Hey Looks like we're live. We are alright. so we are doing a special AMA Ask me anything live from Italy and of course I'm here with Roberto As many of you guys know, Roberto is Italian and so it's nice to you to come up here to where I'm vacation. Yeah, it was nice of you to come here.

Yeah, just a little bit. So we've got YouTube here, we've got Facebook and we have Instagram yeah, those are you guys watching this on a replay. Feel free to ask questions and both Berto and I will stay. You know? Kind of keep this bookmark so we can come in and answer questions that you guys might post later on down the road.

All right. So how's everyone doing today? You guys been getting excited writing down your questions. See a big crowd here coming in? Yeah, right. good.

Got about 250 streaming on YouTube here in the First Amendment adds up to the pressure here. Yeah, make sure you come up with very, very good questions that everyone can benefit from. So I see a couple of stock specific questions and I I suppose maybe we can talk generally about stocks in terms of setups or big things titrate CEI Today I did I made about 7,000 on it. So a super solid day.

But you know, rather than doing super analysis on specific stocks, we can talk about more of the the general nature. so it's good for people there watching this months or years know I've got a good question are they coming in and it says what would you do if you were 18 years old again? Okay, all right, that's a good one. Yeah, so you answer for it or you want me to Yeah, you go first. Okay, well when I was 18 of course I Just graduated from high school and was getting ready to start my first year of college and I didn't know what I wanted to do I was going to college because that's what you know.

My parents really wanted me to go to school and guidance counselor said you gotta go to school and so I enrolled in school and I don't I don't really remember how much it was but probably $20,000 a year in in classes and I just had no idea what I want to pursue and so I was I was like totally not motivated I wasn't into it, it was a school over a lot of people were just kind of partying and having fun and in hindsight, I think that taking a year off then might have been better for me because it would have given me an opportunity to experience and appreciate what it's like to work without a college degree, to work it like an $8 an hour job pumping gas or working at a restaurant and start to think about what I really want out of life and then go back into school if that was the path or maybe going to you know, vocational something to learn an actual skill. Of course you know in hindsight now I would say I should go right into training, but I wouldn't I wouldn't have known to do that at that time. but I think the biggest thing for me would have been rather than committing myself financially and emotionally to a path that I really wasn't confident in at all that I spent more time trying to find direction. that's that's a very good one and I would I would definitely agree with the second view and I would say that you know what you usually me so like don't realize when you are back at that age is that that's actually the time where you can take more risk and only you know doesn't actually affect you.

You know if it doesn't end up well, yeah and so I will definitely definitely would have will have taken Maurice that age and and enough for my specific background I would have invested time for example, learning English you know very well in a way that you know a lot of possibilities may eventually you know even came up to me and and I would have would have more tools yeah to evaluate. you know, because that's that the thing that age you don't really know exactly right for the most part what you know what you want to do for a living. Yep, and so and so investing more time. Yeah, that direction good might be all right.

Let me look you tube, you can look on. Instagram Yeah, James has a question about how do you deal with Commission's eating up your profits when you're trading with a smaller account? That's a good question. James So for me, what I did when I traded with an account as small as five hundred bucks basically and of course I have leverage as most of the brokers that'll let you trip five hundred dollars will give you I took this approach of buying as many shares as I could which was usually about a thousand shares of stock, around three dollars with six times leverage, five times, six, three, three thousand dollars and buying power. So you could buy a thousand shares of a three dollar stock.

So I buy a thousand shares. one entry. it would cost me $4.95 in Commission at that time plus another I think three dollars in ECM. So it was about eight dollars for the entry and then I would as soon as I had about $150 a profit.

I press the sell button and sell the whole thing. So Batman out of you know one hundred fifty dollars of profit sixteen went to Commission's which was you know about ten percent. So that was my strategy but a good one in terms of like giving an actual strategy to follow which is yes, absolutely great. What I would say about this is to and and that's what I'd always say even you know or mental sessions you know, people asking you know in the world trading community is to really focus first on your own skills and a courtesy build up your skillset.

Don't pay too much attention on that little Commission yeah it would eventually end up influencing your decision making process. in the I'm gonna trade that's agree and that and that will well kind of you know, take you further steps to get to the consistent profitability. That's a really good point. I've had students before.

One of the things that I encourage when students go from trading the simulator to trading with real money is to start with maybe a hundred shares for the first weeks just to prove that you can press the Buy button to the right time and and and everything feels comfortable. The problem is they'll say well geez, Ross I can't take ten cents per share of profit with a hundred shares. You know it's only ten dollars and that's not covering the Commission's I'm losing money and I always say don't even look at the Commission's just look at your profit before commissions so you understand whether or not this strategy if you scale it up to a thousand shares would be profitable. So you know Yeah that's that side of it - that's absolutely true in the end, Ultimately you know start measuring your like your statistics in terms of you know profit ratio and accuracy and yeah it's much I think I feel it's it is much better especially for new trailers.

Yeah to really get a feel of what what they were. they like trading so they can get better. Yeah on you know on a niche. yeah and then you know eventually build up more size, find a trade.

