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Hello there and welcome back to Three Decades of Tragedy! After a bit of real life delays, the special discussion episode is ready! We discuss the question of "were the protestants justified in their rebellion?" and "what was the biggest failing of the rebellion?" on top of a few sub ideas. Links related the the guests will be below and please contact me if you want to see me do more of these! See you guys next week with our proper episode! Email: 3decot@gmail.com Facebook: https://www.facebook.com/3DecadesoftragedyPatreon: https://www.patreon.com/user?u=8984301Website: https://threedecadesoftragedy.com/ Chezz: https://twitter.com/DaemDarkBen: https://www.rachelunraveled.com/ https://www.kickstarter.com/projects/rachelravel/sisters-a-new-comedy-series/description
We welcome @boogie-cafe-records Alex to the guest mix series this week with a rather delicious selection for your weekend warm up. The label is a UK / Dutch collaboration with label heads Alex Dinham and Chezz at the helm. The label has been a firm favourite of the SB crew since its inception and we've always been digging their sound which regularly pushes the finest disco flavoured deep grooves. We're excited to see what they've got in store for us in this hour long mix. You'll find some recent favourites as well as some upfront exclusives of new Boogie Cafe releases... 2 new tracks from the Piers Kirwan - Dialogue EP, available in October, as well as a new track from Brine. Later in the year there's a vinyl VA to look forward to called 'Rotterdam on the Move‘, featuring artists all from Rotterdam. Tracklist: Brine - Lets Brake - (Forthcoming - Boogie Cafe) Ben Hauke - Night work - ft. Joe Armon Jones Piers Kirwan - Afraid of the Dark - (Forthcoming - Boogie Cafe) James Rudie - The Answer Turbojazz , Sean McCable and Javonntte - Wanna Dance (Moondance Remix) Crackazat - Eye Light Dominique 2000 Pintes - Lost But Calm Marlon Kirk - Mutted By Life Letherette - Mokon Lay Far - Heartfelt Ben Hauke - Every Record Piers Kirwan - Parley (Forthcoming on Boogie Cafe) Don Pascal - Time (Trev Remix) Trev - Here Together Dominique 2000 Pintes - Kacoustic Sean McCabe - Notes From The Universe (Boogie Cafe)
In Talkin’ with the B-Base beleuchtet Boogiedown Base gemeinsam mit Niko die Hip-Hop-Landschaft fernab vom Mainstream. In dieser Folge geht es um das Leipziger Untergrund-Label Daily Concept und deren Künstler wie u.a. Chezz&DAM, Classic der Dicke, Soulmade und Dude26, der 2018 leider verstarb. Daily Concept bietet als Independent-Label jenen Künstlern eine Heimat, die deutschlandweit im Untergrund stattfinden und diesen representen. Das Label wird von den Fans für seinen ehrlichen Output und seine DIY-Mentalität geschätzt. B-Base erzählt uns von seinem Besuch bei der Daily Concept Label-Nacht und fasst für uns zusammen, was dieses Label in seinen Augen so besonders macht.
This weeks show starts off with classic selections from Peter Tosh, Burning Spear, Pablo Moses, Sylvan White, Dennis Brown, Misty In Roots, Jacob Miller, Culture, Ras Michael, Ijahman, Sugar Minott, and Horace Ferguson. New music this week comes from Vin Gordon, Akae Beka, Morgan Heritage, Glen Washington, Blvk H3ro, Mungo's Hifi with Eva Lazarus, Courtney John, and Dami Knight. Also this week we ride the Inna We Heart Riddim, The Uprising Riddim and The Resistance Riddim featuring artists like Mosiah, Teacha Dee, Black Loyalty, King David, Ziggy Ranking, Chezz, and Jigsy King with Mwanamke. Tracks from Ghetto Priest, Cornel Campbell, Gregory Isaacs, Beres Hammond, The Mighty Diamonds, and John Holt round out the playlist In The Dub Zone this week you will hear dubs from Vin Gordon, Dub Proof, The Senior All Stars, Max Romeo, and Burning Babylon. Extended dub mixes feature The Easy Star All Stars with Corey Harris and Ranking Joe, OBF and Nazamba, Martin Campbell and High Tone, Ark Aingelle with Habesha, Autarchi and Fari Di Future, and Micah Shemaiah with Infinite. Enjoy! Peter Tosh - Equal Rights - Equal Rights Legacy Edition - Columbia Legacy Burning Spear - The Fittest Of The Fittest - The Fittest Of The Fittest - Heartbeat Records Pablo Moses - Be Not A Dread - Revolutionary Dream - Shanachie Sylvan White - Faith/Faith Version - Africans Unite - Roots Foundation Vin Gordon - Styler Man/Dubbing Style - African Shores - Tradition Disc Dennis Brown - The Half - The Promised Land - Blood & Fire Misty In Roots - True Rasta - Roots Controller - Real World Jacob Miller & Inner Circle - Healing Of The Nation - Forward Jah Jah Children - Trojan Records Culture - The International Herb - International Herb - Shanachie Ras Michael & The Sons Of Negus - None A Jah Jah Children No Cry - Jah Shaka Presents The Postive Message - Greenlseeves Ghetto Priest - I Murder Hate - Every Man For Every Man - Ramrock Records Ijahman - Moulding - Are We A Warrior - Island Records Sugar Minott - The People Got To Know/The People Got To Dub - Ghetto-ology and Dub - Easy Star Records Horace Ferguson - Great Stone - Sensi Addict - Ujama Akae Beka - Under The Sun - Mek A Menshun - Zion High Productions Morgan Heritage - Bedrock - Loyalty - CTBC Music Glen Washington - God Of Our Fathers - Conqueror Riddim - Trainline Records Blvk H3ro - Street Life - Loud City Music Protoje feat. Lila Ike' & Agent Sasco - Not Another Word - Indiggnation Collective Mosiah - Love Inna Me Heart - Inna We Heart Riddim - Ragatac Music Teacha Dee - First Man - Inna We Heart Riddim - Ragatac Music Ras Teo Meets Lone Ark - Inna Me Medi/Inna Me Medi Dub - Ten Thousand Lions - Lone Ark Productions Mungo's HiFi feat. Eva Lazarus - Dub Be Good To Me - More Fyah - Scotch Bonnet Records Gregory Isaacs - Mr. Brown - Mr. Isaacs - VP Records Glen Washington - One Of These Days - Most Wanted - Greensleeves The Wailers - Thank You Lord - Songs Of Freedom - Tuff Gong Mighty Diamonds - Natural Natty - I Need A Roof - Hitbound U- Roy - Back Stabbing - The Lost Album: Right Time Rockers - Nocturne Cornel Campbell - Mash You Down - Soul Jazz Presents: Dancehall The Rise Of Jamaican Dancehall Culture - Soul Jazz Records Dub Zone featuring Strictly Dubwize & Extended Dub Mixes Vin Gordon - Shucumooku - African Shores - Tradition Disc Dub Proof - Bee Sting Dub - Dub Proof - Dub Proof Music The Senior All Stars feat. Ammoye - Baltimore (vocal dub edit) - Soul From Dubdown: Darker Than Blue - Echo Beach Max Romeo - Valley Of Jehosaphat (Segs Jennings Steve Dub Hot Remix) - Select Cuts From Blood & Fire Chapter 2 - Select Cuts Burning Babylon - Into Twilight - Garden of Dub - Mars Recordings Easy Star All Stars feat. Corey Harris & Ranking Joe - Time/Time Version - Dub Side Of The Moon - Easy Star Records O.B.F. feat. Nazamba - The Groove/The Groove Dub - The Hills/The Groove EP - Dub Quake Recordings Martin Campbell Meets High Tone - Urban Style/Urban Style Dub - Jarring Effects Ark Aingelle & Habesha - In Awe/Awe Dub - Habeshites 12” Autarchi & Fari Difuture - Shashamane Living (discomix) - Roots & Reality - Bent Backs Records Micah Shemaiah feat. Infinite - Reggae Rockit/Reggae Rockit Dubwise - We Generation Music ==================================== Jesse Royal feat. Protoje - Lion Order - Easy Star Records Steel Pulse - Cry Cry Blood - Mass Manipulation - Wiseman Doctrine Alborosie - One Chord - Unbreakable: Alborosie Meets The Wailers United - Greensleeves Black Loyalty - Set Me Free - Uprising Riddim - Blue Room Studios King David - Order - Uprising Riddim - Blue Room Studios Ziggy Ranking - Turn Around - Uprising Riddim - Blue Room Studios Lila Ike' - Where I'm Coming From - Indiggnation Collective Naomi Cowan - Paradise Plum - Reggae Gold 2019 - VP Records Courtney John - Far Away - 7 Long Lane Entertainment King Jammy & Dennis Brown feat. Aza Lineage - Real Love - Tracks Of Life - VP Records Queen Ifrica - Girl Like Me - Prime Time News Riddim - DJ Frass Records Dami Knight - Blue Skies - Island House Records Beres Hammond feat. U-Roy - Putting Up A Resistance - Can't Stop A Man: The Ultimate Collection - VP Records Chezz - High Grade - Resistance Riddim - Napem Records Jigsy King & Mwanamke - Ganja Pickney - Resistance Riddim - Napem Records John Holt - Ali Baba - Treasure Isle Presents: Original Reggae Tighten Up Hits - Treasure Isle Tony Curtis - Weed Dream - King Tubby's Dub Plate Style Riddim - Maximum Sound Speng Bond w/ Naram & Art - Dread Outta Road - Outta Road/Dem A Fraud EP - Red Robin Earl 16 - Reggae Music - Lick It Back - Reggae Roast
In Talkin’ with the B-Base beleuchtet Boogiedown Base gemeinsam mit Niko die Hip-Hop-Landschaft fernab vom Mainstream. In dieser Folge geht es um das Leipziger Untergrund-Label Daily Concept und deren Künstler wie u.a. Chezz&DAM, Classic der Dicke, Soulmade und Dude26, der 2018 leider verstarb. Daily Concept bietet als Independent-Label jenen Künstlern eine Heimat, die deutschlandweit im Untergrund stattfinden und diesen representen. Das Label wird von den Fans für seinen ehrlichen Output und seine DIY-Mentalität geschätzt. B-Base erzählt uns von seinem Besuch bei der Daily Concept Label-Nacht und fasst für uns zusammen, was dieses Label in seinen Augen so besonders macht.
