The Stock Trading Reality Podcast

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!