Yeah if you're gonna try to actually be profitable with a hundred shares in your first you know a couple weeks trading with a 500 dollar account, it's not a very realistic goal because you would need be making 50 cents or 75 cents per share and every trade and that's that's way too much to expect from the market. All right. So let's see, let me look for the next good question. Mentum in the summer, momentum in the summer can be slower August was my worst month last year well February was was wait no 2018 February Yeah so February was a bad month August was my second worst month and then September was only so-so Yeah for Logic Ops summer is definitely you know and usually that kind of is slower season of the year because just because of the volume overall volumes that will be lower and so I would say that definitely the summer outside the earning season is is is the smallest of the year.

So there's a question here what is a suitable investment to start trading? So I think the question there definitely from someone who is sort of at the beginning of the journey when I first got started I Thought that I should trade stocks I knew. So I thought oh I stood Exxon Mobil US Steel American Electric Power These you know old companies have been around forever that I was familiar with. Surely they're trading every day going up and down. so I just need to get to know them.

And there are some traders out there, mostly kind of bigger money traders who will tell you just get to know three to five stock you can trade them for the rest of your life, but that's that'll really works when you have an account size large enough to be able to average down and need some time, those stocks are down and then hold until they move back up. So for active day traders, especially with small accounts like five hundred thousand, five thousand, whatever that doesn't work, what you need to do instead is look for each stock or look for the stock each day that has the potential to move twenty to thirty percent. Because if you're trying to quickly grow a small account, you need volatility. Now with large caps, you may not be looking for twenty thirty percent, but a stock that has the potential to be up or down five to fifteen percent.

or maybe more potentially. So it's more about. it's not really about what is a suitable investment in terms of what which stocks should I look at because I trade different stocks every day I'm looking just simply for what today has volatility and today it was CEI and it gave me about seven thousand dollars of profit which was fantastic. Yeah and I would add to that you know to the overall question on you know how much more investment you you should look at in terms of you know when you are about to start you want to start I would definitely take into account.

you know not only like that kind of and money you put in on account but more also about like a time invested to learn and also the tools. Yes you know they end up choosing them and using for for your own education. Yes in the end it's it's really about. You know how do you to smartly you decide to invest your money that can pay off in the long run? Absolutely.

Rather than trying to just fund accounts and then find yourself just blowing up right over and over again? Yeah, I've known a lot of traders who they just say well you know I'll just learn as I go you know? So I'm just gonna throw money and start trading and they just do a little of this. A little of that and inevitably they spend their first six months or a year losing money and certainly you will learn through the process of losing money. but that's you know, the cost of education at the end of the day, which path is faster? Another question I saw that's a good one subscriber on YouTube said hey if I have really poor patience I Get road rage I Get angry easily. Is that gonna roll over into my trading? The answer is yes, it will.

Absolutely. And the good news is that trading because it's gonna force you to adopt a mental practice of being calm, cool and composed. The discipline that comes with that is going to help you and carry over back into your day to day life. True, right when you're stuck in traffic, there's nothing you can do when you're in a bad trade.

you know you just ya can't force it to be a better trade. You just have to accept that this is what it is right now and the market makes you humble. Yeah, and that's and that's true. It's also a little bit of a risk that you take.

You know, when you decide to start yes, ready? yeah, you quickly realize that it's it's a risk you take because it's so much that has to do with emotions. yeah, and emotional composure and psychology. Yeah, that is not just pushing two three bottles per day. Yes, it's really everything that comes with it.

Yeah, and and in most in most cases which is which is also great. I Saw a lot of traders that hell yeah in the community I Really noticed they their approach and their kind of during their journey of educating themselves. They were also becoming kind of better and handling those emotions that yes, you said yeah eventually carry over to York Yeah they live now at this point right now it's been more than ten years since I had a nine-to-five job. So I've been out of the 95 job for a long time.

I've been trading for a long time and I was telling you earlier today how how much my success or failure on a given day defines me. And when I have a day where I lose ten or fifteen thousand dollars or I have a week where I lose ten or fifteen grand or two weeks where I'm down thirty grand. For me, it feels you know it still feels really devastating. It feels like man I'm not doing I'm supposed to be doing and this is so frustrating and so for those of you guys who are experiencing that at the very beginning I want you to just keep in mind that that is that is part of training to a certain extent and the best thing you can do is learn to develop a sort of a coping mechanism for for that and for me I remind myself every time after I have a big red day or after I have a big red week that what defines a trader is not the profits or the losses.

What defines us is how we're able to bounce back and get back on the horse despite the frustration. and despite those very short-term failures that may occur on you know, an hourly or a one day or one week or two week span. Yeah, I agree. And also I feel that especially as a new trader, you kind of risk of thinking that just because you know your trading is not going well you know Dez made That may even affect yourself as an individual.

So it's it's always good to kind of. you know, knowing you know kind of having that bottom line where you know that you know you're trading results I'm not gonna affect you know really who you are yeah and because I saw you know in my in my life but also some traders that eventually ended up not you know I'm not making it yeah which you know it's part part of the game, but all of them like they really they really progressed in their life. Anyway, try trying that and eventually you know failing. As we define failure, it's it's not really a failure if you don't let that like you know they finding yourself.

