. In fact, I’ve done enough stupid things to have crystal clear clarity on “the things” to do that are wise. I’m doing this exact thing right now and I’m getting a bit of grief for doing it. Let’s talk about all of this and offer up a very important reminder to us all as traders.

Let me be clear. If you are defining “baller” as having a fleet of private jets and mansions around the world, then you’ll be disappointed. If you are open to the idea of a “baller” as someone who is constantly looking to make “the system” work for him and denying excuses whenever he can, you’re really going to enjoy this episode! I welcome fellow member Andy (”FI Andy” is the chatroom) to the show for the first time and he demonstrates what being a baller is all about. Andy is from Barbados and comes from a nation that is, relatively speaking, quite poor to the USA. How did Andy maneuver growing up in a country such as this? What decisions did he make that brought him into the fold of the trading world? We cover that and a whole lot more. Any is beast-moding life and I absolutely love it!

The Viking is back! For those of you long time members, the name “Norse” should strike a chord in your memory. It’s been several years since I’ve spoken with Norse, but he emailed me out of the blue and offered to come update us on his journey. I (obviously) accepted his gesture and scheduled a conversation. Norse is someone who specializes in the world of Forex trading and has gotten significantly involved with using trading bots. I’ll be the first to admit that when I hear “trading bots” my mind automatically thinks “scam alert!!!”. If I’ve learned one thing in the almost 10 years I’ve been doing this podcast it is to not assume you know it all when talking with someone. Norse filled me in on the world of trading bots and how he’s making them work for him to grow his account. Is it perfect? Of course not. Nothing is! Was I maybe oversimplying it a bit in calling them all scams? Yup! This was a fantastic conversation and I know you’ll find value in it. Let’s go!

Warning! As I always do, if you are someone who loves to seek out excuses and use them whenever possible, you will not enjoy this episode! One of my favorite parts about this episode is my guest, Anthony (”Busta” in the chatroom) just turned 18! If you are a younger person, then you without question need to be listening to this episode. With that being said, even if you are older, there’s still plenty of lessons to be learned and reminded of. Anthony is one of those people who sets his mind to something and then refuses to let anything stand in his way. The proof is in the pudding. He’s already landed himself a very sought after internship at a hedge fund that 1,000’s of people applied for. Although his journey is young and only just beginning, he’s still got an amazing amount to share with us all. It goes to prove that those people that simply “do something” will already begin to reap the fruits of their journey, even if some of it is from bad decisions which can be learned from. Let’s get to it!

I love talking with the variety of traders I do. Some are brand new to the point they’ve never even traded with real money. Others are in valleys of desperation and frustration. Then we have those like this episode’s guest, Dale, who are doing fantastic. Of course it was not always fantastic for Dale, but he’s persevered through a whole lot and continues to only get better (and he’s already real good). Dale has some fantastic observations, especially about the threats of FOMO (fear of missing out). He’s done some really stupid things since he began (I say that as a compliment for being willing to publicly talk about it), but these are things you can learn from. How? Simply do the opposite of what he shares. I really enjoyed this conversation and I’m sure you will too! Let’s get to it!

I assume you are well aware that if you want to be a successful trader over an extended period of time, you need rules! Perhaps a more broad way of saying this is you need a valid strategy. This of course prompts the idea of “well, what makes up a strategy? How do you build one?” - the answer being, with rules! With all of that being said, are some rules more important than others? Or, are all trading rules created equally? In my opinion, not all rules are created equal and some are way more important than others. In this episode I want to spend a brief few moments talking about what I believe is a “must have” rule for all traders. I’m even willing to potentially go as far as claiming this rule is the most important one! What is this rule and what makes it so effective and powerful? Let’s discuss!

I’ve always been impressed by this episode’s guest. Joey (same alias in the chatroom community) has been a long time member and, from day one, has been very transparent about his journey. In fact, when I was getting more into options a couple years go, I had him come on a Tuesday night live webinar (for premium members) so I could ASK HIM questions. As the saying goes, “iron sharpens iron” and I consider Joey to be a solid piece of iron. Joey was kind enough to come back and update everyone on where he is in life and with his trading. He’s been an absolute master in leveraging his trading experience into some very worthwhile “real world” outcomes, including his current job which would make anyone who loves trading jealous! With that being said, his mastering of real world outcomes is something that I believe anyone can do, and we talk about just that! If you’re looking for pieces of iron to sharpen yourself against, look no further than Joey! Let’s go!

There are many challenges that come with being a trader. We are all facing different challenges at different levels. What do I mean by “different levels”? The worst level a trader can be at is struggling with their results and having no idea what is causing the issues. We’ve all been there! It’s truly a terrible and demoralizing level to experience. You know their is a problem, but you just know what what “it” is. My guest this episode, Trey (same name in chatroom for you community members), finds himself in annoying, but good spot. It’s annoying because he is really struggling with a certain part of his trading. How can this be a “good spot”? Because Trey knows what the spot is! He just needs to do what he knows he needs to do! Trey is not alone though. His struggle is one I can relate to and a struggle many other traders can too. Let’s talk with Trey and see what we can figure out and try and offer some helpful feedback!

The toilet man is back! For you long time members of the community and listeners of the podcast, you should remember Jeremy. If you are a member of the community and chatroom, his alias is “RemmyTheRookie”. He’s been on the podcast multiple times over the years. He was one of our first guests back in 2014 and is still alive in the markets with plenty of bruises. I say that as a compliment though. All traders have bruises, it’s part of the business. The key to, long term, success is avoiding those kill shots that knock you completely out of the game. It had been a couple years since Jeremy and I last spoke, so as usual, he was more than willing to come on and just shoot the breeze with me while we talked trading. He’s a person I have hung out now with, twice, in person and I can say with full certainty, he’s a fantastic human being. He’s always willing to help out and share his “stories of bruise obtainment” so that others can learn. Let’s get to it!

We’re all at different spots within our journey. This is why anyone advertising an “one size fits all” strategy is misleading you. Unless the person knows your exact circumstances and goals, it’s hard for them to have any idea what is best for you. In this episode’s situation, it is someone who wants to retire, but stay active in their retirement via trading. Community member Paul was kind enough to share with us his journey and reveal what has worked, and not worked, along the way. As a minor spoiler alert, Paul is in a fantastic place within his journey where he’s making money and his account is growing. What an amazing feeling! Knowing you are getting close to retirement while also knowing you have a skill that’ll allow you to still be making money! I put Paul to the test to see if I could poke any holes in his approach or strategy. Iron sharpens iron so let’s get to it!

It’s time for a trading challenge! I’m going to call it The Degenerate Gambler Trading Challenge #DGTC! In this video I want to explain why I’m doing the trading challenge and how it will work. I realize the title is a bit eye catching given what I preach on the channel; however, please watch the video so I can add in more context. This will be a challenge where I “think like a degenerate gambler but within a controlled and rules based way”. I recently had a premium member share their struggles in our chatroom and it sparked an idea for this challenge. I hope you prove to everyone that when you have the right mindset going into trading, behaving how you should (in regards to your trading strategy rules) will become way easier to do. This challenge is not about seeing how dumb I can get in regards to taking gambles, it’s all about following rules and proving it can be done. If you have any amount of trading experience, then I’m sure you know just how hard it can be to follow your strategy rules. You could have all the knowledge in the world, but if you don’t know how to think about your money, your knowledge will ultimately prove to be worthless. It’s time to be a degenerate and have some, controlled. fun!

We all have bad habits. Whether it is biting our nails or some other, “disgusting”, habit, we’re humans… we have them. In other words, if there was something that we all as humans could find common ground upon, it would be bad habits. Unfortunately, the world of trading does not insulate us from our human tendencies with habits. In this episode, fellow community Dave is an absolute open book about his journey. He warned me upfront his journey was “filled with stupid”, and to his credit, he didn’t disappoint! I don’t say that in judgement, I say it in admiration and respect for him being willing to share. We’ve all been there and are still there in many ways.. where? Constantly fighting the desire to allow bad habits to take over in our trading. Perhaps you are a beginner and think I’m exaggerating when it comes to habits, I understand. Give this journey a listen and you’ll see just how hard bad habits are to kick!

While I admit that every episode certainly has some common themes, which in and of itself is valuable (if you keep hearing the same things, maybe it’s something YOU should be aware of!), every episode also has its own flavors. At times I speak with people who are completely brand new and have never traded with any real money. In other situations, I’m talking with people tossing around large chunks of money. In other cases, we’re right in the middle. This is what brings us to this episode’s guest, Micah. I enjoy these episodes because it’s always fun to do a little in person coaching and talk through various aspects of a person’s goals and strategy. Micah is doing well, but at the same time, there is some fine tuning requirements that revealed themselves. Yes, if you’re brand new, we do get into the weeds quite a bit with what may seem like trivial matters, but please trust us that when it comes to building consistency, the small (and seemingly trivial) dynamics matter! Let’s do some fine tuning with Micah!

A simple, but extremely annoying word within the trading realm: rules. You absolutely need to have them if you want to survive in the markets. At the same time though, following the rules can create all sorts of headaches and frustrations. Here’s the thing though, as I talk about with our guest Eric, when you have rules and follow them, you’ll do less. For you longer term listeners of the show, you’ve heard this theme arise on several occasions: less is more! It’s a seemingly illogical concept, but it carries with it a whole lot of proof of being effective. Eric has been through quite a bit on his journey already. He was kind enough to volunteer to be a guest so he can share with all of us and offer up some fantastic insights into the realities of trading. I always enjoy these types of conversations where the person just shoots straight and doesn’t hold anything back. I had a great time and I’m sure you will too. Let’s go!

It’s been a long time since I’ve met up with community members in person. There was this thing called Covid that made these sorts of “meet ups” a bit challenging. With Covid now behind us, we finally were able to set up another event in Arizona. I wanted to walk you through the experience and from my point of view and hopefully give you an idea of just how awesome/normal our community is. Maybe you’re a member and thought about joining us in Arizona, but then decided against it. As a shy person myself, I can understand your thought process. I hope to offer you some encouragement of what can be expected and hopefully convince you to come hang out at the next one. Perhaps you are not a member of the community, but thinking about officially joining. I hope to demonstrate just how normal of a group it is. No egos. No Hollywood stereotypes of what traders are like. Come with me on my journey to Arizona and the great time it was!

Don’t have the time to trade? Sorry. I’m not buying it! The amazing fact of the financial markets is if you have a great enough desire to trade, you can find a way! My guest, Vinny, is a prime example of this fact. He is the owner of a small family business, yet, has still found the time to learn to trade. Not only has he learned to trade while running a pizza joint, he has now begun to find some solid success. Vinny is all about multiple streams of income and trading has opened up another one of those streams. With all this being said, Vinny got started with no actual plans or strategies. Sure, things are going very well for him at the present time, but wow… he was in total moron mode when he started (like we all are!). Vinny is totally open and honest about his journey and holds nothing back when it comes to sharing his mistakes and regrets. In other words, if you want to give yourself a head start in your own personal journey, just do the exact opposite of several of the choices Vinny made when starting. Let’s get to it!

This episode takes a bit different shape than normal. Our guest, Jason, has been on the show before and he’s back to update us on his journey. As a minor spoiler alert, Jason’s journey so far has still been pretty rough. He’s not back telling us how he is now making millions of dollars or anything of the sort. Because of this, I would call this episode more of a “coaching call” than anything else. This does not mean the episode is of any less value than others, it just has a different “vibe” to it. I think it’s a great thing when you can mix it up a bit, and that’s what we have here. I have a very confident guess that many listeners will be able to relate to the problems Jason has had. His journey and ongoing problems are nothing new and are very normal. Our discussion (I hope) should shed some light on some of the very same issues you may be having. If anything, it will offer up a warning of what you need to be aware of and avoid as you continue on your own journey. Let’s get to it!

The journey of any successful trader in regards to their rules is pretty universal. The first stage being imagined rules, the next being loose rules and then finally, tight rules. As you veteran traders know, you can’t have a viable and consistently profitable strategy if you don’t have rules in place. When you have loose rules, well… that’s where our guest from the community, Taf, comes into play. Thanks to his candor and willingness to be open about his journey, you’ll hear a great description and account of what loose rules can lead to. Taf is a humble and self aware person (both key attributes) so he eventually was able to look in the mirror and realize the problem. What sort of decisions did he make? How is he now implementing his new rules and ensuring they stay tight? We’ll get into that and way more in this episode! Let’s get to it!

In my opinion, one of the most productive aspects of doing this podcast is the opportunity to gain insights into certain perspectives. When doing so, I certainly benefit and hopefully… you do too! My guest, Rick, has a mind for numbers and systematic thinking given he teaches math. I realize many people have a love/hate relationship with the subject of math, but I would hope we can all agree, it takes a certain type of “mind” to excel within the subject. This is why I was excited to be able to probe Rick’s mind and gain insight into his thoughts and rationale behind certain decisions he has made and is currently making within his trading journey. Rick has been very solid at “cutting loses” and he gave me a very simple, yet powerful, explanation of what makes it so black and white. His response reminded me that despite being a trader for going on 20 years now and talking to 100’s of people via this podcast, you can always gain a new perspective. Even if you are someone who despise the subject of math, I’m confident you’ll still gain plenty of value from what Rick was willing to share! Let’s go!

Signal software, have you seen it? There’s a variety of software and programs being sold that promise to show you da money! A simple search can yield an overwhelming abundance of results. But, what’s the truth behind these signal software? Does it work? This is where we my guest, John (chatroom alias “JohnSwift”), brings great value to the discussion. He self admittedly has been using a signal software for the past several years, so he certainly has some worthwhile perspectives to consider (and spoiler, what I agree with). He’s someone with a whole lot of life experience, so he’s seen the evolution of trading and technology from a super interesting point of view. I dig into John’s strategies and cover the various aspects of psychology that come along with using a signal software as part of a strategy. I enjoyed the conversation very much and I’m confident you will too. Even if you have zero interest in ever using a signal software, there’s still plenty of discussions that will offer value to you! Let’s get to it!

I know I’ve covered this topic before, but as long as the media pushes such narratives driven by insanely biased “studies”, I will be here to explain reality. This is not a matter of whether or not I believe you understand how things work, but rather, I want to share with you a simple explanation process to share with those you come across who believe these lies. According to a new Oxfam study, lots of the money being made is “unearned” and it should be taxed at higher rates because of this. Have you ever heard this argument from someone? “Those people aren’t even doing anything and yet they’re making more money! AND, it’s taxed less???” That’s theft! That’s why the system needs to be ripped down! I wish I could say I was throwing up a strawman argument, but as you’ll see as I read from the study, this is the exact argument being made. Let’s take a stop back (along with a deep breath) and walk through why this line of reasoning is such a lie and therefore, easily, explained/debunked.

Data. A very boring word no doubt. When I hear the word “data” I think of geeky scientists in their white lab coats typing away on their calculators. For me, as someone who is by no means a genius, the word carries with it a bit of intimidation because I’m not smart enough to be some geeky scientist in a white lab coat! Whether you are a beginner trader or someone who has experience but is still fine tuning your journey, if you are not using data, you should be! We welcome back community member Matt (chatroom alias, “brigbills”) who updates us on his journey and how things have been going. If you have not connected the dots already, data has and continues to play a huge role in Matt’s current journey. While I don’t want to sound overly dramatic about it, the data has been a total game changer for him and opened his eyes in ways he would never have imagined. I love Matt’s passion for the world of trading and the seriousness in which he is treating everything. If you aren’t inspired to do a deep dive into your trading data after this episode, I’m not sure if there is anything that will convince you. Let’s go!

If you enjoy a good mystery, you’ll love this episode. I say this with all seriousness, but if you can figure out the “why” behind the actions from our guest, we’d love to hear from you! In this episode, we welcome back Nick (”SecondChance” chatroom alias) and catch up on what has been going on in his personal journey. We spend quite a bit of time focusing on “Nick moments” and I find myself stumped. The good news is, there is a pretty clear solution to his problem (which I hope he tries, but he never committed to it). As far as the “why is he doing it, randomly?”, I don’t know! So, I’ll repeat myself, if you do have any idea of what is going on and why he’s doing it, tell us! Having a conversation with Nick (like the first time) was a fun and packed with several quality talking points. Put on your detective hat and get ready for some critical thinking and mystery solving thinking!

Ready for a wild ride? This has gotta be the first time that acid and shrooms lead someone into the world of trading. No, that’s not a joke! My guest, Robert, held nothing back in sharing his story with us. It was shocking at times, but it was raw and honest! I don’t want to say much here as I’d hate to ruin anything. All I can and will say is, if you like wild rides and dramatic stories, you’ll have all of that here. Robert is an inspiring guy and someone who has certainly been through a whole lot. Let’s get to it!

I’ve had an encounter with the mafia! Well, not really but I think my guest this episode is about as close as I’ll get given his, amazing, accent. Believe it or not, the previous statement actually pertains to an underlying theme of my discussion with fellow community member Frank. The mafia does not care your reasoning for anything if you are not behaving as you should within their system of business. The same is true for the markets. The markets do not care about anything. If you are not behaving in a way that is logical and disciplined, they will make you pay the price in a big way. Frank’s journey has been filled with many learnable moments, but at the core, the one fact he has learned is while the markets don’t care about your sex, skin color or anything else, they also don’t care if you have a wife and family or a cute little dog. The markets are indifferent and will destroy you all the same. I loved Frank and his attitude (did I mention his accent?) and how he continues to go about this crazy journey we call trading. Let’s get to it!

First off, Happy New Year! I wish you nothing but the best for this upcoming new year! I have mixed feelings on New Year resolutions. I’m not opposed to them, but at the same time, they do seem a bit overdramatized. In this solo episode, I want to throw something your way for you to consider this new year. I want you to understand that time machines do exist! In fact, they are all around you when you know what to look for and how to utilize them. While I can’t say this topic is an earth shattering one, in some ways it is because the strategy hides in plain sight. Some of the most powerful approaches to trading, business and life can be unlocked by using this time machine strategy. Whether you are trading, investing or just trying to beast mode life, I’m all for sharing what has helped me. If it can provide any sort of assistance to you and your goals, then I’ll consider this episode a massive success! Let’s get to it! 

Progress. Regardless of what you are trying to accomplish in life, that’s the core goal. It is no different within the world of trading and investing. We all start out in the same exact spot: brand new and knowing nothing. From that point it’s all about making progress. This brings up the interesting and important philosophical question though: what is, “actual”, progress? No matter what you do, you’ll be making progress; however, it could be progress in the wrong direction as you build up bad habits without even realizing you are. If could be progress towards a cliff edge because you are too new to even know it’s a cliff. This is why I enjoyed our guest from the community, Sheng, so much. He’s a great example of not only what progress looks like, but “good” progress. He was kind enough to share his journey so far and talk about the ups and downs. He’s still got plenty of work to do, but from where he started to where he is now, he’s made solid progress and will continue to do so! Let’s take a look at what progress is and how you can do the same!

Let me state the obvious. Everyone in the markets has one fact in common: we all started out as new traders. I will make another assumption about us all as traders and people: we value our time. When you combine these two facts, it would make sense to find value in time efficient learning strategies. My guest from our community, Jamie, is focused on doing exactly that. Jamie is going about his trading journey in a very methodical way. Like us all, there have been a few bumps and bruises along the way; however, he has realized the importance of focusing on learning in a manner that promotes efficiency. Jamie is very open about what he has done so far. Both those things that can been painful and those that are helping him achieve his goals. I enjoyed our conversation as he is someone we can all relate to. Our conversation takes us to several topics that I’m confident we’ll all be able to find common ground on. Let’s get to it and hear about Jamie’s story!

There’s no way around it. As traders and investors, “fine tuning” must take place in order to truly build a valid strategy. I’ll be the first to admit that fine tuning can be really annoying. Sometimes just showing up and applying broad strokes is so much better due to the, deceivingly, time efficiency. This is why not fine tuning is so dangerous. The extra time is where the details are revealed and worked out. My guest, Jeremy is a great example of this. Been been in the weeds fine tuning his strategy, particularly, in regards to “letting it breath”. Is this an area you are struggling with? Maybe you aren’t even aware it is an area to fine tune? When you’re new and don’t know what you don’t know, this can happen (it’s normal!). Jeremy was great to talk with and was completely open about his journey. He shares some great stories that can help us all build and/or safe guard ourselves within our own journeys. Let’s get to it and hear about Jeremy and his journey so far!

All of this was pretty unintended. I routinely have people asking me about my thoughts on cryptocurrency, so I chose to do a quick social media post explaining my personal long term investment and wealth building/preserving strategy. For me, I feel most comfortable and at ease with assets that have, real, value. This opened up a can of worms as the crypto diehards showed up and droves to try and refute a very simplistic argument on my end. The fact that something so basic was so stubbornly defended forced me to do some reflections. After about four seconds it dawned on me that these people had no other choice. These people needed to do what they were doing out of pure necessity. The very nature of cryptocurrency, by default, creates cults. I wanted to expand on these so you better understand how to reason with the unreasonable. More so, I hope to help you understand (and therefore save time) in regards to realizing there is nothing you can really do to change a crypto cult member’s mind. Let’s hit on a few points that will clarify the topic and help you guard your time.

Have you been there? Something happens within your trading and it is as if someone else takes over your body in pure anger and rage? To the person who has never traded with real money, it’s easy to sit back and proclaim, “I would never let myself lose control in such a way!”. To the person who has experience trading with real money, it’s a feeling that we’ve all encountered. In this episode, I welcome back fellow member Kelly (”Kellynm” in the chatroom). He’s a great guy who is easy to talk to and is very open about his journey. As I’m sure you can tell from the title of this episodes, “rage trading” has been an issue for him; however, he is well aware of it and working very diligently to kick it to the curb. Kelly and I go down several interesting rabbit holes, including a great discussion on “letting winners win”. If you want to hear from the perfect trader (warning: this person does not exist), this won’t be an episode for you. If you want to hear from a genuine trader who is sharing his experience so we can all benefit, then I promise you’ll enjoy yourself. Let’s get to it!

We did it! We’ve hit our 400th episodes in a row without missing a single Monday release! I say “we” because you as a loyal listener keep the motivation fire kindled to continue to find volunteer guests. The fact we’ve been able to find people to volunteer of their time for 400 weeks in a row is a testament to the quality of people in our community. For this special episode, I wanted to bring back to of these volunteers who I admire in many ways: Michell and Ashlee. They are what I would call, Lady Monsters. These are women who offer a very different insight into the world and life compared to the main stream medias narrative. While we don’t talk a whole lot about trading, what we do talk about with help you with your trading. How? If you want to be at trader, you need money (capital). If you approach life with the attitude and problem solving philosophy of these two Lady Monsters, you’re going to have more money to trade with. In some ways, you’ll have more money because you just simply don’t waste it! For you younger women out there who want to get into trading, please listen very closely as we go down a rabbit trail about weddings. Again, does it have anything to do with trading per-so? Nope. But both of their attitudes towards the topic reveals why they have found so much freedom of time and wealth within their lives (along with having extra money to use to trade with!). Let’s get to it!

Anything you do in life will have phases. This fact is no different when it comes to the world of trading. What I have learned over the years of doing this show and talking with almost 400 traders is most phases are, broadly speaking, the same. The big difference arises in regards to how these phases are approached and navigated. This episode, fellow member Eli breaks down the various stages he has gone through in his trading journey so far. He came prepared to the show with a structure and as a former engineer, I can always appreciate a good structured process! I’m confident you’ll enjoy Eli’s perspective on how he has approached the world of trading and how he has navigated the various twists and turns that we are all guaranteed to face. As usual, we drift down some interesting rabbit trails that take us into some quality critical thinking conversations. Eli is a very humble man and one whom I respect. I’m confident you will feel the same way as you walk away from the discussion with several pieces of common ground. Let’s get to it!

There are some people you just sit back and say, “can I be your friend?”. They are just so similar to your approach towards solving problems and overcoming hurdles that it would be foolish to not want to build a relationship with them. My guest, Ashlee (chatroom alias “SassyPantsAsh”), is one of those people. She has been through a whole lot in life, particularly back during the real estate disaster of 2008; however, she never once threw up her hands and said, “I can’t!”. She found a way to keep trending upwards and her journey only improved in strength. I mean, at this point in her life, one of her streams of income is to recruit astronauts to go to space. Yes, you read that right! This life experience and mentality towards problem solving has prepared her in big ways for trading. Like us all, she is not perfect and has had several headaches when it comes to the world of learning to trade, but, she’s doing extremely well and has a great perspective about it. Ashlee and I get into some great discussions about trade management and other key areas that traders struggle with. It’s a conversation that is both motivational and I would like to think, entertaining! Let’s get to it. Buckle up! Ashlee ain’t playin’!

One of the most (if not “thee” most) powerful facts about the market is how flexible it allows you to be as both a trader and investor. When you first get started in the markets, most people get laser focused on a single type of market. In this day and age new traders and investors show up locked in on either the stock or crptocurrency market. While I can fully understand how this happens, you are unintentionally shoving yourself into a corner and limiting your flexibility. Life is an ever changing thing and at times that will creep into your trading and investing strategies. My guest, Christopher, is a great real life example of how all these changing dynamics can require compromising solutions. Christopher showed up in the markets having no idea about the Forex market. As environments around him changed and his journey to finding strategies that fit into his personal risk tolerance evolved, he ended up finding a sweet spot with Forex. Even if you have zero interest in Forex, set that aside and look at the bigger picture of how we can all learn from how other traders have navigated the ever shifting waters of life and the markets. This was a really great conversation and I have little doubt you’ll come away with some solid considerations! Let’s go!

Do you hang around people that make life harder than it needs to be? Let me be very clear to set the stage: life is hard. I’m not implying that life is easy or anything of this nature. The area I want to dig a bit more into (looking at a real world situation) is how some people choose to make life way more difficult than it needs to be. How does this relate to trading and investing? The smoother your “normal” life is, the easier it becomes to learn how to trade and/or invest. What I’ve found to be the case is too many people surround themselves with people making their life harder than it needs to be and then believe the system itself is the problem. This is extremely dangerous territory to tread on. How so? If the cause of hardship is “the system”, this would mean you have no control over your life. In my opinion, this is a very scary and depressing proposition. I would submit the claim that while life is hard, you do have a significant control of just how hard it is. In other words, as you’ll hear about in this episodes, this person is choosing to create massive hurdles for themselves instead of making their life so much easier. Don’t listen to the narrative that “the system” is rigged against you. It’s not. Too often people have the system working for them and then self sabotage themselves. Let me show you what I mean…

You certainly aren’t crazy. You by no means are being irrational. Using the logic, “I’ll learn from the internet” makes perfect sense in today’s age of technology. You can jump online and before you know it, you have information, opinions, facts, tools, etc. all being thrown at you in an instant… at the same time! A glaring problem quickly arises when you are new and you don’t know what you don’t know. Part of this is, what is a fact? What is an opinion? Does this tool pertain to me and what I am needing? Can you relate to this feeling of what I like to call “overwheminess”? That’s where our guest, Alberto, found himself when beginning his journey. He already had some investing experience under his belt, but the YouTube algorithm lead him into day trading and peaked his interest. This lead him into the vast sea of internet knowledge and attempting to learn how to day trade, properly. Where did this decision lead him? What were some of the mistakes he made along the way? What were his solutions to these issues? We get into that and a whole lot more. There are many relatable parts of his story I can remember going through, and I’m sure you will too. Whether you are a beginner or a veteran, there is something for everyone!

I always enjoy talking with successful people. There is constantly something to learn in one form or another. When you just sit back and listen, you can gather little bits (or who knows, big bits?) of wisdom through their experiments and general experience. When you applies these dynamics to your own life, things only get better. In this episode, I welcome back fellow member Sean for an update on his journey and life in general. He’s primarily an investor, but he’s also a business builder so we talk a variety of topics. I would argue all traders (day or swing traders) should also have, in the background, investing strategies at work too. I’m all about diversity of income streams, so don’t forget, investing into the stock market can serve as its own form of an income stream when done right. Even if you have zero interest in investing, there’s still plenty of great conversation that can be applied not only to your personal trading strategy, but life in general. I thoroughly enjoyed this conversation and I’m very confident you will too. Let’s get to it!

I’m guessing your trading and investing journey has been a totally smooth ride up until this point? At this point you are, rightfully so, thinking I sound like the most delusional person you’ve ever come across. Anyone with even a shred of trading experience knows the ride is not anywhere close to being smooth. The big differentiating factor is how do you react to the bumpy ride? This is where our guest, John (”JerryPMan” in the chatroom) shines in regards to setting a great example. As you’ll hear, his journey was had plenty of bumps in it. In other words, he has had plenty of bumpy experiences he has needed to react to. How did he react? What was the main thought process behind his reactions? Was he using poor or rational logic for these decisions? We get into that and a whole lot more. I enjoyed speaking with John as he was a straight-shooter who didn’t try and pretend he was someone he was not. He was kind enough to share his experiences that we will all be able to relate to in one form or another. Let’s get to it!

Have you heard of it? The term is “quiet quitting” and it is a job strategy that seems to be catching more and more popularity as these current times continue. I do my best to be as objective and fair as possible, so on that note, is “quiet quitting” a smart strategy? In order to tackle this question and discussion, I bring back a long time friend of the community and podcast, Judd. I figured Judd would be the perfect person to discuss this strategy with due to the fact he has built and sold (for a very nice profit) a business. He’s also worked his way up within several corporate structures (from the bottom level), so he’s had to eat dirt before he could sit in a higher perch. With his experience at higher levels of companies (and building his own), he has also had to hire several people throughout his career. Point being, Judd is someone who I trusted has the ability to give a solid perspective to the strategy of quiet quitting. If you have no idea what quiet quitting is, no worries, I’ll be sure to define it right at the beginning. I have a suspicion that you already know what it is, you just don’t necessarily have a name for it. Perhaps you are doing it? Maybe you’re thinking of doing it? But, should you? Let’s discuss…

Have you heard? The Biden administration is proposing to forgive student loans. This has of course opened up the floodgates of opinions and debates. Given this is not only a podcast for trading, but also money/economics in general, I wanted to weigh in on this topic. My main hope with this episode is to discuss student loan forgiveness in a very fair and reasonable way. I am not here to strawman either side’s argument. In fact, I’m not going to argue one way or another. I’m just going to point out some flaws in the arguments that I’ve seen. Some of these are factual flaws, others are more so logical flaws. I would like people to be able to have fruitful and productive conversations about this topic. In order to do so, there needs to be some general acknowledgements of facts and logic. This does not mean both people are going to ultimately agree; however, it does ensure people don’t talk pass one another. Maybe I’m just a conspiracy theorist, but at times it seems the mainstream media is intentionally confusing us to cause disagreements where there is actually an agreement. I suppose confusion creates content and clicks, and given media companies are “for profit”, it makes sense they want to create confusion and drama. Let me cut through the drama and point out some of the most common arguments being made with additional content and considerations.

What would you do? You’ve just become, unexpectedly, homeless and you’re sitting there in a motel room. It sounds like a Hollywood movie script, doesn’t it? This is the exact set of circumstances my guest, Bradley (”modelact” chatroom alias), found himself at a stage in his life. If you’re ready for a an inspirational ride, then let’s go! If you are looking for someone uses who plays the victim card and pulls out a deck of excuses, this won’t be the guy for you! Bradley was extremely kind to share what many others may have wanted to keep to themselves. He was very polite about it, but yeah, his life was hit by some whirlwinds that sometimes just happen. I enjoyed his approach to life and his attitude overall. Therein lies a great learning point though. As you’ll see, even with such a fantastic attitude towards life and keeping things positive, trading still ahs the ability to push you to the limits and expose all the shortfalls. Bradley and I get into some solid discussions over trading psychology and how tricky the human mind can be. The moral of the story is this, if you enjoy a good “not gonna give up after getting punched in the mouth” type journey, you’ll love this one! Let’s go!

Who remembers Scottstrade? Us older traders will have a fond memory of them and how awesome it was they offered $7.99 commissions! My guest, Mark, has had a wide variety of experiences as he’s been around for quite some time! Don’t get me wrong, I absolutely love talking with guests who are on the younger end of the spectrum; however, when you talk with someone who is older, you can get some great stories form “the good ol’ days”. Mark has been through quite a bit and shares some big ups and downs which I’m confident we can relate to. Mark has traded pink sheet penny stocks, normal stocks, options and is now moving into futures. He’s a bit unique in the sense he tends to blend fundamental and macroeconomic ideas into his trades, but hey, we all have our different approaches to the market. Like all of us, Mark still has work to do, but the one underlying dynamic I noticed in his journey is becoming extremely good at acknowledging when he does not understand something instead of keeping himself in the dark. Most of his problems came from staying in the dark, but when he has grabbed the flashlight, things change quickly (amazing how that works, huh?). Let’s get to it!

I’ve been blind sided several times on the show throughout the years from guests sharing their stories. Just when I think I know the end results of a story, I hear something completely different. While I can’t say it takes the top spot (it may!), I can say this episode’s guest, Taylor, has one of the most blindsiding moments in the show’s history. There’s no other way to say this than, his ego was out of control! As traders we 100% need confidence. There is no way you’ll have a chance at success without being bold and confident in your decisions. You need a strategy that you can be fully confident in and deploy without hesitation. The trouble with this confidence requirement is it carries with it the oftentimes easy transition into cockiness and ego. When a trader crosses this line, the results ultimately turn out in… unfavorable… ways. Taylor was brutally honest about his ego. He held nothing back and sugar coated nothing. His experience truly represents how bizarre and crazy the human mind can be. It also prompted us to have some really interesting discussions about how society has made trading that much harder. I enjoyed the conversation and I have no doubt you will too. Let’s go!

There is nothing more refreshing than self accountability. In a culture where it seems like it is always “someone else’s fault”, it is a breath of fresh air when someone blames the person in the mirror. Trading is not easy and there are a variety of ways we can twist and turn with the blame game. My guest, Joe, does a deep dive into his journey and holds nothing back. I’ve been doing this show for several years now, and one of the excuses he used back when he was getting started may be the worst excuse I’ve ever heard. He had the courage to admit to using it as an excuse, so I have nothing but respect! I always enjoy a discussion with someone who is brutally honest about their journey and self awareness. With that being said, Joe borderlines being a bit too hard on himself! He was doing it given its part of his sense of humor; however, he did make it sound like he is way worse of a trader than he actually is. All in all, this was a fun discussion and has some great bits of knowledge in it… particularly from the “don’t do this” angle! Let’s get to it!

Are you dizzy? If you say ‘yes’, I totally understand! Every direction you turn you see headlines making a variety of claims. The problem is, these claims oftentimes are contradicting one another and seem to have no consistent basis. I sometimes wonder if this is by design? What do I mean? Does the government make the statistics it reports very broad and open ended on purpose to create confusion by allowing for a variety of opinions and theories to develop? Perhaps I am being a conspiracy theorists, but whether it’s a Republican or Democrat in office, these statistics are ridiculous when you peel back their layers to understand them better. The big talking point currently is Recession vs. Strong Economy. Some say that we have a strong economy while others say we are in a recession with a failing economy. The goal of this episode is to cut through all the headlines and apply some basic common sense that will point us in the direction of where we need to be headed. I may not have a PhD in economics, but I do have enough practical common sense with money to understand what a, truly, strong economy looks like. The good news is, none of this is complicated so there is no need for this to be some multiple hour episode. I want to keep it as brief as possible, thrown in some learning, and then apply some common sense. Let’s get to it!

The world of trading is a crazy place for several reasons. It’s amazing how much money can be made (lost) in such small amounts of time. It’s amazing how you can make (lose) these amounts of money from anywhere in the world assuming there is an internet connection. An often overlooked reason is the vast scale of strategy approaches ranging from extremely intense to extremely laid back. Our guest from the community, Robert, shares his journey and how he has ended up on the end of the scale requiring a laid back approach. Robert was not always at this point in the scale, but upon deeper reflection, this is what a trading journey essentially is, right? We are taking a journey across the strategy scale and trying to determine where our personal risk tolerance and comfort level belongs. Some people have fun going sky diving while others have fun reading a book about sky diving. Neither person is wrong, they’re both having fun; but, what it does illustrate is how we all have varying risk tolerances. Robert needed to go through several ups and downs to figure out his place on the scale, but he’s found a great groove at this point! He was kind enough to share some of his journey with us and I am confident you’ll gain great access from it. Let’s learn from Robert and his pathway to finding his “spot” on the strategy scale. 

Admitting to yourself certain weaknesses and areas that need to be improved is not always the most enjoyable activity to take part in; however, it is a required activity if you want to reach your maximum potential. In the world of trading, you must be brutally honest with yourself and admit all weaknesses. At times, you may just have to admit, “I’m simply NOT good at this…” I know we are brought up in a culture of “keep pushing and you can do it!”, which is awesome in most areas of life, but when it comes to trading, this sort of attitude can cause a whole lot of financial pain. In this episode, I welcome back Alex (”LTP” in the chatroom) and he shares with us an update on his journey. He is doing well and figuring out a whole lot. The backbone of his improvement is getting to know himself better by being honest with himself and admitting certain areas he’s no good at. By admitting this, Alex has been able to improvise and adapt to more suitable areas of the market that allow him to find comfort and success. One of the great facts about the financial markets is they are so massive. This allows for plenty of wiggle room and flexibility when it comes to finding something that works for you. But again, this will only be possible if you get to know yourself and are brutally honest with yourself. Alex is a shining example of it. Let’s go!

One of the best facts about the financial markets is they care about nothing. Age, race, height, weight, etc., the markets simply do not care. They will take money from whomever they want, and they will also give money to whomever they want. The financial markets only care about trading strategies and your ability to be disciplined. In other words, using your age as some kind of excuse is just not valid! I don’t want to hear it! Whether that be you thinking you are too young to start to get involved or think it’s “too late” in life, both of those are blatantly a false way of looking at reality. I welcome back community member Alden for his second appearance on the show. If I remember right, he’s the youngest person I’ve ever talked to on the show with his first appearance when he was 16. It’s actually quite crazy to think Alden has just now turned 18, yet, he’s still got multiple years of experience in the markets already. Alden still has lots he needs to accomplish within his trading, understandably so given he’s been finishing up high school and applying to colleges, but he’s still well ahead of where I was at his age! I do a bit of live coaching with Alden on his position sizing and risk management so if this is something you’ve struggled with, I’m confident you’ll gain value along with the numerous other rabbit holes we pursue. Old or young, you’ll gain value from Alden as a great reminder that age is a terrible excuse to not improve your current situation!

If you find yourself thinking of quitting your job and “becoming a trader” as a job to pay the bills, stop! While I understand from a marketing and sales perspective this sounds awesome, when you bring the idea into the world of reality it becomes much different. I welcome back long time member Aaron (better known as “Zep” within the community) who has been on several past episodes. I suppose it just goes to show how long the show has been around as the last time we spoke was 4-5 years ago! Zep updates us on his story and pulls back the curtain to the real life look at what happens when you place too much pressure on needing to pay bills from your trading gains. Here’s a spoiler alert: the pressure is way too much and leads to unintended consequences. I’ve always admired Zep and he reminded me why as he dives into the changes he made to alleviate this pressure and keep trading part of his life. He’s got a great attitude toward how trading works and is not looking to paint a picture that does not exist in reality. He’s doing well and seeing his account grow, but it wasn’t always this way. He’s been through several “down periods” which he is gracious enough to share with us all to learn from! Let’s get to it and get an update from Zep!

I’m not sure how to explain it, but when you’ve been doing something for such a long time, it’s almost as though you forget things that you know. I’ve been trading in the markets since 2006 so needless to say, I’ve seen quite a bit and have had plenty of “ups” and “downs”. Just this past week I found myself in an unexpected set of circumstances that ultimately could not have been more beneficial for myself. Not only did it help with my actual trading results, but it brought back to my attention a vital skill that we all as traders need to remember to implement into our trading. There is no doubt about it that much of trading is all about your personal needs and risk tolerance levels; however, it is also a fact that there are general rules that apply to 99% of people. The craziest part about all of this is it is something I know I’ve talked about dozens and dozens of times on this very podcast. I’ve lectured other people on the powers of this skill, yet, somehow I had forgotten about it in the deep down places of my mind. I’m thankful that I was able to go through the experience I did as I truly received a great reminder and I want to share it with you so you can, hopefully, benefit as much as I did.

By day he is selling potatoes (literally!) and by night he is grinding and growing his trading account! This is one of the amazing attributes about the financial markets. They have no feelings. They don’t care about you. While this can be a scary thought in the sense of not feeling bad for taking your money, there is a positive side to this too. They don’t care if you are some potato salesman who lives in Idaho! If you trade smart and use a risk based strategy, the markets will reward you. My guest, Chad, is a very motivating guy and has a great story that keeps me inspired to continue to hustle and grind on my part! Chad has definitely had to take some big lumps along the way, but he kept going and focusing on the areas that needed fine tuning. In doing so, he’s found a very good place for his personal psychology within this overall trading strategy. Chad also used to be a financial planner with a couple different financial licenses, so he brings in a very interesting point of view from those areas of the market. Chad was open and honest which produced a fantastic discussion about a variety of critical topics for us as traders. Let’s get to it!

The goal is to grow your account. Simple… right? If you have even a shred of trading experience then you understand how laughable the word “simple” is. If you are relatively new and feel as though it is pretty “simple”, I would encourage you to consider the possibility that you are experiencing what is known as fool’s gold. Trading is a very challenging and difficult endeavor. The encouraging news is that, although difficult, it is totally possible to find success. This is where member, Brandon (’BRosi’ in the chatroom), can share some insight. He is seeing his account grow and he’s doing lots of things the right way. He’s a great example of what it takes in order to put your account in a position where it can pick up momentum. With that being said, it hasn’t always been that way for Brandon. He’s gone through plenty of struggles and had to endure hardships during his journey. How did he get through those? What has he learned along the way that he wish he wouldn’t known prior? We go into all of this and way more! If you’re looking to get your account growing, then you’ll want to listen to what Brandon has got to say!

Depending on where you currently reside in your trading journey, the title of this episode may seem a bit ironic. Perhaps when you take a trade using real money (opposed to trading in a simulator) you experience of surge of emotions and physical stress. I understand and anyone who has traded understands! Here’s the thing, these emotions and stressed can be extremely diminished. There will always be emotions due to the fact we’re emotional creates; however, that does not mean they need to dominate our trade plans or experiences. My guest, Greg (”G-Mac” in the chatroom), is a great example of this. He has a very successful job and is very good at what he does. With that being said, with the types of responsibilities he has within his job, it creates a good amount of constant stress. Throw in the fact he’s a father of five kids (like myself!) and I don’t blame him one bit for pursuing something that can become less stressful than his current situation. Greg’s ambition come from a place of wanting to be a good father and I respect that in huge ways. He’s also being extremely smart in the way he goes about it; however, like all of us, he’s played with stupid along the way. Let’s hear about Greg and his journey!

Odds are, you are ambitious and love a good challenge. With that being said, if you are a total beginner to the world of trading and investing and are here because you “want to get rich quick and easy”… then RUN! RUN away as fast as you can! If you want to find success in the markets, you’ll need to be here because you are passionate about it! When you are passionate, you are going to gain the advantage of ambition… but that’s where it all gets a bit tricky. Yes, passion is certainly an advantage; however, it can also work greatly against you in your trading journey. My guest, Sheyi, shares with us exactly how this all plays out. In fact, he was brutally honest about how much of a bad situation be placed himself in as we grew $200 to $7,000 in a single trade (but that’s only the start…). What did Sheyi learn from this? How has slowing himself down become a huge benefit? We’ll talk about that and much more. Sheyi has Nigerian roots which help to give him a perspective that many of us do not have access to. I think there is immense value in his view of the world and how he goes about his daily life. In other words, there is something for everyone in this discussion and I’m confident you’ll enjoy it as much as I did!

It amazes me how the mainstream financial media overlooks such basic graphs that illustrate such powerful topics of consideration. Unfortunately, the graph I will discuss in this episode guarantees a painful recession (if not a depression!). Oftentimes the best predictor of the future is looking backwards into history. I realize that past history does not guarantee future results; however, when you consider the context of the last time in history a balance sheet reduction occurred and combine that with the current state of affairs… uh oh! I don’t mean to be so pessimistic, but it’s hard to be positive when all the data is staring you in the face screaming, “be ready for pain!”. You don’t need to be an economist to analyze this graph and see all the red flags it presents to our current economic conditions. Inflation is a massive problem and needs to be fixed. Will the federal reserve do what it promises to do? This graph suggests, if they do… it’s gonna be painful! Let’s discuss it!

You would think taking a break is a good thing. In so many areas of life, the thought of “hitting pause” and stepping back in an amazing situation. When we step into the world of trading however, it might as well be the end of the world. If we are traders, well then… we should be… trading! I understand this all too well in my journey and if you are reading this, I assume you are an ambitious person like myself. This is one of the reasons trading is such a challenge. It will take ambition and use it against you. This is why oftentimes the most wise moves feel like the total opposite of being wise. As our guest this episode, Justin (chatroom alias, “dentman4411”), shares with us, hitting pause as hard as it may be, will prove to ultimately put you in a much better spot within your trading journey. Justin held nothing back regarding his journey and was totally open, including talking about a $4,000 loss he took. As a business owner, Justin is a very motivated and ambitious person, so as you’d expect, he struggled with the whole idea of “pausing”. How did someone as ambitious as Justin overcome this hurdle? How did it help him? We discuss those topics and a whole lot more! Let’s get to it!

No. I’m not exaggerating. This trader, literally, lives in the middle of a 1,200 acre swamp surrounded by gators, snakes and hogs. I want to offer you up a fair warning. If you are someone who is constantly looking for reasons on why you can’t do something, you are NOT going to like this discussion. With that being said, if you are someone who finds motivation and inspiration in other people who adopt the “no excuses, let’s get it done!” type attitude, you’ll love Louis! I talked with Louis several years ago on the podcast and he’s still the same hustler and grinder that I remember him being! As was the case during our first discussion, I found extreme motivation in regards to how Louis has multiple streams of income, sticks to this strategies, and is always focused on the solution rather than the problem. And let’s be honest, his accent is amazing! If you are looking for motivation and need an extra boost of, “get er’ done!”, then look no further than Louis and his ongoing journey! Let’s go!

We’re once again going “down under” to hear the story of a young Australian trader! It still blows my mind that we have a community of traders from all over the world, including the, literal, other side of the world! These discussions are always motivating reminders to myself that whenever I stumble as a trader, I’m not alone. The same emotions that have caused me and many other traders are the same emotions that cause issues on the other side of the world. At the end of the day, we’re all humans and we can all find common ground. My guest, Riley, opens up about his journey within the markets so far. He’s a younger guy, so while he does not have a huge backlog of horror stories or experiences, he does still have plenty of stories to share that we can all benefit from. Riley has several areas he needs to continue to get better at, but thanks to him being open and honest, we gain inside access to his mind which is always helpful. I’m confident you’ll enjoy this conversation as much as I did, so let’s get to it!

Day trading is not an easy task. It’s a challenge each and every day. The upside potential, in my opinion at least, is well worth it all; however, it’s hard. What makes day trading so hard is the psychology that goes into it. In particular, just how fickle everything is. Meaning, all it takes is a slight slip up with your emotions and psychology and your day trading strategy can spin out of control in a hurry. I’ve been day trading for almost 20 years now and I’m still shocked and amazed at how every now and then old habits sneak up on me and cause headaches! The good news is, these events get further and further apart from happening; however, they do still happen and can happen in the slightest of ways. When I reflect back on my experience as a day trader, I’ve noticed there being four words that come up time and time again. These four words have created many annoyances and heartache. The most challenging aspect of these four words is often times, they will lead you to (seemingly) good outcomes. But yeah… all it takes is one of the situations you’ll hear about in this podcast episode to.. well… you’ll hear what I mean! I hope you appreciate the transparency of me talking about mistakes and loses so everyone can improve! I’m not the perfect trader and never will be, but if my own public shaming on this podcast can assist you in your day trading journey, then in a weird and twisted way… it’s worth it!

The sale’s pitch of “read a book” or “take a course” and then you’re a money making trader is extremely attractive. It seems reasonable to conclude you would sell a whole lot of books and/or courses; however, unfortunately this is not how trading works in the real world. You don’t get to snap your finger while reading a book and then all of a sudden have money rain down from the sky. Trading in the real world is not a snap of your finger, but rather, a journey that requires endurance, passion and... well, time! The whole goal is to aim for a target of continual progression in the right direction. My guest, Scott, shares his journey so far and you’ll notice overall he is putting in higher lows and higher highs in regards to his “trend”. Like us all, his journey and progress has not always been smooth; however, to his credit he is keeping his ax to the grindstone and continuing to sharpen his skills and understand of the market. Scott worked a super unique career back in the day, which I think has brought an interesting perspective of the markets. What does progressing in the right direction look like? How can you tell if you are doing the same? Scott is a great example of it, so let’s get to it!

I always enjoy talking with current or former military people. Their point of view comes from a place of massive structure and planning. When people’s lives are on the line, having structure and a plan of action is of the utmost importance! I have nothing but respect for people who are serving (or who have served) as they have dealt with situations that for most people can only be imagined. In this episode, I talk with fellow member Brian. He is now retired from the military, but during his service he had several leadership roles. These leadership positions gave him a great perspective on life and discipline. How do all of these points of wisdom trickle into the world of trading? As you hear Brian speak, you’ll begin to see one similarity after another. We had many fantastically interesting discussions which oftentimes circled back to military examples or wisdom gained from his service. Brian is an incredibly intelligent person who has a view of the world (and therefore trading) that many of us will never have. He was kind enough to take time out of his day to share his journey and thoughts with us all. I truly enjoyed this conversation and I’m more than confident you will to! Let’s get to it!

This is episode has a pretty awesome set-up! My guest, Joseph, has already been on the show once before. When he was on previously, he had just lost $23,000 and that’s where the show (and his current journey) ended for the time being. I have nothing but respect for people such as Joseph who are willing to share their journey publicly, no matter the results. Many people would have never agreed to have come on after having lost $23,000, yet, he did! This in and of itself puts Joseph in rare company and shows how big of a heart he has when it comes to trying to help others learn from his mistakes. He promised to come back a year later and here we are. What happened to Joseph and his journey after having just lost $23,000? Was he able to recover or did he continue to spiral out of control? Joseph is a tenacious guy who loves a good challenge and is not scared of getting punched in the face. He’s had continued learning lessons (including one regarding taxes) along the way, but all of these have continued to forge him into a trader. I really enjoyed our discussion and I’m extremely confident you will to! Let’s get an update from Joseph and hear what happened after having lost the $23,000!

I know terms such as “poor” and the like get thrown around pretty loosely in today’s world as people try and be as dramatic as possible, but that’s not the case here. When you hear my guest’s starting point in life, we’d all be hard pressed to find a word to describe his situation other than “dirt poor”. In this episode, Tyler (for you chatroom members, “DearApolloz”) walks us through his trading journey that quite frankly does not even seem possible. A fair warning though in regards to Tyler and his story, if you are someone who walks around with a pocketful of excuses and reasons why a goal can not be accomplished, you will not enjoy Tyler’s story. He had every excuse in the world to throw up his hands and berate everyone around him, but he didn’t. He focused on solutions and these solutions have taken him far. So far in fact that he’s developed positive cashflow in his budget that he can now use to grow through the world of trading! Tyler is currently laser focused in developing his skills as a trader and using new opportunities to put himself in the best spot to succeed with his trading. He’s an extremely hard worker who has an insane daily schedule (which we talk about) but he’s not complaining. This discussion had me feeling both grateful and motived! If you need a dose of inspiration in your life right now, Tyler’s story will serve it up! Let’s go!

If you want to be a day trader, then you’ll want to definitely understand how the tax system works within the online trading world. I’ve been working with beginner traders since 2013 and there is one tax trap lurking in the markets that I’ve continually seen snare unsuspecting beginners. As someone who is just getting started within the stock market (or any financial market for that matter), you could be doing quite well within your wealth generation to then be set back due to this trap. I wish I was being overly dramatic here, but I’m not. This tax trap could have some relatively large negative financial impacts on your cash flow, slowing down your overall wealth building strategies. The good news is, once you are aware of some basic trading principles in regards to “profits” and “loses”, you’ll know exactly how the trap works but, more importantly, how to avoid the trap. As traders we need to always be focused on mitigating risk and factoring all forms of risk into our trade plan. This behavior needs to also extend out into the general management of your day trading business. Remember, day trading should not be treated as a hobby! This tax trap is an exact reason why! I hear it way too often, “I was just doing all this for some fun and did well, but now I’m in a mess!”. Let’s get knowledgeable on some basics of trading so you can avoid a much larger potential mess in the future with your trading results!

Do you think your schedule would be a bit hectic if you had five children? Who knows, maybe you are reading this as someone who has had more than five kids? My guest in this episode has great ambitions of being a a quality trader, but he’s also got five kids. And because he’s a quality human being, he is also trying to be the best father possible! As someone who also has five kids, I can speak from experience that life gets busy and there always seems to be something going on. Shawn (”spursfreak” chatroom alias) is a man who is not throwing up his hands with excuses, but rather, keeping his head down and grinding to be both a good trader and Dad! Even if you don’t have any kids yourself, are you an Uncle or an Aunt? Do you know any younger kids in general? If so, I think there is quite a bit you can learn about Shawn and his attitude towards them in terms of pointing them in the right direction. Along with this, Shawn is totally open about his journey so far with trading and to no surprise, he has not been perfect! That’s what is awesome though! Within the imperfections that Shawn shares, we can all learn valuable lessons! Let’s get to it!

The mind is no place for playing checkers. It is one massive game of chess on steroids. If you are a beginner, the sooner you realize that mastering your mind is a big puzzle piece for trading success, the sooner you give yourself an actual chance at success. If you are a veteran trader, then you already know how challenging the mental game is for us as traders. No matter where you are in your journey as a trader, my guest for this episode will sound relatable! Nick (”SecondChance” for those of you in the chatroom) shares his journey with us which includes a variety of situations that I was able to relate to, and I’m sure you will too. If you are a beginner, he offers up some great bits of advice from mistakes he’s made. I appreciated Nick’s willingness to be open about his struggles and areas of the market he realizes he still needs to work on. We also discuss the tricky market we’ve been in over the past couple of months, including how to make adjustments and navigate the choppy waters. If you’ve felt as though the markets have gotten more difficult over the past couple of months, you’re not alone! Nick and I feel the same way and talk through the challenges together. There is something for everyone in this episode, so let’s get to it!

Being wrong is part of being a trader. No one is perfect within the financial markets, not even Warren Buffet. The difficult aspect of being wrong in the financial markets is it causes you to lose something you are psychologically tied to: survival (in the form of money). The whole idea of accepting a loss is very hard to describe. Or, as my guest in this episode, Kris, explained, “you need to to take a loss to understand a loss”. It may be easy to “think” you know how a loss works and how it will (or will not) affect you; however, as Kris points out in accurate fashion, that’s all pure theory. This was just one of many interesting talking points Kris and I covered. Kris is a highly intelligent individual who works in the engineering field and with AI, so he knows how to think. He certainly lives his life in a structured and logical way (which I appreciate as a former engineer myself) and his outlook on life is one I would argue is required for success. We also have a great discussion on the future of trading as AI continues to develop, so there are a variety of rabbit holes that are explored in what I found to be, very interesting ways! Let’s hear about Kris and his current trading journey!

One of the most important facts about trading is also one that is rarely talked about. If you are trying to sell a product or service, then from a marketing standpoint, some facts are not beneficial to discuss. One of these facts is the need to be so brutally honest with yourself that it hurts. Let’s be serious. As humans, we all want to feel good about ourselves. I realize that is obvious. The problem is, in many situations within the world of trading our egos will need to be bruised to ensure we move forward and survive was traders. This concept is perfectly illustrated with my guest from the community, Aaron (Aharris_6 in the chatroom). Aaron is pretty new to the markets; however, to his credit, he understand the important of needing to not just be honest with himself, but brutally honest. Aaron has been making a whole lot of wise decisions within his trading and is a shining example of what it takes to be successful when you are in the early part of the journey. If you are looking for someone who is making millions of dollars, you won’t find that here. If you are looking for someone who is willing to share their journey so that you can learn and earn from them, then perfect! I thoroughly enjoyed this conversation and I’m extremely confident you will too!

The stock market begins to crash, and as investors we begin to hear, “buy the dip”. The stock market (or any financial market for that matter) can never go straight up, so there will be those times where the ride gets pretty crazy. At times, the price action will simply be a correction; however, at other times, it will be a Bear market where stocks crash and prices go lower than you had ever planned. These are the moments where an investing strategy can begin to fall part and produce results that didn’t seem possible. What do I mean by “didn’t seem possible”? This is where the “bad logic” comes into play in regards to buying the dip as stock prices continue to fall. Let me be clear though, the logic “makes sense” and on the surface seems to match up with reality. If you are a beginner to investing into the stock market and looking to just get started, this apparent logical reality is why investing and trading can be so misleading. There are several areas on the market that make sense and are logical; however, from a strategy building perspective, it’s bad logic. To be fair, there are certainly times where buying the dip is a good thing and you should have strong hands as an investor during the turbulent times. With that being said, if you are using the kind of logic I discuss in this week’s podcast, you’re going to end up in some bad situations where your stock investment, literally, disappears.

This may be a first. I don’t think I’ve ever talked with someone whose location is Russia! But hey, as the podcast continues to expand larger and larger, I suppose it was only a matter of time. Now, I don’t want to get too dramatic. Many of the struggles you’ll hear about have been talked about time and time again. This truly goes to show that no matter who you are, where you live, what your status in life is, you ARE a human being. Meaning, you’re going to have very similar struggles to others who are attempting this journey we call trading! My guest, Emanuel, was extremely fun to talk with and learn from. We went off on a few different talking points as I had a genuine curiosity of what it’s like to be in Russia; however, we did also talk plenty of trading! Emanuel faces a few more unique challenges than people living in other places in the world, but he’s not making excuses or allowing any of it to hold him back. He’s had some troubles and rough patches, but there are great learning lessons that he shared. He’s got more goals for the future and he’s putting together the plans needed to make them happen. I’m very confident you’ll enjoy this discussion as much as I did, so let’s get to it!

For parts of this discussion, I thought I was in a Hollywood movie about Wall Street. Being a young kid, going to Long Island to work for a brokerage while having to make cold calls to people who would routinely shut you down? Does this stuff actually happen in the real world? My guest for this episode, Demetri, shares his Hollywood like lifestyle when he was younger and where it took him from there. Demetri is a very smart guy; however, he is also extremely humble and willing to set any ego aside and just keep things real. He’s come a long way since his first encounters with the markets in his younger days and he shares it all. For those members of the community, you have seen the results Demetri shares on a daily basis and you know how motivating they are. What exactly is his strategy? What are the dynamics of the market he cares about most to make his trades? How did he arrive at the money making strategy he is currently using? We talk about those things and a whole lot more. This was an extremely fun conversation to have and I’m confident you’ll feel the same way being a fly on the wall. Let’s get to it!

I know. I’ve said it about 17 million times through the history of the podcast, but I’m saying it again: iron sharpens iron. While I certainly do not proclaim to have the world and life figured out, I can say it is my personal experience that when you surround yourself with quality individuals who believe in “taking control” of whatever situation they’re in, it makes you a better person. In this episode, I bring back someone who I consider a friend, Judd. He’s not new to the podcast, but he’s someone who I feel like I could have on every other week. Judd is an extremely successful guy and although he is modest about it, the facts are the facts. The cool thing about Judd is he’s not a hater. He does not look down on people. He is not looking to kick anyone when they’re down. In fact, he’s looking to do the exact opposite. He’s looking to provide solutions and share what has worked for him in life. Judd and I do talk about trading during the podcast (as he’s entered into the world of shorting); however, I would argue the most important talking points of the conversation happen during the first half. Judd has crushed it in life and now he lives a live most dream of. How did he do it? What would he recommend to someone who wants to get to where he is? We go into all that and much more!

It’s logical. You do something really really well and your confidence explodes. There is no harm in having an ever growing confidence, particularly in the world of trading the financial markets. With that being said, there is a very fine line that is easy to cross where confidence turns into over-confidence, or in some cases, flat out cockiness mixed with arrogance. While not everyone spins into the world of arrogant cockiness, plenty of people (myself included) have experienced a slide into over-confidence. As traders we need to keep ourselves accountable and always be monitoring our attitude towards ourselves and the market. My guest this episode, Chad (”iamvol” chatroom alias) returns for his second appearance to update us on his trading journey. I’ll only offer up a small spoiler, but Chad had a... very nice... trade he was part of. One of those trades that can cause traders to quickly cross the line from confidence to over-confidence. Chad’s reaction to this nice score along with how he continues to conduct himself by staying accountable are where the true nuggets of wisdom are derived from. Chad could have gone down several other pathways than the one he did; however, he showed a huge sign of trader maturity with the choices he made. Let’s welcome back Chad and get an awesome update on his current journey!

I truly mean it when I say it, but when it comes to disagreeing on any kind of topic, I’m totally fine with it. The world would be a super boring place if everyone agreed on every topic. With that being said, if we are going to disagree on a topic or have varying opinions regarding it, hopefully we can both agree that a firm understanding of the topic would be wise. I realize I state the obvious when I say that forming opinions on a topic that is not fully understood is a recipe for disaster. There is a hotly talked about topic out there, which has a numerous amount of opinions and that’s great. Unfortunately though, many people out there (hopefully unintentionally) are framing this discussion in a way that is very deceiving and does not allow for an honest conversation to occur. My goal with this episode is to arm you not with an opinion, but with a full understanding of how this topic works so that you can form you own fully educated opinion on it. I will not be sharing my opinion on this topic. I simply want to ensure you have all the pieces of the puzzle before you form thoughts. Or, who knows, maybe you have encountered someone that is missing a few pieces of the puzzle and you can assist them by filling in a few gaps. Let’s get to it!

This is a first. Over the timespan of 7.5 years, I have never done an episode such as this. My guest and friend, Jose, is back again for the fourth time and he’s doing an exit interview. Joes has been with me since the start. He was one of the first people to join our community and invest into my training program back in the 2013 timeframe when I was just starting it all. Approximately eight years later, he’s leaving the markets for the most part and wanted to come back and do an episode to wrap up his journey. Jose lives in South America and has always had a very enjoyable view on multiple dynamics and circumstances. Both from a culture perspective and from an experience perspective developed in the corporate world. He is someone who is not afraid to share the mess-ups, but also not afraid to tell it how it is. He doesn’t mince words and he’ll hit you right between the eyes; however, he does it from a place of total sincerity and passion. So... why is Jose leaving the markets? Why would he want to come and do an exit interview? We talk about that and much more. Let’s go!

Happy New Year everyone! I wish you a prosperous 2022 with whatever you are chasing after! No matter what you are chasing after, a great way to better the odds you capture your goals is with a plan. The more structured a plan, the more likely you are to make your goals a reality. I’m assuming for many of you, your goal has something to do with finding success or improving upon successes you’ve had in the markets. My guest from the community, Cameron, is in the same exact boat as you. He’s been in the markets for a while now and has been trading with real money; however, he’s still not where he wants to be. He’s still striving to give himself a complete picture of trading and take a firm hold on trading for consistent profits. The good news is, he’s got a plan and now he just needs to stick to it. This is the part that separates the “talkers” from the “doers”. Anyone can sit around and “talk” about goals and their plans on how to achieve them, but when it actually comes to “doing” what they say, this is where many people fall to the waste side. I look forward to having Cameron back on the show someday to hear if he stuck to his plan (which I’m confident he will), but I enjoyed the timing of this interview with it falling right at the start of a new year!

My guest on this episode is no stranger to sharing his story. This is his fourth appearance on the show and, like usual, he crushes it with the discussion. Mike ('HeyFordy' chatroom alias) has taken many punches to the face. Both physically (he's a former boxer) and financially within the world of trading. This is why I want to surround myself with him. When you find people in your real life like "Fordy" (what I call him), be sure you keep them in your life. As the saying goes, "iron sharpens iron" and when you can there is no doubt that Fordy is a piece of iron. Fordy has been in the trading game for several years now and he's someone that has survived and continues to thrive. He has found what works for him and he understands the value of being very self aware and not trying to push the limits beyond what is required. Like all of us, he has done several boneheaded moves over the years, but the difference is, Fordy is nice enough to come and publicly discuss them so that you can avoid the same things, or at least receive a full warning of them! I really enjoyed my talk with Fordy and I'm sure you'll feel the same. Let's get to it!

While it is a great sale’s pitch to tell someone “I have the strategy that works, come follow me!”, unfortunately, that’s just not how the financial markets work. It would be great if there was a “one size fits all” approach and strategy that everyone could use to make money, but... yeah... that’s a fantasy land. The fact of the matter is we are all different creatures when it comes to risk tolerance. We all view the world a bit differently when risk enters into the thought process. My guest is this episode, Joe (’JoeK’ in the chatroom) shares with us his journey that does a fantastic job of illustrating this very point. Joe is a very solid individual who illustrates just how important it is to work hard and be persistent with the choices you make. He of course has not been perfect in his journey, but he was kind enough to share some of “the stupid” he experienced with the hopes that you can benefit from his mistakes. I really enjoyed my talk with Joe as he just shot straight and held nothing back. He’s doing very well within his trading and is someone that needs to be molded after. Let’s get to it!

I truly hope this entire podcast (which is pretty short and to the point) is something that leaves you saying, "Thanks Captain Obvious!"; however, I've learned that human emotions can be a very bizarre thing to understand and control. We are living in a new day and age it seems where information spreads so quickly and it is very easy to get caught up in the emotions of the info! I would hate for one of you to do something that you'll regret later on, so that's the main reason for discussing a thinking strategy that hopefully you're already on board with. I have no problem admitting that, at times, the world can become a crazy and unknown place, and the temptation to listen to your emotions and behave in certain (irrational) ways becomes very possible. Because of this, I want to bring your attention to the question of "Do Zombies Care About Investing?". By doing so, we're going to take ourselves on a little thought journey that will help ensure we behave rational when the temptation to behave irrationally arises. Let's talk some zombie investing!

For me, it's easily in the Top 3 Most Admired Professions in the world: farming. Without farmers, there is no "us". I was honored to talk with a Lance, a member of our community and yes, a farmer! I admit that some of the conversation went a tad off topic into the business realm of farming; however, it is my hope that those of you listening enjoy the business attributes of things given you are trying to start, maintain, grow a business of your own... trading itself! So on that note, a friendly reminder that if you are not treating trading as a business, you are not taking it to the level of seriousness that it needs to be in order to have success. Yance and I discuss a variety of issues regarding trading and he's got a few very very unique dynamics in his life. Particularly when it comes to the futures market. I know many members trade futures, and so does Yance... kind of. His involvement in the futures market is unlike 99% of people and it is fascinating to learn about! He also does "normal" trading on his own which we discuss. Bottom line, this was a great conversation and there is something for everyone here, so let's get to it!

I suppose it depends on who you talk to, but have you ever talked with someone and they are under the impression the world is doomed because of the "younger generation" coming up behind us? I know I have. And to be fair, there certainly are lots of self entitled and lazy people that are part of the younger generation. However, there are also people like my guest Daniel. He's a 23 year old guy who is crushing life and now he's brining that into the world of trading. He is a text book example of "iron sharpening iron" and someone that you need to find within your everyday life to surround yourself with. Like everyone, Daniel had some rough times with his trading and he was kind enough to share those with us and the numerous lessons he has learned. He held nothing back and was totally open in sharing how his journey (bad included0 has been unfolding. One thing I can say with full confidence is that if he continues to employ his approach to life in general to his trading, he will continue to have a bright future ahead! Iron sharpens iron. Let's go!

