LIVE WEBINAR: 1 Hour Trader Transformation

73 Days. Only 1 Losing Day. Possible? Yes! Let Me Show You...

This Free Event Reveals: How I transformed myself from an employee to being my own boss (and how you can too, even with no experience!)

Thursday - Jul 25th - @ 7:00 pm est

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While I know the topic of “can you trade with real money WHILE you are learning?” has come up multiple times…. I’m not quite sure it has ever been discussed in this manner. I will admit, I can get pretty stuck in my ways. But the way our guest, Carla, is going about her training and education towards the market has me reconsidering how I view this certain question in the market. Like everything, there is always “gray area” that should be and needs to be accounted for; however, with the way Carla is going about it, I must say…. I fully approve! If you are one of the people who want to use real money “while” you learn, you should consider using The Carla Method!

Transcript

Clay: This is The Stock Trading Reality podcast, Episode 222.
Announcer: This is the Stock Trading Reality podcast, where you get to see the realistic side of a trader’s journey. Get inspired and stay motivated by everyday normal people who are currently on their journey to trading success. This is your host. His escape room team was really good until the end. Clay Trader.
Clay: First off, to offer a little context. If you have never done an escape room, run a Google search on it. See if you have one around your area. They’re a super fun. Pretty much what they are is you get locked into a room and then you have a certain amount of time. Within that time, there’s a bunch of clues, and you have to figure out pretty much how to get out of the room, how to unlock yourself. You have to escape from the room, and you’ve got to be really good at clues, and you can go on and do it with a group. What we did here in Grand Rapids, Michigan is we found one that you can have a competition. So you have two teams in the same room and then you go and compete.
Clay: So within my friend group we did guys, verse girls just to prove who the superior … never mind. I’m just kidding. I’m just kidding. So the guy … and yeah, I’m just kidding, because the way this turns out, I’m just kidding. But we had our guys and then the girls and our team of guys … I mean it was kind of weird when you break it down. So my buddy from out of town, if you follow, he’s been on the show, Nate Wilson. He was in town. So we have me and Nate Wilson, kind of like the traders. We had IT Nate, so he’s like the Geek Guy. We had a couple of people that do the trade. So we had a general contractor, we had a guy that does tile. So you have kind of that mindset where their minds are, “Hey, let’s get her done.” So their thought process is much different.
Clay: We had somebody that’s learning the, what is it? The trade of being a common electrician. Then we had somebody else that’s also a kind of learning carpentry and becoming a general contractor. Everybody ranging from I think like 23 up to … Oh crap. Well, me and Wilson, we were the old guys at like 35. So good age range, a bunch of different skill sets, a bunch of different ways to analyze and think through a process.
Clay: Our team, we got to the very end and on the last clue we blew ourselves up and literally at the end we had to do something, which in hindsight … I don’t even … I don’t know what we were thinking, but the guy came in and was like, “Wow, that was really impressive. Like up until the end, you had done the second fastest time ever since we started.” I don’t know how long this room’s been around; a few years. So we were the second fastest time ever getting up to that point, but then we failed.
Clay: Then the girls, yeah, they took longer. They weren’t on any sort of like top five, top three paces in terms of time, but they did get the last thing right, and they actually escaped. So of course we make the argument, “Well we were way faster,” but they are make the argument, which is probably the true one, hopefully none of them listen, but they make the argument. “Yeah, but we actually got out so slow and steady wins the race.” But like I said, I’m still going to stick to the argument in front of any of them, but yeah.
Clay: But we are the second fastest ever so that accounts for something. But important point being, I guess if you’re going to build a team, make sure you get a good age range. You get a good skill set level. Get a bunch of people that look at the world in different ways. Apparently that’s kind of the secret recipe to building at least a good an escape room team, I suppose in some situations that probably want to be like that. Overall, I guess that’s my long way of saying if you have an escape room around you and you’re looking for kind of a fun way to change things up with your group of friends, I would highly recommend it.
Clay: Now, moving on to today’s show, super, super … I think I have a “new method”. In fact, you can tell by the title of this episode, I now know that I’m going to call it the Carla Method, but her way of approaching learning kind of has rewired and reframed my reference point because in a lot of situations I would say, “No, no, no, no, no, no, no, no, no, no, slow down.” But she’s doing it in a very methodical way. She’s definitely taken her time. A lot of people want to just like fly through the learning material and just get through it and then they start with real money and then they feel overwhelmed. But the way Carla is doing it, she’s going very slow and yeah it’s slow, but it’s slow in a safe way where she’s … I don’t know, you’ll just have to listen, but it’s the Carla Method.
Clay: It’s kind of like the best of both worlds. So I’m going to have to … I’m thinking on it though, and I’m still reflecting on it. I’m recording this after the interview, but the interview still did just happen. So it’s still kind of fresh in my mind, so I’m reflecting on it. But the point being is Carla brings a very unique situation. She’s essentially brand new, and I didn’t realize how brand new she was as you’ll see as this progresses. But I like saying the interview if you’re new to the show, the show is based on the premise of, “Hey, I don’t want any of this to be scripted. I want this to just be raw. I want this to be real. Like you just happened to be kind of observing a conversation of two people talking the markets.” So I didn’t really realize how brand new Carla was until a little bit way through.
Clay: So definitely an interesting perspective here because usually people have to warm up to the community first before they volunteer to come here on the podcast, but Carla I guess she’s just … not guess. I know she’s got all kinds of courage. So a lot of good stuff here, and I need to just stop rambling on. Let’s get to it. Let’s hear from Carla.
Clay: Carla, welcome to the show.
Carla: Thank you. I’m excited to be here.
Clay: Now this is kind of unexpected, but it’s not … This is take two because you had the … you’re a teacher. So the class change happen, and I guess, now that I think about it, there’s two things. First off, the music played the entire time-
Carla: Correct.
Clay: … and then second you were like, “Well this lasts for four minutes.” I do not remember having four … I remember like sprinting to classes back in the day. So, I mean, is this a new policy or maybe it always was four minutes, but it feels like that’s a very long amount of time between classes.
Carla: It can, but it also depends on how large your building is and what your student population is. So those are some contributing factors for that passing period. But when you’re passing, you’re always talking to your friends and when you’re talking to your friends, time seems to fly.
Clay: That that is true. That’s also good points about the size of the students, the building and all that. But the four minutes just seems like an eternity. It probably was four. I’m probably just being dramatic about it, but I liked the music. That’s a good little spin, but like you said, that’s just because school’s almost out.
Clay: You also said that we have 50 minutes until the next one goes. So that should give us enough time and worst case, we’ll go through another one before we wrap things up. But I do have to admit that I’m a little nervous, and you said in take one that I could be honest with you, but you’re only like, I think like the third or fourth, maybe the fifth female we’ve ever had on the show. So I always get a little antsy because growing up, I had a fear of girls, so I mean, so don’t judge me. Okay? Just-
Carla: Never.