Yeah, yeah. I think it's developing that sort of sense of developing that strength within to be able to continue to bounce back after red days after red weeks. and I've had some some terrible red days and you know, get back on the horse the next day and keep trading. I Had another question from Anthony who is asking about the simulator.

It says I trade lie. But those who are in the simulator would you say that staying in a simulator too long can form bad habits? If so, would you say in the typical person, should you know when the to be a person should go live? Mm-hmm that's a good question. Yeah I I would say that I've known traders who trade in the simulator for too long and when I say too long I would say six, eight, twelve or more months. So they've been trading a simulator for like a full year and and and that's if you're trading a simulator and you've been doing it for six or eight months and you're still not profitable.

Keep trading the simulator. But if you're trading the simulator and you're making money and now you're increasing your share size and you're going from six thousand shares to twelve thousand and then twelve thousand to eighteen thousand and twenty fourth and you're saying yeah I just made you know, $47,000 today. That's not realistic because what the simulator can't fully simulate is liquidity in the market and the slippage that comes with when you press the Buy button. The difference between where you think you're gonna get filled in where you get filled and with positions of 1215 20,000 shares, that can be significant difference.

So what I always encourage students to do is to use the simulator as a tool to help you learn how to trade a profitable strategy. A strategy for instance that Roberto and I both trade which is proven profitable. Learn the strategy, prove that you can trade it successfully and as soon as you have one green month in the stem, start trading at real money even with just a hundred shares, get skin in the game. True, that's that's totally true.

but I would say about about this in general and that's that's what. I also experienced on myself that it's really hard for you know for traders to be treating that simulator as you know as it as it was. it really was real money and so you end up taking trade out. you know out of boredom out of out of whatever situation which is not responding to your go-to set up.

Yeah so what? I always try to to really encourage people doing is to put effort on on the other sides of the trading. And what makes a trader successful which is you know kind of the preview knowing really get to know where you're at, what you're looking at for what's your you know go to strategy looks like and then after the fact spending time reviewing your own trades yeah and making sure you follow those rules you pretty funny. Yeah so that when you are actually there in the job doing you know your simulator trades. yeah you are actually conscious that you know after that comes the review.

So it's like what you know. how can I justify here entering the trade. You know if it's not responding to any of my strategy. Yeah, so try to put that also know.

Yes. I Inside you're trained to be a little bit more mindful. yeah of your process. Yeah, that makes sense.

I'm getting a lot of questions here. Give us a shout out of where you guys are logging in from today. I bet we have people logging in from all around the world. You guys know we're in Italy right now in Tuscany which is beautiful and warm.

We've got the A/c on in here. it's uh, we're six hours ahead of Eastern time. so we trade today from 3:30 p.m. until about 4:30 5:30 and now it's about 620 620.

It looks like our crowd is pretty young I got another 19 years old. Okay Austin saying I'm 19. Okay with a few thousand owners, what should be my first step to getting my foot into the door of trading. So I would say Austin you're you're with with $1,000 $2,000 Can you take that account and turn it into ten Fifteen twenty thousand easily? But not until you have the skills.

And so I would not put any of that money into the market until you have proven that you have a strategy that has the historical track record to show that you can. You can grow an account so trade in the simulator and you know if you sign up for our simulators and you just want to start practicing, you can certainly do it. One of the things that we do, we have a license agreement with Sterling Trading Tech and they're They provide a trading platform for all our students and they also provide the trading platforms for a lot of the smaller brokers and hedge funds out there. They can't afford to build their own software, so when you learn to trade on the Sterling Sim, you'll be basically trained on the same exact software you'll use with real money so that's good.

And then if you decide to add in the education then you know that that'll only speed up your learning curve. Yeah, well, that would that would add about this, especially when you're dead. Yeah, you know you feel like you know, of course you have a little energy. you can.

You can design the your life the way. Basically you know what you want and so and so I wouldn't be against. Actually actually encourage you to just do not focus on but also build up some some kind of side hustle that can give you extra you know, make some extra income that you can eventually use. No to fuel in your your trading down the road.

Yeah. and and so that you first on one hand, you don't have to solely rely on your training income. you know, for a living. Yeah.

And also you can. You can realistically build up, you know, a bigger amount of more money to start. Yeah, that's I Mean that brings up a really good point. which is that a lot of the students that are successful they already have a side business.

A side hustle. A lot of them are freelancers. They are. They have their own business.

so they have some source of income. and they're adding trading on top of it. And because they already have one source of income. if trading works out, that's awesome.

and if it doesn't, well, it's not the end of the world. And and the funny thing about that is because they come in with that attitude, they're more likely to be successful. And it feels unfair because if you're a person who's like, it has to work and it has to work by the end of this month, Well, because you have that mental kind of thing going on, you're gonna be putting more pressure on yourself, you're gonna be stressing out more, and that can all sort of snowball into emotionally reactive trading. revenge trading, Impulsive trading.

I Think you know if you're able to build that up, it makes a lot of sense, you know. And there's a lot of ways that you can make money working from home. Those of you guys who are working from home right now, or you're like trying to figure out a job. Lots of stuff with, you know, social media.

