you
the reason that we're here in New York City was I wanted to bring Kevin out
here to New York get him in the mix expand his horizons show him just how
big the day trading the stock market money world really is I think a lot of
times people get caught up in the idea that YouTube that chat rooms and penny
stocks are the only thing that exists that's like 1% of the overall market
trading retail trading we've had a lot of fun we've been hanging out with Steve
Cole Asian is a trading for over 36 years I've done some interviews with
Stephen collation that you're gonna see soon but I also want to do an interview
with Kevin here though he's basically a beginner day traders comparing him to
Steve Galatia that's been trading for 36 years so I'm gonna ask Kevin some
questions that I think a lot of people out there can relate to and we'll see
his response a graduate college about four years ago but I said you know
whatever with that degree out I graduate with cinematic arts so me and Patrick
have some of that in common yeah we both got some red hair we both film both
doing the YouTube things we're not brothers when I found a training I was
in college and I was pursuing a degree that I was interested in but I knew I
didn't really want to do that in my entire life so I got in the day training
from that day forward really haven't missed the market at all other than last
couple days here with Patrick been looking at every single day
when I first got into date trading it was a lot like probably most of you you
go to the chat rooms you see a lot of the trainer's out there and you learn
from them so I started learning from all the Guru's as well been in most all the
chat rooms I've done that sort of thing now I'm on my own can't really be an
independent trader being in some of those rooms because when you have
thousands of people let's say that all Bona stock is going up and then dumps
right back down how can you be independent some say that you can be
that's what they want you to believe and want you to stay in those chat rooms but
as I've found over the last few years you know I've taken from all those
different teachers as gurus and from my own independent research and experience
your own experience is going to be your best teacher in the market a lot of us
we want to have that like Holy Grail we want to have someone to just tell us
what to buy and what to sell but your own individual experience is really
going to be your best teacher that gut telling you when to get in and out of a
trade me and Patrick we're talking about that a few hours ago just about how you
know what's the exact strategy you have a lofty wise Patrick that that's like
it's just over the years you know you get that combined experience that turns
into your gut and when your gut tells you to get in something you get into it
the reason I started getting into shorting a lot more is just because
there's not as much predicting over the last few years three years actually I've
been completely long bye skies that's because all the chat rooms I was at
mainly we're all along by so I just kind of naturally and sheepishly started
doing the same thing but shorting you react it's a lot more reactant rather
than predicting where volume is going to come in and that's why I did a lot of
times that's where I you know had a lot of flaws I was trying to predict okay
this patterns looking good let me get into this stock and there be no volume
there there's no point in trading a stock if there's no volume there's a lot
of different variables I need to line up that look for it each and every day such
as it's our catalyst what's the float on it what's the volume like what's the
price action there's a lot of different things we need to look at when
considering is this a good short is it a good long it's hard to get in first to a
long unless you're predicting volume right because otherwise volume already
comes in and you're late to the party but with shorting you can be in at the
very top you know show up late you can show up late on the shore and being at
the very top top taking a stock you can't bottom take a stock when there's
no volume you know predicting volume coming in unless you got a thousand
people following your trades and so there's probably a reason why most of
the chat rooms you know are buy on the bottom of low flow stocks and not
shorting them so yeah I got into shorting more cuz it's a lot easier for
me in my opinion right now I'm so grown with that been doing a lot more recently
my worst day training day goes was as far as how much I lost or just in
general like emotional whatever yeah emotional he did just felt really
defeated yeah it was in the summer this past summer trade an NCT while I went
offshore and had to deal with all the emotions over training or revenge
trading that sort of thing the emotions really got to me because I had never
really experienced it before so I went offshore I started over trading revenge
trading and felt very defeated defeated by my own emotions we have to control
our emotions not let our emotions control us so that was definitely a
learning experience there in the summer you have to ask yourself that before you
ever get into a trade guys most amateur traders they get into a train they're
like oh how much can I make if you want to be a professional trader
you have to ask yourself how much am i risking on this trade before you ever