While trading has a variety of upside benefits and potential, there are also many challenges that make consistently performing the skill a huge hurdle. The problem in many situations is people only focus on the positive sides of trading. From a business sense, I can understand their model. It sure is easier to sell a product or service when you give off the impression trading is easy and money making can happen quickly. However, all that does is set people up for failure due to a lack of alignment of perspective and reality. Thanks to our guest, Michelle ('MichelleS' in the chatoom), we have a very open and honest insight into some of the various challenges that traders face. She has a nice knack for creating analogies to explain things, so I thoroughly enjoyed talking with her and understanding her journey. In fact, be sure to stick around until the very end as she was so honest that she totally revealed something near the end that sparked a whole new discussion (and an important one!). Michelle is a great asset to our community and this episode is certainly going to be worth your time. Let's get to it!

I welcome back long time member, and close personal friend, Nate Wilson to the show. He's been on the show numerous times and as creepy as it sounds, he's a good friend of mine. It's always a bit odd to tell people I met him "in an internet chatroom", but, that's the truth! For those of you who have been around the community, you know he's never been afraid to tell it how it is, including some of the struggles he has gone through. Nate's advantage comes in the form of being resilient and not giving up. He's been punched in the face on several occasions but his has continued to fight forward and adapt within the ever changing landscape of the markets. In this discussion we talk about a new way he is using the strategy that he's been using for years. That may sound like a contradiction, but, it is still the same strategy, just within a different asset market place. He was kind enough to explain what he's looking for and what the various requirements are for his strategy to go into motion. If you are someone who is looking for a very different angle to the market, then I'm confident you'll want to hear what Nate has to say. Let's get to it!

I'm sure you've heard it. Warren Buffet's secretary pays more in taxes than he does! It's a very popular (and powerful sounding) headline that the media loves to use. Let me start off by saying, first off, if you are lookin for some kind of political tirade, you will not find that here. I want to approach this topic in a very logical and reasoned way. You are more than welcome to disagree with the reasoning and logic behind this topic (and we can still be friends!); however, I'm sick and tired of the media twisting and turning some very basic business and general math principles. My goal with this quick discussion is to hopefully help you speak clearly about this topic the next time it may come up in your everyday life. Or, maybe you never speak about it at all, but at least being able to listen to the discussion in a more informed way I would argue is a good thing. Putting all politics aside and looking at this topic through the lens of "why" and "how" is this possible, let's dig into the reason the rich are paying less in taxes that many middle class Americans!

I suppose it's a pet peeve of mine. But I really can't stand it when people who are making good decisions use the word "luckily" or "luck". No! It's NOT "luck", it's you taking action and doing something with good decisions that is the cause. We have a great example of that in this episode with community member Steve. I found him very motivating in regards to "let me do what I gotta do to make things happen", part of which included willing to move to Alaska for work! How crazy is that? Steve has been on a trading journey that, like many, has included several ups and downs. The big difference with Steve though is he looks in the mirror and points at himself. By doing so, he's been able to identify key problems and then make the proper choices in order to correct the problem. Steve is one of those, "I have no excuse" kind of people, so if that sounds like the type of person you want to be surrounded with, then you'll love this interview. Let's get to it!

There are many ways you can go about learning how to trade and be consistent. I would argue that some ways work better and are more cost effective than others, but those are just my personal theories. In this discussion, we are actually making a bit of history. How so? Well, Chris somehow slipped through the cracks and is currently not a member of the community. For those of you newer to the podcast, I try and make it only with current members. I discovered half way through that Chris was not a member, but at that point, we were already so far in, him and I still went with it. Chris is choosing to go on his journey alone, and that brings up some interesting talking points. He has his theory on why this way will work better for him, which while I don't agree with, I do respect. Although we both have different viewpoints on several issues, I will say that he was able to remain an adult the whole time and we still had a pleasant conversation! In fact, I think there are several great learning opportunities for everyone that come from the conversation, so let's get to it!

Ever heard of the K.I.S.S. method? "Keep-It-Simple-Stupid".... I'm a big believer in it as I've learned that not only with trading, but many areas in life, the more simple it is, the more likely it is to happen. With that being said, when it comes to approaches to the market and trading strategy, we may have a new winner when it comes to keeping it simple. My guest from our community, Andre, shares with us his strategy and quite frankly, it caught me off guard. You'll notice I go into a bit of "CIA question mode" as I try to pick apart exactly what is going on. Am I successful? Are there some flaws that Andre is overlooking and needs to correct? At this point in my podcast career, I'm pretty confident in my ability to be "in control" of the discussions, but I admit, for a bit I was taken by surprise at how straight-forward Andre approaches the market. Ready for a "simple" ride? Let's get to it!

Talk about a good problem to have! Finding yourself in a position where your career is doing extremely well, but, still wanting to trade. That's the exact position long time member, Diego, is experiencing. This is Diego's third appearance on the podcast and a whole lot has changed since his last appearance. His career continues to bloom and because of that he's needed to make some changes within his trading. You may be thinking, "why bother trading?" since he's doing so well in his career, which is a fair question on your part. Diego is a hustler and grinder and he wants (like any wealthy person you will study) multiple streams of income. He's an extremely motivating guy, so if you are looking for someone with a "no excuses" mentality, then look no further. Diego shares with us how he works a full time job, yet, is still finding the time to make trades and earn additional income. Let's get to it!

Sorry to be the bearer of bad news, but passion alone is not going to be enough when it comes to becoming a successful trader. In this solo episode, I want to share with you what I've learned to be a very powerful way to identify opportunities to give yourself an advantage of overs. I realize that can sound a bit cutthroat and savage; however, let's keep things real, the world of trading is a competition against other human beings. Like any competition in life, the more advantages you can give yourself, the better the chances are that you find success. Let's focus on some pain and how it can actually help you become a better trader and beat out the competition you face!

For this episode we head overseas to talk with a British member of our community, Jason. I always enjoy these discussions as it does a fantastic job illustrating the fact there is no holy grail. What do I mean? Jason is in a completely different country using different brokers than what we here in the USA are using. Yet, as you'll see, he still deals with the same struggles and traps that everyone else done. Point being, it doesn't matter where in the world you are, at the primal level of trading, we can all relate. Trading has nothing to do with what country you live in, it has to do with the fact you are a human being who has emotions. Jason's willingness to share his journey opens up the doors to someone who I would say is doing things the right way. Is it massively flashy? Nope! But it shouldn't be. Trading is a marathon and not a sprint and when you understand this, it will allow you to approach your journey in a much wiser and controlled way. I would say Jason is a fantastic example of exactly this. Let's get to it with this fine gentleman from the UK!

In this day and age, you would get a funny look if you told someone you tried to learn a new skill without using YouTube. No one is stupid or being irrational for choosing to use YouTube as a learning tool for whatever skill they are trying to understand and master. For some skills, YouTube is a quick and effective way to add in a new skill to your productivity toolbelt. In other areas though, YouTube can bit a whole lot more tricky. To better illustrate this, we have a guest who has chosen to take that path. Jose, while being a member of my trading community, is not a member of my structured learning program. As he admits, he's watched a whole lot of YouTube videos, including mine; however, he's still experiencing quite a few bumps and bruises. I'll be the first to admit that even my YouTube videos have flaws. The two major flaws being they are very surface deep (especially the live trading ones) and they are random. Meaning, there is no structure behind them. When you combine these two, well, you're going to have journey similar to Jose. I applaud Jose for his dedication and willingness to be honest about his journey as it showcases the deep dark rabbit hole known as YouTube.

I understand. I really do. The financial markets and world of trading and investing is awesome and offers so much potential! It seems like any direction you look, you can see an opportunity that could put extra money into your pocket. Splash in the fact you can do all this from anywhere with an internet connection and the temptation to "get going now!" becomes even more of a real thing. You're not alone in that feeling. In fact, as ambitious people, it's extremely normal to feel that way; however, DO NOT do it! Do not rush into this! You need to take it slow. Our guest this episode, Matt (community alias, 'brigbills') is a shining example of this. As you'll see, he has multiple streams of income and has a great work ethic toward life; but he's also taking things slow, as hard as it may be. In doing so, he's been able to expose himself to several pitfalls in safe ways. He's learned quite a bit (and continues to learn) about the proper ways to make all this work. At this point, he has not transitioned to real money, so there is a whole lot to talk about! Let's get to it!

If I were forced to guess some of the more competitive industries you can participate in, the New York City real estate market would be one of my guesses. Huge deals, huge competition and money pouring in from all over the world. It takes a unique individual to be able to survive in that kind of environment. This is the type of individual we have on this episode! Fellow member, Christian, is a long time real estate broker in New York City who has now begun a journey within the world of the stock market. My favorite part about Christian was he could have shown up with a big ego, but he didn't. He was completely humble and transparent about his journey so far, including the challenges that have taken some swings at him. We all have hurdles and adjustments that need to be made in life to maneuver through it, and Christian has been doing a great job with it. Let's do some iron sharpening and hear about his journey!

One of the great things about being a human is that we can relate to other humans. Sure, we are not all the exact same; however, there are some general tendencies that seem to be very common from one person to another. Because of this, we can develop general rules of thumb to help us be aware of these potential pitfalls that we set for ourselves (with good intentions of course). One of these heuristic dynamics we tend to use can be summarized as Hanlon's Razor. This can (and should) be used to many different areas of life, but for us as traders, as far as I'm concerned, it is an improvement tool that must be used. Hanlon's Razor offers benefits for the two different groups of traders. Those that are beginners and just getting started in their trading ambitions and those that already have quite a bit of experience. It is our job as traders to use and leverage as many bits of data as possible in order to give ourselves an edge in the market, and I firmly believe that using the trader improvement tool of Hanlon's Razor will assist in this quest. Let's talk more about it!

Have you ever been there? One single trade turns into a train wreck and demolishes your overall gains, or worse yet, your entire trading account. Maybe it has never happened to you, but putting all drama and hyperbole aside, understand the train is lurking around every corner just waiting for the right chance to steamroll you! In this episode I talk with fellow member John who is extremely transparent about his journey. In particular, he's very open about a single trade that steamrolled him and left him with only $600 remaining in his trading account. This can be a totally demoralizing situation to find yourself in, but that's exactly where John was. What did he do from that point forward? What changes did he make? How has his trading gone since that moment? This is a great discussion filled with horror, but also, moments of motivation and inspiration. So let's get to it!

We go international once again and talk with a Ukrainian member, Illia. The backdrop to this discussion was his willingness to volunteer to talk about his journey AFTER things got pretty rough. I have nothing but respect for him to be willing to share his journey even though he knew what he would eventually need to disclose. He's the type of guest that I believe is what makes this show enjoyable. I'm very confident many of you will be able to relate to his story. He had lots of great results and was feeling fantastic about his skills and outcomes, but then... well, a spoiler alert, things got rough. What happened? What are his plans now to get back on track? What are the learning lessons found within his stumbling? We get into that and a whole lot more. This is an episode that should be a requirement for traders, whether new or old. What happened to Illia can happen to us all, regardless of experience level, so it's a topic and concept that can never get "too old" in terms of being discussed. Let's get to it!

It would be so great and super convenient if I could sit here and proclaim to you that there is a "one size fits all" trading strategy... but, I can't. Sure, there absolutely are universal principles that all traders need to follow in order to stay consistent and survive within the markets; however, when you get down to the finer tuning of a trading strategy, that's where it gets trickier. In this episode, I talk with Lance (community chatroom alias, 'LanceC') about this very topic. In fact, as you'll notice it is an underlying theme to his journey so far. He has tried several strategies since he first began and we talk about each of them and how they factored into his journey as a whole and where he now currently sits. There is a very fine line between "strategy hopping" and sticking with a strategy long enough to give it an honest chance to work. Lance has done a good job with this and offers some solid experiential insight into what he's learned along the way. Let's get to it!

Yes! I have myself another awesome data point that proves I am justified in my crabbiness of not liking when people make excuses. On that note, a fair warning to you. If you are someone who likes to make excuses and are constantly picking up victim cards as they fall out of your pocket, you will not like this episode's guest. Long time member, Faysal, shares his journey with us and wow, it sure is motivating. He is truly a "man of action" and his attitude and focus on "the solution" is pure inspiration. He started off driving a taxi in New York City but wanted more from life. He learned about the market and did many stupid things; however, he always was focused on the "how" instead of the "can not". Although English is not his first language, he did a fantastic job of explaining his attitude and journey and it's something that anyone with hopes and dreams can (and will) be inspired by. Let's get to it!

I 100% your thought process is wanting all kinds of trading tools and functionality within your trading platform. I am with you in thinking that trading computers with several monitors and dozens of technical charts look awesome! However, is having all kinds of choices and options as a trader as productive and freeing as it may seem? This is a very common bridge that many traders fail to cross (myself included when I was starting) in a safe way. You would think that in order to have success as a trader you should be operating at maximum flexibility and freedom in terms of choices available, but what does the world of psychology think about this? Believe it or not, jam can help us gain insight into this world of decision making and human psychology. If you are struggling as a trader and just can't quite seem to pinpoint what the problem is, you better be considering what science has to say about this topic of "choice". Let's get to it!

Lots of emotions are bad for trading results. But when I stop and think about it, that feeling of anxiety has got to be one of the worst out there to deal with. It can cause you to miss out on trades, to exit a trade to early, or maybe to eventually just "FOMO" into a trade at a terrible location because you're so upset you watched several others "would have been a winner" trades pass you by because of the anxiety in the first place. Fellow member of our community, Marty ("2Madrids" in chatroom), struggled with anxiety and finally reached the point of being sick and tired of it. She decided to make some changes and redo how she was going about her trading journey. I give her credit for relatively quickly realizing that the emotion of anxiety can be crippling and for taking matters into her own hands. She has now reached a point where yes, she still has much to learn, but she has now essentially eliminated her anxiety. Lots to learn here so let's get to it!

I state the obvious when I say we all want to succeed as traders. The issue here is that "saying" such things is a million times easier than "doing" such things. While I understand social media and message boards may portray trading as a source of income that causes money to rain from the sky, that's all an illusion. Trading is an ongoing challenge and battle with a variety of defense strategies needed to succeed. Fellow member of the community, Evan, shares his journey thus far and it is filled with some epic quotes. Seriously, one of his quotes I plan on using over and over again in the foreseeable future. Evan held nothing back. He was fully transparent with his personal numbers and gives us all real world insight into the pitfalls (and benefits) of being a trader. Evan has made some huge strides within his trading and he shares all the exact decisions and behaviors he has implemented to make it happen. Let's go!

I welcome back long time member Jeremy (better known as RemytheRookie in the chatroom) for his fourth appearance on the show. I have nothing but respect for Jeremy and that has only grown over the years of us knowing each other. He recently accomplished a huge milestone in hitting just shy of six figures in trading profits last year! Not too shabby when you consider trading is only used as a part time side hustle! What could you do with $100,000 that you made "on the side"? Pretty crazy stuff if you ask me! How did this happen? What adjustments has Jeremy made over the years to bring him to a point where he can confidently trade and make money? We talk about that and a whole lot more. Jeremey is a great dude and he's someone I would consider a friend, so I bring you this conversation with great pride! Let's get to it!

Bad habits. Ugh! Regardless of where they show up in life, they're called "bad" for a reason! When you introduce them into a setting such as trading and investing where money can be lost, they take on a whole new dynamic. The odd thing though is as obvious as it may sound to say, "bad habits need to be avoided", it's amazing how many traders continue to stare directly at them, yet, don't seem them. When you're new and you don't know what you don't know, one of those areas includes bad habits. This is why anytime I can talk to someone who quickly realizes the danger of bad habits and why they need to be avoided, I get excited. It offers up a great learning opportunity. Thanks for our community member John, we all get to hear some really silly things he did; however, to his credit, he quickly realized the danger (unlike many others) and began to take steps to correct and avoid future problems. John held nothing back and offered up many different rabbit holes of educational opportunity, so let's get to it!

It is our job as traders to find as many variables as possible to leverage in our favor. I'm not suggesting we do anything illegal, but what I am suggesting is the best way to make a trade NOT a gamble is to put the odds in your favor. At the core, trading is a game of probabilities and odds so our focus needs to be on educating ourselves as much as possible, including within the realm of science and psychology. In this particular case, by understanding a very basic concept in psychology, you can better understand a type of trading that is easier. Now just because the trading style/strategy may be easier does not make it guaranteed; however, it again goes back to the point of it allowing you to leverage probabilities in your favor. I don't want to be a gambler. I don't want to view the stock market as my casino. I want to view this all as a methodical plan of attack where I can find myself "most likely" outcomes. The topic I talk about in this episode perfectly illustrates why you need to understand and leverage this human emotion within your personal trading.

Over 300 episodes, yet this was the first time I've spoken to a medical doctor in regards to his trading journey. I think we can all agree that becoming a doctor does not happen overnight and requires a whole lot of hard work and dedication. So, how does this ability to stay focused and dedicate a whole lot of effort to achieve something such as a medical degree carry over into the markets and trading? That's what we'll discover as I talk with community member Steve. I admired his humility in not trying to act like he's got trading and life figured out. He was very transparent and upfront about his journey and because of that, there are some valuable talking points that we can all learn from (or at least be reminded of). The markets demand respect, and that includes from those people who are extremely qualified such as doctors. You'll see what I mean...

For those of you who have been around awhile, you know I'm no fan of excuses. In the vast majority of cases, they are simply "cover ups" for some other core issue. With that being said, I can also fully admit that at times, there are situations where I would not call something an "excuse", but rather, a "reality". That's what we have with fellow community member Jacob. He has had a very rough time with some personal health issues that are just "fact of the matter". Here's the crazy part though, never once during our discussion did he play the victim card or hop on the excuse train. Like I said, in this situation I would have fully understand him feeling a bit bad for himself, but he didn't! He has now turned to the markets to help him overcome some rough circumstances and he's been learning a whole lot! He's done some very stupid things (as we all have!); however, he's also made some huge strides as you'll see near the end of our conversation. There is a whole lot for everyone to learn and quite frankly, just be inspired. Let's get to it!

Buckle up! That's really all I can say. I think the title says enough. I welcome back a long time member of my community for an update on his journey, and as the title reveals, it's a wild ride!

This is a common spot I've seen many of my current students in: they are overall profitable, but still wanting more. While this may sound a bit greedy on the surface, it's actually not (in some cases that is). Fellow member and student of my program Jeremy, is doing a great job of learning and keeping his account profitable, but as you'll see, he wants more in terms of figuring out where he truly belongs in the world of the financial markets. This is a very common place to find yourself especially when you consider just how massive the markets are. Stock market, Futures market, Forex market, Crypto market, Options market, and the list goes on. Should you be day trading or swing trading? What if you have a full time job that requires lots of your attention? Can you relate to this? You are not alone. Jeremy is in the same situation you are, but the nice thing about him was he is willing to share everything with you, publicly! It was a fun conversation filled with several fantastic talking points that, new or veteran, traders should hear! Let's get to it!

Thanks for a recently viral Facebook post I made (over 88,000 Likes and 66,000 Shares), I've gathered quite a bit of insight into a topic that I believe is severely misunderstood and viewed from an impractical angle. I totally understand why people view this topic the way they do; however, I want to talk about the view I take and one that I believe can help you be successful. To be fair, odds are you are already doing very well in this area of life, but I still think that by using my personal viewpoint, you can improve upon the good things you already have going. I mean come on, an improvement in efficiency is always a good thing, right? The fact of the matter is this, whether you like it or not, you are a business owner. There is no way you can get around it, there is no way you can escape it. Let's talk about this business and the types of choices you can make to create opportunity and make the most of it!

Sometimes one of the healthiest things we can do as traders is to ask another trader to "poke holes" in general though process, or in a strategy itself. I'll be the first to admit it is not always the most pleasant thing to hear criticism (even if it is constructive); however, when you take a step back from the situation, it's easy to see how beneficial it can be. I welcome back long time member of the community Chad and spend a good part of the conversation trying to poke holes and expose flaws in this current strategy. Does Chad's strategy hold up? Has he thought through the various areas of the market that can change and prove to be troublesome? I won't tell you that part, but what I can say is that Chad has a true passion for the markets and he is approaching trading exactly like it should be. He's had plenty of hiccups along the way, as we all have, but he's not allowing them to hold him down as he continues to grind to create a solid form of additional income for his personal finances. Let's get to it!

Massive warning! Like, seriously... be warned! If you are someone walking around with a pocketful of victim cards and your specialty is coming up with excuses and love the word "can't", then do NOT listen to this episode! It will cause you to have to look in the mirror and severely question yourself and your viewpoints. With that being said, if you are someone who believes that iron sharpens iron and love to hear stories about people beast-moding it and "finding a way", then you will love community member Sergio's journey! For him, it all started in Venezuela and to set up just a small spoiler of context, he came to the USA without understanding the English language, as a college kid! Where did his life go from there? How has trading played a role? We get into that and much more, but my favorite part by far was his willingness to always be focused on the solution, NOT the problem! Iron sharpens Iron! Let's go!

One of the big traps that I see many traders fall into is using the logic that the more complicated something is, the more effective it will be. While I do completely understand this thought process of thinking "the more you put in, the more you will get out", when it comes to the world of trading, often times it can be very misleading. Thanks to community member Alex (chatroom alias, "LTP"), we have a shining example of how overthinking and trying to do too much at once was ultimately holding him back. I'm all for people being ambitious and wanting to get out there and hustle and grind; however, as I've said many times before, the market loves to take ambitious people and use their ambition against them. While the saying may not always make sense, when Alex discovered that "less is more", his trading began to change. Let's get to it!

An account that is slowly getting smaller and smaller. Are you there? Have you been there? Do you feel like you could be there once the "luck runs out"? All traders will eventually come to a point where you need to look in the mirror and admit to yourself, "I don't know what I'm doing!" Sure, some traders will have the exciting firework situation of one or two trades that wreck an account; however, many traders will have the more painful pathway of a slow bleed. Fellow community member, Greg, shares his personal story with a bleeding account that kept getting smaller and smaller. The big difference in his story is that he was not only able to stop the bleeding, but has not transitioned that into an ever growing account. He's still had some hiccups along the way, but overall, his account continues to grow and grow. In order to have a chance at all for trading success, you need consistency, and Greg is a shining example of just what it takes to get to that level. Let's get to it!

I'm flying solo in this episodes as I wanted to touch on a simple, but extremely powerful topic within the world of trading success. I am keeping this short and sweet; however, please do not lead you to believe that it therefore is not as important a concept. This may sound dramatic but I will stand firmly behind this comment: the topic of trading passion is one of (if not the most) important concepts that needs to be realized. In fact, I'd be willing to wager that many of you think you have trading passion, but it's actually the WRONG kind. It's the kind that will ultimately lead you to headaches and failure. I'm aware everyone "thinks" they have trading passion, but the truth of the matter is very few actually do. So what is this required type of passion? Why is it so important? When will it be needed? Let's talk about it!

One of the most important points of understanding all traders must realize is that markets are constantly changing. Now of course they don't change in the sense that prices stop going up and down, but they do change in the overall flow and movements. Because of this, one strategy could be working very well to only begin to suffer from hiccups and dynamics that were not experienced before. I will admit this is hard to explain using words; however, thanks to our community member Jason, we have a real life explanation of how this works in the real world. Jason is still battling and learning about the markets, but he's now at a point where he is realizing he needs to readjust himself to this new market we seem to me transitioning into. There's no doubt that Jason has done some things that many of you can relate to, or better yet, can avoid doing yourself and saving yourself the headaches they cause. Let's get to it!

We've all been there, or who knows, maybe you are there right now? A place where you are not quite a brand new beginner to the world of trading; however, nowhere close to having maximum confidence in your trading system and strategy. It's a gray area that everyone must go through in order to achieve their goals, and in this episode, we have a great illustration of what that gray area looks like. I get it, me saying "gray area" are just words, but thanks to our guest, Bobby, we get to hear and understand what these words actually translate to into the real world. Bobby has had some success and is very enthusiastic about this passion known as trading, but he's still got work to do in order to nail down the things that will lead him to confidence, clarity and then consistency.

If there is one potential pitfall that all of us traders need to always be aware of, it is this: pressure! I get it (and while true), pressure can help build character and make us better in many areas of life; however, when it comes to trading it can do a whole lot of damage. Thanks to follow member, Donnie, being open and honest about his trading journey so far, we have a fantastic real life example of just how pressure continues to creep in to throw off his goals. If you are someone who is struggling with your trading and just can't quite seem to "put it all together" and produce consistent results, I'd be willing to bet you can relate to several of Donnie's talking points. Let's get to it!

One impression of the markets I have seen come up over and over again is that you need to be rich and loving taking all kinds of risks. In other words, the stock market is only for rich people who love to gamble and take on risk. Who knows, perhaps you are thinking this way right now as you read this? If you do have this impression, hey.. you're not alone! In fact, my guest from the community Joseph was no different. He had a very limited understanding of the stock market and needless to say, had many false assumptions about it. Where did Joseph's journey go from a starting point that was so shaky? Well, a small spoiler, it went all over the place and there are nuggets of wisdom scattered throughout! I really enjoyed this talk and Joseph showed up with notes, so he takes us on a nicely structured journey that we can all learn from!

There are many situations in the world that create a sense of pressure. In my personal experience (and I'm guessing yours too), one of the most unique situations of feeling pressure is within the realm of trading. It's hard to explain to someone who has never risked their own money, but there is a very REAL sense of pressure that arises during a trade. It doesn't matter what you're trading: stocks, options, crypto, futures, forex, etc., the biological feeling is the same. I've become much better at this over the years; however, I think if any trader is being honest, they'll admit that there is always this sense of pressure lurking in the shadows in the life of a trader. This brings about the question, how can we remain calm in the face of this pressure? Is there anything we can do to fight back against "the voices" that accompany this biological situation. I've been doing some research and found some very interesting studies and suggestions within the world of science and psychology that I want to share with you. Let's get to it and learn some tips and tricks on how to remain calm during a trade!

Are you someone who is interested in the markets and learning how to make money, but you don't think you have the required time? You will without doubt find great value in this discussion! I can't think of anyone who is busier than a full time mom (who also works a part time job) and that's our guests situation. Fellow community member Locksley shares her journey through the markets and gives us all fantastic motivation and insight into how, despite an apparent time crunch, so much can still be accomplished! For you guys' out there, this is certainly an episode to have your wife listen to as Locksley has a big passion for getting other women involved in the markets. Whether you are male or female, one thing is for sure, this is a discussion filled with many nuggets of information that can (and should) be considered in your own personal trading journey. Let's get to it!

Wow. That's really all I can say. Can you image looking at your bank accounts and seeing that your net worth is, quite literally, negative $11? I'll be honest. I'm not quite sure I can imagine being in that situation. When you talk about "bottom of the barrel" situations, this episodes guest, Carducci, may take the award. That's where he found himself though, a depressing situation where he had nothing. Here's a minor spoiler, it is NOT his situation any longer. What did he do to turn things around? What kinds of choices did he need to make? We get into that and a whole lot more in regards to his trading which has been going very well. Carducci is a great example of someone who punches excuses in the face, but also is willing to do the "less flashy" styles of trading as he talks about. As you'll see though, just because a trading asset and strategy is not all flashy does not mean it can't be profitable. Let's go!

It will happen. I don't now when, I don't know what will cause it, but it's going to happen to you at some point in your trading journey. This event? The day of reckoning. The day where you will need to truly look into the mirror and make that ultimate decision of "what's next?" It's not a pleasant time, but I feel as though it is something that needs to happen in order to determine the viability of a trader's approach and journey. In this episode I welcome back fellow member Joey (chatroom alias being "joeye") to get an update on his trading journey. Joey originally turned $500 into over $25,000 but wanted to come back and share his results and journey through 2020 as he thought it could help other traders. I can confirm his thoughts, his experience will, without question, help you out as a trader. Let's get to it!

These are some of the best episodes I can offer. In my mind, there is nothing more powerful than talking with someone who has a roadblock that needs to be overcome, yet, instead of complaining about it and using it to come up with excuses, they rise to the occasion and overcome it! I understand. I really do. Sometimes life gets hard and can throw obstacles your way, but when you're willing to do what it takes, those obstacles can be plowed right through. My guest in this episode, Alden, has some unique hurdles that he has not allowed to hamper his goals of trading and making money in the market. In fact, he is in a super unique spot that I don't want to disclose here as it will spoil some parts of our discussion. So all I can really say is, "if Alden can be doing it in his situation, why can't you??" Let's go!

If you're not aware, things in the stock market have been absolutely nuts and in may ways, historic. I realize that there have been many other crazy times throughout the history of the stock market; however, this current period we are in is certainly something that has never been seen before. In fact, I am willing to go as far as calling it an entirely new market with some massive changes. I do still wonder about a few dynamics and how it'll play out, and I want to give my thoughts and walk you through what has been going on and how you can position yourself to benefit from it. Whether you are a trader with lots of experience or someone who is just getting started, this is an episode for you to keep you on the cutting edge of the market itself.

Let me first say this. I have nothing but respect and admiration for this episode's guest. He could have hid in the shadows and kept to himself. In fact, that would have been the easy choice to make. Instead, long time member of the community, Brian, volunteered to share his story of many mistakes. The most cost effective way to learn is to identify mistakes others have made, and then avoid those mistakes. Thanks to Brain you will get a goldmine of mistakes that, if you avoid, will automatically put you in a much better position as a trader. Don't let Brian's willingness to share his mistakes go to waste by not adhering to his mistakes and warnings. Let's get to it!

If you have zero fear in your pursuit of learning how to trade the markets, you have a problem! To be fair, in some situations fear is not a good emotion to experience; however, in other situations, I would argue it is a requirement if you want a chance at long term success! Thanks to our guest, Sylvain, we have an awesome look into how "fear" can be established and the self-awareness it requires. In all actuality, Sylvain didn't have that rough of a start, in fact, he had an awesome initial part of his journey. This is what makes his story so motivating and educational though. He could have gone down so many bad pathways, but he didn't. He chose the right path and he's truly now setting himself up for long lasting success. Let's get to it!

It's one thing to "talk" about taking the needed actions to become a better trader; however, it is a whole other situation so "do" the actions. In this episode we have a trader who is sick and tired of their results and is now ready to step up and do anything and everything to hold themselves accountable. Long time member of our community, Walter, is not new to the markets. In fact, he has quite the track record of experience in the markets. The problem is, he is not happy at all with the results and has recently have some revelations that have opened his eyes to needing to finally take those steps to put himself in the best possible spot to succeed. I absolutely love the self accountability that is taking place here and I'm happy to assist along the way. If you are in need of an extra boost of motivation and self awareness, you'll get plenty of that here with Walter. Let's get to it!

I know. I get it. I really do! The financial markets are an amazing place where you can make lots of money all from the comfort of your own home or wherever you have internet access. The problem with that is, in the vast majority of situations, the person is rushing things and it ends up costing them much larger than had they "tip toed" in. We have a great example of this with our guest today, Luke (alias "MTJ2" in the chatroom). Luke was kind enough to join us all the way from the UK and being a younger guy, I found him to be a great example for many other younger traders in the world. Sure, he's not making millions of dollars, but what he is doing is what actually is the wise move. I enjoyed this conversation very much so let's get to it!

If there is only one thing that all traders can agree and relate to, I think it would be the emotion of frustration! I'm well aware that the slogan of claytrader.com is "trade without emotion", but wow, to be fully transparent, frustration is a constant battle for me. Can you relate? Have you ever had frustration arise in one way or another within your trading journey? If you can answer 'yes', then this is an episode you'll want to make time for. I did some research on the science of frustration and it's amazing how much research there is available. I also found a quality article that not only summarizes much of this research, but also maps out the tips in a very easy to read and understand format. Let's all remove as many barriers as we can and learn about how frustration works within the mind and how we can overcome it using science!

We did it! We made it to episode 300! First off, a big thank you to all of you loyal listeners. Without your support, this show would have drifted off into the shadows many years ago; however, here we are 300 episodes later and still going strong! Second off, to all of you community members who have volunteered your time to share your story (whether good or bad), a massive thank you! Your willingness to share your story has positively impacted the trading journeys of people around the globe. On that note, for this special episode I've brought back three former guests who I personally admire and respect for a variety of reasons. Sure, they're solid traders, but I'd argue they're even more solid in their approach and attitude to life in general. We do talk quite a bit about trading, but we also touch on various areas of life that I firmly believe can help you achieve your goals, whatever they may be. If you are someone who is willing to do what needs to be done in order to "get it done", then there is no question you'll find several nuggets of wisdom on this episode. Let's get to it!

The most common dream I come across from people getting involved in trading and the markets has nothing to do with fancy cars or Rolex watches. It has to do with freedom of time and the ability to control their schedule as they see fit. In other words, they want to quit their 9-5 job and become a full time trader. In this episode I welcome back fellow member Johnny who was just on the show a few months ago. There's a big difference however at this point in Johnny's journey that he was kind enough to update us on: he's quit his job and is now a full time trader! In this episode we talk about those final decisions that went into quitting his day job and then do a deep dive into what is like to be a full time trader and how it has all been going so far. If you have goals of quitting your job and working for yourself as a trader, this is an episode for you!

There is nothing better than talking to someone who has no problem doing what needs to be done and finding opportunity. As a business owner myself and someone who firmly believes in creating multiple streams of income, it's always motivating and inspiring to talk to someone cut from the same clothe. In this episode I welcome back long time member Geoff ('crestronwizard' in chatroom) for this third appearance on the show. He has not been in the market recently due to his extremely successful business he started; however, as he is now making plans to get back into making money from the markets, he was willing to swing by and update us all on his plan of attack moving forward. If you are someone who has a full time job and is wondering how you can still get involved in the markets, we talk about strategies to accomplish just that. There is truly something for everyone, so let's get to it!

I'm going international in this episode to welcome back long time member Nariman. Fair warning, if you are someone who enjoys looking for excuses and reasons on why you are not able to accomplish a goal or task, you will not like this episode or guest in the least. If you are someone who believes that "iron sharpens iron" and are in constant search of motivation and inspiration (no matter the person's age), then you'll love this discussion. Nariman is a busy guy who is in school; however, he's also a perfect example of just how powerful swing trading options can be for someone with a busy schedule. We talk about his strategy in particular and how options can be a perfect fit for someone with a full time job. Let's get to it!

I love simplicity. When things are simple, they're so much easier to put into motion and benefit from. In this episode I talk some SIMPLE science that can truly help us become better traders. Here's the best part about it all. Not only is the science simple, the way to "make it happen" is something that every single person who listens to this episode can do! I'm still amazed at how some of the most simple things in life, that we've all probably heard about at one time or another, are things that can serve as trading hacks to make us better. The best part about all of this is that when you pursue this science strategy in the name of "making yourself a better trader" it will positively affect many other areas of your life! Let's talk some science that will not only help us be better traders, but make us better in many areas of life! sources: https://www.cnbc.com/2020/07/29/people-who-live-100-longer-share-this-hobby-longevity-experts-say-it-can-add-years-to-life.html

Why is being a trader so hard? One of the most glaring issues is how the markets take personality traits, such as being ambitious, and totally twist them around and use them against the trader. Thanks to the openness of our guest, Harmon (his 2nd appearance on the show), we see how this cruel trick manifests itself within the market. Harmon is currently going through a rough patch within his trading; however, he's not giving up and he's paying attention to all the data which is helping him nail down the areas of his trading that need to be corrected. The human mind can be a cruel and crazy place and you'll see exactly what I mean with our conversation. There is something for everyone in this discussion, including me, so sit back and let's all do some learning together!

I love the people I talk to on this show. I truly do. People are not trying to portray themselves as something they're not. In fact, the exact opposite happens. People are being brutally upfront about their journeys so that we can all benefit from it. In this episode, I talk with fellow member Kelly about this journey and how he has ended up in a place he doesn't want to be, but needs to be. What is this place? TIMEOUT. Just as you would discipline a child with putting them in timeout, we as traders sometimes need to do the exact same thing. It does not make you a bad trader at all! I would argue it makes you a self-aware trader who is treating trading as a business and taking it all as serious as it should be. How did Kelly end up in timeout? What is he working on correcting? We go into that and a whole lot more!

An often times overlooked part of successful trading is the needed skill and understanding of money management. You can be firing on all cylinders in all other areas of your trading; however, if your money management is not fully under control, everything else will come to a screeching halt. I welcome back long-time member, “Mico” (same name in chatroom), to hear about his continued journey. As is the case with any trader, things have not been a smooth ride… spoiler alert: he blew up an account since his last appearance on the show, but he didn’t give up and stayed strong to correct some issues. What were the issues? How did he correct them? We talk about that and much more, so let’s get to it!

The financial markets are a massive place where the sky is the limit in terms of your upside potential. In this episode I talk to fellow member Austin who is a shining example of just how much potential exists. What could you do with $130,000 in only one month? Crazy and motivating all at the same time. However, the value in our discussion is found within learning about what he experienced on the way to those profits. What were his struggles? What were his tactics he used to learn? What are some of the mental tricks he uses to manage risk? We cover all of these topics along with much more! Austin is doing an awesome job these days, but it was a very bumpy ride at first, so if you're ready for some nuggets of wisdom, then let's go!

I wanted to take a step back from the normal format of the show to bring to your attention a situation that 100% pertains to the world of "trading". As citizens of the USA, you know we have an election coming soon. While I may disagree with who you vote for, I can respect it and hopefully we can all agree on the central idea that "being educated about policy" is a worthwhile effort. If you are a trader or have ambitions of becoming a trader, no matter your account size, this is a policy that needs to be factored into your voter analysis. No worries, this is not some hour long podcast where I "get political", it's simply an episode with the goal being to give you information that you can then use in your "who I'm gonna vote for" analysis. Let's get to it!

It's amazing how a single three letter word can make such a difference. When you look at life through the lens of "how", it opens up so many more potential opportunities for yourself. My guest from the community, Judd ("juddw" in the chatroom), is a shining example of just how powerful the word "how" can be. It has already served him well with life in general, but it continues to serve him nicely with his trading journey. Judd has been swing trading now for an extended period of time with success, but for the sake of establishing more income streams, he has since turned his focus to learning the skill of day trading. Judd and I talk about a variety of items, all of which can be (and should be) applied to your approach to trading and life in general. Let's go!

The human mind is an awesome place... well... assuming it is being operated under the right circumstances and structure. What do I mean? The Near Miss Effect has been researched and studied quite significantly in the world of science and psychology and "why it exists" is actually pretty great. The downside is, it can turn into a savage and counterproductive mechanism to work against our goals is we are not aware of it. Given I have been working with traders since 2013 and combing that with the countless customer service interactions I've had, I can say with full authority and confidence that this "effect" is alive and well in the world of the financial markets. The question truly boils down to your understanding of it and whether you are using The Near Miss Effect to help or hurt your trading ambitions. Let's do some science!

In my mind, there is nothing more inspiring than a younger person doing what they need to do in order to complete the mission. My guest, Anton from the community, has been a hustler and grinder since age 12. How much of a hustler and grinder? How about $50,000 sitting in his bank account by the age of 21... not $50,000 of debt, $50,000 of cash! If that doesn't get you inspired and motivated, I don't know what will. With all that being said, as ambitious of a person as Anton is, the market has been a huge battle for him. It's a great thing to be ambitious, but sometimes the market will use that attribute against you and cause heartache. As a minor spoiler, Anton has battled the markets to become a consistently profitable trader, although, I'll just say this... "all it takes is one"... let's get to it!

I welcome back fellow member Ken ("gaingreens" in the chatroom community) to get an update on his trading journey. The last time we spoke was before the world went crazy with covid, so needless to say, much has changed for Ken in his personal life which of course affected his trading. How was his trading affected and what did he learn from it? Even more important, what solutions did he put into place to alleviate the issues that were arising? One of Ken's biggest strengths I observed in listening was his self-awareness where he looked to blame no one but himself. This is powerful because when YOU blame yourself has the problem, YOU are also the solution to the problem. Ken is doing very well right now and he shares with us some of those "fixes" that got him to where he is.

It's time to toughen up! If you want to survive in the financial markets, a "must have" requirement is being able to have thick skin. If you are someone who is easily offended or has an ego so big that as soon as someone says something that pricks it, stay away! My guest from the community, Marcus, is a shining example of exactly why this is the case. He's been through a lot and his journey has spanned several years, but he's hustling and grinding his way not only through trading, but life. From my observation in talking with him, a huge reason why he has been able to "own life" and "make things" happen is due to his thick skin. It has so far and will continue to benefit him in the savage world of the financial markets. In other words, he has a lot to offer to those people that listen with an open mind. Let's get to it!

He's back. Long time member and one of the first five guest I ever talked to on the podcast, Richard (better known as "RDTrader" in the community), is here to update us on his continued journey in the markets. Per usual we go down some deep rabbit holes that I'm confident everyone can benefit from. Even if you have years of experience, there is nothing more powerful than "being reminded" of certain pitfalls in the market, and you'll certainly be reminded! For those of you that are new and just getting started, we talk about several tips and tricks you should consider implementing as a trader in order to give yourself a better chance at success. We also talk about the anatomy of his recent $18,000 in a single month of trading, what he learned from it, and how he made it happen. This will make more sense after listening, but please... if you want to have success and stay consistent: plant your flag!!!

I'll be the first to admit, I had no idea there was such a science to learning. I think most of us realize that learning is important and something that needs to be taken seriously; however, when it comes to "how" to take it seriously, that's where many (myself included) get lost. Whether you are wanting to learn how to trade or build a birdhouse, I think it's safe to assume you want to learn as quickly as possible and adapt to whatever is thrown your way. I did some research on learning and found an article that scientifically cites 10 dynamics that occur within our brains that can either help or hinder us in our learning ambitions. Here's a spoiler... according to the science, watching random and hours upon hours of YouTube videos just is not going to help you much. Let me walk you through some steps and decisions you can make to assist you in your learning ambitions. Article Talked About - see it HERE

What a great discussion this was! If you're looking to pick up some nuggets of wisdom from someone else's experience, look no further. I welcome back fellow member Matt ("msouza" alias in chatroom) to give us an update on his journey. Needless to say, it's been a wild ride of stupidity and pain, but hey... if we're honest with ourselves, we've all been there! Matt has made quite a few changes in his trading but most importantly, he's experienced some "stress testing" of those changes to see just how well his psychology holds up. It's one thing to make money, but it's a whole other thing to lose money within your strategy and see how you react to it. This discussion is filled with candor and honesty and I know for sure, no matter your experience level, there will be something you walk away with that makes you a better prepared trader. Let's go!

Becoming your own boss as you take that step into trading full time is a dream that many people have. Does it need to be the end goal? It does not. In many cases, using trading as a way to diversify your streams of income is more than wise; however, for our fellow community member Johnny, this is what he wanted. He follows the trend of many people in his situation. He never really had the initial goal to "go full time", he just wanted to get involved in trading to create a bit more cash for himself. After jumping in with both feet and putting in the required time and energy of studying and learning, Johnny realized just how much potential the market offers. This potential does not come easy and it does not happen overnight, but it is there and for those who want to make the effort, can be firmly grasped. Let's learn about Johnny and his journey of grasping the freedom trading allows for!

I'm sure you've heard the saying, "when it rains it pours" and that's what happened to our long time member and guest, Pendar. I have nothing but respect for these kinds of people who get slammed in the face with a sledge hammer from life, but keep on grinding. As mentioned, Pendar has been a community member for several years now and reached out to me wanting to be a guest so he could update the community on his situation, but with a twist. He wanted to really focus on all the dumb things he has done and what needs to be avoided. In this day and age of social media and everyone parading around like they have life (trading) figured out, it was a total breath of fresh air to see the more realistic and darker side of trading. Pendar is making no excuses, he's not blaming anyone, he's just doing what he needs to do to make it happen, so I'm confident you'll get some great nuggets of wisdom.

When you see potential in someone, one of the most impolite things you can do is to "beat around the bush" and not be blunt. We have a case of that here with community member Luis. As you'll see, the conversation starts off a bit rough as I questioned him and pressed him on certain areas of his journey. While it may have come across as rough around the edges, it was all being done because Luis has great potential and I didn't want to see one of the typical traps grab him. All in all though, Luis is a great guy and while he certainly still has work to do and things to improve on, he's also doing many things very well! Luis is only 19, so for you younger listeners out there, you'll get that much more motivation and inspiration from his journey.

I love me some science and psychology! I stumbled across an "effect" in the world of psychology and did more research on it... and wow, all I can say is it 100% (probably even more) applies to all of us in the challenging world of trading. In fact, it's a phenomenon where if you are being honest with yourself, it has happened to you or who knows, may be happening right now. To clarity, just because there has been money spent at a university to do research and study a topic does not mean you should blindly accept the results of it; however, given I've been around since 2013 and have interacted with 1,000's of people at this point, I can say with full certainty that this "effect" is alive and well within the financial markets. I learned a ton from it and I'm confident you will too, so let's get to it and talk some science and trading!

If there is one word that I think most new traders can relate to, it would be "randomness". When you are new and don't know what you don't know, everything can quickly become overwhelming because it all feels so random. This of course leads us on a bumpy road filled with twists and turns. This was the exact case for my guest, Andrew ("Kaizen" chatroom alias in community). To his credit, despite all the twists and turns, he stuck with it and then eventually stumbled into his "game changer" moment which has truly shifted his confidence and approach to the markets. As someone with a full time job, he is now able to trade the markets in a way that gives him great flexibility and true control. If you are someone who also works a full time job, but would like to "be a day trader", this episode is definitely for you! Let's get to it.

Brutal. That's really all I can think of to describe how this journey began. The thing is, it all started off with scoring an $8,000 win in one of his first trades. From that point? Well... not good! I had a great chat with fellow member from the community, Michael, about his journey and he held nothing back. Because of this brutal opening experience within his journey, in my opinion at least, he has established himself as an authority give advice for certain trading behaviors. When you are punched in the face several times, you may not be a professional boxer; however, you certainly can share some wisdom and advice when it comes to "getting punched in the face", and that's what we have here. Let's get to it!

When it comes to trading success (and in most areas of life), having patience is a big requirement needed. However, there are definitely some areas within trading where impatience can work in your advantage and once you realize this, good things can begin to happen! My guest from the community, Matt, shares his journey with us which started off in a very rough (and as he disclosed, "embarrassing") way. How did Matt recover from this train wreck of a start? What choices and maneuvers did he make to try and get the train back on the tracks? Matt was brutally upfront and honest in his mistakes, which serves up all kinds of valuable learning insights, so stick around for the whole thing and I know you'll walk away prepared to be a better trader!

Buckle up and get ready to do a deep dive into the human mind and the world of human emotions. Especially for us men, talking about our feelings and emotions is probably not at the top of our list of favorite things; however, as you will see within this conversation, it is a critical consideration that needs to be addressed. I had a great talk with long time member Nick ("KillerSwan" in the community) where he held nothing back and allowed us all into his journey, particularly his struggles. The back half of the conversation essentially turned into a coaching session and while it was unique to his situation, I am VERY confident there will be several talking points that you will be able to relate to. Let's do some learning!

One of the more common questions (and complaints) I see is people not having as much money as they'd like to have in their trading account. I have some great news though! Whether you want the responsibility or not, it doesn’t matter. The fact is this: YOU (yes you!) are a business owner and CEO. You might not think so given you don’t run a company that offers a product or service; however, this is a false understanding of reality. The reality of the matter is you 100% “do” offer a service/product and you need to make sure it is worth as much as possible. All successful people are great at operating this area of their life and I want you to do the same! Let’s discuss how you can run your business at maximum productivity.

Time horizons matter quite a bit in the world of trading. Time can get a bit tricky when it comes to trading unfortunately; sure, you don't want to be wasting your time but at the same time, you don't want to be rushing either. My guest from the community, Kenneth, gives us a great illustration of somehow who is approaching trading in a time efficient manner, but not rushing. When you choose to take certain steps and surround yourself with the infrastructure Kenneth has, while there are no guarantees, there is the higher probabilities that you will find success. Kenneth is still young in his journey, but his focus on setting himself up for long lasting success offers us all with some great motivation and insights.

Trading and investing can be a very emotional game. If you've ever had a single dollar of your own hard earned money in the markets, you know exactly what I mean. This leads to the next logical question, "what can be done to remove the emotion?" There is certainly no perfect system to do it, but one way is to get so focused on the numbers and data, you almost forget to have emotion. In this episode I welcome back fellow member Sean who is all about the data. To his credit though, he admits that even with a massive deep dive into the data, there can still be hiccups that arise. I enjoyed this talk and I'm sure you will too. Sean had no problems talking about his hiccups and (most importantly) what he learned from them. Let's get to it.

DO something! That's all I ask! Whether it has to do with trading the markets or not, it's amazing how when you simply "do", good things begin to happen. Add in an underlying plan with "do", and WOW... things can get extremely explosive (to the upside!). This week's guest, Davy, is a new member to the community but he sure did get me motivated. The opening part of the discussion was my favorite as he walks us through his opening journey. He actually never mentioned "the stock market" until about 15 minutes in, but the story he told beforehand is what success is all about. Grabbing your bootstraps, putting on the hard hat, and going out and "doing". If you're someone who enjoys using excuses and playing the victim card, this episode will not be for you, but if you're a hustler... then let's go!

As obvious as it may seem, I've lost track of just how many times I've seen it happen. People put their money into the market, and then upon listening or asking a few basic questions, it becomes very clear they really have no idea "why" they entered a trade. The amateur will answer that by saying, "because I think I will make money"; however, the successful trader will be able to give a much more in-depth reasoning. That's exactly what my guest this week, Amit, shares with me. Like many, he started off doing some silly things with his time and money, but to his credit he has quickly realized he needed to change ways and that's what he's been doing. Let's get to it!

What category would you place yourself into? Are you lucky or unlucky? I stumbled across an interesting scientific research study where a psychologist (support by quite a bit of funding) did a deep dive study of lucky people verses unlucky people. While I can't say the results were stunningly shocking, I can say that there are many nuggets of data that can (and should) be applied to us in the world of trading. To further support the data, thanks for a current event that was playing out at the time of this recording, we can see just how this scientific research showed its truth in a very real world setting. If you like making decisions based in logic and reasoning, then I'm sure you'll be able to walk away with at least a few bits of practical wisdom. Let's get to it!

Wins are overrated. Winning streaks are even more dumb! What do I mean? You can have multiple winners and be making all kinds of money; however, that tells you nothing about the viability of your strategy and system. The only way to know if you have a strategy that "actually works" is to take some punches. If you take punches and you're account is still green and trending upwards, this is when you should be forming and maintaining confidence. Yes, I realize right now all I'm doing is talking in theory, but my guest from the community Matt ("msozua" chatroom alias) helps bring this topic into reality in a very motivating way. He started out with a single punch knocking him out, but he's grown very much since then and he's surviving and thriving.

If you would consider yourself someone who enjoys "dabbling" into areas of life, I'm very confident you'll be able to connect with my guest in this week's episode. With that being said, even if you are someone who "goes all in" from the start, there are many nuggets of wisdom (and warning) that you'll be able to take away from this guest's journey... which has been a long one! We'll be covering a 15ish year timespan with our guest David, a long time member of our trading community. Throughout the years David has had to constantly weigh the pros-and-cons of trading given his success and growth through is normal "day job". This has been a very wise move on David's part; however, as we come to present day David has made some big changes and he's already seeing the results from them. Let's go!

Randomness, like with most things in life, will destroy any kind of trading ambitions you may have. Whether it's from my own personal experience or from the countless stories I've heard from others, when randomness creeps into the journey.... things get bad! My guest, Eric ("E" in the chatroom), is taking the exact opposite approach of randomness. For full disclosure's sake, his current approach is by no means exciting and adrenaline filled like a roller coaster, but that's the goal! He's taking his trading in a very serious and methodical way. Whether you are brand new to the markets or have experience, but maybe struggling, there are some valuable insights into some ideas that may assist you in your journey. Let's get to it!

While it certainly is not the glamorous pathway to take, sometimes the best solution for problems is to take a step back and put yourself through unfavorable steps. I welcome back long time member Kainoa and he updates us on everything that has been occurring in his journey. As a small spoiler, he has had to make some tough decisions over the past couple of years that were not easy or enjoyable; however, as you will see, they have proven to be the wise actions to take. I really enjoyed this conversation as it does a great job of illustrating (and hopefully reassuring some of you) that there is no shame in hitting the pause button and reevaluating your current location in your trading journey. Hitting the pause button and "doing what needs to be done" is not always going to be rainbows and butterflies, but if you want success it's what needs to be done.

I came across an article that talks about a way of thinking that has been around for 2,000 year and is used by some of the world's brightest. While I don't believe in ever blindly following someone because they are smart/successful, I do believe it is wise to at least listen to and consider what the person is saying. Given I've been coaching and guiding traders since 2013, I can say with full certainty that this "powerful way of thinking is not being put into motion, and it SHOULD BE! I'm just as guilty as anyone else for not using this way of thinking, so no judgements from me! I want to apply this "thinking strategy" to the world of trading so you can see the true building block of what all successful traders build from. Let's get to it!

It truly is amazing just how powerful blaming the person in the mirror can be when it comes to your struggles and failures. I truly understand... blaming yourself for failures is not an enjoyable situation and no one likes to do it; however, there is freedom when you swallow the ego and blame yourself. My guest today from the community, Joey, started off about as bad as you possibly can. In fact, I called him a degenerate gambler to his face and he fully agreed with me. The crazy part though is how he transformed from a degenerate gambler to someone who is now consistently growing his account. So far, he's gone from $150 to $25,000 and it continues to grow. Thanks to his honesty and transparency, Joey shares many experiences that present fantastic nuggets of wisdom. Let's get to it!

While I can't say it is the top issue debated among traders, I can say with full confidence it is easily within the top 3 issues. What is this issue? Is paper trading (demo/simulator trading) worth it? Over the years we have heard both sides of argument on this topic, and to be fair, both sides have made valid points and arguments. My guest from the community in this episode, Joel, shares his journey in a very transparent way that sheds a very raw (and well explained) viewpoint of how not paper trading is dangerous. I realize that we all have varying opinions and experience in regards to this hotly contested issue, so all I ask is you listen with an open mind and be honest with yourself on whether or not you feel like you are on the same pathway Joel was....

If you have even a shred of trading experience with real money, then I'm sure you are well aware of the fact that we all have mental demons we need to fight against. Trading is an extremely mentally challenging business and it truly is filled with demons that need to be acknowledged and then punched in the face! In this episode, I welcome back long time member Donald ('speedster' in the chatroom community) to update us on his journey. Donald has made a whole lot of progress, but to his credit, he's also very aware of the bad tendencies that have the potential of creating problems within his trading. I really respected (and personally benefited from) Donald's self awareness and how he is by no means being dishonest with himself. He's focused on improving and making huge strides while also punching the demons in the face. Let's get to it!

I've had some people ask about my thoughts, but to be honest, another part of this is me just being sick-and-tired of all the media manufactured drama. I want to give you my thoughts on the stock market and how I am approaching the situation. Let’s take a breath and walk through all of this in a slow, calm, and calculated way by using logic and a bit of common sense. What am I doing as the stock market crash and why? Let’s talk about it.

Passion can be a powerful thing. In this case, it lead our guest Mitch to hijack his brother's social security number so he could open a trading account while still in high school. While I certainly do not advise or support hijacking anyone's social security number, I do love the underlying attitude of Mitch just doing what needs to be done to "make things happen". Now sure, there were much better ways he could have gone about it, but the will power and desire were there to succeed. Mitch is currently only 21; however, because he started so early in life he's already got quite the story to tell. So buckle up and let's get to it.

Courage. If I were forced to summarize this episode in one word, that's what I would use. My guest today is back for the third time and wow... he did some really dumb things, but you know what? We all have! The difference is Hamlet has enough courage to publicly talk about it so that others have the opportunity to learn and not repeat the mistakes he found himself doing. This is one of those interviews where if you take serious what is talked about, you can make a whole lot of money by simply learning what to avoid in the first place. A penny saved is a penny earned and if you heed the warnings Hamlet gives, you'll be thankful that you did. Buckle up. It's about to get bumpy!

Who remembers dial up internet? Can you imagine trying to trade with it? Needless to say, us traders now-a-days sure do take a lot for granted. My guest from the community, Roger, began his trading journey back when the internet was becoming more and more mainstream. Roger has over two decades of experience in the market and he shares it all with us. A portion of that experience was not exactly the pleasant kind, but Roger shares the downs and what he learned from them. Specifically, he discusses the problems he had to admit to himself and the decisions he made that provided a solution. Roger has now been trading consistently and successfully for six years now despite having a full time job. If you are someone with a full time job but also wants to create another source of income, Roger is your guy! Let's go!

I came across an article recently which centered around "mental traps" that successful people don't allow themselves to fall into. While the article is not about trading in particular, the science based observations and discoveries 100% can be applied to us as traders. If you are new to trading you many not realize just how big of a mental challenge it is, so whenever you can get insight into how the human mind (and emotions) work, you can be better prepared to guard yourself. As many of you can relate to, the minute you let your guard down within your mind is the minute problems and mistakes will show up in your trading results. Let's use some science to help make keeping up our guards as strong as possible!

I love it! We now have yet another data point in regards to people "finding a way" rather than "finding an excuse". My guest today, Jermaine, grew up in Jamaica and immigrated to the USA and had to hustle and grind to get to where he is today. This includes working multiple jobs and my favorite part, in Jermaine's words... "living aggressively". I'm well aware that many gurus/teachers/mentors focus on selling the dream, we're not going to do that. In this discussion we will be digging deep into exactly why it is so important for you to have a passion for the market... because yeah, things are not always rainbows and butterflies.

As traders we should love the fact that we can not control how high a price rises. Why? Well, that means we can not control how much money we make in a trade! How cool is that? We have a perfect example of this principle with fellow member Orval (better known as 'Sandman' in the community). Orval updates us on his journey which has improved dramatically since the last time he was on the show. It's been a journey of hard work, dedication and consistency, but the time has been worth it. Orval has fully transitioned from paper trading to real money trading and yeah... I don't want to ruin anything, but so far so good! Let's get to it!

I'm pretty sure there is no one better prepared to become a trader than those who have military experience. In this day and age where people too easily get their feelings hurt, it's nice to be able to be blunt with someone and have them simply say, "thanks". If you are newer to the markets and looking at what it takes to actually be a good "learner", then look no further. My guest, Chad ('iamavol' in chatroom) has a military background and this has served him well so far. He's not trading with any huge amounts of money, but he's doing things the right way. He is starting small and then building from that point by focusing on good habits and scaling. Chad's certainly done some boneheaded mistakes as he'll discuss, and thanks to his openness, there are some great learning opportunities for us all.

This discussion is why I have a very hard time finding pity for people who seem to throw out excuses like candy. When you have a passion and drive for something, much is possible even when you may have many other "things" occurring. Community member Harmon tells us about his journey so far and how he's been able to get involved in the markets even while being a college student (along with a whole lot more). He had some misjudgments at the start of the journey that we talk about, but that's normal... the key is acknowledging them and then making adjustments. What adjustments needed to be made? How is his newly started live trading going? We talk about that and much more!

I'll be the first to admit the markets are an awesome place with oh so much potential and opportunity! The problem with this fact is it causes way too many people to rush in and get slaughtered. While there is no such thing as a perfect entry into the market, my guest from the community, Ken ('gaingreen' in the chatroom), walks us through his journey thus far. We once again have another encounter with Robinhood and how in all actuality, they're quite the savage company. Ken learned some valuable lessons upfront and has since gone about his approach to the markets and learning in a much more methodical way. I really enjoyed Ken's perspective on the markets (and life in general) and I'm sure you will too!

Have you ever done anything that when you look back on it in hindsight all you can say is, "what was I thinking?!?!"... I know I have! The financial markets truly are an amazing place filled with opportunity in almost all directions. The problem is, when you are new and ambitious... the ambition will be used against you in ways that make money for other people. My guest from the community, Kevin, talks all about his starting days with the "trading" app Robinhood and how it turned into a meat grinder of his money. Needless to say, it was a very rough start; however, to Kevin's credit he has not given up and has now put a new plan into motion. As the saying goes, it's not how you start, but how you finish and Kevin is well on his way to finishing strong. Let's get to it!

I'm aware. The title of this episode may seem like clickbait. I mean, how could making $500 be attributed to ruining someone's mind? It would seem that making money is a good thing; however, in this case it was the absolute worst result that could have happened. My guest, Jacob ("farmerj" in the chatroom), takes us through a very crazy journey that as one point reached him only being happy if he made $1,000 per day. How can someone reach this point? All I can say is the human mind is a crazy place and if you're not aware of the games it can play with you, you are at risk. His journey has been a wild ride and I enjoyed hearing about every minute of it (and so will you!). Let's get to it!

If I lost it all and had $0 to my name and needed to start all over… what would I do? There is a huge opportunity out there right now that could make you up to (maybe more) $65 per hour. Let’s talk about it.

Is this you? You have a smaller account and want to get started trading the markets. Because of the annoying pattern day trader rule (PDT) and the fact you have a smaller account, you automatically assume you need to focus on small caps (penny stocks) in order to have a chance at success. While there was a lot of truth to this in past years, due to some recent changes in the futures market, this thought process is no longer valid. My guest from the community, Heath, discusses his trading journey that walks us through this exact thought process and journey. Heath was very transparent about his journey and the headaches he has gone through in order to get to where he is now... a much more viable place to actually find trading consistency. This is a discussion filled with goodies so let's get to it!

Warren Buffet’s secretary pays higher taxes than he does? Have you ever heard this before? I know I have. There was just a newly released proposal to address this issue and I want to take a deeper look into how all this works. It may surprise you (sarcasm font), but politicians on both sides of the aisle misrepresent issues and how they “actually” work. What does any of this have to do with trading? Well… in all actuality, this is a topic and proposal that directly affects us all as traders in the market. In fact, I can’t think of another issue out there that more directly “hits home” than this potential policy. I’m not here to side with one opinion over another, but I do believe it is an issue that all of us in the markets should fully understand and be able to explain to someone else. Let’s take a look at this…

Solutions. Problems are easy to find and focus on, but solutions…. that is where the real magic happens. The issue with solutions is sometimes they are not pleasant or want to admit needs to be focused on. However, as you’re about to see with our guest in this episode, if you just suck it up and do what needs to be done, the results can increase your pathway to success that much quicker. I welcome back longtime member Tony (chatroom alias ‘TWDT’) and while we do talk about his trading journey, we also talk extensively about how he decided to focus on other “things” that while are not the most exciting, they are extremely beneficial within all walks of life. This is one of those interviews where it may seem “off topic” on the surface, but for many of you (if you’re honest with yourself), I have a sneaky suspicion it may be the exact solution you should be throwing all your energy behind (for the time being). Let’s get to it!

I have no idea if this “emotion” is something all people have, but it’s something I can totally relate with. That feeling being the desire to want to “accomplish something”. It’s hard to assign an exact definition to it, but at the core, it comes from the desire of achievement. Again, I can’t speak for everyone, but those of us who are involved, or thinking of getting started, in the financial markets can more than likely relate. We as traders don’t necessarily get into trading for the glory and riches but for the idea/feeling that we are building something all on our own. In many senses, it’s a form of entrepreneurship. My guest Jason (“Toxic” chatroom alias in community) has gone full bore into this mindset and he takes us on the journey with him. Like many, he’s done some really dumb things and at this point can only laugh at them; however, he’s also made some solid choices that we all can learn from. This has all lead him to the decision to jump in with both feet and give full time trading a try. Let’s get to it!

Let’s go to Australia once again and hear from a community member who sets a great example of what it takes to be a trader. It may not be the prettiest thing, but it’s a real life look into the bumps and grinds that us traders must endure to make it happen. My guest, Dan, is an open book and shares his journey of trading the market and what he has planned for the future. I found his overall attitude and perspective greatly motivating… and to be frank, he says a lot of stuff that many people need to hear! While it might rub some people the wrong way, it’s the truth and how things need to be (assuming you want to find and take hold of success). Let’s get to it!

If you want the maximum value out of this episode, I’d highly recommend you go back and listen to episode 242 first. I wish I could say I had this all pre-planned, but I’m just not that good at my job! I welcome back long time member Jeremy (better known as “Remy” in community) for his 3rd appearance on the show. Jeremy has been crushing it lately and walks me through all the things he needed to admit to himself before making the change to his new and much improved strategy. It’s never easy to admit defeat, but after Jeremey did he was able to expand and explore into various strategies that fit his needs. If you’re looking for a deep dive into the details of taking a broad strategy and then shaping and modeling it into your own personal risk tolerance, then you’ll love our discussion. Let’s get into it. Ready for details? Let’s go!

It’s time to roll our sleeves up and get down and dirty with  the challenges that trading can present. I welcome back long time member and friend, Ben (for those of you in the community, alias “close2pga”) to get an update on his journey. Ben has been struggling and not seeing the results he’d like, so this turns into more of deep dive into his psyche and trying to pinpoint what the problem is, but more important, what the solution is. If you are brand new to trading and have never put real money into the market, this discussion may be a bit over your head; however, if you are someone who has put their hard earned money into the market, then I’m confident you’ll be able to relate in more ways than one to Ben and his challenges. Who knows, maybe “the thing” that has been causing Ben his issues is the one correction you can also make within your trading to turn your results around? This was an awesome discussion and I’m excited to bring it to you! Let’s go!

A positive attitude can take you far in life (and trading) and that’s what we really get to see here. My guest, Homer (fellow member from the community who goes by alias “homercon”) opens up about his journey so far and holds nothing back. I really appreciated how he just told the truths of all the ups and downs he has been through. He’s not a profitable trader… but this is what separates him from many in society who seem to take such a negative out look on things. In his mind, he adds in a single word that changes the landscape. In Homer’s mind, he’s not a profitable trader, YET. The addition of that extra word shines through in Homer’s attitude and perspective and its something that was a breath of fresh air and motivating to me. Let’s get to it!

90% of us as traders have been there, in a hole. Whether it was due to letting emotions get the best of us, not knowing what we were doing, or an honest mistake, we’ve stood at the bottom of a hole and knew we needed to now climb out of it. If you can relate to any of these situations, then you’ll find great value and motivation in my discussion with fellow member George (alias in community, “gvigilgem”). Like the vast majority of traders, his journey started on a very bumpy road that eventually lead him downwards and into a hole. It was at that moment George knew he needed to change his ways, so what choices did he make? What actions did he take? We discuss that and a whole lot more (including how he is now well on his way to almost being OUT of the hole). Let’s get to it!

We are traveling down under for this week’s episode. For the first time ever I speak with a fellow member who is located in Australia! Ron has been trading Forex for quite some time with many ups and downs. Thanks to his honesty, he offers up many opportunities for us all to learn from the mistakes he has made. While he does have experience in Forex, he is also beginning to expand into other areas of the market which we also talk about. I really enjoyed the conversation with Ron and am confident you’ll walk away with some “nuggets of experience” that he shares. Watch out for kangaroos and poisonous spiders, we’re going to Australia! Let’s get to it!

I’m sure I’m not alone when I say it isn’t necessarily enjoyable to receive criticism of ideas, systems or strategies that you have put time and effort into. Criticism is part of life and in all actuality, should be embraced for all of us as traders. According to Ray Dalio (worth billions of dollars), you should view any type of criticism as an opportunity. Through my own personal experience in life and especially in trading, I can attest to the fact that what Ray Dalio says is definitely true in the real world. Criticism may not be pleasant, but it is a valuable opportunity when you have the right attitude and perspective about it.