There's lots of stuff with affiliate marketing, blog posts YouTube videos I mean you see people that make you know I mean they may not be getting rich, but they're making them up to pay their bills. It's that that digital of life and with the flexibility you know really? yeah you know can give you the opportunity to then focus on on something like you know, training the market. Yeah that you know. You know that if you become very good at that's done, that can be life-changing Yeah and we have students I know we've got some students that they drive lyft or uber.

you know they, you know it's it. may not make a lot of money, but you know it just kind of keeps a little money coming in so a little less pressure. All right. So let's see.

so Jan says he's new to this or she's new to this I can't help from the picture and should I get two monitors to go with it. So um why I'm gonna go grab my two monitors to show you guys Yeah yeah I put and when it comes to monitor of course I would say the more space you have available to to you the more like charts and like you know other tools, the chat room, the scanners you can you can actually display at the same time. So I would say when you when it comes to regular monitors sites such as you know a laptop I will say that you you to start you would definitely need maybe one more extra. So I try myself a trail for a long time with just two monitors.

Yeah and and so it really also depends on the kind of setup you end up building. So so far and you know right now actually might back back home in my my office I only trade with mom or yeah one big one 49 inches super ultra wide one. So yeah it's not really about you know how many more does you use but you know how many I would say pixels you have on your disposals? yeah yeah that's a good point but for traveling so is this. This is my setup.

Basically these are these right? Here are two USB monitors they fit in my backpack right next to my laptop and I pop these out, plug them into the USB ports and just like that I've got my main laptop screen and then I have monitor one and monitor two so I can put them side-by-side and the way I set up my trading station I have my broker screen right on the laptop so I can see that right in front of me. That's where I'm typing my orders and pressing to buy and sell buttons on the Left screen right here I have my scanners and I have one chart and on my right screen I have two other charts. so I watched three stocks I've got my scanners I Have my broker and then on that same broker window I have our chat in the side. so just as a small panel, right? Yeah, so let's see.

Let me just check to see there's some other questions here. Um, there's that For you know there's zero lag on these USB monitors. It's a good question. these are made by a Zeus I think there are about a hundred dollars each? They're not.

I Mean you know they're not super super cheap, but but they do work well. So let's see. So a question here from Justin Do you think a part of your success with taking the $583 and turning it into a million dollars was related to the period when I was trading? You know that's a good question, You know I think that it's hard I Mean obviously it's impossible to say the best month of my trading career was January of 2018 January of 2018 I made a hundred and twenty thousand dollars. It was an amazing month and you know that was a year into the challenge.

So I started my challenge in January of 2017. if I started in January of 2018 I probably would have had a using an amazing start if I'd started this year. Well I still had a great G anywhere. it didn't make 120 grand but still be my goal of 40,000 I can't actually remember where I finished.

It's on the website with my broker statements but a solid month and you know? so I think there are certainly times where you're better off starting in times where you'd be worse off I would say for me, it's pretty predictable that November Well, I would say my strongest months of the year and this is statistical. It's not just opinion, but in terms of fact October November December January and February those are my five strongest months of the year and I can make probably 80% or 75% of my annual goal in those five months. Which means as I come to the end of the year in October or in September I know I'm lagging behind and I'll make up for it with a strong October November December And then of course I got a really strong start in January in February typically. so I will do another small account challenge at some point.

and you know, I I'm not going to probably do a $500 account challenge. I'll do something that's like 2,000 or 3,000 dollars. That's similar to the way a lot of you guys are trading. and you know if I happen to start on a bad month and I have to put a little bit more money back in? Well, that's you.

know the reality of trading and that's just. that's an experience that many of you may go through. So don't be bummed out if you start a small account and you have to add money because sometimes it doesn't doesn't go the first time. Yeah, Alright, so let's see any other good questions here.

So question from Albert Why don't I think stocks with acquisition news are adequate catalysts. So we had an acquisition stock today. The stock was being acquired, so the company was being acquired by another company at around $65 a share. So today I Guess what? The stock is trading at about 65 to share.

its trading at that price because that's the valid. That's the value of the company. I Mean there's really no speculating that it's gonna be valued higher or it's worth less. Another company has said, we're buying you for 65 a share.

Here's the offer. they signed it and accepted it. The stocks good trade sideways, more or less and 65 and what you're gonna start seeing is a lot of high frequency trading cuz they'll make a little bit of money on the spreads. But but you're not gonna see day traders making money because generally as long as the acquisition is confirmed, if it's a rumor, or if it's an offer that hasn't been accepted, well, then you might have potential for a bidding war or move higher.

But if it's a confirmed and accepted offer, there's nothing. - yeah, there's nothing there. Good question. All right.

let's check out answer question from Facebook here. All right. So Paul This is a great question. How did you manage the T + 3 rule? So the it's the settlement rule.

So it's actually T + 2 now. But here's the deal. When I first got started trading, I took a couple trades, my Etrade account, three or four trades and then all of a sudden I got flagged and I got this warning that I couldn't keep trading unless my account was above twenty five thousand dollars and I was like what the heck is this And that's when I discovered the PDT rule put into effect I think February 27th or something like that in 2001. that rule was put into effect after the dot-com bubble.