Clay: Okay. Can you deal with maybe my awkwardness if I stumble over my words a little bit?
Carla: Oh of course. Of course. You’re going to be fine.
Clay: Okay, good. Usually, I am trying to reassure the guests they will be okay, but I think we have a role reversal here. I’m glad you reassured me that I’ll be okay.
Clay: All right, Carla, well, I am excited to be here. It’d probably be a lie if I said we never talked to a teacher before. I’m sure we have, but I don’t know if we’ve ever talked to a teacher on the job right now in between periods or however it’s working. Can I know what level you teach?
Carla: I’m at currently at the middle school level, and a lot of our students are gone on a field trip today, which is why I have this availability.
Clay: Ah. Awesome. Okay. Also I want to, before I forget, thank you very much, you volunteered to be here, which always makes my life much easier. So I really do appreciate that, rather than having to chase people down, these situations are much more convenient, so thank you.
Carla: Oh you’re welcome.
Clay: So where did all this start for you? Where did you hear about the market and what’s kind of played out that got you interested enough in the market for you to want to get more hands on?
Carla: Well, it started … Let’s see, I remember as a student myself going through the Great Depression and hearing stories from my grandparents about stocks are bad, but then having the conversation with my parents that stocks are really a tool. Like any tool, they can be sharp and useful, but they can also cut and harm you. So I remember having those two opposing viewpoints and different conversations.
Carla: Then through the years, a lot of conversations with my father have especially evolved or emerged more recently, and it became like the holiday talk. So anytime you’re together for Mother’s Day, Father’s Day, Thanksgiving, Easter, all of that, there would be some form of conversation evolving around stocks. There was a running joke between my father and I for quite some time because kind of like when you pick your final four for the basketball tournament. Some people will pick it based on stats and some people, “Oh, I really like that name.”
Carla: So I had seen or read about NVIDIA, I liked the initials NVIDIA. I liked the way it sounded when you said it. So I, through that stuck out to him, I think it was in like 2015 right after Christmas or maybe 2014, somewhere in there. He looked it up, and he liked it and he got into it for about $18, $19 a share. So every holiday we’re talking about it and he’d give me a hard time, “Have you invested in it yet?” “No, no I’m not ready,” et cetera, et cetera.
Carla: Well a few years later that stock takes off and jumps up to 60, and he still has it. He has what I consider a lot, and he’s talking about getting out. So I did a little more research, and I gave him what I found because I’m research-based, and I said, “I’d hang onto it until at least it breaks a hundred.” A few months later it breaks a hundred, he sells it and then he thanks me for making the 60,000 that he made on it. Teasingly and finally I said. “Well that’s okay Dad, because I know eventually that’ll be in my inheritance.” So that’s kind of a joking back and forth rapport that we have centering around stocks.
Clay: Where did the hundred dollar number come from?
Carla: A $100 share? That came in about … Let’s see, I’ve got 2014 is when he started it and then NVIDIA shot up to 100 what, two or three years later? 2017-
Clay: Poorly worded question. Where did you, in your mind, you told him, “It will at least go to a hundred. How did you arrive at that hundred dollar number??
Carla: Oh. Because I liked … Let’s see, I was doing research through Google and then through the company and I saw what they were forecasting as far as their future. So it was more of the investment style rather than technical charts.
Clay: Okay. Yeah. So I was just wondering where that … but that would make sense if you looked at the calls or transcripts or just like you said, the forward looking at earnings and all that sort of stuff. I feel like though, didn’t that thing go up over $200 though recently? If I’m remembering right? Almost?
Carla: Oh yeah. I think it hit like almost 260, at one point.
Clay: Oh yeah. I’m looking at the chart now. Yeah, 290. Well, why didn’t you tell your dad 200? What are you doing, Carla? Come on. Well, no, that’s a … I like how you spun that positive, “Yeah, that’ll be in my inheritance.” So that’s a good way of looking at the glass being half full. So I’m assuming that’s what really kind of pushed you into, “Well I need to get my hands on this stuff a little bit more active,” or was there more to it that actually led you to wanting to jump in more so than kind of you just had at this point?
Carla: Well, there was a few clues that were going on for me. I kept asking myself, because he’s retired, he has a very small pension, social security, how on earth is he doing some of the things he’s doing? Like putting a brand new roof on and resiting the house and some big projects, buying a car. So I wasn’t quite comprehending everything that he was doing. Then I went to a vacation with my girlfriend and her family. Our families went together and we stayed at her parents’ house. I noticed her father, also a retired Chicago police officer, he kept disappearing and then he’d come back and sometimes he’d have this big smile on his face and you know, other things going on. Finally, you know, when I sat down and talked to him about it, he says, “I’m investing in stocks.”
Carla: That’s how he could buy his new boat. That’s how they could do all of these fun things with the family and constantly have people around them, is how he saw it, and protect their future. I thought, “Well, these are two retired people and I’m going to retire in two years. This is a great way to learn and start preparing myself for retirement.”
Carla: So I started doing youtube searches and actually my niece had said, “I want to know more about stocks.” I thought, “Okay, well let’s go to YouTube.” So I went in there like, what is stock trading? I came across your one 101 video series, What Is The Stock Market? I sent that to her after I’d watched it and screened it and thought, “This is good and appropriate.” I thought, “Wow, what else does Clay guy have?
Carla: So I started watching all of your 101 series. To be again, forthright and honest here, I was watching some other videos to see, “Well what’s the difference? How are they explaining it?” Of course being the teacher, you’ve got to be able to explain things more than one way. So I started listening to other people. I found some that were just speaking a mile a minute. I couldn’t keep up and some were just so slow and relaxed, it didn’t seem … the pacing was off for it. They were oversimplifying what really goes on in the stock market. I thought, “Hmm.” So kind of like you were the happy medium, very honest, very organized. I just liked the way you delivered your message. So I kept following you.
Carla: Then from there, I decided right around April, I’m going to go ahead and subscribe to your newsletter. Then that’s what really started to push me, was seeing that newsletter come out and saying there’s some vocabulary in here that I’m not aware of, that I don’t have a strong understanding and I haven’t learned how to develop a plan. So it’s part of that analysis of what skills do I need?
Carla: So even watching your youtube videos of you made this trade in so many minutes like, “Oh my gosh, these are video game skills. I don’t know that I have that. I’m not a video game person and I can see how fast he goes. What if I mix up a sell order when it should be a buy order or vice versa?” So I really honed in on the point of paper trading, the things that you were saying about the importance of paper trading.