How would your life be affected if you could pay for something as big as college with trading profits? Knowledge pays. Putting a plan into motion that allows for you to take full advantage of what the market offers, while not happening overnight, is completely possible! I welcome back long time member, Micah, to update us on his journey in the world of trading. He first appeared on the show three years ago, so needless to say, much has happened in his journey since then. Micah is absolutely tearing it up and serves as a great source of motivation and inspiration in regards to what is possible with hard work and dedication. If you’re in need of some inspiration, then look no further. Let’s go!

I’m pretty sure this week’s guest is a long lost brother. When it comes to hustling and finding ways to make money in order to obtain a larger scale goal, Leon (better known as “Blew” in the community) is a monster. Those who enjoy making excuses for everything in life won’t enjoy Leon and his story, but if you are looking for some motivation and inspiration as you continue to grind in your goals, you’re going to love him. Leon works a full time job, so like many of you, his big goal is to best fit trading into his personal work schedule. If you are someone who wants to trade but also have a full time job, Leon has several insights and strategies that you can potentially use in your situation. He’s a man who doesn’t offer up excuses, but simply grinds things out, and this is what it’s all about. Let’s get to it!

One of the most dreaded rules in all of the markets: the pattern day trader rule (“PDT”). A classic example of government regulations thinking they are helping but in all actuality, creating a massive hassle for people. It is what it is, but there is some good news when it comes to this common issue. We welcome back “Reboot” (chatroom alias) to update us on his journey. A large part of his new journey has been escaping and working around the PDT rule. He takes us through all the adjustments and realizations he has made in order to place himself on a pathway to profitability that works for his account size, personal time schedule and overall goals. If you are someone who has a smaller trading account, then there will for sure be some nuggets of wisdom you will walk away with, so let’s get to it!

Those who succeed diversify. In many cases, people hear the word “diversify” and automatically think about diversifying their stock portfolio. This is certainly important and something you should be doing; however, there is also diversification of income streams. The more directions of income you can create for yourself, the more freedom you will experience. As a business owner, our guest Christopher understands this and is currently grinding away to use trading as another source of income. I was certainly inspired by his journey so far (especially as someone who lives in another country) and I’m confident you will be too. It’s time to get out there and focus on multiple streams of income.

Consistency is the magic pill to trading success and this episode’s guest has found that pill. Long time community member, best known as RDTrader12 (“RD”), has gone through many ups and downs in his journey. He’s shared many of them on previous appearances on the show, but now he’s back to give us an update on where he currently is on his journey. Not only do the markets shift, but so does life in general. Because of this, RD had to do some reworking of trade strategies he uses in order to best fit his life. Overall, RD is a shining example of what is possible when you find and establish consistency within your trading. Him and I go down several interesting rabbit holes of topic, so buckle up… it’s going to be a valuable ride!

I love bringing back previous guests to get updated on their journey. In this episode, Carl (who is very active in the chatroom) comes back to talk trading and share all the new developments in his trading. One of the great things about Carl is his willingness to be an open book of transparency. He shares with us a trade that resulted in a $100,000 plus loss and how it helped to shape and mold his current strategy. Fast forwarding to present day, Carl is seeing some great success due to the time and effort of narrowing down a strategy that works for him. He discovered the unique strategy from other members of the community, but as it should be (and needs to be), he fine tuned it to fit into his personal risk tolerance. We talk about that and much more, so let’s go!

Trading is a massive mind game puzzle that must be figured out in order to establish long term consistency. The first piece of the puzzle is becoming self-aware. If you are not able to do this, then all else will crumble around you. My guest from the community, Lisa, is a great example of what the journey of becoming self-aware looks like. I really enjoyed her perspective on things and how she was totally honest with the mistakes she made and her regrets. I respect here for locking her ego away and shooting straight (pun intended) with me about the things she wish she wouldn’t have done. This is definitely an opportunity to learn (free of charge) from someone else’s mistakes and regrets so you can keep yourself focused on the things that actually matter. So, let’s get to it!

I’m all for physical labor. Sure, it is something you cannot do forever, but if you’re willing to do it while you are able, it’s a great way to give any longer term goals a jumpstart. I realize most people would love to just start sitting in a comfy office chair and never break a sweat, yet still make money, but the reality is, the odds are against that happening. My guest, Marty, is someone who I have nothing but respect for. He is someone who is doing whatever it takes to accomplish his big picture goal of becoming a consistent trader. In fact, in his daily work he is putting himself into situations that many people are not willing to do, which I find extremely inspiring. I know the saying is way overused, but it applies here perfectly… the saying: where there is a will, there is a way. Marty has a will and he’s definitely putting that to use to find a way.

I’m flying solo in this week’s episode as I wanted to focus solely on an issue that I see constantly arising for traders. The business of trading presents a constant struggle of both mind and strategy, but when you are new to the markets, this struggle can feel like climbing Mt. Everest. Thanks to a recent article that is grounded in science and research, we are given some extremely practical insights into why trading can be such a challenge when you are first getting started. I’ll be honest, it was nice to be able to say, “Hey, this is not my opinion, but rather what research has discovered” when explaining how it all pertains to trading. If you find yourself struggling as a trader and not being able to quite reach the consistency that you want, then there are several items in this podcast that will open your eyes and point you in the right direction. Let’s go!

One of the most revealing questions a newer trader can ask is: but WHY? This shows someone’s desire to want to be more than a blind sheep trader. With all due respect, if you believe the markets are as easy as “following hot stock tips”, then your current status is that of a blind sheep. No worries! I started off the same way and it can be corrected, but Step #1 is first just acknowledging you’re a blind sheep. My guest, Aaron, is still pretty new to the community, but he’s taking all the right steps to put himself in the best possible position to succeed. The other things I really like about Aaron is his ability to take “hard” feedback and not get all offended or triggered. Too many times people hear something a bit on the hard side and get all offended, but in Aaron’s case, he took the feedback as it was intended and rolled with it as any adult and serious trader would. I really enjoyed my time with Aaron and I’m sure you will to, so let’s get to it!

Pick up the phone and start dialing for dollars! My guest this week made a living doing this exact same thing as a licensed stock broker. I always enjoy talking with those from the old school way of doing things because it brings such great perspective into today’s online world of making money. Community member, Matt, walks us through his early days in the market as a broker to where he is now, learning how to take full control of his money and grow it through actively trading. While Matt is still in his learning stage, he displays some great mindsets and mentalities that demonstrate what it takes if you are going to give yourself any kind of legitimate chance at success in the markets. We venture down quite a few rabbit holes so there is something for everyone in this week’s episode. Sit back and enjoy the ride (and scribble down some notes as you see fit).

This person’s story is without question Top 3 Most Inspiring since I began the podcast back in 2014. My guest, Diego, has been on the show before and he’s one of those guys who will make you think twice before you begin feeling sorry for yourself or making excuses. Diego is an insanely busy guy, however, he continues to make progress within his trading journey. He’s had some rough patches for sure since his last appearance on the show, but he has also made extreme progress. In fact, he is now profitable and consistent as he works through his current strategy that he shares with us. What I appreciate the most is that even though he has been consistent and profitable, Diego is still well aware of the pitfalls that could arise so he is on guard in a big way. Let’s get to it!

I’m a big believer that the success you have in life is influenced by who you choose to surround yourself with. In this week’s discussion, I talk with someone who truly gives off a positive vibe and I was soaking it all in. My guest, Jerry, got off to a great start in the markets back when people still talked to their broker on the phone, but then….well… things changed a bit. Back to the drawing board Jerry went and thus began his journey towards finding and establishing consistency. I really respect the pathway Jerry has chosen in both life and pertaining to his goals with trading. Sure, it may not be the pathway that creates overnight riches, but it is the proven way to a slow burn that produces results. There is certainly something for everyone to take away from in this discussion so let’s get to it!

These conversations are some of my favorites. They start out in pure confusion, chaos and craziness; however, by the end of the discussion you can see real progress has been made. Fellow member James tells us all about what he has been through, where he is at, and where he is headed in the future. What I find to be most motivating and inspiring is that you can start out as chaotic as he did, but if you stay self-aware and make the changes that need to be put into place, it is completely possible to start to consistently grow your trading account. I respect that James kept his ego in check and admitted to himself that things needed to change. There is a great lesson in that in and of itself. The great part is, that is only the tip of the iceberg! So let’s get to it!

Envision the first domino wiggling back and forth. All it takes it for a slight nudge. Down it goes and all other dominos will be knocked down with the momentum. That’s how I can best describe the underlying “feel” of my discussion with fellow member Ezra. He’s a younger guy with great potential and a good head on his shoulders; however, there is something missing. There is something holding him back from just going “all in” and learning how to truly take control of the markets and his trading. When it comes to “dabbling” verves “going all in”, there is a huge difference and this conversation will demonstrate this comparison. For whatever reason, Ezra is “dabbling” instead of “going all in” and it’s a situation many people find themselves in. I 100% respect Ezra and his honesty and willingness to tell us the blunt truth. This opens up lots of learning nuggets that we can all take and apply to our personal journeys. Let’s get to it!

While I know the topic of "can you trade with real money WHILE you are learning?" has come up multiple times.... I'm not quite sure it has ever been discussed in this manner. I will admit, I can get pretty stuck in my ways. But the way our guest, Carla, is going about her training and education towards the market has me reconsidering how I view this certain question in the market. Like everything, there is always "gray area" that should be and needs to be accounted for; however, with the way Carla is going about it, I must say.... I fully approve! If you are one of the people who want to use real money "while" you learn, you should consider using The Carla Method!

If you want to be a fly on the wall and listen to traders "talk trading", then this will be the episode for you. In this episode, I talk with longtime member Ryan (better known as "Mico" in the community). Sure, it was an interview as I did ask the questions, but most was just us talking strategy and offering up thoughts and opinions. We talk bitcoin, microcaps, shorting, position sizing, mental stops and a whole lot more! Ryan, just like all of us, has had some time toughs but thanks to his honesty we have ourselves some great nuggets of wisdom. Let's get to it!

Have you ever had a “Utah event”? I know I have and they aren’t very pleasant. My talk with community member John sheds a ton of light on some very common problems that many of us face as traders. These problems don’t make you stupid, they make you a human…. But, they still need to be addressed and “put under control” at all costs. Although John has struggled, he has now found himself a nice little sweet spot within the markets that has been treating him very nicely over the past couple of years. There are many ways to profit from the market, but one way is to simply get very specialized in one specific location of the market and excel at it. This is exactly what John has learned to do. We’ll talk about this and much more. Let’s go!

A huge part of trading is mental. It may sound dramatic, but if you want trading success, the mind must be mastered. Our guest today, Marc, takes us on a great journey of witnessing his Dad do well as an “old school trader” in the markets to now trading all on his own. Like all of us, he’s had struggles and the one is due to a mental issue I can relate too. Some people find it odd when I tell them, “I don’t know anything at all about this company, but I’m trading them” and Marc’s struggle illustrates exactly why I approach the market in this way. Bottom line, there are sneaky voices that we can be proactive against if we set certain rules for ourselves and that’s just one of the great nuggets of wisdom you will learn. Let’s get to it!

Talking with full time traders is always a popular thing on the show, and that’s what we have this week. Jason (‘jyandcomp2’ chatroom alias) is a full time trader who made the jump the way it should be done. Technically speaking, you could quit your job today and then tomorrow “be a full time trader”, but that doesn’t mean it was a wise decision. This brings up the logical question, “Well Clay… what “would” be a wise way to do it?” You’ll get that answered and a whole lot more as you hear from Jason and the ups and downs of his journey so far. I had a lot of fun with this talk and I’m certain there will be some valuable nuggets of wisdom you can extract from it. Let’s go!

Stay away from day trading! It is too risky. This is exactly what our guest, Mark, was told when he was first learning about the markets. Here’s the seemingly contradicting thing: I agree with the person who gave him this advice! Please give me a chance to explain, but this is just one of the interesting rabbit holes we go down while learning about Mark and his trading journey up until this point. I will say at this point that Mark no longer views day trading as “risky”… how he has reached this point is yet another thing you’ll hear all about. Let’s get to it.

A unique twist on this discussion is that our guest, Paul, is now a ClayTrader University member. By the time you as a listener hear these talks, in many cases, several weeks have passed by. I think this is pretty cool because it gives us all insight to what having “many pieces” of the puzzle looks like…. But… not quite “all” of them. Perhaps you can relate to Paul in this regard? You know what you are doing, but, you just have this feeling in your gut that something might also be missing? I’ve talked with Paul quite a bit since this discussion took place, and he’ll be the first to tell you that while he certainly was not wandering around blind, there were still “pieces” he was missing out on within his trading. Paul is a great guy who I’ve apricated getting to know better and better and I’m extremely confident that whether you are brand new to trading or a seasoned veteran, there will be something that you can find of value to apply to your trading or simply use as a “reminder” of how things need to be done. Let’s get to it!

This one had me laughing. If you find yourself having to fake digestive problems in order to “make a trade”, I feel confident in saying you are NOT going about the markets in the wisest of ways – haha! Thanks to our guest, Chad, and his truthfulness we all get to see what certain “strategies” can lead to. As funny as his story is, I’m sure several of you can relate to it in one way or another. Bottom line, signing up for a service that promises to send you text and/or email alerts in order to make you money is not going to turn out well. I realize on the surface it sounds great (and the really great advertisers make it sound even greater), but in the real world and in a practical sense… it doesn’t work consistently. From both an entertainment perspective and a wisdom perspective, this discussion has lots of great stuff in it, so be sure to set some time aside to listen! Notes: Today we speak with community member Chad. His interest in the market grew after he talked to someone who retired early and was currently trading ETFs in his tax-free account to generate about $1,000 a week. After spending hundreds of hours going through free education and briefly paper trading (for a week), he pooled together about 7k and borrowed money to get his account to the 10k mark. His logic was that he could trade 1000 shares of stocks under 10 dollars with that size account. Chad started the first day positive and then promptly lost 800 dollars the next. This led him to realize he needed to find someone who could provide a more structured training. He joined a community that essentially played follow the leader. While he had some winners he had more losers which were also larger than his wins. He decided to take a break and focus on life instead of trading. Utilizing the gains from selling his house, Chad got his finances back in order and cleared his old debts that had accumulated. After getting back into trading he started to paper trade options, futures, and forex. Chad opened a futures account and began to rapidly trade intraday since his new job hours worked with market hours. He realized that he ultimately did not want to day trade. As much as he wanted it to work it just didn’t work with his personality. This led him to focus on advanced options. Now Chad is paper trading advanced options while he saves up to a certain amount for his trading account. While he has a rough idea when he will go live, he’s going to wait to see what his paper trading performance has looked like and will use that to determine when he is ready to put money on the line again. Quotes: I thought you had to be on Wall Street or work in an office building to be a part of the market. I saw the tab at the top that said ‘Options.’ I thought that was settings for the platform. I was willing to listen to complete strangers to verify my thesis that this company would do well… even though they’ve never had a positive earnings report. I like to relate free education to a 1000 piece puzzle. You don’t have the picture on the box and you’re missing 100 pieces. I came to the conclusion was that I don’t like day trading. Despite wanting to do it so badly I didn’t like the rapid decisions you had to make. Links: https://claytrader.com/videos/trade-profits-100-time/

It’s time to once again to international and talk with a longtime member who lives down in South America! Jose (alias in the chatroom of “jose.olivieri”) has been with the community since almost the start six years ago. He is now a full time trader and has adapted some interesting mindsets towards the market, which when we talk about in depth, truly do make sense. At the end of the day, because trading is such a mental battle, you need to do whatever it takes to trick your mind (and voices) into believing certain principles. This is just one of the many things Jose and I talk about. There is lots of great stuff for someone who has been in the market for several years now. It’s time to go South below the equator. Let’s go!

The first thing I did after recording this episode was run and tell my wife about it. Listen, we’ve had some great stories of people “doing what it takes” to take control of their life and situation, but I’m pretty sure Zach takes the prize. He has and continues to go to extremes in order to take destiny into his own hands and create the life for his family and himself. I won’t go any further than throwing out there… the next time you think, “Can I do it?”… think of Zach! There are also lots of great nuggets of wisdom in regards to just how tricky the human mind can be with emotions. You can be extremely confident that you will be able to control them, but… well… you’ll see what I mean. Let’s get to it! Notes: Today we talk to community member Zaher who goes by Zach in the community. Currently, his wife and children are located elsewhere and he wanted to find a good job to support himself and his family with the intention of being able to go back home to them. After funding a small binary options account, Zach started making some decent gains following someone else's instructions. He is the type of person who wants to learn instead of following blindly. It soon became clear that this particular broker/educator was all a scam. Eventually, Zach realized he needed to fund a brokerage in Canada and found a discount broker. While he deals with other people’s problems and emotions daily for his day job, he thought he was the master of his emotions. This was until he finally put his hard earned money on the line day trading. He got caught immediately buying tops and selling bottoms. Zach realized that he needed a mentor after a little while of losing money. Even regardless of all the books he consumed, it was unable to help him handle the real-life stresses trading involves. After emailing 3 different trading educators, Zach ultimately decided to start taking courses here at Claytrader.com. While Zach would fly through the books earlier in his journey, he has now recognized the fact that it’s not a matter of racing to the end. Regarding the courses, he is taking his time one course at a time and rewatching material that he has trouble grasping. He understands this is not a get rich quick scheme and takes time and effort to succeed. Quotes: I’m not the type of person who likes to follow anybody. I just really want to learn. I went and searched for every book that had to do with trading… and I bought them all. I’ve always thought I was a person who could control my feelings. That was until my first-day trade. 80% of my trades I’m reading it right but it’s so volatile it shakes me out right away. Then I re-enter and it shakes me out again. You helped me change. You helped me to think about things differently. I want to commit to being a really good student and I want to live with my kids. It’s been 6 years and they are growing up without me.

Ever since I posted a video on my YouTube channel about the $400 to $29,000 trade, you as viewers have demanded to hear from this trader! Well, here he is! Our guest, Maquan Dawkins, took some time out of his extremely busy schedule to share his journey with us… including the massive winning trade he scored. While I realize it is easy to get caught up in the hype of such crazy numbers, please keep in mind the underlying themes here of just how much work and effort Maquan has put into his trading strategy. He is by no means throwing darts and certainly is not doing the whole “go big or go home” approach. Once in a while though, the market does give you BOOMS in your favor. Maquan is a high energy guy, so be ready! Let’s GO! Notes: Today we talk with community member MaQuan. His introduction to the market was before 2008. He was friends with the president of a bank who would talk often about the market. While his friend tried to explain the market to him, he never fully grasped it at the time. After changing location and taking a pay cut, his fiance suggested he focus with much more intent upon trading. After looking around the education landscape, he ran into someone offering a program for $20,000 but he thought that was ridiculous. MaQuan invested in the University package and began working through aspects he wanted to focus on. The problem he had was his consistency so he developed a seven-step strategy that should shape what kind of volatility his portfolio will have. While he didn’t paper trade using a platform, he mentally tested his strategy over time with lots of reviews after the market was closed. A big reason for his fluctuating results earlier was not utilizing the same amount of capital per trade. Now all of that criteria is part of his seven-step strategy. He’s never going out looking for home runs. Base hits add up fast. Quotes: Fund an account with no education. Find stocks with no education. Buy stocks with no education. 2015 was a good year for me. My strategy wasn’t there so I couldn’t duplicate what I did right. Because of my job I don’t have a lot of time to sit and watch the trades. That’s why I had to form a strategy that fits for me. I’m a football player, Clay. That’s how it works. My brain is looking at a set of plays they run and the percentages. That’s exactly how I work in the stock market. Links: https://claytrader.com/videos/turning-400-into-29000/

Struggle with emotions in your trading? Taking a step back and letting numbers and data be the drivers of your decisions can make a huge difference. This is the exact pathway our guest, Sean (in the chatroom, “seantepper”), has chosen to pursue. What I found especially fascinating about Sean was his unwavering desire to stay laser-focused on the numbers and nothing else. Oftentimes, there are so many shiny objects floating around that it can be easier to distracted and pulled off our target goals, but for Sean, he’s like an iron trap clamped onto the data. This brings up a few areas of gray that he and I discuss to better position himself, but all in all, there is a lot that can be learned from his mindset and approach. Let’s get to it! Notes: Today we talk with community member Sean who rarely has time to hang out in the Inner Circle based on his current job. Coming from the tech world, Sean recognized he needed to focus on educating himself first rather than just blindly throwing money into the market. Sean utilizes Excel Spreadsheets to quantify if an option is worth buying. He sets alerts so that throughout the day he can take action if required. This sheet helps him analyze opportunities in about 30 seconds per stock which allows him some time in the morning to make decisions. While he is still focusing on paper trading, the gains in that account do not matter to him. Paper trading is to build good habits and give himself the best odds for success by having a historical record. Sean realizes that he can over-engineer this spreadsheet until the end of time but sometimes the market does what the market does… it has an element of randomness to it. This has led to some big wins and big losses but he recognizes that those events happen now and again. His key focus is the trend of his system. Quotes: I wanted to learn ‘true value investing’ like Warren Buffett and Charlie Munger but I ran into your courses first. If you move forward with uncalculated risk, you’re just gambling. I went through 5 stocks and each one was disqualified. Each one would lose money for me based on previous tests. There are no emotions. It’s just really leveraging data to make decisions for me. You look at the trends of why you’re losing and winning and see the correlations. It just takes practice. Focus on the discipline and the money will follow.

Whether or not people want to admit it, most start out as a gambler within the markets. Sure, it may not be intentional, but when you don’t know what you don’t know… odds are… you are doing something that is essentially gambling. How do you evolve away from this? What types of ups-and-downs does this bring along with it? We go into this and much more with our guest Jim (chatroom alias of ‘farmboy’). Jim experienced the world of penny stocks for a while before deciding to climb out of that mud pit and then from there still had plenty more lessons to learn. Jim is currently trading with real money as he builds up good habits which can eventually be scaled into larger trading amounts. There are some key talking points that our discussion brings about, so be sure to listen carefully so you don’t start comparing apples to oranges. Let’s get to it! Notes Today we talk to community member Jim who goes by ‘farmboy’ in the chat. When he started his first job he was able to buy into a 401k. He was limited to 3 funds and focused on the ones with the best percentage returns. Most of the capital Jim had was in safe investments such as mutual funds and various diversified funds but allocated a small amount for speculation. He did dabble in penny stocks but learned a valuable lesson regarding liquidity very quickly. Eventually, Jim realized that he needed to learn much more about trading and dove headfirst into Claytrader University. After going through the penny stock course, he decided to leave the penny stocks alone and move onto more liquid products. Jim doesn’t paper trade because it doesn’t evoke any emotions. He believes he wouldn’t make the same decisions without having money on the line. Moving forward he would like to focus on swing trading since he still spends a majority of his time working on his farm. Quotes I knew the power of compound interest. As far as the market it is, it’s still mystical to me. Kind of like an addicted gambler. Even though I know I’m throwing my money away to a certain extent, maybe I can make it on the next one. Even though I still don’t know what I’m doing, I’m still trading. I just can’t stop myself. I want to get more into swing trading. I just haven’t gotten up to those courses yet. I found myself not wanting to honor stops but realized I need to let it go and let the stop happen.

Rough times happen. Falling into a rut happens. The question becomes, how do you respond to these types of circumstances? In this episode, we talk with international member (from Denmark) Zagros who experienced some bumps in his journey, but as you’ll see, no excuses… he did what needed to be done. Even though he is a younger guy, there is something that we all (no matter our age) can take away from Zagros and his journey up until this point. For me, it was pure motivation and inspiration that when life feels “off”, you just need to look in the mirror and take matters into your own hands. He is working hard on his trading knowledge and doing what needs to be done to set himself up to give him the best possible chances to succeed in the market. Let’s get to it! Notes Today we talk with community member Zagros from Denmark. His interest in the market was due to a search online about various jobs he could work digitally with lots of flexibility. He doesn’t have the largest family but he wanted to provide for them while having the ability to travel. Zagros expressed an interest in Clay’s courses at 16 years old and after his mother was assured that he was truly interested she helped him pay for the first course. He was having a rough time in his life so he took a break from trading education and volunteered for military service. This service led him to find the discipline he lacked prior to joining. When he finished his service, he enrolled in University and began his educational journey. Zagros takes in information best by both listening, watching, and transcribing what is taught to give him the best odds of retaining the data. Zagros utilizes options in the US market because he enjoys having the ability to cap his risk and also decide what type of probability of profit he would like. This is another example of how trading is different from one person to the next. His risk profile will most likely differ from your risk profile. After trying to create a ‘holy grail’ type system, he realized that this was a fool’s errand and scaled it all back to just the very basics. Price action and volume are kings but implied volatility is also an option traders friend. Quotes I wanted to make money online so I could care for my mother and travel. I knew I could not do it with a traditional 9-5 job. Clay said ‘discipline discipline discipline.’ I wasn’t a very disciplined guy so I wanted to kick myself in the butt. A defined risk is a beautiful thing. You can theoretically have an ‘all weather’ portfolio by adjusting your positions. When I tried to make my own system, I put so many indicators on the chart that it was crazy. So I went back to basics.

I’ve hung out with this guest multiple times and I can speak with first hand experience he is a quality individual. Mike, or better known as “HeyFordy” in the chatroom, has been on the show two times before, but like I said, he’s a great guy so why wouldn’t we want an update from him? Him and I talk about some pretty profound areas that really can only be discovered from personal experience or from listening to someone who talks publicly about them, which is what Mike does. Setting all exaggeration and hype aside, please listen very closely to what Mike has discovered after his multiple year journey, it truly is the key to finding your comfort zone in this crazy world we call trading. This was truly an epic episode, don’t miss it. Let’s go! Notes Today we talk to Mike who goes by ‘HeyFordy’ in the community. This is his 3rd episode with us which is a testament to his skills considering he has been doing this consistently for quite some time. Mike has realized over the years that trading absolutely affects the quality of his life when he puts too much weight on his performance. He has had large accounts and small accounts but the main takeaway is he found a comfortable spot where he allows himself to withdraw gains while still growing his account. The biggest change in his trading is that he became content with smaller winners more often instead of going for the grand slam every day. The market doesn’t present huge opportunity often but it does present smaller opportunities more often and Mike has been making a great return since this realization. Clay and Mike discuss the importance of actually pulling money out of the trading account to pay yourself and remove it from ‘harms way.’ It is a fool's errand to think that someone's one month's returns will repeat every single month. Pay yourself and do what makes you comfortable regarding your account. Mike mentions that trading is not for everyone. Stress was a huge topic in this week's podcast and not just strictly from a trading perspective. If you don’t feel well mentally and also physically, what chance do you think you stand competing against the best in the world in the arena known as the market? Quotes I found my comfort zone. I don’t get really big winners anymore but I’m happy with it. I was chasing those big wins a majority of my trading experience. I have this new state of mind regarding not having to hit a big win every time. These small wins are small wins but they add up. If you made a profit there is no shame in taking that little bit out. I use options much like I use equities. I use them on extremes. I’m looking to grow my account just not by leaving money directly in my account. I know that may sound weird but it’s probably a mental thing for me. Enjoy your life. Life is not trading. Trading should be a small little part of your life. Links https://claytrader.com/podcast/episode099/ https://claytrader.com/podcast/episode134/

One of the worst things you can do to yourself in the world of trading is forcing yourself into the markets because you “need to trade”. As odd as it sounds, the best time to learn about the markets and trading is when you have no pressing need to do so This is exactly what we have with our guest Orval (his chatroom community alias, ‘Sandman’). Orval is a police officer who enjoys his job and has done a great job of rising through the ranks. With this being the case, he has put him in the ideal situation of wanting to learn the markets, but not in a high-pressure type of way. At times people can get blinded by the glitz and glamor of trading and look to it as a solution to all their problems. However, in many situations, this comes with people “needing” to have success, which in a cruel way, makes achieving success that much more difficult. Lots of lessons to learn from Orval and his journey so far, let’s get to it! Notes: Today we talk with Orval who goes by Sandman in the community. In the 90s, Orval was a drill sergeant for a program designed for at-risk kids. This was his introduction to long term investing where he set aside a portion of his paycheck pretax and then never thought twice about it. After seeing the gains from his mutual funds, Orval decided to open a brokerage account to individually pick stocks in an attempt to beat the mutual funds' return. While he had some winners he also had some losers considering he was relatively new to all things trading. In his younger years, he was familiar with living on a very low amount of income between him and his wife. This was the spark that led him to always have the goal of padding his retirement by saving and living well within his means. This has become a habit for him to the point where he doesn’t even think of the additional money he saves every month. Orval started to look into more trading resources and this led him to StockTwits. After a short time there, he saw Clay’s analysis on one of the stocks he held and Orval investigated further. He really appreciated that Clay had no problem showing his losers along with his winners. He decided to focus on the guaranteed trade (a JOB) which led Orval to take a break from his trading education. While he was also working on his personal fitness, he once again found the energy to continue working through the University program. Instead of picking a hard date to start trading live trading, Orval will go live once he feels comfortable on paper. He realizes that it takes everyone a different amount of time to get there and forcing a specific date would be foolish. Quotes: I threw around 100 bucks in this stock and let it sit. It went up 1200-1700 percent. Never took profits on it … I figured it was going up and it would keep going up. That wasn’t true obviously. I really didn’t know anything. Maybe just a little bit of success is a dangerous thing because it makes you think that you know more than you really do. I understood that I got lucky and I didn’t want to blow up my account and lose the progress that I made. If you don’t have your health you don’t have anything. Regardless of if you are a successful trader or not. Yeah I got kind of lucky but it could have gone the opposite way. I wouldn’t have lost lots of money but it still would have hurt.

Wanting to learn how to profit from the financial markets is a tricky situation. On one hand, you need to have an extreme passion in order to ensure you have the willpower and desire to push through the tough times. On the other hand, you don’t want to allow the passion to create a situation where you are burning yourself out. There is a fine line but it’s a critical line that must be located for your personal situation. Our guest, Justin (his chatroom alias, ‘ChunkyMonkey’) talks about this aspect of his journey amongst much else. He has quite a bit of experience with other “services” in the industry and sheds quite a bit of light on some of the shadiness that exists out there. While he is still in “planning and learning” mode, given all the numerous things he’s already been through on his journey there is something for everyone to take away. Let’s get to it! Show Notes: Today we speak with community member Justin who goes by ‘chunkymonkey’ in the chat. His introduction to the market was at a relatively young age. As he got older Justin had a mentor who actively traded in the stock market so he had a slight insight into what trading entailed. While this person mainly used fundamental analysis, he did get a glimpse into technical analysis. His risk profile would be defined as very conservative and he even fears paper trading strictly for the fact that it may not reflect accurately his gains in a live environment. Justin enjoys owning a business and working but his long term goal is to be able to travel the world while making money simultaneously. This overarching idea is what led him to take a closer look at trading. He took a look at a lot of different services offered by other people in the trading industry and while he sampled a few, he didn’t enjoy the degenerate gambler feel of some of the communities along with some very surface level information that Justin already knew. What he enjoyed about Inner Circle was the fact that the alert rooms had no fluff or biased opinions, just technical setups. Justin has slowed down regarding going through the courses in an effort to digest the material more fully. While he has only completed the first course he has planned out the rest of his educational journey including when he will start paper trading seriously followed by going live. Since he’s learned about many indicators, he absolutely realizes that he needs to pick the ones that help him the most (versus having 10+ on his charts). Justin knows that the search for the Holy Grail is one that cannot be solved but it’s more about finding what tools aid in decision making. Quotes: He would show me support and resistance and fibs but it was so overhead at that time for me.” I’m very risk averse even when paper trading. I take it very personally, probably more the being wrong part.” Part of the thing I love about Inner Circle is that some rooms are just for alerts. In the other chat rooms I had to filter through lots of chit chat.” I had to back myself off a little bit because every waking moment I would think about trading. If I overdue it I will burn myself out so I backed off a little bit. It’s not efficient to ride a motorcycle with 6 wheels. But just add a few training wheels like moving averages and MACD. Just trying to figure out what works.

Are you someone with a schedule that does not allow for you to be able to watch your screen every second of the day? If so, you are not alone and you will find great value in our discussion with community member Jon (his alias in the chatroom is also just ‘Jon’). He is someone with a packed schedule and on the surface you would think there would not be any way he could “be a trader”. There is power and freedom in knowledge and Jon took the steps needed to inform himself to take advantage of an area of the market he was originally not aware of (most new people have no idea about it). Around these parts we call it options farming and it is truly a great way to get involved with the markets in a very time efficient way. Jon tells us all about where he started and how he arrived to the point of making money with minimal time required each day. Lots of knowledge is coming your way, so let’s go! Show Notes: Today we speak with community member Jon. His introduction to the market was actually a gift from his grandmother. She gave him some stock as a graduation gift and he eventually learned about dividend paying stocks. While passively investing in his 401k and focusing on companies he thought had potential/believe in, he started seeing a scrolling ticker of big movers for the day. This led him to start looking into penny stocks around 2013 which was quite a time for small cap stocks. After making modest gains being a passive investor, Jon started to see the allure of penny stocks and would focus on the highly discussed ones on StockTwits and iHub. While he had quite a few winners (by luck) he eventually went on a losing streak and decided to abandon penny stocks entirely. Jon saw Clay post a chart analysis video and this intrigued him to look into technical analysis. After some deliberation, he joined the program and has taken a bit of time to work through the program due to his commitments outside of his day job and hobbies. As he has worked through the program he noticed that the Advanced Options strategies work perfectly with him having a limited time during the day to trade actively. A previous podcast led him to investigate the opportunities of those strategies and he has been using them exclusively ever since. Eventually Jon will look more into day trading but Clay and Chezz try to dissuade him from jumping into that too early. While there is nothing wrong with continuing your education and expanding your knowledge, if he only has his lunch hour to trade this can turn into a slow bleed or worse, a disaster. Quotes: I thought you could only buy or sell in 100 share lots. It wasn’t until 2011 when I discovered you could buy only 1 share of something if you wanted. Here I am making 1 or 2 percent on Microsoft or Ford and I see these other stocks moving 200, 300, 1000 percent in a day. That piqued my interest a bit. I would buy in and just kind of wait for the news to happen and see what the stock would do when the news did come out. There’s so much material it’s crazy. It’s a good problem to have. There is very little time commitment once you’re in the trade to maintain it. It’s been awesome for me. Links: A Stock Traders Daily Routine: https://claytrader.com/videos/an-option-swing-traders-daily-routine-in-detail/

I love when people acknowledge they have victim cards and decide to light them up in flames. In my mind at least, there is nothing more motivational than when someone kicks excuses in the face and focuses on solutions rather than perceived problems. In this episode we talk with fellow community member Tomasz ,who lives in Scotland. I don’t want to spoil too much, so all I’ll say is he went from being at some pretty low points in his mind/life to completely turning things around. We are all humans, so there is nothing wrong with feeling/being “down” in life. I think we’ve all been there. The problem arises if you choose to “stay down”. Tomasz chose to get back up and go into beast mode and it is some inspiring stuff for sure. If you refuse to give up your victim cards, then don’t listen to Tomasz, he will give you little room to hide. Let’s go! Show Notes: Today we talk with our Scottish community member Tomasz. His introduction to the market was in his schooling that focused specifically on how the market worked. Using newspapers the class would select a basket of stocks and check in over the school year. His first ‘paper trade’ was successful but he attributes a lot of that to luck. While he was growing up still he decided that he wanted to be a helicopter pilot. After looking at the training and cost associated with that, he wasn’t sure he would ever become a pilot. At one point he had 3 jobs and was fully committed to making his dream a reality. Tomasz passed his skills tests and became a pilot. Unfortunately it coincided with the financial downturn that most the world experienced which meant there wasn’t much work for him to do in that industry. He experienced a life shaking event when he lost his copilot in a motorcycle accident and this psychologically impacted him enough to stop flying. After doing some research, he decided he wanted to take trading in the market much more seriously and enrolled in Claytrader University. He disabled his Netflix and Amazon Prime and focused strictly on his education by using his time as wisely as possible. In an effort to keep himself from making emotional problems that plague many traders, Tomasz decided that he needed to clear his debts first before even considering funding a trading account. While he was working hard to make that happen he continued to paper trade and solidify his trading strategy. Quotes: It was obvious to me to buy stocks that were up trending. I remember looking at the line charts and seeing those trends. I used my skills as a painter-decorator to finish this house up and sold it 3 years later in 2008 right before the crash. I made over 100% profit on that house. It felt like I was going nowhere. I felt completely beat up by everything around. I attached the victim card to my forehead. I needed to change myself psychologically so CTU isn’t just courses. It also discusses bad emotions that come across all your life. I was working a lot and I realized I was unhappy with my accounts I started working even harder. I paid off all my debts and saved money for an account to trade.

This was a pretty unique episode I thought. First off, let me say I love talking with the younger people out there as it sets a great example of why age should not be an excuse as to why or why not you are doing something. When it comes to the markets in particular, the younger you start… the better! This is not my opinion, it’s a mathematical fact. I talk with Elliot (in the chatroom he goes by ‘elliotwest’) and we have ourselves a great conversation, although you will notice as I press him about certain topics, he seems a bit… lost. However, in other areas of the conversation you’ll notice he answers me with authority and a plan of action, which leads to some real life coaching to help bump him in the right direction. Sure he’s a younger guy, but no matter your age I’m confident you’ll be able to relate in one way or another and pull some wisdom from the conversation. Notes: Today we talk with Elliot from the community. He was aware you could purchase shares of a company but wasn’t really sure how to profit from that. In high school, he decided that he wanted to make a living working from his computer at home. Stock trading was one of the jobs that popped up in his search. Elliot decided to do his research on Clay after he found his videos on YouTube. He watched all the videos for almost a year before enrolling in Claytrader University. His logic was that if he was still interested a year later then this was something he truly wanted to do. He decided to start trading relatively quickly but suffered some silly losses which led him to take another hard look at his technical analysis and risk management. Elliot stepped back since he realized he started live trading a bit too fast. Elliot started to see the true power of the market after making some profits and he also has a good handle on keeping his losers small and pushing his winners as far as they’re willing to go. Considering he is subject to the pattern day trader rule, he wants to focus more on swing trading momentum stocks going forward. Quotes: I learned at a young age that you could buy shares of a company and I thought that was pretty cool but I didn’t really know much about that. I tried to find things on you that would hurt your character, no offense. I tried to see if there was anything bad about you online. If I lost it all I wouldn’t be broke. I would be bummed out but I was okay mentally with losing it. My goal was to start investing in my retirement before 21. Before I can drink I need to start investing. Losses kind of bum me out but I’ve come to learn you need to take the loss to get your money back and put it into another trade.

Take note, this is a Part 2 episode, so for the best listening experience, listen to episode 201 first. Assuming you have listened to episode 201, then you already know our guest, Brad (‘Darb24’ in the chatroom) is an absolute beast who will do whatever it takes to get to where he wants to go. He’s truly a shining example of someone who pulls out the hardhat instead of the victim card when things get tough. In Part 2 we now move more into his actual trading and the way he is approaching the markets to pull the most profit as possible while keeping his risk minimized. If you enjoyed Part 1 there is no doubt you’ll enjoy Part 2, so let’s get to it! Show Notes: Now we pick it back up with Brad. He originally thought options were too complex of a product to trade but this all changed once he went through the Options Trading Simplified course. Unfortunately he had to spend some time finding a broker with reasonable commissions. Brad decided to go with Tastyworks because of the lower commissions but the platform is not the best for day trading. He also experienced ‘the voices’ that come out when he starts to run out of buying power and has to sit out the rest of the day. While Brad admits to being breakeven at this point in his trading, that is the first step to profits. A big difference between Brad and other traders is that he is focusing on his consistency much more than the size of his profits. This is crucial for long term development. Quotes: Taking it small, trying to form the good habits and working on breaking the bad ones. With me trading such a small account, it doesn’t take very long to go through my buying power. If I start off the day with a loss I start off the day with a loss. It is what it is. Once I do get gains on the board it gets me to thinking about taking the risk of giving them back.

The road to becoming a trader can be a dirty one filled with lots of self-sacrifice and many less than ideal situations. I have nothing against the “smoother” journeys, but there is something a bit more extra motivating when someone has to dig deep in order to get to where they want to go. Our guest, Brad (chatroom alias, “Darb24”), is someone who I have a ton of respect for. His journey has by no means been easy, but he never once complained or pulled out the victim card. He sucked it up, got dirty (and continues to get dirty) and made things happen. I know the saying is way overused, but it’s truly the case here: where there is a will, there is a way. Put on your hard hat (well… welder’s mask) and let’s get motivated with Brad! Show Notes: Today we talk with community member Brad. He came from a modest upbringing and didn’t think he had any real access to the market for that reason. 401k’s and long term retirement investing is what actually introduced him to the market. Brad struck up a conversation with a coworker who said he he was trading in the market. This unfortunately was at the same time as the crash in 2008 which led to a difficult time regarding his employment and income. Needless to say, trading still wasn’t in the picture yet. While he found some great paying jobs, most of the time it kept him away from his family so he moved back and worked locally for quite a few years. After changing jobs a few times, he eventually got back onto the idea of trading. One day Brad was searching for reviews on trucks and stumbled upon Clay’s video about the new truck he bought. He about fell off the end of the hotel bed when Clay mentioned ‘trading’ at the very end. This led him to investigate further and ultimately join the community. While going through the courses, Brad funded an offshore account just to get his feet wet in the market. It did not help that he had initially been paper trading unrealistically but regardless, he was able to truly see the voices that appear when real money is on the line. Quotes: I never looked at the stock market as something that somebody like me could take part in. I thought it was for rich people in New York City. I ended up taking a local job back home and worked there for 5 years but trading was always in the back of my mind. I was driving to work one morning thinking ‘there has got to be a better way to make a living’ and trading came back to mind. I’m spending the money on education and CTU. I opened up a SureTrader account with $1,000 and if it dropped to $500 I would close it. In a few weeks it dropped to $500. Links: https://claytrader.com/videos/got-new-truck-2018-gmc-1500-sierra-denali/

Wow. We did it! Not only did we hit 200 episodes, but we did it 200 weeks in a row. A special thanks to our community whom I give all the credit to for allowing this feat to be accomplished. Without you and your willingness to share your experiences, there is no way we could have done 200 weeks in a row with uninterrupted content. For this episode, we are bring back two members who were part of our first 10 episodes and we’re all “talking mistakes”. Given the idea of the show is to show the “realistic” side of trading, I figured what better way to celebrate 200 episodes than all sharing some of our biggest screw-ups, no matter how embarrassing they may be. Let’s go! Show Notes: Today we celebrate making it to 200 episodes with Nate, Hooch, Clay and Chezz. We spend the episode talking about the three biggest mistakes they’ve made since they started trading. The first eye opening mistake most of us made was not being completely aware of the commission structures and how they vary across multiple brokers. One of Nate’s biggest mistakes was thinking that a bad trade he was in could not get any worse… when in reality it can always get worse. Trade what you see, not what you think. Hooch talks about the importance of multiple sources of income. He clarifies that you do not need to start the next Fortune 500 company to earn some extra income. Multiple sources of income provide you mental comfort if your trading wasn’t as stellar as you had expected. Chezz talks about putting a set time frame for when you should start to be ‘good’ at trading. In reality, everyone takes a different amount of time to hone their craft. When talking about trading mistakes specifically, greed is one that spans across the board. Everyone has to learn how to wrangle this emotion if they ever want to have lasting success. An important criteria for trading always involves liquidity. Regardless of your ability to buy, if you’re unable to sell then you’re opening yourself up to the possibility for a big loss. Hooch’s final thought is to remember there are times when you probably shouldn’t trade. This relates to major life changes such as marriage, more children on the way, buying a new house, etc. Anything that is a large event in your life can impact your mentality which will come out in your trading. Quotes: One of my biggest mistakes was not understanding commissions and how it can screw up a trade plan My biggest mistake I like to point out was having the false mentality of thinking ‘it can never get worse.’ You don’t have to start up a new Amazon… even if I make an extra 40-50 bucks in the afternoon I find that really helps me mentally. Overconfidence or thinking you can put a set time frame on when you think you will be good at trading is my biggest mistake. Greed is one of the worst things to deal with emotionally when trading. Doesn’t matter how good or bad your day is going. You always think you can squeeze out a little bit more. Another big mistake is knowing when not to trade. Such as getting married or moving or something major on your mind. Trading is such a mind game. Links: Uber Eats: https://partners.uber.com/i/davep13196ue

A community favorite of mine is back to update us on her journey. Rena (same name in the chatroom) is someone I admire greatly. I've met her in person on multiple occasions and she is someone who we can all learn from given her willingness to talk about anything and everything, particularly the "bad stuff". She's a solid trader, no doubt about it, but like all traders she suffers from certain voices that have caused her hiccups. She has pressed on through perseverance and encouragement and has turned the corner in her trading. She's on the right path, now it's just a matter of staying laser focused to remain on the path (which she is doing a great job of!). Don't miss this episode, let's get to it! Show Notes Today we revisit with Rena. As we learned in her last podcast, her son was a large factor in her getting back into the market at a serious level. He has had quite an interest in the market and it was something they both had in common. While Rena has had many successful trades utilizing a rubberband type strategy, the problem she has is managing the ones that do not work. Those losers ultimately wipe out a month or more of profit in one shot. She wanted to start 2018 on a clean slate and decided to close all of her positions. This led her to take a $30k loss but the important thing here is that there is no psychological baggage for her to carry into the new year. Volatility picked up in Februrary and this led to some losses for her 'farm' account. However, she was still able to keep her losses to only $1,000 by utilizing day trading to take advantage of the intraday volatility. Rena decided to reduce her account size to ensure that she wasn't even able to take a huge loss. This size account led her to a 'death by 1000 cuts' since she was mainly playing defense instead of playing any offense. After a good conversation with her husband, Rena realized that if she didn't take any huge blowout losses she could always recover. She is content to take 1-3k losses because she knows she can make that back up. She has now been green the last 6 months after this enlightening moment. Quotes One of the reasons I kept getting back into the market was my son was interested from about the time he was a freshman. I never thought I would be that stupid to max out my account on one bad trade. I got rid of everything I had to start 2018 on a clean slate. The people in the chatroom know way more about my losses than my wins. That's when I need support. They keep me accountable. Can I make this loss up? Because 99% of the time if I get out with even a 1,000 dollar loss I can make that up. I've had a fairly healthy balance with money. I know what it's like to have money and I know what it's like to have none. Links Rena's First Episode: https://claytrader.com/podcast/episode110/

As painful as it is to hear: go slow. I’m well aware and had to learn the hard way of what rushing into the markets can lead to, so I would not call you an idiot if that’s where your mind is at; however, just realize, you’re on the wrong path! Our guest, Jose (chatroom alias, ‘JoseJuanQ’), tells us all about how he has been approaching his quest of becoming a successful trader. His journey has not been very adrenaline filled with excitement surging through his body, but, that is exactly why his current story and approach is so beneficial to us all. Even if you are a veteran trader like myself, there are many reminders and positive signs of reinforcement in regards to how I go about my daily business as a trader. Whether you are brand new or have been around for years, I’m confident you’ll find something worthwhile in Jose’s story! Show Notes Today we talk with community member Jose who goes by JoseJuanQ in the community. He had been following Clay’s videos since 2013. A friend came over one time and they were talking about investments. While having a line chart up he held it to the screen and thought ‘wouldn’t it be nice if we could predict where price is going?’ Jose is not comfortable putting his money into things he does not understand which is why he focused on metals to start. He did take a long break from the market because he was working on his education, focusing on accumulating capital by working, met his wife and got married. He started trading live after finishing University but realized he was trading scared and not in a position of strength regarding his account size. He struggled scalping with only one contract so his new account target value to start is $5,000. Jose had to take on some business debt when he moved to Las Vegas so he is currently focused on clearing that up before he does ultimately fund his account. Since his wife is going to school (and getting paid to do that) he also has to wear the dad hat so he’s looking forward to having the ability to spend more time with his kids. Ultimately he wants to day trade in the morning and focus on real estate during the rest of the day. This reality won’t come true overnight but he’s working very hard to set himself up for success. Quotes I started selling my metals and investing into my tools and my education. I was trading at the time but stopped trading. I took the little amount I had left out and focused on SLAB’ing it up. I kind of want to make it where I wake up in the middle of the night calling out support and resistance. The reason I’m going to options is that it takes smaller amount of capital and I can manage my risk better.

If you want to succeed, you must lose. While I realize that is a seemingly contradicting statement, it is a critical skill that must be mastered as a trader. Our guest, Mark (‘hyprsnpr’ in the chat room), walks us through his updated journey, particularly in regards to his relationship with losing. He is doing a great job currently with not only putting together some solid wins, but also when it comes to keeping losing trades under control. He shares a huge loss he took which brings up some interesting talking points that I believe will serve as a reminder to us all on just how tricky the human mind can be. We talk about this and a whole lot more, so let’s get to it! Show Notes: Today we speak again with Mark who goes by "hyprsnpr" in the community. Since he had a large life event on the horizon, he took another hiatus until he could have the proper amount of time to spend on practice again, which he knew he needed to spend more time on. Even with a mistake by using a more macro/fundamental approach for a trade idea (which led to a large loss) he still finished the month profitable. He has also noticed that he has the ability to stop revenge trading since he has the confidence regarding overcoming controlled losses. After paper trading for months, he went back to real money and has been green ever since. He has small daily targets but doesn’t get discouraged if he has a losing day. Many newer trades jump from one system to the next if they experience a loss but Mark realizes this is a numbers game. Marks goal is a consistent green year only utilizing basic technical analysis and risk management. He has aspirations to grow his style but he believes having more tools for the toolbox is a benefit. Quotes: It was hard to sit out of the market but at the same time I got a new job which kept my mind off of it. If I normally traded 10 contracts I would then go to 20-25 contracts in an attempt to revenge trade. My ultimate goal was to be consistent by my wedding. Life started to normalize after that and I went back to real money. I’m totally fine if I don’t take any trades on the day. Links: Rena's First Episode: https://claytrader.com/podcast/episode123/

A long time member and friend is back, Nate Wilson. For those of you who are members of the community, he goes by the same name in the chatroom and has been around from almost the beginning. He’s become a personal friend of mine (particularly if you watch the vlogs on the YouTube channel) and he’s someone I respect for his bluntness and honesty. He adapts a “I don’t care what you think” type attitude, so he has no problem simply sharing his experiences, both good and bad. In this update of his journey, he talks about how he needed to step away from the markets and trading for a while which prompts a very valuable talking point. Sometimes as traders, we should be slowing things down and tapping the brakes, but many times we do not which leads to account pain. There is certainly a learning lesson here and with much else we talk about. Let’s get to it! Notes: Today we talk with community member Nate Wilson. He’s been on 3 previous podcasts which are linked below and is a regular member who leads examples on the weekly webinars. Nate generally trades every single morning focusing on his extended scalping strategy but over this past summer he took an extended break during a house remodel. The contractor he was using wasn’t consistent with his timing so this led Nate to stop trading for a while so he wouldn’t get caught in a trade when he needed to help out. Clay and Nate discuss their styles of trading and how they may have a high rate of success, the losers need to be kept in check as to not wipe away all the smaller winners. Nate also talks about having a background in finance which helped him ease into trading. Nate suggests that going into the market with no education is a fool's errand. While eventually you need to put your education into practice, with no education you will have very poor results. It took him 2 years to feel confident in his current strategy. Quotes: I fully realized this is the strategy that works for me and I’ve stopped trying to do anything else. I just didn’t want to get into a trade because I was nervous the contractor would call right after. Once I see 10:30 on the clock I stop paying 100% attention to the market. I start answering emails and doing other work related things. If you’re just going to go into the market half-assed and don’t know what’s going on, that’s the kind of result you’re going to get. I do not have ‘shiny object syndrome.’ I’m very content with the money I make with my strategy. Links: https://claytrader.com/podcast/episode009/ https://claytrader.com/podcast/episode041/ https://claytrader.com/blog/64-trading-days-2-losing-days-possible/ https://claytrader.com/videos/member-trades-account-howd-go/ https://claytrader.com/videos/baltimore-football-crabs-trading-friend/ https://claytrader.com/podcast/episode107/

We are trying something new, so your feedback is certainly welcomed and wanted! In this episode, Chezz and I discuss a recent event that caught fire in the headlines. Perhaps you are aware, but if not, the website OptionSellers.com got extremely careless with their client’s money and ended up creating a massive… we’ll call it… “problem”… for those who trusted them. The entire topic created several rabbit holes of learning and consideration that I believe we can all benefit from. Whether that be for someone like myself where the lessons learned are a “reminder” or for new traders that may never have considered the discussion points we talk about. Bottom line, I believe this format has some potential in the future, so I hope you enjoy and get something from it. Like I said, your feedback would be much appreciated.

We’re back with another classic tale of getting punched in the teeth as a rookie. Thanks to our guest, Blake (those of you in the chat room community will known him as ‘ElkTrout’), and his openness, we are given an insight into the dangers of approaching the market in… unwise….ways. I’ve met Blake in person on a few occasions and he’s a class act who knows what it takes to work hard and fight back. Sure, he self admittedly didn’t get started in the smartest of ways, but he also didn’t play the victim card. What did he do? How did he bounce back? That and much more in our nugget-filled discussion with Blake. Let’s get to it! Notes: Today we talk to community member Blake who goes by ElkTrout in the community. His work was mainly seasonal at the time so he decided to look for some ways to supplement his income in the off season. This led him to investigate trading, mainly penny stocks. After doing initial research on trading via Google, Blake stumbled upon a few teachers but was able to discern who was genuine and who was trying to sell the ‘get rich quick’ lifestyle. His short stint trading penny stocks lasted 3 weeks before he decided this wasn’t a long term strategy. Blake decided to mainly focus on options trading. Initially he did not do very well since he wasn’t fully understanding of the greeks involved in how they are priced. He also skipped paper trading because without any money on the line he did not treat it realistically. Blake also knew that various paper trading platforms gave unrealistic fills. Something that he struggles with is his actual lack of emotion regarding his losses. Losses impact him so little that he pays very little attention to it which can lead to ruin if not checked. Blake recognizes this and checks on his performance weekly. Quotes: I found myself dreaming of being rich from buying a penny stock or two and watching it go to the moon. If you’re dumb enough to buy into that you deserve to lose your money, kind of like trading. The first week I got annihilated. I guess that was part of taking my lumps and learning along the way. My chart vision is pretty dialed. I can be confident in that and make trade plans based on them. When you follow through on your ambition it will create consistency.

Before we hosted this discussion, our guest from the community, “Zep” (same name in chat room), sent us a lengthy email that had me quite nervous. I don’t want to offer up any spoilers, so all I’ll say is that while we as traders certainly need to strive for the best and hold ourselves accountable, we also don’t want to go “too far” in accountability. It’s a fine line for sure and an interesting gray area of the market and personal growth as a trader. I thoroughly enjoyed this conversation as it allowed us all a deep dive into trader psychology and the angle of personal accountability. Notes: Today we catch up with community member Zep. We start off talking about his current trading issues, mainly being his consistency. With his schedule as a musician it makes it difficult for him to maintain a normal schedule. Zep wanted to focus on directional trading but the problem was the hours he works. After talking with some community members he had his eyes opened up to the practically 24 hour futures markets. This gives him the ability to trade past normal trading hours. A problem Zep has been dealing with is taking his profits too soon instead of letting them go to a logical target or trailing his winners. His goal is to make fewer trades and stay in longer. Most of his current problems come from his mental state. He knows how to trade well but the emotions cause him to make costly mistakes. Now he has a certain rule set regarding when to stop trading for the day. Another thing Zep has to work on is accepting that there is no 100% hit rate in trading. He needs to be more accepting of the uncertainty that trading entails. His trading strategy is sound but he is continuing to work on the mental side which does take everyone a different amount of time. Quotes: My overall problem has been consistency. There’s a variety of reasons for that but consistency is what I’m going for. I like directional trading because you can make good gains. I’ve been trading more to survive than to grow. Not that I don’t want to grow… If I start out red, it’s a different mindset. It’s a lot harder. It’s a total mental thing. I had to go through this... The first couple of days I was beginning to question my ability. Links: https://claytrader.com/podcast/episode040/

This is one of my all time favorite episodes. I don’t want to offer up spoilers, so all I’ll say is that if you ever find yourself feeling sorry for yourself or letting the victim card mentality “sneak in”, remember our guest, “Zee”. Zee is a member of the chatroom and someone I had the pleasure to meet at our Florida meet-and-greet event. I still remember talking to him in person and being blown away by his story and genuinely motivated and inspired. Those are not empty words either… in fact, I found his story so inspiring that I invited him over to my other podcast, The Money with Clay Podcast for a more in-depth discussion of his life as a whole. Like I said, I’m not giving any spoilers other than saying, if you need even the slightest bit of inspiration or motivation, Zee’s story will provide it for you without doubt! Let’s get to it! Notes: Today we interview community member Zee. In 2012 he came to the United States because things were not going well for him in his home country. Since he only knew a little English, he had to start with some humble jobs. After a little bit of time he truly got on his feet. Zee started a family and a business. Now that he had extra income every month he learned about trading from a coworker who was using Robinhood on his phone. Zee realized that there was no need to rush into trading and throw money at something he didn’t understand yet. After looking at various trading teachers, he ultimately chose to go with the University program based on all the content included. Since his work is mostly seasonal, he had time in the off season to study the material. He is big into tracking his trade statistics. Journaling is crucial to see where he is currently falling short or excelling. Zee also has a morning routine that he credits for giving him the energy to tackle the markets. Discipline has been a common theme in Zee’s life and this has definitely helped him trading too. Being competitive can cut both ways but he has been able to use that competitive nature in a positive way to push his growth in the market. Quotes: When I was 16 I realized that my life wasn’t going the right direction. It’s not that I did anything wrong. It was just the setup. I figured out later that he wasn’t really into it. He was just gambling. I had a lot of energy. I didn’t jump right into trading. I wanted to jump start trading by focusing on my education. It works for me personally. It gets me out of the comfort zone. I don’t want to be someone who just sits around and does nothing. I think I’m not great at my trade management. I try to increase my patience when it takes a while to get to my target.

This episode brings us a great talk with community member Anthony. While he’s not completely new, he is still on the journey. His original idea was to use trading as supplemental income but realized that there is a lot more potential there. As Anthony kept learning more about the markets he realized that he had a lot more to learn. He spent a good amount of time reading books and watching video online about the topic. He also realized that there was more opportunity in the US market versus the Canadian market. Currently he is focusing on trading strictly in the morning while maintaining his regular job. While he aspires to trade full time he realizes that it would be irresponsible to quit a steady job before he’s truly proven he is consistent. These are all just some of the talking points we hit. Let’s get to it! Notes: Today we interview community member Anthony. While he’s not completely new, he is still on the journey. His original idea was to use trading as supplemental income but realized that there is a lot more potential there. As Anthony kept learning more about the markets he realized that he had a lot more to learn. He spent a good amount of time reading books and watching video online about the topic. He also realized that there was more opportunity in the US market versus the Canadian market. Currently he is focusing on trading strictly in the morning while maintaining his regular job. While he aspires to trade full time he realizes that it would be irresponsible to quit a steady job before he’s truly proven he is consistent. Anthony is focusing on getting licensed in Canada to manage others money if he so chooses. Ultimately this will be an option he can choose to utilize if he would like. Options in the job market is always a positive. Similar to any profession, a key to progressing forward is the ability to recognize your strengths and your weaknesses. Anthony is familiar with where he is falling short but also realizes what attributes help him make money on a regular basis. Quotes: I do feel comfortable trading on my own but I’m not comfortable making alerts for other people. I was watching for news that would move the price. I was using line charts at this time too. One day I bought in the first 5 minutes and then it just dropped. I thought ‘it will stop, it will stop, it will stop.’ I gave back all my gains from the prior week. I’d say it’s close to 50/50 but I let the winners ride and cut the losses. Sometimes I still rush into trades and I need to work on that. I also need to spend more time on education.

Nothing like watching $1,000 disappear down the toilet with the time span of two weeks. Have you been there? I know I have when I first got started. In many ways, it’s a rite of passage to watch your own money go “poof” when you first start trading. It does not need to be that way, assuming you take the proper steps, but most people (again, myself included) don’t take the proper steps and experience pain. Fellow community member Diego shares with us his initial impressions of the market and how he thought it was all gambling. The mindset lead to headaches up front, but what did Diego do to make changes? How was his journey since pivoted? We talk about that and much more thanks to the honesty and bluntness Diego is willing to provide. Notes: Today we speak with community member Diego. His introduction to the market was fairly recently. He thought that putting money in the market was the equivalent to gambling until he started to do some research. He funded a $1,000 account with the idea that if he were to lose it all it was no big deal. That account had a short life span of about 2 weeks. He attributes this to the large commissions that his offshore broker was charging. Diego opened another account with more capital with a slower growth strategy. Unfortunately that sneaky voice of greed in our heads led him to think that this slow growth was not fast enough. Trading was meant to be the bridge between the money he had currently and the money required to invest in real estate where he lived. While everything was on target it was just not at the speed he wanted. After investing in his education and learning more about options trading, he thought this might be a better use of capital. Ambition cuts both ways. Since Diego wanted to fast track his progress he was consuming massive amounts of education in a very short period of time. He gave himself 6 months to get ‘educated’ but only made it 3 weeks before live trading again. Clay and Chezz suggest that Diego focus on advanced options because it sounds like it would suit his personality the best. Quotes: I didn’t know what made the prices go up or go down. I just heard the horror stories of people losing a lot of money. All the videos I watched were successful videos… they showed you what happens when you win and I thought I could duplicate that. Those greedy voices in my head told me that I could be growing my account faster if I was past the pattern day trader rule. I’ve alwys been the guy to wing it. Do some research and I’ll be able to pick it up after a little bit. Looking back, that’s not the right approach to the market. As soon as I got into a trade I’d basically forget everything I learned and ride the high…

We cover quite a bit in this discussion with fellow member Keith (same name in the chat room). We once again see that “free” is not actually free when it comes to YouTube videos and also how strategy hopping works and the hinderances it can create. The overarching point of context here is that Keith left his full time job to focus on trading, which, is a gutsy thing to do. If you are thinking of doing the same, or perhaps already have, this discussion will give you some great insight into what has happened and will probably need to happen. Let’s get to it! Notes: Today we talk with Keith who goes by the same name in the community. Unfortunately he invested in some penny stock guru which didn’t ultimately lead to anything but it did spark his interest in the markets. After buying and holding some mining stocks, Keith realized he needed to learn from someone who knew how to trade. This would require more than just watching people on YouTube. He enrolled in Claytrader University and left his job to focus on it solely. Even after going through the courses, Keith realized he still needed to focus on his consistency. This is a function of the emotions that play into trading the market. Discipline is crucial for the type of trading he is working on. Keith has tried a few different styles of trading but recognized that he needed to decide on one and give it a real chance. Considering he works 30-40 hours a week, he noticed that he should focus on longer term swing trading. Quotes: I never took the time to go into fundamentals. Now it’s just all charts. I don’t have the patience for anything long term. Now I drive Uber and Lyft. That was my plan going into it… having some kind of consistent income as well. I don’t want to be a strategy hopper. I’m getting more comfortable with it as time goes on. Links: https://claytrader.com/videos/risky-trader-goal/

One of the great things about the market is the lack of age requirements. If you have a passion and want to embark on the challenge, then let’s go!, it’s open to everyone. In this episode, we sit down with Adam (chatroom alias “EwokAvenger”) who is still in college. I first started back in college so I always find these journeys interesting as I can normally relate to many aspects. The part that always surprise me is that even though I’m “older” now, there are still many things you can learn from someone who is technically younger than I am. As a small example/spoiler, I really enjoyed his logic and reasoning behind his strategy towards ensuring if does not get himself stuck in the “education loop” like many do. Adam is a young guy with lots of upside, and it was a beneficial discussion so let’s get to it. Notes: Today we talk with Adam who goes by EwokAvenger in the community. While he is still a student, his college education is focusing on business and finance to ultimately become a financial planner. Even though Adam has formal training regarding general market principles, he wanted to turn trading into an additional income stream. This type of education will also have value in the field he ultimately wants to work in. He decided to dip his toe in the trading education waters by trying some low cost courses. Adam decided if trading still appealed to him after that he would invest in the University program. Just as planned, he learned some basics but wanted to take it to the next level and enrolled in the program here. Adam set an arbitrary timeline for when he wanted to start trading live. We speak a lot about how some goals are very risky. The reason he set this target date was to ensure that he didn’t get caught in a permanent education loop where he would never put on a live trade. One of the keys to success is determining your end goal and designed a plan to help get you there. While there is always twists and turns, being as best prepared as you can will give you the best odds for success. Adam is well on the path for multiple aspects of his life. Don’t be afraid to fail. Quotes: I have a very good online BS detector. I remember seeing some gurus’ and realizing they were just selling something. Clay talks about the education aspect of trading, not the lifestyle aspect. That makes more sense to me. If you’re day trading, not refining your skills, and your trades are not getting better, it’s time to step back and look at the bigger picture. Get good at the basics. That’s my style. Once I see its working I can then add to it or expand and develop. I have a literal checklist. I’m an Excel fan.

My world was unexpectedly turned upside down with this discussion. I’ll admit, at times my views can be quite rigid; however, hearing this person’s story has shown me I maybe need a different approach at times. With all that being said, the pathway and moral-of-the-story was once again the same (and yet another data point): no excuses! Our guest, Ethan (“qualia” in the chat room), had an upbringing that caused him first need to do some heavy lifting in order to change his mindset, but after doing so, he’s built himself a nice life and is now expanding into trading. The trading journey is still young, but given his mindset with his work ethic sprinkled in, there’s no doubt he’s going to be doing great things. I truly enjoyed this discussion and I know you will too. (in fact, I enjoyed it so much I also had a longer discussion with him on my The Money with Clay Podcast) Notes: Today we interview community member Ethan who goes by qualia in the chat rooms. While running his business in California, he met a broker who actually cared and tried to help his clients outperform the market. After looking at all the fees, Ethan wondered why he shouldn’t just buy stocks himself. Considering his upbringing, he realized that he had conflicting thoughts about money. This has led to swings in his income over time. He needed to change his thinking and this would ultimately be the turning point for him. After visiting some friends down south, Ethan realized that his money could go much further in the real estate market there over the California market. After getting established at their new home, Ethan decided on a date to which he was going to enroll in Claytrader University. Now that his finances were in order, he spoke with a broker friend of his and realized that he could learn how to do this himself. Regardless of his new plethora of knowledge, the next hurdle to overcome is the emotional side. He knows what he needs to do but it really counts when the rubber meets the road. Quotes: Somehow I got in contact with a broker and this guy was so caring. He always made sure he was helping his clients. Thinking differently was like an exercise and building on it one small step at a time. We had some friends that lived down south. I could start up my business again and I could buy real estate very cheap. People use brokers because they are afraid. They don’t want to do it. They want to put it in the hands of others. I actually have to sit down and make a plan and test that plan until I know it works. That’s the hardest part.