Are you someone with a schedule that does not allow for you to be able to watch your screen every second of the day? If so, you are not alone and you will find great value in our discussion with community member Jon (his alias in the chatroom is also just ‘Jon’). He is someone with a packed schedule and on the surface you would think there would not be any way he could “be a trader”. There is power and freedom in knowledge and Jon took the steps needed to inform himself to take advantage of an area of the market he was originally not aware of (most new people have no idea about it). Around these parts we call it options farming and it is truly a great way to get involved with the markets in a very time efficient way. Jon tells us all about where he started and how he arrived to the point of making money with minimal time required each day. Lots of knowledge is coming your way, so let’s go! Show Notes: Today we speak with community member Jon. His introduction to the market was actually a gift from his grandmother. She gave him some stock as a graduation gift and he eventually learned about dividend paying stocks. While passively investing in his 401k and focusing on companies he thought had potential/believe in, he started seeing a scrolling ticker of big movers for the day. This led him to start looking into penny stocks around 2013 which was quite a time for small cap stocks. After making modest gains being a passive investor, Jon started to see the allure of penny stocks and would focus on the highly discussed ones on StockTwits and iHub. While he had quite a few winners (by luck) he eventually went on a losing streak and decided to abandon penny stocks entirely. Jon saw Clay post a chart analysis video and this intrigued him to look into technical analysis. After some deliberation, he joined the program and has taken a bit of time to work through the program due to his commitments outside of his day job and hobbies. As he has worked through the program he noticed that the Advanced Options strategies work perfectly with him having a limited time during the day to trade actively. A previous podcast led him to investigate the opportunities of those strategies and he has been using them exclusively ever since. Eventually Jon will look more into day trading but Clay and Chezz try to dissuade him from jumping into that too early. While there is nothing wrong with continuing your education and expanding your knowledge, if he only has his lunch hour to trade this can turn into a slow bleed or worse, a disaster. Quotes: I thought you could only buy or sell in 100 share lots. It wasn’t until 2011 when I discovered you could buy only 1 share of something if you wanted. Here I am making 1 or 2 percent on Microsoft or Ford and I see these other stocks moving 200, 300, 1000 percent in a day. That piqued my interest a bit. I would buy in and just kind of wait for the news to happen and see what the stock would do when the news did come out. There’s so much material it’s crazy. It’s a good problem to have. There is very little time commitment once you’re in the trade to maintain it. It’s been awesome for me. Links: A Stock Traders Daily Routine: https://claytrader.com/videos/an-option-swing-traders-daily-routine-in-detail/
Neste episódio, Balbi recebe o Mestre Xezz para desvendar os mistérios do Clímax na mesa de RPG e de seu nêmesis terrível conhecido como David, ou também pelo nome mais comum "Anticlímax". Os dois discutem sobre suas experiências pessoais relacionando-as com o tema de hoje. Você poderá encontrar mais do Chezz no Twitch, no Youtube e no Twitter do Tear dos Mundos. As músicas utilizadas no episódio foram "Faster Does It", "Apero Hour", "Bossa Antigua", "Hard Boiled", "Sidewalk Shade" e "Spy Glass" de Kevin MacLeod. __________________________________________________________ Jogos ao vivo no Twitch toda terça às 22h30 e quarta às 21h Encontre a gente também nas redes sociais.Instagram, Twitter e Facebook do Regra da Casa!
Wow. We did it! Not only did we hit 200 episodes, but we did it 200 weeks in a row. A special thanks to our community whom I give all the credit to for allowing this feat to be accomplished. Without you and your willingness to share your experiences, there is no way we could have done 200 weeks in a row with uninterrupted content. For this episode, we are bring back two members who were part of our first 10 episodes and we’re all “talking mistakes”. Given the idea of the show is to show the “realistic” side of trading, I figured what better way to celebrate 200 episodes than all sharing some of our biggest screw-ups, no matter how embarrassing they may be. Let’s go! Show Notes: Today we celebrate making it to 200 episodes with Nate, Hooch, Clay and Chezz. We spend the episode talking about the three biggest mistakes they’ve made since they started trading. The first eye opening mistake most of us made was not being completely aware of the commission structures and how they vary across multiple brokers. One of Nate’s biggest mistakes was thinking that a bad trade he was in could not get any worse… when in reality it can always get worse. Trade what you see, not what you think. Hooch talks about the importance of multiple sources of income. He clarifies that you do not need to start the next Fortune 500 company to earn some extra income. Multiple sources of income provide you mental comfort if your trading wasn’t as stellar as you had expected. Chezz talks about putting a set time frame for when you should start to be ‘good’ at trading. In reality, everyone takes a different amount of time to hone their craft. When talking about trading mistakes specifically, greed is one that spans across the board. Everyone has to learn how to wrangle this emotion if they ever want to have lasting success. An important criteria for trading always involves liquidity. Regardless of your ability to buy, if you’re unable to sell then you’re opening yourself up to the possibility for a big loss. Hooch’s final thought is to remember there are times when you probably shouldn’t trade. This relates to major life changes such as marriage, more children on the way, buying a new house, etc. Anything that is a large event in your life can impact your mentality which will come out in your trading. Quotes: One of my biggest mistakes was not understanding commissions and how it can screw up a trade plan My biggest mistake I like to point out was having the false mentality of thinking ‘it can never get worse.’ You don’t have to start up a new Amazon… even if I make an extra 40-50 bucks in the afternoon I find that really helps me mentally. Overconfidence or thinking you can put a set time frame on when you think you will be good at trading is my biggest mistake. Greed is one of the worst things to deal with emotionally when trading. Doesn’t matter how good or bad your day is going. You always think you can squeeze out a little bit more. Another big mistake is knowing when not to trade. Such as getting married or moving or something major on your mind. Trading is such a mind game. Links: Uber Eats: https://partners.uber.com/i/davep13196ue
We are trying something new, so your feedback is certainly welcomed and wanted! In this episode, Chezz and I discuss a recent event that caught fire in the headlines. Perhaps you are aware, but if not, the website OptionSellers.com got extremely careless with their client’s money and ended up creating a massive… we’ll call it… “problem”… for those who trusted them. The entire topic created several rabbit holes of learning and consideration that I believe we can all benefit from. Whether that be for someone like myself where the lessons learned are a “reminder” or for new traders that may never have considered the discussion points we talk about. Bottom line, I believe this format has some potential in the future, so I hope you enjoy and get something from it. Like I said, your feedback would be much appreciated.
Nothing like watching $1,000 disappear down the toilet with the time span of two weeks. Have you been there? I know I have when I first got started. In many ways, it’s a rite of passage to watch your own money go “poof” when you first start trading. It does not need to be that way, assuming you take the proper steps, but most people (again, myself included) don’t take the proper steps and experience pain. Fellow community member Diego shares with us his initial impressions of the market and how he thought it was all gambling. The mindset lead to headaches up front, but what did Diego do to make changes? How was his journey since pivoted? We talk about that and much more thanks to the honesty and bluntness Diego is willing to provide. Notes: Today we speak with community member Diego. His introduction to the market was fairly recently. He thought that putting money in the market was the equivalent to gambling until he started to do some research. He funded a $1,000 account with the idea that if he were to lose it all it was no big deal. That account had a short life span of about 2 weeks. He attributes this to the large commissions that his offshore broker was charging. Diego opened another account with more capital with a slower growth strategy. Unfortunately that sneaky voice of greed in our heads led him to think that this slow growth was not fast enough. Trading was meant to be the bridge between the money he had currently and the money required to invest in real estate where he lived. While everything was on target it was just not at the speed he wanted. After investing in his education and learning more about options trading, he thought this might be a better use of capital. Ambition cuts both ways. Since Diego wanted to fast track his progress he was consuming massive amounts of education in a very short period of time. He gave himself 6 months to get ‘educated’ but only made it 3 weeks before live trading again. Clay and Chezz suggest that Diego focus on advanced options because it sounds like it would suit his personality the best. Quotes: I didn’t know what made the prices go up or go down. I just heard the horror stories of people losing a lot of money. All the videos I watched were successful videos… they showed you what happens when you win and I thought I could duplicate that. Those greedy voices in my head told me that I could be growing my account faster if I was past the pattern day trader rule. I’ve alwys been the guy to wing it. Do some research and I’ll be able to pick it up after a little bit. Looking back, that’s not the right approach to the market. As soon as I got into a trade I’d basically forget everything I learned and ride the high…
It all started with betting on sports. From that point forward, the pieces fell into place that allowed for a transition into the stock market and trading. Our guest, Burak (same name in the chat room) walks us through his journey of transitioning from sports to trading. The one benefit Burak had in his favor was he never treated sport’s betting as a random gamble. He approached it in a very methodical way which he wisely then carried over to his trading ambitions. Even if you don’t have any experience in betting on sports, there is still many nuggets of knowledge to collect from his experience. As someone who has never bet on sports, I really appreciated the business aspect of how he treated both like a business and not a gambling addiction (which unfortunately, many people do). There’s lots to see and learn from Burak, so let’s get to it! Notes: Today we speak with Burak who goes by the same alias in the community. He spent some time in college sports betting which taught him the importance of risk versus reward and managing your bankroll. After dabbling in the market with smaller amounts of money in more risky names, Burak started to invest in his education on top of all the information he acquired from YouTube and Google. Being someone who loves statistics, he originally leaned toward the algorithmic or automated trading. Ultimately he wanted to improve his day trading and had enjoyed trading the forex market. In the beginning of 2018, Burak joined Claytrader University because he honestly felt like it was a value buy with the amount of content you get versus the cost. Since his job is so demanding, Burak is focused strictly on swing trading. While he hasn’t investigated advanced options yet, Clay and Chezz ultimately suggest he takes a look because we consider it to be ‘swing trading with an edge.’ There are quite a few things that distinguish successful traders from those who fail. Burak treats this as a business and has an entire business plan outlined in terms of what he looks for regarding entries, exits, and in progress management. It’s consistent effort like this that distinguishes who succeeds and who does not. Quotes: It wasn’t until college where I was gambling a lot on sports betting. It has some relations to the stock market in terms of knowing your risk and knowing your reward. The first part was understanding technical analysis. The second part was the psychology part of it which I didn’t know about. In the back of my mind I always wanted to get back into day trading. I like forex. It’s 24 hours. I use full leverage but I have my stop losses set at a certain percentage so no matter what I don’t lose my whole account in one trade.