Clay: At this time, did you have … because you said your original youtube search was just what is stock trading or what have you, is that what you always thought you wanted to do with stock day trading or did you think that you were interested in swing trading or were you looking to invest? Or did you not really actually even know what you were looking to do? I mean obviously you knew you wanted to get involved into “stocks,” but at that point, did you have it actually narrowed down at all or did you think that the only way you could do stocks was- I liked the way you put that- like video game style?
Carla: Yeah. I’ve thought about … Well in my conversations with my father, he talked about years ago when he was helping to put us through college, and he was looking at Sears and United. His conversation centers around, “I was buying 10,000 shares and waiting for it to go up a dime and then selling it. Sometimes I was a day trader, sometimes I was a swing trader.” I was like, “Hmm, that’s an interesting philosophy.” I said, “So Dad, you never went short?” He didn’t, which I appreciated his honesty and he said he did it four times each with Sears and four times each with United. He says he was very lucky with United Airlines because on the fourth one he said, “I’m done.” Then he said a week or two later they of course declared the bankruptcy and he had gotten out, but he said both of those were around a dollar a share.
Carla: So I thought, “That’s a pretty intense game that you’re playing without technical analysis.” Because he said he’d put in his stops and he’d have everything lined up, but he didn’t really have the data available, because he’d have to call his broker to make these things happen. Of course, this is back in the ’80s. So after hearing him I was like, “I’m fascinated by the day trading aspect, but I think for my speed right now, I’m more interested in swing and or options.”
Clay: Now, how did you hear about options?
Carla: Through another newsletter, another service that I was getting at the time that they had a thing where you could sign up and learn about options, but you were only following their advice when to get in. So it was like, “See what I do, do what I say.” I was like, “Well, I’m missing my own freedom, my own independence of, ‘I understand this and this is what I’d like to do and this is what I’d like to try and I think I can do this even greater.'” So that’s also the other thing that pushed me more towards the Clay Trader University.
Clay: Interesting. I like this conversation because from your Dad’s perspective, I like how he was honest, and that was good that he used stocks, but like you said, back in the ’80s, I mean, he pretty much used what he had available. I mean, it’s easy to sit here and say, “Well, that seems kind of like … What do you mean? He was … doesn’t … but … ” I mean that technology didn’t exist back then so I mean, he used what he had. So that’s an interesting perspective that you have kind of going into this age that were and where you can pull up pretty much every single bit of data you want in the click of a mouse but yeah, we have a lot to take for granted, I guess is the best way to put it as traders in this day and age. I always like to hear about kind of the old school traders that people had experience with that where, you literally had to call your broker.
Clay: So I guess you’re watching my live trade videos and you’re like, “Oh, I don’t have these video games skills or anything like this.” So from that point, did you just kind of sit back and paper trade more or what actually led you to the eventual spot of getting Clay Trade University? Was there a space between there where you needed to go out and kind of learn the hard way? Or did you always know from the get-go that paper trading was the smart way to go?
Carla: A little of both. So what I’m kind of figuring out is where’s my big picture? So sure, I have investments and I’m looking to do day trading retirement. What form? I’m not sure, but I also have to figure out the tax situation. So moving all of those moving … or putting all of those moving pieces together is what’s pushing me towards, “I need knowledge. I’m research-based, yes, I agree. I have a lot more tools available to me now, but I want somebody who’s going to teach me without keeping tight reins on me.”
Carla: So I can decide, like the other day, I’m doing paper trading and I’m seeing what the market’s doing and I’m like, “Okay, I want to test this out” because to be honest, it’s scary when you, the moment you click and that order fills, it’s happened and there’s no backing out. It’s like-
Clay: That’s so true. I know. I laugh just because that’s one of those feelings that you can really only get unless you do it. Like there’s some things you’re like, “I don’t … ” and you stumble over your words to try to explain it to somebody. Like that’s one of those things. That’s perfectly put though as, once the order is filled, it’s filled. There is no backing out. So I totally know the feeling, but that’s totally one of those things where if, unless you’ve done it, you just don’t know the feeling of it. There’s really no way to describe it other than … but that was really good way to describe this. Yeah, there’s no backing out. This is not a video game. There is no reset button or anything like that.
Carla: Exactly. So what had happened was, I had- this is real trading now- I had purchased one share of Amazon because I wanted to see, with my broker, interactive broker, “How quick? Will they accept just one order?” et cetera, et cetera. So I put in the order for one, the price went up just like you had taught me on setting the plan and it hit where I wanted. I hit sell. My mistake was, my default is 10 shares. So when it’s sold, it sold 10 shares. I had nine to the red side left on the books.
Clay: Oh you’re nine short now?
Carla: Yeah. I’m nine short and I’m thinking, “What happened? What did I do wrong?”
Clay: On Amazon, which at-
Carla: Yes.
Clay: What price was this when you experimented??
Carla: Oh my gosh, it was a 1785.
Clay: Oh my. You’re short nine? See, that’s the thing. Listeners, remember. You hear one share and you’re like, whatever. Remember, this is a $1,700 stock. This is Amazon. So being nine short means that’s nine shares on a $1700 stock, pull out your calculator. That’s not exactly a small amount. Oh, I’ve been there. That’s why I laugh. I don’t laugh at you because I think what a stupid thing to do. I just laughed because they’re like, “Oh, yep. I’ve forgotten to check the … ”
Clay: Did you know right away what had gone on? Because when it’s happened to me, usually it takes a few seconds for me to kind of register exactly, “Wait, what is going on? Oh I did that.” I mean, did you realize right away or did it kind of throw you off for a bit?
Carla: It threw me off and I kept seeing this red number minus nine. I’m like, “Why is … Whoa, what did I do?” So I quickly looked to the chart, I saw where the candle stick was and it was at the right spot. I’m like, “Okay, let’s not panic. Let’s pick our drop price.” So I went ahead and picked that drop price that I wanted, put the order in correctly the next time. I got out and I left because I made $13 on it. I was like, “Whew, at least I’m out from under it. $13 is a positive thing. Lesson learned. Set that default for one next time.”
Clay: Yeah, I was going to say, “I’ll take $13 green” or even just a $13 loss, let’s call it compared to what that could have been had you not realize that right away or had it just … But yeah, to get paid $13 to learn the lesson to double check, I would agree that was a cost effective way to learn that lesson where we’ve all been there though. For sure. I think that’s like a rite of passage. I would argue that you’re not really a trader unless you’ve botched some sort of order like that.
Carla: Exactly, which is how I looked at … When I go online and I’m seeing you and your set up, I’m like, “That’s a worksheet to me.” I see it as a worksheet. So if you’ve got your chart on the upper left and your orders on the lower right and … I think I’ve tried to duplicate that as much as I can, but then finally through the paper trading and even the live trading, I’ve had to figure out, “Well, what works for me? Where do my eyes tend to go? How do I set my worksheet?” So as we keep moving forward, I love what you’re doing and showing the setups, but even your order screen’s a little different and that’s fine. We don’t all have to be identical, but you still have to have that understanding.