It’s different for everyone, but many times, the wake-up call in regards to, “Hey, slow down!” comes in the form of a nasty account fire. Thanks to some very honest candor on this episode’s guest, Josh, we all get to see (or reminded of) how dangerous the markets can be when approaching them without an actual plan. Sure, it never feels random at the time while everything is playing out, but just because things seem to be going okay does not mean you truly have a logical plan in place. From where Josh started to where he is now is night and day; however, he still has room to grow and plenty of things to work out, including trade management which we dig more into with some live coaching. Josh is a solid guy who offers up many things that others may not disclose, but in doing so, he helps bring a very realistic light to the pitfalls of trading. Notes: Today we talk with community member Josh. His introduction to the market was during his time in the military. At this point in his life he did not have any time to spend getting educated further on market principles. Josh’s friend was big into marijuana stocks. This was toward the tail end of the big pot stock run that happened 4+ years ago. Following his advice he took his account from 300 dollars down to 80. This is when he realized he wanted to learn from someone who knew what they were doing. After investing in his education he began to practice. He waited until he had over a 50% success rate before he decided to fund a live account. Since he has a full time job and doesn’t have time to focus on the charts all day, Josh decided to swing trade using the daily chart. Currently Josh is struggling with management of trades. While he has a great hit rate, if you trail your stop too tight you are hurting your overall profit by cutting good trade ideas short. After digging into his feelings toward money, Clay determines it might be best for Josh to reduce his position size. This should help him stomach losses easier and hold winners longer. Quotes: I tried to trade a couple. One worked. Another I had to hold for about a year and a half. Originally I tried using the 15 minute chart and riding it all day long but that didn’t work. Now I use the daily. I had more success with the breakouts instead of the pullbacks. I kept getting whipsawed out of the pullbacks. It makes sense but I have to get over this mental thing I have about it. Nobody likes to lose but I don’t go crazy if it goes against me. Discipline, consistency, and don’t cheat yourself.

In this episode we welcome back long time community member Dave (alias in chatroom, “SuperDave”). Like some trader’s goals, Dave wants to eventually quit his full time job so we can work from home and be his own boss as a full time trader. While Dave has not yet accomplished the goal, he is well on his way and has actually cleared a key hurdle – that being, going from “full time hours” at his job to now only “part time hours”. How did Dave know when to make this jump? How will he know when it’s wise to make the move to “full time”? We talk about this and much more. Whether you are looking to also quit your job to become a full time trader or just want to pick up some nuggets of wisdom, this conversation has something for everyone. Let’s get to it! Notes: Today we speak again with community member SuperDave. To recap, Dave joined the community first to test the waters. During his earlier times here, he recalls being called out for trading without a true proper education or background. This led him to step back and reevaluate what his overall goal in trading was. After opening and closing 3 different accounts, Dave decided to focus on only trading SPY because it is extremely liquid and presents trading opportunities almost every day. He would use his account value to determine the amount of contracts he needed to trade. Dave started slow and steady one contract at a time and now is able to trade quite a bit larger. Dave had an ideal time frame in which he wanted to transition away from his job, retire, and trade for income. He missed his first two targets due to personal and family events but has maintained his longer term plan regardless. He has a strict routine and criteria for trading which he utilizes daily. It is this amount of seriousness that has set Dave up for success and why he is getting very close to his longer term goals of full time trading. Quotes: I knew right away that I was being called out because I didn’t really know what I was doing. It’s all about controlling your emotions. You’ll figure out a trading style fairly quickly but then you have to discipline yourself to stay with it and trust it. I don’t take a lot of risk with my money. Now is not the time to take on risk… now is the time to take on growth. Over time, things change and you become more comfortable from looking at it over and over. It becomes much more predictable. I’ve had some pretty large losses that were hard to swallow. Wondering why I was still in there and letting it go further and further. Links: https://claytrader.com/podcast/episode055/

The sooner we teach/show/demonstrate to kids and teenagers the various aspects of money, the quicker we are setting them up for longer term success. We have an awesome example of that thanks to a Grandpa leading by example. Our guest, Kainoa (same alias in chat room), had great parenting which jumpstarted his financial journey and has lead him to focusing on goals that will benefit him greatly. This is a discussion for both young and older traders as there are multiple angles and viewpoints that I believe can offer helpful insights to all. Let’s get to it! Notes: Today we interview community member Kainoa who goes by the same alias in the community. He remembers when he was in college his grandfather took him with to his financial advisor and started to learn about compounding interest. Kainoa saw a friend of his posting on social media about trading in the stock market and inquired about what he was doing. This led him down the rabbit hole of Youtube and trading. He was smart enough to see some red flags for who was trying to sell people a lifestyle versus a systematic approach. After taking extremely detailed notes on the courses, Kainoa started trading live which entailed some success and some failure. Revenge trading was a stumbling point for him but it’s more important that he recognized it early. Kainoa is extremely intelligent but his ambition is also his worst enemy. After realizing that this will be a slow and steady process, he took a step back from the market and reassessed his goals. This led him to a longer term time frame look at charts and continuing to enjoy the fruits of his full time job. After talking with Clay, there are some options presented that may fulfill a few goals Kainoa has in regards to swing trading and day trading. They also have a good conversation about personal finance in terms of funding other accounts and heading toward future goals. Quotes: It was pretty cool seeing my grandfather go through his retirement portfolio. Before I got involved I knew I wanted to do it properly. I wasn’t willing to invest in these guru’s because they seemed a little shady to me. Those losses would lead to revenge trading where I would repeat the same thing… being to aggressive and being emotional. I would categorize my trading as sloppy. I’m so eager to trade I take a wide variety of setups.

There is no avoiding it. As annoying and frustrating as it is, being wrong and having losing ideas is all part of trading the markets. Fellow chat room member Murray (alias in the trading room, “murman”) tells us all about how he has learned to become comfortable with being wrong. We go down many other worthwhile rabbit holes too; however, in reflecting back on the discussion, the battle with losing is what stuck out to me. Probably because it is the one common ground we all have as traders. Oh, and I haven’t even mentioned how a 14 month jobless period factored into his overall journey. Needless to say, we had plenty to talk about! Let’s get to it! Notes: Today we interview community member Murray who goes by ‘murman’ in the community. He realized that when you have any amount of money, you should learn how to utilize it in the market. This guided him toward learning about technical analysis. Unfortunately, Murray was part of a down sizing round at his job and this led to his unemployment for 14 months. After he got another job and back on his feet, he started to look into more macro relationships and how it impacts the global economy. After going through the options course here at Claytrader.com , Murray decided to invest into University and has now gone through the courses. What he enjoys the most is that when he feels uneducated about a certain indicator or strategy he can go back through the material and incorporate it into his trading thesis. An important thing in trading is understanding your comfort level with regards to position sizing. After some tinkering, Murray has found the amount of money he is comfortable losing if his positions do not work. This took some trial and error. Quotes: Every time I tried to research the market I stumble upon information on fundamentals and I can hardly keep myself awake to absorb that stuff. There are phases you go through to learn to trade. The first phase is learning to read a chart. If you can hit 40% of your trades, you can make money in the market and that’s about average. Solidifying those things down into trading rules instead of generalizations is key. It is very very thorough. You don’t need to watch this ten times to realize a concept. It’s point A to point B to point C with nothing missing.

This is Part 2. Be sure to listen to episode 181 in order to hear Mike’s entire journey. Mike (chat room alias, “afroge”) and I pick back up our discussion with a deeper look into his actual trading strategy. Although I am not someone who uses a whole lot of fundamental analysis myself, it was still an enjoyable conversation hearing about how he mixes fundamentals and technical together. For you longer time listeners, you’ve heard it said time and time again, but there is no Holy Grail in trading. It’s all about finding what works for you and going with it – we get to see a detailed example of exactly this thanks to Mike’s willingness to share. Notes: Mike talks about how earnings are essentially a forecast for the future. It’s intended to show the value a stock has at a later date based on what they’re trying to do. If stocks were only priced on current value it would only utilize assets and liabilities in a simple math formula but that’s not how the market works. Clay and Mike talk about HMNY and the various red flags that presented itself. There is lots of information in the fundamentals that should have prepared investors to realize there was a concentration in that business. He talks about his easiest trade that involves momentum and reversion to the mean. Utilizing fundamentals and technical analysis is crucial for Mike to catch the meat of the move, whether that is to the upside or downside. Mike utilizes advanced option spread to facilitate his trades. He can construct these strategies so that he can only lose money on one side of the trade with a cushion even on his downside. Since his strategies involve multiple legs, he’s taking advantage of people who don’t understand the math behind his trade thesis. Quotes: Stocks are valued based on the future. If it was valued on today’s amount we would take total assets versus total liabilities. Just be aware of your surroundings and that instantly makes you better than the average trader. For me personally, the first thing I look for is swing activity in value investing. That’s the easiest trade you can ever make. If you’re good at math, good at setting up investment thesis and an option play that make no sense to the buyer, as long as they don’t understand the math you make money over the long haul. If you’re not willing to learn you will get punished.

The sheer bluntness displayed in this interview I found completely refreshing and… well… honest. There is no need to sugarcoat or beat around the bush when it comes to how the market actually works. Bottom line, if you show up to trade and are underprepared, there are people out there who will take advantage of that fact and punish you. Our guest, Mike (chat room alias, ‘afronge’), is one of those “punishers”. He has a great story and many insights on the market (hence the two part episode), but the one that stood out to me the most was how ignorance is costly. The market is a living breathing creature that sets up knowledgeable traders (such as Mike) to benefit against the ignorant/cocky traders. The cool part is, the market is also fair. You have a choice on which “kind” of trader you want to be. I’m confident Mike can motivate you to take the slower and more effort required route of becoming knowledgeable and then a PUNISHER! Notes: Today we talk with community member Mike who goes by ‘afroge’ in the community. He was introduced to the market at the young age of 6. While he was stuck in the hospital after a surgery he discovered what is now CNBC. Years later he discovered a publication called Value Line. This was very eye opening to Mike since he was able to see how these companies would grow over time. In his teenage years after working odd jobs, he decided to put just over $1,000 into the market. As he progressed through college, after changing his major and getting a masters degree in accounting, he was able to find a few jobs in the financial industry before ultimately becoming a consultant. Throughout this journey, Mike continued to expand his education to be more than just an accountant. As he progressed in his career he was forced to navigate lots of red tape that is involved in the world of finance, which led to him only being able to swing trade a limited number of names. He eventually realized this was not what he desired to do. Quotes: If you can watch TV and make money, keep in mind I’m in 3rd grade still, that sounds like a lot of fun. That was a big wake up call realizing that I’m never going to be a music major. I needed to find something to make money and something I’m good at. I learned investor relations, strategy, financial planning and analysis. This was good because it wasn’t traditional accounting. I know what I’m good at and what I need to learn. I’m not going to throw a large sum at a 5 minute candlestick chart when there are things I’m missing.

It all started with betting on sports. From that point forward, the pieces fell into place that allowed for a transition into the stock market and trading. Our guest, Burak (same name in the chat room) walks us through his journey of transitioning from sports to trading. The one benefit Burak had in his favor was he never treated sport’s betting as a random gamble. He approached it in a very methodical way which he wisely then carried over to his trading ambitions. Even if you don’t have any experience in betting on sports, there is still many nuggets of knowledge to collect from his experience. As someone who has never bet on sports, I really appreciated the business aspect of how he treated both like a business and not a gambling addiction (which unfortunately, many people do). There’s lots to see and learn from Burak, so let’s get to it! Notes: Today we speak with Burak who goes by the same alias in the community. He spent some time in college sports betting which taught him the importance of risk versus reward and managing your bankroll. After dabbling in the market with smaller amounts of money in more risky names, Burak started to invest in his education on top of all the information he acquired from YouTube and Google. Being someone who loves statistics, he originally leaned toward the algorithmic or automated trading. Ultimately he wanted to improve his day trading and had enjoyed trading the forex market. In the beginning of 2018, Burak joined Claytrader University because he honestly felt like it was a value buy with the amount of content you get versus the cost. Since his job is so demanding, Burak is focused strictly on swing trading. While he hasn’t investigated advanced options yet, Clay and Chezz ultimately suggest he takes a look because we consider it to be ‘swing trading with an edge.’ There are quite a few things that distinguish successful traders from those who fail. Burak treats this as a business and has an entire business plan outlined in terms of what he looks for regarding entries, exits, and in progress management. It’s consistent effort like this that distinguishes who succeeds and who does not. Quotes: It wasn’t until college where I was gambling a lot on sports betting. It has some relations to the stock market in terms of knowing your risk and knowing your reward. The first part was understanding technical analysis. The second part was the psychology part of it which I didn’t know about. In the back of my mind I always wanted to get back into day trading. I like forex. It’s 24 hours. I use full leverage but I have my stop losses set at a certain percentage so no matter what I don’t lose my whole account in one trade.

I still can’t quite put my finger on it, but the way self-awareness as a person and trader was presented and explained truly intrigued me. Our guest, Wojtek (chatroom alias ‘Surlymac’), started out with dollar signs in his eyes and wanting the good life. As he will explain, in very self-aware fashion, this lead him to become blinded to logic and reasoning. When logic and reason go out the window because of greed, this opens up the emotional box of demons… the big one for Wojtek being stress. In fact, as I write this and think about it, the way he described his situation is that of absolute misery… ugh! If you take nothing else away from the interview, please take away the power of being honest with yourself when reflecting. It becomes much easier to fix things when you acknowledge them. I know you’ll enjoy this discussion, so let’s get to it! Notes: Today we interview community member Wojtek who goes by Surlymac in the community. After looking for some more ways to earn money, Surly ended up finding ‘gurus’ who pitched their wonderful lives as a result of trading penny stocks. After falling prey to the Stocktwits group think trap, he was broken both mentally and financially after a string of losers. He had heard of Clay and his nonexistent ‘shorting army’ shortly after this and he figured that if he couldn’t beat them, join them. After talking with Chezz and finding out that shorting army did not exist, he still decided to join the community. After a few days as a member, he enrolled in the University program. While he was learning a lot, this actually made him more dangerous in terms of trading. He knew enough to think he had solid plans but still wasn’t able to see the larger picture of what trading really entails. Surly eventually realized that trading advanced options fit the best with his personality because he could define his risk from onset of a trade. This allows him to sleep easy at night knowing that even if the market completely collapses over night, his max loss is capped at a level he is comfortable with. Along with finding strategies that work best for him and his personality, Surly now focuses on a smaller basket of stocks to focus on and this leads to a higher success rate for his trading. Realizing that success does not come overnight, he understands that consistency is what ultimately wins the game. Quotes: I was sitting on Google looking for easy ways to make money. Lots of videos with Lamborghini’s promising millions. You presented information in a very dry way. This piqued my interest. Also, everyone hated you. I realized how much I didn’t know and how dangerous I was. Robotic Trading showed me that there is so much beyond just one course. One of the big things I took away from last year was that I have time. I don’t like to see red. If it’s within the trade plan, don’t react. When I first started I was anxious, excited, fearful, joyful, the full gambit. Today, trading is incredibly boring.

It’s always great to have younger people on the show as it demonstrates how the markets are for all ages, no matter your experience level in this thing we call life. Our guest, Matt (his chat room alias, “dewolf”), walks us through his journey thus far into the markets. Matt’s journey is one I feel many will be able to relate to, but with that, also be able to take away from bits of information that can be used to avoid potential pitfalls. Although he is younger in years, those years he has lived and experienced the market have already begun to shape and mold him into someone that is giving himself a real possibility of long term success in the stock market. No matter your age, what Matt has gone through can and will assist in streamlining your personal journey, so please don’t’ dismiss him because of his age. Let’s get to it! Notes: Today we talk with Matt who goes by ‘dewolf’ in our community. He was gifted a book while still in highschool called “The Teenage Investor” but completely forgot about it until he got to college. After actually reading the book and reading that it explicitly said ‘do not day trade,’ this led Matt go look further into that topic. A quick google search had revealed tons of articles for him to dive into. Matt and his friend joined an investment club in college and purchased the Options Trading Simplified course for the club. Most club members didn’t truly appreciate using a cash account to avoid the pattern day trader rule. He paper traded for a bit and then funded an account to take live. While he currently utilizes options, he has the ultimate goal of trading stock outright. While he is confident in a few specific setups, Matt would like to broaden his horizons in terms of setups and also work on the mental game that trading requires. Quotes: I kick myself everyday not picking that book up and taking it seriously sooner. It went up a couple of cents and then it completely dumped. Nothing crazy or huge but that was my first trade in the stock market. All these people were economics majors, not traders. They were all very interesting and it opened up the other side of trading. Eventually I’d like to join University and learn about advanced options. I want to learn how to leverage using options over time.

What does it look like to go about becoming a full time trader the right way? Thanks to our guest, Geoff (chat room alias, ‘CrestronWizard’), we are given a perfect example of how to wisely make this transition. Here’s a minor spoiler: Geoff did not wake up one morning and randomly decide he wanted to be a full time trader, there was a bit more planning and preparation that went into the decision. We’ve talked with Geoff before about a year ago, so it was great to hear how his journey has continued to unfold and what steps and experiences he has gone through to give him the best odds of success. Notes: Today we reinterview community member Jeff who goes by ‘CrestronWizard’ in the community. To recap, Jeff used to trade penny stocks and went as far as becoming a distributor for one of the companies he became heavily invested in. With the intentions of becoming a full time trader, Jeff took the necessary steps to give himself the best odds of success. He had essentially crushed all his debts and had an emergency fund with over 6 months of living expenses. Jeff also has four income streams. He initially started trading long options and while he found initial success, ultimately he realized that he struggled to set stop losses when trading far out of the money options. This led him to investigate trading advanced options. Jeff has an ideal account size he is striving to get to before he ever starts taking withdrawals to pay himself. Since he has multiple streams of income, this is a very realistic probability for him assuming he sticks to the path he has laid out. Quotes: I was looking to start trading in October but didn’t start until January. I started with 5 grand and it was going well to start. My biggest issue in trading, whether it’s pennies or anything, is knowing the right time to sell. Knowing how long to stay in. It’s better to trade often, be mechanical, and get out instead of trading 10 times a month and hold out for max profit. Links: https://claytrader.com/podcast/episode131/

There is nothing worst then someone who agrees with every little thing you say in every little way possible. I’m thankful to say this is not the case in our discussion with longtime member Charlie (same name in the chatroom). I had the pleasure of meeting Charlie at our Denver meet-and-greet and I can say from personal experience he is a quality guy who is not a “yes man”. Because of this, we had some good solid animated discussions about trading and his current situation that will hopefully help with his ambition. A cruel part of the markets and trading is how ambition can be used against a trader and as you’ll see, this is Charlie’s current struggle. It’s a fine line that we as traders must walk, and I hope that due to Charlie’s openness this is something you as a listener will learn and benefit from. Let’s go! Notes: Today we talk with Charlie once again. To recap, Charlie started trading penny stocks before eventually investing in his education. After realizing he didn’t know exactly what he was doing he decided to pump the brakes and focus on education and practice before reentering the market. Charlie realized that most of his liquid net worth was in his trading account and he decided that this was just too much so he decided to trim down to a smaller amount for trading specifically. Since he had now gone through the University program, he thought this was his year to triple his trading account. Unfortunately he lost about 50% of his account and decided to step back. When he came back to the market he decided to focus on trading shares instead of options or penny stocks. He funded an account with a set amount where if it dropped 200 dollars he would stop again. He also recognized how much his trading dictates his emotions. Charlie wants to succeed so badly that it actually hinders his ability to be profitable. This is how important and powerful your mind is when it comes to trading. While some people thrive under pressure, too much unnecessary pressure is never helpful and Charlie is now realizing that the world will not end if he does not succeed. This allows him to be open to trading what the market has to offer no matter what the result. After discussing what his overall monthly and weekly goals are, Charlie is realizing that he hits his quota quite often if he were to take his profit when it presents itself. Quotes: I realized I didn’t really know what I was doing. Eventually I made 2 grand and CTU just happened to be 1,997. I realized that most of my trades were green at some point, not a huge amount. Those breakouts just never happened. It was amazing to me how dramatic I am in my own mind. I’m the most dramatic person I’ve ever met. I don’t know if I had any day trades. Day trades for me are exclusively for stop losses. You never want to use 2 out of 3 in a week. Links: https://claytrader.com/podcast/episode064/

We have ourselves a shining example of why it is ignorant to make blanket statements when it comes to the millennial generation thanks to our guest. Ashton (alias in the chatroom, “bmxashton”) is a young guy doing all the right things. Yes, it can easily be argued that perhaps he is missing out on “things” in the short run, but looking at the big picture, he’s clearly setting himself up for success. If you are someone in younger years, I would argue this interview is a MUST LISTEN for you as you’ll see what is possible when you truly focus your mind and energy. Even if you are someone older such as myself, there is still a ton of value… for me, the biggest value was simply inspiration and motivation to keep working hard… which is something we should all be doing, no matter our age. Get ready to have excuses crushed from every direction! Let’s go! Notes: Today we interview community member Ashton who goes by ‘bmxashton’ in the community. His introduction to the general market was a Dave Ramsey show where he talked about various ways to invest. He first invested in a CD but made hardly anything after 2 years. Ashton initially was focused on investing but wanted to get more involved. This led him to looking into penny stocks. He was using StockTwits and while he got burned on a few he didn’t blow up his account. He was always quite frugal with his money because he recognized very early on that he can set himself up for the future with hard work now. Ashton initially funded his swing trading account with 7-10 thousand dollars at 20 years old. After being unable to find consistency in his swing trading, Ashton stumbled upon Clay’s live trading videos and his strategy intrigued him. Fast and consistent gains was the overall goal. While still being in his early 20s, Ashton has 3 forms of income. This hustle has led him to have an account that is over 25 thousand dollars as to avoid the pattern day trader rule. He has also structured his other jobs to allow him to trade every morning and focus on quick fast gains. Quotes: I learned about penny stocks and the mentors that came with it. I wanted to learn all I could before jumping in. Sometimes it would work. Just a couple pennies here and there and I’d take the small gain but most times they were selling into me. I would try to look for potential swing trade ideas while eating lunch. It was a mess for sure. I was more so paper trading at this time using pen and paper. I practiced for 6 months in my down time at work. I didn’t take it that seriously at first until I realized it could be a great income source. Take it seriously and invest in education.

We have situation that I think many people can relate to if they are honest with themselves. Depending on how you were raised or simply your general understanding of the markets, it can really create a challenging mental situation for yourself when you transition into the world of trading. Our guest, Evans (better known as "reboot" in the chat room) walks us through his journey and we go down some solid rabbit holes that really demonstrate why a common problem exists for many traders out there. I don't want to spoil anything, but if you find yourself struggling to cut losing trades and/or honor stop-loses, then you may be fighting against the same challenges Evans is. In other words, make some time for this episode as it could very well get you on the path you want to be on. Notes: Today we speak with community member Evans who goes by ‘reboot’ in the community. A few family friends started an investment club and this was his main introduction to the market. Evans was in charge of his father's finances as he aged and to his surprise, he saw his dad had stacks of paper stock certificates and eventually turned them in to his broker. This made up the majority of his retirement. During the financial collapse in 2008, Evans was quite nervous as his father’s retirement account had suffered a 50% drawdown. He was torn between the idea of selling or holding during the fall. He comes from an investing background (over 30 years) and this is leading to an unfortunate mentality while day trading. While time is on your side investing, time is NOT on your side when you are day trading short dated options. While members are proud to show their gains to the community, this can sometimes lead to feelings of FOMO and while it was an issue for Evans at first he has conquered that now. He has the ability to spot opportunities himself and form his own trade plans. Quotes: In order to do any research on companies we had to physically go to the library. We only invested in companies that had dividends. I didn’t have much money to invest because children and life but it was fun to watch it on a day to day basis. You know, I want to learn more about technical trading and charts. I want to be a better trader so I joined the Inner Circle. That can be addicting to have a couple of wins and feeling good.

Things all started in a junkyard. From there it was infomercials, trading robots and everything in between. I don’t want to ruin anything with details, but I will say our guest from the Inner Circle community, Trae (“traecampell77” in chat room), is a shining example of passion must be at the forefront of this business we call trading the markets. When you truly enjoy something, you can push through essentially anything thrown your way as you’ll see. Trae was a great guy to talk with and there are many things, big and little, you can learn from his journey… some of which will prove to be some money savers for you. Let’s go! Notes: Today we interview community member Trae. We commend him for pushing through with this podcast while being covered in poison oak. His introduction to the market was at an early age. His family owned a junkyard so he would hear them discussing metal prices and this intrigued him. One late evening, Trae stumbled upon a forex infomercial and he started to play on the demo without knowing what he was really doing yet. While he had a lot to learn, he discovered a love for the market which provides the motivation to learn more and trade better. He purchased a trading robot as well with a ‘100% win rate (because it holds a position until it’s profitable).’ It took him around 6 months to get out of the red and finally close his positions. This led to him taking a break but his interest in the market never left. During his break, his family opened up a car dealership and as it got more profitable Trae found more time to focus on the markets again. He made the move from scalping to swing trading. Trae realizes that psychology plays a huge role in trading. He has spent a considerable amount of time watching his own mentality and then also using crowd psychology to spot trade opportunities. Quotes: As a kid I would always hear ‘metal prices are up or down.’ I didn’t understand then but I was interested. I started trying to put it all together but it was a nightmare. There was nothing solid about it. But I loved the market. I shut the account down and walked away to take a break but something was always calling me back to those charts. Areas to improve always include psychology and removing emotion. It took 6-12 months to learn how to lose properly.

I don’t think I really need to say much other than this is Part 2. If you listened to Part 1 (episode 171), then I’m sure you are ready to go given the cliff hanger we left you at. So with that being said, let’s pick back up with long time community member Paddy in his wild trading journey. Notes: After having a successful four days and going into the last trading day of the week, Paddy unfortunately gave back all his profits and then some. This led to some screaming and a visit from some folks walking by to check what was going on. Paddy was able to identify pitfalls he had in his mentality. Being a competitive person does not help you as a trader since it sometimes makes you break rules. There needs to be emphasis on adhering to the plan whether it is profitable or you stop out. The mental side is what Paddy is currently focusing on. He attributes this to why people either follow their trading rules or break them and generally end up feeling the pain. This is partially why he decided to trade options instead of equities. Patience is key in all things related to trading. Patience with the trade, the journey, the failure, the accumulation of experience. Quotes: I was up 400 on the week and I woke up on Friday and said ‘just don’t blow your week.’ In 30 seconds, I had blown my week. The biggest challenge I’ve had to overcome is that you have to be able to take small losses. Options give me defined risk. If you put 2,000 on the line and those options expire worthless, that’s all you lose. If you can’t control yourself, having an automatic fail safe is going to save you. Links: https://claytrader.com/videos/stock-trading-quick-tip-redefining-stop-loss/

We bring back a guest who many have said was their all time favorite. He was the first person we ever did a two part episode on, and once again… we have ourselves a two part episode. Our guest, best known as “Paddy” in the trading room community, takes time out of his schedule to update us on all the happenings since his last podcast appearance. I don’t want to spoil anything, so all I’ll say is if you’re looking for someone who is energetic, passionate, and holds nothing back on the honesty front, I can guarantee you’ll enjoy this discussion. Buckle up for another wild ride! Notes: Today we talk again with community member Paddy. After a quick recap of the previous two episodes, we hear about his journey after that. A big turning point for Paddy was realizing that he didn’t need to rush. He has a great full time job with lots of flexibility. He had to learn about himself and how he handled his emotions trading before turning profitable. He was having a fantastic month of June. Paddy was up 6k and on track to have his first green month since he started trading. On the last trading day of the month, Paddy ended up taking a 17.5k loss turning his month well red. It is an understatement to say that this was devastating to him. Paddy tried to keep his head up but eventually got to the point where he was near the PDT threshold and decided he needed an extended break. He turned off the charts, closed the platform and stepped away in an effort to come back fresh. Once your mindset is shot, it takes a bit to recover. Quotes: You told me that I don’t need that money. It was true. I have a full time job, my workload allows me to day trade. It was an anxiousness that was driving mistakes. I was down 25k and it was still going. At one point I had averaged in my entire accounts buying power to the tune of 200k. My biggest problem in rule breaking is blowing stop losses which is arguably the worst rule to break. Links: https://claytrader.com/podcast/episode025/ https://claytrader.com/podcast/episode026/

Time for some experimenting! We had a guest scheduled who wasn’t able to show up, so given I had a block of time available, I wanted to give something a try. You never know unless you try right? This could be an epic failure, but that’s okay… at least I’ll know! With all that being said, please give me your thoughts and feedback on this format. You will not hurt my feelings either way, in fact, I’ll thank you no matter what because I’m asking for feedback. I’ve seen some headlines out there that I wanted to address as it truly drives me nuts and I want to give my two cents on the matter. I may or may not do some ranting, but sometimes I just can’t help myself. I look forward to your thoughts and feedback. Notes: Today Clay decides to have a rant since we were stood up. His first topic is regarding tax cuts and where they have ended up. The media has used lots of word play to mislead where the money is actually going. Another article discussed is regarding 401k millionaires. It had increased 45% over the past 12 months. Unfortunately they had implied that it may have taken 30 years, almost painting saving and contributing to the 401k as negative because it took so long. The majority of America does not use a budget which is partially why it appears there has been so many complaints about the new tax cuts. Those who are smart enough to save and contribute to their retirement funds are the ones truly getting the benefit. If you fall into the majority that does NOT use a budget and SAVE, it is probably time to take a hard look at your finances. Quotes: The whole premise that you cannot benefit is a lie. It’s a misconception about how things work. More word play. Politics has nothing to do with this. I want you to really see what is being portrayed here. Here we have the majority of people not benefiting from tax cuts because in order to benefit you need to be a saver. Links: MoneyWithClay.com

We’ve done 168 episodes. I’m pretty sure this is the one that caught me off guard the most. Everything seemed fine and dandy and then our guest dropped a bit of his past life that was… well… quite intense! Johnny (chatroom alias, “johnny5000”) proves to be a massive data point in regards to there being no excuses and that when you put your mind to something, it can be done. I don’t want to offer any spoilers, but there is no doubt in my mind that you will find Johnny’s past life a very intense experience and be motivated and inspired about how life has taken a 180. I could keep on blabbing on now about how motivating it was, but I won’t do that. Let’s get to it! Notes: Today we interview community member Johnny who goes by johnny5000 in the community. His introduction to the market was the game of Life. The way the stock market works in that game is that you put your money down and spin the wheel. This led Johnny to believe from very early on that the market was just for gambling. Johnny got caught up in some hard times which lasted many years but after a long road to recovery, he started a job and participated in an employee stock purchase plan. Once he realized that he would like to have more control over his investments (to generate a larger return) he decided to do some investigation into various trading education websites. After doing his research, Johnny ultimately joined Claytrader University and started working through the courses in his free time. As he continues working multiple jobs, he is taking his time going through the courses and has just begun paper trading. He also caught himself unrealistically paper trading and stopped that very early. We talk through various products that Johnny may be interested in trading based on his day job. Since he doesn’t want to have gap risk, he thinks he will focus on advanced options since he can set his stop loss in advance using various strategies taught. Quotes: I actually never had a real job for a company until I was nearly 40 years old. Every decision I make now is done with caution. I jumped in to CTU and didn’t realize you also get hours of webinars that are amazing. It’s worth a lot more than you’re charging. I have a lot more work to do. I’m not in a hurry. I’ve only been paper trading for a month. Day job, gym and then courses and webinars at night. Basically whenever I have time I just take in the material. Links: www.uptownaustincoverband.com

A blessing in disguise. I think that’s really the best way to summarize this our guest’s journey thus far. When Dave (chatroom alias ‘Daveslow’) first started his journey, he tried to sign up with a text alert service from… well… let me put it this way, a faulty source. There were a few technical glitches and when Dave approached customer service, he was essentially treated like an insignificant piece of meat. This slap in the face led him down a different path on his journey and one that has been extremely beneficial to him. Dave has a military background so when it comes to forming a plan and executing the plan, it is one of his strong suits without doubt. Through Dave’s experiences, which he shares with us in the interview, he has constructed a plan of action that I fully believe and find grounded in reality and logic. A plan is the backbone of any chance at success in the market and Dave is a shining example of how experiences shape and mold a worthwhile plan. Let’s get to it! Notes: Today we interview community member who goes by Daveslow in the community. After joining the military, Dave accumulated a good size saved up from his time but couldn’t spend it. Since he was unable to take it out and spend it at this point he decided to look into peer-to-peer lending. One of his friends recommended he look into cryptocurrencies but he felt he had missed the boat on that one. This did open up his interest to look in other markets though. After attempting to enroll in a text alert service for trade ideas, Dave’s debit card was not accepted and they did not really care too much. This led him to look elsewhere for a place to learn and ultimately ended up here at Claytrader.com . Dave fortunately never lost a heap of money trading. He realized it makes no sense to even paper trade until he had fully completed the University program and had a solid grasp on his specific trading strategy. A key to Dave’s success is that he is taking his time and using the power of a budget and practice to ensure that as he gets his trading account to the level he wants, he’ll have a fighting chance since he has taken so much time to prepare. Quotes: I didn’t know the difference between traders and bankers. I thought you needed PhD’s and huge skills in math so no interest growing up. I’m not sure why I signed up for a text alerts. I knew I wanted to trade so it’s counterintuitive to get someone else to tell you what to do. My very first trade was on a brokerage app. My trade setup was a tablet with live market data and my mobile phone with 15m delay on it. I keep adding to my account every month to get to a size that makes sense while making these tiny trades. After quite a few little losses, I don’t struggle losing that amount. Put it in the journal. I struggle more with FOMO and excitement. Links: https://claytrader.com/videos/1-penny-stock-short-scam/

Notes: Today we revisit with community member David K who we interviewed a few years ago. We find out he’s about to graduate college shortly. While he started as strictly an investor, David has been working on trading since he was 17 years old. After a frustrating bout with trading, David took some time off before coming back to the market. He realized the value of psychology and how trading is truly a numbers game. David is a shining example of the ‘no excuses’ mentality. He has worked a handful of side jobs even while being a full time student to keep accumulating capital. A big difference is that he finds enjoyment out of the various jobs instead of just complaining about them. A key to successful trading is the ability to trust yourself and follow your system. David is very proud that he has been able to stay consistent in terms of executing his trades and sticking to the plan instead of reacting to his emotions. Quotes: I discovered a new video series about psychology and how to execute these trades. Really changed the way I think about trading. I would just feel like garbage and make mistakes. There was no reason to put my hard earned money at risk when I haven’t slept. I want to execute these trades without any fear or hesitation and without making any errors. Just following my rules 100%. I realized the setup could look the exact same, every moment is unique in the market. There can be different people participating. Links: https://claytrader.com/podcast/episode083/

Make sure to listen to Episode 165 before proceeding any further. This interview is Part 2, so with that being said and out of the way, let’s continue! In the first part of the interview from last week, we heard all about Brian and the actions he put into motion to “get er’ done”, but now we move into more of the trading and the ups and downs he has been through. The one major benefit Brian has figured out is his ability to recognize and adjust to the very common “revenge trade” emotion which has and will continue to serve him well. I also found it interesting the way Brian has set into motion a plan of action that is efficient but most importantly, based in reality. If you enjoyed Part 1 of this discussion, then I have no doubt you’ll gain value out of this second section of our discussion… let’s go! Notes: A big realization for Brian was the fact that the voices are drastically different when you go from paper trading to live trading. Even though he started off losing money, he has always honored his stop loss. This level of trust in yourself is key to progressing. He is strictly focused on day trading options currently but would like to look into the Advanced Options course since that trading requires less time and effort while he works his full time job. Brian is very good at recognizing when he wants to revenge trade and other various bad habits. Recognizing it is the first step to ensuring those bad habits do not remain. Discipline is something that spans further than trading also. Considering he is a planner, one of the most beneficial things Brian has done in the process of learning is set up a pacing schedule. It’s very common to binge through videos and then only retain 25-50%. When you allow yourself only a few hours a day to absorb the material you stand a much better chance at retaining the information. Quotes: I was red the first week. What I’ve really taken away from the courses is you can be wrong most the time if you honor your stop losses. I like triangle patterns and breaking key support and resistance. And volume as well. That loss from the previous day made me second guess my entry. If I would have trusted my system I would have erased that loss. If I’m not confident in something I’m good at taking a step back and realizing I need to learn more before putting money into it.

We have ourselves a two part episode and as a fair warning, if you are someone who loves excuses and/or carries around a pocket full of victim cards, you will NOT enjoy this discussion. In fact, as I type this up and reflect back on the lawn mower, the tornado, and many other things, I can feel my adrenaline beginning to flow in a “let’s go!” type of way, this interview genuinely got me fired up in a good way. Chezz and I had no intentions of a two part episode, but as we talked with community member Brian, things were too good to just not keep on talking. I don’t want to spoil anything other than offer up that fair warning. If you are still reading this, I’d assume you are ready to get some cold hard truth about “making it happen”.. so let’s do this! Notes: Today we interview community member Brian. His introduction to the market was a stock market competition in grade school which he also beat everyone out of the entire state. With careful budgeting, Brian and his wife have set up a separate account that they call the ‘financial freedom account.’ It is strictly to be used for ventures that can expand their income. Since Brian is a teacher, he has the summers off. Instead of sitting around and doing nothing Brian went and bought a trailer, a good lawnmower and made money all summer before he joined the program here. A tornado unfortunately destroyed Brian’s house which led to a delay in his training but the good news is that everyone was okay. To help get back on track, both Brian and his wife got second jobs. Quotes: When I was in middle school I participated in a stock market competition… and I won it. I set up dummy email accounts and emailed you to see if you guys were consistent in your answers. I’m paranoid about scams. I’m probably doing too much too fast. I go to school, teach, then come home and watch the courses for hours. I have a whiteboard in my office that has paper trades I make. I was paper trading swing trading because my plan is to swing trade. Because I’m starting with a small account, if I have fake success papertrading and go live and lose it all then I have to start all over.

I love people who have ambition and follow through with it to the maximum potential. I’d argue that our guest, Peter from our community, takes this to an entirely different level. You’ll see what I mean when he talks about his photography passion…. Wow! I’ll just leave it at that. I bring that up to give you the overall context of Peter’s personality and approach to life. I found the discussion very interesting to see how someone with so much hardcore passion would implement that into the world of learning the markets and becoming a trader. Peter does not disappoint and we talk about a variety of topics and considerations that all traders (new or old) need to remember to factor into their trading approach. Notes: Today we interview community member Peter. His wife was given a bonus but it had to be paid out in stock. They could then decide how to diversify it. Peter didn’t want to be bothered with it so he put it on the ‘middle of the road’ risk parameter and let it grow on it’s own. Peter has a passion for photography so this led him to move to Iceland from Hungary. Since he left the company he previously worked at he was required to cash out the stock’s he had threw them. He did take an introduction to the stock market course but wasn’t very impressed so he didn't continue with this initial source. After going through many Stock Trading Reality Podcasts, Peter knew that this was the place he’d like to learn. After trying to find what timeframes worked best for him, he realized that he did not excel on shorter periods. The good thing is that he took the time to figure this out on paper instead of blowing up multiple accounts to find out. Peter is taking a very slow and methodical approach to the market since he has heard many stories about what happens when you jump in head first without the proper training first. Quotes: I thought the stock market was a playground for the rich people, that’s it. I just wanted to get a broker and I just wanted to start. But I decided to listen to podcasts about it first. I did try shorter timeframes. I killed myself with a noose. I tried to trade those and you know how it is for a beginner. If I started earlier I would have run into it full force and it would have definitely burned me. If you trade the plan it means you have a strategy. If you trade the plan it means you are patient and disciplined.

It’s been requested for quite some time, and here it is (I guess now is better than never?), my personal journey. I do my best to remember everything and start at the very beginning. At the end of the day, all I can really say is DO SOMETHING. Notes: Clay’s interest in numbers has been around since he was a child. From an early age, Clay’s family noticed his entrepreneurial talent and helped nurture that. It also helped that he is competitive and wants to win. A big moment in Clay’s life was happened he was a cart retriever at a grocery store. One time they were overwhelmed with work and one of the millionaire sons of the business offered to roll up his sleeves and help out. This opened up Clay’s eyes to the fact that you’re never too good to do the work required to grow/expand a business. If you couldn’t tell by now, Clay has been focused on making the numbers and math work in his favor. He worked multiple jobs and started his own business to bring in extra revenue while he was in college. Instead of going out and partying like most of this classmates, Clay decided to focus on the growing the business. It only took Clay one time to ‘fall in love’ with a penny stock and unfortunately take a 75% loss. However, this was a great learning experience for him and led him to investigate trading the market further. After putting out video charts on various tickers, he quickly became the most followed person on InvestorsHub. As time went on, Clay decided to see who was serious about learning technical analysis and launched the website. As time went on and the site grew he hired on a friend from his church who is now known to the community as IT-Nate. Shortly after, Chezz joined the team as well. Even after producing courses regarding the stock market and real estate, Clay’s true passion has always been the field of personal finance. That’s where the idea of www.MoneyWithClay.com came about. Quotes: The money just happens to be the scorecard of how well you are doing at this game of figuring out how the numbers work. It’s taught me that you’re never too good to do anything if something is going to help grow your business. I didn’t live the normal college experience because I chose to go down the path of working hard. I thought, the stock market? That’s for dweebs! That’s for geeks! That’s boring. I’d walk into a meeting and Don would say ‘Hey! Claytrader!’ That’s where the alias came from. Because I did something. Just do something. I don't know what your something is but just do it. You never know where it may lead. My true passion is personal finance. I think the reason is that it is something everyone and anyone can do. Make sure you have control of your life. If you don’t have control of your own life, how are you going to control trading? Links: MoneyWithClay.com

Warning! This is Part 2 of a multi part interview, so if you want the best experience, then be sure to listen to episode 161 first. I know Part 1 left on quite the cliff hanger, but you don’t have to wait any longer. We continue down the road with Phil (chat room alias “phl1”) on his journey and venture down all kinds of nooks and crannies in the market. We do a little bit of live coaching as we talk about an actual trade that took place as we were speaking (the benefit of doing these while the markets are open). All in all, if you enjoyed Part 1 then there is no doubt in my mind you’ll enjoy this second part just as much, if not more. Let’s get to it! Notes: Phil is very process oriented. He makes a great distinction between a mistake and an error while explaining how it impacts his confidence going forward. Phil reminds us how our body reacts to fear and the unknown which essentially shuts off our logic in the moment. Clay and Phil do a live lesson on CLSD during the interview. The big thing to remember when scalping is that sometimes you need to let the trades form and give you an area of opportunity. Phil has created an in depth business plan for his trading business. While he thinks this is completely normal, he falls into a very small category of people who actually treat trading as a business, not a day at the casino. Since Phil has prepared himself by saving multiple years of living expenses, he is prepared to continue to practice every day and continue to work on increasing his trading size. He will not get himself into a position where he can sustain a catastrophic loss. Slow and steady wins the race. Quotes: I’ve been in chat rooms where I want to go long but they’re going short so I change my strategy but I was ultimately right! When I think I’m not getting anywhere in trading and I see I’ve mastered another section, reminds me that the practice pays off. I have a paragraph about why I trade, then a paragraph about who I am as a trader… If I would have realized I could have done this for a living years ago I would have approached it differently.

This is a great one that could have went on for hours. It kind of did considering it turned into a two part episode. Part 1 takes us down the rabbit hole with Phil (chatroom alias, “ph1l”). Phil is a beast with a plan and while he still has lots to learn, there is no question in my mind he is taking this all as serious as it can be taken. From writing out a personal business plan to saving up a huge hoard of cash to get him going, Phil is being realistic and sharpening his axe to the fullest. What I enjoy the most about Phil is his brutal honesty (he doesn’t really like other people – haha!), yet, he is willing to share so that other people can learn from his mistakes. It’s sort of an irony, but definitely in a good way. Let’s start the journey! Notes: Today we talk with community member Phil who goes by ph1l in the chat rooms. His father had become ill and this led to Phil getting a hold of his father’s brokerage account to manage. After probing him about his purchase decisions, he decided to rework the strategy in hope for more consistency. As he got more serious about trading, he invested over 15,000 dollars in his education but had come to realize that regardless of how many different schools he went through that he needed to stick with just one and give it a chance. Phil paid off all his debts and was able to accumulate 4 years of living expenses before ever attempting to become a full time trader. He was still in the process of figuring out where he fit in the market in regards to strategy and markets. He pulled the trigger on Claytrader University within the first 5 minutes of 2018 and went through the courses as recommended within the first month and a half. After taking some initial losses, Phil decided to reduce his trading size and take it slow just to get into the groove. He can scale up as time goes on but he is not in any hurry. Quotes: I took the account from 50 grand to 150 grand in a few years but now it’s just kind of plateaued. I went from the top of the world to losing everything. My cash flow was negative, my savings were gone… I now have 0 debt. I put away 4 years of overhead into a savings account. I knew that was the only way. I said I was going to be the first one to sign up for CTU in 2018. I was enrolled by 12:04am. This is the rest of my life. This is my new career.

It’s time to bring back a long time member of our community, Mark. He’s much better known via his alias of ‘AlphaThor’ within the community. He was originally on episode 96, but I wanted to sit down with him and hear how things have been going. We discuss several topics but the one that I could relate to quite well is his current strategy of depending on high win rates to tilt the risk vs. reward into his favor. This topic is one that many people don’t quite understand, so I’m confident it will be helpful to those who need to grasp the “full range” of how risk vs. reward can work. Lots to learn thanks Alpha, so let’s get to it! Notes: Today we reinterview Mark who goes by alphathor in the community. To recap, Mark started in penny stocks before discovering Clay. This led to him getting educated which ultimately led to his desire to trade options. Mark has structured his job so that he has the opportunity to trade every morning and work in the evenings. He was smart enough to lighten up on his trading as he tried to find what trading worked the best with his personality and strategy. Even though he didn’t find much success day trading to start, he changed up his entry criteria. He would wait for too much confirmation and miss the move. Now he mainly focuses on overextended moves into important support or resistance levels. This is also a high win rate strategy so while the risk versus reward isn’t what you typically think of, this modified version is typical for scalping. Quotes: I tried swing trading options. That didn’t work out too well. I’ve always had a passion for day trading options. I was struggling trying to find my way so I was just coasting and taking it easy over the summer. Since I’m trading against the trend, I would have rather got out for the quick 50 bucks than have it go against me. I’d like to start with 2 contracts then work my way to 3 and building up to 9 in the future. Links: https://claytrader.com/podcast/episode096/

Let’s go!!!! I’m sick of excuses! I swear… the more people I interview on the podcast the more crustier and grumpier I become when it comes to people playing the victim card and crying foul with all kinds of excuses. I don’t want to spoil anything, so all I’m going to say is that thanks to our guest, Rick (“mollardr1” chatroom alias), I’ve become that much more of a jerk to those who walk around with the victim card. If you are looking for some inspiration in regards to putting the axe to the grindstone to go from Point A to Point Z, I guarantee you will get that in this discussion. Let’s get to it! Notes: In today’s episode we interview community member Rick. Since Rick grew up on a farm he was familiar with commodity markets such as corn, cattle, etc. He also participated in a paper trading competition for school and while other people went all in on some penny stocks, Rick took it more serious. Starting at the age of 17, Rick had started to put in monthly contributions to mutual funds hoping for 10% growth over 5-10 years. He eventually closed those accounts out and used the proceeds to buy his family a home. This led to a trading hiatus while he rebuilt up an account. Rick went to a seminar that discussed the importance of multiple streams of income so this was his main focus. This helped him pay off his home in full and generate additional revenue every month which led him to be able to fund a trading account again. After looking at the various education sources out there, Rick decided to join Claytrader and started the formal education that is involved. He enjoys trading longer term time frames as this fits his life best. Even with a high win rate trading strategy, Rick is not prepared to go full time to trade yet. He realizes there is much more to learn and that takes time and experience. Quotes: I walk into Morgan Stanley and told them I wanted to purchase stock. He told me that I couldn’t because he wouldn’t get a commission. I went on a hiatus for 3 years because I didn’t have more money to throw into a trading account. It would be cool to quit my job but I want to know the numbers before hand… because that’s a big jump. I paper traded from July ‘17 until Nov-December. Now I’m slowly starting to build actual positions with real money.

We’re going on a journey with a member that begins back in the 80’s! I don’t mean to insult your intelligence, but that was 35 years ago! Our guest from the community, Fred (‘FredSC’ in the chatroom), takes us from the start when he used to get physical newsletters his mailbox to present day where technology has changed the game quite a bit for him. He’s traded several asset classes and discovered much over the years and he doesn’t hold back in sharing the ups and downs that we can all learn from. I always enjoy these discussions as they present a unique viewpoint from someone who has seen a whole lot more than myself. Come along for a stroll through the past 30 plus years. Notes: In today’s episode we speak with community member Fred. He ended up using multiple newsletters in the 1980s which contained various strategies. Fred actually ended up buying near the bottom of the market crash and got a great entry. He was not impressed with brokerage recommendations at the time so he continued to focus on putting money into his 401k. Eventually he opened a self directed brokerage account and decided to focus on gold miners. After hearing about the Robotic Trading course, Fred decided to join the community and start his education journey. He quickly realized that there is more to the puzzle of trading than just one course so without much hesitation, Fred joined University. Fred paper traded forex for a while but had trouble dealing with the spreads from TD Ameritrade. This led him to take a look at options. He gave himself some time off from work to also try day trading. Something Fred needs to continue to work on is his stop loss placement. This is something that takes time to develop especially if you’re going to focus on a basket of stocks you’ll be trading often. Quotes: Somehow the idea got in my head ‘now is the time to think about buying.’ I just kept plugging money into the 401k. This buddy of mine said he made 1000 dollars in a day with this Robotic Trading thing! I went home and up comes Claytrader. First I’m up then I’m down. Then it comes down and hits my stop loss. I had FOMO going on big time. Back to paper trading. You put it together, look at what happened and then you tune it or you say ‘no that worked’ and leave it alone.

It’s always good to have a variety of journeys and experiences as it brings a true all around view of the markets. Thanks to our guest this episode, Dan, we certainly hear about a strategy that is unique. While we’ve had past members discuss such strategies, it is view and far between. I do not personally use Dan’s approach or anything of that nature, but that doesn’t mean Dan is wrong. It doesn’t mean I am right. It just means that there are many pathways up the profit mountain within the world of the financial markets. As long as it works and there is a sense of personal risk comfort, that’s the key. With that being said, let’s get out the blender and blend together some fundamental and technical analysis into one. Notes: Today we interview community member Dan. He utilizes a more fundamental approaches to trading. One way to define his style would be contrarian value investing. After doing research on a company and monitoring it for at least a month, only then will Dan look to purchase a stock. His general timeframe for a trade is up to 2 years. Dan uses the volatility of a stock to help determine potential targets. Since he is buying things that are possibly 50% off their highs, it’s not out of the question to target 40-60% returns on them. He has always taken the Option Trading Simplified course to help expand his trading. He mainly goes long stock but he has no problem utilizing options to synthetically short if his thesis agrees that a move down is probable. Dan enjoys utilizing the advice of veteran traders because he believes they have more intuition about overall market direction since they have been involved for so many years. Quotes: I think the first chapter for wealth creation should start with ‘how to save.’ Let's say you want to buy 1000 shares. Start with 100. Watch for another month then buy another 100. I bought Robotic Trading years ago and go through that 3 or 4 times a year to stay fresh with technical analysis. I have 11 tickers I’m trading. Six of them are down so I’m a loser … but I’m up $818 dollars. You have to be a good loser.

Even if you don’t trade Forex, realize there is still plenty of great stuff in this discussion from a general trading experience perspective. Our guest today, “MJ” as he goes by him the community, has been through much on his forex trading journey and he is still going strong! One of my favorite parts (and a great example/reminder for us all) of the interview was how the voices in his head tricked him into practicing in a very irrational way. Sure, maybe you or I would never do something like that, but it brings up the valid thought of, “maybe I’m doing this somewhere else in my approach to the markets?” This of course is just a sampling of one of the many rabbit holes we venture down, and I assure you there are plenty of other valuable conversations too. Give it a listen, you’ll be glad you did. Notes: Today we interview community member MJ. His grandfather traded in the market and offered to teach him. Unfortunately this did not work out too well for him but he attributes that failure due to being unfamiliar with the emotions attached when money is on the line. While analyzing the strategy in depth, MJ realized this did not work best for him. He went back to paper trading but was doing it in an unrealistic way that utilized hindsight and cherry picking why he would pass on losers and take winners. After discussing with his wife, MJ joined the University program and got through many courses multiple times. He also decided to move from futures trading to forex trading. After trading on a very short tick chart for futures, he is really enjoying trading the 4 hour chart for forex. This also works well considering he has a full time job. He monitors 20 major pairs but does not trade them all. MJ has found that the spreads are more favorable throughout the US session and generally avoids the European and Asian market hours. Quotes: My grandfather actually traded. He mentioned how effective his system was and it could replace my income so that’s where it started. I paper traded and paper traded and paper traded however I was lying to myself because I’d start at the far right edge and work backwards. If I can’t afford to put this money in the trash can and set it on fire then I can’t afford to trade with it. I keep my risk so small that if I lose the trade it makes no difference. Having money on the line makes me focus. Often I look back and realize I did not screw up my analysis. I was just wrong. When you take a loss it’s the cost of doing business.

This story is crazy. It’s hard to believe the truth of it, but given the market he used to generate the gains, the volatility was certainly available to grow money at quick rates. I do want to throw out this disclaimer though… while I find this interview extremely inspirational and motivating, all of that is derived from something outside the money. Let’s face it, these results are not typical and should not be the reason you venture into all of this. Of course, you should want to make money, but if you are only going to be happy with the amounts you’ll hear.. the odds are HIGHLY likely you’ll be disappointed. What I found most interesting and motivating with out guest, “Zentaro”, is how after an unfortunate career experience, he was left in a rough spot. He could have used it as a crutch and excuse but he didn’t. He put the axe to the grindstone and took matters into his own hands. I don’t want to say anything else at risk of spoiling, so let’s go! Notes: Today we interview community member Zentaro from the Netherlands. He tells us about his time as a policeman before he was honorably discharged. This led him to try to find another form of income. A friend had suggested he start trading CFDs. After a week of trading on demo, he was profitable and thought all he needed to do was fund an account and he’d be rich. In the first week of trading on a funded account, Zentaro made 50% of his entire account value and thought he figured it all out. Unfortunately that is not how it would work out. After losing a few thousand Euros, it was suggested that he start to trade cryptocurrencies. This was around the time of the US elections and speculated on TrumpCoin and PutinCoin. These trades eventually went to zero. Cryptocurrency was something that made more sense to him though. He continued to have an interest and ultimately turned 12,000 Euros into over 800k. Now he risks less than 5% per bitcoin on trades while still trailing his winners. Zentaro has been diversifying his income by purchasing rental properties and owns a drone business where he is the official Dutch distributor. He has also started to utilize the Grow Rich course by focusing on dividend stocks to help set up his retirement accounts for the future. Quotes: They said I couldn’t operate in society. They gave me a little welfare support and that was it for me. I was only 35 years old. In this chat room you were just a robot and pushing the button. A puppet. If you do your homework correctly, you’ve got some real coins that will go up over time. I’m looking for second homes to buy to put up for rent. I also started the Grow Rich course. I’m accumulating dividend paying stocks. For me it’s only charts. I use price and volume as leading indicators.

I have conflicting feelings with this discussion. My greedy side absolutely loves to know this happened as it provides such a great learning opportunity for others; however, I truly do feel bad and annoyed that this actually happened to such a nice guy. Community member Ben, “close2pga” (chat room alias), walks us through his journey and how at the start he was mislead into thinking someone could shove their personal strategy down his throat in order to teach him how to trade. This is one of those marketing ploys that drives me nuts. First, it’s simply false and misleading and second, it gives the rest of us (myself included) a bad name as being scum bags. I digress though. Ben’s willpower and determination to bounce back from this initial hiccup I found very inspiring and I’m sure you will too. Ben is a business owner himself, so he offers up some solid perspectives on market dynamics and trading that will I believe offer great value. Let’s get to it! Notes: Today we interview Ben who goes by close2pga in the community. Ben is an avid golfer who gets out almost 2 times a week and also owns a driving range. Since he leases the land his business sits on, there came a time when he thought that lease would not be able to renewed which led him to look into other sources of income. Ben started looking into various online education for trading and while some of it was good, it pushed him into trading one single way. This is absolutely not a one-size-fits-all job. He had about 6 months to learn how to trade and that pressure did not help him with his learning. After finding Clay, Ben decided to go through the University program and has now put those other two education sources aside. He has noticed what triggers bad habits such as chasing price or not honoring his stop loss and has found remedies for those issues. Since Ben no longer has the pressure of time since he has no issues with his lease, he is now utilizing his patience and persistence to get through the educational content. Not only does he not have the pressure to succeed in a new line of business in 6 months, he is now set up for success by having the guaranteed trade (his JOB) to keep him even keeled as he proceeds through the program. Quotes: It looked like I was going to be forced out of my business. I knew I would have a hard time getting a regular job after working for myself. I really put in my head that I needed to make another living in less than 6 months. It was not good to put that pressure on myself. I noticed that my scanner pulled up momentum stocks that I might just jump into it. How can I stop this? Get rid of the scanner. It’s not the money per say. The freedom to have time during the day is what I’d like.

It’s always enjoyable to catch up with past guests and hear about their journey as it continues to unfold. That’s exactly what Chezz and I do in this episode with longtime community member “Mr. Bee”. If you’ve spent any amount of time in the chatroom, I’m sure you’ve seen Mr. Bee at work. He’s come a long way since our last conversation with him as he learns and masters more areas of the market. The one aspect of our talk that I found intriguing and personally beneficial was how he approached increasing his personal risk tolerance within various strategies. Risk tolerance is critical component of trading success and it was awesome to hear Mr. Bee’s perspective and experience with it. I hope you enjoy this discussion as much as I did. Let’s go! Notes: Today we reinterview community member Mr. Bee. After picking up where we left off in his last episode, Bee had continued to focus on trading advanced options. The important thing to remember is that he stuck to the strategy in both good times and bad instead of jumping around to different strategies. A big turning point for him was developing the courage to trade ‘naked’ positions (all of which are explained in the course). Considering there are many mechanics to keep in mind when utilizing trading this way, Bee has always continued to try to learn more each and every month to get a better understanding. Mr. Bee has leveraged speaking to other community members heavily in the past 4 years since he started trading. The ability to bounce ideas off of other members with no agenda can provide some real insight as to potential problems in a trade idea. More eyes is generally better than less. As he continues trading into 2018, he fully accepts that he is a swing trader and wants to continue applying what he was taught even more often if the opportunities present themselves. Quotes: I really have a genuine interest in trading and options really opened that door up to me. There were days that my PnL didn’t make sense. It takes you down the rabbit hole in regards of what you can learn about trading. I butcher the order while changing it. I’m going long and this thing just starts bleeding to death. I took the loss. Had to do it. You can make enough money trading options using very little money. That’s what led me here. I’ve found a comfortable balance. I’m going to do a lot more charting in the evening since swing trading is my strategy. Links: https://claytrader.com/podcast/episode071/

Having confidence in something is a good thing in most areas of life, including the financial markets. This is where the catch-22 comes into play within the markets. Confidence vs. too much confidence (“Koolaid”) can be a very big problem for both traders and investors. Our fellow member from the community, Tony, walks us through some of the major hazards that koolaid can and will introduce into your portfolio. I give him a whole lot of credit for being open and honest about just how bad the koolaid affected him, but as you’ll see, by admitting his blindness and mistakes, he has now been able to put himself on the proper path to success. Looking to learn from some real life cautionary tales? Look no further. Tony shares plenty with us! Notes: Today we interview community member Tony. He decided that he wanted to have more control over his 401k so started to look into different stocks to determine if he wanted to be invested with them or not. Unfortunately, he had lost most of that account and took 8 years off from the market. He assumed that it just wasn’t for him. Tony’s uncle got interested in the marijuana stock boom and started to tell him about all the opportunities that were out there. Even after two bouts of failure, Tony still did not give up the dream of being involved in the market. He knows that it is possible to have his money make money for him whether it’s from an active standpoint or a more passive swing trading standpoint. This led him to decide to invest in his education. He forced himself to stick with paper trading until he finished a predefined amount of courses. Tony realized that there is no point in jumping back in the market if he did not practice the material he was taught. After two months on paper, Tony is back to live trading now. Since Tony still works a full time job, he has focused strictly on swing trading which he can set up in advance the night before. This is a drastic difference than the trading style he tried before where he would just stare at a chart for hours on end hoping for a move. Now he does his homework the night before and executes the next morning. Quotes: I pretty much lost all that 401k money. There was no plan. There was no strategy. That was it. That was it for a while. People were posting that it’s a real company so here I am jumping back in the bathtub of Kool-Aid watching all my money go away. I realized I have to learn how to do this or there is no point. I don’t want to lose my money again. I have a plan and I’m going to stick with the plan. If I don’t stick with the plan, I’m going to do the same thing trading stocks. So now because of Robotic Trading, I’m able to take that emotion out of it and not just staring at it waiting for a move.

We have a rare case of someone who experienced fool’s gold… but… in a contradictory way, realized and admitted to themselves that their success was actually NOT “skill”, but rather “luck”. Upon this discovery and self admission, where did their journey go from here? Our guest from the community, Angelo, tells us all about the decisions he has made along with the rationale behind them. What I really enjoyed and learned from was you always need to keep your ego in check. Even though Angelo has a college degree in finance, he was still able to see through many potential pitfalls that others commonly fall into. Lots to learn, so let’s go! Notes: Today we interview community member Angelo. While he has a degree in finance, his interest only spanned as far as his mutual funds and 401k. After Robinhood launched, he was intrigued by the no fees which led him to become a much more active investor/trader. A majority of Angelo’s friends were just looking for low priced stocks that they could load up on and hope they went higher. Angelo also falls in the category of finding fools gold to start. The difference is that he recognized that he had been lucky and wasn’t a prodigy. He realized that he didn’t want to continue down the path of inconsistent trading so he decided to invest in his education AND he closed his account so that he would strictly focus on the education first. The pattern day trade rule really hindered Angelo’s short term trading. He once again closed his trading accounts because his situation was suboptimal. He realized that the market will be there in the future so he decided to focus strictly on the courses and paper trade alerts from the community. Angelo still has a few courses to get through but will be considering implementing advanced option strategies so that he can still trade while having a full time job. It is crucial to understand where you are at in your journey and he is not rushing anything. Taking the logical route through training and practice leads to consistent results. Quotes: One of those degrees was in finance. It was mostly looking at my target funds and 401k’s but that changed at the beginning of this year. I was up 2 grand and had no idea why or what happened but I remember feeling pretty good. In the back of my head I knew it was luck. My friend’s thought I was crazy for spending that much money on education. Eight months later, it’s been worth every penny. The big issue I was running into was the PDT rule. It’s the worst thing in the world. It messes with your psychology. I know what I’m willing to risk on each trade so that makes it easier to find what fits your plan versus going wild wild west and wondering.

You are busy? You don’t have the time to make it happen? Nah. I’m going to go ahead and say you’re either lazy or simply don’t want “it” bad enough. What is “it”? You tell me. Maybe you want to learn to trade. Maybe you want to improve in another area of life. After listening to this interview though, you’ll understand why I have very little pity for the “I’m too busy / not enough time” statements people throw around. Our guest, Diego (same name in chat room) gives us a rundown of his current journey and you’ll see this guy is not messing around. I also had the pleasure and honor of meeting Diego at our Fort Lauderdale meet-and-greet and I will attest to the fact he’s a Grade A person. If you’re in search of some real life inspiration based in reality, and not theory, then look no further. Let’s get to it! Notes: Today we interview community member Diego. He had contributed to a TSP account which is available for military members until the time his service ended. After taking some looks at the account daily, he became interested in the daily ebbs and flows of the account. This led him to move his account into various mutual funds which ultimately led him to swing trading. This was all prior to any training. A majority of his buying and selling was based on recommendations from various media sources. Diego started to focus strictly on natural gas and would trade UGAZ and DGAZ (two gas ETF’s that move inversely). After not finding much success trading those based on fundamentals, Diego looked into options. After having some missed trades, Diego stumbled on to the Inner Circle and expected to get buy and sell alerts from Clay. However, as he soon found out, there are only technical alerts being given since every member has their own risk tolerance. This led to him joining the University program. Diego continued to focus on his interest on options and now exclusively trades advanced option spreads. This works great with his busy schedule. He has also learned that he does not need to be in a trade every day. It’s much more lucrative to trade good setups and pass on the mediocre ones. Quotes: I was on the kool-aid for The Street and buying based on what they were saying. My expectation was to get rich now. I want to hit it big and quit my job and live on the beach. It’s harder than you expect. I read about options. I bought cheap options on CHK to cap my risk. Something happened so 120 dollars became 700. Let the past be the past. Move forward and focus on the present. The next four months, I studied CTU. I plan the trade the night before then put in my orders at the open. I look again by about 2:00 if I didn’t get a fill in the morning.

Some may call me a jerk when it comes to my lack of pity, but hey… you can thank our guest for my shortfall of compassion. We speak with Mario (chatroom alias “MarioR”) and as you’ll learn, the man is a beast when it comes to “making his passions work”. I don’t want to offer up any spoilers, but if you’re in need of some additional motivation to remove the “I have excuses” card from your deck, then look no further… this is the interview for you! For those of you who are members of the community and hang out in the chatroom, I’m sure you’ve seen Mario around along with the screenshots he posts of wins and loses. There is no need to beat around the bush, the guy puts up some very big numbers and it is quite inspirational to know what is possible. The big numbers are awesome no doubt, but getting to the point he’s at now took all kinds of blood, sweat, and as he admits, literal tears. Prepare yourself for a “no excuse” ride. Notes: Today we interview community member Mario who goes by MarioR in the chat rooms. He was introduced to the market at a young age when his father was trying to day trade on the computer. After Mario got out of the military, he had a large sum of money but was unsure if he wanted to trade with it or invest it long term in mutual funds. He did eventually put it into a brokerage account and tripled his account when he admits he really knew anything. Those easy gains went as fast as they came in and his account was back to the 20k mark. He had a few bouts of success followed by drawdowns which led him to reevaluate his approach. After accidentally discovering short selling, Mario found that he has developed quite a skill to find over extended names to get short on. Just utilizing basic support and resistance, Mario strictly focuses on finding ideal setups, excluding his old boredom trades. Mario has plans to go full time in the future after all his expenses and debts are taken care of. He has a great long term plan regarding what criteria needs to be met before he embarks on that business plan. Since Mario has done this for many years, he knows where he still struggles and is taking steps to remedy those to continue trending his account up. Being honest with yourself regarding both the good and bad is crucial for growth. Quotes: I made some swing trades and eventually had 60,000 from 19,000. I had no idea what I was doing. Everything was low and I made out. If you’re going to do this you need to get educated. I just picked up stuff randomly from other traders and made my own style. I can think to myself, if I was long where would I be selling? Then that’s where I’m thinking to get short. My problem was I never feared losing money. Income is not a dirty word. I work second shift and that allows me to trade the morning so I stick with it. If you’re treating stocks like a lotto ticket you need to change that mentality. Trade well and take what the market gives you.