A lot of people were getting into day trading in the late 90s making a ton of money and then gone and a lot of people lost their shirts and so the the Commission, Securities and Exchange Commission decided to put on this regulation that you need to maintain a minimum balance of 25,000 in order to date rate. Thinking that that would help prevent novice traders from getting into the market and then losing their mind. Well for 15 years or so 10 years that's just what people did you know. 25 grand or they and a trade and then a couple of brokers started opening up in the Bahamas, the Cayman Islands, Jamaica Trinidad and a few other places.

and because they're located offshore near shore but offshore they are not allowed to solicit and market US residents. But when US residents go to them and say hey, I want to open an account with you, they allow you to open an account. and so I opened an account with one of these firms in 2017. I deposited $583 credit card and the next day or whatever was the account was funded and I was able to start trading.

No PPT rule I was able to date trade as much as I wanted instead of four times buying power. I got six times buying power. So with that $583 I had $3,000 of buying power and I was able to date trade as much as I wanted so there was no settlement restriction. I had a margin account and I grew the account really quickly.

If you're twenty five thousand, you have options of trading futures which don't have the PDC rule. you have options of trade. You have the ability to trade options which settle overnight. But beyond that swing trading you know.

Good question here. it's for me. but I think we can expand Okay dotsub say Roberto Can you explain okay, your strategy and why you feel better with the higher price stocks? That's that's very good question because it really opens up to to what I feel is really the main questions for all trader when they first get started and and it's about finding your niche right? Yeah, so so when it was when I first got started with trading which was about five four years ago now I really actually got inspired by water trading and you know signed up as a as a student and and of course I started studying all the precious material that you you know you guys put together. it was already available at that time and and so I think one of the mistake that I did that at that time was thinking that I could have made it with whatever strategy whatever like as long as I had and I knew there was a profitable strategy than ever.

you know it was the one for me right? which I ended up discovering over time and at least only that it wasn't really the case. Yeah, and and so thanks to the fact actually Walt's reading no, he's also offering different approaches. they're not only you know the the small cups would which really serves the purpose with a lot of them. yeah, it just doesn't really apply to any personality out there.

I I discovered that I just you know I just needed kind of a different pace. you know there was matching up with my myself a little better and that's when I look forward. Mike you know Mike strategy and I ended up you know, starting from there, building my own kind of branch with the trench rating I do yeah right now basically every day in chocolate. yeah and so I would answer the question that it's really about still about yourself and your own niche and that's why it takes a little time to you know to be invested, there to feel really what's right for you.

right? Yeah, we, you know a certain point. we realized working with students that there is not one strategy for trading the markets. There's not a million, There's There's a handful of strategies, but one size doesn't fit all. And there are people that my strategy.

the biggest reason that people would end up feeling like it wasn't a good fit for them is that it required them to make a decision too quickly. And the reality is, my strategy is pretty quick and a lot of people really like and it connects with them. And they love the fact that they can get into the market and be out of the market within ten minutes. with you know, five thousand dollars profit, Ten thousand dollars profit, whatever it might be.

But other people feel like they they sort of. They they hesitate, then they miss the opportunity, and now they got to wait for the next one. The next one comes, and again they hesitate. And so that's when we started to recognize that there was a real value in Mike building out a class around his strategy for trading large caps, which is a slower-moving strategy.

So most people who join the classes and go through my class and they're like, you know what? that's moving too fast and I good fit for me. They go into Mike's class or they go into the futures class And find a good home there. So that's kind of what we've we found for for most students. That and occasionally you'll have someone that goes into large caps and then goes back to small caps.

There are some traders that do trade both strategies, but but most people it's kind of like being a righty or a lefty. One feels natural and the other just feels like just not quite right. And so if you're trying to do something that just doesn't feel quite right, you know you're trying to someone to learn to play tennis as a righty. And they're actually a lefty.

They're gonna struggle the whole way and eventually give up so you can't give them the chance to try it a slightly different way. And if that connects and hey, maybe that's the difference between success and failure. That's very good. That's very alright.

Let's see. yeah, that's people saying this was me. Small Caps to Fossil? Yeah, yeah, and that's totally okay. One of the things that we've really embraced is creating this curriculum where when you remember of the warrior trading community, you have access to all of our classes.

So we basically this is in contrast to other educators out there that have a Ross class and then they've got a Roberto class, they've got Mike class and they've got a you know someone else class. And so basically in that model, the more times you fail, the more money that business makes because they benefit from you failing because then you'll of course from Roberto So then how motivated are they really to get you to be successful person number one? they'll just say well, why don't you give up there and just go try it with Roberto you know And so we sort of recognized that trend with some of the other education you know sites out there and so we decided to do something different, which is you get access to everything and you can navigate yourself which one is the best fit. That's true, it can be a little bit overwhelming at first, but really, you know with time you really feel you understand the value actually of all that quality companies I am a righty That's a good one for the ask me anything question. However, I bat and swing lefty.