Carla: So it took me a few days before I even did the live trading to say, “Well how can I have it show me if I’m red or green and how much right away?” I had to find the unrealized profit and loss rather than just the daily one. So there’s little nuances like that where I say, it’s a video game. Like, “Oh, I didn’t realize I had a hammer available to me in this video game. Well, I didn’t realize I had that set up within the charts.” So there’s that big learning curve that’s going on.
Carla: But you’re right. When you look at that Amazon experience and I hope that’s the only rite of passage that I have to do that way, but it’s taught me, I have to improve my video game skills.
Clay: Yeah, that’s a great analogy. There is … and I like how you said, “Yeah, well I got to figure out what works for me in terms of where my eyes start to go.” That’s exactly it. That’s why … I don’t have any problem. If somebody wants to replicate my setup as their framework, that’s fine. I mean, you can try it, but there’s also nothing wrong with saying, “Well I think if I move this over here and that up there, that might work better.” That’s totally fine too. It’s not like what you see on YouTube or whatever is like how it’s supposed to be. That’s how it works for me. Again, as a starting point, go for it.
Clay: That’s a great point for you listeners out there, that Carla is bringing up is, there is no … There’s set ground rules in terms of, yeah, you probably should be using a chart, but where you put your chart on your screen for example, I mean there’s definitely no right or wrong way for that.
Clay: So you purchase Clay Trader University and then that Amazon trade happened. I mean, roughly speaking, what sort of timeframe was that?
Carla: As far as … Okay, I started the university. I’m up through Robotic Trading number 12. I finished that, which I totally love, love, love, love the case studies because that helps me see many viewpoints and understand it. So I would say I try to do something live after each case study.
Clay: All right, so let me take a step back then. Just for listeners’ sake, if you’re not familiar with this show, my policy is, I want this to be as real as possible. I don’t want it to be like any of this is scripted out. I want it to be like you’re just a fly on the wall. Carla and I are sitting in a coffee shop, just having a conversation. So you are pretty brand new to Clay Trader University then as of right now?
Carla: Oh extremely. I am definitely a rookie.
Clay: Okay, when did you sign up then? Did-
Carla: I just signed up … I listened to … I signed up for one of your things where you go at seven o’clock at night my time last week, I think it was. or maybe two weeks ago.
Clay: Okay. One of the live … Okay.
Carla: Yeah, so I did that. Then I signed up-
Clay: Did we talk on the Webinar itself? Were you in the chat box?
Carla: Yeah, I was in the chat box, but those were general questions. I mean, I was logged in-
Clay: But you did say something. Did I respond to you?
Carla: Well, I don’t think so because it was like, where are we coming from? You know, what state or whatever. I mean, it was very basic stuff,
Clay: Okay.
Carla: I think the next day I spoke with you or chatted with you-
Clay: You did. Are you doing the pay-as-you go?
Carla: Yes, exactly. We couldn’t find the link.
Clay: Ah, yes, I do remember. Yes, I do remember. That was a Friday morning, right?
Carla: Exactly.
Clay: I knew there was … “Carla. Why does that sound … ?” But I did not realize that you were Carla.
Carla: Yeah, that’s me.
Clay: So, you were … Yeah. Okay. Well, thank you very much for being so new and then volunteering to come on the podcast. For you longer time members out there that are so scared, Carla is like brand new and she’s already on this thing. So come on, buck up people, buck up. Way to set a … Carla, this is way to be a good example. This is … I did not know that you were this new.
Clay: Okay, well, all right, now I have a little bit more framework here. So your policy is, you like to do a case study and then you put something live, but it sounds like you’re going very, very small when you’re going live. Is that an accurate assumption?
Carla: Yes. The only reason I chose Amazon was because I liked the gap as far as … You know, you can look at what it’s selling for and what the orders are for and realize, “Okay, this is a pretty good gap.” Now, going forward having learned my Amazon lesson, I will be choosing something much smaller, probably more in the $50 range, but I’m still only going to do like one to 10 shares maximum as I go through the case studies. So those are just some general rules I’m putting in place for my own learning.
Clay: Yeah. So let me ask you this then. What are you okay losing? Like $10, $50. What would be a loss where you’re like, “Okay, it is what it is”?
Carla: $50. It is 50. Yeah.
Clay: Okay. So then yeah, if you’re doing, let’s just say 10 shares of $100 stock, well then you could lose $5 per share and you’d be right at 50. So, I mean, I’d say you’re in a good ballpark of staying … Let me put it this way. Nine shares short of Amazon, you had a much bigger risk of losing more than 50. So again, glad that was a $13 win actually, but all right. So just double-checking to make sure that you’re not putting yourself at risk of … that you’re keeping it realistic. Because if you’re saying, “Well, yeah, my ideal thing is $50, but I’m doing 500 shares on $100 stock, it’s kind of like … Okay, I don’t know-
Carla: No that’s-
Clay: … about that, Carla. I get it. You only want to lose 50, but you got the math covered. So that’s good. I want to make sure that … Because I understand, you want to do it live as you go because some people, the paper trading doesn’t quite … You’ve got to just get that feeling of that, I-can’t-back-out feeling, which is how would you describe it.
Clay: But I also want to make sure that your account’s not going to get blown up, but if you’re doing 1 to 10 shares then everything’s fine. So do you feel as though that’s been … Let me put it this way. How many live trades have you made so far then?
Carla: I’ve done about six so far.
Clay: Do you feel like … because I actually, I don’t know. I think you’re the first person that’s ever said that this is how you’re going through the courses, which is not … The only flaw I could see, which is why I just spent a while kind of rambling on about it is, your math being off saying, “I only want to lose like 50 bucks.” But then you actually putting yourself at risk of $500 because your position size is crazy. But your position size is not crazy so do you feel as though kind of going through it live in a very, very small and controlled way, is that helping out?
Carla: Yeah. I see it as baby steps and I’m, again, I’m building those skills to recognize it. It does require you to understand where the math is going and if this goes up … I mean, there’s been a couple where I’ve predicted it to short and it goes the opposite. Well, you could sit here and say, especially on paper trading, you could sit here and say, “Well, haven’t lost until I’ve sold it.” So you end up hanging onto it for a couple of days and then it’ll finally hit the price that you wanted. That’s nice. But now you’ve forgotten the reality of it and there’s margin. So you have to pay whatever interest is out there on it.
Carla: I don’t have a firm grasp of how much that is with each stock trade. Paper trade frees you from that, but then there’s that whole reality, “Well, what if you do hang on to these 10 shares for a week? What’s the outcome of that? How do you break even?” So there’s a lot more math and I’m going to have to teach myself regarding this principle, but I’m still learning and I’m still just putting myself through the paces with the case studies.