This discussion certainly got my blood boiling. As someone who is in the coaching/teaching/mentoring business, it truly drives me insane when I see others creating a bad name for everyone. We have a shining example of this thanks to our guest today John (‘FatherOfBear’ in the chatroom) and his experience with another “coach” in the business. Even if you never spend a penny on my site, please just realize and be aware of some of the glaring red flags that many of these “I want to see you succeed” people out there display. To give John fully credit though, after the rough start due to the bad experience in attempting to learn, he didn’t give up and he continued to grind onwards and upwards. Like many of us, John has taken several bumps and bruises along the way, but the great thing for us as listeners, we can learn from them and save ourselves some money in the process. I had a great time chatting with John and I’m sure you will too. Notes: Today we interview community member John who goes by FatherOfBear in the chat rooms. John was intrigued by those who traded in the market and spent some time looking around the internet in an effort to get educated. He came to the realization that if he wanted to do this successfully, he would need to seek out quality training. Unfortunately, he decided to get training via someone who put a time limit on their program and John learns best by a high amount of repetition. A 3 month time limit is not realistic to go from knowing nothing about the markets to a proficient trader. Even without a proven track record on paper, John funded an account and started trading live. After finding some initial success, he eventually dwindled that account down to scraps. John does not like to lose and in most aspects of life, it’s a fantastic attribute. But in trading, it can be detrimental. After finding out the material in University was available for LIFE, John dove right into the program to rebuild his notion of trading. He is currently working through the foundational courses before he beings trading again. Quotes: I watched YouTube videos of people explaining what candlestick means. I would watch hours of videos. It was generic at best. I didn’t grasp how dangerous it was to trick myself paper trading. I was trading with large size since there was no risk. I get my first big win. I was thinking, I’m not over trading… I’m doing what my teacher is doing. I must be a prodigy. I started learning all about margin calls. It really hurt my account being stubborn and holding. Reinforcing those bad habit muscles. Honestly, I’m not sure I would re-do anything. I’ve eaten a lot of humble pie. Education is paramount and is worth paying for. Links: https://claytrader.com/videos/big-red-flag-world-trading-educators/

We try our best to keep things as “real” as possible on the show, and in this episode I think we do a great job of that given our guest’s strategy. In most instances, the topic of technical charts come up given many in our community use them; however, that’s not the case with fellow member Aaron. There is still lots of fine tuning going on within his strategy, especially in the trade management department, so who knows…. maybe one day charts will find a place. As it stands now, Aarron is looking to improve with each passing week and keep his account in the green. He was open and honest which we can all respect him for. Notes: Today we interview community member Aaron who is relatively new to trading. After realizing he was making next to no return keeping his money in savings, he decided to look into the market. Aaron likes to research sectors and individual companies he believes will have future growth. Considering his 9-5 job, he choose industries and companies in that space that he believes will grow. Something Aaron picked up very early on was that most people who use financial social media are generally unable to accept responsibility for their actions. After watching a few of Clay’s videos and seeing the information conveyed, Aaron decided to join the community. Aaron doesn’t utilize charts to validate his investment choices. He uses the news and fundamental information he comes across. However, he hasn’t bet the farm on any of his trades so even if they were all go to zero, he would be fine. Quotes: One thing I regret is that I haven’t taken a lot of risks in my life. I realized that my money has sat around and done nothing. When there’s a profit to be made, you have to take it. That’s the discipline I have to adhere to. The idea of short manipulation is very misconstrued. It’s like betting against the dice in craps and the odds are reversed. For me, that’s a car payment. Wow that’s a better Christmas for everyone. Don’t be ashamed of profits.

The impacts of a quality plan can lead to big things. How big? How about a six figure gain within your trading account? What I love about the podcast is the many shapes and forms the motivation and inspiration can take. This time around, the motivation is that of sheer numbers and size of just what is possible. As our guest Stan (‘PapaBear’ in the chatroom) discloses, nothing happened over night or without a lot of hard work; however, it did happen and continues to happen! It honestly still inspires me and gets me fired up to know that by only using 30% of his account, he was able to double his ENTIRE account. This is the power of a plan and approaching this business we call trading in a logical and realistic way. Come along for a very inspirational ride! Notes: Today we interview community member Papa Bear aka Stan. Back in the 70’s, Stan saw an episode of The Brady Bunch when they had an episode about the stock market. This led to an interest that he carried until much later in life. Stan unfortunately suffered a decent loss when one of the mutual funds he was invested in got too heavily invested in a stock that plummeted. This led him to pull his funds into a Roth IRA and start controlling his money himself. After putting together as much as he could from free education, Stan had a big fear about ‘what do I not know yet.’ This led him to investigate some structured education for trading. After looking around the industry, Stan joined the University program. Stan went through the courses and decided to focus mainly on options. The big emphasis he wants listeners to take away is that position sizing is absolutely crucial in long term survival trading. He has never needed to utilize traditional margin since he is never using the entirety of his account and he has generated a fantastic return only using ⅓ of his account. He mainly focuses on candlestick formations and keeping himself involved in multiple sectors as not to be too concentrated. Quotes: Everyone and their janitor was getting in the market during the dot.com boom. I started getting scared. What is it that I don’t know is what really scared me. All these different traders trade differently. You rather eloquently showed me that I was wrong and rather than getting offended by it, I deeply appreciated it. Paper trading was good for learning mechanics. Unless you get the adrenaline of having money on the line, the lesson doesn’t stick. My first year after CTU I made 100% only using 30% of my account. We’re talking 6 figures. The last thing you ever want to do is turn a day trade into a swing trade. They are two different philosophies. Links: https://claytrader.com/videos/the-surgeons-delemma/

I have no idea what took so long, but we finally have a guest from the UK! I will say this though, it was worth the wait! As far as new trader horror stories are concerned, I’m pretty sure I have a new favorite. I had a great conversation with community member Sarah (alias in the chatroom, “like a glove”) where she openly shared her ups and downs. Like I mentioned, her one “down” is quite comical and while that makes me sound like a jerk, I promise it’s because she can laugh about it too at this point. Like many newer traders, she started out using strictly fundamental analysis in their approach to finding trades; however, Sarah quickly realized that there had to be better ways and that’s when she found the tool of technical analysis. We’ve heard it time and time again in the past, but it’s a concept that can never be overstated… as you’ll learn, Sarah’s experience with “rushing” didn’t exactly lead to great places. I had a genuinely awesome time with this discussion, and I’m confident you will too! Notes: Today we interview Sarah from the community who goes by the handle ‘like a glove.’ Her introduction to the market was getting issued stock for a company she worked for but she wasn’t very educated regarding the market. She tried to utilize as many free resources as she could to learn how to trade in the stock market and that is when she stumbled upon the Stock Trading Reality podcast, which she enjoyed since it interviewed people on their journey. She started off utilizing fundamental analysis for her trades but after taking a string of losers, she decided to invest into her technical analysis education and took Robotic Trading. It opened her eyes up to some of the foolish decisions she made in the past but gave her hope for the future. After taking a massive loss trading on delayed quotes, she decided that she needed to stop trading and really learn to take it seriously or to not participate at all. Sarah has now learned to love her losses because she keeps them much smaller than her winners. If she could go back and do it again she would have spent more time on education first and not been in such a rush. Patience has been a large focus for Sarah since she started to take trading seriously. Quotes: If he can do that, I can do that. I bought loads of books, read tons of stuff on the internet and got as much as I could for free. I did paper trade… for around 20 minutes and then I realized I was making money and I could do this! It was like a bombshell. I didn’t know what I was doing for the past 6 months. I’ve been very lucky I didn’t lose everything. I came out halfway through a meeting and lost 90% of my account. I was convinced the price was wrong. It was 15 minutes delayed. Be a lot more patient and less arrogant. And don’t call your broker and expect to talk to the manager for a refund!

While it is never planned ahead of time, once in a while throughout the course of a discussion it can turn into a coaching session. Thanks to the feedback you as listeners provide, I know many of you enjoy being a fly on the wall and observing the teaching and suggestions being made. This is exactly what happened in our conversation with longtime member Alex (same name in the chat room). He has been a member of our community for multiple years and his strong desire to succeed is what has kept him in the game this long. It’s by no means been a smooth ride, and as you’ll hear, is still a work in progress but he is finding a groove and Chezz and I were able to coach him a bit so he can keep the positive momentum going. I can confirm the momentum is still going strong and growing as this was recorded several weeks ago, and fast forwarding to present day, things are looking very bright! Notes: Today we reinterview community member Alex. He was one of the first 20 podcasts and has been a member for multiple years at this point. After a brief summary of where he came from, we dive into where he has gone since. Alex was a big buyer of options to start which means he had to focus on directional trading. Unfortunately, he was not able to do this successfully so he looked into option selling (which we cover in the Advanced Options Strategies Explained). He has been a big advocate of journaling and logging his trades in an effort to find how to improve his performance. Something we have noticed over the years is Alex’s ‘account protectionism.’ He doesn’t allow himself to take a meaningful amount of risk to generate a reward. Alex has an 88% success rate trading advanced options but that 12 % of losers have kept him from being profitable. Part of managing losing trades for this strategies is giving the trade more time but Alex emotionally closed half of those and never gave them a chance to recover. Quotes: I started to look at how Hooch successfully trades options and that is making a lot more sense to me now. I got frustrated when basic options would go my way and my gains would disappear. I was the only one stopped out on the trade example. After that, I went through Skill Sharpening again to learn to use price action. I have an 88% success rate but my p&l is red. 40 winners and 5 losers but those 5 are a doozy. Links: https://claytrader.com/podcast/episode017/

One of the biggest factors of failure in trading is created by the emotion/feeling of “make a trade”. Sure, at first it can be nerve-racking to do your first couple of trades; however, after that the floodgates of “make a trade” come out in full force. Community member Jeff (same name in the chat room) shares with us his story thus far which expands several years of time. The one underlying theme/problem throughout Jeff’s time in the markets is forcing trades and not tapping the brakes when he should be. I really appreciated his openness and candidness of sharing his mistakes, what he has learned from them and then also what he continues to struggle with. His journey is a wild ride that I want to offer some spoilers too, but I’m going to stay disciplined and keep quiet. Take some time out of your day and make sure to listen to Jeff and his story. Remember, take advantage of kind people such as Jeff who openly share their mistakes…. It’s much cheaper to learn from another’s mistakes than your own. Notes: Today we interview newer community member Jeff. His introduction to the market was a loan from a family member which led to a return of 10% on his first and only trade. This opened up his interest in the market. After having his first child, he also received 60,000 dollars which he used to go full-time trading. He made some great gains but he also took some huge losses and admits he’s blown up multiple accounts since then. This led to him taking a break from the market. Jeff hit a home run on a marijuana penny stock and that’s when he decided that he wanted to trade other instruments. He decided to invest some of his profits into his education. After stopping by the Inner Circle and seeing that penny stocks are not a focus, he joined University. He admits that he went through the courses way too fast and even though he still had some profitable trades, he was still winging it. After volunteering to be a guest on the webinars, this opened his eyes up to the fact that he needed to slow down and redo the courses. Jeff is going to attempt to paper trade or trade small until he finishes retaking the courses and is able to set up logical trade plans via the live weekly webinars that he does attend. Quotes: He gave me about 6k and saw a penny stock running so I bought 10k shares and made 600 bucks. My dad said I was a genius. They had to call down to the NYSE floor because of my order size and I made the stock move. I lost 40 grand that day. I said that this was the last time I’m going to sit there biting my nails for 3 months rolling the dice on penny stocks. I admit I went through the courses too fast but the way you explained it, it was like you were talking directly to me! You cannot read one book and learn how to trade stocks. You can’t do it. Get educated.

While our guest had always known about the market, he had a bit of a twist in the sense that everything he heard about it was negative. The cherry on top was he also had a friend who was personally affected by losing all their money in the market. Our guest from the community, Greg, realized that if he were to ever get involved in the market, he would need to focus on his education first. Unfortunately, the criteria which was taught needed a very specific criteria which led to less than 10 trades an entire year. This type of long term trading did not fit with Greg’s personality. After trimming the criteria, he started taking many trades and this led to ‘death by 1000 cuts.’ He took a small account down to practically nothing and this led him to wake up and realize for long term growth, something needs to change. Where did it all go from here? Give the interview a listen! Notes: Today we interview community member Greg. While he had always known about the market, everything he heard about it was negative. He also had a friend who was personally affected by losing all their money in the market. Greg realized that if he were to ever get involved in the market, he would need to focus on his education first. Unfortunately, the criteria which was taught needed a very specific criteria which led to less than 10 trades an entire year. This type of long term trading did not fit with Greg’s personality. After trimming the criteria, he started taking many trades and this led to ‘death by 1000 cuts.’ He took a small account down to practically nothing and this led him to wake up and realize for long term growth, something needs to change. Greg found Clay on Youtube and decided to go through the University program. His main goal is to have more time to spend with his family and while his time is limited, he always finds a way to make time for his studies. Where as most people focus on only the results, Greg has realized that in almost everything in life, focusing on the process is much more valuable and an truly lead to long lasting success. Quotes: For a majority of my adult life I had no interest in the market. Everything I heard about the market was negative. Trading is a skill set that can be learned. You’re not born a winning trader or a losing trader. Even having education, there is so much more that goes into it. I underestimated the emotional component. I’m not looking to be entertained. I really want to learn it and learn it well. I want to be able to do this. Maybe instead of a streak of green days, I can try to have a streak of days where I don’t break the rules and then celebrate. Links: https://claytrader.com/videos/stock-trading-quick-tip-math-trap/

We are going international again and bringing back a former guest. The last time we spoke with Norse was, literally, years ago (wow, has the podcast really been around that long? Time flies!). To his credit, he is still around and going strong which is a great compliment of Norse's work ethic and focus. Not many can survive the markets even a couple months let alone to multiple years! While Norse's main trading vehicle is the Forex market, please don't be too narrow sighted and think that because you don't trade or have any interest in trading Forex that the discussion won't provide value... I assure you, it does! One minor spoiler that I just have to give as it shows you how serious Norse is, but he's gone out and hired someone to work for him in an area of his trading business. It's some great stuff! Notes: Today we reinterview Norse. He’s always had knowledge of the market but wasn’t sure how he would be able to turn a profit. After going through a demo money trading challenge, he saw someone post online about 300% gains in the marijuana stocks and funded his account to go all in. Norse took a look at how much he was spending in commissions and a friend suggested he look into forex since you only pay the spread. He uses the daily chart to spot his trade ideas and then executes on the shorter term time frames. He also only focuses on a small basket of currency pairs and commodities so he really learns their ‘personality.’ He has a very set criteria for not only his entries but when to add, where to set his target and how to trail his stop loss. Norse also understands that you can do everything right in terms of preparation and execution but sometimes trades just do not work out. It doesn’t lead to any stress and he has no plans to change his system. Another important aspect of Norse’s trading is his ability to recognize his mental state. He reduces size when he is not trading well and then as he falls back into the rhythm he goes back to normal size. He still is working on avoiding taking trades out of boredom but his persistence will always prevail in terms of improvement. Going forward, Norse is working on a 15% loss reduction in his trading. He wants to design another ‘expert advisor’ to identify ranging markets and trending markets because this will determine what type of trades he should be looking for. Quotes: Penny stocks actually worked out. After taking Robotic Trading, I traded pot stocks buying support and selling resistance. I went back and did a lot of testing. I like to trade reversals because that is where my biggest edge is. I have to have certain criteria. Taking a loss on a single trade doesn’t bug me at all. If I have a red week or 2 red weeks in a row, the voices come out screaming. The holy grail in trading is just time, patience and perseverance. Nobody ever remembers the guy who gave up. Links: https://claytrader.com/podcast/episode020/

If you are not aware, you will be after reading the next sentence. There are quite a few people who approach and use the stock market as a “stay at home” Las Vegas. They believe trading is all about luck and is “a gamble”, so that’s how they conduct their trading. This of course leads to all kinds of stupidity and dumb decisions, and our guest in this episode is geared around taking advantage of these opportunities. We’ve talked with Chris a couple years ago on the podcast, but we’re bringing him back for his update. If you’ve been around the community for any amount of time, I’m sure you know him better as his chat room alias “gocubsgo”… or as I refer to him as, “cubs”. Even if you have no interest in trading options, there is still a ton to be learned in regards to what it takes to set up a strategy and system that you can have full confidence in due to its consistency. Chris has been doing very well and it’s all thanks to the system he has built himself… which, is essentially a casino to take advantage of degenerate gamblers. Let’s go! Notes: In this episode we are re-interviewing Chris. He started trading 2 years prior to this podcast and as we left off last time, Chris had just begun his journey into selling options instead of buying options. This strategy worked well for him since it is a swing traders strategy and he didn’t have time to watch the market intraday. As Chris learned more about selling options, he started to narrow down his risk profile from quite conservative to much more aggressive as time as gone on. This also leads him to not fear being assigned stock as the names he trades, he is willing to take shares of the company (most likely a good dividend stock). Keeping trade sizes small to start ensures that no big losing trade can do any real damage to his account. He is also well versed in defending losing positions using various option strategies. The big emphasis he makes is repetition is key. Chris has no desire to nail tops or bottoms but he can structure his trades to give him a much higher than 50% success rate with his usage of time (in the event he is wrong initially). For newer traders, Chris recommends using the probabilities that are built into the option chain to spot high probability setups and to swing trade instead of day trade. With time you’ll start to understand the nuances and what you are most comfortable with in terms of risk. Quotes: It’s one thing to learn the basics but when you get comfortable it’s about efficiency and small tweaks. I like finding those kinds of plays, doing them often and staying small so that you keep your account uncorrelated. The longest roll was probably a year. Fitbit didn’t have an uptick since its IPO. Be reasonable about it and don’t size up. UVXY accounts for 10% of my portfolio but it accounts for over 20% of my gains on the entire account. Links: https://claytrader.com/podcast/episode027/

As many of you know, I love me a good analogy, and in this episode we have several of them… the one that really stood out though was in regards to pitching in baseball and trading. Chris is our guest (‘thekidcanrake’ in the chat room) and he shares with us the many important lessons and realizations he has had since beginning his journey. Thanks to Chris’ grandfather, he had an early introduction to the markets; unfortunately, also thanks to his grandfather, Chris witnesses some events that shifted his mindset to the better. Even with that mindset shift though, there were still some kinks that needed to be worked out. This is the part I’m extremely happy Chris was transparent about as it shows just how sneaky the voices in our mind can be in regards to tricking us. All in all, get ready for a solid discussion on the realities of the market and trading! Notes: Today we interview community member, Chris. His initial introduction to the market was through his grandfather. He would keep an eye on the market for the purpose of monitoring his portfolio. About 20 years later, Chris started to get more involved because he had money going into a 401k every month. After watching his grandpa take a large loss during the 2008-09 meltdown, Chris decided it was time to start focusing on his education so something similar would not happen to him in the future. Since Chris is a pitcher for baseball, he saw the parallels between how emotions affected him in sports and could see the same pitfalls happening with trading. Originally he would buy into the stories that various biotech companies would tell. This would lead him to buy and hold for quite a long time but he realized he wanted to make returns faster than that (shorter term time frames). After joining the community, Chris recognized very quickly that there was a lot of things he still did not know. While he rarely jumps into anything blindly, he decided to continue trading while learning with very small amounts because he felt that he needed to have skin in the game. Chris closed all his positions and is now in savings mode to achieve his goal of joining the University program here. He owns up to the mistakes he’s made and is ready to learn and move forward. He’s taking steps in the right direction to make this a future stream of income. Quotes: I could micromanage my 401k a little bit. Trading with your emotions, you want to stay away from that. I watched quite a few Claytrader videos before I knew who he was. The ‘trade without emotion’ is what I really liked. My money was all tied up so I wanted to get involved in some shorter trades. That’s what led me here. You guys have a really good thing going on with the community. Lot of interesting and cool people. My biggest hurdle in trading will be to step back and slow down before making a decision.

Before anything else, this is Part 2 of a multi-part interview, so if you want it all to make the most sense, then be sure to listen to episode 137 first. I've really enjoyed the feedback so far from Part 1 on the discussion as there have been several opinions and viewpoints that have arisen. I'm not saying anyone is wrong or right with their opinion, but what I am saying is it proves the point exactly about how "risk" can be perceived in different ways depending on the overarching context that surrounds it. Thanks to our guest's (Carl from the chat room) candor and openness, we can still how the idea and concepts of risk continued to influence him to always be self aware and on the offense about this very important aspect of trading. If you enjoyed Part 1, then there is no doubt you'll enjoy Part 2, so let's once again get this party started! Notes: While he originally joined the program to strictly learn how to trade options, he eventually branched out and decided to learn various strategies for trading so that he wouldn’t become a ‘one trick pony.’ Carl talks about his successes and failures trying to trade a brand new strategy but has a detailed plan about how he wants to proceed into the future. Having 1000+ trades with his volatility strategy, he executes quite effortlessly but now he is learning brand new strategies to expand. Considering he has been in charge of his income since the early age of 12, Carl is big on efficiency. He is very conscious about his usage of time since that is limited every day. Clay suggests that Carl look into Advanced Options but Chezz brings up the fact that personality plays a large role in finding where you fit in the ‘trading world.’ While they have the high hit rate that he is used too, they are not active enough to hold his attention. Quotes: Because I didn’t understand what I was doing, I bought 2000 contracts that expired for a 12,000 dollar loss. I knew it was going up but I didn’t have a great idea where the profit might be. I thought, green is green. Hard work will get you far in life. I have a reasonable amount of emotional control and not scared of working hard.

If you're a long time listener, then you know the topic of 'risk' has come up on...well... more than one occasion. This is once again the case, but with a little bit different of a twist that does an excellent job of illustrating and explain just how risk in and of itself is subjective. Chezz and I interview Carl (same name if trading room) about his journey which has been quite the journey. So much so, this is a two-part episode... there is lots to cover! From being a business owner to getting interested and then involved in the markets, there are many experiences we can all learn from so let's get to it! Notes: Today we interview one of our newer members, Carl. He has always been hands-on and has launched several businesses but didn’t like the randomness of the stock market so he stayed away from it. Initially, Carl had no interest in the stock market but after investigating ways to have a 3rd income, he came around to it. He initially started using Robinhood but got annoyed with the pattern day trade rules so he left and went to Interactive Brokers and funded an account well over the 25k amount. After doing some research into UVXY and other volatility products, he strictly traded those products for quite a long time and became familiar with its daily moves and how it reacts to various market cycles. Carl took a massive drawdown both unrealized and realized but this was part of his strategy from the onset. He’s done his backtesting and knows what his account can stomach in terms of volatility. Regardless of him using stop losses or not, if his entire account was to blow up in catastrophic fashion, it would not impact his livelihood. That trading account could go to 0 and his family and himself would be completely fine since he has multiple streams of income. As Carl continued to expand his trading knowledge, he kept stumbling across people who would sell options against volatility tickers he traded. After purchasing a book about options he realized he wanted a more interactive approach to learn them and joined Claytrader University. Quotes: We started our first company when I was 12 and you have to have taxable income to fund an IRA so that’s what we did. I didn’t even have a clue of what I didn’t know. Granted, I do a lot of reading. I did the shotgun approach until it stopped working. Every position I took a loss on turned into a winner. I ended up being right. I realized that’s not a sustainable approach. I bought this green book about options. The book was awfully dry and I couldn’t ask any questions so I joined CTU.

I'm going to do my best not to go off on a rant as I type this up at this very moment. All I'll say is BE CAREFUL when it comes to those "guru's" using expensive lifestyles or extraordinary results as the backbone of their marketing. Please. Trust your gut and instincts on it. Thanks to our guest's willingness to share, Tom ("tvesel" in the trading room) freely talks about his initial experience with a guru who... well... was a bit shady. I'll just leave it at that. To Tom's credit however, he didn't let the experience hold him down and he got back up, dusted himself off, and kept on moving forward to create a journey for himself. He's come a long way since the start and he continues to progress, so let's talk about it! Notes: Today we interview Tom from the community. Tom, unfortunately, started his educational journey with a competitor and starts the interview about the bad experience he went through. Tom has had IRA’s for a quite a long time. His mother also caught the dot-com boom and fortunately sold before the large crash. He has always monitored the pulse of the market and with more time available, Tom was looking to make a living without being location dependent. He did spend 3 months trading at an offshore broker before he eventually closed his account to go to a more reputable broker. After exploring other options, Tom decided to join University and really enjoys the content and community support he receives. Tom is a big fan of Interactive Brokers chart trading platform. It visually helps him see his risk vs reward and to ensure he sticks to his plan. Even though he paper traded for a good amount of time, he believes the real value of paper trading is to get you familiar with your platform. At some point, you will need to put real money on the line and that’s when emotions will come into play. He is working on trusting himself to take an entry that he sees. He has the habit of watching it but not acting on it (which is completely normal!). Commitment takes time to develop and comes with confidence in your trading system and plans. Quotes: Clay is annoying. Repetition repetition repetition. There’s so much to that. Others gloss over important info. I learned some things from Google. All these things are on the internet but I was missing an ‘easy to follow course.’ There are a lot of normal people. Honest and sincere. These are people who have nothing to gain by their recommendation. Paper trading is good to get a handle on your platform. Eventually, the rubber has to meet the road though. I will never ever move a stop to give it more room. I will only move it to reduce my risk.

The title of this podcast may seem a bit odd, but in all reality, the goal for all traders should be to become bored. In this episode we welcome back Tony from all the way out in Hawaii (so jealous!) so he can update us all on how his journey continues to unfold. He started out in the toilet bowl of penny stocks, and as you'll hear, progressed long enough to find himself a nice comfortable spot in futures trading. Futures can be very risky if not approached in the right way, so that's exactly why it makes sense that he is laser focused on establishing boredom as a trader. It all started for him by applying the KISS method. Enjoy the updated journey! Notes: Today we reinterview community member Tony. After trying to trade penny stocks, Tony moved to options to trade more well established names. Now he focuses solely on futures. Tony started to focus on top down analysis to help get an idea of the larger trends, which he did not do trading penny stocks and options. This also led to his desire to expand on his risk management. Working with a small account, he had to keep his risk very tight. He is a big advocate of journaling to spot not only what mistakes we continue to make but also to identify what we are doing correct and how to push that harder. Tony has taken a much simpler approach to his trading and found much more success. He gave up the idea of the ‘holy grail’ indicator combination and now understands what he excels at and what he needs to work on. He understands that this is a lifelong endeavor. It is not a get rich quick scheme. It’s a business that you will always be grinding to get better and Tony understands and accepts that. When trading is a passion it doesn’t feel much like work. Quotes: It’s easy to confuse luck with skill. Because futures are more leveraged they are more dangerous. Learned some hard lessons. If you made your decision from a smaller time frame, you have to stick with your risk-reward ratio solely. I found out that trading should be boring. If you’re getting too excited, you should probably step away and turn off the computer. You need to treat your trading as a business. Set hours that you keep relatively consistent. There is no holy grail pattern or indicators. It’s just hours of screen time and accepting that risk before you pull the trigger. Being in denial just leads to bigger losses. Links: https://claytrader.com/podcast/episode088/

Humility is a great attribute to have as a trader, and our guest is a perfect example of this. We bring back former guest Mike ('HeyFordy' in the chat room) to discuss how his journey has continued to unfold since the last time we spoke with him. I don't want to offer many spoilers, but I will say his account has been growing and growing. Even with this being the case, Mike remains extremely self-aware of things he needs to keep working on in order to keep his eye on the prize. Being self-aware is the first step in remaining humble as a trader... if you have any amount of extended experience, you know pride truly does come before the fall, so staying humble is key and Mike is doing a fantastic job at it. Notes: Today we reinterview community member heyfordy. After joining CTU, Mike closed down his smaller accounts and consolidated into one larger brokerage. Mike went from utilizing Stocktwits and iHub daily to now completely avoiding them and scanning for his own trades. Unfortunately, he has been flagged for PDT a few times in the last couple of years which has forced him to focus on swing trading. Typical to many other trades, Mike has an issue with having a bias and will sometimes ignore a chart reversal because he thinks the fundamentals point in a particular direction. He likes to keep his trading pretty simple. There is no need to get fancy. The more people recognize a pattern or trend the more likely it will continue (the self fulfilling prophecy). He is exploring trading options but still going through the training for that. Mike has a long-term plan regarding his trading so that he will never be in a position where there is too much pressure to perform. He knows that this is a slow and monotonous process but that’s how success is created. Quotes: All of them were just puppet trading penny stocks and I’d get lucky with a decent entry and bank on it. If my track record is still positive by the end of the year I will fund the account a little more. I’d like to be more patient and stick to my plan a little tighter. Even if I chase, it will usually come back to the zone I wanted. I just look for patterns or strong uptrends or downtrends. The more common it is the more people see it. Links: https://claytrader.com/podcast/episode099/

You can never get too much of the classic fool's gold syndrome. Most veteran traders have had this syndrome at some point in their journey (myself included), and most newer traders have it right now. The key is, the sooner they realize it is the sooner they can begin to improve away from it. Our guest, Roland, takes us through the beginnings of his journey where he had some success, assumed he was a diamond in the rough and had it all figured out. Of course, this was actually NOT the case and he had to get kicked in the teeth via Mr. Market before realizing he needed to change his tactics and strategy. Roland has come a long way and is now focused on being a swing trader due to his day job. The journey he's been on to get him to the point of, so far, 13% account growth on the year is one filled with nuggets of experience we all can benefit from. Notes: Today we interview community member Roland. After college, Roland ended up at a desk job and his father suggested that he look into the stock market. After doing some options trading investigation via Investopedia and Stocktwits, he opened up a paper trading account. Unfortunately, he was trading with an unrealistic size and saw a 40,000 dollar gain in just a few days so now his interest was really piqued. Roland caught a low float runner that made substantial gains. He did capture some of the moves but after that initial success, he had more confidence in himself than he should have. After that great trade, he had a string of losers that were an eye-opener. After speculating on TWTR earnings, and averaging down, Roland took a big loss but the difference is that he accepted responsibility for his mistakes instead of trying to blame others. With Roland's work schedule, he started to get interested in swing trading futures. He kept making deposits into his account and took it from 25 to 40 thousand dollars. This year from trading January to May he made 13% of his entire account value. Quotes: My dad said options were a great way to make a lot of money with a little money. Just buying calls and puts. I tried to learn on my own but everything seemed kind of jumbled and couldn’t get a good grasp on things. I knew the whole ‘let your winners win and cut your losers fast.’ I sold everything at 6 with a stop loss but then it kept running. I didn’t sell because of greed. I could not do any wrong. I was just going to keep going. I had a 40k account when I started trading futures more seriously. Just trading patterns and can make a trade plan that works for me. Links: Trading In The Zone by Mark Douglas http://amzn.to/1P1TRKP

I've talked to 100's of people on the podcast, and while I've enjoyed every single one of those discussions, this is one that will stick with me for a long time. Sure, our guest Ron got on my good side by being a fellow graduate of The Ohio State University; however, where he's been, where he's at, and where he wants to go is something that had me motivated to the max. The story about him dragging a mattress into his office was pure gold in regards to work ethic and not offering up excuses... such good stuff! It was an honor to talk with Ron and his story is one that should get people talking for sure. Notes: Today we interview community member Ron. When he was a child, one of his father’s customers dealt with wheat and corn. He never forgot that interest in the market but waited until later in life to get involved. After recognizing that his job had no room for advancement, Ron got licensed to sell mutual funds so this forced him to learn more about the markets. He learned how to watch the various indexes that impacted the products that he sold to clients. Unfortunately, both Ron and his wife were diagnosed with cancer and this led him to focus full-time on taking care of her. This led to a lengthy delay in his trading but family first. Ron went looking around online for some trading education and after investigating a few different options, he settled on Clay’s material. He did the research regarding what college credits cost versus all the material he would receive for Claytrader University and decided it was a great deal for the money. While he has absorbed the education taught in the courses, Ron is currently working through platform issues and trying to find comfort in both practicing and executing live orders. He has his business plan laid out for his trading and now it’s just a matter of putting it into practice. Quotes: In 1946, there was a farmer who dealt with commodities. He traded wheat and corn. I was curious about that and never forgot it. We had plan B, plan C, and plan D and that has carried over into everything in my life, sometimes to my detriment. I got very interested in point and figure charts. I tracked the number of stocks every day. It took the noise out of the price action. Let this be a lesson when big life events happen. I was going through the material but some days I wasn’t getting much from it. I don’t need to learn everything. I need to focus on just the basic things to get started. There’s value in getting your feet wet.

This interview made me laugh for sure. Not in a mean way, but rather in a "I can relate" type way. Did I ever go as far as our guest? No... he took things to a whole new level when it comes to going down the penny stock rabbit hole. Our guest is community member Jeff ("Crestronwizard" in the chat room) is an open book about his journey which reveals all sorts of nuggets of experience that can be used as learning points for us all... myself and Chezz included! Jeff is now a full time trader and the way he got there demonstrates an excellent talking point regarding WHEN and WHAT it takes to actually go full time in trading. From penny stock koolaid to now being a full time trader, it's been quite the journey! Notes: Today we interview Jeff a.k.a. Crestronwizard in the community. He installed and coded for some various audio systems and during a job, he met a successful day trader and started to watch over his shoulder. After his introduction to this gentleman, he started to meet other traders throughout the industry but it wasn’t until quite a few years later that he got interested in utilizing charts. He didn’t trade much from 2005-2007 while his trading was mixed at best. He decided to focus on his business strictly. When he came back to trading he actually traded some penny stocks and took some money out of the market (sort of). He actually ‘drank the koolaid’ so much that he became a distributor for this company and was selling it on his own website and Amazon. After Jeff’s experience with penny stocks, he decided to learn options and while he had months of profitability, overall he ended up losing money because he wasn’t consistent with his sizing. Jeff has a game plan on transitioning to full-time trading. There is a big difference between someone who takes the leap to go full time and has no savings or has taken no preparation. Jeff is on the opposite side of the coin. This has been coming together for multiple years, and his goal is multiple income streams. Quotes: When I get into some things, I get in big. I met a daytrader who turned a small sum into 50-60 million and that’s what introduced me. One of the employees took 23 million dollars off the top and after they started investigating, the person in question took his own life. They had real products and I ended up becoming a distributor for this penny stock. I bought 2 pallets of this stuff. I was trading far out of the money and the other issue was ‘stepping up to go big.’ I went from 1, 2, 3 contracts to 20. Being able to know when something is going the wrong way and to get out. I’m not scared to do that anymore. It’s your emotions versus 100 million other emotions that are in the market at the same time. It’s a big chess game.

We're bringing back a former guest and hearing all about where he stands in his current trading journey. We interviewed Hamlet ("Crusader" in chat room) a little over a year ago and he's still going strong. I won't spoil the details, but all I'll say is that Hamlet (as far as I can remember) takes the top spot of all the guests we've ever had in regards to mastering his own "mental game". If you have traded in the stock market or even the cryptocurrencies market, you know that a huge part of trading is what goes on between your ears. As mentioned, Hamlet has taken the mental training to a whole new level and it was awesome to hear the passion he has to succeed. His journey has shifted a bit from where he started, but the core foundations are all still in place. Lots to learn from Hamlet's experiences! Notes: Today we re-interview Hamlet who goes by Crusader. We previously interviewed him on episode 79. Like many others, Hamlet originally thought the market was way too advanced for him but after further research, he invested in his education and realized that he could definitely trade the markets. While education is extremely instrumental for trading, there is always the personal struggle that all traders deal with. Managing our emotions is very difficult and anyone who tells you differently has not traded in the markets with their hard earned money. Similar to many other traders, Hamlet went through a rough patch. His competitiveness led to some large losses that made him recognize that he needed to step back and reevaluate the mental side of his trading. Hamlet is a big believer in multiple streams of income. He owns a business which is fully operational and his trading endeavor is his ‘startup.’ While he is not pulling profits out currently, he has a long term plan to achieve this. Quotes: Education is the first thing you should focus on before opening a trading account. It was just pure instinct to try to learn first. I can concentrate on a web of price instead of being exact. That’s what I love the most about options. One day, 6000 dollar unrealized loss. I just kept averaging down. It was hard and painful but you have to stay mentally tough. I do strictly options. I trade futures options because they move slower. I look for opportunities there and in the equity market. I went away from my bread and butter (options). I stuck my nose where it didn’t belong. It was a reality check. Links: https://claytrader.com/podcast/episode079/

We have a pretty unique situation which up until this point, I'm not sure we've encountered. I'm always up for a new experience and you better be too! Shawn is back with us again (chat room alias "Dimliwitti") to update us on what has been going on in life and in trading. I mention "life" because this plays a role in his current situation. Not a bad situation by any stretch, but he decided to "pay himself" handsomely out of his trading account which has reduced him down to a smaller account than what he is used to trading with. How has this impacted him? What are the things he has discovered about a smaller account? What is his plan of attack? We cover this and much more. Notes: Today we reinterview community member Dimliwitti who has been featured in podcasts, articles and webinars. After a review of what we talked about on his last podcast, we see how he has been doing since. Dim has found a true comfort with his brokerage and that is instrumental in preventing errors with your order entries/exits. While we don’t generally recommend some of these bigger brokerages since they charge more than others, with more competitive pricing it is pretty on-par in terms of cost. He decided to reduce his account size to keep his risk in check. This led to drastic changes in his trading because he had essentially reduced his account size by almost 90%. He had to focus on some lower priced stocks to keep his risk at a comfortable level. This definitely led to adjustments in terms of his choices on what to trade. Dim uses what we call the ‘fourth dimension’ where he uses some fundamental analysis in his top down analysis. While he looks at it, the time frame he ultimately chooses to trade will dictate how much weight he places behind that. On longer term swing trades, this information plays a key role. On shorter day trades, the chart will dictate the overall short term trend. Considering Dim trades full time for income, he treats this like a business in many different ways. One way is a performance review. While we believe profit targets are a dangerous game, he’s looking at his performance averaged over weeks and months. He uses these metrics to make sure that this business is worth his time and it has been quite fruitful so far over the past 2 years. Quotes: I had some huge losses before I got educated. But after education, things really turned around and I had some major wins. When you have a large account and subtract a zero from it, suddenly it’s not a very big account. Zeros matter. The biggest frustration for me was the sizes and the limitations of it. Kudos to folks who start with next to nothing and build it up. I’m looking at price and volume. If there is volatility in there, I’m really attracted to those. The frustration creeps in and you break rules. What happens when you break rules? You suffer the consequences. I did an analysis and found that my best hours were between 9:30 and 10:30. So lately, I just kind of disappear after 11AM. Links: https://claytrader.com/podcast/episode059/ https://claytrader.com/blog/buying-panic-3300-profit-10-minutes/

It's always enjoyable to bring back previous guests who we've had on the show, and that's exactly what we do in this "live coaching" discussion. I say "live coaching" because in the free-flowing format of these interviews, we stumbled down some fantastic rabbit holes that lead into assisting our guest with some annoyances and frustrations in his trading. Our guest, who goes by "Remy" in the chat room goes into open details about how his journey has been progressing and what hurdles he realizes still exist. If you take anything away from the interview, please see how being self aware and honest with yourself can lead to getting yourself onto a path with a clear cut goal that'll provide a solution to the problem. A lack of honest with yourself goes nowhere, but being honest, as you'll witness by being a fly on the wall can open up the doors of progress. Notes: Today we reinterview Remy who made his initial appearance in episode 39. His journey started by puppet trading a biotech trader but quickly realized that his beginner's luck ran out and he gave back all his profits and then some. Remy has had to trade from his phone for a long time but he explains the pitfalls of the Robinhood brokerage and why it doesn’t work with the names he trades. While he excels paper trading, when he gets behind the wheel of his live account he struggles to emulate that success. The big problem he struggles with is his emotions that are associated with a small account. Clay recommends that Remy save up for a larger account so his ‘account protectionism’ won’t lead him to making emotional decisions. Losing 20-50 dollars when trading a volatile stock like TSLA is completely normal but when you are operating with a 500 dollar account, you are much more emotional taking those losses. Quotes: I lost 200% of my winnings by puppet trading and I realized that was not a successful route for myself. In a split second, the thing dumps and I’m sitting there typing in my stop loss and hoping my wifi works. I have been trading with emotion. I’ve had poor risk management but I definitely see the light at the end of the tunnel. I started out with 5 contracts but needed to really scale it down. I had a poor entry and lost 50% of my account. I’ve been able to read the charts and recognize patterns. I’m ecstatic about that because it’s come a long way. Links: https://claytrader.com/podcast/episode039/

There is zero doubt in my mind that many people will be able to relate to this trader's journey. Thanks to the openness and honesty of chat room member "Luna" (same name in chat room), we were able to go step-by-step through a journey filled with many struggles; however, at the end resulted in a spot that many new traders fine themselves in. The this "spot" is a problem, the good news is the solution is very straight forward. Sure, hearing what Luna realized he needed to focus on is not the most attractive and sexy thing from a marketing perspective, but it's the truth and is something that EVERYONE and ANYONE can do. Notes: Luna has been a member for many years and got interested in trading in 2012. He got involved when a bank said that they would add a small amount of their own funds if he made a large enough deposit to start an account. He planned on being a buy and hold trader. He began to buy shares of companies he was familiar with/used often in everyday life. In the next few years, Luna got interested in penny stocks based on penny stock newsletters primarily. Unfortunately he usually ended up buying in the ‘dump phase’ of a pump and dump. Luna got hosed on one trade and blew up his account so this led him to the rebuilding phase. After learning about options he decided to focus specifically on them to trade larger names that moved less on emotion. To avoid the ticket charge at his brokerage, he ended up trading 5 contracts at a time which was much larger size than he should have used. He is currently paper trading to solidify his strategy while he saves up to build up an account. He has opened and gone through multiple 100 dollar accounts so he would like to build up a larger account so that he didn’t have to go all in on every trade with a small account. He is building his account with a good old fashioned JOB. Quotes: I was completely blind to the market. I thought you had to work for a company to even buy shares of that company. I blamed myself. I was completely uneducated, throwing darts and not knowing what I was doing. I did a whole week of paper trading and then I went live. I didn’t keep it realistic either. I was greedy. Trying to build the account a little higher. I’ve come to realize I need to start with more than 100 dollars. I am passionate and persistent to figure this thing out and not give up. I will learn how to do this. Links: https://claytrader.com/videos/trade-penny-stocks-steroids/ Books: Trade Mindfully, The Inner Voice of Trading, and Trading in the Zone

I recently got an entire new trading computer that was a custom build. The person I used to build it is the "techie on staff" - itNate as we call him. He is essentially like Batman as he usually is operating in the shadows of the site doing all the behind-the-scenes stuff..... however, today he's stepping into the light to talk about computer stuff and why/what he chose for my new computer. Our esteemed cohost Chezz is also quite tech savvy, so him and itNate has plenty to talk about as I listed and asked newbie questions. If you are thinking about getting a new trading computer or perhaps doing a bit of upgrading, this discussion will please you I'm sure. Notes: Today we interview our IT guru, Nate. We discuss the logical order for building a Computer. Step 1: Pick your processor. Nate recommends a Core i7 7700K but remember, there is always updated processors every few months. The big emphasis would be to focus on an i7 over an i3 or i5. We are big advocates of Intel over AMD based on our personal use. Step 2: Pick your motherboard. Things to focus on include making sure your socket type is compatible with your processor (CPU). You’ll need to forecast how many video cards you may need and this will be based on how many monitors you plan on having. 2 video card slots is pretty standard and will cover almost everyone's needs. Nate purchased a MSI Arsenal Intel Z 270M board for Clay’s most recent build. Step 3: Monitors. We have a deep discussion on how many monitors you think you will need. We are firm believers that less is more. Clay and Chezz rarely use more than 2 monitors for trading. Monitors are also the easiest thing to upgrade and add in the future so if you’re budget is tight, start with 1 and expand later. Nate picked out Dell 4k 27” screens. Model # P2715Q Step 4: Video card. Nate picked a PNY Quadro K1200 which handles all of Clay’s 4k monitors. While you don’t need a gaming graphics card to handle trading, you just need to do some long term forecasting regarding what you will be using the computer for. Workstation video cards will be absolutely fine for trading. We also highly recommend Nvidia cards over AMD. Step 5: Memory. Your motherboard will determine what specific speeds you need for your RAM. We recommend never going below 8 gigs of RAM and 16+ will set you up for ‘future proofing’ the build. The new standard is DDR4 and it is also recommended if you ever upgrade in the future keep it the same brand, same model. You want complete compatibility when it comes to memory. Step 6: Storage. We recommend solid state drives (SSD) since they make programs and windows load many multiples faster. While traditional hard drives (HDD) are a good amount cheaper, they are more prone to crashes and as stated above, much slower in terms of loading programs. Step 7: Case. These typically don’t matter as long as you get the size that your motherboard requires. Nate used a micro ATX motherboard so he got Clay a micro ATX case. Step 8: Power supply. PCPartPicker can help you estimate what the power draw will be based on your components so as long as you get one that sufficiently meets the needs, you will be fine. Ex. Your components use 400w of power. Buying a 500W power supply would be more than enough. Step 9: Operating System. You will want to get a 64bit operating system as that is the new standard. We are content to recommend Windows 10 since it has been out for a while and has patched any major issues. Trading platforms are mainly focused on Windows over Apple since a majority of their user base uses Windows. Additional: Uninterruptible Power Supply. This is what we call an insurance policy. If the power goes while you are actively trading and your power goes out, you’re out of luck and better hope you can get on the phone to call a brokerage to close your trades. We prefer to have power supplied from this power supply (UPS) to give us 15 minutes of battery power to close our trades and not have to deal with the headache of literally being in the dark. Computer Parts: Processor: Intel Core i7 i7-7700K – http://amzn.to/2tsWuoB Motherboard: MSI Z270M MORTAR – http://amzn.to/2ttaTkT Memory: Ballistix Sport LT 16GB – http://amzn.to/2tti7Fq SSD: Samsung 960 PRO Series – http://amzn.to/2usGrUC Optical: ASUS DRW-24F1ST – http://amzn.to/2tyA7yF Video: NVIDIA Quadro K1200 – http://amzn.to/2sKzuCc Power: Corsair CX430 – http://amzn.to/2ttbovh Case: Antec VSK3000E – http://amzn.to/2tyjhzT OS: Windows 10 – http://amzn.to/2tsWKnz Links: Video: How To Build A Trade Computer https://www.cpubenchmark.net/ http://www.pcpartpicker.com/

An open and transparent book. That was certainly the overall theme of this Welcome Back interview. Our guest has not only been on the podcast before, but I've also hung out with him in person on two occasions so I wasn't shocked by his honesty... the guy is a quality individual without question. Stephen (chatroom alias, "PH") shares his continued quest to gain solid consistency in the market as he trades and goes through many situations most people can relate to. He still has things to work on, but he's overall in an uptrend and that is what matters. Higher highs and higher lows. He also revealed a new venture he is undertaking that is designed to help all new traders. Be sure to stay until the end as we talk more about it. Notes: Today we are speaking with Stephen a.k.a. PH. His original podcast is linked in the notes below. Stephen started off mainly investing in companies he was familiar with when he just started. While Stephen went through many different strategies starting out, he had to go through that to find what exactly he is comfortable with and excels at. Now he primarily focuses on trading gaps which has led him to a high win rate and much smaller losers than winners. Stephen has utilized the concept of R, which is initial risk. This ties directly into Risk vs Reward and the big emphasis Stephen makes is the fact that it is dynamic. While he accepts the risk on entry, if he sees a more logical location to move his stop loss and lose less, he always will! If a trade doesn’t meet his determined targets vs risk, he passes on the trade. He has rules that he sticks to every trade but there is a need to have some flexibility. Considering Stephen is an entrepreneur, he launched https://www.stocktradersjourney.com/ to document his journey through education and his trading. He offers reviews of various trading education, trading signals and anything else that pertains to trading the market. He is doing this without any affiliation compensation. We truly enjoy these follow up interviews to really show the progress our community members have made. Learning to trade and trade well is not an overnight process but with hard work and dedication, any one truly can learn how to do it. Quotes: It’s the evolution of the journey and trying to find the strategy that most fits our individual personalities. The R is your risk value. Every single trade I’m willing to risk 1R to make 2 or ideally 3R. I don’t just set it and leave it though. You want to have rules but need to remain flexible. The market isn’t a rigid thing. It’s a living, breathing thing you can’t control. The purpose of this website is to share with people the mistakes I’ve made so they can learn from them. Links: https://claytrader.com/podcast/episode015/ https://www.stocktradersjourney.com/

In the majority of situations, the biggest struggles as a trader comes from the person looking back at you in the mirror. Of course, many people will blame external forces no matter how crazy it may appear; however, for the traders who are self-aware and honest with themselves they understand trading is a battle against ones self. Our guest from the community Eric (chat room name "Gman") does an awesome job of sharing the battle he has faced with himself. As you will hear, a strategy of listening to others is not going to lead you to profitable places in the long run, but, this is the cruel joke of the markets. If you can't depend on others, you need to depend on yourself...YET, that is where the big battle awaits. This is why trading can be so frustrating and difficult. Eric takes us down some great rabbit holes of discussion, so let's go! Notes: Today we interview Eric also known as Gman. While he doesn’t hang out in the chat rooms too often, Eric really took advantage of the education offered. A friend of his tried to get him involved into the market 10 years ago but he wasn’t very capitalized so he gave it up for a few years before his interest was piqued again. He drank some koolaid on a 5G LTE technology company that was trading in the triple zero’s. Unfortunately he lost everything as the stock went to 0. Eric started to recognize that message boards became a place for people who made the same mistakes to comfort each other. This was what led him to realize that there is no external factors to blame for his failure or success. He realizes that he is more often than not trading against himself. It is his emotions and fear/greed that leads to losses generally. After 4 years of sticking with trades, he realizes this is a part of the journey that he had to go through. He emphasizes that he doesn’t want anyone to find overnight success. People who experience that generally give it all back and then some instead of learn valuable lessons. Eric has made huge strides going from relying on other people at the message boards to give input on where to enter, how long to hold and where to exit to now being the CEO of his trading business deciding all of the above based on his risk criteria. Quotes: I opened an eTrade account with 1000 dollars. I enjoyed the market but didn’t have the money or education to do it. Some guy would come on and say ‘look at this patent. In 180 days it will go through so we have to wait.’ That’s why people like message boards. You can find like minded people who are making the same mistakes you are. I feel great but I have so much further to go. It’s a never ending process of looking at yourself and improving. When I trade, I know my charts. I can pull those charts up and analyze it to comfortably plan a trade. Links: https://claytrader.com/videos/1-penny-stock-short-scam/

The brutal honesty our guest in this interview afforded us all to hear a very cautionary tale about the very real risks that exist in the world of trading. While these risks can be controlled and navigated, when a lack of understanding enters into the "new trader equation", the numbers can turn nasty in a hurry! Mark (chatroom alias "hyprsnpr") takes us through the various loops his journey has contained, including those dirty loops that many people are afraid to talk about. Because of Mark's courage and bluntness, we all as listeners (both new and old traders) are given the opportunity to learn and have reminders shoved in our face. I don't like beating around the bush, I'd much rather have it hit me between the eyes and that's exactly what you get in Mark's journey. Notes: Today we interview community member Hyprsnpr also known as Mark. He had a roommate whose Dad was successful in trading the market. They focused only on covered calls. Another pitfall was Mark was going all in on every trade he made and when bad news came out in that stock, his account essentially went to zero. After taking a 6-7 year hiatus, Mark saved up and once again set a portion of his funds aside for trading. This led him to start getting interested in investing but after a few years of going nowhere, he eventually found Clay’s youtube videos and joined the community. He flew through the courses after joining the University program and started trading before actually finishing all the courses. He found immediate success, which is a double edged sword, but eventually his over confidence led to trading a size much too large which led to a large drawdown. He decided to go back to paper trading and get back on course. Mark kept his size very realistic for practice. He knows what his comfort level is regarding trade size and wanted the transition from paper trading back to live trading to be 1:1. This is a great way to practice because your gains and losses will be the same size and your comfort should grow as you prove to yourself that you know what you are doing. What is very impressive is that Mark knows what his strengths are regarding trading. He knows his setups, he knows his time frame, and he knows his risk. This solid plan forms a foundation to keep him accountable and ensure that he only takes good entries and avoids forcing trades when there is no setup presented. Quotes: I thought there was no way out of the options unless it got exercised or expired worthless. That’s how little I knew. I thought it was going to go to the moon. I watched it fall to 5c but luckily it ended up turning around. I was revenge trading. I would say, ‘I lost 1000 dollars yesterday. I’m going to make that back today plus 1000 more.’ The reason I like options so much is the RvR standpoint. I can buy the equivalent of 100 shares for pennies on the dollar. I still struggle with the voices every trade regarding greed and fear but I’ve been much more disciplined. Paper trade however long you think you need to and then multiply that by three.

By far one of the hardest things to do as a trader or investor is to follow the rules. Assuming you've traded before, I'm sure you can relate to just how hard it can be when real money is on the line. Our guest, Ben, has a great story he shares with us which finds a centralized theme in following the rules vs. not following them. Ben's journey took him to the edge of almost wanting to give up on trading, but he then discovered another area of the market that re-energized his passion and drive to succeed. After adding in more tools to his toolblet, adhering to the rules and risk management systems became easier and easier. There is no question in my mind that there is at least a few things that we can all relate to in Ben's story. Notes: Ben’s dad was always interested in economics and the importance of savings. This was something that was taught to Ben at a very young age. While he was deployed overseas, since the market opened up in the afternoon and some other members of his company were trading, Ben started to get involved in long term investments in names he knew. This was unfortunately timed during the market collapse of 2008. Lots of gains can be made in the sub-penny market, however, after he looked into some of the companies, Ben recognized that most of the names moved based on hype versus actual performance or products. While Ben had transitioned back to civilian life, he did start trading after taking Robotic Trading but it became quite clear to him that he didn’t have a clear view of the whole trading process yet. This led him to Claytrader University to learn how to apply all the pieces of puzzle. Ben thought about giving up on trading. He was slightly jaded at these low price low volume stocks but after learning about options, this opened up his opportunities to trade larger and more stable names. A big turning point for him was waiting for a chart pattern to really leap out at him versus just making a pattern out of nothing. Adhering to his risk management principles, this gives him further hope of becoming a full time trader in the future. Right now, trading is supplemental income for him and his family. Good habits can scale which is what he is focusing on. Quotes: One of the guys was big into penny stocks. I was trying to stick with names that I knew. All well known companies. In hindsight, what are you thinking? This isn’t just a bad choice… it’s a very bad choice. (regarding sub-penny stocks) I was up about 20k on a 4-5 thousand dollar investment. Long story short, I broke even. I was putting a lot of pressure on myself to try to be successful without having the capital or understanding clearly what to do. I was kind of ready to give up the whole trading idea. Options can be very profitable if you are disciplined. The chart showed itself and I followed the principles which led to a very successful trade.

First a warning. This the second part of a two part interview, so before listening to this one, be sure to listen to episode 120. In Part 1 our guest, Janice Shell, sat us down for a story about one of the biggest penny stock scams in the past couple decades. It was truly a fascinating story that would make a great Hollywood movie; however, in this episode we move into more practical areas of the penny stock market. Janice and I talk about penny stock shorting, dumb excuses, and some tips that any newer trader who wants to get involved in penny stocks should understand and implement. If you are interested in trading penny stocks, then I'm not exaggerating when I say this is an interview you NEED to listen to. Buckle up for some very practical advice! Listen to Part 1 of this podcast: https://claytrader.com/podcast/episode120/ Notes: Janice discusses the unfortunate myth in the penny stock world that the market makers are the evil people who short and kill penny stocks when in reality, a market maker is generally a computer that makes money on the spread of the trades. Quotes: Market makers make money on the spread. On penny stocks, the spread is huge. People are conditioned to believe MM’s are evil. Investing is not a team sport. Do not get involved with teams. Penny stocks are not investment quality.

I was a bit nervous heading into this interview as I've known of and respected this person for as long as I can remember. If you're not aware, my first introduction to the stock market was via the penny stock market over 10 years ago, and I remember this person from way back then. The name Janice Shell is synonymous with penny stocks assuming you have been around them for awhile. If you are involved in penny stocks but have not heard the name, it's only a matter of time before you see someone blame her for something or use her name as a warning. She has been involved in the penny stock market for over 20 years and has seen it all. This has given her the unique advantage of being able to tell awesome stories and offer up great insights into some of the common "beliefs" that are floated around penny stocks. Even if you don't trade penny stocks, you'll get a great entertainment out of Part 1 as she tells a story about a penny stock company that is hard to believe... but it's true. Notes: Janice has been interested in the market since she was a child. Typical to many others, in her high school economics course, the class picked a stock and evaluated it over a 3 month period. In 1996, Janice started to investigate stocks she was interested in. She ran into a message board and while she intended not to post, she only made it 24 hours before posting her first response. She befriended some people on this message board and they started looking into various names and what they really do. Janice has many horror stories of pump and dumps and the resulting actions of not only the stocks but the legal ramifications that would follow. Many of these tales involve getting investor interest before diluting the stock to unbelievable levels. She has watched many of these shady companies CEO’s and other high ranking officers end up in jail, some of which are still in jail to this day. The amazing thing is that even after clear evidence of a scam, there are still some people who fully believe that this ‘penny stock gamble’ that they originally bought into will come to fruition. Quotes: I chose the most inexpensive listed stocks. I would buy and sell support and resistance. I realized in real life this wouldn’t work. The SEC finally revoked their registration years later. It took them that long. That was a penny stock with a product. He decided to sponsor a NASCAR event and encouraged people to buy stock in his company. The product was the funny car. There were still loyal stockholders. The SEC showed logs that had appalled even the most loyal of holders. It’s one thing to believe a scam will come true. It’s another thing to have your penny stock gamble to lead to hallucinations.

One of the most common tactics the emotion of greed uses in the world of trading/investing is seduction. The greed voices begin whispering into your ear and causing you to fantasize about all sorts of big/quick money dreams... and then you're sitting in a spot regretting your actions. Our guest from the chat room community DJ shares his experience with this. As you will hear, he had a very logical longer term strategy that was working and his account was growing, but then the biotech stock voices appeared. This lead to some lessons to be learned for DJ; however, you as a listener can learn from them without having to go through them! Notes: DJ got interested in the market a few years ago while he was in school. He would see Mad Money on the television and started to track gainers and losers. DJ was wise enough to avoid forums and message boards to find his trades. Even though he had a small account, DJ focused on pharma stocks which are extremely volatile and this was reflected in his profit and loss with big swings up and down. DJ started to contribute to his trading account over a year and a half and now had over $25,000 dollars to trade with. Most of this money was going into ‘safer’ long term investments but he strayed from the path and put a portion into the pharma stocks which led to a huge unrealized loser which he luckily recovered from. After joining the community, DJ joined CTU and decided to focus on options. He wanted to utilize his knowledge of charts and risk with the leverage associated for options. He liked that he could use a small amount of capital to trade larger names. Since DJ works full time, he finds it is easier to swing trade but he does have aspirations to eventually day trade in the future. He likes to try to learn the personalities of stocks for maybe a month generally before he puts on any trades. He now also believes in the powers of numbers. DJ understands that is a numbers game and that he will not make money on every trade he puts on. Now he simply takes his losers and looks for the next opportunity. Quotes: “I would just jump on one of those gainers or losers if I thought it would bounce but I was totally guessing.” “A lot was going into AAPL and GOOGL but I went totally crazy and put lots into CARA. That was my wake up call.” “Being able to put in 500 dollars and make a few hundred percent profit was very appealing. It is good leverage.” “If you look at the same ticker it tends to do the same thing over and over.” “Keep those losses smaller, doesn’t hurt as much and know that you went in with a good play.” “Go learn something. Find some method and learn it and use it. Don’t just throw your money in and wait for good news.”

For those in our trading community, odds are, if you've been around long enough, you've seen the name "Stock Gambit" appear in the chat room. He has been around since nearly the start of our community. He is in "ninja mode" for the most part, in fact, as you'll hear on the interview, I wasn't even aware he was a full time trader now! It's always fascinating to hear about people's journey's from working at the 9-5 J-O-B to being their own boss and working from home. That's what we get to hear all about in this episode. We hope you enjoy! Notes: Stock Gambit has been a long time member and we’re excited to interview him today. His parents were always involved in the stock market from the time he was a child but it didn’t appeal to him until many years later. His father used technical charts for many years for his own trading. Gambit wanted to find some people to learn from and this led to him following traders on twitter and puppet trading him. After some further reflection, he realized that he needed to learn to spot trade opportunities for himself. This led him to get involved with Claytrader courses. While he found some success in penny stocks while the OTC market was filled with volume, that eventually fizzled out and led him to close all of his positions. He credits the Penny Stock Survival Guide for him making that decision to look elsewhere for trades. He started to trade common shares and paper traded forex. Gambit has traded almost every trading vehicle under the sun but he thinks that it is important that people realize what is out there and what works best for them. The repetitions of starting small and getting comfortable gives you the ability to scale up your strategy without spiraling out of control. Quotes: “My father gave me a book and said read it. I read it and was completely confused. It was all about technical charts.” “My father would say ‘I didn’t care what I would trade as long as I made money.’ “ “I was always concerned that forex pairs would crash. Clay suggested I look at basic options since I could limit my losses.” “You feel comfortable when you feel comfortable. It’s the number of repetitions and staying small.” “If you believe this is something you should be doing and it is right for you, you should persist.” Links: https://claytrader.com/courses/penny-stock-survival-guide/

We're at it again! Our 2nd ever in person video podcast. The special little twist this time is I'm checking in with our esteemed co-host "Chezz". He was the guest on episode #1, so yeah, it's been awhile since we've gotten an update on his trading journey in the markets. We talk about an abundance of issues including how important it is to factor in "life events" with trading goals. Chezz and I talk about what I believe to be very practical tips and considerations that need to be made in order to assist yourself in improving as a trader most efficiently. If you normally listen to the podcast, be sure to check out our YouTube channel or show notes page to watch the video. Notes: Today we interview Chezz, the cohost of the podcast while we were in Columbus for a community meetup. We pick up the story from 2 years ago when he did his first podcast. To summarize, Chezz quit his job and decided to trade full time after going through the courses and paper traded for many months. He directionally traded long options but struggled with the fact that he may loser 7 out of 10 trades. While he didn’t blow up his account, he mentally struggled with the success rate. Chezz would go through 6+ hours of content at a day at a minimum and it was definitely overload. You need to pace yourself as you venture into something new. You can’t learn a brand new trade overnight and everyone will take a different amount of time to digest what is taught. After giving forex a try, Chezz started trading advanced options. While he was finding success, he wasn’t pleased with the returns. Waiting 21 days for a trade to play out to make a few hundred dollars didn’t seem like a feasible way to make a living. This led him to trade futures for faster returns. That futures account he funded was strictly to pay for bills related to his wedding. While he almost doubled that account, he took a big string of losers when the market was in consolidation and he says the best thing he ever did was stop trading a few weeks prior to the wedding. Big life events will affect your trading especially if you tie those funds to a tangible purchase you’re trying to make. Your trading capital should be looked at as working capital and that’s it. Chezz is back to trading advanced options since he’s always found the most success with that vehicle and his confidence comes from understanding how to spot trades and how to manage trades that go wrong. Quotes: “I realized I needed something with structure and closed my SureTrader account to pour the remainder of it into my education.” “I had trouble accepting I was wrong 70% of the time. Mentally I couldn’t handle it.” “I promise you that big events in your life will affect trading. It sits in the back of your mind and makes you do foolish things.” “Foolish me, I’m either going to blow this account up or I’m going to recover. Stupidest trading I’ve ever done.” “Recognizing that it’s a numbers game helped me overcome the recency effect. It still sucks to lose money but it’s the long game.” Links: https://claytrader.com/podcast/episode001/

A community staple is back to update us on how his trading has been unfolding. For those of you who have been around awhile, the name RDTrader12 should sound familiar. He's been on two previous podcasts and I've also interviewed him for the live webinars in ClayTrader University. He's a great human being and someone that continues to improve with his trading. As you'll see, his job and schedule took on some changes which altered his trading situation, but he rolled with the punches beautifully and is back in the swing of things. The coolest thing is how he determined he needed to "slow down" in order to "speed up". I realize that seems like an oxymoron, but I promise it isn't as you'll hear. Let's get to it! Notes: Today we revisit with RD and pick up from where we left off in his last episode. In summary, he was solely day trading options in 2015/2016. He recognized that he wanted to trade futures and began working toward that with paper trading. The only reason RD wanted to trade futures was because he believed futures were a better day trading vehicle. He didn’t enjoy the factor of theta working against him in his option trades. RD knows that it is just one of the nuances of options and really comes down to personal preference. RD took 12 weeks to paper trade futures exclusively and he admits that he unfortunately was a victim of fool's gold. Those 3 months were very volatile and when he went live the market was the complete opposite with very little volatility and movement. He wasn’t able to adapt at first. While he knew his strategy had worked, it wasn’t until he hit the brakes and evaluated his live trading that he recognized that the volatility of the market as a whole had changed. After taking a hard look at his data, he realized he was overtrading and instead of taking 10+ trades a day, he now tried to find one or two great setups. It was a very big step forward in his trading to trade less and he found he was actually able to split his attention to both options and futures again since he wasn’t forcing trades the entire day. Since RD’s new job took him away from his desk, he decided to reduce his position size and widen out his time frame for trading. He also started to utilize trailing stops and other methods to manage his positions since he couldn’t actively watch them. He also does his ‘market homework’ such as identifying levels and trends before the market opens so he can set his orders and go about his day. RD is also looking into utilizing advanced options to supplement his swing trading of futures. His new trading style much closer resembles swing trading instead of day trading which works well with him having a very busy work life. Quotes: “A chart is a chart. Once you learn the nuances, it’s trading as usual. I shut down the options platform and paper traded futures.” “Once you understand it’s not this big mysterious thing, it’s just another chart, I felt pretty comfortable pretty quickly.” “I stepped back, got my confidence back and adjusted my strategy to not only the market conditions but my risk vs reward.” “I reduced my risk as I adapted to the environment. I really like to put my stop losses under consolidation points.” Links: https://claytrader.com/podcast/episode005/

This is Part 2 of a two part interview, so for the best listening experience, be sure to go back and listen to episode 114 first. Chezz and I pick up right where we left off with tfletch and the craziness continues. With that being said, things begin to calm down too as we learn about how he is now putting everything he has learned into a sustainable and consistent trading plan. He had to learn a tough lesson when first going live with a bit of false confidence, but his self-awareness and lack of ego allowed for him to quickly realize "what" the issues was. When you know what the issue is, implementing a solution becomes much less of a challenge. Like Part 1, there are several tid-bits of great wisdom from experience dropped that everyone can learn from. Notes: After going through the courses at Claytrader University, he found that he struggled with paper trading because he wouldn’t pay as much attention as he normally would if he had a live position on. By no means does he advocate people cut their practice short but he personally struggled with it for the reason above. Tim now carries many positions to keep diversified and utilizes advanced options for this portfolio. The next step in his journey includes learning to trade futures with what he has already learned so now he is extensively studying the chart to learn the in’s and out’s of the product. Even though Tim thrives on fast paced environments (since he works primarily at auto auctions) he found that day trading just wasn’t possible to fit in his schedule just yet. In the future, possibly, but right now with how his current work schedule is, it’s just not possible. If Tim could go back and give himself one piece of advice it would have been to start sooner. He recommends if you’re a young guy or any age really, buckle down, work hard and accumulate money while at the same time focus on your education. Within a few years you will have quite a large knowledge base and have the largest chance at success in trading. Quotes: “I have to tell myself if I’m going to carry 30 positions and they will all be in my favor, you’re nuts. There are always problem children.” “I think it’s as important to learn what not to do as it is to learn what to do.” “I want to be totally comfortable day trading before I commit to it but I’m not there yet.” “Develop a plan. Say ‘this is where I want to be at this point and this is where I want to be at this point’. “

I had the pleasure of meeting our guest at our Nashville meet-and-greet and after talking to him there, I knew he needed to be a guest. I guess I'll pat myself on the back a bit and proclaim that I made a wise choice. Our guest, "tfletch" as he is well known by in the chat room, has been through quite a bit during his journey of life and the markets... how much so? Well, this interview turned into a two part episode. From his beginnings in the car industry, to his wild ride of being a future's broker, to his desire to "get serious" about trading... the man has gone through a lot. Oh yeah, I didn't even mention the part where he authored a book! New or veteran as a trader, I have no question you'll be able to gather a few nuggets of wisdom. Notes: Today we talk with T. Fletch from the community. He actually started his trading journey by trading a ‘tip’ he got from a coworker when he was in his early 20s. It was a penny stock and it ultimately went to zero. Quite a few years later, still in his late 20s, Tim got his hands on a stock/futures trading manual that both him and his brother read. His brother ended up opening a futures brokerage and was doing extremely well for himself but he needed help with the huge amount of clients. He offered Tim a job and he decided to leave the car dealership and work with him. After four years at the brokerage firm, Tim decided that it wasn’t for him and it was starting to take a toll on his personal life. He left that industry to go back to what he knew, the car business. As both him and his wife had saved up in their retirement accounts, Tim’s wife actually told him that he needed to learn how to manage them since she knew financial advisors did not have their best interests in mind. This led him to search out some books and podcasts to start the learning process. Quotes: “Years ago when we lived in California, I got introduced to penny stocks. A whole bunch of us decided to buy into one. That money is gone.” “We just puppet traded. Ken Roberts had a hotline that you would call in and I started a spreadsheet of his recommendations.” “In four years of being a futures broker, not one client closed an account that had made money. Not one single one.” “Young people, trust me, before you know it you will be turning 60 and if you haven’t saved it’s your own fault. Time goes by fast.” “Claytrader University was the structured program that I needed and what I was looking for. It couldn’t have been better for me.”