I still can’t quite put my finger on it, but the way self-awareness as a person and trader was presented and explained truly intrigued me. Our guest, Wojtek (chatroom alias ‘Surlymac’), started out with dollar signs in his eyes and wanting the good life. As he will explain, in very self-aware fashion, this lead him to become blinded to logic and reasoning. When logic and reason go out the window because of greed, this opens up the emotional box of demons… the big one for Wojtek being stress. In fact, as I write this and think about it, the way he described his situation is that of absolute misery… ugh! If you take nothing else away from the interview, please take away the power of being honest with yourself when reflecting. It becomes much easier to fix things when you acknowledge them. I know you’ll enjoy this discussion, so let’s get to it! Notes: Today we interview community member Wojtek who goes by Surlymac in the community. After looking for some more ways to earn money, Surly ended up finding ‘gurus’ who pitched their wonderful lives as a result of trading penny stocks. After falling prey to the Stocktwits group think trap, he was broken both mentally and financially after a string of losers. He had heard of Clay and his nonexistent ‘shorting army’ shortly after this and he figured that if he couldn’t beat them, join them. After talking with Chezz and finding out that shorting army did not exist, he still decided to join the community. After a few days as a member, he enrolled in the University program. While he was learning a lot, this actually made him more dangerous in terms of trading. He knew enough to think he had solid plans but still wasn’t able to see the larger picture of what trading really entails. Surly eventually realized that trading advanced options fit the best with his personality because he could define his risk from onset of a trade. This allows him to sleep easy at night knowing that even if the market completely collapses over night, his max loss is capped at a level he is comfortable with. Along with finding strategies that work best for him and his personality, Surly now focuses on a smaller basket of stocks to focus on and this leads to a higher success rate for his trading. Realizing that success does not come overnight, he understands that consistency is what ultimately wins the game. Quotes: I was sitting on Google looking for easy ways to make money. Lots of videos with Lamborghini’s promising millions. You presented information in a very dry way. This piqued my interest. Also, everyone hated you. I realized how much I didn’t know and how dangerous I was. Robotic Trading showed me that there is so much beyond just one course. One of the big things I took away from last year was that I have time. I don’t like to see red. If it’s within the trade plan, don’t react. When I first started I was anxious, excited, fearful, joyful, the full gambit. Today, trading is incredibly boring.
We have ourselves a two part episode and as a fair warning, if you are someone who loves excuses and/or carries around a pocket full of victim cards, you will NOT enjoy this discussion. In fact, as I type this up and reflect back on the lawn mower, the tornado, and many other things, I can feel my adrenaline beginning to flow in a “let’s go!” type of way, this interview genuinely got me fired up in a good way. Chezz and I had no intentions of a two part episode, but as we talked with community member Brian, things were too good to just not keep on talking. I don’t want to spoil anything other than offer up that fair warning. If you are still reading this, I’d assume you are ready to get some cold hard truth about “making it happen”.. so let’s do this! Notes: Today we interview community member Brian. His introduction to the market was a stock market competition in grade school which he also beat everyone out of the entire state. With careful budgeting, Brian and his wife have set up a separate account that they call the ‘financial freedom account.’ It is strictly to be used for ventures that can expand their income. Since Brian is a teacher, he has the summers off. Instead of sitting around and doing nothing Brian went and bought a trailer, a good lawnmower and made money all summer before he joined the program here. A tornado unfortunately destroyed Brian’s house which led to a delay in his training but the good news is that everyone was okay. To help get back on track, both Brian and his wife got second jobs. Quotes: When I was in middle school I participated in a stock market competition… and I won it. I set up dummy email accounts and emailed you to see if you guys were consistent in your answers. I’m paranoid about scams. I’m probably doing too much too fast. I go to school, teach, then come home and watch the courses for hours. I have a whiteboard in my office that has paper trades I make. I was paper trading swing trading because my plan is to swing trade. Because I’m starting with a small account, if I have fake success papertrading and go live and lose it all then I have to start all over.
It’s been requested for quite some time, and here it is (I guess now is better than never?), my personal journey. I do my best to remember everything and start at the very beginning. At the end of the day, all I can really say is DO SOMETHING. Notes: Clay’s interest in numbers has been around since he was a child. From an early age, Clay’s family noticed his entrepreneurial talent and helped nurture that. It also helped that he is competitive and wants to win. A big moment in Clay’s life was happened he was a cart retriever at a grocery store. One time they were overwhelmed with work and one of the millionaire sons of the business offered to roll up his sleeves and help out. This opened up Clay’s eyes to the fact that you’re never too good to do the work required to grow/expand a business. If you couldn’t tell by now, Clay has been focused on making the numbers and math work in his favor. He worked multiple jobs and started his own business to bring in extra revenue while he was in college. Instead of going out and partying like most of this classmates, Clay decided to focus on the growing the business. It only took Clay one time to ‘fall in love’ with a penny stock and unfortunately take a 75% loss. However, this was a great learning experience for him and led him to investigate trading the market further. After putting out video charts on various tickers, he quickly became the most followed person on InvestorsHub. As time went on, Clay decided to see who was serious about learning technical analysis and launched the website. As time went on and the site grew he hired on a friend from his church who is now known to the community as IT-Nate. Shortly after, Chezz joined the team as well. Even after producing courses regarding the stock market and real estate, Clay’s true passion has always been the field of personal finance. That’s where the idea of www.MoneyWithClay.com came about. Quotes: The money just happens to be the scorecard of how well you are doing at this game of figuring out how the numbers work. It’s taught me that you’re never too good to do anything if something is going to help grow your business. I didn’t live the normal college experience because I chose to go down the path of working hard. I thought, the stock market? That’s for dweebs! That’s for geeks! That’s boring. I’d walk into a meeting and Don would say ‘Hey! Claytrader!’ That’s where the alias came from. Because I did something. Just do something. I don’t know what your something is but just do it. You never know where it may lead. My true passion is personal finance. I think the reason is that it is something everyone and anyone can do. Make sure you have control of your life. If you don’t have control of your own life, how are you going to control trading? Links: MoneyWithClay.com
It’s always enjoyable to catch up with past guests and hear about their journey as it continues to unfold. That’s exactly what Chezz and I do in this episode with longtime community member “Mr. Bee”. If you’ve spent any amount of time in the chatroom, I’m sure you’ve seen Mr. Bee at work. He’s come a long way since our last conversation with him as he learns and masters more areas of the market. The one aspect of our talk that I found intriguing and personally beneficial was how he approached increasing his personal risk tolerance within various strategies. Risk tolerance is critical component of trading success and it was awesome to hear Mr. Bee’s perspective and experience with it. I hope you enjoy this discussion as much as I did. Let’s go! Notes: Today we reinterview community member Mr. Bee. After picking up where we left off in his last episode, Bee had continued to focus on trading advanced options. The important thing to remember is that he stuck to the strategy in both good times and bad instead of jumping around to different strategies. A big turning point for him was developing the courage to trade ‘naked’ positions (all of which are explained in the course). Considering there are many mechanics to keep in mind when utilizing trading this way, Bee has always continued to try to learn more each and every month to get a better understanding. Mr. Bee has leveraged speaking to other community members heavily in the past 4 years since he started trading. The ability to bounce ideas off of other members with no agenda can provide some real insight as to potential problems in a trade idea. More eyes is generally better than less. As he continues trading into 2018, he fully accepts that he is a swing trader and wants to continue applying what he was taught even more often if the opportunities present themselves. Quotes: I really have a genuine interest in trading and options really opened that door up to me. There were days that my PnL didn’t make sense. It takes you down the rabbit hole in regards of what you can learn about trading. I butcher the order while changing it. I’m going long and this thing just starts bleeding to death. I took the loss. Had to do it. You can make enough money trading options using very little money. That’s what led me here. I’ve found a comfortable balance. I’m going to do a lot more charting in the evening since swing trading is my strategy. Links: https://claytrader.com/podcast/episode071/
While it is never planned ahead of time, once in a while throughout the course of a discussion it can turn into a coaching session. Thanks to the feedback you as listeners provide, I know many of you enjoy being a fly on the wall and observing the teaching and suggestions being made. This is exactly what happened in our conversation with longtime member Alex (same name in the chat room). He has been a member of our community for multiple years and his strong desire to succeed is what has kept him in the game this long. It’s by no means been a smooth ride, and as you’ll hear, is still a work in progress but he is finding a groove and Chezz and I were able to coach him a bit so he can keep the positive momentum going. I can confirm the momentum is still going strong and growing as this was recorded several weeks ago, and fast forwarding to present day, things are looking very bright! Notes: Today we reinterview community member Alex. He was one of the first 20 podcasts and has been a member for multiple years at this point. After a brief summary of where he came from, we dive into where he has gone since. Alex was a big buyer of options to start which means he had to focus on directional trading. Unfortunately, he was not able to do this successfully so he looked into option selling (which we cover in the Advanced Options Strategies Explained). He has been a big advocate of journaling and logging his trades in an effort to find how to improve his performance. Something we have noticed over the years is Alex’s ‘account protectionism.’ He doesn’t allow himself to take a meaningful amount of risk to generate a reward. Alex has an 88% success rate trading advanced options but that 12 % of losers have kept him from being profitable. Part of managing losing trades for this strategies is giving the trade more time but Alex emotionally closed half of those and never gave them a chance to recover. Quotes: I started to look at how Hooch successfully trades options and that is making a lot more sense to me now. I got frustrated when basic options would go my way and my gains would disappear. I was the only one stopped out on the trade example. After that, I went through Skill Sharpening again to learn to use price action. I have an 88% success rate but my p&l is red. 40 winners and 5 losers but those 5 are a doozy. Links: https://claytrader.com/podcast/episode017/
Before anything else, this is Part 2 of a multi-part interview, so if you want it all to make the most sense, then be sure to listen to episode 137 first. I’ve really enjoyed the feedback so far from Part 1 on the discussion as there have been several opinions and viewpoints that have arisen. I’m not saying anyone is wrong or right with their opinion, but what I am saying is it proves the point exactly about how “risk” can be perceived in different ways depending on the overarching context that surrounds it. Thanks to our guest’s (Carl from the chat room) candor and openness, we can still how the idea and concepts of risk continued to influence him to always be self aware and on the offense about this very important aspect of trading. If you enjoyed Part 1, then there is no doubt you’ll enjoy Part 2, so let’s once again get this party started! Notes: While he originally joined the program to strictly learn how to trade options, he eventually branched out and decided to learn various strategies for trading so that he wouldn’t become a ‘one trick pony.’ Carl talks about his successes and failures trying to trade a brand new strategy but has a detailed plan about how he wants to proceed into the future. Having 1000+ trades with his volatility strategy, he executes quite effortlessly but now he is learning brand new strategies to expand. Considering he has been in charge of his income since the early age of 12, Carl is big on efficiency. He is very conscious about his usage of time since that is limited every day. Clay suggests that Carl look into Advanced Options but Chezz brings up the fact that personality plays a large role in finding where you fit in the ‘trading world.’ While they have the high hit rate that he is used too, they are not active enough to hold his attention. Quotes: Because I didn’t understand what I was doing, I bought 2000 contracts that expired for a 12,000 dollar loss. I knew it was going up but I didn’t have a great idea where the profit might be. I thought, green is green. Hard work will get you far in life. I have a reasonable amount of emotional control and not scared of working hard.