Clay: Well, I think the most important thing that you’re doing is, and like I said, this is kind of … I’m thinking a lot here, but you’re almost forcing yourself to be disciplined because if you know … So correct me if I’m wrong, if you see that you’re wrong and it’s going against you and it’s getting close to the $50 that you’re willing to lose or whatever, I mean, you’re just getting out. Is that fair? You’re getting out at $50 or even before then?
Carla: Yes. I try to go before then, but my absolute … It depends on how strong I see that chart emerging. Charts can be wrong, but I am trying to hold to that 50. I mean, usually I’m getting out around 20 or 30 to be honest. I’m getting out.
Clay: But I mean you are … I guess what I’m trying to get, you are getting out?
Carla: Oh absolutely. Absolutely.
Clay: See that … I realized from your perspective, you’re like, “Yeah, whatever.” But I don’t know that you’re actually making a very strong argument where it’s like from this point of view, you really shouldn’t have paper trade because you’re right. As a paper trader, I could see a bad habit, easily creeping in where we’re like, “Well, let me just hold because it’ll come back” because you don’t really … you know that that money is not real.
Carla: Right [inaudible 00:34:33]-
Clay: So now all of a sudden you’re kind of starting to build bad habits in your paper trading because well, you technically let it go beyond your stop loss because, “Oh, it’ll come back” and you’re really doing it subconsciously because you know that there’s no true risk because it’s not real money. But for Carla here, she’s flat out like drilling into her head the discipline of, “Hey, I was wrong. I need to get out. Just get out now,” because she knows that those are actually real losses and she knows that she does not want to lose more than $50. So in a weird way you’re like forcing yourself to form good habits because it’s real money. So I-
Carla: On a much smaller scale.
Clay: I don’t know-
Carla: Absolutely.
Clay: On a much smaller scale. Exactly. But I don’t know. This is an interesting conversation because … Now here’s the thing that I will say though that, it would not work for the person who is like … but I don’t know. If you go in and you’re just saying, “No, I don’t want to lose more than $50,” then I mean I can see it forcing you to stick with your rules and stick with your plan and just get out of the trade. I probably sound like a crazy to you Carla, because you’re like, “What’s the big … ” this is no big deal to you, but I’ve-
Carla: Oh but it is.
Clay: … heard time and time again from people where like their paper trading … It’s good because you’re still learning but a bad side of paper trading is, well then you can also form bad habits because you start breaking rules because you know there’s no real risk. But there’s also the flip side or the bad side of real money trading. What Carla’s doing … If Carla all of a sudden has the math wrong and she’s risking a lot more, or if Carla for whatever reason just gets stubborn, but it sounds like you’re pretty hard line with that $50, which is really forcing you to just get out of the trade, which is a huge, huge, huge thing you need to do as a trader is you’ve got to be a great loser and you’re really forcing yourself to be a great loser when you’re wrong. Is that pretty accurate?
Carla: Yes. I would definitely say that’s my current philosophy. Whether deciding to go long or short, that’s the other battle because I think that’s where confusion comes in, especially when we go back to the video game. So that’s how I got in trouble the other day with Amazon. You really have to tell yourself the story before you even go into the trade, which is why I loved at the beginning. You’re constantly telling stories at least where I’m at in robotic trading, of how to look at things. It’s like, “Did I set my story up well enough and I believe in that story that I will do A, B and C? Get in, get out or hold.” So those are also parts of what I’m trying to develop.
Carla: Sure, I’ve done investing for years. I’ve bought at this price, waited for it to go up for years and then decided when to get out if I wanted to get out. But when you condense it down to a week or down to a day or down to minutes, you’ve really got to improve those skills.
Clay: I will say … S you said you’re on video 12 right now? Robotic trading? Is that what you-
Carla: Yes, I’m on 12.
Clay: Okay. I mean you have more coming your way that is going to continue to build upon that, so all I would say right now is I wouldn’t even worry about necessarily, should I go short here, just because all that sort of stuff will come in future classes and videos and all that good stuff. But yeah, I like the way that you’re actually applying what you learn with each case study, with some real money and that’s an interesting take on it.
Clay: Now, how have … You said you’ve done six live trades so far?
Carla: I have, yes.
Clay: How have all those gone? I mean, are you usually making some money? You’re losing some money? I mean, I realize right now it’s not necessarily about making money and like trying to blow up your account. You’re just doing to put the lessons in emotion. But how have those first … ? We know how Amazon went, but what about the other ones?
Carla: They’ve gone okay. There’s been one … Like I’ll start … let’s say I decide it’s going to go up, so I’ll go ahead and put the position. I’ll make you know, $5 because that’s where I set it to get out. I exit. Okay. Can I repeat that? You try it with the same stock because if you start early enough in the day and then you kind of watch how it progresses, you can see different patterns emerge.
Carla: So yeah, I’ve been able to do it maybe a couple of times and then you get burned on the third. So lesson learned there. Are you really reading it? How’s your story? I would say overall I’m up probably about $30, which I’m fine with because again, I’m in the learning stages. So on the six trades, one of them I repeated, made money here, made money, lost money, went on to the next one, made money, made money, lost money, and then that’s where I’m at. So about one third, if you’re looking at a batting average.
Clay: Hey, I mean a one third batting average puts you in the hall of fame in the major leagues, but I’m glad you’re not sitting there like, “Oh, I’m making all this money. I got it all figured out. Therefore I’m going to start to … ” Yeah, just promise me that because you’re growing your account, don’t all of a sudden be like, “You know what? This one share stuff, this 5 or or 10-share stuff, this is for child’s play. I’m going 500 shares.” Just-
Carla: Oh no, no, no.
Clay: … don’t ever do that. That is where you cross from apples to oranges in terms of, “Okay, now it’s just not smart to be using real money while you … ” or while you learn because that’s kind of a debate. I don’t know, maybe I’m even guilty of saying, “No, you should not be using real money while you learn,” but you make a really good argument. I mean the way you’re approaching it, as we’d have discussed that, that puts an interesting kind of little spin on it. But yeah, as you get more and more into the classes, especially into the Risk Versus Reward class, which will be coming in your future, it’ll start to narrow things down more and more and you’ll get more and more … I like how you approach it and look at things as the story. You’ll have more details of how to understand the story, how to set up the plan around the story, and you’ll have all that good stuff.
Clay: I do want to ask though, just because I know a lot of people that listen do have full time jobs, so how do you actually fit in the trading within your setting of a job? Are you just trading when they’re in recess or how exactly does that work?
