What's up everyone? All right? So today we're gonna do another episode of Driving with Ross I Was going to be driving a 1973 Corvette Stingray but it broke down on the way over. so I'm gonna have to settle for the 1970 Pontiac GTO got the keys. We're gonna jump in or take it for a little spin, have some fun and I can talk a little bit about the pain of having a $30,000 red day and what I learned from it as a trader. Whether you've had a red day where you lost 500 bucks, a thousand bucks with a loss comes a lesson.

I'm gonna share the lesson with you My thirty thousand dollar loss. All right, Nineteen seventy, 48 years old. let's see what she can do now before we get out and start talking about what it's like to lose thirty thousand dollars. let's listen to this kitten.

purr little goes slow to get started. just like my trading career. but then she comes to life. Wow Okay, get her in drive.

Airness Well, we don't have to wait to get out on the main roads to have some fun, do we? Wow Wow She's cut some power. I'm gonna be honest. Well, we lost a couple things down here. It's dusty.

so dusty. Okay, let's get on the road all right. Think we've proven that this car has a lot of power. Alright guys, so you know obviously you guys know that I like cars and I came out here to Las Vegas I Thought to myself, you know it's been a pretty good year.

I'm up almost half a million dollars this year as of right now. why not rent a couple of nice cars? And that doesn't mean rent a Lamborghini or a Ferrari as you know, that's not really my style. instead I thought I'd take this for a spin 1970. The other car that I was looking at was a 1973 Corvette and over the weekend I drove a 1970 Buick Electra and a 1970 Cadillac DeVille So I think again a little sense of my style I Didn't learn how to day trade because I wanted to make a million dollars I didn't learn how to day trade because I wanted to drive a Ferrari or drive a Lamborghini or fly in a private jet.

For me, learning in a trade was there was one motivation. It was because I didn't want to have a regular nine-to-five job when I was in my early 20s. I was dealing with so much anxiety and just stress and so much heavy stuff going on in my life. I just didn't feel like I could handle a nine-to-five job and so I stumbled upon date training.

but early on in my career I learned pretty quickly that it's easier said than done, no doubt about it. I know that I make it look easy right now. For those of you guys that are you know, watch my midday recaps and everything else. I have I've had days where I've made now thirty forty thousand dollars in a single morning in one day.

But my first two years of learning how to trade I mean it was. It was a daily struggle just to make even fifty dollars. And so the worst day that I've ever had as a trader I lost over thirty thousand dollars. Let's get this up to speak I Just it does sound nice I Have to be honest, it sounds amazing.

Glorious. So the day I lost $30,000 things I always tell our students is that a loss is an opportunity or it's your choice. Whether you're going to, you know, learn a lesson or you're just gonna take the loss and then do it again and again and again. La Traders they make the same mistakes again again.

they keep repeating their mistakes, they lose more and more money and they don't get to the point where you know they have the where the where the tide changes, where they actually figure it out, they just keep struggling until eventually they give up. Now for me I got to a point where go around I'd go faster but the exhaust is so loud I Don't think you guys feel it here anymore. So anyways, my first two years training total struggle I really it was too. losing money constantly and then I had a point where I started to get a little bit, you know, a little bit more.

But then I had the day where I lost thirty thousand bucks and it was probably one of you know, the top 10 most devastating days that have like ever had in the couple of months leading up to that big loss. I was on I thought I was on a little bit of a hot streak I think honestly I was just having a little bit of beginner's luck I was breaking rules Trading Apple and all these different stocks that currently don't trade because I don't consistently make money on them and you know I had found a little bit of luck trading breaking news. So you know the Fitnah breaking news is that when you're listening to some of these news feeds or watching the the RSS news feed, you'll sometimes see a headline. So if you see a headline like Warren Buffett has just acquired a 50% stake in a company, you're obviously going to be like wow, that's really good news.

like I got a, you know I got a jump on this thing I got to buy and and usually not tip a headline the stock will shoot up. So I kind of got used to seeing headlines like that on a fairly regular basis where there was Carl Icahn or Bill Ackman and there were other you know, different catalysts like that citron in pieces I remember those as much in those days but there were a lot of news opportunities and so I had a day where I was down about five thousand dollars I had already had a really bad morning and had several losses in a row, was not doing well and and off the news headline off the news in a wire. I saw this stock spike up and it went up really really fast. It squeezed up to it was like a hundred and fifty dollars a share.

