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STR 198: A Slow and Wise Approach to the Markets

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As painful as it is to hear: go slow. I’m well aware and had to learn the hard way of what rushing into the markets can lead to, so I would not call you an idiot if that’s where your mind is at; however, just realize, you’re on the wrong path! Our guest, Jose (chatroom alias, ‘JoseJuanQ’), tells us all about how he has been approaching his quest of becoming a successful trader. His journey has not been very adrenaline filled with excitement surging through his body, but, that is exactly why his current story and approach is so beneficial to us all. Even if you are a veteran trader like myself, there are many reminders and positive signs of reinforcement in regards to how I go about my daily business as a trader. Whether you are brand new or have been around for years, I’m confident you’ll find something worthwhile in Jose’s story!

Show Notes

  • Today we talk with community member Jose who goes by JoseJuanQ in the community. He had been following Clay’s videos since 2013. A friend came over one time and they were talking about investments. While having a line chart up he held it to the screen and thought ‘wouldn’t it be nice if we could predict where price is going?’
  • Jose is not comfortable putting his money into things he does not understand which is why he focused on metals to start. He did take a long break from the market because he was working on his education, focusing on accumulating capital by working, met his wife and got married.
  • He started trading live after finishing University but realized he was trading scared and not in a position of strength regarding his account size. He struggled scalping with only one contract so his new account target value to start is $5,000.
  • Jose had to take on some business debt when he moved to Las Vegas so he is currently focused on clearing that up before he does ultimately fund his account. Since his wife is going to school (and getting paid to do that) he also has to wear the dad hat so he’s looking forward to having the ability to spend more time with his kids.
  • Ultimately he wants to day trade in the morning and focus on real estate during the rest of the day. This reality won’t come true overnight but he’s working very hard to set himself up for success.

Quotes

  • I started selling my metals and investing into my tools and my education.
  • I was trading at the time but stopped trading. I took the little amount I had left out and focused on SLAB’ing it up.
  • I kind of want to make it where I wake up in the middle of the night calling out support and resistance.
  • The reason I’m going to options is that it takes smaller amount of capital and I can manage my risk better.

Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

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