One of the more common problems have as newer traders is shiny objects. You hear about one thing in the market, so you focus on that. Then you hear about something else, and before you know it, you are off focusing on that. While there is certainly nothing wrong with having multiple tools in your trading toolbelt, you must master one tool in full at a time. Thanks to our guest's openness and transparency, "GeeSama" from the community, we get a great look into just how annoying and frustrating chasing shiny objects can be. To bring things full circle, we all get to hear the benefits of simply slowing down and putting all your brain power into a single tool. This is an interview any new or veteran trader can benefit from. Notes: In today’s podcast we speak with community member GeeSama. His introduction to the market was through the book Rich Dad, Poor Dad, that was passed around at his day job. It outlines a few ways to get out of the ‘rat race’ and he gravitated toward the stock market to achieve this. After funding an account, Gee had some nice fool's gold to start with a sizeable gain on his account. He never actually had any blowout losses because he had a max amount of money to lose per trade in terms of a stop loss. While it helped, his stops were not always in logical locations. After joining the community, Gee realized that he wanted to learn from Clay and purchased University. After he would finish each course, he would paper trade each strategy for a few weeks but recommends that people paper trade longer. While he was focusing on shorter term day trades, he eventually realized he has a much larger success rate at a longer term time frame. This is what ultimately led him to advanced options trading. Unfortunately, Gee has a bad habit of ‘style hopping’ and he ultimately abandoned that successful strategy to try to day trade futures. Futures actually led to his largest loss which totaled about $5,000 dollars in one day. After that he took a 6 month break to regroup and figure out how not to repeat the mistakes of that day. He went back to advanced options and finds he trades much better being the casino versus the player. He is a big believer in the probabilities. Quotes: “I didn’t have any business ideas. I’m an introvert so real estate was out. The only option I had left was the stock market.” “I decided to take a leap. Obviously he knows what he’s talking about. I have no idea what I’m doing. I wanted some sort of structure.” “That led me down a bad rabbit hole of averaging down on contracts to try to get to break-even.” “I was pretty much riding the coattails every day I came in and had significant profits. I was overleveraging myself.” “I’m taking a little bit out of each paycheck and funding the account so I can consistently add more positions.” Links: ClayTrader Guns: https://www.youtube.com/channel/UCeMTq2i6G59CkanJsHMQIVg

There is a unique twist to this week's interview, and I'm a huge fan of it! Based on the feedback we've received from you as listeners, whenever we touch on the topic of personal finance, people get value from it. This is exactly what we're going to do by bringing back former guest Pendar (same name in the chat room). We do talk stock market and trading, but the main focus to is offer inspiration and show that it is 100% possible through pure hard work to take a messy situation within personal finances and get it cleaned up. Speaking for myself, I know I was motivated after talking with Pendar and got plenty of the "no excuse" mentality that I always try and focus on. Notes: Today we revisit with Pendar from episode 16. After finding initial success trading his IRA he suffered some significant drawdowns after being overconfident which led him to the path he is currently on. It was a very big eye opener for him. After giving back his gains, once he got to break even (which is always a big psychological level), he started to put on even riskier positions to get back into the green which ultimately led to that accounts demise. He took a hard look at his finances and realized that he had to get rid of his debt but that would take some big life changes. Budgeting and multiple income sources were going to be his solution. He has no desire to pay the interest rates on his debt and that is his big motivator. Pendar is big into having separated accounts for various expenses such as auto maintenance, vacation, bills, savings, etc. Keeping these separated makes it easy for him to not only budget for the future but to also make it easier to allocate his income so that no ‘surprises’ will clear out his checking account. He’s a big believer in being prepared. He has also invested in a steam cleaner which has already returned 60% of it’s value. This is just one example of his multiple sources of income. As he said, he gets paid to literally just push a button. Pendar is not going to invest in any more business models since he doesn’t want his overhead to get too large. Quotes: “I was trying to beat the professionals at their own game. Instead of going 45 days out I was trading 21 days or shorter.” “One of the biggest signs of maturity is saving up for something you really want to buy and paying for it in cash.” “It’s all about the process, not the goal. Follow the correct process every single time.” “By 10pm at night I’m going to sleep and I’m up at 4am. That’s 6 hours. I want to be up and working by 5am.” Links: STR 16: https://claytrader.com/podcast/episode016/ Mint Budgeting: https://www.mint.com/ Pendars UBER code is: https://partners.uber.com/i/7zm95 Pendars Lyft code is: https://www.lyft.com/drivers/PENDAR120983

It's been a while since we've last spoken with community member "Etan" (alias in chat room), but there is quite a bit to report from our last conversation. Our previous interview had Etan with his ax to the grindstone paper-trading and fine tuning a trading strategy; however, as you'll hear, life got in the way and knocked him off course. What I like best about all of this is Etan did not pull out the pity-party-card, he just adjusted and did what needed to be done. We once again have some interesting free flowing conversation... so by all means, please come be a fly on the wall. Notes: Today we revisit with community member Etan. He was focused on shorter term equity scalping and had paper traded for quite a long time with modest success. Unfortunately, his day job picked up very quickly so his time to trade had shrunk considerably so he decided to go back to his old style of swing trading after trying to trade futures. Etan summed it up very well about how he had a lack of ‘chemistry’ with futures. When you are uncomfortable trading something, no matter what it is, you will not make rational decisions. Comfort in your trading is key and comes with practice and persistence. What he really enjoys about options is that he can set and define his risk in advance. It is much less rigid and much more flexible than futures for him and this fit with his personality much better. Etan is a big believer in logging not only his trades but his thoughts/feelings on the trade as well so that he can look back when he gets in a similar situation and recognize that it’s not as bad as he may think and that he has proven he is capable of managing this regardless of the outcome. Quotes: “It’s funny sitting at the table and seeing everyone with their emotions and how bad they get.” “I tried futures and it did not work so well. It moved differently. The risk per tick was different. There was no chemistry for me.” “I’ve been doing Advanced Options since before I even learned charting. So I papertraded and traded those for a couple years.” “It’s a lot slower. It’s really just looking for support levels and resistance levels. It’s a lot less stressful for sure.” “I just pull up the positions, check the probability of profit column to make sure I don’t have to do anything. Takes me 30 minutes or less.” Links: https://claytrader.com/podcast/episode038/

When it comes to Mom's, our guest Rena ("RenaB" in the chat room), is no slouch. Not only did she introduce her son to the stock market and trading, but she has instilled in him extremely valuable principles that will last a lifetime... and that's just the surface of the interview! Rena has been in the market for several years now, and even with that, due to the massive variety of different strategies available, continues to try and narrow down the perfect fit for her own personal risk tolerance. There is some great conversations of psychology and emotions that take part in a "live coaching call". This is one of you don't' want to miss! Notes: Rena’s introduction to the market was with mutual funds back in 2009. She immediately started to work on her market education because both her and her husband take these matters very seriously. While she had a solid grasp of the basics, there were some holes in her strategy. Rena is a big believer in continuing to always learn more. Her risk management included a few different methods. The overall methodology mainly pertained to her emotions. She was willing to cut trades that didn’t feel right and take profits on ones that did. One day, her son came home from high school and after learning about stock trading, he expressed interest in learning along with his mother. Unfortunately, since he did not have much capital, this led them to trading penny stocks. After getting stuck in a few pump and dumps, they abandoned that idea pretty quickly. Rena used StockTwits to help find stocks that were moving for the day and that’s when she ran into Clay’s chart analysis videos. She liked the content and joined the community. Considering she’s a big believer in continuous education, she went through a few courses before joining Claytrader University. After learning about options, she has broken her trading into thirds. She buys/sell stocks, buys options and also sells options. Rena just came off a 5 day profit streak and was very disappointed in her one red day that followed. Her disappointment is not uncommon and it leads people to think their system is ‘broken’ when in reality, not all trades will be profitable. If you follow your system and strategy which you know works, the probabilities of profit will work out over time. Quotes: “I wasn’t going in completely blind but I know a lot more now than I did then.” “My son said he wanted to learn about stock trading so we started on that journey which did not go so well.” “I tried daytrading penny stocks. They pump it up in the morning for the first ten minutes then if you’re not out, run for the hills.” “I’m a believer in ‘you never know too much’ and ordered a few of your courses, then a few more courses.”

This trader is no stranger to the podcast, but he's a great trader so why not talk to him again and see where he currently stands in his trading journey? For you members of the community, Dave (or "h00ch" as he is known by in the chat room) is someone who has essentially been around since the start and continues to be a pillar of the community. Although he has been trading for more than a decade, he still continues to make progress and discover new areas of the market that assist him in adding more tools to his trading toolbelt. This isn't really an interview, more-so just a laid back conversation, so sit back and enjoy! Notes: Today we speak to long time community member h00ch. Since we have already interviewed him, we decide to throw some new questions at him. To summarize his background, he worked at a bank for many years and would take some investment advice from friends. He definitely struck some fools gold and then when his job eventually downsized, he was out of a job and decided to make day trading his job. He was able to capitalize during the dot com boom by putting most of his income into stocks with websites but he did take some significant losses when the bubble burst but he still came out net positive. H00ch has expanded his trading vehicles to include futures. After paper trading them for 4 months, he did open a margin account and mainly trades futures in the evenings after the regular market session is over. Even though he is a day trader primarily, he does swing trade as well. That’s the beauty of technical analysis… it applies to all timeframes. He looks for the same setups he would use on a shorter term chart as he would on a longer term chart. He has slowly ratcheted up his size over the years for his day trading but it is contingent on the market conditions. H00ch is smart enough to realize not to push it when the market is stuck in a tight range and to take advantage of trending markets instead. Quotes: “Any company that had any mention of a website would just take off during the dot com boom.” “At first I wasn’t interested in futures so I paper traded it. I did eventually open a margin account and trade 1 contract at a time.” “I’ll look at the longer term charts in the evenings. You can make all the plans in the world but a big gap can ruin that.” “With my swing trading, since I trade smaller size, I am able to use wider stops. You’re looking for the same patterns and setups.” “My day trading size has increased slightly. It depends on the market if it is trending or in a channel.” Links: The Stock Trading Reality Podcast: Episode 2 The Stock Trading Reality Podcast: Episode 75 The Stock Trading Reality Podcast: Episode 100

For you longer time listeners, you know nothing gets Chezz or myself fired up more than someone who "takes action" and offers no excuses... particularly when it comes to finding money to use to trade. Our guest from the chat room, Brandon (alias in room "bfaust25"), shares a journey filled with many ups and downs. The common theme however is due to Brandon's awesome attitude which has allowed him (and continues to allow him) to get up whenever he may get knocked down. Brandon is a shining example of just how powerful the combination of attitude + work ethic can be. My guess is after listening, you'll be ready to pick up a few part time jobs! Notes: Brandon’s introduction the market was his father-in-law who suggested he put in $200 a month from his paycheck into a brokerage account so he would have a decent size account in the future to use. He decided to focus on sector ETFs. From what he had read, he knew that market crashes were a great time to get invested in the market at a discount price. He was able to capitalize on that during 2008 and 2009. Brandon did a lot of research on selling options and decided to save up for another account to try that. The problem is, he still had no tool to forecast which direction the stocks/market would go. He grasped the concept of being directionally neutral but he knew there must be a way to figure out general direction. He looked into technical analysis and that’s when he found Clay and invested in his education. After he took a few courses, he rolled into Claytrader University where he discovered that there is quite a story in all charts and with that, there is many moving parts that need to be understood. After going through the courses, Brandon completely changed his tune from selling option premium to buying option premium and using charts. He unfortunately let his emotions and greed get involved after this which led to a downtrend in his account value. He struggled for a bit to grasp how to trade long options based on the underlying movement. These things all take time and take practice. This led to some frustration and disappointment so he took a step back. During this time, he learned how to properly prepare his family’s budget. Brandon has now picked up a few part time jobs to continuously fund his account and while he does that he is paper trading short options combining what he learned initially with what he has now learned technically. Quotes: “I read some Warren Buffett books. I was more in an investment mindset instead of trading.” “Now there is only 1 problem. I don’t know what way the stock price is going to go. Those guys are cool and all but there is a disconnect.” “I completely avoided risk management and didn’t use it. I pretty much blew that entire account over time.” “I took a huge step back. I took the Cash Flow Creation Guide and I needed to hear that. I needed the discipline.” Links: Course: The Cash Flow Creation Guide

We've decided to push the bounds of the podcast a bit and try something new... a VIDEO interview. I would not call it flawless, but the early feedback for those that attended it live was still positive. As weird as it may sounds, I've become good enough friends with a member from our community, Nate Wilson, to have invited to my house where we recorded this episode. He has been on two previous podcasts, but Chezz and I wanted to touch base with him and hear about how his trading has been unfolding. In fact, he literally traded my account the morning we recorded this, so we talked about that a bit in the interview. I'd highly recommend "watching" this one instead of "listening" to it, but do what you gotta do. Notes: In this live episode we have guest Nate Wilson with us and we compile some questions from the community to ask him. Many of our members trade options and wondered why Nate does not. He prefers the simplicity of day trading equities and considering no two traders trade the same, it is all about finding where your comfort level is. He has no need to branch out considering his success with his current strategy. We discuss the detriment of counting how many days you’ve made profits and how it should be avoided. Every day is a clean sheet and needs to be treated that way otherwise you will be making irrational decisions based on previous days performance. Nate discusses how he turned the corner and became more consistent. He reduced his position size and this helped him logically manage trades instead of just going all in at one shot. Smaller risk helps you stay focused on managing trades correctly since you are more comfortable. After watching Wolf of Wallstreet, Nate utilized his background in fundamental analysis to invest in marijuana stocks. This led him down the path of message boards and he started to buy into the hype. This is when he found Clay’s chart analysis videos. Nate is always looking to improve mainly with his entries. Picking quality entry points is not always the easiest and we are always trying to make sure we don’t force an entry at a non-ideal location. Quotes: “I looked at options for a little while and realized I didn’t like it. I prefer the fast in and out day trading of equities.” “If I revenge trade, I will literally get up from the computer and go talk with a coworker to get away from forcing trades.” “If you can’t manage your personal finances, don’t bother trying to trade. It’s a business.” “I totally got suckered in. I had no idea what was going on but they would say ‘BOOM! News is coming out!’ “ “I always want to constantly improve on picking a quality entry instead of forcing an entry. It’s a struggle.” Links: Video: 64 Trading Days - 2 Losing Days Blog: How I Ruined My Month

I learned a new phrase in this interview, greedy goblin. Yes, without question that sounds pretty rough, but as you hear our guest from the community, Caemeron, explain, it is actually a characteristic that all of us as traders should have. Having a passion and enjoying the challenge of seeing numbers add up, like a game, is an attribute that can be very beneficial. There is certainly some gray area in this regard, but with the right approach and mental mindset, the waters can be navigated in a profitable way. Notes: Cameron’s introduction to the market was from his teenage years where he would read about the big moves that biotech companies were making. He knew that if he could acquire the knowledge to trade those, he could significantly increase his earnings. At 18 years old, he moved out of his parents house and moved into a pretty run down trailer in the woods. Cameron worked at a gas station to help pay for the rest of nursing school. When he finished school, he was able to get a job at a hospital and stayed in the low cost trailer to save money. After a discussion with his father, he realized that his idea of putting all his money in dividend paying stocks would not make the gains he desired. While working in the nursing field, he noticed very quickly he did not enjoy it so he decided to leverage his old contacts to find a different profession. When he did open his trading account, he put his money into household names that he was familiar with. His thesis was invest 80% and swing trade the other 20%. He had no knowledge of chart usage at this time. After losing quite a bit of money trying to trade penny stocks, Cameron invested in his education and took RvR Trading because he recognized that if he could control the downside, the upside would take care of the rest. Cameron is now paper trading with his new found knowledge and recognizes that practice makes perfect. Quotes: “My friends call me a goblin because I love making money. I think it’s really fun and very challenging.” “I’d love to have enough money in the dividend paying stocks where it’s like I’m getting paid to hold these stocks.” “I opened up an account and got 3 free trades. My dad told me to stick to things I know. I bought AT&T and MSFT since I used them.” “I’m collecting aluminum cans, working at the gas station, mowing lawns, I’m doing everything I can to get money.” “He told me, if you can get through those guys, you can get through the FDA. That was a horrible investment thesis.” Links: Course: Risk vs Reward Trading Video: How and Where I Learned To Trade

While some may call the over-arching theme of this interview "common sense", the problem with that is common sense isn't very common anymore. Our guest from the community, Jody, approached the market in a very strategic, yet simple way. Again, some may say "duh!", but it is also one of those things that in many cases hides in plain sight. Bottom line, when you are unsure of something, go find something that you feel safe in and don't push the envelope. Jody has done, and continues to illustrate a great job of doing exactly that. Notes: Jody’s introduction to the market was similar to many, a 401k that a job provided matching for. This was back in 1999. It wasn’t until 2008 that he took a more active approach. After speaking with some fellow co workers, he had the idea to take his entire portfolio and reinvest it into the company he worked at since the shares were down 75% due to the market crash. After doubling his money in about a month, he decided to take profits and put it back into other funds. He got a love letter from the brokerage saying that he is not suppose to be actively trading these accounts since they are managed. As time goes on, Jody went back to school and changed jobs a few times. In the transition between companies, some of his funds went into an eTrade account. He makes an important decision in the sense that he recognized he didn’t know what he was doing so rather than gamble with that account he moved it back into his new companies managed funds. He finds Clay online and checks out all the free training material available. At the same time he notices a co worker who is trading at work with Robinhood. Jody now was interested in lower priced penny stocks so that he could theoretically turn a larger profit based on a larger move these stocks sometimes make. He still had an uneasy feeling and went back into cash. After watching the video regarding penny stocks versus options, Jody decided to learn how to trade options. He went through a few courses and is now working on honing his trading methodology. Quotes: “My 401k wasn’t really growing much. Then 2008 hit. Our company went from 30 dollars a share to as low as 7 or 8.” “I didn’t know what I was doing. It was kind of scary to have money in a brokerage so I rolled everything back into my 401k.” “In programming, you can see what’s breaking during debugging. In trading, when you lose money, you have no idea. You’re just losing.” “I made 300 dollars from CIE. I pulled that money and bought RvR Trading. My account is trending up now.” Links: Video: Work Smarter Not Harder Video: Trade Penny Stocks On Steroids

There is a common theme among our community that follows the mind-set that "there are no excuses". I'm happy to report that we, once again, have another data point that proves this mindset is not unrealistic or impossible to put into action in real life. Our guest, Mike, was on a very... very... nice path, but then some "life evens" happened that set him back a bit. Speaking for myself, I was inspired by Mike's story and how he never threw a pity party for himself, but adapted the attitude of "get-er-done" and started chipping away. There is little question in my mind on whether or not you'll find any motivation in this interview... I'm confident you will! Notes: Mike’s introduction to the market was in highschool when he would follow the quotes in the newspaper. During college, Mike always had a huge interest in historical figures especially in the realm of finance. While he maintained an interest in the market, he actually passed up a job to work for a very large broker. Knowing one of the higher ups there, he saw how awful he was to his employees and decided that wasn’t an environment he wanted to be subjected to. Once Mike had some capital to put into the market, he went the way of value investing. These were all very long, multi month-year holds. He did quite well investing this way and admits he may have stumbled into some fool's gold but an unfortunate divorce wiped away his worth and actually left him in quite a bit of debt. After working hard for many years, Mike has cleared all the debt and problems in his life and has now been working toward rebuilding his trading account. He has been focusing on options so he can trade larger names with much less capital outlay (utilizing technical analysis). He will continue to focus on names and industries that he knows well blending in his older investment style criteria. Quotes: “If Vanderbilt had enemies he wanted to do away with, he would manipulate his stocks to drive his competition bankrupt.” “I got interested in value investing. I’m the kind of person that does a ton of research on anything I’m interested in.” “I only invested in businesses that I understand. I really didn’t understand technology so I didn’t own any of them.” “Investing is like watching paint dry. I thought trading would be a good way to accumulate funds for investing.” “I’ll give you two words to sum up successful trading. Impulse control.”

For you long time listeners of the show, Shawn is well known "as that lady who took $250 and turned it into over $10,000". If you are a member of the private chat room community, then I'm sure you've seen Shawn or perhaps even interacted with her. Well, she's back for another interview so that Chezz and I can check in with her and see how things have been going. What I loved is that despite her continued success trading, she has a few "other things" going on in her grand plan that make trading a bit more mentally easy. On top of that, she is a master at staying in tune with her emotions which is vital for us as traders. All sorts of good stuff and we're excited to bring it to you! Notes: In this week's episode, we revisit with Shawn who we interviewed this previous year. After a brief recap of her journey up to this point, we dive into her more recent trading endeavors. She stresses the importance of practice and how it was instrumental in helping her turn her trading around. After going through how she grew her watchlist from 2 tickers to a handful, Shawn tells us the process she used to learn how to spot what tickers work better for her with options or straight up stock. When she started trading, Shawn focused on small monetary goals that would lead her to earn more than the bank could offer. Since then, she has learned how to let her runners run to their logical conclusion and extract more profit out of trades that go in her favor. Shawn believes it is crucial to be in tune with yourself if you are trading the market. She recommends writing down the emotions you are feeling whether good or bad and taking a hard look at how to resolve them or make sure they don’t interfere with trading. Members of the community chime in some questions for Shawn. This includes what time frames she uses, and some various ways she chooses her trades which includes the importance of liquidity. Quotes: “You get a million dollars on paper money and I thought ‘alright, I’m going to trade.’ I thought this would be simple.” “SPY and AAPL were the two that I got the feel for. I didn’t really pay attention to other names.” “If you’re not on your game, don’t press that buy button. That’s bad practice.” “It’s 3 things to me. Being in tune with yourself, risk versus rewards and stops. If you’re wrong, get out.” “You gave me the tools, I put the work in. I was very excited to personally thank you.” Links: https://claytrader.com/podcast/episode057/ https://claytrader.com/podcast/episode058/

One of the coolest things about hosting the podcast is hearing the career fields people are in. I'm not sure we've ever had one as interesting as our guest, Justin, (alias in chat room "JustinT") who works alongside traders where he tells them what to buy/sell. Because of this interesting career field, Justin has quite the unique path in regards to learning the markets and how to trade them. It is intriguing to see where he has been, where he is now, and where he is headed. Justin offers no excuses and is in full blown "ax-to-the-grindstone" mode. Notes: When Justin was in college, it was the middle of the dot.com boom and he perceived this as an opportunity. Considering he was into technology, he was there for the beginning of the online brokerage industry. After coming into some money, Justin opened his first brokerage account. Initially, Justin lost some money right from the get go and decided to put his money into IRA’s and let them grow for 15 years. After going through a few different jobs during the 08-09 recession, Justin got a job in the natural gas industry as a scheduler and works with traders daily. After scouring StockTwits and trying to find good traders to learn from, Justin ultimately went on to find trading specific podcasts which led him here. After 20 episodes, he decided that he would investigate Claytrader further to see if it would be worth it for him to invest in his education. Justin has always been very open with his wife about his endeavors in trading and they jointly agreed that it would be beneficial for him to invest in his education since he is serious about using trading as a form of supplemental income. Not only does he have a paper trading plan and a time frame, he has a plan on how he will proceed further with live trading. He treats this as a business and that is how you get ahead. Quotes: “There were IPOs all the time and I heard about how they would skyrocket after they hit the market.” “I’m the logistics guy and the traders are the traders but I get to tell them how much they can sell everyday.” “I knew it was possible but I was missing something. I tried to piggyback on some traders from StockTwits.” “I’ll start out small and trade equities for a while. Just to utilize the technical analysis I’ve been taught.” “Be patient. Relax. The market will always be there. I’m just going to keep practicing because it pays off.”

This episode holds a special place in my heart as our guest, Louis, from the chatroom was quite the customer service challenge. He was about as hard headed as it got when it came to him actually deciding to come aboard, but I'm glad he did. He's one of those traders who even after making a boatload of money, was still aware enough to know that he need to tap the brakes a bit. He started off guns-a-blazin' and rolling in the dough, but where did that lead him? Well come along for an enjoyable discussion about the bumpy road we call trading. Notes: Louis’s introduction to the market started as a child. He would farm crawfish and he wanted to know why the prices would change all the time. He was witnessing supply and demand at it’s truest form. While Louis was stationed in Iraq, he saw someone on base looking at charts and struck up a conversation with him. Since Louis was always outside of the base, he was unable to really trade similar to this guy but he decided that once he got back stateside he would start to learn how to trade in the market. He joined a buy and sell alert service and his first and only trade was to go long gold (as a hedge against the ‘end of the world’). He put his whole account into this trade and then left it for 6 months. This resulted in him just about doubling his 100k account. Louis heeded the advice of a co worker who warned him that he could just as easily lose all that money he recently made. This led him to start investigating how to further his education. After utilizing as much free education as he could find, he realized that it wasn’t the whole picture so he eventually joined Claytrader University. Recognizing that he shouldn’t risk all the profits he came into, he stopped trading and spent time going through the training. He was also paper trading while going through the courses. This has led Louis to become a completely methodical trader who has a process for spotting entries, managing risk and determining logical places to take profits. Quotes: “The price always changed. That’s what really got me interested in the market. I wanted to know why they changed.” “Well I just forgot about it. I treated it like the Fidelity account. Six months later that trade made me 90,000 dollars.” “I’m cheap by nature so I didn’t want to splurge on the courses. I got to the point where the free stuff stopped working.” “I only put 4 grand in there and wanted to see what I could do with a small account. I saved that money from shoeing horses.” “I experienced a big gap down and my stop loss got hit. My co workers are still hanging on to it and hoping it recovers.”

Every single Monday for 100 weeks straight, we've put out a brand new episode... I would be a total liar if I said I thought that would happen when Chezz and I first began our podcast journey. Sure, I planned it would have success, but literally 100 weeks straight of new episodes? No way! With that being said, thank you to YOU, our listeners, for providing enough interest to keep the show going. In this special episode we bring back a couple of guests who are well known among the community and absolutely killing it with their trading. We all just sit back, shoot the breeze, and let the conversation take us down rabbit holes and whatever topics we want. Thanks again to all you listeners and we look forward to another 100 episodes! Notes: In this special episode we have two staple community members on with us, Shawn and h00ch. This podcast will be much more off the cuff than our usual structure since we have interviews with both the guests already. A common problem we encounter here is that people want to quickly double their money. During the discussion, it becomes very clear that there is no ‘one size fits all’ and while some people fall into quick riches, that fools gold is generally quickly lost. Learning to trade is a journey and becoming consistent is part of that journey. We have a good discussion regarding penny stocks versus options. Both Shawn and h00ch have transitioned from penny stocks to options for the various benefits that are discussed. It makes a strong case on why you may want to consider trading options instead of penny stocks. Going back down memory lane, we each list our favorite moments from the past 99 episodes. We get quite a diverse set of answers from everyone and we look forward to 100 more podcasts! Quotes: “This is not a ‘get rich quick scheme.’ You have to be smart. There are bigger dogs out there not afraid to take your money.” “You press the buy and sell button. Nobody else is pushing that button for you. You are completely responsible for what happens.” “If you want that kind of fun you’re better off going to Niagara Falls to hit the casino.” “They think penny stocks are their only hope for a small account. Don’t think it’s either penny stocks or bigger stocks.” “I originally got a part time job to take the pressure off myself so that my needs would be met in order for me to not force a trade.”

If you're newer to the markets and your plan of action is "learning as I go", then all I ask is that you please listen to our guest, Mike ('HeyFordy' alias in chat room), who took the same path. What I like about Mike is that he's from the Northeast, so he's got that accent and has no problem being blunt and telling you like it is. He doesn't hold back any punches and speaks his mind, for better or worse. Mike is an amateur boxer, so his views on mindset and psychology are fascinating. Whether you are new or an experienced trader, I'm willing to bet there will be at least something that stands out to you and assists you in your personal trading. Notes: Mike’s introduction to the market was his buddy who was trading with his free Robinhood account. He funded his account and just dove straight into it. Mike was just puppet trading his friend who gave him some ‘picks.’ Unfortunately, Mike ended up becoming a bag holder and maintained his losing position for a few months. He went on a search for a good group of traders that he could follow. Mike grew his small account by the thousands with sheer blind luck but eventually that luck ran out. After getting stuck in a trade that he was unable to sell, he started to wise up and realize that he needed to learn how to spot his own entries and determine his exits. Mike went on to search for as much free information as he could find but struggled with it since it had absolutely no structure. After this he went on to try some subscription services that offered hot picks. He quickly found out that this didn’t work either. He joined the Claytrader community shortly after this and eventually went on to take the first course, Robotic Trading. Mike said that this was a big eye opener and he know wanted to learn even more. He now started to understand WHY he should be buying and WHY he should be selling. This led him to take a few other courses since he recognized that education for the market is a continuous process. Mike is now truly enjoying the freedom that comes with education in the form of not needing anyone to give him ‘hot picks’ or steer him into various tickers. He has developed his own strategy, applies solid risk management and executes trades that he has personally planned. This is the true path to long term consistent success. Quotes: “I downloaded it, funded the account and dove in. I didn’t have any education or anything. I wanted to do the ‘learn as you go.’ “ "I grew a small account by the thousands very quickly just off of luck. I thought I had everything figured out.” “His DVD was like panhandling for gold. You had to go through a ton of dirt just to get a small speck of gold. It was ridiculous.” “Robotic Trading was eye opening. A lot of the uncertainty went out the window and I started seeing things in a logical way.” “I like swing trading a lot better. I like to manage them over a bit of an extended time.”

The financial services industry. One that has more than likely touched all of us in one way or another. For many people, the "touch" comes from the fact they sit down with a "financial adviser" for advise them on how to grow their money. But is their advice really in your best interest? We talk with chat room member, Danny, who has experience in this industry... and yeah, I'll just say he holds nothing back from how it all 'actually' works. We definitely talk trading too (and his journey is just as interesting as what he shares about financial advisers), but I think this interview will be a big warning to many. Notes: Danny is actually a financial planner by trade so it is safe to assume he has had an interest in the market for quite a long time. After working his way through the ranks of the bank, he eventually came to the realization that he could achieve better returns than many of these mutual funds or other products from the bank that all came with attached fees. Danny had befriended someone while traveling who apparently followed someone elses stock picks and was using his profits to travel the world. Instead of following in his friend's footsteps, he decided he wanted to learn how to trade himself so that he could be fully self reliant. Danny also knew that he would need to invest in his education if he wanted to really learn. After going through training elsewhere, Danny did not like how the teachers pushed one strategy on the students. He knew that there had to be multiple ways to view and trade the market. However, Danny now knew just enough of the basics to be dangerous so he jumped in headfirst with his 14k account. After some fast losses, that is when he found Claytrader. Danny learned how to read charts and manage risk and then took his training into the Forex market. He liked that he could trade at different hours of the day and that the market is 24 hours, so it has no closing and opening gaps. He is now paper trading and solidifying his strategy and risk management. He plans on practicing for a full year before re-entering the market with his hard earned money. Quotes: “When you work in the bank, you understand how much advisors do not know anything about the market.” “I didn’t want to be a follower. I’m the kind of guy that when I do something, I want to know everything about it.” “I got the basics. I know how to trade. I said, ‘lets go!’ I didn’t know anything about risk vs. reward.” “I’m into forex because it’s a 24 hour market. I can get home from work and still trade. I know there will be no gaps.”

Talk about a crazy start to your journey. You get a mentor and then all of a sudden he's in JAIL! Uh... yikes! Talk about a great way to become jaded towards the trading markets - and understandably so! This is exactly what happened to our fellow member from the community, Chris, as he began his journey over 18 years ago. With such an "odd" event kicking off his journey, how did he deal with it and what path did he end up on? He's been through a lot, and with that comes lots of experiencetial wisdom which he shares with us. There is something, no matter how long you've been trading, that everyone can take away from Chris' journey. Notes: Chris had a buddy who was trading stock options and this piqued his interest. This was back in 1999 and interestingly enough, the person he was studying under ended up going to prison for his shady business practices and tax avoidance. Chris still applied what was taught and was now trading directional options. Chris would focus on tech companies that he knew of. Unfortunately, he dwindled his account down to zero and had to figure out where to go from here. He recognized that options have the power to change your life with powerful gains but at the same time, the magnitude of profits can also translate into losses. After hearing about penny stocks, Chris got into the pot stock boom. To his own misfortune, he entered right at the end of the boom and got caught in the overall collapse of the sector. After running into liquidity issues as the market dried up, he decided to get back into stocks and stock options. Chris saw some of Clay’s free material and decided to join the community. With his current job though, he was unable to login during the day as the site was blocked. After about 6 months, he noticed that he really enjoyed Clay’s teaching style and decided to join Claytrader University. After going through the foundational material, Chris now focuses on a basket of stocks that have high option liquidity. He equates his trading to becoming a sniper and spotting good opportunities to enter versus his old methodology where he would just jump into a trade haphazardly. Quotes: “I put a couple grand in and had some success and thought I was pretty smart. We all know it was more luck than anything.” “I felt options were too complicated for me. I jumped into penny stocks during the marijuana stock boom.” “Penny stocks are great but you have to be in there when they are hot and heavy. You have to get in and out quickly.” “People don’t want to put the time into education and research. They just want people to pick trades for them.” “You can take all the training that’s available but you have to be able to implement it and treat it like a business, not a casino.”

Yup. It has happened yet again. The bright and shiny world of penny stocks and their apparent ability to grow small accounts punched another trader in the face. While the punch to the face knocked down our guest, AlphaThor (his alias in the chat room), it didn't knock him out. Being the mentally tough guy he is, he has gotten up from the mat and found a new way. In the markets, there is no shame in getting punched in the face, the key things that matter come from HOW you react to the punch. Notes: Alpha’s introduction to the market was a Tony Robbins book that focused on the sooner you invest, the easier it will be to retire and grow your wealth. He decided to open up an IRA account to start preparing for his retirement and decided to invest in some IPO stock that Carl Icahn was involved in. After seeing people talking about multiple 100% gainers in the penny stock world, Alpha decided to abandon his original plan and went on to trade penny stocks. He joined a few chat rooms and was unfortunately a victim of the all too common pump and dump occurrences. When his chat room subscription ran out, Alpha found lots of Clay’s free videos on Youtube and found a lot of great information from it. This led him to join the community especially considering it was a fraction of the cost compared to the other chat rooms he frequented in the past. Alpha noticed that many people in the community were trading options with a good amount of success. He decided to invest in his education and joined Claytrader University so that he could learn about technical analysis, risk management, and ultimately options. Options appealed to him and the ability to use a smaller amount of capital while also having more opportunities than what was available in the penny stock market. As he continues practicing and finding what works best for him, we’re sure that he will start to find his niche in the market and continue to grow his accounts. We’re very passionate about financial independence and have no doubt that he will be able to achieve that with his continued hard work. Quotes: “I had no knowledge about the stock market. I was just happy with that profit and decided to exit there.” “I’d figure out sooner than later that I bought the top and ended up selling into consolidation.” “I just felt I was learning more from your free content on Youtube than anywhere else so I joined the Inner Circle.” “I came to the realization that options can move just as fast as penny stocks.” “That’s why they call it a journey. I didn’t expect to be a consistent trader in less than a year.” Links: Blog: Best Online Stock Broker Video: Avoid The Pattern Day Trader Rule

For someone like myself who got started in trading after the introduction of the internet and computers, it's hard to imagine what it "used to be like" before technology really came to age. We get a great taste of that in our interview with Mike (chat room alias "TraderMike"). His journey first began back in the 1990's and over 20 years later, he's still here and improving. Mike trades full time; however, he has one of the more creative ways in which he accomplished this goal. Mike is a great asset to the community and someone who is very active in the chat room, so now you get to hear this story! Notes: Trader Mike started getting interested in the market in the ‘90s and recognized very early that he wanted to be in full control of his investments. He didn’t want to pay someone else a fee to pick stocks or funds for him. Mike utilized fundamental analysis to start his trading journey and focused primarily on what other analysts were saying. When he would find that 11/15 would agree that something was a buy, he would enter a trade. However, his exit criteria was pretty wishy washy and was much closer to throwing darts or exiting based on his feelings. After two decades, Mike delved down the path of trying to expand his education and was using more internet based newsletters for his trading. His timeframe for trades at this point was 3-6 months. While his portfolio was still trending up, he definitely got into some hot water with large losers and felt paralyzed which led him to hold. He decided that he wanted a career change and decided to dive into trading full time. Mike realized relatively quickly that now that he was trading for income, his longer term trades would not pay the bills or result in daily/weekly income. This is when he decided to investigate further into technical analysis and ultimately Claytrader University. Mike made an agreement with his wife to give him 1 year to see if his trading would work out. If not, he would go back to work. He had capital set aside for this journey so that absolutely nothing would change in their daily living. By no means did he use his family's nest egg to attempt this new career. Quotes: “I learned young that I needed to take care of my money and self invest it so I would have something to retire on.” “I was subscribing to what other people were recommending. I was using Google more to understand how stocks move.” “In the past I didn’t care if something went down for weeks but trading for income I realized I didn’t have the tools to make decisions.” “I wanted to understand and learn this so I could manage my own trade plans for the future and forever.” “I’ll watch the 2, 5, 15, and 1 hour charts to develop my trade plans.” “I like to watch the first 15 minutes evolve and then establish my trade plans based on my comfort level of what I see.” Links: Course: The Trading Freedom Pathway

Being wealthy is something we all dream of. I say this with complete confidence because I define "wealthy" a much different way than many may. To be honest though, even if you want to be wealthy in the sense of driving a Rolls Royce, there are some initial steps that you must take in order to make that dream a reality. Whether you acknowledge it or not, there is one fact that we ALL have in common... we're all a CEO. While that may not make much sense now, I promise you it will after you're done listening to this podcast. Notes: In today’s podcast, Clay and Chezz discuss personal finances and the power of a budget. The goal of this entire podcast is to help reduce your stress with a set of good habits and routines. The foundation for all wealth building, no matter what avenue you take (stock market, business ownership, etc) is going to be your budget. You are the king of your castle in the sense of you are in charge of your spending decisions. Your budget will be able to tell you what is financially responsible and what is not while helping you target your longer term goals. Another way to create peace of mind is growing a ‘rainy day fund.’ Setbacks happen in life (your car breaks, furnace stops working, unexpected medical expenses) but if you have prepared in advance for when Murphy strikes, this can alleviate your stress greatly because you were ready for whatever the world threw at you. Clay brings up a great point about choice of college and career choices. Please do the math and budget to help determine what your potential salary will be versus your college loans that you will be paying for years. More often than not, you can find a comparable school that will offer the same degree for a lower cost. The power of a budget can help you achieve your long term goals and it really is as simple as addition and subtraction. Take some steps and a hard look at your income stream versus your spending and start to be the CEO of your financial future. Quotes: “To me, wealth is the ability to sleep. If you can lay in bed at night and have no worries, that’s a beautiful thing.” “You become the CEO of your finances. We are all CEOs of our own personal life.” “Get organized with your personal finances and odds are you will have money leftover. That leftover money can be put into investments.” “It’s a list of priorities specifically. Now I always bring up is ‘is this money better on a purchase or better for the land fund?’ “ “Once you get a job, you see this sparkly new paycheck and you think ‘wow, I’ve waited so long to have money’ and I threw it around.” “How does it know it’s not in the cards? Because he has a budget. Because he’s organized. Because he’s CEO of his life.” Links: Course: Cash Flow Creation Guide Mint: https://www.mint.com/ You Need A Budget: https://www.youneedabudget.com/

We've done many interviews at this point in our podcasting journey, but thinking off the top of my head, I can only think of one other person who is taking the approach Ward (our guest and chat room member) is using. According to Ward's logic, which makes perfect sense to me, he is first focusing on developing as a person, to which he believes will then allow him to develop better as a trader. The awesome part is, Ward has a few years under his belt, so it just goes to show that it is never too late to work on oneself for the better. This was a refreshing interview and inspired me for sure. Notes: In 1998, Ward read a few books about trading but wasn’t in a financial position to put money in the market. However, the fire was lit. After getting married, his wife had her money in a mutual fund that wasn’t growing fast enough in his opinion and thought he could do a better job. He didn’t even fully realize that the market just experienced a huge downturn. Ward started to trade in stocks that had a steady uptrend. After reading 40 books about how to trade, he would still look back at his trading journal and question why exactly he entered particular stocks. He recognized he did not have a solid methodology. Unfortunately, Ward went through a cycle of trying a strategy, getting discouraged and then taking a break. This lasted for 4 years until he found Clay’s youtube videos. He thought that looking over someone's shoulder and watching them execute trades would be more beneficial than reading the theory of trading from books. Ward was actually in retirement when he discovered Clay’s videos. After seeing how well the course was structured, he went back to work for 2 months to pay for Claytrader University and to keep from having to utilize his savings for the package. At the same time, Ward discovered the power of self development and the power of a plan/goal. This ties into such a larger topic such that life isn’t all about trading. Trading is a part of Ward’s life but it is not the only thing that matters to him. Developing solid plans and planning the path to success played a crucial role in turning Ward’s trading around along with many other parts of his life. Quotes: “When I thought about trading this money, it didn’t even occur to me that the money hadn’t grown because of the market correction.” “I wasn’t losing any ground but wasn’t making any either. Even after all those books I read, none of them taught me how to trade.” “I’ve got money and read a bunch of books and think I can compete against professionals. I realized there was an education problem there.”

If there is one personality trait that is a "must have" for long term trading success, I think I'd choose: self awareness. If you are not being honest with yourself and admitting what needs to be admitted, you will spin your wheels in the mud and never improve. Chat room member, Eric, is a shining example of being self aware and using that personality trait to progress his path forward. I really enjoyed our talk with Eric as he was very passionate and energized about the markets; however, was also extremely aware of his situation too. Notes: Eric’s introduction to the market consisted of watching his father and some coworkers always checking their trading portfolios. He decided to open his own brokerage account in college with his student loans and that was how he first entered the market. He used basic fundamentals and general knowledge of what he thought would be a good stock to own to choose where he put his money. He decided to subscribe to a weekly newsletter that offered trade picks and after trading these for a while (with not much success) Eric decided to continue his search to find a system that worked for him. He struggled to find an education suite that worked for him. After college, he saved up another $3,000 to swing trade but he couldn’t put his finger on proper entry and exit criteria. After a long YouTube search for helpful info, Eric found ClayTrader and perceived him as an honest person who will shoot straight and tell it like it is. This is when he started to invest in himself via education. The beautiful thing that Eric realized is that once you have learned how to read charts and manage your risk, you are FREE to find trades on your own. You no longer need to seek a ‘guru’ for ‘hot picks.’ As Eric increased his education in terms of risk and options, Eric has found lots of success trading advanced option spreads. He can control his probability of profit and his max loss, all of which are crucial for long term success. A few members have also inspired him to stay mechanical in all his trades instead of style jumping. By no means is he saying that this is the be-all end-all and he always wins but when he is wrong, he is wrong small and it doesn’t take much to recover. Quotes: “When I was 15, my dad traded futures and used to tell me that trading in the stock market was dangerous.” “I noticed every time, what basis did I have for deciding when to buy and when to sell? There was just nothing.” “I didn’t want to go down the path of watching 1000s of videos and in the end I’m not a better trader. It was a waste of time.” “My whole life has been cycles of getting into and out of the market.” “Once you start learning you can come up with your own plays.” Links: Book: Essentialism: The Disciplined Pursuit of Less

I really enjoyed this interview because it was a change of pace (in a good way). We've had many guests who rant and rave about the power of options, which is true for sure, however our guest (minor spoiler) was not a huge fan and chose another trading opportunity: Forex (the trading of currencies). Chezz and I sit down with community member Jaime and hear all about his journey with options and why he ultimately chose to take another path. What caught his eye about Forex? How is he doing with it? We cover that and much more in this refreshing interview. Notes: Jaime’s introduction the market was a co worker who traded penny stocks. After watching him trade for some time, Jaime opened up a brokerage account to ‘dabble’ himself. His first few trades turned into investments in the hold and hope fashion. Jaime also only focused on playing the long side and avoided the short side (where he thinks the price would go down for profit). After sitting in a few tickers for a while with very little movement, Jaime wised up and decided to take a few years off before returning to the market with the goal of avoiding penny stocks. He wanted to focus on some larger names that actually had good liquidity. While Jaime began focusing on high volume options he unfortunately did not have a true risk management strategy yet. After learning about the nuances of options including the greeks, he started to realize all the things he was fighting when he first started trading them. This led him to the Forex course offered here which opened his eyes to the opportunities available for him (especially since there is no pattern day trader rules). Jaime practiced for a month before going live and has been doing very well since going live to the tune of tripling his account value. The glaring differences between his old trading and how he trades now is his outlook on risk management. Now, instead of focusing on only recouping his losses, which makes him greedy and stay in his winning trades too long, he willingly takes small losers because he knows that one winner will pay for many losers. This is the recipe for long term success and steady account growth. Quotes: “There was no strategy at all. Just going off of penny stock fundamentals which we all know is laughable.” “I was able to get out of most of my investments. For the most part, I wised up pretty quickly and decided to be done with it.” “There really was no risk mitigation or stop loss. Put some money in and it’s either going to go up or not.” “I’m at 50:1 leverage. I paper traded for a month and now trading live. I’ve done remarkably well. The chart just agrees with me.”

When it comes to just flat out being lucky, in the history of the podcast, I think we have a new winner! To give credit where credit is due, our community member, Josh, worked hard and saved up $1,000. So it is not a situation where he just lucked out in regards to having money, but yeah... I don't want to run anything, just listen - haha. After the initial luckiness, Josh quickly discovered that there is much more to trading than what he had originally thought. While he joins a long list of many who have thought this same way, the way Josh conducted himself after this realization is something we can all learn from, myself included. Notes: Josh’s introduction to the market was a virtual game and after he learned the mechanics of it was able to pad his virtual account. This led him to want to do it with actual money. After saving up $1,000, he asked his dad for some tickers on his watch list but his dad is a notoriously bad typist and ended up giving him a recommendation on something he didn’t intend. Lucky for Josh, after holding for 8 months that ticker was bought out for triple what he paid. Josh and his friend had been following the marijuana legislation in 2013 and decided to spread their money into a few different names. They had actually caught the start of the ‘pot stock boom’ and instead of holding and hoping, Josh ended up taking profits to be safe and not get caught in the dump. After finding little success in the penny stock market, he shifted his money back into larger names that he didn’t mind holding longer term. He was busy with school and life so he prefered to not sweat the small moves that stocks tend to make intraday. After watching some of Clay’s videos he decided to change brokerages and find a good platform for day trading. While Josh didn’t have a risk management plan on paper, he was extremely protective of his money and refused to let any future trades go against him by a large margin. He falls into a small percent of people who DO NOT go big and ultimately go home. Josh is now keeping himself accountable by paper trading with an Excel spreadsheet. He also realizes that less is more when it comes to indicators. Price action and volume are king. Quotes: “I figured out I was good at reading the programming of the game, make a bunch of money and get really ahead.” “We saw that legislation was coming out for marijuana. My friend and I did some research and spread our money into some penny stocks.” “I started looking into .0001 stocks. I’ve been trying to sell some of these since 2014 but liquidity trap for sure.” “I thought, oooh all IPO’s go up right? I’m going to get in and get out but I couldn’t get out quick enough.” “I stopped putting money on the line to figure out why I was unable to predict the market right.” “I used to have bollinger bands and histograms but didn’t know what any of them meant. I thought I was cool like the Youtube videos.” Links: Video: Sales Pitch or Belief

The concept is nothing new. For you longer time listeners, you've heard it time and time again... not to mention, you've probably done it yourself: make mistakes. Our guest, Thomas (alias in the chat room is "thwidra"), did exactly that, but he provides an excellent example of how traders need to blame themselves, not others, and then improve. He actually made some money at the start to, but quickly realized and admitted to himself it was pure luck and he had no idea what he was doing. Something that many new traders fail to realize (myself included when I was new!). He has had to do some reinventing of himself, but Thomas is progressing by leaps and bounds. Notes: Thomas began his trading in 2016 with mutual funds. After doing some research into the funds he had allocated, he saw that it was not increasing at an acceptable rate. After being unable to reach his advisor, he pulled out his funds and decided to take control of his money in the market. He found a site similar to iHub (message board for stocks) in Germany and after reading through the board a few times he decided to put some money into a few tickers. He admits that he got into a lucky trade which was a 100% gain but the important part is he realized this was pure luck. After some new found confidence based on his previous large winner, he started to purchase stocks while at work and then letting them sit. After reopening his broker account later in the day he saw that he was completely in the red and gave back half of his gains. Thomas did a great thing throughout all of this. He took complete responsibility and did not try to blame any external factors. Thomas learned not to put his whole account into one position and did a much better job of diversifying across multiple tickers. At this time he also found some of Clay’s stock chart analysis videos and he saw the value in technical analysis and invested in his education to be a more knowledgeable trader. After going through some courses, Thomas began to paper trade but more so in hindsight. He realized the error of this and began to paper trade realistically. As he continues through the courses he continues to paper trade and hone his craft. Finding what works best BEFORE trading real money is a real key takeaway. Quotes: “I was not looking to trade penny stocks but what I noticed is that those people were looking at stocks with a low price.” “At that time, SDRL reached its top and was falling down. It started climbing again but I thought it would break down.” “I tried to search for some sort of holy grail. I tried to find some hot stock picks. This led me back to break-even.” “It wasn’t good paper trading. I didn’t have a real plan in place. At this point I was struggling a bit with my emotions.” “At the moment I’m not that confident. I won’t go live until I have more confidence and paper trading experience.”

Confidence is a great thing to have in the world of trading the markets, there is no doubt about it. With that being said, if you allow the confidence to transition into stubbornness, your trading capital is going to get smaller in size. Our guest, Tony ("TonyAcaiBowls" in the chat room), walks us through his journey where this whole idea played a pivotal role in creating some headaches. The one characteristic I need to give Tony credit for is his wild ambition, which is certainly a good thing; however, once again, too much of a good thing can be bad, as you'll see... Notes: Tony’s introduction to the market started with his family having CNBC on the television while he was a child at home. Tony’s father would watch it in an effort to keep an eye on the stocks he personally held. As he grew up and got to college there were not many majors that interested him but his interest in trading from childhood presented an opportunity so one of his majors included finance. After reading an article about a trader who turned a small sum into a few million, Tony decided to save up some money during college and get involved in trading. Realizing that he shouldn’t jump in blindly, he was smart enough to invest his money in what he thought was a good training program but realized he needed to learn more. Tony decided to try a paid chat room subscription and puppet traded based off of alerts made there. While he increased his discipline, there were still a few trades he got stubborn with and this led to a large decline in his account from the losses. By no means is having confidence in a position a bad thing but as traders, risk management HAS to be on the forefront. After going down the rabbit hole of Stocktwits and other message boards, he started trading off of hype again. He came across Clay’s stock chart videos and was intrigued at his unbiased analysis and started to realize that the charts tell a story which can help determine trading plans. He joined the community and was pleased with the lack of ‘hype’ and strict focus on technicals. This led him to join Claytrader University and now he is currently going through the courses. Quotes: “I came across this article about this guy who took $10,000 and turned it into 2 million. I thought ‘wow, I want to do that.’ “ “I thought I could catch a bounce for 40c and make my money back. I was able to take a little profit but it wasn’t a good trade.” “I was holding and hoping. One trade I thought had to go down and that blew up a big portion of my portfolio.” “You were analyzing these charts and were very unbiased. It helped me understand how the charts tell the story.”

Yes, it is possible to make progress as a trader without spending a dime on education; however, you better have a great source of income via a normal J-O-B. This concept is exactly what we see unfold with our guest Mark Raison (same name in the chat room). He decided to venture the sea of free information himself, and it proved to be a very very costly and frustrating experience. In fact, listening back on the interview, I'd say he still has a ways to go in regards to a few areas, but with his good paying job in place, he can just keep inching along. Let this episode serve as a warning of just how tricky and difficult the "I will use free information" pathway of learning to trade can be. Notes: Mark considers himself an adrenaline junky. The surprising thing though is that he exhibits a great amount of risk management as he moved through his trading career. We generally see this the other way around. After searching around the internet, Mark realized that he wasn’t going to buy into the nonsense marketing of living the ‘yacht life’ and making millions while trading on the beach with an iPad. He found Clay and recognized that he seemed down to Earth and had nothing to prove to anyone but Mark wasn’t willing to put any money into his education yet. His internet research led him to find a million different strategies and he realized quite quickly that he needed to find what worked for him specifically by trying multiple indicators and moving averages. Mark started to put these strategies into practice and found out that his lack of live data wasn’t good for trading news driven events. Unfortunately, he funded a live account and due to lack of proper risk management took a string of losers that ended that account. Mark was fortunate enough to have a good paying job to refill his trading account even though this wasn’t ideal. It was able to give him peace of mind that he can continue to search for what works. Eventually he told himself he can’t refill the account and had to work with what he had and be very selective. This led him to choose much more ideal setups instead of mediocre ones which has helped his profitability. Quotes: “I basically put money in and started trading blindly on the Toronto Stock Exchange. Over time I learned to trade the American market.” “I didn’t want to do any training. I didn’t want to give someone else my money to learn or pay hundreds for a chat room.” “Everybody needs to find their own trading style. It’s one game played thousands of different ways.” “You need to try different things. You need to know what works and what doesn’t work with trial and error.” “You should see what they are saying, why they are saying that, and then do your own search on why YOU want to trade it.” Links: Video: Paper Trading: How to Properly Practice as a Trader

Did I ever think I'd "talk trading" with someone from El Salvador? Absolutely not! But hey, that's the great thing about the podcast, it is allowing us to hear about journeys from literally all over the world. We speak with chat room member, "DarthRay" about his journey, which includes getting lured into a group where the leader was eventually sent to jail for essentially operating a Ponzi scheme.. yikes! He was also doing some real time trading as he spoke with us, which prompted an on air coaching call to unfold. I don't want to ruin anything, so I"ll just say the interview was very unique, and I mean that in a good way :-) Notes: Darth has had an interest in sales and the market for many years. After going to university, he transitioned into full time employment but once he arrived he recognized that he didn’t like the fact that he wasn’t in charge of his time. He started to investigate other income sources and considering he has some family who are in the market, this led him to try his hand on a simulator first. Three years ago, Darth decided he wanted to find someone to learn from. He thought he could make a good living trading off of alerts from guru’s. Unfortunately he had to learn the hard way that penny stocks generally move off an alert and then get offloaded into the sheep of the service. This led him to recognize he wanted to avoid penny stocks and trade options. After growing his account 300%, he unfortunately was involved in a ponzi scheme and gave all his gains back and more. The service he was using eventually closed and an investigation ensued so Darth went to find another service that hopefully wouldn’t dupe him. This led him to Claytrader.com . As Darth has progressed through his education he has developed a solid routine to prepare for the market and to trade accordingly. He completely abides by good risk vs reward principles which leads to long term steady growth in his trading accounts. As Darth has progressed even through some hard trading times, he has learned so many lessons and learned the reality of what trading is. Patience, focus, education, and persistence are all great words to define his approach to the market and also his life. Quotes: “I traded 3 Yugioh cards for a Playstation and 5 games. That is when I felt the first rush of trading.” “My paper trading was unrealistic. Basically I was lying to myself. I wasn’t preparing with my real balance.” “He told us to buy specific puts and calls. What we didn’t know was that he was selling them to us.” “I got a contract with a firm in Chicago and I’m going to open the first Latin American introducing brokerage.” “I can lose up to 3 or 4 times but if I have 1 winning trade it makes up for those 4 and gives me a profit. I focus on the winners.” “Never give up. This business is very hard. Never stop studying. The more I learn, the more I realize I have much more to learn.”