Carla: Yeah. Basically we come in the morning myself and all the other teachers and you’ve got your little bit of setup time so you get your day set up and organized, answer your emails. It’s during that time that I’m going ahead and loading up interactive broker paper trading and I’m looking at things that I was interested in. I’m getting better at setting the story the night before in the evening. So then when I go in the next day, I kind of know how I want to set it up. So then you go ahead and set it, have to leave, go and accomplish my daily missions there, come back at lunch, check in, see how it’s going. Then at the end of the day, I sit down and give myself a half hour to look at it before markets close and then reevaluate myself at night.
Clay: So you are … Is it kind of like … Is it possible where you could put it in an order, you get filled and then you come back, let’s just, I don’t know, call it two hours later and you check to see where that current trade is at? Is that pretty much how your trades play out?
Carla: Exactly. Exactly.
Clay: Okay. So they’re like day trade slash … They’re swing trades within the same day in many cases or do you find yourself holding lots of these overnight?
Carla: In the paper trading, a couple of the bigger ones that I’ve played with, I found myself holding overnight, but in the real trading, no, I’ve not held onto anything overnight in my little six trades there that I’ve done with the case studies.
Clay: Would you hold any of those overnight? Are you open to doing that?
Carla: I am getting there, especially as I start to read the charts, but right now, my philosophy would be if I hold it overnight, it would have to be a buy to a sell order rather than a short order. So I would go long before I would go short.
Clay: Okay. All right, just thinking out loud. I mean if you’re going to paper trade and you have no problem going overnight, but then with your real money, you’re like, “No, I would never do that.” Well then I would say that in your paper trading, you should also treat everything like, “No, I’m not holding overnight” because you want the paper trading and the real money trading to marry each other as best as possible. But it sounds like you are open to potentially holding a real money trade overnight. So from that point of view, I guess they are marrying each other pretty straightforward.
Clay: I would assume that you get filled … So before you walk away from the computer, you’re putting in some sort of stop at a point?
Carla: Let’s see. The stop? Yes. Because again-
Clay: Yes the stop loss to-
Carla: Yeah, the stop loss, because I always get confused on that. Yeah. That’s my dyslexia coming through. Yes-
Clay: [crosstalk 00:43:59].
Carla: … Stop loss. I’m putting that [inaudible 00:44:01].
Clay: No that’s fine. That makes me feel better because sometimes people will say stuff I’m like, “Oh yeah, I know what you meant but for me … ” so I totally get it.
Carla: Right. The thing I had to learn was what’s the trigger? I didn’t understand that term. So that took me a while to figure out there’s a trigger or are you just going … ? Market, I understand, but I didn’t understand … because it was complicated. I had to watch different videos like through Interactive Broker and just youtube to figure out, “Well how do I set this properly?” So yeah, that’s what I’ve been working through.
Clay: Okay. Yeah, because I guess what I’m getting at is if you get filled- I’m just making these numbers up- for $50, you want to make sure that if it goes down to, let’s just say 49 that you’re getting out while you’re away. Because the last thing you’d want is to get in at 50 and then have to come back and check later and all of a sudden it’s down at, I don’t know, $35 for whatever reason. If you didn’t tell your broker to get yourself out beforehand, then it’s pretty risky to be walking away from the computer without some sort of stop loss order in from your broker. But it sounds like after you do get filled, you are putting in a stop loss?
Carla: Yes.
Clay: Okay. Okay. That’s good. Just wanted to double check there because that $50 could quickly expand beyond that if something crazy happened while you were away and couldn’t check it there. How often are you able to check in? I mean, sounds like it’s two to three times a day when you can check in on those orders?
Carla: Yeah. It’s about two to three because you’ve got the initial morning set up. I’ve got a little bit of a break and then my lunch break. Then like I said, at the end of the day, there is some time. What I really enjoy is when we have longer breaks. Like I’m getting ready to go into the summer where I can sit and watch it and study it a lot more. So when we’ve had days off and the market happens to also be open, I’ve spent my mornings trying to teach myself more of what you’re seeing as the candle sticks either go green or go red or whatever it is that they’re doing and just kind of learning patterns and where to put my horizontal lines and things like that.
Clay: Awesome. That’s good stuff. I got to ask, do any of your colleagues know what you’re doing or what you’re up to?
Carla: Oh sure. I mean, it’s kind of the running joke, that I’ve been [crosstalk 00:46:23] day trader-
Clay: Oh yeah. And what do they think? I just … So do they think you’re crazy? Do they commend you? What do they think you do? I mean, let me ask it that way. Do they think that you’re like just sitting there in Las Vegas, but you’re not? Or do they think that you actually are managing … ? I know the way you’re describing, you’re are managing risks. So it’s not like you’re a gambler, but it’s always funny to, what do other people think you’re actually doing?
Carla: When you first talk about it, you can either see the hey-that’s-really-cool expression on their face, or, “Oh my gosh. You’re taking that risk.” There are some silly stocks out there that we’ve done, like for the investment viewpoint.like one of my goals was, “Hey, I want to own a million shares of something.” Well, sure enough, in Penny Stocks I found something that, you know what, for $150, $200, I have a million shares. So I’ve accomplished a goal. Those are the ones we laugh at.
Carla: There’s a couple of other smaller ones that we bought maybe 3 cents and it’s up to 30 cents. So we’re having fun with that especially my one girlfriend and I, we both buy like those little ones and we’ve got bigger stocks too, but there’s some that you just have for fun. Is that a good investing philosophy? No, but I mean we all talk about the World Series and we all talk about the Superbowl and some of those other things that’s for fun. Sure there’s pools at work that you may get into and then there’s people that really do the serious Vegas level for those games. So there’s all kinds of ways I think to look at the stock market, if that makes any sense.
Clay: Well, it does. I would say that if you were sitting here saying, “Me and my girlfriend, we bought a million shares of this penny stock and Clay, this thing’s going to multiple dollars. We’re going to be-
Carla: Oh no.
Clay: … swimming in cash or in like the next year.” From that point of view, I’d be like, “Okay, that’s not fun. That’s you just totally like being a blind sheep.” I don’t know-
Carla: No.
Clay: … what you’re thinking, but you clearly know that it is pretty much literally just for fun. You don’t sit here and think that that penny stock is going to make you a multimillionaire.
Carla: Oh no.
Clay: I think so, right? You and your girlfriend are not in there-
Carla: Right. No.
Clay: … Okay. So then I would-, yeah I-
Carla: It becomes more like, “How long can this stock hang on? Oh my gosh. Can you believe it’s still here with three Zeros after the decimal point and a number?” It’s like, how long is this going to hang on for it? It’s more like that yeah. Is there better ways to spend a hundred or $200? Sure. But is it a great conversation starter that can lead to other things? Absolutely. But the reality is-
Clay: I mean I would argue that a hundred bucks into a penny stock is … because like that is good. It’s a good conversation starter. It’s getting your mind engaged in the markets. Yeah. Granted, it’s a penny stock, but it’s better than spending 100 bucks on a bunch of cigarettes or … I don’t know, something that has absolutely zero value to it at all on. So I think that’s-
Carla: Well-
Clay: … I find that … go ahead.