so if you come up behind me on my left side, don't think that you're gonna outsmart me because I'm stronger on my left side I'm totally Drive you here? Yeah, I can't even take the bus with the left. So let's say what are some other good questions here? Um, the beginner. This is an important factor in trade, but when he you were a student about to graduate I think I lost it. Okay, the most rewarding aspect of being a traitor, That's a great question I would say in in the time that I've spent as a trade or my life has gone through a lot of changes as I know many people have especially we were talking about the span of ten years and but for me, what initially attracted me to trade was the fact that I was living in in rural Vermont and it was either you know this thing works as a trader or I've got to get a nine-to-five job and and I had had a nine-to-five job before that and I really didn't like it that much and I wanted to I sort of had this dream of opening an art studio and running classes and teaching kids and adults ceramics and and that didn't really materialize and sort of required me to be a much more extroverted person than I was.

and so you know I was like alright, well that's not gonna work and the benefit of that of course is that I would have been my own boss but I was getting to a point where I really need to generate some income and that's when I kind of stumbled on trading. I had a friend who'd made some money trading and trading penny stocks and he maybe got lucky but it inspired me and that got me into it. So it was. It was the freedom, the fact that I wouldn't have to be you know, a victim of the 9 to 5 grind.

And then as I got more and more into trading, I spent more and more time focusing on training and all the way up to building the warrior Trading website and creating this you know, crannies, classes in this curriculum and and now my life has gotten more and more busy and I actually have less and less freedom. I've got a lot less freedom than than I had when I was just getting started and sometimes I you know, wondered. Is this really what I wanted? I mean I don't have the freedom that they brought me into this in the first place. but let me tell you, this may continue to inspire you.

You make him up, you know, a little bit more. Be extra fuel to give other people opportunity to be free. Yeah, so so I mean I'm sitting on this very couch because you you don't want to keep it for yourself. Yeah, so I mean very honestly it's really changing people lives.

It's worth your freedom. Yeah, yeah, so you know. and and I would say that money. The you noticed that I didn't mention money because that for me isn't really the primary.

Do I make good money as a trader? Yes, you know five hundred thousand dollars. Last year was a great year. I'm tracking to be around five hundred again this year, which is good, you know I mean that's a great income. It allows me to pretty much live life on my own terms.

Am I on a yacht? Am I you know, flying their private jet? No. But am I living a good life? Yes. And there's a interesting study about happiness and income and how once you get above about $75,000 a year, your happiness as income increases sort of starts to just level out and there might even be a place where it starts to dip down because you're making so much money that there's probably a lot of stress that comes with that. So I don't know, but but I don't think the study went that far.

it was just sort of this short letter and I would say that I don't know if this study even exists, but I have a feeling that that you know the people that really get in into this just for the sake of making money are the ones without very high, likely actually fail. Yeah, because you know, because when that's the problem is about, this is all about. You know if you're getting into even trade because of just monetary goal and that's when you get greedy or or you end up chasing and so yeah, that's where you miss actually the whole the whole target in your whole point. Yes, so and so that's that's what I actually answer to people when when they ask me know, should I start trading I ask them if you think about doing it for them, adjust for the money, just something else.

Yeah, it's this requires you know, really commitment and yeah, you even passion and and so it's it's really a first-person kind of you know job that you where you have to take responsibility and and putting it all into the world. Yeah yeah, and not just you know, expecting it to be like a quick rich scheme or anything like that. Yeah, that's that's definitely true. Um, you know I definitely see a lot of traders out there that flash their fancy things the night, the really nice cars, or you know, the ability to whatever stack up a lot of money on the table or something like that.

and I mean that's cool like that's that's a those are those are material signs of achievements and success. But ultimately I I don't think that those are the things that create happiness and you know, even for myself. like being here in Italy for the last few weeks. I you know, haven't driven my G-wagen in three weeks and do I really miss it like no, am I driving a Fiat that is like you know a really crappy car.

yeah and it really like it's fine. like I don't care. ok with it. so like it's nice to have nice things and hey if you can afford a safe car that's 150 grand and it's not a big deal and then do it.

but you know I think for me the the real happiness comes from the freedom and the independence and that's that's what brought me into trading. That's what's gonna keep me. You know, in this career as a trader, it's the freedom in developers you know I mean I'm trading made $7,000 on CEI today. trading from Italy were six hours you know ahead of New York City It's how many miles away like you know, it doesn't matter.

You can trade from anywhere in the world. Every single one of you guys watching this, you have access to the Internet because you're watching this video. That means you have access to the market. It's never been more accessible than this today industry.

and that's the reason that we're seeing more traffic on our website that we've never seen before. It's because people are recognizing that there's a community of people out there making money trading and there's an opportunity to get piece of it. No, it's not for everyone, but for those that you know want to master this skill and really want the freedom, the freedom is the motivator. That's what's gonna keep you up late at night studying and trying to make it happen.

I Just don't think money is a strong enough motivator. it is. It absolutely agree with it's not strong enough motivator at all. Hey Chris got mr.

Manor in attendance up five hundred twenty six dollars on CEI Today Good Chris was a teacher at my high school. I'm gonna see him later this or next month. All right, let's browse for some more questions. Yeah, there is a lot of questions and consideration about the no psychology part of this.