I mean it. The things shot up like $25 a share. It just went straight up so the stock squeezes up and I I jump in on I bought the highs I jumped into it with a thousand shares. so I put $150,000 on the line, jumped in with a big position and I guess what happened? it dropped $10 per share, I was down $10,000 like the bat, it was instant and I was just like a deer in the headlights I didn't know I was just in shock at how fast I just lost $10,000 and so I did.

Made a rookie mistake that a lot of traders will make and I added another thousand chairs. So now I had 2,000 shares and it dropped another five points. Six point, seven points I guess it was 2,000 shares. My faction: I might have only had a thousand I might have started with 500 and then doubled to a thousand I think I'll I had a thousand shares and I lost $25 per share $25,000 loss Just like that.

it was less than 10 minutes and I was just sitting in front of my computer like wow, I Just mean what just happened on the day that I took that trade I had just under fifty thousand dollars in my account. so I mean I just blew out half my account and I was talking with Roberto Just the other day we were doing an episode of Driving Lacrosse and the 1970 Cadillac DeVille and I asked him if he could remember a well-defined turning point in his career. straighter. you know what was the point where things finally changed, where you went from being a losing trainer to a profitable trainer and he told me that it was that his turning point was the day he realized that he needed to filter out the noise and I thought that was a very interesting thing that he said because my turning point was was very very similar.

Now my turning point was it didn't happen on that day, but that was sort of the beginning. It was the beginning of me making the on that day. I made a commitment that I would never trade breaking news again. So you know what's suddenly news breaks and the stock squeezes up ten Fifteen points.

It's going to go without me because I got burned on that type of setup. I learned the hard way and trading breaking news like that, it can potentially end your career. They make it literally. So on that day I filtered out the noise I unsubscribed from the RSS news feeds I stopped following you know those breaking news and subscriptions and was able to save a little bit of money in the subscription cost and I just said, you know what I'm filtering out the noise now I never used the words I'm filtering out the noise, the words that that I used or that I and I guess I'm saving just one word.

What I said was that I realized later and it was later that year in August remember exactly when this was the time line but in August I had another bad month I finished I started the month with a $5,000 read day and I was just like dang, not again. So I have another really big read day at the beginning of the month. Now $5,000 at that point was my max loss so it was within. You know it wasn't a 25,000 30,000 dollar read day, but it was a big red day on that day.

You know, just being so frustrated with how I've been trading over the last, you know couple of years, I decided to pour over all of my trading data I sorted all of my trades by biggest Wiener to biggest loser. of course, biggest losers were breaking news, impulsive trades, horrible stuff. When I looked at the biggest winners I realized that I actually that they all shared something in common and I talked about this a lot during our classes and during some of the workshops. I Teach the biggest winners were all on stocks that were up at least 20% on the day at the time that I took the train, some of them ended up closing rent, but at the time they were up at least 20% and so I I committed a bat point to filter down even more, filter out even more of the noise down to just trading the stocks that were up more than 20% and that that finally was my turning point.

But you know, just like starting this old car, it didn't come on the first try. It took a few stabs over the course of two years before I finally turned the corner. So in that thirty thousand dollar loss, there was a lesson and it was not to deviate. it was to stay focused on what you're good, know what you're good at first of all, and then don't let go of it.

Now he takes trainers some time to really understand what they're good at. No doubt about it, it's not going to come at once. and you know, Warrior trading. We have a number of different instructors because we understand that it's not like there's one strategy that fits all in this market.

There's a number of different strategies that you could possibly trade, whether it's my strategy or Mike's strategy or Roberto's or you know, whatever. I'm sure over the years we'll have even more trainers that are coming and bringing their strategies to the table. But once you find one that feels like a good fit for you, you want to just focus on 100% I Made this really awful analogy, but I'm going to share it with you. It's like making a stew.

You don't throw everything into the stew pot because it tastes horrible. If you do that, you want to select your ingredients to make a perfect stew. So maybe you get a little bit of chicken, you get some black beans, maybe you get some celery, some carrots, maybe you saute some onions in a little bit of garlic, but you don't go and add eggplant and broccoli, and lima beans, and green beans and potatoes and bananas and oranges. You don't throw everything in independently.

These are all very good, but when you try to mix them all together, it doesn't work. So you've got to find that one strategy. Every single one of you guys watching this video like I said during driving across from Roberto Your one strategy away from being a successful trader. I Know it sounds simple to say it like that, but it's the absolute truth.