If you’re a long time listener, then you know the topic of ‘risk’ has come up on…well… more than one occasion. This is once again the case, but with a little bit different of a twist that does an excellent job of illustrating and explain just how risk in and of itself is subjective. Chezz and I interview Carl (same name if trading room) about his journey which has been quite the journey. So much so, this is a two-part episode… there is lots to cover! From being a business owner to getting interested and then involved in the markets, there are many experiences we can all learn from so let’s get to it! Notes: Today we interview one of our newer members, Carl. He has always been hands-on and has launched several businesses but didn’t like the randomness of the stock market so he stayed away from it. Initially, Carl had no interest in the stock market but after investigating ways to have a 3rd income, he came around to it. He initially started using Robinhood but got annoyed with the pattern day trade rules so he left and went to Interactive Brokers and funded an account well over the 25k amount. After doing some research into UVXY and other volatility products, he strictly traded those products for quite a long time and became familiar with its daily moves and how it reacts to various market cycles. Carl took a massive drawdown both unrealized and realized but this was part of his strategy from the onset. He’s done his backtesting and knows what his account can stomach in terms of volatility. Regardless of him using stop losses or not, if his entire account was to blow up in catastrophic fashion, it would not impact his livelihood. That trading account could go to 0 and his family and himself would be completely fine since he has multiple streams of income. As Carl continued to expand his trading knowledge, he kept stumbling across people who would sell options against volatility tickers he traded. After purchasing a book about options he realized he wanted a more interactive approach to learn them and joined Claytrader University. Quotes: We started our first company when I was 12 and you have to have taxable income to fund an IRA so that’s what we did. I didn’t even have a clue of what I didn’t know. Granted, I do a lot of reading. I did the shotgun approach until it stopped working. Every position I took a loss on turned into a winner. I ended up being right. I realized that’s not a sustainable approach. I bought this green book about options. The book was awfully dry and I couldn’t ask any questions so I joined CTU.
This interview made me laugh for sure. Not in a mean way, but rather in a “I can relate” type way. Did I ever go as far as our guest? No… he took things to a whole new level when it comes to going down the penny stock rabbit hole. Our guest is community member Jeff (“Crestronwizard” in the chat room) is an open book about his journey which reveals all sorts of nuggets of experience that can be used as learning points for us all… myself and Chezz included! Jeff is now a full time trader and the way he got there demonstrates an excellent talking point regarding WHEN and WHAT it takes to actually go full time in trading. From penny stock koolaid to now being a full time trader, it’s been quite the journey! Notes: Today we interview Jeff a.k.a. Crestronwizard in the community. He installed and coded for some various audio systems and during a job, he met a successful day trader and started to watch over his shoulder. After his introduction to this gentleman, he started to meet other traders throughout the industry but it wasn’t until quite a few years later that he got interested in utilizing charts. He didn’t trade much from 2005-2007 while his trading was mixed at best. He decided to focus on his business strictly. When he came back to trading he actually traded some penny stocks and took some money out of the market (sort of). He actually ‘drank the koolaid’ so much that he became a distributor for this company and was selling it on his own website and Amazon. After Jeff’s experience with penny stocks, he decided to learn options and while he had months of profitability, overall he ended up losing money because he wasn’t consistent with his sizing. Jeff has a game plan on transitioning to full-time trading. There is a big difference between someone who takes the leap to go full time and has no savings or has taken no preparation. Jeff is on the opposite side of the coin. This has been coming together for multiple years, and his goal is multiple income streams. Quotes: When I get into some things, I get in big. I met a daytrader who turned a small sum into 50-60 million and that’s what introduced me. One of the employees took 23 million dollars off the top and after they started investigating, the person in question took his own life. They had real products and I ended up becoming a distributor for this penny stock. I bought 2 pallets of this stuff. I was trading far out of the money and the other issue was ‘stepping up to go big.’ I went from 1, 2, 3 contracts to 20. Being able to know when something is going the wrong way and to get out. I’m not scared to do that anymore. It’s your emotions versus 100 million other emotions that are in the market at the same time. It’s a big chess game.
I recently got an entire new trading computer that was a custom build. The person I used to build it is the “techie on staff” – itNate as we call him. He is essentially like Batman as he usually is operating in the shadows of the site doing all the behind-the-scenes stuff….. however, today he’s stepping into the light to talk about computer stuff and why/what he chose for my new computer. Our esteemed cohost Chezz is also quite tech savvy, so him and itNate has plenty to talk about as I listed and asked newbie questions. If you are thinking about getting a new trading computer or perhaps doing a bit of upgrading, this discussion will please you I’m sure. Notes: Today we interview our IT guru, Nate. We discuss the logical order for building a Computer. Step 1: Pick your processor. Nate recommends a Core i7 7700K but remember, there is always updated processors every few months. The big emphasis would be to focus on an i7 over an i3 or i5. We are big advocates of Intel over AMD based on our personal use. Step 2: Pick your motherboard. Things to focus on include making sure your socket type is compatible with your processor (CPU). You’ll need to forecast how many video cards you may need and this will be based on how many monitors you plan on having. 2 video card slots is pretty standard and will cover almost everyone’s needs. Nate purchased a MSI Arsenal Intel Z 270M board for Clay’s most recent build. Step 3: Monitors. We have a deep discussion on how many monitors you think you will need. We are firm believers that less is more. Clay and Chezz rarely use more than 2 monitors for trading. Monitors are also the easiest thing to upgrade and add in the future so if you’re budget is tight, start with 1 and expand later. Nate picked out Dell 4k 27” screens. Model # P2715Q Step 4: Video card. Nate picked a PNY Quadro K1200 which handles all of Clay’s 4k monitors. While you don’t need a gaming graphics card to handle trading, you just need to do some long term forecasting regarding what you will be using the computer for. Workstation video cards will be absolutely fine for trading. We also highly recommend Nvidia cards over AMD. Step 5: Memory. Your motherboard will determine what specific speeds you need for your RAM. We recommend never going below 8 gigs of RAM and 16+ will set you up for ‘future proofing’ the build. The new standard is DDR4 and it is also recommended if you ever upgrade in the future keep it the same brand, same model. You want complete compatibility when it comes to memory. Step 6: Storage. We recommend solid state drives (SSD) since they make programs and windows load many multiples faster. While traditional hard drives (HDD) are a good amount cheaper, they are more prone to crashes and as stated above, much slower in terms of loading programs. Step 7: Case. These typically don’t matter as long as you get the size that your motherboard requires. Nate used a micro ATX motherboard so he got Clay a micro ATX case. Step 8: Power supply. PCPartPicker can help you estimate what the power draw will be based on your components so as long as you get one that sufficiently meets the needs, you will be fine. Ex. Your components use 400w of power. Buying a 500W power supply would be more than enough. Step 9: Operating System. You will want to get a 64bit operating system as that is the new standard. We are content to recommend Windows 10 since it has been out for a while and has patched any major issues. Trading platforms are mainly focused on Windows over Apple since a majority of their user base uses Windows. Additional: Uninterruptible Power Supply. This is what we call an insurance policy. If the power goes while you are actively trading and your power goes out, you’re out of luck and better hope you can get on the phone to call a brokerage to close your trades. We prefer to have power supplied from this power supply (UPS) to give us 15 minutes of battery power to close our trades and not have to deal with the headache of literally being in the dark. Computer Parts: Processor: Intel Core i7 i7-7700K – http://amzn.to/2tsWuoB Motherboard: MSI Z270M MORTAR – http://amzn.to/2ttaTkT Memory: Ballistix Sport LT 16GB – http://amzn.to/2tti7Fq SSD: Samsung 960 PRO Series – http://amzn.to/2usGrUC Optical: ASUS DRW-24F1ST – http://amzn.to/2tyA7yF Video: NVIDIA Quadro K1200 – http://amzn.to/2sKzuCc Power: Corsair CX430 – http://amzn.to/2ttbovh Case: Antec VSK3000E – http://amzn.to/2tyjhzT OS: Windows 10 – http://amzn.to/2tsWKnz Links: Video: How To Build A Trade Computer https://www.cpubenchmark.net/ http://www.pcpartpicker.com/
We’re at it again! Our 2nd ever in person video podcast. The special little twist this time is I’m checking in with our esteemed co-host “Chezz”. He was the guest on episode #1, so yeah, it’s been awhile since we’ve gotten an update on his trading journey in the markets. We talk about an abundance of issues including how important it is to factor in “life events” with trading goals. Chezz and I talk about what I believe to be very practical tips and considerations that need to be made in order to assist yourself in improving as a trader most efficiently. If you normally listen to the podcast, be sure to check out our YouTube channel or show notes page to watch the video. Notes: Today we interview Chezz, the cohost of the podcast while we were in Columbus for a community meetup. We pick up the story from 2 years ago when he did his first podcast. To summarize, Chezz quit his job and decided to trade full time after going through the courses and paper traded for many months. He directionally traded long options but struggled with the fact that he may loser 7 out of 10 trades. While he didn’t blow up his account, he mentally struggled with the success rate. Chezz would go through 6+ hours of content at a day at a minimum and it was definitely overload. You need to pace yourself as you venture into something new. You can’t learn a brand new trade overnight and everyone will take a different amount of time to digest what is taught. After giving forex a try, Chezz started trading advanced options. While he was finding success, he wasn’t pleased with the returns. Waiting 21 days for a trade to play out to make a few hundred dollars didn’t seem like a feasible way to make a living. This led him to trade futures for faster returns. That futures account he funded was strictly to pay for bills related to his wedding. While he almost doubled that account, he took a big string of losers when the market was in consolidation and he says the best thing he ever did was stop trading a few weeks prior to the wedding. Big life events will affect your trading especially if you tie those funds to a tangible purchase you’re trying to make. Your trading capital should be looked at as working capital and that’s it. Chezz is back to trading advanced options since he’s always found the most success with that vehicle and his confidence comes from understanding how to spot trades and how to manage trades that go wrong. Quotes: “I realized I needed something with structure and closed my SureTrader account to pour the remainder of it into my education.” “I had trouble accepting I was wrong 70% of the time. Mentally I couldn’t handle it.” “I promise you that big events in your life will affect trading. It sits in the back of your mind and makes you do foolish things.” “Foolish me, I’m either going to blow this account up or I’m going to recover. Stupidest trading I’ve ever done.” “Recognizing that it’s a numbers game helped me overcome the recency effect. It still sucks to lose money but it’s the long game.” Links: https://claytrader.com/podcast/episode001/
