The Stock Trading Reality Podcast show

The Stock Trading Reality Podcast

Summary: Thanks for checking out the ClayTrader Stock Trading Reality Podcast. Our show, hosted by ClayTrader, is designed to motivate and inspire traders of all experience levels. We interview REAL traders, discuss their trading journey, and lessons they learned along the way, both positive and negative.

Podcasts:

 A 20 Year Old Australian Tells His Story! | STR 372 | File Type: audio/mpeg | Duration: 01:17:17

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!

 These 4 Words Cost Me $3,200 | STR 371 | File Type: audio/mpeg | Duration: 01:26:15

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!

 Progressing in the Right Direction! | STR 370 | File Type: audio/mpeg | Duration: 01:10:26

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!

 Bringing Military Wisdom to Trading | STR 369 | File Type: audio/mpeg | Duration: 01:25:40

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!

 He Had Just Lost $23,000.. Now What? | STR 368 | File Type: audio/mpeg | Duration: 01:21:19

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!

 Starting Off Dirt Poor | STR 367 | File Type: audio/mpeg | Duration: 01:19:21

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!

 Don’t Fall Into This Tax Trap | STR 366 | File Type: audio/mpeg | Duration: 01:13:13

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!

 Trying to Be a Good Trader (and Dad) All at Once! | STR 365 | File Type: audio/mpeg | Duration: 01:20:54

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!

 Battling the Mental Game | STR 364 | File Type: audio/mpeg | Duration: 01:18:08

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!

 Take a Loss to Understand a Loss | STR 363 | File Type: audio/mpeg | Duration: 01:26:49

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!

 Being Brutally Honest With Yourself | STR 362 | File Type: audio/mpeg | Duration: 01:24:24

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!

 Buy the Dip? Don’t Use this Logic | STR 361 | File Type: audio/mpeg | Duration: 00:17:50

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.

 He’s Been in Russia Since 2002 | STR 360 | File Type: audio/mpeg | Duration: 01:24:24

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!

 He’s Been in Russia Since 2002 | STR 360 | File Type: audio/mpeg | Duration: 01:38:27

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!

 A Stock Broker Turned Trader | STR 359 | File Type: audio/mpeg | Duration: 01:12:16

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!

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