You are one strategy way. you have to find the one that's a good fit for you. Another analogy talked about in the past many of you guys know: I was married in my early 20s before I started learning how to day trade and that marriage ended in divorce. Well, that's true, was about 50% of all marriages in this country so ended in divorce and after that divorce when I decided to get back out on the market I signed up for the Harmony I've made my profile install the questions and I did it because I genuinely didn't think I could trust myself due to my horrible horrible track record.

So I said you know what I'm gonna give it a chance. this is ridiculous I can't trust myself I'm gonna give this thing a chance So I did the survey and the algorithm did its magic and matched me with it was now my Lauren now my wife today and you know where? we've been together for four and a half years now and it's just been. It's been awesome and so we kind of took that same approach. and at the end of the warrior starter class to have all of our students take a personality test and based on the results of your personality test, I'm gonna pair you with a strategy that I think is the best fit based on the questions that you the answers that you gave to the questions.

Now it doesn't mean you can't learn one of the other strategies, but I want to try to help find that perfect fit for you so you don't have to go through you know, months or even years of trial and error trying to find your path I Want to help you find it because once you get it, it's just like from that point forward, every day is the first day of summer. You're living your dream for me. I Haven't had a real job in 10 years. A real job I haven't had a boss in 10 years and when I go back and was it worth the two years of trial and error and all the losses? Absolutely.

I Mean look at this. I'm out in the desert. Life can be so good when you find your passion. Now for me, trading it has become my passion.

It was something that I got hooked done pretty fast I was so into it. We have other students where trading is more of a hobby is something they love doing. It makes them money, but it allows them to actually pursue their true passion whether that's our or music or traveling or doing nonprofit work. Whatever the case may be maybe even spending more time with their children.

So for me, trading is my passion. But the reality is when you find something you love when you find your passion, it's no longer work. I Had a day not that long ago where I worked for 18 hours. It was nineteen everyday I went to bed.

it was excited to get up the next morning. It doesn't feel like work when you, when you when you love what you do. What's that saying? You won't work a day in your life if you love what you do. it is absolutely true I mean absolutely true so you know I Just I Take you guys for a little cruise and share that lesson with you.

Hopefully get so many so many waves in this car. Hopefully you guys really take it to heart and let's just hear this kid in part one more time. So for all you guys that would rather be driving Lamborghinis and Ferraris and you know, acting like you're making a million dollars a day, you know me. It's just.

it's just not what I'm not what I'm about. It's not what a it's not why I wanted to trade. it's it's so hard because I Miss day trading industry. There are so many preconceptions that when you're a day trader means you're automatically A.

You know, just the type of person that wants to wear gold watches, wants to act like they're better than I'd like to give people to freedom to be however they are and it's not my position to say how you should look. Billy You want to live your life like that? That's fine, but I can't relate to it. You know that's growing up in. Vermont Yeah, it's a nice step.

Nice thing. Sure, it's a nice to drive this car around for a day. Sure, you know, is it worth the 400 sir? I Said absolutely Would I buy it I don't know how much it cost? you know I mean maybe I Would you know I Have an appreciation for classic cars. Some people have an appreciation for exotic cars, but I feel like those exotic cars like a Ferrari You know for any a 458 those things are I mean are basically mass-produced I mean mass-produced in the sense that they're not collectible, they depreciate like crazy.

They're not a good investment car like this is actually an investment. You know those those new cars? a brand new Porsche 911. That's my problem with them. They they're kind of a dime a dozen.

especially if you're ever down and like you know Miami Beach You go to Malibu the grocery store Malibu and it's like Ferrari Ferrari look Oh God It's like ridiculous. That's just all my opinion. You guys who would you rather drive? Pontiac Gto, Shelby Mustang 1970 Cadillac Deville for brand new Lamborghini I Don't know I've driven a hard con. It's a fun car I could say it's not.

It's not myself. All right guys. I Smell like gasoline. It's not driving.

If you don't smell like gasoline and you not bouncing around, this is dry. The only thing that would make this better is a manual transmission and that's what the Corvette Stingray had. but that's alright. Get it next time.

All right everyone you enjoyed this video. You want to see more videos like this. Subscribe to the channel I think I should rent another car. Let me know what I should rent I'll go rent one.

We'll do another episode driving the Ross Alright see you guys real soon! Hi everyone! oh hey I didn't see you there while I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I Go live or upload new videos. Until then Happy surfing!.