This is Part 2 of a two part interview, so for the best listening experience, be sure to go back and listen to episode 114 first. Chezz and I pick up right where we left off with tfletch and the craziness continues. With that being said, things begin to calm down too as we learn about how he is now putting everything he has learned into a sustainable and consistent trading plan. He had to learn a tough lesson when first going live with a bit of false confidence, but his self-awareness and lack of ego allowed for him to quickly realize “what” the issues was. When you know what the issue is, implementing a solution becomes much less of a challenge. Like Part 1, there are several tid-bits of great wisdom from experience dropped that everyone can learn from. Notes: After going through the courses at Claytrader University, he found that he struggled with paper trading because he wouldn’t pay as much attention as he normally would if he had a live position on. By no means does he advocate people cut their practice short but he personally struggled with it for the reason above. Tim now carries many positions to keep diversified and utilizes advanced options for this portfolio. The next step in his journey includes learning to trade futures with what he has already learned so now he is extensively studying the chart to learn the in’s and out’s of the product. Even though Tim thrives on fast paced environments (since he works primarily at auto auctions) he found that day trading just wasn’t possible to fit in his schedule just yet. In the future, possibly, but right now with how his current work schedule is, it’s just not possible. If Tim could go back and give himself one piece of advice it would have been to start sooner. He recommends if you’re a young guy or any age really, buckle down, work hard and accumulate money while at the same time focus on your education. Within a few years you will have quite a large knowledge base and have the largest chance at success in trading. Quotes: “I have to tell myself if I’m going to carry 30 positions and they will all be in my favor, you’re nuts. There are always problem children.” “I think it’s as important to learn what not to do as it is to learn what to do.” “I want to be totally comfortable day trading before I commit to it but I’m not there yet.” “Develop a plan. Say ‘this is where I want to be at this point and this is where I want to be at this point’. “
For you longer time listeners, you know nothing gets Chezz or myself fired up more than someone who “takes action” and offers no excuses… particularly when it comes to finding money to use to trade. Our guest from the chat room, Brandon (alias in room “bfaust25”), shares a journey filled with many ups and downs. The common theme however is due to Brandon’s awesome attitude which has allowed him (and continues to allow him) to get up whenever he may get knocked down. Brandon is a shining example of just how powerful the combination of attitude + work ethic can be. My guess is after listening, you’ll be ready to pick up a few part time jobs! Notes: Brandon’s introduction the market was his father-in-law who suggested he put in $200 a month from his paycheck into a brokerage account so he would have a decent size account in the future to use. He decided to focus on sector ETFs. From what he had read, he knew that market crashes were a great time to get invested in the market at a discount price. He was able to capitalize on that during 2008 and 2009. Brandon did a lot of research on selling options and decided to save up for another account to try that. The problem is, he still had no tool to forecast which direction the stocks/market would go. He grasped the concept of being directionally neutral but he knew there must be a way to figure out general direction. He looked into technical analysis and that’s when he found Clay and invested in his education. After he took a few courses, he rolled into Claytrader University where he discovered that there is quite a story in all charts and with that, there is many moving parts that need to be understood. After going through the courses, Brandon completely changed his tune from selling option premium to buying option premium and using charts. He unfortunately let his emotions and greed get involved after this which led to a downtrend in his account value. He struggled for a bit to grasp how to trade long options based on the underlying movement. These things all take time and take practice. This led to some frustration and disappointment so he took a step back. During this time, he learned how to properly prepare his family’s budget. Brandon has now picked up a few part time jobs to continuously fund his account and while he does that he is paper trading short options combining what he learned initially with what he has now learned technically. Quotes: “I read some Warren Buffett books. I was more in an investment mindset instead of trading.” “Now there is only 1 problem. I don’t know what way the stock price is going to go. Those guys are cool and all but there is a disconnect.” “I completely avoided risk management and didn’t use it. I pretty much blew that entire account over time.” “I took a huge step back. I took the Cash Flow Creation Guide and I needed to hear that. I needed the discipline.” Links: Course: The Cash Flow Creation Guide
We’ve decided to push the bounds of the podcast a bit and try something new… a VIDEO interview. I would not call it flawless, but the early feedback for those that attended it live was still positive. As weird as it may sounds, I’ve become good enough friends with a member from our community, Nate Wilson, to have invited to my house where we recorded this episode. He has been on two previous podcasts, but Chezz and I wanted to touch base with him and hear about how his trading has been unfolding. In fact, he literally traded my account the morning we recorded this, so we talked about that a bit in the interview. I’d highly recommend “watching” this one instead of “listening” to it, but do what you gotta do. Notes: In this live episode we have guest Nate Wilson with us and we compile some questions from the community to ask him. Many of our members trade options and wondered why Nate does not. He prefers the simplicity of day trading equities and considering no two traders trade the same, it is all about finding where your comfort level is. He has no need to branch out considering his success with his current strategy. We discuss the detriment of counting how many days you’ve made profits and how it should be avoided. Every day is a clean sheet and needs to be treated that way otherwise you will be making irrational decisions based on previous days performance. Nate discusses how he turned the corner and became more consistent. He reduced his position size and this helped him logically manage trades instead of just going all in at one shot. Smaller risk helps you stay focused on managing trades correctly since you are more comfortable. After watching Wolf of Wallstreet, Nate utilized his background in fundamental analysis to invest in marijuana stocks. This led him down the path of message boards and he started to buy into the hype. This is when he found Clay’s chart analysis videos. Nate is always looking to improve mainly with his entries. Picking quality entry points is not always the easiest and we are always trying to make sure we don’t force an entry at a non-ideal location. Quotes: “I looked at options for a little while and realized I didn’t like it. I prefer the fast in and out day trading of equities.” “If I revenge trade, I will literally get up from the computer and go talk with a coworker to get away from forcing trades.” “If you can’t manage your personal finances, don’t bother trying to trade. It’s a business.” “I totally got suckered in. I had no idea what was going on but they would say ‘BOOM! News is coming out!’ “ “I always want to constantly improve on picking a quality entry instead of forcing an entry. It’s a struggle.” Links: Video: 64 Trading Days – 2 Losing Days Blog: How I Ruined My Month
For you long time listeners of the show, Shawn is well known “as that lady who took $250 and turned it into over $10,000”. If you are a member of the private chat room community, then I’m sure you’ve seen Shawn or perhaps even interacted with her. Well, she’s back for another interview so that Chezz and I can check in with her and see how things have been going. What I loved is that despite her continued success trading, she has a few “other things” going on in her grand plan that make trading a bit more mentally easy. On top of that, she is a master at staying in tune with her emotions which is vital for us as traders. All sorts of good stuff and we’re excited to bring it to you! Notes: In this week’s episode, we revisit with Shawn who we interviewed this previous year. After a brief recap of her journey up to this point, we dive into her more recent trading endeavors. She stresses the importance of practice and how it was instrumental in helping her turn her trading around. After going through how she grew her watchlist from 2 tickers to a handful, Shawn tells us the process she used to learn how to spot what tickers work better for her with options or straight up stock. When she started trading, Shawn focused on small monetary goals that would lead her to earn more than the bank could offer. Since then, she has learned how to let her runners run to their logical conclusion and extract more profit out of trades that go in her favor. Shawn believes it is crucial to be in tune with yourself if you are trading the market. She recommends writing down the emotions you are feeling whether good or bad and taking a hard look at how to resolve them or make sure they don’t interfere with trading. Members of the community chime in some questions for Shawn. This includes what time frames she uses, and some various ways she chooses her trades which includes the importance of liquidity. Quotes: “You get a million dollars on paper money and I thought ‘alright, I’m going to trade.’ I thought this would be simple.” “SPY and AAPL were the two that I got the feel for. I didn’t really pay attention to other names.” “If you’re not on your game, don’t press that buy button. That’s bad practice.” “It’s 3 things to me. Being in tune with yourself, risk versus rewards and stops. If you’re wrong, get out.” “You gave me the tools, I put the work in. I was very excited to personally thank you.” Links: https://claytrader.com/podcast/episode057/ https://claytrader.com/podcast/episode058/
My opening 2017 command, online !! Hope you will enjoy. 35th Deep Commandment music by: Edmondson, Jesse Bru, Duke Hugh, Chezz, S3A, Paradiso Rythm..and others lets deep deeper...
My opening 2017 command, online !! Hope you will enjoy. 35th Deep Commandment music by: Edmondson, Jesse Bru, Duke Hugh, Chezz, S3A, Paradiso Rythm..and others lets deep deeper...
Every single Monday for 100 weeks straight, we’ve put out a brand new episode… I would be a total liar if I said I thought that would happen when Chezz and I first began our podcast journey. Sure, I planned it would have success, but literally 100 weeks straight of new episodes? No way! With that being said, thank you to YOU, our listeners, for providing enough interest to keep the show going. In this special episode we bring back a couple of guests who are well known among the community and absolutely killing it with their trading. We all just sit back, shoot the breeze, and let the conversation take us down rabbit holes and whatever topics we want. Thanks again to all you listeners and we look forward to another 100 episodes! Notes: In this special episode we have two staple community members on with us, Shawn and h00ch. This podcast will be much more off the cuff than our usual structure since we have interviews with both the guests already. A common problem we encounter here is that people want to quickly double their money. During the discussion, it becomes very clear that there is no ‘one size fits all’ and while some people fall into quick riches, that fools gold is generally quickly lost. Learning to trade is a journey and becoming consistent is part of that journey. We have a good discussion regarding penny stocks versus options. Both Shawn and h00ch have transitioned from penny stocks to options for the various benefits that are discussed. It makes a strong case on why you may want to consider trading options instead of penny stocks. Going back down memory lane, we each list our favorite moments from the past 99 episodes. We get quite a diverse set of answers from everyone and we look forward to 100 more podcasts! Quotes: “This is not a ‘get rich quick scheme.’ You have to be smart. There are bigger dogs out there not afraid to take your money.” “You press the buy and sell button. Nobody else is pushing that button for you. You are completely responsible for what happens.” “If you want that kind of fun you’re better off going to Niagara Falls to hit the casino.” “They think penny stocks are their only hope for a small account. Don’t think it’s either penny stocks or bigger stocks.” “I originally got a part time job to take the pressure off myself so that my needs would be met in order for me to not force a trade.”