Carla: By the same token, you’re learning, “Oh, well what’s this [SEC 00:49:32] thing and how much do they really have to have and can they be kicked out? How does company dissolve?” I mean, I’m going to learn all of that with a very simple penny stock that I’m vested in, so to speak, but where will it really grow and where will it really die? If that can happen to a penny stock, I’m sure you, with all your vast experience, know of big name stocks that have gone by the wayside. Like we can sit here and look at BB, Blackberry and know that at one point they were a hundred and some dollars stock 140, 150 but it’s come all the way down to around $7 or $8 right now.
Carla: Is that going to reemerge and grow? Well, that’s a different argument, but that also takes us away from the goal of day trading. In day trading, do I really even have to worry about the financials of that company or am I just looking at what’s happening on the chart? I think that’s another mind shift. So yes, the reality is do we know that a penny stock’s going to do anything? Probably not. But what am I going to learn by having that penny stock? I think that’s where the reward is for me.
Clay: Do you get on the message boards or anything and follow the penny stock?
Carla: Oh sometimes I’ll listen to some of the comments, but it’s always strong opinions. You can see they’re trying to influence you one way or the other. I think you get more information from the company’s website if they’re putting out news reports or whatever.
Clay: But you just proved your own point. You’re also learning about the psychology of the market. I mean, you absolutely nailed it. Well, yeah, you can see some strong opinions, but they’re just trying to influence your decision. Exactly. That’s how the market works. So you literally just proved the point that you’re making about, “Yeah, by having it, I’m learning some things.” Yeah. You’re learning all about market psychology because that’s exactly what the market is as a whole.
Clay: Now it works differently in the penny stock world when you have somebody on social media saying something, but in big boards, I mean turn on CNBC, all those talking heads, same exact thing. Everybody’s offering up their opinions. You’ve got analysts saying this, analyst upgrading, downgrading, I mean, and yet-
Carla: Correct.
Clay: … you’re learning that by having the penny stock. Yeah. Good job seeing right through that. That person is just trying to influence your decision to do something and you can probably make … That was pretty … Carla, I’m kind of proud of myself. I tricked you into proving your very own point that you’re learning market psychology by just simply following the penny stocks. I would encourage you, get on the message boards that much more and just watch the psychology. Watch how people are acting. Watch how other people blindly follow the other person that’s clearly just sitting there, like you said, trying to influence other people. They’re not influencing you, but it’s amazing how many blind sheep there are on message boards and social media that will just take whatever is being said as the truth and just follow along.
Clay: Then when you eventually get to the penny stock course that I offer, you’ll have a field day going through that class because you’ll know exactly and be able to probably relate to all sorts of the things I talk there. But yeah, I can tell you’re a teacher. You’re all about learning. That is a good way of looking at it is. If I throw a couple hundred bucks in here, it’ll get me to learn that much more. Like you said, unbeknownst to you, you’re learning all sorts of great stuff about market psychology. Do you have any goals in terms of when you want to be like full bore into this stuff? Or are you just taking it kind of going with the flow?
Carla: Oh yes. No, no, no. I’ve already signed my paperwork to retire. So in two years I will want to be doing this daily. Right now with my limited learning, I know I want to try to make $50 a day in the market, which some people look at it percentage, some look at it dollar wise. That’s my initial goal until I become much more skilled and knowledgeable.
Carla: Then I want to be like my father. I want to be like my other girlfriend’s father and I can start doing other things as I grow my skillset and portfolio.
Clay: That’s good stuff. We’ll have to have you back at another point because I’m curious how all this will turn out. I mean you’re clearly on the right pathway and I’m trying to think what I want to name this, but I think, I dunno, I want to name it something about the conversation we had about how you are using actual [inaudible 00:54:03] real money as you’re going through even those early classes, but it makes a whole lot of sense why you would do that. You’re doing it the right way. But [crosstalk 00:54:10]-
Carla: Yeah, you almost need to-
Clay: … the time … Go ahead.
Carla: Yeah, tie it in with the case studies because that’s what’s really kind of driving me. Because you’re giving us so many lessons and then it’s like here’s the case studies, here’s these other things. Then it’s like okay let’s go get the training wheels on and go try this in a limited cost effective way.
Clay: No, exactly. That’s true. I mean the way you explain how I set it up, I mean again, I can tell you’re a teacher because you understand the structure of the way it’s being taught is, “Okay, here’s a little story of things and then here’s how you would apply it. Then here is a real life story via the case study.” So I could see how at that point you’re like, “Okay, let me put on the training wheels and let me just kind of venture, tiptoe into the market and apply this.” But because as you know, the next lesson kind of builds upon that and then it just keeps getting bigger and bigger, so if you’re testing it as it all goes, that’d be a good way of not being overwhelmed by saying, “Okay, I got all this stuff now I’ve got to go apply it.”
Clay: You’re definitely doing it very methodical, which is how it’s intended. A lot of people are like, “Yeah, I just [inaudible 00:55:15] did a little robotic trading Saturday afternoon.@ I’m like, “Okay. I’m pretty sure you didn’t absorb everything in one afternoon. Sure you played through all the videos and everything, but I don’t quite know if you absorbed it all,@ but there’s no doubt in my mind the way you’re doing it, you’re absorbing a little piece, then you’re putting it into play. Then you’re going and absorbing another piece, you’re putting it in a play. So that’s a good little learning model right there. I like that.
Carla: Oh good. Good. I’m glad you appreciate what I’m doing.
Clay: I mean, honestly this kind of of has rewired my brain a little bit, because I’ve always … So it would be like, “Well how long does it take you to get through stuff?” It’s like, “Well, I don’t know.” This might be video-worthy of how to like … I could see myself doing a video of how you should actually. Because you can get people to slow down, and I’m just talking out loud right now, so please bear with me here Carly, but you could-
Carla: Absolutely.
Clay: Or Carla, sorry. I have a friend named Carly, so I’m actually pretty proud of myself that that was my first time calling you Carly instead of Carla. But anyways, I could see doing a video where it’s like, “Okay, I get it. People want to get to trading with real money fast, but you also have to take your time and absorb the information. So like the Carla Method, we can call it, the Carla Method allows you, it’s like the best of both worlds. You get to use real money, but you also it’s forcing you to just take it step, by step, by step. So the Carla Method that … ”
Clay: I don’t know. I may have to put this in a motion as a way to explain how to go through things because you appease all the masses. Real money, but also you’re forcing them to go slow. Is it okay if I use the Carla Method potentially?
