The Stock Trading Reality Podcast

I'm pretty sure there is no one better prepared to become a trader than those who have military experience. In this day and age where people too easily get their feelings hurt, it's nice to be able to be blunt with someone and have them simply say, "thanks". If you are newer to the markets and looking at what it takes to actually be a good "learner", then look no further. My guest, Chad ('iamavol' in chatroom) has a military background and this has served him well so far. He's not trading with any huge amounts of money, but he's doing things the right way. He is starting small and then building from that point by focusing on good habits and scaling. Chad's certainly done some boneheaded mistakes as he'll discuss, and thanks to his openness, there are some great learning opportunities for us all.

This discussion is why I have a very hard time finding pity for people who seem to throw out excuses like candy. When you have a passion and drive for something, much is possible even when you may have many other "things" occurring. Community member Harmon tells us about his journey so far and how he's been able to get involved in the markets even while being a college student (along with a whole lot more). He had some misjudgments at the start of the journey that we talk about, but that's normal... the key is acknowledging them and then making adjustments. What adjustments needed to be made? How is his newly started live trading going? We talk about that and much more!

I'll be the first to admit the markets are an awesome place with oh so much potential and opportunity! The problem with this fact is it causes way too many people to rush in and get slaughtered. While there is no such thing as a perfect entry into the market, my guest from the community, Ken ('gaingreen' in the chatroom), walks us through his journey thus far. We once again have another encounter with Robinhood and how in all actuality, they're quite the savage company. Ken learned some valuable lessons upfront and has since gone about his approach to the markets and learning in a much more methodical way. I really enjoyed Ken's perspective on the markets (and life in general) and I'm sure you will too!

Have you ever done anything that when you look back on it in hindsight all you can say is, "what was I thinking?!?!"... I know I have! The financial markets truly are an amazing place filled with opportunity in almost all directions. The problem is, when you are new and ambitious... the ambition will be used against you in ways that make money for other people. My guest from the community, Kevin, talks all about his starting days with the "trading" app Robinhood and how it turned into a meat grinder of his money. Needless to say, it was a very rough start; however, to Kevin's credit he has not given up and has now put a new plan into motion. As the saying goes, it's not how you start, but how you finish and Kevin is well on his way to finishing strong. Let's get to it!

I'm aware. The title of this episode may seem like clickbait. I mean, how could making $500 be attributed to ruining someone's mind? It would seem that making money is a good thing; however, in this case it was the absolute worst result that could have happened. My guest, Jacob ("farmerj" in the chatroom), takes us through a very crazy journey that as one point reached him only being happy if he made $1,000 per day. How can someone reach this point? All I can say is the human mind is a crazy place and if you're not aware of the games it can play with you, you are at risk. His journey has been a wild ride and I enjoyed hearing about every minute of it (and so will you!). Let's get to it!

If I lost it all and had $0 to my name and needed to start all over… what would I do? There is a huge opportunity out there right now that could make you up to (maybe more) $65 per hour. Let’s talk about it.

Is this you? You have a smaller account and want to get started trading the markets. Because of the annoying pattern day trader rule (PDT) and the fact you have a smaller account, you automatically assume you need to focus on small caps (penny stocks) in order to have a chance at success. While there was a lot of truth to this in past years, due to some recent changes in the futures market, this thought process is no longer valid. My guest from the community, Heath, discusses his trading journey that walks us through this exact thought process and journey. Heath was very transparent about his journey and the headaches he has gone through in order to get to where he is now... a much more viable place to actually find trading consistency. This is a discussion filled with goodies so let's get to it!

Warren Buffet’s secretary pays higher taxes than he does? Have you ever heard this before? I know I have. There was just a newly released proposal to address this issue and I want to take a deeper look into how all this works. It may surprise you (sarcasm font), but politicians on both sides of the aisle misrepresent issues and how they “actually” work. What does any of this have to do with trading? Well… in all actuality, this is a topic and proposal that directly affects us all as traders in the market. In fact, I can’t think of another issue out there that more directly “hits home” than this potential policy. I’m not here to side with one opinion over another, but I do believe it is an issue that all of us in the markets should fully understand and be able to explain to someone else. Let’s take a look at this…

Solutions. Problems are easy to find and focus on, but solutions…. that is where the real magic happens. The issue with solutions is sometimes they are not pleasant or want to admit needs to be focused on. However, as you’re about to see with our guest in this episode, if you just suck it up and do what needs to be done, the results can increase your pathway to success that much quicker. I welcome back longtime member Tony (chatroom alias ‘TWDT’) and while we do talk about his trading journey, we also talk extensively about how he decided to focus on other “things” that while are not the most exciting, they are extremely beneficial within all walks of life. This is one of those interviews where it may seem “off topic” on the surface, but for many of you (if you’re honest with yourself), I have a sneaky suspicion it may be the exact solution you should be throwing all your energy behind (for the time being). Let’s get to it!

