The Stock Trading Reality Podcast

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!