Being wealthy is something we all dream of. I say this with complete confidence because I define “wealthy” a much different way than many may. To be honest though, even if you want to be wealthy in the sense of driving a Rolls Royce, there are some initial steps that you must take in order to make that dream a reality. Whether you acknowledge it or not, there is one fact that we ALL have in common… we’re all a CEO. While that may not make much sense now, I promise you it will after you’re done listening to this podcast. Notes: In today’s podcast, Clay and Chezz discuss personal finances and the power of a budget. The goal of this entire podcast is to help reduce your stress with a set of good habits and routines. The foundation for all wealth building, no matter what avenue you take (stock market, business ownership, etc) is going to be your budget. You are the king of your castle in the sense of you are in charge of your spending decisions. Your budget will be able to tell you what is financially responsible and what is not while helping you target your longer term goals. Another way to create peace of mind is growing a ‘rainy day fund.’ Setbacks happen in life (your car breaks, furnace stops working, unexpected medical expenses) but if you have prepared in advance for when Murphy strikes, this can alleviate your stress greatly because you were ready for whatever the world threw at you. Clay brings up a great point about choice of college and career choices. Please do the math and budget to help determine what your potential salary will be versus your college loans that you will be paying for years. More often than not, you can find a comparable school that will offer the same degree for a lower cost. The power of a budget can help you achieve your long term goals and it really is as simple as addition and subtraction. Take some steps and a hard look at your income stream versus your spending and start to be the CEO of your financial future. Quotes: “To me, wealth is the ability to sleep. If you can lay in bed at night and have no worries, that’s a beautiful thing.” “You become the CEO of your finances. We are all CEOs of our own personal life.” “Get organized with your personal finances and odds are you will have money leftover. That leftover money can be put into investments.” “It’s a list of priorities specifically. Now I always bring up is ‘is this money better on a purchase or better for the land fund?’ “ “Once you get a job, you see this sparkly new paycheck and you think ‘wow, I’ve waited so long to have money’ and I threw it around.” “How does it know it’s not in the cards? Because he has a budget. Because he’s organized. Because he’s CEO of his life.” Links: Course: Cash Flow Creation Guide Mint: https://www.mint.com/ You Need A Budget: https://www.youneedabudget.com/
I really enjoyed this interview because it was a change of pace (in a good way). We’ve had many guests who rant and rave about the power of options, which is true for sure, however our guest (minor spoiler) was not a huge fan and chose another trading opportunity: Forex (the trading of currencies). Chezz and I sit down with community member Jaime and hear all about his journey with options and why he ultimately chose to take another path. What caught his eye about Forex? How is he doing with it? We cover that and much more in this refreshing interview. Notes: Jaime’s introduction the market was a co worker who traded penny stocks. After watching him trade for some time, Jaime opened up a brokerage account to ‘dabble’ himself. His first few trades turned into investments in the hold and hope fashion. Jaime also only focused on playing the long side and avoided the short side (where he thinks the price would go down for profit). After sitting in a few tickers for a while with very little movement, Jaime wised up and decided to take a few years off before returning to the market with the goal of avoiding penny stocks. He wanted to focus on some larger names that actually had good liquidity. While Jaime began focusing on high volume options he unfortunately did not have a true risk management strategy yet. After learning about the nuances of options including the greeks, he started to realize all the things he was fighting when he first started trading them. This led him to the Forex course offered here which opened his eyes to the opportunities available for him (especially since there is no pattern day trader rules). Jaime practiced for a month before going live and has been doing very well since going live to the tune of tripling his account value. The glaring differences between his old trading and how he trades now is his outlook on risk management. Now, instead of focusing on only recouping his losses, which makes him greedy and stay in his winning trades too long, he willingly takes small losers because he knows that one winner will pay for many losers. This is the recipe for long term success and steady account growth. Quotes: “There was no strategy at all. Just going off of penny stock fundamentals which we all know is laughable.” “I was able to get out of most of my investments. For the most part, I wised up pretty quickly and decided to be done with it.” “There really was no risk mitigation or stop loss. Put some money in and it’s either going to go up or not.” “I’m at 50:1 leverage. I paper traded for a month and now trading live. I’ve done remarkably well. The chart just agrees with me.”
I’m not sure you could start out a trading journey any better than quadrupling your initial account. Trading chat room member Mike (“JustMike” alias) did exactly that when he first began. With such a strong opening act, was it all just rainbows and sweet old ladies for Mike, or were there some bumps to come? Thanks to Mike’s openness about everything, Chezz and I were offered up many friendly reminders on what should be and should not be done as a trader. There is no doubt in my mind this interview will entertain and educate you. Notes: Mike’s introduction to the market was a stock picking game that he participated in for college which sparked his interest in speculating in the market. After attending a seminar with a friend of his, they decided to get involved in Investools stock program they were offering which opened up Mike’s world to charting. He was fortunate to never have to go down the road of penny stocks. Even after being able to consistently achieve 10% returns on his trades, he was unhappy at the amount of profit and this would lead him to holding and ultimately losing on the trade. Unfortunately Mike struck some ‘fools gold’ which led to a big win on earnings. Now that he has quadrupled his account, he is trading all his newly acquired money. After thinking that earnings would be his ‘holy grail,’ Mike’s account went back to zero on one bad earnings trade. He started back with a small amount and decided to avoid earnings. Him and his family then relocated for a different job and it sparked his desire to get back into the market. While his technical analysis skills are pretty good, his risk management was not up to par yet. Mike and his wife moved to Chicago right before having their first child. He utilized the time he had while his wife was on maternity leave to paper trade for a solid 4 months before returning to the market on his live account. This led to him focusing on strict risk management. He has a very high win rate but his losers would wipe away those wins until he remedied the problem. Quotes: “We went and saw their pitch. It was a ‘follow our system’ approach. It was all charting from the beginning.” tweet this quote “The problem I had was that I would buy and even though I know 10% is a good return, I’d hold it and it would go down to zero.” tweet this quote “I got back into options, growing the account and taking some out whenever I could. I realized that I can do this.” tweet this quote “You just need to get used to pushing the buttons. You need to get used to seeing red on the screen. You have to get used to that.” tweet this quote “If I’m winning 4 out of every 5 trades, that 5th trade I refuse to admit being wrong. I would think I’m right it just hasn’t happened yet.” tweet this quote Links: Video: All Wins Are Not Created Equal
Chezz and I once again are venturing to the southern hemisphere to talk with a trader from Chile. I say “once again” because this is actually the second trader we’ve talked to from the country of Chile… pretty cool! Nicolas (chat room alias “Sazu”) takes us on a wild ride which starts with him basically knowing nothing about the market (which includes him thinking penny stocks are a “good idea”) and ends at a place many people want to be: trading full time from his own home. Notes: After going through college and getting into his first job, Nicolas realized right away that he would not be making enough money to make him happy. This led him to explore other options to supplement his income. He started to research value investing similar to how Warren Buffett decides what to buy. Realizing that fundamental research was a very slow and laborious process, he was unsure if this was the best for him. Nicolas spoke to a friend who steered him toward a shorter term trader who recommended checking out Claytrader.com . Nicolas took the Penny Stock Survival Guide and recognized right away that there were many downfalls and risks associated. This led him to follow Clay’s recommended course path and he then continued to invest in his education to become a trader, not investor. While Nicolas did take a string of losing trades, the most important part is that he kept them all extremely small! This allows your winning trades to easily wipe out many losses sometimes all at once. Nicolas’ workplace was also not very conducive for trading. He would constantly have people hovering around him asking him questions about it and he was kind enough to speak to them about it. However, this is an incredible amount of distraction which is not helpful for trading. Nicolas saved up a good sized account (and a year’s worth of expenses) and decided to work from home and trade for a living after that. Quotes: “I started researching Warren Buffett. I watched 3 course videos and read 3 books on value investing.” tweet this quote “This guy sent me lots of emails saying ‘get rich soon.’ I thought, get away from this guy and went to your website instead.” tweet this quote “I took my time and continued being patient. I just continued learning and watching videos imagining I was trading.” tweet this quote “I was waiting for the home run. I wrote down my mistakes and what I had to improve on after that.” tweet this quote
We’ve interviewed some members of the community who do not talk much in the chat room (totally fine, variety is a good thing!), but in this episode, Chezz and I get to hang out with a well known member, “Mr. Bee”. Unlike many other traders (myself included), Mr. Bee never struggled with the concept of admitting he was wrong and cutting a loser fast, but he found himself challenged with the other areas of trading all of which he shares with us. Along with this, he shares a very nice Jedi Mind Trick he uses to motivate his psychology to keep working hard. Mr. Bee was very open and honest creating an action packed interview with many gem learning points. Notes Mr. Bee had an interest in the market at a very young age but had a 15 year gap between that interest and his first investment in his education. With his current account value, Bee was forced to trade lower priced stocks until the options trading courses came out. This really helped show who in the community was disciplined in taking small losses and those who ‘held the bag.’ The good thing is that he has never had an issue with cutting losses fast. A great outlook on his trading concerns the idea that a trade is merely money gained or money lost which makes it easier for him to book losses quickly. Mr. Bee also believes in treating himself with his hard work from trading. The use of money earned trading helps solidify in his mind that his hard work is paying off. He is currently trading part time with his job but has aspirations to go full time in the next year. The beauty of the financial markets is that if you are proficient at trading them, you have the freedom to spend your time as you choose and Mr Bee. would much rather spend time with his family than at his 9-5 job. Quotes: “Trading is the same feeling as golf because it is something I don’t think anyone can master. But you can keep trying.” tweet this quote “All of us take losses and losses are a huge part of it. This is definitely not a game.” tweet this quote “I know that I’ve put the work in and see what is going to happen. My biggest struggle to this day is being patient.” tweet this quote “It’s always nice to fantasize about how big a win could have been. That’s where I kick myself more than a losing trade.” tweet this quote “I don’t personally like to keep the money in there like it’s a trade vault. I have to be able to reward myself with it.” tweet this quote Links: Course: The Trading Freedom Pathway