I have no idea if this “emotion” is something all people have, but it’s something I can totally relate with. That feeling being the desire to want to “accomplish something”. It’s hard to assign an exact definition to it, but at the core, it comes from the desire of achievement. Again, I can’t speak for everyone, but those of us who are involved, or thinking of getting started, in the financial markets can more than likely relate. We as traders don’t necessarily get into trading for the glory and riches but for the idea/feeling that we are building something all on our own. In many senses, it’s a form of entrepreneurship. My guest Jason (“Toxic” chatroom alias in community) has gone full bore into this mindset and he takes us on the journey with him. Like many, he’s done some really dumb things and at this point can only laugh at them; however, he’s also made some solid choices that we all can learn from. This has all lead him to the decision to jump in with both feet and give full time trading a try. Let’s get to it!

Let’s go to Australia once again and hear from a community member who sets a great example of what it takes to be a trader. It may not be the prettiest thing, but it’s a real life look into the bumps and grinds that us traders must endure to make it happen. My guest, Dan, is an open book and shares his journey of trading the market and what he has planned for the future. I found his overall attitude and perspective greatly motivating… and to be frank, he says a lot of stuff that many people need to hear! While it might rub some people the wrong way, it’s the truth and how things need to be (assuming you want to find and take hold of success). Let’s get to it!

If you want the maximum value out of this episode, I’d highly recommend you go back and listen to episode 242 first. I wish I could say I had this all pre-planned, but I’m just not that good at my job! I welcome back long time member Jeremy (better known as “Remy” in community) for his 3rd appearance on the show. Jeremy has been crushing it lately and walks me through all the things he needed to admit to himself before making the change to his new and much improved strategy. It’s never easy to admit defeat, but after Jeremey did he was able to expand and explore into various strategies that fit his needs. If you’re looking for a deep dive into the details of taking a broad strategy and then shaping and modeling it into your own personal risk tolerance, then you’ll love our discussion. Let’s get into it. Ready for details? Let’s go!

It’s time to roll our sleeves up and get down and dirty with  the challenges that trading can present. I welcome back long time member and friend, Ben (for those of you in the community, alias “close2pga”) to get an update on his journey. Ben has been struggling and not seeing the results he’d like, so this turns into more of deep dive into his psyche and trying to pinpoint what the problem is, but more important, what the solution is. If you are brand new to trading and have never put real money into the market, this discussion may be a bit over your head; however, if you are someone who has put their hard earned money into the market, then I’m confident you’ll be able to relate in more ways than one to Ben and his challenges. Who knows, maybe “the thing” that has been causing Ben his issues is the one correction you can also make within your trading to turn your results around? This was an awesome discussion and I’m excited to bring it to you! Let’s go!

A positive attitude can take you far in life (and trading) and that’s what we really get to see here. My guest, Homer (fellow member from the community who goes by alias “homercon”) opens up about his journey so far and holds nothing back. I really appreciated how he just told the truths of all the ups and downs he has been through. He’s not a profitable trader… but this is what separates him from many in society who seem to take such a negative out look on things. In his mind, he adds in a single word that changes the landscape. In Homer’s mind, he’s not a profitable trader, YET. The addition of that extra word shines through in Homer’s attitude and perspective and its something that was a breath of fresh air and motivating to me. Let’s get to it!

90% of us as traders have been there, in a hole. Whether it was due to letting emotions get the best of us, not knowing what we were doing, or an honest mistake, we’ve stood at the bottom of a hole and knew we needed to now climb out of it. If you can relate to any of these situations, then you’ll find great value and motivation in my discussion with fellow member George (alias in community, “gvigilgem”). Like the vast majority of traders, his journey started on a very bumpy road that eventually lead him downwards and into a hole. It was at that moment George knew he needed to change his ways, so what choices did he make? What actions did he take? We discuss that and a whole lot more (including how he is now well on his way to almost being OUT of the hole). Let’s get to it!