The Stock Trading Reality Podcast

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

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

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

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

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

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

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

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

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

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