Freedom of time is a very noble goal as it allows for you to pursue avenues of life that may not otherwise be realistic. This is what community member "Dukes" (same name in chat room) used as his motivation to learn how to trade the markets. By using trades as a vehicle to free up his time, Dukes is able to strive after his dreams of building upon his acting career. I really enjoyed this interview as it goes to show that trading does NOT "have to be" a full time thing. It can simply be a tool to help you get ahead in other areas of life, which Dukes is a pristine example of. Notes: Ben is currently pursuing his acting career and while on the journey he was a manager at a clothing store. Because of his position, he was given stock options and that led him to get interested in the market. He would take odd jobs here there as well to further his career along with decreasing the debt in his life. A key point here is that Ben didn’t get into the market to ‘get rich quick.’ His interest in the market was to free up his time to pursue where his real passions are and after seeing Clay’s live trading videos he thought the market would be a good way to supplement his income. Once his life was at a stable point (stability defined as clearing all his debts and not trading to ‘make ends meet’), Ben opened up a trading account and just invested into household names as many new traders do. It oscillated up and down and he realized that he had much to learn if he really wanted to grow the account. After learning about technical analysis, risk management and options, Ben decided to focus on options specifically because of the significantly lower cost. Using the options as stock replacement has allowed him to trade larger names without putting his entire account in one trade. Ben strongly suggests that people spend more time paper trading since he only practiced for a short period of time. While everyone struggles with greed, especially when it comes to trading, it is so important to realize that trading is a business and a journey. It takes a healthy amount of time and effort. The slow and steady approach is the real way to improve upon yourself and your trading and Ben is a living example of this. Quotes: “I decided instead of a 1% savings account to try my luck in the market and I’m not too upset with what’s been going on.” tweet this quote “If I can replace a day's worth of work in 4 hours, I got my whole day to do all the things I want to do.” tweet this quote “I was so completely ignorant to the way that everything worked that you couldn’t even call it trading.” tweet this quote “I’m definitely a option trader now. In doing so it helps me avoid pattern day trader. I like that I can get more bang for my buck.” tweet this quote “Even though you don’t want to you start to put the stop losses in. Sometimes you were just wrong and have to deal with it.” tweet this quote “Spend a little more time getting educated before you start burning through your money.” tweet this quote

I'm sure some will look at this trader's journey and think it was filled with "boring" at the start. Our guest, Tim (alias in the chat room, "EarlyDawg"), may not have come out of the gates with guns-a-blazin', but he did come out of the gates the way it is supposed to be done. In terms of "how do I start to trade?", Tim lays a great blueprint for the steps to take. With that being said, even when you take the proper steps and go about the journey the right way, that does not guarantee complete smooth sailing either, but it does give you the upper hand in many regards. Notes: Tim’s introduction to the market was trading a small amount of penny stocks based on a family suggestion (from a newsletter). While the trade worked out for a 300% gain, his future trading would not be as successful. He has a large family and needed to focus on providing for them so he put the market aside for many years until he felt more stable. His wife saved up some money on the side and got back into the penny stock market and while her intentions were good, she got caught in a pump and dump. After heeding Clay’s warning that it would be foolish to trade without any education, Tim invested in himself and spent many months digesting the content before he even began to paper trade. He wanted to see all the options available to him and find what works for him personally. Everyone trades differently and Tim realized this very early on. Tim focuses on selling option premium (covered in the Advanced Options course). This is a great way to swing trade and essentially be ‘the house’ of a casino. He uses a blend of weekly options and monthly options to take in credit throughout the month. While he has only been live for 6 weeks now, Tim has already identified some problematic areas of his trading. He is slowly becoming comfortable not doing ‘something’ every day. The real key to credit spread trading is letting time pass and to trust his initial analysis which entails his risk profile and his profit targets. Quotes: “Bought an oil and gas company, let it triple and sold it. That was about 20 years ago and haven’t done much since.” tweet this quote “It took me about 3 to 4 months of just pure listening to the courses and podcasts before I even started to paper trade.” tweet this quote “Knowing that everybody is different, I have to figure out what works for me. Since this is my money, I don’t want to just jump in.” tweet this quote “I’ve got a capped loss, a capped gain, and if I lose I’m willing to lose that because I know all my other trades will make that back.” tweet this quote “I need to trust my initial analysis. If I just trust in the charts and the probabilities, I’m right more than I am wrong.” tweet this quote Links: Course: Options Trading: Advanced

This person is one mentally tough cookie. Our guest, David ("David from Columbus" in the chat room), took quite the tough-love-beating during his first few months as a member of the community. He was doing many things that we tried to warn him about, but he was... stubborn. To his credit, and why I respect him so much, he took the tough love like it was meant to be taken and factored it into his journey in an appropriate fashion. David is a smart guy, but like many, he's got some great battle stories already... which of course he shares with us! Notes: David’s introduction to the market was when he was 17 via his employers who made a majority of their income from trading and investing. They primarily focused on fundamental analysis but he felt like this was a lot of research work. Even though David was relatively young, he recognized the opportunity of being a contrarian and would buy strong pull backs and sell strong rally’s. He did not have any concept of risk management at this time and would just wait until he made his fixed profit target, one hundred dollars. Unfortunately, buying the dip does not always work. While he avoided one big drop by getting out at his fixed target his next trade was him maxing out his account while averaging down for months on an oil ticker. The interesting psychological point is that regardless of the big drawdown to his account, David was very sure of his position and the fact that it would bounce. The worst about about all of these practices is the fact that it is engrained in David’s head that he can always buy the dip and sell calls against it and make money. After some reflection on this, he realizes that if just one of the companies he was trading went under he would have lost his entire retirement account. This opened his eyes to risk management. David wanted to day trade to avoid the risk of gap ups or downs. After having a long winning streak day trading, David suffered a large loss that wiped away 3 month’s worth of gains. He recognized that he needed to learn from a professional in regards to risk management. He joined Claytrader University and is paper trading the strategies taught in the program. Perfect practice makes perfect. Quotes: “I was going to go against the trend and buy when people were selling and sell when people were buying until I made $100.” tweet this quote “It went from 30 to 20 bucks. So I kept buying and buying and averaging down until I was down around $3,000.” tweet this quote “I was just thinking ‘wow this cannot go any lower.’ I also learned about covered calls and sold against my positions to generate income.” tweet this quote “I first started with 50 shares and then moved up to 100 shares. Then in August I built into a position and lost $1,650 in 30 minutes.” tweet this quote “Going into the trade plan with a real good plan and has a high probability of success is really important.” tweet this quote Links: Video: How To Average Down Video: All Wins Are NOT Created Equal Article: How My Rule Break Spanked Me For A $1500 Loss

Having capital to trade with: check. Having a large cushion fund: check. Clearing away all debt before starting: check. Talk about putting yourself in a great spot to succeed, and that's what chat room member Jon (alias "ttJon") did. There was something else that occurred too, which would seem like a good thing... he made 300% return on his first trade... but was it a good thing? Did this big gain jump start his trading journey into make cash hand over fist? Sit back and enjoy a trading journey from a different perspective than we're used to, and I mean that in the most complimentary of ways! Notes: Jon’s introduction to the market was an economics class where the class would choose tickers to buy and they would compete every week against someone who would throw darts at a board with random tickers on it. Similar to many others, Jon’s introduction to trading was once he secured a job and had to pick his mutual funds. It wasn’t until years later when he had no debt, large savings, and extra money on the side did he decide to open a trading account. This is an extremely crucial point because if the worst case scenario happened in which he blew up his account, it would not impact him or his family in any way. After finding initial success selling his wife’s stock options on a big move up, Jon’s interest was now really piqued. He made 300% on this trade and now this was his target for all his future trades which led to him holding way too long even when trades would move in his favor. Jon let a hedge fund manager takeover his retirement account and while he did make a gain for the account, he kept 66% of the profit. At this point, Jon said he would never let anyone else manage his money. While looking for some trading education, Jon stumbled upon Clay’s live trade videos and after seeing an interaction between Clay and his daughter, he realized that this was the community and training he wanted to partake in. As he moves through the courses, Jon recognized the importance of trade plans and being wrong small and pushing your winners to their logical conclusion. Quotes: “I only opened my trading account after I had no debt, very large safety cushion and this was strictly play money in case I lost it.” “So I became a bottom fisher from 2011 on. Some of them did well but I wouldn’t sell because they didn’t hit my 300% target.” “I would make some big gains, big losses. Then I would just leave it all in cash until I could figure out how to trade it myself.” “The money isn’t the issue. I don’t want it for the money. I want it for the time. I want my time back in 5 years.” “So it’s not just the price action. Not just the level 2’s. It’s getting to understand how they all work together.” Links: Videos: Live Trade Videos

I'm not sure you could start out a trading journey any better than quadrupling your initial account. Trading chat room member Mike ("JustMike" alias) did exactly that when he first began. With such a strong opening act, was it all just rainbows and sweet old ladies for Mike, or were there some bumps to come? Thanks to Mike's openness about everything, Chezz and I were offered up many friendly reminders on what should be and should not be done as a trader. There is no doubt in my mind this interview will entertain and educate you. Notes: Mike’s introduction to the market was a stock picking game that he participated in for college which sparked his interest in speculating in the market. After attending a seminar with a friend of his, they decided to get involved in Investools stock program they were offering which opened up Mike’s world to charting. He was fortunate to never have to go down the road of penny stocks. Even after being able to consistently achieve 10% returns on his trades, he was unhappy at the amount of profit and this would lead him to holding and ultimately losing on the trade. Unfortunately Mike struck some ‘fools gold’ which led to a big win on earnings. Now that he has quadrupled his account, he is trading all his newly acquired money. After thinking that earnings would be his ‘holy grail,’ Mike’s account went back to zero on one bad earnings trade. He started back with a small amount and decided to avoid earnings. Him and his family then relocated for a different job and it sparked his desire to get back into the market. While his technical analysis skills are pretty good, his risk management was not up to par yet. Mike and his wife moved to Chicago right before having their first child. He utilized the time he had while his wife was on maternity leave to paper trade for a solid 4 months before returning to the market on his live account. This led to him focusing on strict risk management. He has a very high win rate but his losers would wipe away those wins until he remedied the problem. Quotes: “We went and saw their pitch. It was a ‘follow our system’ approach. It was all charting from the beginning.” tweet this quote “The problem I had was that I would buy and even though I know 10% is a good return, I’d hold it and it would go down to zero.” tweet this quote “I got back into options, growing the account and taking some out whenever I could. I realized that I can do this.” tweet this quote “You just need to get used to pushing the buttons. You need to get used to seeing red on the screen. You have to get used to that.” tweet this quote “If I’m winning 4 out of every 5 trades, that 5th trade I refuse to admit being wrong. I would think I’m right it just hasn’t happened yet.” tweet this quote Links: Video: All Wins Are Not Created Equal

If you are a member of the community and spend any amount of time in the chat room, I'm confident that you are at least familiar with our guest, Parker. He absolutely loves his technical analysis charts and is always posting them in the chat room so other members can "visualize this thoughts" in regards to a trade. In fact, while we recorded this interview, he posted a few charts in the chat room - haha! Where did this love of charts come from? Why is he such a believer in them? How exactly does he go about using charts in his trading? We cover all this and much more in our talk with Parker! Notes: Parker’s introduction to the market was his roommate when he was younger. He would get home from his night shift and see him investing in the market. This opened his eyes to the opportunity of the market which led him to saving up money for the market specifically. Parker was able to make a significant amount of money from the marijuana penny stock boom. His string of ‘lucky’ winners led to overconfidence which led to him completely blowing out all the profits he had accumulated up to this point. He took 8 months off to focus on school before returning to the market. He started to paper trade in a realistic fashion and develop a good methodology. After saving up $5,000 again, he returned to the market and really emphasized respecting his stop loss and treated trading as a business. Realizing that he could get a greater return on capital utilizing options, Parker has mainly transitioned to trading options and occasionally using equities. He mainly day trades but has no problem swing trading while accumulating positions and scalping around a core position. Parker is extremely adamant about utilizing multiple timeframe analysis and really attributes his usage of this principle in his success. Quotes: “I looked for some really cheap stock to load the boat with and hit a homerun.” tweet this quote “Maybe it was the worst and the best thing that could happen to me by just getting lucky. Complete luck.” tweet this quote “I started respecting my stop loss which was groundbreaking for me. Sometimes that’s a part of the learning experience.” tweet this quote “I was religiously prepared for every single trade I would get in. If I hadn’t drawn up every single time frame I would not enter.” tweet this quote “If I only had that one source of income starting out there's no telling what I would have done because of emotions in the trade.” tweet this quote “Mentally you have to be ready to lose a few dollars. You have to be okay with taking a loss. Nobody wins every trade.” tweet this quote Links: Video: Trading Review: Binary Options Video: How To Trade Penny Stocks on Steroids

Working for the world famous sports broadcasting company of ESPN, I can see how that would be a "dream job". Our guest from the community, Hamlet, through hard work and dedication was able to achieve this goal of his. One would think that he had reached the pinnacle of his ambitions and would just continue to build from there; however, this all lead Hamlet to the world of trading and the markets. Huh? Yeah. I thought that too! Luckily for us, Hamlet is an open book and we get to go alongside him through this exciting and interesting journey. Notes: After Hamlet graduated from college, he landed what he thought was his dream job at ESPN. Unfortunately the job was extremely stressful and led to him figuring out what would be the next logical step in his life. This led him to wanting to get involved in the market. While doing his due diligence on Claytrader, he stumbled upon a review of someone who actually didn’t like Clay very much but did his research and investigation and concluded that Clay was indeed genuine and truthful. This led Hamlet to invest in Robotic Trading and join the community. Hamlet exhibited some great risk management by purposely starting with a small amount of his overall capital. He got his ‘feet wet’ by keeping his position sizes small and ensuring that he was developing good habits up front. You can tell very easily that Hamlet had always treated this as a serious business and didn’t treat it as ‘funny money.’ He took $15,000 out of his 401k to start trading larger size and was able to make a pretty sizable gain. However, he does say that in hindsight he should have never taken a position that large. A month later Hamlet changed his approach. His use of a mental stop and averaging down led to a large loss which devastated him. After reviewing his trading and spotting his pitfalls, he has been extremely consistent since then. Hamlet excels as a day trader and enjoys not worrying about gap risk holding multiple days. He’s actually been doing so well he was able to use his trading profits to launch his own ride sharing rental company. Quotes: “It was a really intense environment. I realized it was going to take me so long to get to my long term goals in life.” tweet this quote “I looked into fundamentals. With all the information, how am I ever going to trade with all of it? I knew there had to be another way.” tweet this quote “Many people have said in past podcasts, the chart never lies.” tweet this quote “It was almost like an easy trade right in front of me but there is no such thing as an easy trade.” tweet this quote “When I get stubborn, I just don’t want to lose. Everytime that happens I lose money. You have to let those losers go.” tweet this quote Links: video: Penny Stocks On Steroids blog: How To Make $51,000 In A Single Day

Chezz and I once again are venturing to the southern hemisphere to talk with a trader from Chile. I say "once again" because this is actually the second trader we've talked to from the country of Chile... pretty cool! Nicolas (chat room alias "Sazu") takes us on a wild ride which starts with him basically knowing nothing about the market (which includes him thinking penny stocks are a "good idea") and ends at a place many people want to be: trading full time from his own home. Notes: After going through college and getting into his first job, Nicolas realized right away that he would not be making enough money to make him happy. This led him to explore other options to supplement his income. He started to research value investing similar to how Warren Buffett decides what to buy. Realizing that fundamental research was a very slow and laborious process, he was unsure if this was the best for him. Nicolas spoke to a friend who steered him toward a shorter term trader who recommended checking out Claytrader.com . Nicolas took the Penny Stock Survival Guide and recognized right away that there were many downfalls and risks associated. This led him to follow Clay’s recommended course path and he then continued to invest in his education to become a trader, not investor. While Nicolas did take a string of losing trades, the most important part is that he kept them all extremely small! This allows your winning trades to easily wipe out many losses sometimes all at once. Nicolas’ workplace was also not very conducive for trading. He would constantly have people hovering around him asking him questions about it and he was kind enough to speak to them about it. However, this is an incredible amount of distraction which is not helpful for trading. Nicolas saved up a good sized account (and a year's worth of expenses) and decided to work from home and trade for a living after that. Quotes: “I started researching Warren Buffett. I watched 3 course videos and read 3 books on value investing.” tweet this quote “This guy sent me lots of emails saying ‘get rich soon.’ I thought, get away from this guy and went to your website instead.” tweet this quote “I took my time and continued being patient. I just continued learning and watching videos imagining I was trading.” tweet this quote “I was waiting for the home run. I wrote down my mistakes and what I had to improve on after that.” tweet this quote

We love to preach about forming good habits around the community, and this interview gives us a shining example of 'why' that is the case. Thanks to Donald's (chat room alias, "Speedster47") openness about his journey, we get to see not only how bad habits can creep into a strategy, but more importantly, just how annoying/difficult they can be to get rid of. If you take anything away from this discussion, I hope it is realizing how careful you need to be of avoiding forming bad habits. Notes: Speedster’s original introduction to the market was similar to many others, through his Economics class. Many years later following his college education and full time employment, he had a friend who worked in the finance industry and was day trading for small profits. This piqued Donald’s interest in taking his trading future into his own hands. Donald recognized very early that he needed to get educated. He decided to try to soak up as much free education as he could but as we all tend to find out, free education is usually all over the place and while bits of it may be helpful, it’s lack of structure ultimately does the trader no good. After not finding much success to begin his trading career, Speedster decided to start trading penny stocks. His strategy was to buy and hold energy penny stocks as an investor. He was smart to recognize that he was still trending down (losing money) and was able to lower the amount he as losing incrementally. This is always the first step to becoming profitable. Since Donald focused on self educating himself and had no support system at that time, he had developed bad habits that he has been working on ever since. Right now he is focusing on maintaining discipline. As you hear in the podcast, Donald is super hard on himself but he is still profitable for the year including covering the cost of Claytrader University! Trading always leaves room for improvement and maintaining discipline is without a doubt that hardest piece of the puzzle. Quotes: “I wanted to get some shares of my company, sit on them, hopefully take the rest of that money and potentially grow it.” tweet this quote “I figured I would learn by experience. Once I finished those books I wanted to put my toe in the water. That was the wrong thinking.” tweet this quote “If you think you’re going to be a penny stock investor, you’re just wasting your time.” tweet this quote “I was in the kool-aid camp. I was believing the pump and just thought it would come around.” tweet this quote

Trading journals are a part of the markets that can be very beneficial, especially to those people who are beginners in trading. Max ("Maximus" in the chat room) shares with us just how his trading journal has been preparing him to go live with real money. We discuss many other interesting topics too, but the part that really stuck out in my mind was how organized he is in tracking all his trades. Whether you're a new trader or a veteran, I'm confident you can garner at least a few bits tips or tricks from our talk. Notes: Max’s introduction to the day trading the market was spurred by Clay’s 10k calorie challenge. This led Max to spark up a conversation with this resident advisor to which he found out that he was day trading the market in the morning before classes. While Max did the right thing by paper trading, he did not treat it seriously by any means. He treated it like a video game by not utilizing realistic figures that he would be using when he went live. Now that Max has gotten his feet wet trading speculative biotechs and technology companies along with countless hours of working on his craft, he now is involved in a co-op program though his school to trade full time for 6 months with advisors from JP Morgan and others in the finance industry. Max brings up a great point about how everyone trades differently and while his resident advisor trades successfully one way, it doesn’t particularly jive with him. There are many ways to make money in the market and everyone has to find what spot they fit best. Data is extremely important for Max. He strongly suggests that everyone use detailed journaling techniques to keep track of progress and spot potential trading issues that will impact long term profitability. There’s no argument or justifications to foolishness when you have the data logged and presented in front of you. Quotes: “I got some good information. I thought I knew what I was doing but I was really just Googling stuff.” tweet this quote “I don’t want to admit how many hours I stared at charts from January through June. I thought that would fix me.” tweet this quote “Journaling as a beginner gives you power to recognize your mess ups. I like to have a guideline of how I’ve been performing.” tweet this quote “Looking back I would tell myself that ‘I don’t know anything.’ Work a little bit smarter but just as hard.” tweet this quote Links: Video: 10,000 Calorie Challenge

We decided to celebrate episode number 75 by bringing on a well known member of the community, "h00ch". There was not any agenda predetermined for the show as our goal was to stumble down as many different rabbit holes as possible. The one topic that we got stuck on for quite a bit was full time trading. Trading full time is a goal that many people have, and while it is certainly possible, there are many dynamics that go into it. If you're end goal is to become a full time trader and work from home, then this episode is definitely for you. Notes: This episode we have a round table discussion with community member h00ch. We start off talking about how trading isn’t something that changes very often since charts are a reflection of human emotion and human emotions generally make the same mistakes over and over (which provide great trading opportunities for us). The fools gold dilemma presents many problems for newer traders who are attempting to take shortcuts. There are no shortcuts in this industry just like there is no ‘holy grail’ indicator. Do yourself a favor and take this seriously. We discuss the reasons that led us to the market. Whether it’s to get out of a dead end job, to increase income, etc., there are many opportunities available. This ties into the pressure of HAVING to make money and how it can negatively impact your trading. An unfortunate reality in trading is that people view education as something to just check off the list. Just because you bought a course does not mean you should be trading live yet. You have to practice and find your edge to prove that you do know what you are doing. Quotes: “With trading, because it’s just human emotion at the end of the day, humans are humans and emotions are emotions.” tweet this quote “You need to be educated before you dive in. They’re just setting themselves up for fools gold.” tweet this quote “Some people are thrown for a loop when they join and we say ‘you probably shouldn’t trade with real money yet.’ “ tweet this quote “It’s been the biggest fight with myself. I have only just now felt like I finally have things in check regarding size and risk.” tweet this quote “You don’t realize how much outside stress can affect your trading and mindset.” tweet this quote “95% of society just wants to throw money at something and wants their problems to be solved.” tweet this quote Links: Nashville Meetup: Register Video: Are You A Puppet Trader Video: Full Time Trading and Dirt

It's not a new topic of conversation by any means; however, it is one that is always worth repeating given so many new traders believe certain things that are NOT true. This is especially true when it comes to smaller accounts and penny stocks. Our guest, Keith (chat room alias, "KrazyInTheKeys") talks about his experience with this very topic. He stumbled into penny stocks believing it was where he "had" to be, but is that where he stayed? Let's find out. Notes: Keith bought into the idea of getting rich quick based on a stock tip from a coworker. A good thing is that he limited his risk by only deploying a small amount of capital since he was very skeptical of the idea to begin with. Even though he lost some money attempting to trade penny stocks in the beginning of his journey, Keith reflected on the idea that education pays dividends. This was the exact case for his job in the medical field so he knew it would be wise to invest in his market education the same way. After a few weeks in the community, Keith went all in and joined Claytrader University and has been going through the courses since April 2016. He realizes that with proper training, trading can and will be his next income source as he slowly winds down his work and transitions toward retirement. Keith immediately realized the benefits of options over penny stocks and has completely focused on them. Instead of parking his money in penny stocks that sometimes rarely move and exhibit very low liquidity (and horrible spreads), Keith can focus on a basket of high volume optionable stocks that provide opportunities on an everyday basis. Quotes: “I wanted to sell it when it was trading higher and buy into it when it traded lower. I noticed it always had this wavy trend to it.” tweet this quote “I made a huge time investment and monetary investment in my career and it paid off. Clay made me realize the market is the same.” tweet this quote “That was one of the greatest thing I learned from the courses was to stick with paper until I feel totally comfortable.” tweet this quote “When you buy a penny stock you hope that one day it will reach a gain but with options you can trade them day in, day out, every day.” tweet this quote “I feel a lot better about my trades just checking in on them every once in awhile instead of sitting in front of it all the time.” tweet this quote

Thanks to a popular Hollywood movie, chat room member Devin was drawn into the stock market. His first pit stop in the markets was the wonderful world of penny stocks where he wandered around surrounded by sharks and wolves. Devin was given some money by his Dad to assist in his trading, so did having more money at his disposal make trading any easier? The crazy thing is, Devin hit some good solid home runs, yet, despite this, his account kept bleeding in the southern direction. There is lots to learn in this trader's journey. Notes: Devin’s introduction was actually through his father. A good thing about this experience was his dad was never obviously upset or overjoyed by the positions he took. He remained even keeled from what Devin could observe. After watching the Wolf of Wall Street, Devin started to research penny stocks and ended up in a penny stock chat room. Using a tax return from the previous year amounting to $500, he began to aimlessly gamble as many do when first starting to trade. Devin’s father gave him and his twin brother some money to help aid them in taking their financial future in their own hands. This is a double edged sword because even with the best intentions, Devin could now trade the same way he was in the past but with larger size. As time progressed, Devin transitioned to trading a small basket of stock utilizing their options which is very friendly to a smaller size account. He has found more consistent success swing trading advanced options since it requires much less management. This works well for him as his day job responsibilities have increased greatly in the recent months. Quotes: “I wanted a place where I could find stocks. I would just sit in there and wait for someone to say something.” tweet this quote “I convinced myself that I was learning with each loss and I was going to get better from it.” tweet this quote “I was always hoping for that home run. I started to realize for every home run there is 3 strike outs. Slowly my account dwindled down.” tweet this quote “I was being much more careful but something still wasn’t clicking but I was disciplined enough to cut my losses quick.” tweet this quote “One issue I had with penny stocks was buy and hope for the best. I didn’t even think about what would happen if it went against me.” tweet this quote Links: Video: Trade Penny Stocks On Steroids Video: Getting Romantic With Options Trading Video: The Most Effective Order Entry

Thanks to the Canadian government and technology, our guest was introduced to the trading markets, and has essentially never looked back. Vincent (chat room alias, "trader-vic"), as many do, became addicted to the markets and simply put, "just wanted to trade." This lead him to the whole mindset of learning on the job... and... well... I'll let him tell you how all that went. Oddly enough, his day job ultimately played a large role in helping to get his head screwed on the right way. Vincent was very open about his journey, especially the addiction part which I can totally relate to. All-in-all, it's an eye opening account of just how dangerous the markets can be if you let them be. Notes: Vincent’s real introduction to the market didn’t occur until he got his iPhone 5. For the first time he felt that he was able to fully control his access to the market and wanted to put some of his money to work. Canada gave its citizens 100 shares of a stock and while most people forgot about it, Vincent’s interest was piqued and this led him to start getting interested in trading more names. After opening an account he put some of his cash into gold mining companies. Vincent eventually went down the penny stock route and had the typical experience of buying the top and selling the bottom. He also noticed that his success rate was very high when the market was rallying and then dropped significantly as the market went sideways or down. This led him to believe he ‘lost his touch.’ He unfortunately continued to trade with real money while learning how to trade with charts which created some sizeable losses. It wasn’t until he was able to pull himself away from the market (with his day job) to reset and start applying what he learned correctly. With his newfound knowledge after going through the training, Vincent recognized that he really needed to get his platform set up to his liking and paper trade EFFECTIVELY. Effectively in the terms of keeping his paper trading as real as possible. He will find what works first on paper and then apply it with his real account. Quotes: “When it came time to sell I had to telephone them on a rotary phone, go down there and sign some papers downtown. Lots of rigmarole.” tweet this quote “I didn’t know anything at all about charts. I didn’t know the difference between a bollinger band and a bean bag chair.” tweet this quote “I was so frustrated following analyst reports. I then turned to Youtube and found Clay posting his charts. I signed up the next day.” tweet this quote “I was saved by my day job. I had to out and work long hours day after day for a few weeks and that broke the losing spell.” tweet this quote Links: https://claytrader.com/videos/trade-penny-stocks-steroids/

We've interviewed some members of the community who do not talk much in the chat room (totally fine, variety is a good thing!), but in this episode, Chezz and I get to hang out with a well known member, "Mr. Bee". Unlike many other traders (myself included), Mr. Bee never struggled with the concept of admitting he was wrong and cutting a loser fast, but he found himself challenged with the other areas of trading all of which he shares with us. Along with this, he shares a very nice Jedi Mind Trick he uses to motivate his psychology to keep working hard. Mr. Bee was very open and honest creating an action packed interview with many gem learning points. Notes Mr. Bee had an interest in the market at a very young age but had a 15 year gap between that interest and his first investment in his education. With his current account value, Bee was forced to trade lower priced stocks until the options trading courses came out. This really helped show who in the community was disciplined in taking small losses and those who ‘held the bag.’ The good thing is that he has never had an issue with cutting losses fast. A great outlook on his trading concerns the idea that a trade is merely money gained or money lost which makes it easier for him to book losses quickly. Mr. Bee also believes in treating himself with his hard work from trading. The use of money earned trading helps solidify in his mind that his hard work is paying off. He is currently trading part time with his job but has aspirations to go full time in the next year. The beauty of the financial markets is that if you are proficient at trading them, you have the freedom to spend your time as you choose and Mr Bee. would much rather spend time with his family than at his 9-5 job. Quotes: “Trading is the same feeling as golf because it is something I don’t think anyone can master. But you can keep trying.” tweet this quote “All of us take losses and losses are a huge part of it. This is definitely not a game.” tweet this quote “I know that I’ve put the work in and see what is going to happen. My biggest struggle to this day is being patient.” tweet this quote “It’s always nice to fantasize about how big a win could have been. That’s where I kick myself more than a losing trade.” tweet this quote “I don’t personally like to keep the money in there like it’s a trade vault. I have to be able to reward myself with it.” tweet this quote Links: Course: The Trading Freedom Pathway

I really enjoy this interview as it takes a different approach and gives us a very valuable lesson. Many people think if they understand that trading is not a "get rich quick" venture, they're already on the path to easy success. Don't get me wrong, understanding this principle is extremely important, but as our interview with chat room member Kent shows, there is much more to trading then simply acknowledging riches are not made overnight. Kent is a very systematic guy, and I really found it intriguing and insightful to hear about how he is preparing himself for trading. Notes: At the young age of 15, Kent was introduced to stock options. The interesting thing is he was also able to watch them bleed a $40,000 account down to $2,000. Kent was smart enough to not buy into the ‘get rich quick’ nonsense that this industry is filled with. He tried one other chat room but quickly realized that it was a toxic environment that he did not want to be a part of. After checking out what was offered here, Kent decided to jump headfirst and join Claytrader University since he enjoyed the free content and found value in the lessons provided. As he continues to go through the courses, he is practicing and seeing what he is strong at and what he is weak at. There is no sense in putting your hard earned money on the line if you are unsure where your particular edge is and he realizes that. Kent understands that trading is not about getting rich quick and is putting in the effort to make this a long lasting income source in the future. Quotes: “They didn’t have any stop losses at all. They were trading completely emotionally. They were straight up gambling.” tweet this quote “I realized that you can really make a life from this. Not this ‘you can be rich beyond your wildest dreams in 2 minutes.’ “ tweet this quote “The education is just awesome. It is horribly redundant which is fine for an old army guy. It’s dummy proof.” tweet this quote “Even if I think I’m ready, I’m still going to take a minute to go through it all over again and continue to work on it.” tweet this quote “I would have jumped on the education sooner and been really regimented about it. It really is what makes the difference.” tweet this quote

If you've traded for any decent amount of time, and are being honest with yourself, I'm sure you can probably relate to our guest in at least one regard. Tim (chat room alias, "Toggs") found himself using the strategy of "hoping" a stock would go in his direction, after it already had not, instead of just cutting the loss. This strategy is one of the many interesting rabbit holes we wander down with "Toggs", and as always, through some of his painful experiences, we are all able to learn something... free of charge! Notes: Tim’s introduction to the market was the talking baby eTrade commercial during the Super Bowl. He limited his risk by only deciding to start with $500 dollars. After doing plenty of Google ‘research’ to find his stock picks, Tim ended up on Stocktwits following the recommended tickers that he read about. Tim went on to learn about options in a very basic sense and started trading some larger, more known names now. Unfortunately, he got blown out on an earnings trade which led him to have to reload his account. Realizing that he needed to get educated from someone with experience, Tim jumped in and joined ClayTrader University. He listened to Shawn’s podcast and got his options account up to $250 to begin putting to use his new knowledge. While a ‘brain fart’ led him to losing $120 of that account, the 98% of the time he is trading he continues to develop good habits. While making $10 does not seem appealing to many, with proper risk/trade management, these gains can further be compounded in the future. He is laying the groundwork that will pave the way for future gains in Tim’s account. Quotes: “I think it was just finding that Robinhood app and deciding to try this again. See if I could learn a little bit more.” tweet this quote “I made a second trade and it went against me. I thought, maybe if I hold on to it that it will bounce back. That was my strategy.” tweet this quote “I felt like I had to look at myself and realize how much I do know and realize I have a lot left to know.” tweet this quote “I just want to get good at visualizing the chart and knowing what movement I can expect it to go.” tweet this quote “If you’re losing in a trade don’t wait for it to bounce. Just get out, cut your losses and find a different entry point.” tweet this quote Links: Course: The Trading Freedom Pathway

"No guts. No glory." That's definitely the attitude our guest took when first entering into the markets. Romeo (chat room alias, "YankeesVsBoston") has some very bizarre luck when he first started trading, leading to a very false sense of confidence. Enough confidence in fact to give him the guts to take a loan out to fund his trading account! Like I was saying, "go big or go home" was his philosophy early on. How'd that all work out? Was it a wise move on his part? Let's find out... Notes: After graduating from college, Romeo decided to set some money aside to speculate in the market. He was not happy with the returns of CDs and savings accounts. This led him to the world of penny stocks. His initial penny stock purchase immediately went to 0 but to Romeo’s surprise, a few months later this ticker had a flurry of volume and tripled his money. This led him to believe he was the king of trading but continued to fuel his interest in the market. Romeo took a $5,000 loan to add to his trading account now and tried to utilize it on 2 trades but luckily for him, he could not get a fill and essentially avoided two massive pump and dumps that would have wiped his account out. Unfortunately, he went all in at the top of his next trade and sold the low to cover his first loan payment. This event led him to realize the importance of practicing his craft so he spent months paper trading to find what specific type of strategy worked best for him. After chatting with another member he decided to join CTU and further his education. His dedication was only further compounded by having his friend believe in him and give him a generous loan to help kickstart his trading attempt. At the time of this recording, Romeo is now trading full time and has almost completely cleared out his old debts. Quotes: “As soon as I bought it, it went straight to .0001 the next day. I thought ‘Wow, that’s it. It’s gone.’ “ tweet this quote “I finally got filled and it was at the very top. I held and sold at the bottom and barely had enough for the loan payment.” tweet this quote "I probably spent 6 hours of my time a day studying and studying. I had zombie eyes. I was really focused on what worked for me.” tweet this quote

Wow! That's really all that can be said about the perfect storm that hit this trader. I won't spoil anything, but a lot of weird and crappy things happen... all at once, leading to a not-so-ideal spot for our member Chris ('xzbt' is his alias the community chat room). He was backed into a corner and had to change things up quite a bit, but he did what he had to do to keep himself engaged in the markets. This journey is definitely one of the more unique ones we've heard, so sit back, relax and enjoy the ride! Notes: Chris had a few family members and friends who were quite active in the market. His uncle had the foresight to go to cash before the 2008 crash. Unfortunately, Chris listened to his CFP advisor and was caught in the melt down. His first introduction to Clay was actually during the first iteration of Robotic Trading before the website and community existed. It was presented to iHub which is where he found Clay initially. While all of this was happening his business was also in decline so he became quite aware that he would be unable to trade actively for a while so this led to a multi-year trading hiatus. However, his interest in the market did not wane and during that hiatus he continued to check the various charts and industries of interest. Even though Chris’ ‘hand of cards’ has been quite rough over the past few years, his passion for the market has never wavered. Regardless of the fact that he is not live trading currently, he is practicing his craft and paper trading realistically which will only serve to help him transition back to the live market with good habits. Quotes: “It was a perfect storm of a market crash and massive unexpected expenses and literally wiped out my savings.” tweet this quote “I try to live my life with the philosophy that I try to learn from my mistakes and not make the same mistakes twice.” tweet this quote “That was a mistake I made. I did mental exercises looking at the charts but I didn’t write it down.” tweet this quote “I still battle with the fear of missing out. Sometimes you just have to take that split second to think about it.” tweet this quote “If I see an alert I actually research it to decide if that is something I would trade. If I’m too late, oh well.” tweet this quote Links: Course: Robotic Trading Video: How To Paper Trade Video: How To Paper Trade With a Purpose Course: The Cash Flow Creation Guide

Thanks to a very open and honest sharing of his journey from chat room member Andre, we all get a behind-the-scenes view of the chaos emotions can create. Throw in the fact that he did not really have a plan either, and the snowball (he's from Canada, get the joke? haha) of chaos becomes that much larger and picks up that much more momentum. Andre had a few key events that caused him to stop the snowball, and then reanalyze a different way to go about this whole trading business. What were these events and what steps did Andre take? Let's find out... Notes: Andre’s introduction to the market was a stock picking contest through a newspaper many years ago and while he didn’t do well, this contest had piqued his interest in the market. After doing some Google research, Andre began trading based on tickers he would read other people talk about (Stocktwits, iHub, etc.). His trading was very unsteady at first and even when he made money, he was trading US stock with Canadian currency so he would also get hit with conversion fees every trade he made. He did end up opening a $10,000 account with much lower fees and began trading again but still had no real strategy at this point. He had a successful strategy of buying toward the close and selling into any pop in the morning but he would then give back all those gains in the afternoon. While going through the courses, Andre realized he was trading very emotionally which led to most of his losses. Now he is planning out solid trading plans with proper risk versus reward. Even though he is not comfortable swing trading yet (since he does work a full time job) he plans on working through the Advanced Options course to see if it would be viable for him. Quotes: “I opened up a $1000 account and blew it immediately. I came across some penny stocks and just threw some in.” “I didn’t fully understand the market back then. I hoped it would climb and just keep climbing.” “If there wasn’t any major sell off at the close, I would use that as an indicator to stay in. I’d then give it back in the afternoon.” “I usually just jump in and then put my stop. I’ll use my risk vs reward ratio and continue to work on my entries.” “Don’t run at it. It will come to you in due time. Take your time and don’t get riled up.”

It's an odd thing to think about, but in all reality, it's a logic worth discussing deeper: if you are going to do something wrong, at least be wise about it. This is the overarching theme of our interview with chat room member Garrett. I realize it seems like a contradiction, I mean how can something be "wise" if by definition, it is already "wrong". We talk about that and much more with Garrett, who very well may be one of the more skeptical people we've had on the show. I don't say that in a bad way, but it created some great conversation pieces and perspectives. Notes: Garrett’s introduction the market began by having a friend tell him that he should let someone else manage his money. Being skeptical by nature, he figured that he could manage it better than anybody else and keep his best interest in mind. He was smart enough to limit his risk right off the bat by only funding his trading account with $500 of his initial $12,000. After putting this in 2 stocks that were household names, he immediately took losses to the tune of 50% of that initial $500. These losses led Garrett to realize that he needed to get educated to compete against the professionals in the market. He was smart enough to be skeptical of penny stocks and didn’t think he could compete in commodity futures so he settled on indices futures. Considering he opened a small account, he once again took more strings of losses that led Garrett to pursue some paid education vs the free Google and Youtube trading videos he had watched prior. After stumbling upon a day trading ‘guru,’ he quickly realized this person’s style did not mesh well with him and eventually he found Clay. After going through the courses Garrett realized he needed to go to paper trading until he had a firm grasp on all the techniques and risk management. He’s currently in the break even stage of his option trading and that’s where he will most likely hone his edge in the market and continue to improve as time goes on. Quotes: “I just went ahead and put 500 in eTrade. I did absolutely no research at all and just bought a couple stocks.” tweet this quote “I really wasn’t paying too much attention to the chart. I just bought into the stock and was hoping it would go up.” tweet this quote “I’ve done so much research and if I still can’t become profitable, I still need to go do some more research.” tweet this quote “I’m not going to give up and I recover well from losses. I don’t let it ruin me.” tweet this quote

I give episode guest, Charlie, a lot of credit as he was willing to sit down with just me and be interviewed. Our co-host, Chezz, had other obligations, so Charlie got stuck with me... and he did great! His analogy and description about the emotion of greed was absolutely awesome and almost brought a tear to my eye! Charlie is one of the younger guests we've had on the show; however, in his very short journey thus far, he's already experienced as much as some people who have been trading for years. Thanks to Charlie's openness, there are many mistakes that we all can learn from (that don't cost us any money!). Let's go! Notes: Charlie had a real sense of urgency to be successful in life except he didn’t know what he wanted to be successful at. After working a few different jobs, he finally found one that he enjoyed but was still exploring what other opportunities are available. After stumbling on a stock picker website, his interest was piqued. After doing some exploration on Reddit and other free websites, Charlie frantically opened 3 brokerage accounts because the application process was taking too long at some other brokerages. He just wanted to get his money there and start trading ASAP. Charlie did do a good job of managing his risk by limiting the size he enter with on these penny stocks. He did get addicted to larger gains which led to the greed voice and we all know how that ends. He does realize that he got lucky and actually ended up making money on the year. Even though Charlie had made 2,000 dollars over the course of a year, he did not like the fact that he was dependent on Reddit for his trade ideas. If Reddit were to go down, he would not know how to find stocks to trade. This epiphany led him to realize that he needed how to learn to ‘fish’ on his own and that is when he decided to invest his profits into his education. Charlie recognizes that this trading journey is just that, a journey. This is not a get rich quick scheme and now with realistic expectations, Charlie is getting through the content and planning on pursuing paper trading so that his future profits can be a result of his hard work and not luck. Quotes: “You don’t know what this guy is talking about or what angle he’s taking. He just talks about this stock that will make you millions.” tweet this quote “My strategy was if someone's talking about it it’s definitely going to go up because of hype. Hopefully get out before it plunges.” tweet this quote “I was thinking this was going to the moon. They were going to cure everything. I got in during the dump stage of that.” tweet this quote “Alright, it’s house money anyways. I made 2,000 bucks and spent it on education. Pretty cool how that works out.” tweet this quote “It’s easy to learn from other people's mistakes rather than losing a bunch of money. It discourages you from doing something stupid.” tweet this quote

We close out our journey with chat room member "CPO" in Part 2 of his interview. We left off with him deciding to meet Chezz and I in Baltimore as he wasn't too happy with the chat room experience thus far. Where did things go from here? CPO has learned quite a bit since then. His knowledge is now unfolding before his eyes in terms of feeling confident in not only build trading strategies that fit his personal risk tolerance levels, but in executing them. Once again, many nuggets of wisdom based on experience are shared thanks to CPO's openness. Notes: CPO recognized that if he wants to trade some of these volatile tech names he should focus on how they move. With deliberate focus you can definitely learn how certain names move and what their ‘personality’ is. Considering CPO is unable to trade at work, he has started to look at the futures markets since they trade for about 23 hours of the day. He used to try to day trade regular equities and options during lunch on his phone from his car but he was tired of just forcing trades and seeing he would be stopped out later in the day. Market preparation is always key and CPO takes a few hours out of his day to prepare by reviewing the main tickers that he trades. He also stresses the point that learning how to read charts takes time. This combined with your trade plan and the ability to recognize when your trade plan loses its appeal allows him to take the excitement out of his trading and put the odds in his favor. Quotes: “I’m not actually trading against the market. I’m trading against other people just like me. I’m my own adversary.” tweet this quote "It’s really hard to day trade when you don’t have access to your trading platform while you are day trading.” tweet this quote “All indicators are just to cue you that you’re on the right track with your trade plan. It helps me make decisions.” tweet this quote

We have another two part episode as we dig into the journey of chat room member "CPO". He has been on an adventurous ride ever since first being introduced into the markets. This included signing up for the chat room and not being too happy about it. In fact, he was still not very happy about it when he decided to come meet up with Chezz and I during our Baltimore Meet-and-Greet. How'd this meeting go? Did he choke me out with this knowledge from his SWAT Team training? We shall see... Notes: CPO had an interest in the market at a relatively young age but he believed he was unable to participate. He thought it was for big wigs on Wall Street. As he got older and transitioned into a new career, he was offered stock options, matching 401k contributions, and those are all great but he disliked the fact that he did not have a say in where the money was invested. He wanted more control over his finances. He was pleasantly surprised to find that he actually had a brokerage account sitting idle and decided that he would utilize this money to invest/trade with some knowledge he acquired from a book and google. The unfortunate thing about this trading account is that CPO had treated it like Monopoly money since he didn’t recognize that it was his hard earned dollars. After being unfamiliar with the pattern day trader rule, CPO was eventually flagged and this led to him not being able to day trade further in his account. He then went and opened a new account. The mistake he made at this time was that he was trying to trade alerts from the Inner Circle but wasn’t familiar with the alerts or strategies that are best suited to them. This led to losing trades and frustration. He had tried to reverse engineer the alerts but was unsuccessful. Since the Baltimore meet and greet was not far from where he was living, he decided to take a chance and come meet some fellow traders to hopefully learn something. Quotes: "All I know is I’m thinking long term. Put it in and watch it increase like my 401k. I bought 50 shares of Microsoft and Disney.” tweet this quote “Unfortunately, adrenaline in the market will sometimes cost you money.” tweet this quote “I think the worst place to be in is not knowing what you don’t know and being overconfident in what you do know.” tweet this quote “I was trying to rush into the market because I thought the market was going to leave me behind if I didn’t jump in.” tweet this quote Links: Course: The Trading Freedom Pathway

This interview causes me to revert back to being a little boy again as I thought it was pretty cool to get to talk with a "real life helicopter pilot". Hopefully it isn't too apparent in the interview! Anyways, talking with trading community member Micah was a great time and one filled with numerous ups and downs (pun intended!) that create some valuable learning opportunities for new and old traders alike. Notes: Micah had some friends who were making money day trading. Considering they had taken no formal education, he is under the assumption they were just getting lucky. Micah did not experience the same luck. After seeing Clay’s YouTube chart analysis, Micah decided to invest in his education and stop live trading immediately. He did need to take a huge loss in a petroleum penny stock before he saw the light though. Micah focuses primarily on a basket of 20 stocks that have good movement and volume so that he can generally find something that is tradable. He is utilizing options to trade directionally instead of stock (which is generally much cheaper from a cash flow standpoint). A large focus going forward is reducing the size of his losses since they are doing a good amount of damage to his profits. Considering his busy season is coming up, Clay and Chezz deduce that possibly using advanced option strategies may help him reduce his downside by setting his max loss in advance. Quotes: “I was doing the headline trading and reading up on everything but couldn’t understand it and lost quite a bit of money.” tweet this quote “I needed to completely stop trading. This money would be better spent on some sort of education.” tweet this quote “Now I just cut my losses and look at it again. Maybe this charts just not doing what it’s suppose to do.” tweet this quote “As I take the classes and it opens new doors who knows, maybe I will be trading forex or futures. I’m happy with options.” tweet this quote Links: Course: Options Trading Simplified Course: Advanced Options Trading

I can totally relate to our guest, Delgado (same name in chat room), as he started on the same path I did. He first got involved in the markets doing the "boring" stuff by investing into blue chips, but like myself, he became fascinated even more with the market and wanted to get hands on. There is certainly nothing wrong at all with wanting to become more involved in your own money's growth; however, going down the wrong rabbit holes can lead to a world of headaches. Notes: Delgado’s introduction the market was somewhat similar to others. He had a teacher in school who would have the students pick 5 stocks each week and then see how it worked out the following week. He did open up a trading account with about $5,000 and invested in some relatively stable blue-chip dividend stocks. Even though he experienced success with his long term holdings, he had always aspired to be a day trader but didn’t know anything about technical analysis or methods to accomplish this goal. After a friend introduced him to technical analysis and options, he wanted to find a more reasonably priced location to learn. That is what led him to the Inner Circle. While he didn’t know what to expect when he joined, he quickly realized that the community had a no BS type approach and would always be straightforward and honest with him. Considering he wanted a place that wasn’t going to make false promises, he decided to dive in and join CTU. To this day, Delgado is still going through a few of the courses while focusing on a small basket of high option volume stocks. He still primarily trades TSLA. When you strictly focus on a small amount of names to learn how they act we call that getting ‘romantic’ with a ticker. Quotes: “When the market tanked in 2008, I was all about Warren Buffett and just long term investing.” tweet this quote “Instead of just getting out, I started to hope and wish. It was me being cocky thinking that this is easy.” tweet this quote “It blew my mind how much money I could lose in 5 minutes. I could feel the sweat running down my face.” tweet this quote “I learned patience. You don’t have to trade every day. Once I started trading, I felt like I always had to be in a trade.” tweet this quote “Arm yourself with a little bit of knowledge and your aim improves.” tweet this quote Links: Video: Getting Romantic with Options Trading

We've heard many different approaches to trade plans over the 50 plus episodes, but today's guest gives us something quite unique. Shawn ("dimliwitti" in chat room) talks about a fourth "trend" indicator that he likes to use, and it truly has an important place within his strategy. I've been tempted to give his approach a try because it does make a whole lot of sense; however, I have not made the leap as of yet. Shawn has been around the markets for a while, so there are all sorts of ups and downs to talk about, which as always creates many experiences that we can all learn from. Notes: Shawn’s grandfather managed portfolios for a living and really taught him how to manage an extensive sized portfolio. These were all longer term swing trades and had no short intraday trades. He relied heavily on fundamental analysis at this time. As time went on, Shawn recognized that there were many short term trade setups that he could recognize and the idea of quick profits really appealed to him so he tried his hand at active trading. This led to quite a sizeable loss and led him down the path to education. A very unique way that Shawn trades involves the use of fundamental analysis as a filter. He likes to find chart setups that are aligned with either a up trend in the fundamentals or a downtrend in the fundamentals. Shawn is a huge proponent of continuous education. He has already mapped out the path of what he is choosing to learn. Building upon what you already know is absolutely critical because the market is ever evolving. The moment you decide you have it all figured out will be the moment in which your performance begins to slip. Quotes: “My wife calms me down a lot with her good, conservative view of investing. It has saved me a number of times.” tweet this quote “I didn’t have all the tools yet. I latched into using trailing stops but that assumed I would be winning in the first place.” tweet this quote “I got in this trade by shorting in the last minute. I was watching a lot of silly people buying in so I shorted at the highest point I could.” tweet this quote “I have losing days. We all do. It happens. I’m not saying I’m an angel. Sometimes those voices takeover.” tweet this quote

We left you with quite the cliffhanger in episode 57, but the wait is over! We pick right back up with Shawn (same name in chat room) and her journey as she tells us about entering her first trade and then growing the account from there. Like Part 1, this second half of the interview is filled with just as many little nuggets of wisdom, if not more. Shawn gives a humble and heartfelt look into what worked for her, what didn't, and how she handled all the various scenarios. Notes: After doing some paper trading with actual pen and paper, Shawn realized that this would not be as easy as she initially thought. She realized if you practice your chart reading and practice your risk vs reward you will trade intelligently. Shawn had the courage to press on in her journey instead of quitting after losing money initially. She recognized her investment in herself and decided to narrow down the list of tickers she would start to watch continuously. Once she got her expectations in line (she just wanted to perform better than leaving the money in a savings account), her trading really started to take an immediate turn into profitability. After spending more time paper trading REALISTICALLY, Shawn then transitioned to live trades and just mimicked what she had been practicing. In her first month, Shawn went from $250 to over $1400 generally only taking one trade per day. As her profitable weeks increased, she allowed herself a little more buying power. This type of compounding coupled with sound risk vs reward led her to almost a 600% return in the first month. To ensure that she wasn’t experiencing fool's gold, Shawn then got a part time job at night to provide further relief knowing that she still has some stable income in the event this was all luck. This type of stress relief can make such a large difference in trading since the pressure of HAVING to make money every day is reduced. Since then, Shawn has now reached her goal of getting her account to $10,000 and she did it all herself. She is a shining example of what hard work and dedication can achieve in any aspect of life and we look forward to hearing about her continued success. Quotes: "I was expecting to double my money and to make rent in a day. I went back to training and remembered it’s about the charts.” tweet this quote “I have $700 dollars. On the paper side I had 100k. You don’t have enough money to trade the way I’ve been practicing.” tweet this quote “I made one trade a day. I waited for the market to do what I wanted to see from it. I mirrored what I did paper trading.” tweet this quote “After a month, my account was almost at 1,300. I gave myself a raise for my buying power on a weekly basis. That is how I built it.” tweet this quote “It was my goal to get to $10k. I did that by myself starting with $250 and now I don’t have to put all my money on the line at once.” tweet this quote Links Part 1: STR 058: She Turned $250 into Over $10,000. Here's How. (part 1)

This interview has been one of our most highly anticipated given so many members of the community are already aware of our guests inspirational story. Shawn (besides being our 2nd ever female guest) has also accomplished quite a feat. In the spirit of wanting to control risk, she started her journey with only $250. In a span of a few months, this $250 amount grew to over $10,000 (and at this point, is still growing). How did she do it? What steps did she take? It wasn't a smooth ride, but that's the beauty of her journey. Let's get started! Notes: Shawn’s introduction to the market was similar to many. The company she worked for allowed her to allocate where her 401k was allocated and since she saw that computers were the up and coming trend, that is where she placed her money. Needless to say, her 401k appreciated rapidly and she continued to contribute for some time. One of her friends was a trader/investor in the penny stock market. The catch about this is that Shawn has something called common sense! She realized what her friends were telling her about doubling or tripling her money sounded too good to be true. Eventually Shawn saw Clay’s Youtube videos that showcase technical analysis of some tickers that she had her money in. This intrigued her because Clay doesn’t tell anyone whether to buy or to sell. He just presents the facts that the chart is showing. After going through a few courses, there was enough proof that this wasn’t a scam and that the material pays off if you apply it correctly. This led Shawn to purchasing CTU because she wanted to go through the courses she hadn’t started yet. She was dead set on applying herself 100% and this was her proving it by investing in her education. Quotes: “I guess I didn’t know enough about trading at the time. I didn’t have enough black and white facts in front of me.” tweet this quote “I always wanted to invest in gold. I risked a whole $100 bucks. If I can make $200 bucks then there might be something to this.” tweet this quote “Now somebody is telling me where to put my money but how does that work for them? I was very wary. I wasn’t going to get suckered in.” tweet this quote “I didn’t expect to get rich, I just wanted something to happen with these penny stocks.” tweet this quote “I knew every hour I spent, I was one hour closer to pressing that buy and sell button.” tweet this quote

Expectations play a vital role to us as traders and investors. In all actuality, expectations are a normal part of everyday life; however, when it comes to the markets, they can lead to literal loss of money. Chat room member, Corey, explains to us how his entry into the markets was plagued by expectations that were not even close to reality. This causes him to go down many paths that lead to... well... unfavorable outcomes. All in all this was a great interview and one I'm happy to share with you all! Notes: While Corey had slight experiencing following stocks when he was younger, he did not get actively involved until he finished up school and started working. In 2009 he now had a 401k and some spare capital and recognized that the big market downturn was actually a buying opportunity and this led him to put some money in the market. Initially starting out value investing/swing trading, Corey started to get interested in more active trading. This led him to the free penny stock newsletters. The mind boggling part is that he did not partake in the marijuana penny stock boom at all. It was all names in other sectors. Corey does eventually close his positions and put some money into his education. His focus was on penny stocks but the important part is that he realized he needed to invest in himself. At the end of 2015, Corey joined CTU and has been working his way through the 400+ hours of content offered. He is still paper trading and solidifying a strategy before he puts his hard earned money back to work. He also paper trades in a hybrid way in the sense of he is live with 1 contract but paper trades 2 additional ones. This keeps him accountable and leaves his risk low. Quotes: “Wow. AIG traded at 400 dollars 6 months ago. Now it’s 40 cents. This is an opportunity to buy.” tweet this quote “I was at least expecting a double, a 100% gain. That’s what my expectation level was at the time.” tweet this quote “I really struggled buying something that I was fairly confident was going to come crashing down. I struggled going long.” tweet this quote “Sometimes I would time it right and do well. Other times I would time it wrong and not be disciplined.” tweet this quote

It's a line I struggle with quite often. Should I cross it or shouldn't I cross it? When it came to this episode's guest, Dave ("SuperDave" in the chat room), I assumed he could handle some tough love, so as he admits to in the interview, I called him out in the chat room. How'd he respond and what did he do from that point? We talk about that and much more in what I believe to be a fantastic discussion. Notes: Dave’s introduction to the market was similar to many others. He started getting interested in watching how his mutual funds were trading in his retirement account. Eventually he was driving himself nuts watching the value fluctuate daily so he went cold turkey for some time before revisiting the market. After seeing a coworker experience success trading short term options, Dave decided to continue his education via books to which he accumulated quite a library. Most of the books written about options are extremely complex and this led him to try to find other avenues to make his money in the market. Dave did invest in his education which is a HUGE step many new traders fail to take. Unfortunately, two of the ‘mentors’ he used ultimately did not help him very much. A majority of their income is from their monthly chat subscriptions. After trying to reverse engineer alerts from the Inner Circle, Dave continued investing in his education and started to get through some courses. While getting through the content, Dave was actively paper trading to see where he was weak in his trading and where he excelled. All of Dave’s paper trading lead him to find a winning system for himself. He has his set criteria that he looks for and after struggling with managing his risk vs reward he has now nailed that down too. He is a shining example of how consistent and deliberate practice can and will pay off in the long run. Quotes: “My general market overview was listening to the talking heads and sort of floundering around and guessing.” tweet this quote “I just bled slowly with small daily losses. Not seeing the patterns, not seeing the trends, not understanding movement of stocks.” tweet this quote “I posted that ‘holy crap that was scary’ and Clay called me out for trading too large and not knowing what I was doing.” tweet this quote “I spent all of last year paper trading and building a trading plan. I then took my live account from 500 to 1200.” tweet this quote

This guest is the youngest to get started in the markets. Thanks to parents that were open to showing him the power of the markets, Tony ("Tony Tan" in the chat room) began his journey at only age 13! He was feeling under the weather for this interview, but we appreciated him toughing it out and making it through the entire interview. Nice mental toughness Tony! Notes: Tony got his introduction the market at the young age of 12 after overhearing family members speaking about it. After finding some initial success trading based off of the talking heads on television, Tony took a short break and resumed trading his sophomore year in highschool. Tony tried to game the system by trading ex-dividend dates thinking he could make easy money buying before and selling after he collected the dividend. It only took him a few trades to realize that there are many computer models that already arbitrage this when available which led to him getting burned before changing strategy again. Eventually Tony joined the Inner Circle and tried to reverse engineer alerts to learn without spending any money on education. Tony recognized that there is no holy grail out there and is now keeping it simple. He has his timeframe and his methodology for entry and exits and this keeps his emotions out of the equation. Quotes: “I started trading in 2008. I opened up my first brokerage account when I was 13.” tweet this quote "After the ex-dividend date, the stock dropped 6 dollars so I cashed out on that and looked for a different strategy.” tweet this quote

A key aspect of trading success is realizing that it is a business. Because of this, you better be ready to step in as the CEO and operate it as such. Community member Joe ("JBH" in the chat room) gives us all a shining example of exactly what this looks like. He has built businesses before, and now he's in the business of trading and he's doing exactly what needs to be done. He's a great reason why I love doing these podcasts... he had me fired up and inspired by just how serious he treats all of this. There are way too many jokers out there that don't take trading seriously enough, only to complain "it's all rigged"... this is NOT the case with Joe! Notes: Joe had taken a long road trip to clear his head and when he arrived back home he realized that he did not want to start another company so the stock market would be his new income source. An EXTREMELY rare thing happened with Joe. He falls into one of the rarest categories because he did not do any live trading until he got educated first (which we usually never see). Since Joe has started multiple businesses from scratch he understands that any successful company requires lots of preparation, research, and overall hard work. He gave up the chase for quick riches a long time ago and recognizes anything of worth requires serious concentrated effort. Joe also realizes the importance of not lingering on previous losses and gains. After each trade it is important to learn as much as you can but remember, there are more trades to be made the next day and if you carry those previous trades with you they will certainly impact your performance. A strong trait to master is the ability to recognize your own strengths and weaknesses. Joe has identified those pesky voices that generally cause a trader to lose money and with that recognition he can see what is to be ignored and what is to be acted upon. Quotes: “I was googling, I was hash tagging. I’m kind of a nut when it comes to research. I was an investor, not a trader.” tweet this quote “Robotic Trading says it is not an emotional thing. That’s BS. If you’re a sore loser like me that’s an emotion. It’s hard to take that away.” tweet this quote “If I keep adding all these other indicators then I just cloud my judgement with more opportunities to screw up.” tweet this quote “You don’t need to risk a lot of capital to make a bit of money. The pendulum is swinging closer to gambling when you risk a lot.” tweet this quote “You have to have an exit strategy and not get too greedy with a loss or with a profit. Don’t ever think it’s going to bounce back.” tweet this quote Links: Video: Live Day Trade: How to Make $185 in 2 Minutes Video: Avoid the Pattern Day Trader Rules

As weird as it may sound from a logical perspective, making money can actually be one of the worst things to happen to someone new to the market. We sit down and talk with chat room member Dave ("TracknPennies") and he discusses some very insightful aspects of his journey... including of course how his early success turned out to be the "worst thing that could happen: he made $3,100". Why was this the case and where did his journey go from here? Sit back and enjoy. Notes: Dave’s introduction to the market came back while he was in high school in the 80s. About 15 years later he started to get re-interested and decided to start doing some research. Like many others, he didn’t want to outlay too much capital and this led him to penny stocks. The message boards and huge gains were extremely appealing considering the small amount of capital required. After having a few small wins and losses, Dave made a really good profit and now thought he had ‘figured it out.’ These thoughts always lead to prematurely sizing up. After having mixed success trading shorter term time frames, he started looking into the companies ‘stories’ and now swing trading them. On more than one occasion Dave was up $30,000 in unrealized profit but more often than not would end up only walking away with $5,000. The power of greed is something many people underestimate. Eventually after watching huge gains diminish to small gains or even losses, Dave decided that he was going to take some time off from the market. When he returned, he realized that he needed to invest in his education. The penny stock market eventually went lifeless and that is when he decided to learn how to use his technical analysis to trade options like many other traders in the community. Dave realizes that his risk vs. reward is not where it should be yet and that is his primary focus for 2016. Quotes: “When the economy took a dump the money wasn’t coming in like it had been. I had to start looking for other sources of income.” tweet this quote “The worst thing that could happen happened. I made $3100 in an hour. So now I’m a professional.” tweet this quote “The chart was screaming sell but I was drinking the Kool-Aid. I was up $30,000 and I still didn’t sell.” tweet this quote “You can lead a man to knowledge but you can’t make him think.” tweet this quote Links: Course: The Penny Stock Survival Guide Video: Live Day Trading Reality Check

We all have different amounts of motivation that we require in order to give us a "wake up" call, and in this case, it took a loss of 75% of their account. Thanks to his honesty and transparency, chat room member Chase gives us a fantastic look into his journey... including needing to lose the majority of his account before realizing and acknowledging he needed to make some changes. Chase has been around the community for a long time and is a asset to the community, so I'm excited to be able to have him share his story with the rest of us. Get ready! Note's Chase’s parents had purchased stock for him at a young age. He let these shares sit until he was an adult and somehow in passing he was reminded of this and started to investigate how he could make money in the stock market. After extensive research, Chase decided to join the Inner Circle because of the low cost. After spending some time in a few communities, he decided to stay here because of the environment. He however did not invest in his education at this point. While going through free content on the internet and giving him a sense of knowing the basics, he then would place trades from his phone in the bathroom before returning to work and then check on them again in 20-30 minutes. When Chase took his trading account from 2000 down to 500 dollars he realized he needed to spend more time investing in his education. He took 2-3 months to get through every single video and every course. He also rewatched multiple courses to hammer home the principles taught. Chase is a big believer in logging his trades via a trading journal. He writes down information concerning his mentality and attitude both before and after his trades. This detailed log provides a good amount of data for him to review when the market was closed. Without a real passion for the markets, it would be truly difficult to maintain the amount of practice and good habits that Chase exhibits. He understands that this is not a get rich quick scheme and recognizes that without consistent effort there is no way to succeed. Quotes: “I just wanted to have a really relaxed life. I hate the 9-5 jobs. I didn’t even know trading was a thing. I thought it was investing.” tweet this quote "The best way to describe penny stocks in general is just ‘a dump.’ When I got in there the big hype was Ebola.” tweet this quote “Instead of being on the momo train like I am doing now, I was just getting hit by it.” tweet this quote “My paper trading account is setup exactly like my live account. I’m still just focused on the process. tweet this quote

Where has the time gone? I swear it was just last week that I was sweating bullets awaiting doing the first ever interview... and here we are, now at episode 50! Chezz and I take a look back at the history of the show and discuss some common themes that have arisen time and time again. When multiple guests have made mention of the same general concepts, we figured it was worth taking note of and mentioning so that hopefully you can learn from multiple people's mistakes. Notes: In this episode, Clay and Chezz reflect over the past 50 episodes and touch on some recurring topics that are ‘rant’ worthy. This includes: What do you think about ticker XYZ? The importance of paper trading realistically. Growing a small account.Reluctance to invest in education and willingness to gamble ‘cautiously.’ Buy and sell alerts (which create dependency). There is no need to rush. The market will be there in the future. Quotes: “The more and more I learn about trading, the less and less I need anybody's opinion.” tweet this quote “If you can’t buy 10,000 shares when you go to real money, don’t go to 10,000 shares when you are paper trading.” tweet this quote “You are a CEO. What are you a CEO of? Your personal finances. You are in charge of you.” tweet this quote “You wouldn’t go to a doctor for heart surgery who says, ‘I googled some stuff. It’s cheaper than going to school.’” tweet this quote “There is a big difference between alerting something that is in-play and how to play it. We all have different risk tolerance.” tweet this quote “Just keep practicing because the market will be there tomorrow, in 6 months, in 6 years. Your financial capital is finite.” tweet this quote Links: Video: The Worst Possible Question To Ask Video: The Surgeons Dilemma

For some people, they need to grow up fast and get the ax to the grindstone right away. Our guest from the chat room, Ricky, fits that description perfectly. Due to some rough patches in his personal life when he was young, he was forced to grow up and become "the man of the house" very early in life. This personality dynamic has given a very interesting outlook on not only trading, but life in general. It was very refreshing to sit back and listen to someone who has been through a lot, but never made excuses for themselves. There is a lot to be learned from this experience. Notes: Like many of our guests, Ricky was introduced to the market via his economics class with a paper portfolio.’ Ricky was forced to be the man of the house at a very early age and this led him to find the drive to take his education and finances into his own hands and push forward into what interested him. While trying to accumulate education related to trading, Ricky realized very quickly that there is so much information spread out erratically across the internet. After frequenting lots of message boards and seeing the ‘poison’ of opinion, Ricky decided to invest in his education with his hard earned dollars. Ricky recognized that he is much better at taking logical trades on a higher timeframe. This gives the brain much longer to process and form plans that prevent you from taking a trade ‘on a whim’ or because you need the ‘action.’ With a set of criteria, Ricky is able to identify stocks that are aligned on multiple time frames and have momentum indicators showing an increase. He developed this system himself and the important part is that it works for him! Trading techniques certainly have an element of personal touch and what works for him may not works for others. Quotes: “I figured nobody is going to take care of my money the way I will.” tweet this quote “In life, it’s all about the process. It’s not about being right. It’s about doing it right.” tweet this quote “I need to see things move up and down and that’s why day trading for me isn’t my strong suit.” tweet this quote “Charts definitely can’t see the future. You can see the indecision, the strength at support or at resistance with good chart vision.” tweet this quote

We have almost done 50 episodes, but this interview is a first for both Chezz and I. Our guest, Tony ("elkhuntn" in the chat room), had his journey start by literally working for a penny stock company that was in the mining sector. Can you say "shady???" By getting an inside look at penny stocks, this gave Tony a very unique start to his journey which contains many twists and turns. It was an enjoyable interview that includes what I find to be very valuable nuggets of wisdom that can only be gained through experience. Notes: Tony worked for a very small mining company that was publicly traded and this is what led him to get interested in penny stocks. After losing a little bit of money, he decided to invest in his education and learned about penny stocks from Clay. After moving away from penny stocks, Tony hit some fools gold trading options right away but as most fools gold goes, he gave it back relatively fast. Even with some nice size gains on a few trades, just a few 100% losses in options completely wiped out his gains and then a majority of his account. Recognizing that he needed to focus on his strategy to emphasize consistency, Tony now has a set basket of options stocks he watches and utilizes the same setups over and over when he is able to be at the computer trading. Tony has time to trade in the morning before he starts work so he can focus on strictly day trading. With some self diagnoses, we determine that if he had only traded the morning session and skipped the rest of the day he would go from being red on the year to green. Less really is more in trading. Quotes: “Working at penny stock company, I pretty much quit trading penny stocks after better understanding how they worked.” tweet this quote “I have a hard time paper trading but if I take a really small positions I can at least be honest about it.” tweet this quote “I denied the losses at first. It didn’t slow me down like it should have. It should have been a red flag but it wasn’t.” tweet this quote “If I would just trade the first hour of the day, I would be green for the year.” tweet this quote Links: Course: The Penny Stock Survival Guide Video: About Pattern Day Trader Rules

At this point, hopefully I don't need to say much because you are already "in deep" with this member's journey and looking forward to hearing the conclusion. If you're not aware, this is Part 2 of our interview with chat room member "MR", so if you have not listened to Part 1, then be sure to go listen to Episode #46. Without further adieu, let's get right back into the action... Notes: When he arrived at the Inner Circle, MR was blasted for talking about fundamentals. His biggest use for a chart was to see where all time highs/lows were and if he was close. After going through CTU, he started to focus on smaller timeframe equities to apply what he just learned. This eventually led him to trading the futures market which meshed with MR’s appreciation and study of the overall market movements. MR went from a long term tech supply chain investor who used fundamentals to a trader who is capable of trading time frames as small as the 2 minutes. This is a shining example that if anyone is willing to put in the effort to learn how to trade with technical analysis they can do it. Quotes: “I’ve made trades where I made $1600 bucks. Well actually, we lost $200 bucks because it was $1800 in commission.” tweet this quote “In stocks, I see value there and I find it hard to short sell that value. But in the market indexes, I just see it as bulls and bears.” tweet this quote “As soon as you lose your plan and won’t admit your plan is going wrong, you’re going to lose it. You’ll get buried.” tweet this quote “Be realistic, don’t be greedy, stick to the plan, don’t listen to anyone but yourself and when the market isn’t safe, get out.” tweet this quote Links: Course: The Trading Freedom Pathway

This was supposed to be a single interview, but as we chatted and got sucked into the story, we had no other choice to be break it up into a two part interview. Chat room member "MR" breaks down his journey with us which is truly fascinating. He's been around for a long time and has seen multiple Bull and Bear markets, including some epic "bubble pops". This included oa "pop" that took his seven figure portfolio down to below zero... in other words, he owed his broker money! Get ready for a wild ride! Notes: At a young age, MR was able to witness his parents retire at a very young age and started to wonder how we would achieve a similar feat in his lifetime. After graduating high school and college, MR joined the same electrical union many of his family members were in. While working in the field for 5 years, he had accumulated a good amount of money as he continued to live a very frugal life. MR was put in touch with an accounts manager at a brokerage house and after much resistance from this person, he agreed to take on MR’s account. While MR ideally wanted to be very aggressive (considering he was a 25 year old), he decided to respect the manager's style of trading the market conservatively. To move toward something more aggressive, MR decided to open a smaller account at another firm and strictly focus on the supply chain for these major tech companies that were booming. Toward the end of the dot com bubble, MR suffered a huge portfolio swing which just about wiped him out. This has helped him recognize various topping patterns which serve as warning signs for him to close positions and stay in cash. MR went back to his roots and traded suppliers for various tech names and not only recouped his losses from earlier but took it to new all time highs. Quotes: “I asked my boss how he was going to retire. He said ‘the working man is a sucker. You gotta be in the stock market.’” tweet this quote “I really knew nothing about the stock market besides it was a way to retire early.” tweet this quote “I did not want to take the risk buying a ‘.com’ website. I wanted to be involved with their suppliers.” tweet this quote “This space was on fire and I had dollar signs in my eyes. I was margined heavily. Seven-figures margined.” tweet this quote “On December’s closing statement my account was over 7 figures then March 31st my statement was -20,000 dollars.” tweet this quote “People don’t understand how much of it is psychological. I believe I punished myself for all the people who got hit by not selling.” tweet this quote Links: Blog: Most Effective Order Entry Blog: How To Make $51,000 In A Single Day Guide: Futures, What are They and How Do I trade Them?