I give episode guest, Charlie, a lot of credit as he was willing to sit down with just me and be interviewed. Our co-host, Chezz, had other obligations, so Charlie got stuck with me… and he did great! His analogy and description about the emotion of greed was absolutely awesome and almost brought a tear to my eye! Charlie is one of the younger guests we’ve had on the show; however, in his very short journey thus far, he’s already experienced as much as some people who have been trading for years. Thanks to Charlie’s openness, there are many mistakes that we all can learn from (that don’t cost us any money!). Let’s go! Notes: Charlie had a real sense of urgency to be successful in life except he didn’t know what he wanted to be successful at. After working a few different jobs, he finally found one that he enjoyed but was still exploring what other opportunities are available. After stumbling on a stock picker website, his interest was piqued. After doing some exploration on Reddit and other free websites, Charlie frantically opened 3 brokerage accounts because the application process was taking too long at some other brokerages. He just wanted to get his money there and start trading ASAP. Charlie did do a good job of managing his risk by limiting the size he enter with on these penny stocks. He did get addicted to larger gains which led to the greed voice and we all know how that ends. He does realize that he got lucky and actually ended up making money on the year. Even though Charlie had made 2,000 dollars over the course of a year, he did not like the fact that he was dependent on Reddit for his trade ideas. If Reddit were to go down, he would not know how to find stocks to trade. This epiphany led him to realize that he needed how to learn to ‘fish’ on his own and that is when he decided to invest his profits into his education. Charlie recognizes that this trading journey is just that, a journey. This is not a get rich quick scheme and now with realistic expectations, Charlie is getting through the content and planning on pursuing paper trading so that his future profits can be a result of his hard work and not luck. Quotes: “You don’t know what this guy is talking about or what angle he’s taking. He just talks about this stock that will make you millions.” tweet this quote “My strategy was if someone’s talking about it it’s definitely going to go up because of hype. Hopefully get out before it plunges.” tweet this quote “I was thinking this was going to the moon. They were going to cure everything. I got in during the dump stage of that.” tweet this quote “Alright, it’s house money anyways. I made 2,000 bucks and spent it on education. Pretty cool how that works out.” tweet this quote “It’s easy to learn from other people’s mistakes rather than losing a bunch of money. It discourages you from doing something stupid.” tweet this quote
We close out our journey with chat room member “CPO” in Part 2 of his interview. We left off with him deciding to meet Chezz and I in Baltimore as he wasn’t too happy with the chat room experience thus far. Where did things go from here? CPO has learned quite a bit since then. His knowledge is now unfolding before his eyes in terms of feeling confident in not only build trading strategies that fit his personal risk tolerance levels, but in executing them. Once again, many nuggets of wisdom based on experience are shared thanks to CPO’s openness. Notes: CPO recognized that if he wants to trade some of these volatile tech names he should focus on how they move. With deliberate focus you can definitely learn how certain names move and what their ‘personality’ is. Considering CPO is unable to trade at work, he has started to look at the futures markets since they trade for about 23 hours of the day. He used to try to day trade regular equities and options during lunch on his phone from his car but he was tired of just forcing trades and seeing he would be stopped out later in the day. Market preparation is always key and CPO takes a few hours out of his day to prepare by reviewing the main tickers that he trades. He also stresses the point that learning how to read charts takes time. This combined with your trade plan and the ability to recognize when your trade plan loses its appeal allows him to take the excitement out of his trading and put the odds in his favor. Quotes: “I’m not actually trading against the market. I’m trading against other people just like me. I’m my own adversary.” tweet this quote “It’s really hard to day trade when you don’t have access to your trading platform while you are day trading.” tweet this quote “All indicators are just to cue you that you’re on the right track with your trade plan. It helps me make decisions.” tweet this quote
We have another two part episode as we dig into the journey of chat room member “CPO”. He has been on an adventurous ride ever since first being introduced into the markets. This included signing up for the chat room and not being too happy about it. In fact, he was still not very happy about it when he decided to come meet up with Chezz and I during our Baltimore Meet-and-Greet. How’d this meeting go? Did he choke me out with this knowledge from his SWAT Team training? We shall see… Notes: CPO had an interest in the market at a relatively young age but he believed he was unable to participate. He thought it was for big wigs on Wall Street. As he got older and transitioned into a new career, he was offered stock options, matching 401k contributions, and those are all great but he disliked the fact that he did not have a say in where the money was invested. He wanted more control over his finances. He was pleasantly surprised to find that he actually had a brokerage account sitting idle and decided that he would utilize this money to invest/trade with some knowledge he acquired from a book and google. The unfortunate thing about this trading account is that CPO had treated it like Monopoly money since he didn’t recognize that it was his hard earned dollars. After being unfamiliar with the pattern day trader rule, CPO was eventually flagged and this led to him not being able to day trade further in his account. He then went and opened a new account. The mistake he made at this time was that he was trying to trade alerts from the Inner Circle but wasn’t familiar with the alerts or strategies that are best suited to them. This led to losing trades and frustration. He had tried to reverse engineer the alerts but was unsuccessful. Since the Baltimore meet and greet was not far from where he was living, he decided to take a chance and come meet some fellow traders to hopefully learn something. Quotes: “All I know is I’m thinking long term. Put it in and watch it increase like my 401k. I bought 50 shares of Microsoft and Disney.” tweet this quote “Unfortunately, adrenaline in the market will sometimes cost you money.” tweet this quote “I think the worst place to be in is not knowing what you don’t know and being overconfident in what you do know.” tweet this quote “I was trying to rush into the market because I thought the market was going to leave me behind if I didn’t jump in.” tweet this quote Links: Course: The Trading Freedom Pathway
This interview causes me to revert back to being a little boy again as I thought it was pretty cool to get to talk with a “real life helicopter pilot”. Hopefully it isn’t too apparent in the interview! Anyways, talking with trading community member Micah was a great time and one filled with numerous ups and downs (pun intended!) that create some valuable learning opportunities for new and old traders alike. Notes: Micah had some friends who were making money day trading. Considering they had taken no formal education, he is under the assumption they were just getting lucky. Micah did not experience the same luck. After seeing Clay’s YouTube chart analysis, Micah decided to invest in his education and stop live trading immediately. He did need to take a huge loss in a petroleum penny stock before he saw the light though. Micah focuses primarily on a basket of 20 stocks that have good movement and volume so that he can generally find something that is tradable. He is utilizing options to trade directionally instead of stock (which is generally much cheaper from a cash flow standpoint). A large focus going forward is reducing the size of his losses since they are doing a good amount of damage to his profits. Considering his busy season is coming up, Clay and Chezz deduce that possibly using advanced option strategies may help him reduce his downside by setting his max loss in advance. Quotes: “I was doing the headline trading and reading up on everything but couldn’t understand it and lost quite a bit of money.” tweet this quote “I needed to completely stop trading. This money would be better spent on some sort of education.” tweet this quote “Now I just cut my losses and look at it again. Maybe this charts just not doing what it’s suppose to do.” tweet this quote “As I take the classes and it opens new doors who knows, maybe I will be trading forex or futures. I’m happy with options.” tweet this quote Links: Course: Options Trading Simplified Course: Advanced Options Trading
1. Blueberry Boogie (Original Mix) by Chezz 2. I Get Deeper (Original Mix) by Yume Kaneko 3. 3AM (Original Mix) by Alex Ranerro 4. Forever (Sven Tasnadi Remix) by Pazkal 5. Humanity (Original Mix) by Retrogroove 6. Sona (Terrence Terry Remix) by Apollonia 7. Everyday Of My Life (Original Mix) by Bonneti 8. A House Thing (Micky More & Andy Tee Deep Mix) by Paggi & Costanzi feat. Roland Clarke 9. Get Together (Original Mix) by Christo 10. The Craft (Original Mix) by Nic James 11. You Will Know (Instrumental Mix) by Borrowed Identidy www.ossomrecords.com DON’T KNOCK, THIS IS OSSOM.
Where has the time gone? I swear it was just last week that I was sweating bullets awaiting doing the first ever interview… and here we are, now at episode 50! Chezz and I take a look back at the history of the show and discuss some common themes that have arisen time and time again. When multiple guests have made mention of the same general concepts, we figured it was worth taking note of and mentioning so that hopefully you can learn from multiple people’s mistakes. Notes: In this episode, Clay and Chezz reflect over the past 50 episodes and touch on some recurring topics that are ‘rant’ worthy. This includes: What do you think about ticker XYZ? The importance of paper trading realistically. Growing a small account.Reluctance to invest in education and willingness to gamble ‘cautiously.’ Buy and sell alerts (which create dependency). There is no need to rush. The market will be there in the future. Quotes: “The more and more I learn about trading, the less and less I need anybody’s opinion.” tweet this quote “If you can’t buy 10,000 shares when you go to real money, don’t go to 10,000 shares when you are paper trading.” tweet this quote “You are a CEO. What are you a CEO of? Your personal finances. You are in charge of you.” tweet this quote “You wouldn’t go to a doctor for heart surgery who says, ‘I googled some stuff. It’s cheaper than going to school.’” tweet this quote “There is a big difference between alerting something that is in-play and how to play it. We all have different risk tolerance.” tweet this quote “Just keep practicing because the market will be there tomorrow, in 6 months, in 6 years. Your financial capital is finite.” tweet this quote Links: Video: The Worst Possible Question To Ask Video: The Surgeons Dilemma
We have almost done 50 episodes, but this interview is a first for both Chezz and I. Our guest, Tony (“elkhuntn” in the chat room), had his journey start by literally working for a penny stock company that was in the mining sector. Can you say “shady???” By getting an inside look at penny stocks, this gave Tony a very unique start to his journey which contains many twists and turns. It was an enjoyable interview that includes what I find to be very valuable nuggets of wisdom that can only be gained through experience. Notes: Tony worked for a very small mining company that was publicly traded and this is what led him to get interested in penny stocks. After losing a little bit of money, he decided to invest in his education and learned about penny stocks from Clay. After moving away from penny stocks, Tony hit some fools gold trading options right away but as most fools gold goes, he gave it back relatively fast. Even with some nice size gains on a few trades, just a few 100% losses in options completely wiped out his gains and then a majority of his account. Recognizing that he needed to focus on his strategy to emphasize consistency, Tony now has a set basket of options stocks he watches and utilizes the same setups over and over when he is able to be at the computer trading. Tony has time to trade in the morning before he starts work so he can focus on strictly day trading. With some self diagnoses, we determine that if he had only traded the morning session and skipped the rest of the day he would go from being red on the year to green. Less really is more in trading. Quotes: “Working at penny stock company, I pretty much quit trading penny stocks after better understanding how they worked.” tweet this quote “I have a hard time paper trading but if I take a really small positions I can at least be honest about it.” tweet this quote “I denied the losses at first. It didn’t slow me down like it should have. It should have been a red flag but it wasn’t.” tweet this quote “If I would just trade the first hour of the day, I would be green for the year.” tweet this quote Links: Course: The Penny Stock Survival Guide Video: About Pattern Day Trader Rules
Well… this episode may be ground breaking, or a total train wreck, but we’re about to find out. ClayTrader.com has officially been active for two years now, so I wanted to try something different to celebrate this event. Chezz and I decided to bring back some past/former guests and just shoot the breeze and talk about whatever topics organically popped up. We talk about everything from hateful emails to trade management to favorite memories thus far about the community. We all had a great time doing this, so I hope you enjoy it as much as we did! Notes: In this episode we are celebrating the 2 year anniversary of Claytrader.com . We have RD, Nate Wilson, and Doc as guests this week and will be discussing various topics we encounter in trading. Topics discussed in this episode include: Passing blame upon someone else instead of owning up to your decisions and mistakes. Liquidity problems in penny stocks, stocks, and options. The addiction that we call trading and the pitfalls of overtrading (and how to avoid it). The importance of a trade plan. How low the barrier to entry is for trading and how that hurts new traders who are uneducated and treat it like gambling. Our favorite memories from the Inner Circle over the past 2 years. Quotes: “I think he was hoping for Clay to wave his magic wand and make his problems disappear.” tweet this quote “You can buy it. Someone will be happy to sell it to you but good luck trying to get out of it.” tweet this quote “For me, winning streaks is like crack cocaine. It just gets to where I can’t get enough of it.” tweet this quote “There is more to a trade plan than ‘I’m going to buy and it will be a swing trade.’ That’s not a trade plan.” tweet this quote “There are zero shortcuts in this game but it’s been the most fulfilling and challenging thing I’ve done in my entire life.” tweet this quote