Carla: Absolutely. Absolutely. Have fun with it. The other thing is make sure that the skillset, whether you’re buying to sell or selling to buy, they have to know that stop loss. I mean you did a beautiful job of zeroing in on that and that stop loss is critical.
Clay: Oh and to compound on that even more, if you’re in Carla’s spot where you can only check throughout certain times of the day, then I mean it becomes that much more critical, because as we discussed, the last thing Carla would want is to put it on, get in on a trade to that there’s no backing out point and then all of a sudden and walk away and come back and be like, “Oh well I just lost a whole lot more than $50” because she didn’t have the stop loss. So yes, I fully agree with Carla especially in her situation, but even if you’re not, even if you’re able to watch it, you should definitely always have that stop loss in place.
Clay: Well, Carla, we’re going to almost [inaudible 00:57:45] an hour, which is where I try to keep these time flew by-
Carla: Perfect.
Clay: … but I have some fun questions that I need to ask you first. Can I ask you some fun questions? Well, actually I take that back. I have to ask you the final question. If I were to give you a time machine, and you could go back to the start, what bit of advice would you give yourself?
Carla: Ooh, I’m not sure yet. I’m not sure. You know what-
Clay: That’s a good answer. For you, I honestly have no idea how you’re going to answer that. When I asked them like, “I don’t know if she should change anything. It sounds to me like … I mean she’s the founder of the Carla Method, it sounds like.” So I mean, I don’t know if you really should change anything.
Carla: I’m sure we’ll get there. If we went further back in time, and you had asked what stuff would you first invested in, and it would have been right out of high school, Nike. I missed that one.
Clay: Yeah, but that’s always … You’re not allowed to do that. I mean-
Carla: Ah, yeah.
Clay: … because honestly you should go back and buy bitcoin at like pennies and then sell it for $20,000 and you-
Carla: That’s is crazy.
Clay: We want to be having this conversation. You’d be … Well, we might be having it, but you’d have invited me out to your private yacht on your private island in your private country. But so no, I think you’re not sure. I think that’s a more than valid way to answer that question, given you are new and that you really haven’t done anything stupid. In fact, you’re going about this in a very wise way so-
Carla: Thank you.
Clay: Yeah, I agree. Some people it’s like, “No, no, no. Don’t try to wiggle out of that one.” But that was a more than valid response there.
Clay: All right, now we have the fun questions.
Carla: Okay fun questions.
Clay: I think I might spin it a little bit since you’re a teacher. So usually I … well maybe I’ll ask both, but usually I ask what’s your favorite movie, but I’m going to ask you what’s your favorite book?
Carla: My favorite book? I love the Harry Potter series. Remember, this is the age group that I teach. So this is the level that I’m usually with the middle school students. So right now it’s still the Harry Potter series.
Clay: Okay. Do you guys do like The Hobbit or anything? Lord of the Rings?
Carla: That’s more high school, but yeah, there are students that love that. We’re definitely into Star Wars here, the whole Marvel Universe and things of that nature.
Clay: Nice. I kind of, sometimes I wish I could go back to school because I mean there’s so much good stuff out there right now, but I don’t know. I guess there’s good stuff at all times. So it’s a matter of perspective. What about your favorite movie?
Carla: Favorite movie? I would have to go The Color Purple.
Clay: Is that the one that Oprah Winfrey in it?
Carla: It is, it is.
Clay: Okay. I don’t know. I have no idea how I knew that. I’m [crosstalk 01:00:23]-
Carla: I’m impressed.
Clay: I’m kind of proud of my-
Carla: I’m impressed.
Clay: I’m trying to impress myself to, I have no idea how I knew that, but I don’t think I’ve ever seen it.
Carla: That’s okay. It’s usually considered on the chic side and I get that. For more adventurous movies, that’s tough because I still love all the sci-fis. I’m into Star Trek and Star Wars, and those, but I did see, I will admit, I did see the Wolf of Wall Street and my eyes were very open as to penny stocks and the movement during that era. So that was very eyeopening.
Clay: Yeah, even for me that I thought I knew how it actually all kind of played out and al, I was just like, [inaudible 01:01:08]. No, I guess there was a lot even more than that. But yeah, that movie’s pretty crazy.
Carla: It is.
Clay: A movie I’m sure you will not be showing your middle schoolers.
Carla: Oh, definitely not.
Clay: I mean I guess you could-
Carla: Not even in my high school.
Clay: I guess you could show them, but you spend the next couple of weeks probably hearing from parents and the principal and all that sort of stuff. So but yeah, crazy movie for sure. What about your favorite food?
Carla: Oh favorite food? Spaghetti.
Clay: It’s hard to go wrong with spaghetti. You can’t really make an argument against that. Then finally, three words and these three words would need to be what you would use to describe a successful trader. So in your very, very early stages here, what do you think those three words would be?
Carla: Definitely discipline, organized and a storyteller.
Clay: The storyteller exactly, because that’s … which I know you know is, I mean that’s really what this is. It’s just understanding a story and then my making risk-based decisions off of that story so yeah, storyteller, that’s a great word.
Clay: Well, Carla thank you very much for because I know your schedule is kind of crazy and for using a field trip day to fit and come and telling your story and for just being courageous enough to do this. I did not know that you are that Carla and that new, yet here you are and still volunteered. So thank you very much.
Carla: Oh absolutely. It was a joy and I look forward to finishing the University and moving forward. I really enjoy all the podcasts and everything you’ve put out there. You’ve got all levels covered from stock 101 to more advanced, and you just kind of ease us through this process. Through that comfort and ease, we can build confidence to go on and create the world that we want with stock trading. So I want to thank you as well.
Clay: Well, you are welcome and yeah, thank you for just letting me guide you a little bit and give you my 2 cents. Thank you for giving me the Carla Method. This may be a reoccurring theme now on the podcast. We’ll see what happens, but hopefully you are open to coming back at some point in the future, so we can hear more and more about your journey?
Carla: Absolutely. I look forward to it.
Clay: Excellent. Excellent. Okay. For you listeners, before we go, and I know that the bell for Carla goes in like three minutes, so I’m going to keep this in three minutes, but if you are listening on iTunes or any of the other podcast players, please subscribe. Hit the ratings button, especially on iTunes. If you could leave us a rating that really helps us out quite a bit. Just one of those little things that a couple of clicks really helps us out.
Clay: If you’re listening at the site itself, claytrader.com there’s a live chat box there that you can interact with us. So if you have questions, comments, feedback, let us know. We’re always happy to hear from you. We enjoy hearing from listeners because we want to make this as beneficial for everybody as possible, but we thank you for listening.
Clay: Thank you again Carla, and we will see you all back next week.
Announcer: This has been the Stock Trading Reality podcast. Thanks for taking the time to hang out, to learn more about Clay and the Clay Trader community, including the trading team, premium training and more visit claytrader.com.

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