Listen Now

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!