There is always a first, and that’s what chatroom member “JC” gave us in this interview. Thanks to his brutal honesty, he let us know that he was at a pretty rough patch at the exact time we were conducting the interview. This was very unique in the sense that Chezz and I were able to give him some “real time” feedback and suggestions to help guide him through this rough spot in his journey. I am very thankful JC was honest enough to share this as it gave us all a chance to truly witness the realities of how trading is not always sunshine and rainbows. Notes: JC’s dad was the first person to introduce him to the market. Another interesting fact is that his dad was interested in penny stocks so that is where JC started also. Unfortunately, JC blew up his account in the first trade he took. He ended up going back to work and refunding an account after a few months to try his hand at the market one more time. JC decided to investigate into education options and found a well known source but after finding out that their package cost around 18 thousand dollars, he decided to look elsewhere and eventually found Clay. After going through some courses, JC decided he wanted to keep practicing during the evenings after work. This led him to get interested in the forex market since it trades for almost 24 hours a day, 5 days a week. While he works full time, he is finding where he fits in his swing trading. He has now traded equities, forex, and options. JC tells us an interesting story about an options trade that goes bad and what subsequently happened to his forex account. Quotes: “My dad said if you just buy sub-pennies they got nowhere to go but up.” tweet this quote “My very first trade and I dump my entire account into this ticker before it dumped. I was all in and it was all gone.” tweet this quote “You’re just some regular guys. You’re not some overwhelming power of Lamborghini stock traders that say ‘this is the way it is.’ “ tweet this quote “The reason I traded forex was because it traded 24 hours and I could actively practice. It was more of a practicing tool to me.” tweet this quote “I was so emotional I could not make a rational decision.” tweet this quote Links: http://investorshub.advfn.com/ClayTradercom-27618/
I get short of breath just thinking about this interview. I promise I’m not exaggerating either, in fact, this was such a whirlwind of a journey that Chezz and I decided to divide it into two parts! Chat room member Patrick (“Paddy”) delves into all the nooks and crannies of his journey, and with such enthusiasm, it was easy to just sit back and listen with enjoyment. It took us a while to get him to agree to be interviewed, but wow… thank goodness he finally agreed! We’ve heard some crazy journeys already, but this journey has plenty of twists and turns to make your head spin. Brace yourself… Notes: Paddy’s introduction to the market was his father’s reaction the 1987 stock market crash after he suffered a substantial loss. He began trading in 2005 puppet trading options via a trading educator he found multiple years prior. Throughout the next 9 years Paddy would find various ‘gurus’ to help find trade ideas. While he did find some success he gave back all his gains and more. That is when he realized he needed to get educated. Quotes: “I never traded penny stocks. Every advertisement for penny stocks was a typical, skeevy, snake oil salesman approach.” tweet this quote “I have no concept of positions size so I’m making 30, 40,000 dollar trades because I had 4x margin.” tweet this quote “By the end of 2014 I went from 153k to 107k at eTrade. Almost half of what I lost was in commissions.” tweet this quote
Chezz and I sit down with Steven King (same name in the chat room) and hear about one of the craziest stories to date. In fact, the story is so crazy that I asked for verifiable documentation to support some of the claims being made. Becoming a high school dropout after turning $900 into $40,000 is just the start to a journey that truly covers some highs and lows of trader emotion. Despite making some extremely large amounts of money, you’ll be shocked to hear about the reality of the situation in terms of the emotions involved. Sit back and buckle your seat belt. This is one crazy ride journey with some very valuable insights and lesson’s learned. Notes: Steven had a strong desire to get rich dating all the way back to his time in high school. He dropped out in 10th grade after finding initial trading success. He got caught up in the lifestyle that accompanies coming into large amounts of money and faced many struggles to get back on his feet. After spending more than half of his profits, the IRS sent him a bill for 170,000 dollars to which he did not have anymore. He took a job on an oil rig, was able to pay off that bill and started to get his life back on track. After he finished getting his college degree he began trading again and realized the benefits of options. You can get the exponential returns penny stock players are used to while simultaneously being able to control your risk up front. Steven recognized that he needed to approach trading like a business. He formed a plan and now he sticks to it wholeheartedly. Quotes: “I started with 900 dollars and after I turned that into 40k I decided that there wasn’t a reason to keep going to school.” tweet this quote “Charts isn’t the hard part in trading. The hard part is the emotions. It’s the mental mindset, risk management, all those pieces.” tweet this quote “The worst day that I ever had in my life was the day that I made the most money. 283k dollars in 1 day but no one to share it with.” tweet this quote “If you have trouble sleeping at night because you’re worrying about your positions, you’re not managing your size correctly.” tweet this quote “If you can count to ten, you can be an amazing trader.” tweet this quote “The important thing is ‘why are you trading.’ Today I trade because I want to help people. I want to become a philanthropist.” tweet this quote “It’s all written down just like a business plan because this is a business. If you’re going to trade you do it like a business.” tweet this quote Links: Video: The Trade Plan Destroyer Video: The Stock Trader Career Zapper Course: Robotic Trading Course: Risk Vs Reward Trading Course: Options Trading Simplified Twitter: @stevenhking
In this episode we discuss a topic that is near the top of the most frequently asked questions when it comes to trading. Whether it be stocks, options, Forex, etc., many people want to know if their personal computer set-up is sufficient enough to get the job done in an efficient manner. In reality, this topic is actually quite tricky. How so? There is a balancing act that must take place in the sense of you don’t want to spend “too much” of your trading capital on a system that is more than you need; however, at the same time, you don’t want to spend “too little” on a system that won’t allow you to trade to your full potential. Chezz and myself have a free flowing discussion with Nate, the “geek” who works behind the scenes at ClayTrader.com, about this balancing act and other “techie” areas within the world of financial markets and trading. Notes: Clay started trading on a one-monitor setup during college. Your motherboard is the foundation of your trading computer. This will determine if you are capable of expanding in the future. Memory is a cheap and easy way to improve your computers multi-tasking once you start maxing out your current setup. Video cards are going to determine how many monitors your computer can run. There are a few routes you can take regarding initial setup or expansion. Benefits of a solid-state drive for your trading computer versus a traditional hard-disk drive. Any modern operating system will suit your trading machine assuming it has up-to-date support. USB monitors are great for those who travel and need to be portable. It is not the best option for those who trade at a desk. Quotes: “The processor and motherboard are going to be the main heart and soul of your computer.” tweet this quote “I think two monitors is the sweet spot especially if you are just getting started in trading.” tweet this quote “Dockable laptops are great because they are designed to be used at a desk with lots of monitors.” tweet this quote “People who trade on-the-go tend to favor brokers with great mobile apps.” tweet this quote Links: Build The Best Stock Trading Computer for Your Money 6 Multi Monitor Stock Trading Laptop Setups NVidia NVS Graphics Cards ClayTrader Resources ClayTrader Contact Nates Twitter: donky353
Today on The Stock Trading Reality Podcast I am excited to introduce my new show. I give a quick history of my idea behind the show and how it has now come to fruition. I also introduce my partner in this journey, who will be co-hosting, “Chezz”. This is someone I have had a close eye on ever since he joined my private trading group almost a year ago. Michael Chesna (“Chezz”) took the traditional route in his younger years of life. High school, college, and then eventually dead-end job. In 2014, he decided to take things into his own hands and determined the financial markets were a great way to do this. His journey began trading with bitcoin and penny stocks. After learning many valuable lessons along the way, he has now settled on weekly options trading. Stubbornness and persistence have kept him alive during the tough times most new traders face. In This Episode… ClayTrader discusses his background and introduction to the stock market. We discuss the purpose of the podcast. Chezz shares his pre-trading life from working in middle-management to moving across the country. How trading requires creativity to find what works for you. Chezz talks about drinking the Bitcoin and penny stock kool-aid. Making false assumtions about trading being too difficult. How a huge loss pushed Chezz towards education. Chezz talks about his ah-ha moment regarding charting and embracing the herd mentality. The importance of support systems and how they are vital when begining your traing journey. Tweetable Quotes: “You need to get creative. You need to figure out what works in your mind for personal risk tolerance.” tweet this quote “I thought I was going to go full-time with Bitcoin” tweet this quote “Stubbornness and resilience are two things you need in any type of venture in life. You can’t just be discouraged at every dip.” tweet this quote “Candlestick charts are just a history of human emotion. That was the light bulb that went off in my head.” tweet this quote “Trading will push you to your absolute highs and push you to your absolute lows.” tweet this quote “This is a marathon. This is not a sprint. This is not a race to quick riches.” tweet this quote Links: More About Clay Stock Trading Quick Tip – The Trader Death Trap Connect With Chezz Twitter E-Mail Phone
After two weeks of blissful original cast, we mess it all up. Brandon, John and Scott are all missing, but we get Mark (AllshamNowow) and Chezz to fill in. The cast starts by discussing Velvet Assassin, Saw, The Wolf Among Us, Snow, the new Pokemon and more. We also give you a rundown of what [&hellip
The century mark. Triple digits. The big 100. We are finally here and are packing a mega-cast to back up this milestone. Scott, Hex, Bob, Brandon, John, Dan, Chezz, Nick Fenton, Blacklite and yes, Alex are all here. Our prodigal son returns after 48 episodes and he delivers. We talk Bioshock Infinite and Metro with [&hellip
Episode 93 brings on Chezz, Hex, Brandon, John, Scott and Dan. In this episode you can learn all about the worst chain pizza, John's bacon substitute strategy and the full details of Chezz's epic trip. We talk Metro Last Light, Neverwinter, and the classic Battlefield Bad Company 2 in the game section. The news focuses [&hellip
We are back from PAX East with a podcast chock full of games. John and Scott are AFK this week, but we grab Nikon, Hex, Chezz and Blackliteattack to round out the cast, along with regulars Dan, Brandon and Nick Fenton. We go over all the PAX East happenings, from funny to amazing. We highlight [&hellip
Episode 82 brings a special guest, Paul from Paul's Hardware and Newegg fame. Joining him were regulars John and Dan and rotating KBMOD podcasters Bob, Hex and Chezz. After a 45 minute chat with Paul, we move into the news. This includes Gearbox in trouble, Respawn Entertainment, and Cliffy B speaking out on EA and [&hellip
Episode 81 of the podcast almost didn't happen. People dropped out like flies and had us scrambling, but we pulled it together and had one of our best casts yet. Mark aka AllShamNoWow joined us, as well as Hex and Chezz. We started by discussing Crysis 3, World of Warcraft, and many many games that [&hellip
The week, Brandon is absent for the first time in a long while, but we brought in reinforcements. Chezz and Hex team up to replace him on Episode 79. We start the cast with Dead Space 3 talk, and then dive into Special Forces: Team X. The news this week touches on the DayZ standalone, [&hellip
Steppas Choice 170: Chezz & C4TRBroadcasted on the 4th of April 2011Out of the Dust of a new Generation of BASS Heads, on a mission to push different strains of Dubstep / Bass Music, a man like Chezz emerged and came to showcase what he calls proper spanking Bass Madness: Deep'n'Dark morphing Basslines with sophisticated Swung out riddims. Chezz part of the Dubsludge Collective appeared at least for me with the launch of the Swiss Dubstep Forum.As you might know my plan was always to support each and everyone who's active and pushing the sound. So it was clear that I hooked him up and offered him to come and play! So without further explanation, Enjoy the Show!Grab the Mix here: Steppas Choice 170: Chezz & C4TR (04.04.2011)Essential Linkage: www.getfilthy.chBass Bless'C4TR
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