I seen one that I can I can't really find it, but it was referring about what to do if there are anything you're doing like meditating or like sizing right in order to you know to overcome those you know, those those fears, those emotions and the result. Another one here from Kumiko says how do you handle limiting beliefs when you're starting out right? So it's all related to the same very big area. You know these psychology and emotions that come in yes, trading and how to deal with that. especially I was talking about.

Yeah yeah yeah. I mean it's it's tough I mean there's no question about it. Learning how to day trade is not like learning how to pour a glass of water. It takes some practice, could take some more time I Think on the emotional side.

One of the things that I recognized fairly early on was that I had this habit of going into these sort of downward spirals where if I had a loss, I would get frustrated and angry and that would cause me to double down. And it's that there's a gambling strategy based on you double down every time you lose and it's for blackjack and it's like it's a crazy I mean it is just crazy and so the thing is I sort of started do that, not even intentionally just like I just started doing it and what? I found would happen is I would just snow ball and get the loss would get bigger, bigger and bigger until I just there was no way I could recover from that last loss and I would in one day give back six weeks of profit and it was devastating And so that's when I started to recognize the fact that I needed to develop a sense of awareness so that before I cross the point of no returned I would stop you. could you could like see yourself with your third person and say yeah, yeah, that's it, you guys stop right? And so I during that time my life I was going through a divorce and as part of that I start seeing a therapist and you know we our first couple sessions. you know just talking about the divorce and then you know didn't really have a whole lot to talk about on that because it was just sort of.

it was what it wasn't, what it was was what it was and so then it was like alright well we got another 45 minutes. so what's else going on and I start talking about my trading and that was incredibly helpful. I'm so helpful that I still see Ted every week and I've hired him to be a mentor for students that are in our class. He does sessions on Mondays and Fridays for our students and so we work together to start to identify these trigger points for me that you know if these certain things happen, there is a really high likelihood that I would go out of control and so that was developing a sense of awareness and mindfulness.

and now I have it. And it's not to say that I don't have read days anymore. It's not about preventing read days, it's about minimizing the damage. it's about basically capping your read days at a certain a certain point And that's what I've gotten pretty good at I've still had days where emotions got the best of me and true at the end of the day.

I'm really disappointed in myself that I feel like I have a setback, you know? and and I think that you're gonna have things like that happen in any career. You know you're a woodworker, you've got an amazing slab of wood and you know you get a little careless and you just put a giant scratch in the middle of it and it's like what's wrong with me I've been doing this for 15 years and you know this is the fifth time I've done this. you know? But but that is. That's part of life and another part is being able to just roll with the punches.

True I'm good at rolling with the punches. You know that's where the meditation comes in, the exercise, the yoga, acupuncture, any of those things that just teach you and train you to just go with the flow and that is gonna make you a better person when you're sitting in that rush-hour traffic. you know, because so you can't change it, you might as well just make the most of it. Listen to a podcast.

Enjoy! the other thing that can come as a suggestion. When it comes to you know, having those rules define oh. it's like every trader basically have a set of rules that he, he or she knows you have to follow. And so when you are, you know in one of those days that you end up breaking the rules and you know you know it's gonna happen.

But yeah, it happens to every one of us. Sure, having some sort of some sort of like practice that you can do they you know it's like that they're one practice that you know you kind of hate. They hate doing like yeah, running four or five miles or or jumping on the bike for 20 miles or whatever. Yeah, but they.

You also know that if somehow it's gonna be good for your body, yeah, that's you. know that's the one you want to kind of implement. Yeah, when you recognize you break the rules. So so that kind of mindset can also help you, preventing yourself from, you know, doing the same mistake again the next day.

Yeah yeah, a hundred percent when I when I had when I'm in the moment of tunnel vision and I'm staring at level two and I'm being super aggressive I'll look back later and be like what was I thinking why did I double my position size at the worst place? Why did I hold you know where I held? Why didn't I this and that and the reality is in that moment I was emotionally hijacked and what I mean by that is we've got the fight-or-flight response. and that fight-or-flight response can get triggered by training. So you're at this heightened state and you're essentially making decisions based purely on emotion and your reason. Your logical mind is gone.

When you have to fight a flight response, it naturally hijacks and takes over your logical right. That's why you know people have panic attacks. Sometimes on airplanes, it's not logical, it's the emotional side, just totally taking over. And so the problem is, when you're in that emotional state, it's really hard for your logical mind to come back in and take take back control and that that's why you have to become aware of your triggers that leads you into that state.

So when you start to get close, you can redirect before it's too late and you know doing things at the end of a bad day like the exercise to the meditation a lot of times for me that just creates designated time for you to reflect on the mistakes I made and you know, develop more of that awareness about my behavior and you know, yeah, gonna help you? You know, preventing from that issue? Yeah, a question about how do I cut losses quickly? You know that really ties into that emotional stuff. So like if you create a set of rules where you say you know my my rule is that any time I'm down more than X amount then you know you got to follow that rule. And if you find yourself not following it, then the question is did you make a rule that's too difficult to follow? You know that your or is there. Do you need to add another rule to make it easier to follow? Like let's say I've got a max loss of $100 but I'm trading with 15,000 shares.