The marketing out there is crazy. Fancy cars, mansions, beautiful women, exotic vacations... all intended to fill your mind with how the stock market can give you a life of pure perfectness. This is all twisted to imply that with the right strategy or system, it all "happens quick". So, how does the get-rich-quick hidden promise play out in reality? That's what we discuss with chat room member Exploerer76 ("E76" for short). He started out with this mindset and has since ended up with a much different view. Let's connect all the dots in between.... Notes: Explorer76 didn’t get involved in trading until some of his coworkers told him that they were day trading during the work day (when it was slow). One of the members of Mike’s band was heavily involved in the financial market and he looked to him for advice. His advice was to put his money into no load mutual funds since he could self direct his retirement account. After some big changes in his life (both work and personally), that retirement account had to be purged so now Explorer had to start fresh and was looking for a way to get rich quick. After investigating many traders who promised ‘quick riches,’ he came to the realization that when it seems too good to be true it usually is. In 2015, some old accounts that were locked came back into Explorer’s possession and this would soon turn into his trading account (to which he was ready to apply his new found trading education). Instead of shooting for home runs, Mike is now trading advanced options and going for base hits over and over again with a high probability of success. Quotes: “Wow these day traders are so edgy! They’re taking chances and that was so cool. I wish I could do that but never did.” tweet this quote “I tried shorting the market but I couldn’t figure it out with the mutual funds. Ultimately, I just held what I originally had.” tweet this quote “I’m thankful I was smart enough to realize there are no shortcuts to learning how to trade stocks.” tweet this quote “What’s that saying? You’ll never plow a field if you only turn it over in your mind. I wanted to get in there with real money.” tweet this quote “Honestly, I look at the chart more than anything. I draw lines all over my charts and that’s how I start making decisions.” tweet this quote Links: Course: The Trading Freedom Pathway Here is a live video from that band playing a cover of a song from the band Killswitch Engage: youtube.com/watch?v=Eap1zTa8afI These are a couple live videos of the band I was in prior to the above band: youtube.com/watch?v=uuS5qDXfK3g - youtube.com/watch?v=4HogPZUlBzQ

It might sound a bit backwards, but "going small" in order to get "big results" is something that is overlooked in the world of trading all the time. Our guest, Chad (same name in chat room), explains this bizarre concept via the journey he has been on, and is currently still exploring. Although only being involved in the markets for a relatively short amount of time, Chad has already been through a lot and learned many valuable lessons which he graciously passes on to the listeners. Notes: Chad first got interested in trading after setting up a Roth IRA and decided that he wanted to make his riches with penny stocks. He did some googling for hot penny stocks and eventually found a list of high volume names and did his message board research to see what others thought would go up. After finding quick success in his first penny stock trade, his profits soon turned into losses and that’s when Chad decided he needed to learn more about technical analysis before he traded again. As he went through the courses, he was paper trading alongside of it (which we recommend). However, he was not using realistic trading size so this did not help him prepare for the live market when he decided to return. After a few rough trades when he went live, Clay helped Chad realize he could trade smaller than 100 share lots which still helps him get used to having money on the line (and deal with the voices that appear when money is on the line). Even though Chad is in the beginning stages of his journey now, he is taking steps to ensure he is forming good, consistent habits which will eventually turn into long term consistent gains. He, like many others, approached this as a way to get rich quick but was quickly humbled by the penny stock market. He knows what he excels at and where he is weak. With that knowledge he is capable of fixing the issues and improving. Quotes: “There was about 2 weeks where the stock doubled. I thought ‘this is going to be my new job.’ The next day it tanked.” tweet this quote “Here I am paper trading 1000 shares and making 2,600 dollars in a few minutes. It was very unrealistic.” tweet this quote “One of the things I’ve learned from you guys is to create good habits.” tweet this quote “Now when I take a loss it’s just like ‘okay, it broke support or resistance and I don’t want to be in it anymore." tweet this quote

Have you been here before? You place your buy order, it executes, and then down...down...down... the price goes. This is where our guest, Jules (same name in chat room), found himself during the early part of his trading journey. Wandering the world of penny stocks, Jules located himself a good ol' fashioned pump-and-dump to blindly buy. After this experience, Jules found himself needing to find a new way if he was going to survive in the world of trading. Where did he go from here? What has he learned so far? That and much more in our interview. Notes: Jules introduction to the market was based on someone he idolized in the professional Call of Duty scene that was talking about how well he was doing in marijuana penny stocks. After funding his account, he decided to follow trades from a known stock pumper on Twitter. Jules was just blindly puppet trading him in an effort to emulate the success of one of his idols that introduced him to the market. Jules went through Penny Stock Survival Guide in a very short time and after he completed that course, he closed out all of his penny stock trades leaving him with about 15% of his initial account left. After learning about options, Jules was swing trading advanced options making weekly income by selling out of the money spreads. These are Jules ‘set and forget’ trades (to which he now checks on daily to ensure they are acting how he would like). Jules recognized that his over confidence is something he needs to keep in check but by abiding by his trading rules, he is establishing good habits that can lead to long term success. Quotes: “I dropped 10,000 into an account and as soon as it was ready I jumped in headfirst.” tweet this quote “I literally bought the top. I bought the day it stopped moving up. It never moved up further than the point I bought it.” tweet this quote “You have a higher percent of profitability when you are selling options. You can profit in many different ways.” tweet this quote “My directional trading wasn’t good at the time. For the last 3 months I’ve been paper trading and it has helped a lot.” tweet this quote “When I take a loss, it’s just part of the game. I just move onto the next trade. Wipe it off and move on.” tweet this quote Links: Course The Penny Stock Survival Guide

The one thing that amazes me is despite the fact that many guests have had "wild journeys", there is always a unique little twist that people bring to the table. This show's guest, Jaime (goes by the same alias in the chat room) first got started trading mutual funds. A pretty bizarre thing, but an interesting way for sure to get him interested in trading in general. From there, Jaime made many pit stops along the way until now where he has arrived at BEING the casino in options trading. Notes: Jamie joined the Navy at a young age and they had him set up a retirement account. He had set the account to take 10% of his income every paycheck and didn’t check on it for years. After a few years he started to investigate various funds and attempted to catch the top and bottom of the line graphs for fun. It was only after he got in trouble for too many transfers that he once again let the retirement account sit. Seven years later, Jamie revisited the market after hearing coworkers talking about the marijuana penny stock boom. The interesting thing is that he didn’t actually trade penny stocks until a few years later. That phenomenon was just the catalyst that rekindled his market interest. After putting his entire account in the Facebook IPO, he stumbled upon Claytrader from a Youtube video and that led him to the education available to further his skills and become more proficient in technical analysis and trading. Jamie has found great success selling options premium on expiration Friday with 2 hours left in the session. To translate, Jamie is selling options to folks who are looking for large outlandish move at the end of the session. The probabilities are highly in his favor that a move that large will not happen and this leads him to capture the entire profit. Quotes: “I decided to see if I could find the top and find the bottom of these funds. After 2 months I got in trouble for too many transfers.” tweet this quote “I was using CNBC to scan and it would list the top losers for the day which I would then buy.” tweet this quote “I found that options premium in the first 15 minutes gets skyrocketed or drops out during that time.” tweet this quote “I wish I would have stuck with regular stocks instead of trying penny stocks. I wouldn’t have taken the time off from my losses.” tweet this quote Links: Podcast: Episode 34

Well... this episode may be ground breaking, or a total train wreck, but we're about to find out. ClayTrader.com has officially been active for two years now, so I wanted to try something different to celebrate this event. Chezz and I decided to bring back some past/former guests and just shoot the breeze and talk about whatever topics organically popped up. We talk about everything from hateful emails to trade management to favorite memories thus far about the community. We all had a great time doing this, so I hope you enjoy it as much as we did! Notes: In this episode we are celebrating the 2 year anniversary of Claytrader.com . We have RD, Nate Wilson, and Doc as guests this week and will be discussing various topics we encounter in trading. Topics discussed in this episode include: Passing blame upon someone else instead of owning up to your decisions and mistakes. Liquidity problems in penny stocks, stocks, and options. The addiction that we call trading and the pitfalls of overtrading (and how to avoid it). The importance of a trade plan. How low the barrier to entry is for trading and how that hurts new traders who are uneducated and treat it like gambling. Our favorite memories from the Inner Circle over the past 2 years. Quotes: “I think he was hoping for Clay to wave his magic wand and make his problems disappear.” tweet this quote “You can buy it. Someone will be happy to sell it to you but good luck trying to get out of it.” tweet this quote “For me, winning streaks is like crack cocaine. It just gets to where I can’t get enough of it.” tweet this quote “There is more to a trade plan than ‘I’m going to buy and it will be a swing trade.’ That’s not a trade plan.” tweet this quote “There are zero shortcuts in this game but it’s been the most fulfilling and challenging thing I’ve done in my entire life.” tweet this quote

There is one thing that stops many people dead in their tracks before they ever get started in the markets: FALSE assumptions. That was the case for today's guest, chat room member "Zep". For the longest time his mind created a faulty illusion about how the markets actually worked causing him to avoid getting involved. He finally was able to overcome this illusion and is now going strong in his journey as a trader. He has done quite a bit right in his journey so far, but like anyone who is being honest, he's also experienced some bumps. Notes: Zep was a musician on a cruise ship for quite a few years but came to realize that he wanted the ability to be more selective in choosing his gigs. He wanted to have a music job and a ‘numbers’ job. After joining Robinhood (commission free broker), we placed his first trade and made 3 dollars. This opened his eyes to take his finances into his own hands. He realized that it would be in his best interest to get educated so he dove straight into the courses from here. On a $10,000 account, he had grown his account to 23,000 in just a few trades. Zep was smart enough to realize that he might be losing control of his risk management and decided to scale back. Even while finding success relatively fast, Zep realizes that he is very fresh on his path to consistent profitability. He strives for perfection and this takes its toll on him when trades go against him but the more seat time he accumulates, the more comfortable he will become with his proper trade management habits. Quotes: “The market always seemed inaccessible to me. Like there was a barrier there or you needed a ton of money.” tweet this quote “I would be up until 8 in the morning studying, take a 20 minute nap and then wake up for market open to watch the action.” tweet this quote “If I would have just slept in, I would have been up 2 or 3 thousand dollars.” tweet this quote “Options will bite you fast. That’s the cool thing about them is you can make high percentages but the opposite is also true.” tweet this quote Links: Course: Robotic Trading Blog: The Most Effective Order Entry Breakout Chart Band: Older American Junk Band: KyleMenga.com

A common theme around these parts is the importance of risk management. Thanks to chat room member Jeremy's openness and honesty, we get a perfect real life example on why we preach risk management so much. Jeremy's account got off to a booming start as he grew it over 200%; however, in a matter of only one trade, he gave up all the gains and was right back to where he started. What did this teach him? Where did his journey go from here? That's what we learn about in this week's podcast. Notes: Jeremy’s introduction to the market was in 2012 when a financial advisor wanted to put his money in mutual funds. He decided that he would learn how find opportunities himself to generate larger returns. Being on a smaller account, Jeremy was trading lower priced names in an attempt to own more shares and generate larger returns. He also had a friend who turned 3k into 300k over a few years and this friend was the one who pointed out to him that he needed to expand his education first before diving headfirst into the market. He decided to puppet trade a biotech trader friend of his. While he grew his account from 2k to 6k, one bad trade took 66% of his account and put him back at even for the year. Since he decided to trade options, Jeremy is capable of trading much higher cost names for a drastically lower price and simultaneously manage his risk based on how he structures his option spread trading. Utilizing the advanced options techniques, Jeremy has found his place in the trading world to generate weekly profits based on probabilities while adhering to the agreement he made with his wife about not adding to the account. He is growing the account naturally based on a solid trading plan. Quotes: “I just realized that number 1, I cannot predict the stock market and number 2, you had to hold shares for a long time.” tweet this quote “We did a spit handshake agreement that I could not take any other funds from our account to add to my broker account.” tweet this quote “75-80% of my spreads expire worthless on Friday's and it has been awesome to do with a small trading account.” tweet this quote Links: Course: Advanced Options Trading

There are three words that many of us have experienced when first getting started in trading (well... at least I have), "this is easy." We make our first trade, it is profitable and we think that we have it all figured out. Chat room member Nate ("etan") tells us about this very relate-able start to his trading journey and where it has gone from there after reality smacked him in the face. Notes: Etan got his introduction to the stock market in high school while doing some paper trading for a finance class. After seeing the exponential nature of penny stocks from various message boards, Etan decided that he was going to park his money in a few very low cost names. Early in 2015, Etan did some investigating regarding options so that he could trade the larger names without putting up large amounts of capital. Realizing that he would need to be more consistent in his trading, Etan decided to invest in education to help solidify good trading practices. Etan decided to go back to paper trading and solidify his strategy and risk management before putting real money back on the line. The important part of this is that he is keeping his paper size realistic and inline with his real account size. Quotes: "After Ralph suggested I make my money work for me, I funded an eTrade account the following week.” tweet this quote “I had somewhat of a plan but I didn’t have the knowledge of why I should be buying here or selling here.” tweet this quote “This is easy I thought. The next week I was losing thousands of dollars each day.” tweet this quote “There is a lot that is involved in options. It’s not just pick a price and pick an exit. There is other stuff to take into account.” tweet this quote “Losses used to make me want to rip my heart out. Now I close my loser's quick.” tweet this quote

We've already interviewed a member from Denmark, for this interview we head south of the equator to chat with a member in Chile. Jose is an extremely successful business man, so I am honored he was willing to take time out of his day to tell us about his trading journey. I truly enjoy hearing from people who are successful in their own personal fields as they always bring fantastic perspectives based of previous experiences, and Jose does not disappoint. Notes: Jose had a friend who made some big money buying various names during multiple crises and this is what led him to get interested in the market. He set money aside and started his stock trading adventure. After finding limited success, Jose got interested in penny stocks and started to follow some newsletters for ‘hot stock picks.’ Jose stumbled upon ClayTrader based on an advertisement on the side of a stock message board. Technical analysis and the ability to read charts appealed to him and he wanted to learn more. While Jose still holds a full time job, he is applying what he has learned to a larger time frame and his trades generally take around four days. Quotes: “My strategy was buy and wait for a couple years and then this will turn into millions.” tweet this quote “I invested in 1 ticker. No stop loss, no risk management. I took a trip to Columbia for work and when I got off the plane it was all gone.” tweet this quote “I wanted to speed up my retirement but without a strategy it was all based on hope and luck.” tweet this quote “My biggest weakness is risk management. Managing my head and managing my heart.” tweet this quote “You don’t need to go to Harvard to make money in the market. You need to be focused. You need to study and be true to yourself.” tweet this quote Links: Video: 10000 Calorie Challenge

There is always a first, and that's what chatroom member "JC" gave us in this interview. Thanks to his brutal honesty, he let us know that he was at a pretty rough patch at the exact time we were conducting the interview. This was very unique in the sense that Chezz and I were able to give him some "real time" feedback and suggestions to help guide him through this rough spot in his journey. I am very thankful JC was honest enough to share this as it gave us all a chance to truly witness the realities of how trading is not always sunshine and rainbows. Notes: JC’s dad was the first person to introduce him to the market. Another interesting fact is that his dad was interested in penny stocks so that is where JC started also. Unfortunately, JC blew up his account in the first trade he took. He ended up going back to work and refunding an account after a few months to try his hand at the market one more time. JC decided to investigate into education options and found a well known source but after finding out that their package cost around 18 thousand dollars, he decided to look elsewhere and eventually found Clay. After going through some courses, JC decided he wanted to keep practicing during the evenings after work. This led him to get interested in the forex market since it trades for almost 24 hours a day, 5 days a week. While he works full time, he is finding where he fits in his swing trading. He has now traded equities, forex, and options. JC tells us an interesting story about an options trade that goes bad and what subsequently happened to his forex account. Quotes: “My dad said if you just buy sub-pennies they got nowhere to go but up.” tweet this quote “My very first trade and I dump my entire account into this ticker before it dumped. I was all in and it was all gone.” tweet this quote “You’re just some regular guys. You’re not some overwhelming power of Lamborghini stock traders that say ‘this is the way it is.’ “ tweet this quote “The reason I traded forex was because it traded 24 hours and I could actively practice. It was more of a practicing tool to me.” tweet this quote “I was so emotional I could not make a rational decision.” tweet this quote Links: http://investorshub.advfn.com/ClayTradercom-27618/

If you've listened to any of the podcasts before, you know a huge theme is always having a trade plan. Chatroom member, Matt (known as "Dirt Wolf"), gives what I would consider to be one of the better overviews of what it truly means to have a trade plan in place before putting any money at risk. For those of you trading penny stocks and wanting a better way, I'm confident Matt's perspective on this area of the market can open your eyes to other possibilities. Notes: Matt went to college to become a math teacher but soon realized a profession in the finance industry would better fit his personality. He was worried about not having enough capital to trade larger more well known names so he dove into penny stocks that had endorsement from various sports figures. Matt won the penny stock lottery. One of the tickers he was holding was taken over and rode the marijuana boom up exponentially. While he gave back about half his total gains, he finished with a healthy profit and decided to use the money to get educated in an effort to become consistent. After taking a break from trading, Matt decided he wanted to come back head first and accepted that this was going to be a lifelong journey, not a get rich quick scheme. Being well versed in options from his previous job, Matt now employs advanced options strategies which give him a much higher probability of profit. Quotes: “I didn’t really think I could trade the big board stocks. That’s why I got into the pennies. You could buy a ton of shares.” tweet this quote “I had a buddy who took out a line of credit on his house and put a couple hundred thousand into a ticker.” tweet this quote “I’m just counting all the dollar signs in my head, thinking about what I’m going to do with all my money.” tweet this quote “Options trading and technical analysis go hand in hand.” tweet this quote

For those of you who are members of the chat room, you've seen that our guest, Curtis, has been doing extremely well for himself. There have been some days that are flat are crazy (and I mean that in a good way!). Many have wanted to hear from Curtis, so that time has come! Unfortunately though, the "secret sauce" that Curtis shares with us is not going to be something that many people want to hear. While it is 110% honest/good/realistic advice, it is what I call the unpopular key to trading success. Notes: Curtis started trading by doing dollar cost averaging pre-1999. He was able to cash out for a nice gain from these strategies. Curtis knew an in-person pumper that would promote various penny stocks that himself and his coworkers would trade. He was fortunate enough to have a large life event happen that caused him to sell near the top of the run. After a 10 year break, Curtis was following an ex-trader who was able to retire at an early age and travel the world and decided he wanted to try his hand at the market one more time. While he tried to follow various traders and modify their techniques, the strategies they were employing did not fit with his personality and led him to lose money. After blowing up his account during a stock halt, Curtis decided to go back to paper trading and really find his strengths. He bought a good notebook and wrote down his daily trades for over 6 months before applying the same strategies to the live market. Curtis then started at half his paper size and slowly scaled up into the same size he was trading on paper. He now is confident in his methods and able to consistently generate more profits relative to losses. Quotes: “I had those dreams of mansions and everything but I was buying a house so I cashed out.” tweet quote “I would try to trade these ridiculous option spreads and there’s just no way unless it’s a freight train.” tweet quote “If I could automate it and backtest it, I could say ‘ok computer, go do it’ and not be in the way.” tweet quote “Your mind gets in the way all the time. I try not to do two things at once. I lose money when I try to.” tweet quote Links: Video: Stock Trading 101 – How to Paper Trade Video: How To Paper Trade With A Purpose

I'll be honest. I was a bit nervous to do this interview. I was big into playing sports in high school, and our guest from the chat room, Dan, is currently a college coach. As you will hear, Dan is an awesome guy who has a great perspective on life and who has been through quite a bit in his trading journey. I personally think he's being too hard on himself in regards to the awesome progress he has made, but I guess that's what you'd expect from a college coach who expects the absolute best from his players. Notes: Dan started to get involved in trading and investing while his son was in a finance class. He funded his account but unfortunately his son ultimately lost all the money in there. After not finding too much success in blue chip stocks, Dan started to focus on small cap stocks with lower share prices to control more. While Dan is still trying to determine if he is a better day trader or swing trader, he is starting to apply more focus to risk management techniques to improve his overall consistency and profitability. Options provided Dan the opportunity to trade higher ‘quality’ stocks that provide daily volatility. Dan is fully aware he is still on the journey to finding where he fits best in the market. That recognition alone puts him ahead of the curve by helping him realize that there is not just one way to make money in this market. We all have to find where the market meets our personality and risk tolerance. Quotes: "I thought I was going to be actively trading with stocks as an investment. Lesson, that doesn’t go together.” tweet this quote “I had to lay down on the floor after that trade because I was so nauseous.” tweet this quote “Without a plan you end up bouncing all around. I didn’t know if I was a day trader or swing trader.” tweet this quote “Trading without a plan was the number one problem I experienced.” tweet this quote “Paper. Trade. Learn what you are doing before you put your financial future at risk.” tweet this quote

I really enjoy today's interview due to the honesty portrayed in regards to the first impressions that were given from our trading community. Tony from the chat room originally showed up, and to be polite, really was not too fond of our trading group. To his credit, he did not give up on us and over time eventually realized that our group was not actually as nasty as he had originally thought. The amount of lessons that can be learned through this experience are some that can truly benefit you as an overall trader. What matters? What doesn't matter? What should you actually be focused on? We'll discuss all these key components of trading. Notes: Tony had a friend who found some success trading stocks and told him to contact him if he was ever interested. Fourteen years later, he started to get interested in the market as he started to have more income to use. Tony was under the impression that trading penny stocks was the key to real wealth. He joined a well known chat room, found a ticker, tried to do some fundamental research, and even went as far as buying the actual product. He was that drunk on the Kool-Aid! While he managed to make a nice gain on one ticker, he eventually lost it all slowly trying to trade other tickers. This is when he realized he needed to look into furthering his education. After going through a few courses Tony realized that there are many better choices instead of penny stocks. He started to paper trade options after his eyes were opened. As time has passed, Tony now understands the importance of risk management and that has really turned his trading around in regards to minimizing those losses and hanging onto those winners. Quotes: "This stock is legit. Their CEO is legit. I maxed out my account and bought all the shares I could.” tweet this quote "I was up 10k and I thought this was it. I imagined quitting my job the next day. Then it crashed back down.” tweet this quote “I bought some technical analysis book but they didn’t make too much sense to me.” tweet this quote “Every time I took a loss I thought to myself that this isn’t for me. It’s for someone with more patience and discipline.” tweet this quote Links: https://claytrader.com/videos/buy-sell-alerts/

I will be the first to admit, hearing anything about "needing to take a break" can be extremely annoying... especially when it pertains to something as fun and intriguing as the market. At times, the most annoying stuff is the most beneficial for you. Chat room member "Moppy" discusses his journey with us, in which a huge factor of how his now consistent success is due to stepping back and taking a break. Notes: Moppy’s grandfather made his money from buying and holding stocks. As Moppy aged he realized that there might be a better way. After going through a college textbook on trading, Moppy decided to use options to leverage his small amount of capital to hopefully make some large percent returns on what little he had. A few years later Moppy heard about the marijuana boom that was happening in penny stocks. While he missed this particular ‘boom’ he wanted to have an account funded for the next hot sector. Moppy blew up a few small accounts trading penny stocks and he eventually stumbled across ClayTrader. It was after this that he decided to take a break for 6 months and focus on education while he saved up to fund a new account. Quotes: “I jumped into options because I didn’t have a lot of money. I had a young family and not much money.” tweet this quote “I didn’t know how to plan my own trades so in essence, I was gambling.” tweet this quote “I just got my platform... flashy lights, pretty buttons. Had some money and thought this is it. I’m going to work it.” tweet this quote "It was either put money toward education or put money into the slot machine and I felt the education was a better value.” tweet this quote “I reduced my position size a bunch. I thought I was playing Texas Hold Em and go all-in and hope for the best.” tweet this quote

Out of all the members we've interviewed so far, I don't think we've talked to anyone who has had as good of timing as Adam ("Yountske" in the chat room) in terms of market timing. This is where the interesting part comes in... even with the impeccable timing, as you will hear about, Adam still struggled to make trading work. His journey truly goes to show that there is much more to trading than simply getting a good entry point. Notes: Yountske’s introduction to the market was in an investing class when they paper traded some tickers. He placed near the top of his class. After having some success bartering, he decided to open up a trading account and started trading penny stocks. He subscribed to some newsletters and picked one at random to trade. Yountske saw the potential for the marijuana boom prior to the actual pump of the sector. He became a walking/talking pumper adding to his profitable position on the way up. A well known twitter trade essentially scared him out of his position (for a nice gain). After achieving mixed results for multiple years, he joined the Inner Circle and eventually The Trading Freedom Pathway to help achieve more consistency in his trading. He also left penny stocks and moved to options to avoid the pattern day trading rules with a cash account. Quotes: “People were willing to take a loss and then I would turn it around into a gain for myself.” tweet this quote “Averaging down was just basically stupidity. I held for 2 years and then sold for around break even before it really ran.” tweet this quote “I basically become a walking/talking pumper. I was telling all my friends that they wouldn’t want to miss out.” tweet this quote “MJNA started to trickle down past my entry point. I was still living under the Warren Buffett model of ‘never take a loss.’ “ tweet this quote “It was just a constant up and down… make a bunch of money, lose a bunch of money.” tweet this quote

Chat room member Ricky (from Pittsburgh) has a journey that, if you're honest with yourself, I'm sure you can relate to in one particular way. That is, being a total innocent guppy at the beginning of his trading journey swimming in shark infested waters. There is nothing wrong at all with having a history of being a guppy, but the key question is, have you begun to transition into being a shark? Ricky has, and he tells us what he has been doing to transform his trading into that of a shark, rather than that of a dumb guppy. Notes: Ricky’s introduction to the market was in 2007 when his friend and himself witnessed an IPO skyrocket and they thought about how much money they could have made. When Ricky first began trading he was very good at cutting his losses immediately. As time went on and he was drinking the Kool-Aid of the tickers he was trading, he was more open to taking much larger losses by holding bad positions. After doing more research over the years, Ricky decided to join CTU. He saw folks finding success in liquid options that would prevent the liquidity trap that penny stocks present. Ricky has actually made more money flipping penny stocks vs. trading options, however, he continues to work toward finding consistency in options. Quotes: “I drove down to the Scottrade office to try to get shares for the next IPO. I didn’t even know there was a wait time for that.” tweet this quote “Everyone has an agenda. I have even been caught up in pumping stocks without even realizing it.” tweet this quote “I just started watching some charts. Took 2-3 weeks before I placed a trade. It was like starting over brand new.” tweet this quote Links: Video: Penny Stocks vs Options... Which Ones Better?

We've talked with over 25 traders thus far, but for one reason or another, we have never ventured into the world of ETF's. Thanks to chatroom member Mark ("Zman" is his alias), the podcast has now officially interviewed someone who specializes in ETF trading. Mark never planned on trading ETF's the way he is at this point in time, his journey started in a much different place, but after some bumpy roads, he's found success focusing on the ETF market. Notes: ZMan is one of our younger students who has been trading for less than 2 years. He originally planned to be a ‘buy and hold’ investor but became more active after his first trade. He began to check out various finance boards online to find where the Kool-Aid was. It only took a few occurrences for him to realize the importance of liquidity. ZMan was searching YouTube in an effort to learn more about trading and stumbled across ClayTrader. He enjoyed the short term trading he saw and decided to invest in his education. After going through some courses, ZMan was actually kicked out of another chat room because he called out some people for ‘pumping’ a stock that obviously in shambles. ZMan is currently trading leveraged ETFs that track commodities. He does strongly emphasize that this is not a product for beginners and we completely agree. Quotes: “I was familiar with GPRO’s CEO and I had the product. I liked it so I decided to park my money there.” tweet this quote "I decided I didn’t want to be puppet trading and I needed to learn how to fish for myself.” tweet this quote “Your parents tell you to dream all the time but a dream in the market will get your money taken.” tweet this quote “I look at all my losses as a learning experience. I just try to keep them small. Everyone’s going to have some losing trades.” tweet this quote Links: Video: The High Risk Of Free Education

We've talked to traders of all age ranges, but in this episode we hear from someone a bit younger in years. Chris (known as "cubs" in the chat room) tells us all the things he has already experienced in trading, along with what he has learned in what many would consider a relatively short amount of time. This includes turning $3,000 into $25,000 and then losing it all... ouch! That stings to just type that, but what has Cubs done since then to bounce back? The answer to that and much more, including what Cubs is currently doing to profit in the markets, in today's interview. Notes: Cubs got interested in the market during an economics class stock market picking game. While caddying as a summer job he saved up some money and bought 3 stocks to which he is still holding today. Once he got through school with a finance degree he joined a finance firm and has continued to buy good dividend stocks for his long term portfolio. During the pot stock boom, Cubs decided to gamble with some penny stocks and got very excited from the large returns. He took 3-4k to 25k before losing it all. He tried day trading while at his full time job but decided it wasn’t worth the risk of possibly losing his job. Cubs decided to take a swing trading approach after this attempt. Now Cubs is utilizing options to swing trade with an edge. He can take a neutral position and profit from the passing of time. Quotes: "I wasn’t using what I learned in college… it was more the gambler in me when trading penny stocks.” tweet this quote “I maybe lost a few hundred dollars day trading but it was just too much stress while working full time.” tweet this quote “I like being the casino and selling people sucker bets that have low probability of success.” tweet this quote Links: Course: Advanced Options Trading Strategies Explained

The much anticipated Part 2 of the "Paddy" interview is now here. The feedback for the first part has been extremely positive, and it's time to see where the journey now heads. The enthusiasm from Paddy does not dwindle in the least as he tells us about where his journey headed after locating ClayTrader.com. His first impressions of me are not the nicest, I will say that as a little spoiler - haha. Notes: Paddy discovered ClayTrader.com after coming across him on StockTwits. After comparing what Tim Sykes had to offer, Paddy decided to try the Inner Circle for 1 year. After 3 days in the community, he decided to join CTU. After testing the water for those few days he knew that he could benefit from the educational training. He went through almost all of the courses, got his computer all setup for trading and decided to ‘get romantic’ with AAPL for the future. He wanted to get to know the stock while applying his new found information acquired from the courses. Paddy has done a great job realizing his strengths and weaknesses. Hesitation, forcing trades, taking revenge trades has got him in trouble in the past but he has put those bad habits to bed. Quotes: “I knew what these indicators were for 10 years and in one weekend I finally understood what they were for.” tweet this quote “I don’t want to work for the man. I want to work for myself. The whole idea here is so I can get my freedom.” tweet this quote “Losses are part of the game. To not expect losses would be unreasonable.” tweet this quote “I used to think ‘go big or go home.’ I’m much better at managing my position size now.” tweet this quote Links: Link: ClayTrader Resources Video: Getting Romantic With Options Trading

I get short of breath just thinking about this interview. I promise I'm not exaggerating either, in fact, this was such a whirlwind of a journey that Chezz and I decided to divide it into two parts! Chat room member Patrick ("Paddy") delves into all the nooks and crannies of his journey, and with such enthusiasm, it was easy to just sit back and listen with enjoyment. It took us a while to get him to agree to be interviewed, but wow... thank goodness he finally agreed! We've heard some crazy journeys already, but this journey has plenty of twists and turns to make your head spin. Brace yourself... Notes: Paddy’s introduction to the market was his father’s reaction the 1987 stock market crash after he suffered a substantial loss. He began trading in 2005 puppet trading options via a trading educator he found multiple years prior. Throughout the next 9 years Paddy would find various ‘gurus’ to help find trade ideas. While he did find some success he gave back all his gains and more. That is when he realized he needed to get educated. Quotes: “I never traded penny stocks. Every advertisement for penny stocks was a typical, skeevy, snake oil salesman approach.” tweet this quote “I have no concept of positions size so I’m making 30, 40,000 dollar trades because I had 4x margin.” tweet this quote “By the end of 2014 I went from 153k to 107k at eTrade. Almost half of what I lost was in commissions.” tweet this quote

We heard it all the time as kids: "Stay away from drugs". As we discuss in our interview with chatroom member Jeff ("Doc"), if you are not careful, the stock market can act as the ultimate drug. While I understand this may sound dramatic, it is a dynamic that I can certainly relate to during the time when I was first getting into the markets. When you allow the markets to corrupt you like a drug, the decisions you make as a trader are not good for your trading health... sit back and enjoy yourself through a journey of some major ups and downs. Notes: Doc’s first introduction to the market was when he was 16 years old. He purchased 25 shares of PNC with money he earned from being a paperboy. He took substantial losses during the various market sell offs. While he was utilizing option strategies that had 66% probability to profit, that 66% started working against him. While he did invest in education, his old methodologies did not work in application. He became a CTU member, rewired his entire outlook on actively trading and is now bringing in consistent gains with his new found knowledge. Quotes: “I had no clue. I was jumping into stocks from the high dive. Little did I know that I was diving into cement instead of water.” “If I have a good paper trade I missed an opportunity to make money. So lets just go balls to the wall and make money.” “I was educated but I was educated wrong. And I needed somebody to reprogram my wires.” “I was driving down a road at 100 mph throwing handfuls of cash out the window. That was my trading life.”

It's easy to talk about success as a trader. Telling people about all the "ups" in a journey does not take courage. While success stories are without question motivating, hearing about the "dumb" things people do is where the true learning occurs. This is the focus of our discussion with chat room member Alex. I truly respect the transparency and courageousness Alex displayed in his candid talk with us. What are some of the major pitfalls in the markets? Where do the dangers lie? These are just a few of the things we discuss. Notes: During a lunch with some friends, Alex decided that he wanted to trade stocks for some additional income. He opened up an account the next week and started trading penny stocks. He took a break after getting bored trading tickers that didn’t have much liquidity/movement. He returned in 2013 to trade penny stocks once again. Alex continued to refill his account as he would deplete it. A friend approached Alex and let him trade his 30k account. He found early success trading the morning and then would lose it all and more by lunch time. He started trading options and while finding some fools gold at first was quickly wiped out in 1 trade. Alex decided to step back and invest in his education before coming back to the market. Quotes: “I got bored and quit in 2009. One day in 2013 I decided to just get back in the market.” tweet this quote “I rushed into things so bad. I didn’t stop playing penny stocks. I didn’t listen and learn from my previous experience.” tweet this quote “I had the desire to learn but I couldn’t get myself to step back and slow down with my trading.” tweet this quote “I wasn’t even counting how much I averaged down. I had a 10,000 share position and a $50,000 position.” tweet this quote “I lost 10,000 dollars of that man's money in one day. One day.” tweet this quote

John ("ESVA") has been a member from the very beginning. When I first started my service, he was one of the first people to sign up and has been a valuable asset to the community ever since. With 20 years experience in the markets, ESVA has been through many ups and downs, but one thing has remained constant... his never ending journey for continuing to improve himself and get better. From starting in the markets needing to call a broker to place a trade to now having excessive technology at his finger tips, this is a journey that is extremely interesting. Notes: ESVA (John)was introduced to stocks relatively early on in life through his father. Later in life he decided to revisit trading and investing and start his journey. He decided to try a penny stock picking service but decided to find other chat rooms and message boards after being involved in a few pump and dumps (and losing money in them). John was one of the first 300 people to join the Inner Circle and that is when he transitioned into trading small cap stucks (under 10$). Once Clay put out Options Trading Simplified, John decided to continue investing in his education and see how he could utilize smaller amounts of capital to amplify gains exponentially. Quotes: “In your early 20s you really don’t think about investing. You get away from it because you’re young and doing different things.” tweet this quote “Some traders told me you need to start learning, don’t trust anyone, and you need to do your homework. That was my turning point.” tweet this quote “You can have fun trading but you have to treat it like a business. Nobody wants to just throw their money out the door.” tweet this quote “Sometimes getting in at the lower price isn't better. It’s better to have the chart setup and pay a few cents more.” tweet this quote Links: Chat Room: Inner Circle

As someone who enjoys the topic of economics, it was a boatload of fun to interview "Arch_Steve" about his trading journey. Steve has a PhD in economics and is a college professor... in other words, a real life economist! With this being the case, "how" exactly does having a vast knowledge of economic markets translate into trading markets? Out of all the interviews so far, this interview truly gives a unique perspective on trading as a whole and what should be focused on. Notes: Steve has had an interest in markets economics from a very early age in high school. He decided to pursued a PhD in economics because of this interest later in life. He initially was a buy and hold investor to begin with and didn’t do too bad. It wasn’t until he had a large unrealized gain go back to zero that he recognized he needed to get educated to be better equipped to trade the markets. Steve now applies his technical knowledge to his swing trading and now has the independence needed to find stocks that he wants to trade instead of whatever the street thinks is a “hot pick.” Quotes: “If you’re an economist it doesn’t mean that you can manage money. I always had this pressure to learn the market.” “If there is no monetary gain on a gamble then your incentives will be tons different than when there is money on the line.” “The stock market will be there the next day and if you have the right tools you can play in any kind of market that’s out there.” Links: Course: Risk vs Reward Trading

Today we speak with a Viking. Yes, you read that right... a Viking! Our guest, "Norse", comes to us all the way from across the Atlantic Ocean in Norway. The interview and insight into this trader's journey is one I'm confident can provide inspiration via the many moments he jokes about having experienced. Buying when he should have been selling, selling when he should have been buying and many other amateur mistakes. Despite the pitfalls, Norse is now a full time trader mainly focusing in the Forex markets. He started in penny stocks, so how did he end up trading currencies full time? Listen and find out! Notes: Norse competed in the Norwegian Stock Trading Championship and this coincided with the booming penny stock marijuana bubble. He realized that with technical knowledge of charts, you are much more capable of making modest gains more often instead of always going for home runs in penny stocks. Norse became interested in the forex markets based on the recommendation from a friend. He is now trading full time and his success can be attributed to treating this as a business. He has set hours and hard data to look back on and ensure he is doing what is in his best interest to profit over the long term. Quotes: “I just went in and bought because I was going to be rich from this no matter what. I didn’t care. I just bought.” tweet this quote “Clay used fibs in one of his videos. That to me was like black magic and I thought I have to learn this. You can have an edge.” tweet this quote “Forex was a whole new environment. A chart is a chart but I treated it like it was something else.” tweet this quote “I took my losses personally. I was partially educated, I had a strategy, and couldn’t figure out how I could lose.” tweet this quote “Be more patient. Let the trade come to you. You can’t chase price because price will whip you in the face.” tweet this quote

We preach it all the time on the show. Trading is a business of hard work, NOT "get rich quick" despite how some conman out there market it. Our guest for this interview, Andrew ("Ava"), is a shining star of what hard work and dedication looks like. Better yet, he provides a perfect case study example of why "I don't have the time" is not a valid excuse. As you will learn, Ava is a busy guy with all sorts of stuff going on in his life, HOWEVER, he still makes time to better himself as a trader. I have little doubt this interview will motivate you to stop using silly excuses on "why" you haven't attempted trading or aren't being successful at it. Notes: Ava was involved in a workplace injury and found himself with time on his hands. He decided he wanted to put his money to work for him and invest in the stock market. When he began he would just follow whatever the most popularly talked about tickers were on iHub. He even went as far as trying to find individual stock pumpers that had a high success rate to find some trades. Ava has always treated trading as a business. He had no desire for excitement (realizing that this is not a casino). He wanted to learn to trade so he could build wealth and increase his income. His business approach led him to decide to get educated so that he was better equipped to deal with the market. Quotes: “I was trying to figure out how to get rich trading something only worth a penny.” tweet this quote “I was still really blind to what was going on. I hate losing money and that led me to purchasing courses on technical analysis.” tweet this quote “Averaging down, it’s a killer. The worst part is that it does work but that one time it doesn’t will take you to the woodshed.” tweet this quote “The gains from my options trades were so much larger than my straight up equity trades so it made sense to just trade options.” tweet this quote “You can make decent money scalping but you will make the majority of money off of those runners if you let them work for you.” tweet this quote Links: Video: Live Trades

Bad starts. If we're all being honest with ourselves, I'm sure we can relate to getting involved in something and then having things not go very well. That is the spot today's guest found himself in after attempting to get into the stock market. Chat room member, Nick, shares his experience of the tough start he had, but then, more importantly and inspiring, "what" he did to bounce back. As the saying goes, "it's not how to start, but how you finish" and Nick's story is very applicable to this. I was quite inspired by it. Nick got knocked down pretty hard, but he didn't let the beginning experience keep him down. Notes: Nick started with penny stocks based on what was popular on iHub. He thought it was a good idea based on the fact that it required a small amount of capital and people always talked about how extraordinary the gains could be. He had lost a good amount of money due to lack of liquidity and inability to sell out of his losers. Nick put in a few orders to close those positions and shut off his platform for a few years until he made his way back to trading in the winter of 2014. Nick ventured back into the market now armed with education. He found what strategies work best with his risk profile and personality. Treating trading as a business is certainly a requirement for long term success in the stock market. Quotes: “I started holding some bags at one point. Had a bad experience and quit trading for a few years until I came back December 2014.” tweet this quote “I was a little bit jaded. I kind of felt entitled to a 100% gain on every trade since that’s what happened with my first trade.” tweet this quote “I don’t look at any indicators. They are all lagging and are all derived from the chart unfolding in front of your eyes.” tweet this quote

I'm sure you've noticed: many stock trading sites out there like to focus on all the glitz and glamour areas of life. Sure, if you are trying to sell people products and services, why not turn your advertising into a late night infomercial? A sucker is born every minute. Today's guest, Alex, gives us the truth and realistic side of trading and the markets. Hard work. Trading is possible, but it doesn't happen overnight and Alex shares all the ups and downs of his current journey in a very open and honest way. Notes: Alex’s father used to look at the stock prices in the newspaper every Saturday and that was what sparked his initial interest. He did some light trading with a few friends in high school but completely stepped away from it after he graduated. His interest was sparked with the rise of the marijuana stock boom. After watching ClayTrader profit on almost a daily basis, Alex decided to invest in his education and stop the bleeding his account was suffering from. Quotes: “We took $300 we made from selling collectable cards and bought 3 shares of $AMZN with it. It was great.” tweet this quote “We would check the price everyday and it would go up a dollar then down a dollar. It wasn’t doing anything.” tweet this quote “60-70% would have a sudden jump up and I’d feel like I missed the boat. I wasn’t accounting for the gap up and trap.” tweet this quote “I spent my entire Christmas break going through every course. Especially RvR Trading. That one was revolutionary for me.” tweet this quote “I was getting paralysis by analysis. I was trying to find the holy grail but there is no holy grail.” tweet this quote “This isn’t a journey of money. This is a journey of emotions.” tweet this quote Links: Course: The Trading Freedom Pathway

When you decide to get into world of trading, it's important to take your time and go through the necessary steps; however, at the end of the day, you need to just do it! That's the attitude of our guest today, Pendar, and we'll learn how this attitude has both helped and hindered him in his journey. This is certainly a great outlook to have, but it can get you into trouble if it is not focused on the right paths as you will see. Sit back and enjoy the interview as we learn about the pros and cons of "just doing it." Notes: Pendar was driving under the Chicago Mercantile Exchange when the thought occurred to him that trading might be of interest to him. He jumped in headfirst and invested in his education. He got his feet wet right away and traded penny stocks before trying to trade options. Pendar employs various options strategies while utilizing the charts and the quantitative data to put all the factors in his favor for his trades. Quotes: “Trading to me was like another video game. Just to learn the ropes, click on all the buttons. That’s how I learn. Just do it.” "I never paper traded because it didn’t feel real. The real emotions just wouldn’t kick in.” “If you guys have any debt, you should not trade. Pay off your debt first, pay off your credit cards, and then trade.” “My stop loss was like a police officer right behind me telling me to pull over and I wanted to get away.”

Today we have a conversation with Stephan about his current goal to reinvent himself into a trader. Like the markets, life can take many unknown turns, and today we'll learn about how the Great Recession forced Stephan to reevaluate his situation from both a personal and financial perspective. At age 49, needing to pivot in life and do some reinventing probably is not the most preferable thing to do, but Stephan has jumped in with both feet in order to once again place him in a successful spot in life. Come with us on this wild ride which includes a very interesting dynamic regarding Stephan's wife and her field of employment. Notes: Stephen had worked with many large tech companies whose stock prices were growing exponentially. This was when he jumped in buying many well known tech companies. While riding up the tech bubble and riding it back down, Stephen had sat on a pretty large unrealized loss before taking his broker’s advice and unwinding his losing positions. He redeployed his remaining capital to launch a business which was very successful. The recession had a delayed onset and reduced his revenue by 50% when it eventually caught up. Stephen decided to get educated and approach the market once more but with full control of his portfolio (not using investment advisors). His initial interest was in penny stocks but he soon realized the benefits of trading options. Stephen’s support system was the Inner Circle as his spouse works in risk management and sees many traders who fail but she is slowly coming around after recognizing his risk management techniques. His recognition that trading needs to be treated as a business is a key element to takeaway from this podcast. That really is the key to longevity. Quotes: “I rode the tech bubble all the way up and rode it all the way down. I made big mistakes not taking profits when I should have.” tweet this quote “At the height of all this my account value was around 250k but of course I did not take any profits.” tweet this quote “I was at a crossroads. I had to reinvent myself once again. And at 49, that’s not ideal.” tweet this quote “I approached trading as a business. I wasn’t about to jump into something without getting educated and develop skills.” tweet this quote “I was making money but I wasn’t consistent. I was making all the rookie mistakes… not honoring stop losses, averaging down, etc.” tweet this quote “Don’t think that just because someone has a designation after their name that they know more than you.” tweet this quote Links: Course: The Trading Freedom Pathway Video: The Trade Plan Destroyer Video: Is Stock Trading Gambling?

We look at diversification in a slightly different way in today's interview. Our guest, Darren, operates his own business; however, due to realizing the need to create additional income streams for himself decided to venture into the world of the stock market and trading. Due to Darren's experience already with starting and running a business, he approached his trading career the same way. What did he do? How did he set-up his trading business? We learn about this and more. Notes: Darren owns his own business but quickly came to realize you are at the mercy of reliable employees to continually grow the business. He wanted to take some of that financial dependence into his own hands and opened a trading account. While Darren was not hesitant to invest in his education right away, the training he took did not include any technical analysis and because of this he was unable to develop consistent profits. He is now trading directional options and has focused on a select set of stocks to get intimate with while learning how they act to be able to capitalize on their moves daily. Darren would recommend that all new traders spend a healthy time practicing because with practice comes confidence in yourself and that is a strong attribute to have while trading. Quotes: “I did take an $8k extensive options course but it lacked the charting. Not knowing the charting made it too difficult to stick with.” tweet this quote “I look at the chat and then I look at the chart and then I make an educated analysis. Before I would just buy an alert.” tweet this quote “I used to think ‘it will come back’ when I was taking a loss. Now it’s just like hitting a pothole. You hit it and you move on.” tweet this quote “1. Get educated. 2. Practice that education. 3. Continue to practice until you are confident in your abilities.” tweet this quote Links: Video: The Trade Plan Destroyer Video: Getting Romantic With Options

While a very private individual, today's guest stepped out from the shadows to talk about his journey as a trader. "DS" takes us through first getting started, realizing he wasn't nearly as smart as he thought he was, and then hopping onto the true path of success: figuring out the "sweet spot" in his trading personality. We learn about the steps he had to take in order to construct a trading system that fit his personal risk tolerance profile and therefore allowed for trading consistency. There is a huge amount of great nuggets of information in today's interview, so you'll want to be sure to soak it all in. Notes: DS was invested in mutual funds for many years and after he semi-retired he decided to take control of his finances and decided to learn how to trade. He was struggling to realize why some of his trades wouldn’t follow through when he realized he was competing against other timeframes. DS recognized that everyone has their own trading parameters and comforts. He designed a strategy that fit his risk profile and provided comfort. There are many tools out there for traders to use but what matters is finding ones that work for you. Quotes: “I was looking for something larger than 100$ a day. I could win that on the golf course. The moves just weren't large enough.” tweet this quote “You’re not smart when you first start. You’re either lucky or run out of money until you figure out what works.” tweet this quote “It’s not like you are making money off the company. You are making money off someones inability to read a chart.” tweet this quote “When you lose 10k in a week multiple times you come to realize very quickly that you are not that damn smart.” tweet this quote “You may not have winning days everyday but if you have more green days than red you are able to grow it and retire.” tweet this quote Links: Course: Robotic Trading

Ambition is a great thing. Today's guest has three college degrees, so "ambitious" is probably not even a good enough word to describe her. With this being said, ambition in the world of trading can lead to some pain, and that's exactly what happened to today's guest, "Keisha." She came out of the gates blazing and quickly got into trading without really taking the proper steps, and as you will hear about, she got herself into some trouble. How did she react to this? What was her new plan of action? The answers to these questions and much more in today's episode. I hope you all take to heart what is being communicated within this interview about the pitfalls of going "too fast" compared with the benefits of "slowing down." Notes: Keshia got involved in the penny stock market while she was finished up her college education. She found InvestorsHub and started reading up on various tickers. One of her first trades took her account from $1,200 to $10,000 but greed had kept her from selling. She was determined to get educated and trade smarter after that gain had dwindled to $300. She studied for a minimum of 4 hours a day for months while she was preparing to get back into the stock market. Keshia understands that it takes time and effort to be successful. After stringing together multiple green and consistent months, Keshia is now at the point where she is starting to scale up her size in a slow and controlled manner. She is comfortable with her risk and without that comfort, your trading will certainly be uneasy. Quotes: “I enjoyed watching the level 2 and the candles form on the chart even though I didn’t understand everything they meant.” tweet this quote “My husband really wanted me to pursue the stock market. He really has been my biggest supporter.” tweet this quote “At first I was trying to use all the indicators and it was just too much. All of that is not really necessary.” tweet this quote “In school you are taught that you are right or wrong but with trading it is okay to take a controlled loss.” tweet this quote “If I allow a loser to get larger and larger, that’s a good way to blow up your account and I don’t want that happening.” tweet this quote “You’re better off investing in your education instead of relying on someone else to give you a hot stock pick.” tweet this quote Links: Course: The Trading Freedom Pathway

Winning 80% of the time does not mean you will make money. This valuable lesson comes to us thanks to the blunt honesty and transparency of today's guest, "ZenTrader". His highs and lows as a trader provide many situations that I'm confident many of you listeners will be able to relate to. While "talking wins" is certainly the more exciting topic and marketing point, today's discussion revolves around the importance of risk management... a much less attractive topic, but one of the utmost importance. Notes: Zen decided to take his tax return for the year and put it to work in the market. He was lured into the large gains penny stocks are known for making and decided to find some traders to follow. After finding initial success, he attempted to day trade and even with an 80% win rate, his losses were much larger than his wins and that is when he decided he needed to delve deeper into technical analysis. Zen found himself in a vicious circle of puppet trading others successfully and then taking losses when trading on his own. He would alternate between those two types of trading for some time before deciding to get educated. After listening to a recommendation to check out options, Zen spent time practicing and perfecting his methods to find what strategy works best for him. Quotes: “At one point I was looking at 24,000 from 2,000. I thought to myself, I don’t want 24,000 , I want 200,000.” tweet this quote “I would purchase at what I thought was a support then promptly watched it fall through. I then decided to stop trading blindly.” tweet this quote “I had a few successful trades and I didn’t need an education. I didn't need anyone to tell me what to do. I was a trader.” tweet this quote “Just using risk vs. reward and buying stuff when it makes sense seems to be working out a lot better for me.” tweet this quote "You can't learn how to be disciplined. You can't learn how not to be emotional. You have to train yourself to do that." tweet this quote Links: Course: Penny Stock Survival Guide Course: Options Trading Simplified Twitter: NJZenTrader

Today we talk with Justin, aka FreeFall909, and discuss a journey that I'm sure many people can relate to. After being inspired by a Hollywood movie about the stock market, Justin found himself in the Wild Wild West of penny stock trading and eventually turned himself into someone else's puppet. It was not until he got honest with himself that his journey was put on the bullish pathway. While Justin is not a professional trader or anything like that, his story is one that hits the heart and soul of the goal of this podcast: giving insight into the life of a normal guy who is on a quest to conquer the markets. Not only does honesty go a long way in normal life, but when it comes to trading, being honest is a critical piece to the puzzle as you will hear about in this episode. Notes: Justin was interested in the stock market at an early age and decided to get involved after the movie ‘Wolf of Wall Street’ came out. While he was able to find some penny stocks that moved, he was very inconsistent and gave back his earnings most times. He started to follow various people on Twitter and it was on one of those ‘plays’ that he took a significant loss and then decided to take some time off. After seeing people on InvestorsHub talk about technical analysis and charting and decided this would be something worth educating himself on. Justin is not rich and didn’t think he would ever be able to trade big board stocks but then learned about options and completely abandoned penny stocks to trade these larger name companies. While he doesn’t trade huge size, Justin’s winners are drastically larger than his losers and that is an attribute that can scale up to larger trading size in time. Quotes: “I didn’t really take out of it that penny stocks were scams. I thought that they were going to make me rich.” tweet this quote “I thought that any and all marijuana stocks were going to go to the moon. I wouldn’t even pull up a chart.” tweet this quote “I was just pumping the money in until I was at a pretty significant loss.” tweet this quote “I got the options course, realized I could actually play big board stocks and I knew it was going to work at that point.” tweet this quote “I’m trying to manage my risk more than I am trying to get huge gains.” tweet this quote “It’s nice to know now, even if I only make 15$, I actually knew what I was looking at and was rewarded.” tweet this quote Links: Course: Robotic Trading Course: Options Trading Simplified Videos: Live Trade Playlist

This episode's guest is a bit different compared to everyone else we've interviewed who trades with a day job. Nate Wilson (same name in the chat room) is successfully trading with a job, but that's not the unique part. He actually enjoys his job and has no ambitions of quitting it to trade full time. Nate trades for the enjoyment of it and to create supplemental income for his personal finances. I really enjoy this interview as it is a great example of how trading does not need to have the end goal of "I want to trade full time." When done right, trading stocks and options can simply be a solid source of additional income to your monthly budget, or as we call it "fun money." Notes: Nate’s introduction the market was a ‘friends and family’ plan for the Under Armour initial public offering. His background involves looking at companies financials and doing fundamental research. He applied this to his trading for 9 years before learning technical analysis. Nate then started trading penny stocks during the marijuana boom and found continued success. He hesitated taking profits but eventually realized he was riding a bubble and sold before the bottom fell out. After getting educated, he started trading too large to start and while he didnt suffer any large losses, his account wasn’t growing. Once he realized risk management was the issue, he corrected it and has been growing his account ever since. Nate honed his trading strategy to fit his full time work schedule and is now focused on building consistency while managing risk. Quotes: 10:30 “I didn’t even know what a candlestick chart was. I knew my broker had a line that went up or down with stock price.” tweet this quote 12:00 “I was up hundreds of percents and I was still holding thinking it was going to the moon until I took some courses.” tweet this quote 15:20 “I would read these penny stock 8-K’s and knowing how they look for real companies, I knew they were hogwash.” tweet this quote 17:00 “I got lucky through the pot stock stuff and didn’t take any huge losses. I probably didn’t make all I could have though.” tweet this quote 22:35 “I would make a good amount of money when I got it right and I’d lose a lot of money when I got it wrong.” tweet this quote 34:30 “I already watched stuff get out of control and I knew not let my losses get out of control.” tweet this quote Links: Course: The Penny Stock Survival Guide Video: How To Average Down Trade Ideas Twitter: @natewilson2

Chezz and I sit down with Steven King (same name in the chat room) and hear about one of the craziest stories to date. In fact, the story is so crazy that I asked for verifiable documentation to support some of the claims being made. Becoming a high school dropout after turning $900 into $40,000 is just the start to a journey that truly covers some highs and lows of trader emotion. Despite making some extremely large amounts of money, you'll be shocked to hear about the reality of the situation in terms of the emotions involved. Sit back and buckle your seat belt. This is one crazy ride journey with some very valuable insights and lesson's learned. Notes: Steven had a strong desire to get rich dating all the way back to his time in high school. He dropped out in 10th grade after finding initial trading success. He got caught up in the lifestyle that accompanies coming into large amounts of money and faced many struggles to get back on his feet. After spending more than half of his profits, the IRS sent him a bill for 170,000 dollars to which he did not have anymore. He took a job on an oil rig, was able to pay off that bill and started to get his life back on track. After he finished getting his college degree he began trading again and realized the benefits of options. You can get the exponential returns penny stock players are used to while simultaneously being able to control your risk up front. Steven recognized that he needed to approach trading like a business. He formed a plan and now he sticks to it wholeheartedly. Quotes: “I started with 900 dollars and after I turned that into 40k I decided that there wasn't a reason to keep going to school.” tweet this quote “Charts isn't the hard part in trading. The hard part is the emotions. It’s the mental mindset, risk management, all those pieces.” tweet this quote “The worst day that I ever had in my life was the day that I made the most money. 283k dollars in 1 day but no one to share it with.” tweet this quote "If you have trouble sleeping at night because you’re worrying about your positions, you’re not managing your size correctly.” tweet this quote “If you can count to ten, you can be an amazing trader.” tweet this quote “The important thing is ‘why are you trading.’ Today I trade because I want to help people. I want to become a philanthropist.” tweet this quote “It’s all written down just like a business plan because this is a business. If you’re going to trade you do it like a business.” tweet this quote Links: Video: The Trade Plan Destroyer Video: The Stock Trader Career Zapper Course: Robotic Trading Course: Risk Vs Reward Trading Course: Options Trading Simplified Twitter: @stevenhking

The passion this episode's guest has for succeeding as a trader is hard to rival. Ted Williams ("BigT") is a member of the 'early birds' group in the chat room as I've coined it - meaning, you can routinely find him in the chat room every morning before 6 am est. His story paints a true picture of how trading is an ongoing journey. After originally turning $300 into $20,000 on a single penny stock, BigT has continued to evolve as a trader in his quest to meeting his personal goals. Get ready to hear some of the best quotes I've heard yet from any guest. In fact, his advice he gives at the end of the podcast is priceless, and it is only two words. Notes: Ted first became interested in the markets as a hobby. His wife had many hobbies and he wanted to find something he could devote a good amount of time to. Before he learned how to trade options, BigT was trading penny stocks and he made an absolute killing on one of his trades. Ted then moved fully to the options market based on the vast amount of volume that exists compared to the penny stock world. He experimented with some ‘trading robots’ and quickly realized they were nothing more than a few glorified indicators. That’s when he decided to form his own trading plan. After trying advanced options strategies, Ted decided to focus strictly on directional plays and found much better success taking stocks both long and short. With time, experience, and education, BigT now is able to completely trust the chart and tune out his emotions. Quotes: “My wife had lots of hobbies and I had none. I had some extra money, started studying and in 2011 I made my first purchase.” tweet this quote “I turned a little over $300 into 20-something thousand dollars. It took like a year and a half but I was in it.” tweet this quote “I thought I was good. I thought I had the gift and could do that over and over again. In the end, it was fools gold.” tweet this quote “Because the money was so easy with NTEK, it became Monopoly money. It wasn’t real to me. I didn’t treat it with respect.” tweet this quote “When I wake up in the morning I’m looking at charts again. Am I green every day? No because I still fight with emotion.” tweet this quote “Before, when I’d be down, I’d almost have to see a grief counselor. Now, I see where I messed up and go onto the next trade.” tweet this quote Links: The Trading Freedom Pathway Twitter: tmw61165

In this episode, we interview full time trader Derek Chernault ("hokiez28") whose primary strategy is swing trading; however, also does some day trading to compliment his overall strategy. Like many traders (myself included), emotions were a major thorn in the side of Derek's early trading experiences. Learn how Derek was able to not only eliminate the emotions from this trading, but also build up the confidence in order to trade full time. Whether you are thinking about swing trading or day trading, this episode will give you a very realistic view into both of these strategies. Notes: Derek’s introduction to the stock market was based on a product he used to help him quit smoking. He put $4,000 into 2 penny stocks as a long term investment and then used another $1,000 for active day trading. Derek was completely content taking 30-50% gains but greed had started to set in after he watched a few run 1000%+. Once he realized his initial success was luck, he decided to invest in some trading education to help him approach the market from a skillful standpoint, not a lucky one. A huge turning point for Derek’s trading was moving out of penny stocks and into larger capitalization names because of the increase in liquidity. Derek’s biggest problem was managing his risk and once he applied it to his swing trading it really clicked. We discuss the misconception of the ‘holy grail’ with a combination of indicators. Derek suffered from paralysis by analysis and now trades the 2 king indicators… Price and volume. Quotes: “I was immediately intrigued by watching the value of my money go up and down but I wasn’t really trading. I was parking my money.” tweet this quote “I was happy with 30, 40, 50% profit. But then the greed started getting to me because I’d watch some go up 1,000%.” tweet this quote “Within 2 weeks that couple thousand dollar investment was worth 20k. But I didn’t sell a single share.” tweet this quote “That luck I had in the beginning had run out and I realized that I didn’t have any skill. It was all luck.” tweet this quote “That’s when things really turned around is when I got out of the penny stocks and moved onto the big boards.” tweet this quote “Early on I never wanted to take a loss. I would just keep holding and usually sell the very bottom.” tweet this quote “One of the biggest things I’ve learned in trading is that you have to accept that you are going to be wrong sometimes.” tweet this quote Links: Twitter: @hokiez28 investorshub Robotic Trading The Penny Stock Survival Guide Risk vs Reward Trading

When first getting started many traders find themselves in a situation with a smaller trading account. This leads to the common thought process of "I need to trade penny stocks in order to build up my account." Richard Davis (RDTrader12) discusses his experience with this same thought process and where it lead him in his journey. Spoiler alert... it was not to the land of riches and success. He learned some valuable lessons along the way and he is kind enough to share the experience with us. Are you currently under the impression that the "only" way to trade with smaller accounts is through small cap and penny stocks? If so, definitely set some time aside to listen to this interview. Notes: RD began trading as a puppet and was fortunate enough to find early success before giving it all back. After taking a few months off, he attempted to start paper trading but fell into the trap of hindsight before realizing the issue. RD decided to invest in his education as a final attempt to become profitable and once he developed a trade plan his account started to skew positively. A big stumbling block for RD was the amount of risk he took on and once he corrected that he developed much more confidence in his long term trading ability. RD abandoned penny stocks as the volume dried up and now trades options fully. Quotes: “Within the first month of trading, that 2000 dollars evaporated to about 550 and not quite understanding how it happened.” tweet this quote “There is a right way to do this, and I know this because people make a living and I have to figure out what that is.” tweet this quote “Now, if I have a loser, I don’t even blink an eye because I understand what my max loss can be.” tweet this quote “You’re going to have losers. When you accept that/learn how to handle those it will just put you that much farther ahead.” tweet this quote “I really had to back down my entry size almost to the point where I didn’t care. I just had to practice.” tweet this quote Links: Clay's Story Video: How to Avoid the Pattern Day Trader Rule Video: Getting Romantic With Options Trading

Dennis Campbell ("GatorDC") gives great insight into the life of a trader who trades stocks and options while managing a full time job. Given the nature of trading, it is extremely hard to simply "become" a full time trader from the start, so having a full time job while trading is extremely common. We learn about what has worked, what hasn't worked, and what strategies and systems "Gator" has put into place in order to help make his profits as consistent and efficient as possible. If you are someone who has inspirations to being a full time trader, yet still has to deal with the "day job", don't miss this very informative (and of course, "realistic") interview! Notes: Dennis got his first taste of the market in the 2008 recession, made 100% on his few trades and took a break for 5 years. Even with early success trading, his main focus at the time was on his career. Gator approached his trading as a business instead of a hobby and decided to get educated first before putting money on the line. Throughout his full time trading he continued to invest in his education and that really helped him develop his own strategy. With time and experience, Dennis was able to reduce his emotional response to gains or losses to almost zero because he had a plan and trusted his trading system. Gator moved to trading options about 85% of the time based on the lower capital outlay required and the risk established up front. Now having a full time job, Dennis went from worrying about using a mobile platform to being the most comfortable using it strictly. Many traders with full time jobs utilize conditional orders and trailing stops to allow the platform to manage the trade for them if they need to step away for work. Gator came to the realization that discipline is a huge part of trading and worked on that heavily right from the beginning. Quotes: “I realized I wasn’t educated and stayed away from the market because I knew the professionals would run me right over” tweet this quote “I liked the idea of being emotionless and a fully technical trader. I just wanted to trade the chart.” tweet this quote “I studied for a month before putting on a trade. I wanted to figure out what my trading style was.” tweet this quote “I knew in the back of my mind that I needed to educate myself before I went into a business where there were other professional traders. tweet this quote “My trading was mixed to start. I went through Robotic Trading 4 or 5 times to pound into my head what I needed to know. Once I was in the trade, I didn’t really have a plan.” tweet this quote “If I see the candles making certain shapes and patterns, I need to know whether that’s good for the offense (bulls) or good for the defense (bears). In learning one side of the trade, you learn what the other side doesn’t want to see.” tweet this quote “I realized emotions and psychology were a big part of trading. Looking at the psychology side of it, I tried my best to not get overly emotional about either gains or losses. It was hard to do.” tweet this quote “Probably 75% of my trades that were really big losers were because I failed to follow my rules. At some point I had to put my foot down and say, “If I’m going to do dumb things, I need to be punished by putting myself in timeout.” tweet this quote “I did not like having a lot of money out there on the table. I liked the lower capital outlay using options while still using my strategy.” tweet this quote “Going long on a stock is like walking up the stairs of a slide and being short is like going down a slide, and that’s the fun part.” tweet this quote “One of the stages you will go through as a trader includes buying the top and then it will go against you and you will sell the bottom.” tweet this quote “At the end of the day when I put on a trade, I have a strategy and I have a plan. Whether that trade makes a profit or a loss, when I follow that plan, it is a successful trade.” tweet this quote Links thinkorswim Robotic Trading Penny Stock Survival Guide RvR Trading Trampoline Trading Shorting for Profit Episode #002 (h00ch)

In this episode we discuss a topic that is near the top of the most frequently asked questions when it comes to trading. Whether it be stocks, options, Forex, etc., many people want to know if their personal computer set-up is sufficient enough to get the job done in an efficient manner. In reality, this topic is actually quite tricky. How so? There is a balancing act that must take place in the sense of you don't want to spend "too much" of your trading capital on a system that is more than you need; however, at the same time, you don't want to spend "too little" on a system that won't allow you to trade to your full potential. Chezz and myself have a free flowing discussion with Nate, the "geek" who works behind the scenes at ClayTrader.com, about this balancing act and other "techie" areas within the world of financial markets and trading. Notes: Clay started trading on a one-monitor setup during college. Your motherboard is the foundation of your trading computer. This will determine if you are capable of expanding in the future. Memory is a cheap and easy way to improve your computers multi-tasking once you start maxing out your current setup. Video cards are going to determine how many monitors your computer can run. There are a few routes you can take regarding initial setup or expansion. Benefits of a solid-state drive for your trading computer versus a traditional hard-disk drive. Any modern operating system will suit your trading machine assuming it has up-to-date support. USB monitors are great for those who travel and need to be portable. It is not the best option for those who trade at a desk. Quotes: “The processor and motherboard are going to be the main heart and soul of your computer.” tweet this quote “I think two monitors is the sweet spot especially if you are just getting started in trading.” tweet this quote “Dockable laptops are great because they are designed to be used at a desk with lots of monitors.” tweet this quote “People who trade on-the-go tend to favor brokers with great mobile apps.” tweet this quote Links: Build The Best Stock Trading Computer for Your Money 6 Multi Monitor Stock Trading Laptop Setups NVidia NVS Graphics Cards ClayTrader Resources ClayTrader Contact Nates Twitter: donky353

While certainly not the greatest "thing" from a marketing sales pitch perspective, the story of Dave Purnell ("h00ch") is one that is both extremely inspiring AND very humbling in regards to this business not being a "get rich overnight" type deal (as so many portray it to be). In this interview we learn about the 15 year journey that took him from the .com bubble, to penny stocks, to his trading career turning point, to options... where he now truly flourishes. In fact, below you can see a screen shot from the trading in his "small account" (he has 2 accounts he uses) on the day we recorded this podcast. Notes: Hooch had 0 interest in the stock market until he took a job at the bank in 1996. Riding the tech boom up and down by puppet trading and throwing darts. From 1997 to 2004 Hooch was in the market taking huge swings before he decided to hang up his gloves. In 2008 Hooch met a technical trader at work and that sparked his interest to get back in the market. He was trading based off daily and weekly charts, occasionally the 60 minute. Hooch’s job loss was unexpected in 2011 and unfortunately there were not many job opportunities in his field. Hooch discovered iHub message boards and ClayTrader when he was getting involved in penny stocks. After taking a substantial loss, Hooch learned the lesson to never invest in penny stocks. After trading on and off for 12 years, he funded a $1,000 options account just to limit his risk since he was new to them. Hooch discusses the importance of not taking losses personal. If Hooch could go back and give himself one piece of advice it would be to get educated and practice practice practice. Quotes: “You could buy any ticker that had a website and you were pretty much guaranteed a 200% gain” tweet this quote “I turned 5 or 10 thousand into over 100 thousand and of course I didn’t take any profit.” tweet this quote “It was more like a hobby for me. I wasn’t putting too much on the line so that it wouldn't affect my retirement plan or anything like that.” tweet this quote “I just didn't have the discipline to trust the chart and do what I was suppose to do. If it fell through support I’d wait for the next support for it to bounce.” tweet this quote “I did start looking into day trading and basically just taking the same bad habits and doing it on a lower time frame.” tweet this quote “I was finding myself being in the green more often but taking huge swings. I didn’t have the consistency.” tweet this quote “I was involved in more pumps than dumps and then eventually the dumps starting biting me.” tweet this quote “When it comes down to it (trading equities vs. options) you’re just trading the chart, just like anything else.” tweet this quote “You have to find what suits you and what you’re comfortable with and really stick with it. Don’t get overconfident and raise your risk.” tweet this quote “It’s better to start all your good habits up front because it’s a lot easier to learn something correctly right off the bat than to unlearn bad habits.” tweet this quote Links: Risk vs Reward Trading twitter.com/h00ch71

Today on The Stock Trading Reality Podcast I am excited to introduce my new show. I give a quick history of my idea behind the show and how it has now come to fruition. I also introduce my partner in this journey, who will be co-hosting, "Chezz". This is someone I have had a close eye on ever since he joined my private trading group almost a year ago. Michael Chesna ("Chezz") took the traditional route in his younger years of life. High school, college, and then eventually dead-end job. In 2014, he decided to take things into his own hands and determined the financial markets were a great way to do this. His journey began trading with bitcoin and penny stocks. After learning many valuable lessons along the way, he has now settled on weekly options trading. Stubbornness and persistence have kept him alive during the tough times most new traders face. In This Episode... ClayTrader discusses his background and introduction to the stock market. We discuss the purpose of the podcast. Chezz shares his pre-trading life from working in middle-management to moving across the country. How trading requires creativity to find what works for you. Chezz talks about drinking the Bitcoin and penny stock kool-aid. Making false assumtions about trading being too difficult. How a huge loss pushed Chezz towards education. Chezz talks about his ah-ha moment regarding charting and embracing the herd mentality. The importance of support systems and how they are vital when begining your traing journey. Tweetable Quotes: “You need to get creative. You need to figure out what works in your mind for personal risk tolerance.” tweet this quote “I thought I was going to go full-time with Bitcoin” tweet this quote “Stubbornness and resilience are two things you need in any type of venture in life. You can’t just be discouraged at every dip.” tweet this quote “Candlestick charts are just a history of human emotion. That was the light bulb that went off in my head.” tweet this quote “Trading will push you to your absolute highs and push you to your absolute lows.” tweet this quote “This is a marathon. This is not a sprint. This is not a race to quick riches.” tweet this quote Links: More About Clay Stock Trading Quick Tip – The Trader Death Trap Connect With Chezz Twitter E-Mail Phone