Well that's not realistic I Gotta make a little bit of a change there. if you're gonna tighten my share size down and loosen up the stops or increase my max loss. sound to discipline and that's really keeping your stops comes down. Discipline or your pro student with twenty four hundred dollars of profit on CEI Good job today I See it's still up about a hundred and fifteen percent on the day which is impressive.

Four dollars and sixty cents. Good job Jordan Nice. Very good. All right.

So give me. um, you guys give us a thumbs up if you've been enjoying this video. If you want us to do these again, the only way we know is when we see those true those - thumbs up. Thank you thank you for joining.

Yeah, thank you guys for being here today and let's see. let's do one more question and then we'll We'll call it a day here. Jaguar F-type Well, the problem is the V8 is an automatic. the V6 or the six-cylinder is a stick shift.

but I'd want the V8? I mean but I don't want an automatic so that's kind of a problem at least right now. All right, that was the last question. I'm just kidding and we'll give you one. let's see related to related to trading here.

Um yeah, Someone here like this: what's behind those red days? Yeah, yeah, that's good. So let's twist the flush deck. So about red days. So red days right now account for about 25% of my days each year.

Which means I'm gonna have about fifty to sixty red days per year. That's just a that's yeah and you know that's its cost of doing business. It's I I've got my trip. My trade strategy has a profit margin.

It's a profitable strategy, but you know I have to account for the losses and those come from about 25% of my days. My accuracy on green days is, well, my accuracy is that I am green about 75% of the time. So I would say in a lot of ways, Cess is defined by how you behave on those red dates. By recognizing let's say it's 10:00 a.m.

Eastern Time and I've taken only two trades I'm only up like a hundred and twenty seven dollars. That right there develop that sense of awareness that that right there is the flag waving in your face that you gotta go slow today. You should not expect between 10:00 and 10:30 that you're gonna hit a home run and this is gonna be a $10,000 day. On the flip side, of course, if I have a day where I'm up 10,000 by 10 a.m.

that may be a day where I I'm a little more aggressive. So at the same time if I have a day where I'm down $250 by 10 a.m. I'm gonna really try to take the cue from the market that I just need to cut my losses. You know the fish aren't biting today.

The markets not high. It's one of those things like you can cast your line all day long. But if there's no fish, you know there's no fish. You're wasting your time.

You're wasting your energy. You're wasting your bait. That's in the form of trading. Those are lost.

loss loss loss loss. So you gotta stop that as quick as you can. If the markets not hot, you step back. You soon your hands and you guys think yourself is that you know Spearfisherman sitting waiting.

If it means you gotta weigh the whole day, getaway, the whole day, the next day. You know when you see something is perfect, you strike. Yeah my take on this is it's about the known expectation that you should build in your training. The only expectation you should really have when coming into a day is about respecting your own promises.

No Trade Well is the goal, you know? Yeah, if you can really get the to that goal every single day of your year, you know good things will come. Yeah and so and so it's a part of this process. There aren't going to be right things even if you trade it well. But the other day the question that I ask myself is did I respect my plants I did I take the trays then I actually was supposed to trade? Yeah, take and so.

and so. That also kind of helped me. Really, You know, looking at myself on the perspective of trying to trade well that I do manage the trades Yeah, really well rather than trying to make money every day, right? Yeah, and that's a tough one because the market. unfortunately this is a real downside of trading is that you can get rewarded by the market for breaking the rules.

from you can get rewarded for bad behavior which is essentially you did all the wrong things, but the market was high, you got lucky and you made money. and so at the end of the day are you being honest with yourself and saying I didn't follow the rules - I broke my rules or are you patting yourself on the back because hey, it's a green day, you know. And so the fact that you can get rewarded for breaking the rules can it clearly easily sends mixed messages to you about when to follow rules, when to break rules, And you know it even can reinforce that bad habit. Yeah, exactly.

Eventually it will kind of. You know if you don't, you know, take the time to learn from them, even if they create an actual good outcome. Yeah, it will. You know, most likely great.

And that's for me. I for a while got away with as soon as I heard breaking news I would jump into a stock as soon as I saw stock squeezing up and there's breaking news on it I would jump in and I did impulsively like. We had a period where Carl Icahn was taking trades on stocks and you know, yeah, he's a big investor Bill Ackman's takes some positions and as soon as you'd hear the headline on CNBC or you'd hear it on a news feed, the stock would instantly search up and I jumped into one of those and it ended up absolutely completely reversing And that was day lost on that stock. $25,000 And it was.

It happened so fast it was the result of being impulsive I was totally breaking a rule I was trading in the afternoon I was jumping as something without even looking at the chart and eventually it caught up with me and all of the profits that I made on the lucky trades, they were all gone plus a lot more when I thought when it finally caught up with me and it could have ruined my career? you mean for other traders that would have ruined their career? So you know, asking yourself and doing that review at the end of each day was today a good day. But I follow my rules and if not, I gotta try to do better tomorrow. So anyways, thank you guys for being here today! This has been a lot of fun. Those you guys watching this on YouTube like I said questions, comments leave them below will the answer them will keep coming back to them and I'll hopefully see a lot of you guys in the chat room.

Well we'll be in the chat room tomorrow so see you guys there! Thanks for joining! Thanks everyone we'll see you soon! Bye.