get into a trade free to find your risk to say this is the risk level on this
trade and then start looking at the money you know amateur traders they just
focus on the green of professional traders they focus on managing risk
I was gonna say the Patrick's he's a really nice guy contrary to what a lot
of you may think it's been a great experience guys I mean me and Steve he's
been doing this for 36 years train futures now meaning and his love his
enthusiasm for what he's doing I mean that was something really that was kind
of eye-opening for me a lot of people with they've been working somewhere for
30-some years they kind of hate their life but Steve he's been doing this for
36 years so that gave me some encouragement it's like yeah I'm more in
love with training now than I was three years ago and I hope I'm gonna be like
Steve as well in 30 years just be so much more excited than I am now
me and Donnie as well me Patrick and Donnie grabbed a beer last night in the
city what a character I love Donnie they had a great time with
him as well really really enjoyed that the goal for me is not necessarily like
a figure amount it's not a number that I want to make I just want to be a
consistent profitable day trader I mean that's my goal honestly I don't think
about necessarily the money and I know you and you'll see that if you look at
the channel you know I'm not concerned about the number I make I'm concerned
about am I am I making the right trades am i consistent am i profitable am i
managing that risk well I love trading so that's why I do it
when you first get going I mean a lot of us get into thinking we're not gonna
have to put in a lot of work and we're going to be making a lot of money I mean
a lot of people you'll hear them they'll say I'm gonna retire and to start
training making a lot of money for the rest of my remaining years quite the
opposite you're gonna put in a lot of work at first and you're not going to
make anything or you're going to lose some at first so go into trading with
the mindset and attitude of I'm going to be learning a lot I'm going to be paper
trading I'm gonna pay some market tuition with the end goal and in prize
in mind I mean you've got to stay positive you got to stay focused and
driven very motivated very confident you're gonna be your worst enemy in this
market there you have three enemies you have the market you have other day
traders but most importantly you have yourself yourself you're the biggest
enemy when it comes to trading because it's your emotions and you allow
yourself to feel defeated don't allow yourself to feel defeated
don't allow yourself to get defeated guys
they don't think about I don't really share it a lot you know because most
people they'll say that day training you know is a crapshoot
they don't really admire that type of work at all most of the older
generations when they think of training they get a little turned on five because
other generations they don't understand how you can kind of make money on the
computer and that sort of world they want you to Paris when they think of
their kids they want to be doctors lawyers you know this sort of thing so
your family can really be your worst enemy in some ways as far as I go
because we often come fight and then we listen to them we have an open ear to
our family to our close friends and that's why I think it's really important
guys to surround yourself with people who are like-minded who are focused and
driven very excited you know to be here on patchak you know call him a friend
and he's been there for me he really helped me out and he's married and he's
like-minded we're both motivated we're both driven surround yourself with those
type of people you know even if they're not millionaires even if they don't make
a lot of money those are the type of people that are really gonna push you to
be the best new I take my profits off way too early I've
always done it for the last three years and one way for me to really negate that
flaw is to take a partial position off it really helps with that emotion I I
know people that don't struggle with that emotion a lot you may not struggle
with that emotion it's been my number one you know flaw because as soon as I
see green naturally I want to take it off a lot of you guys want to do that as
well it's just natural but a lot of things that we have to do in the market
we have to be a little unnatural right because 90% traders are losing money
they're doing the natural thing the steps I'm taking to really to prepare
myself to become a more successful and consistent traders start taking partials
and letting the rest ride out that's something I really want start focusing
on it's very difficult for me to do it has the last few years so either all in
the long shot or the short side guys take you know 50% 75% off at your target
and then let the rest rot out if they come back to your entry you know you're
still green on the day but you can make a lot of money you can make a lot more
money if you let those leftovers fade or on the long position if you let those
continue to move as well for you a little advice little lessons that he's
learned over the years trading and kind of where he's at right now it's
interesting to kind of see the different mindsets you know everybody kind of
battling with different things everybody's got their own little thing
to their valley everyone's got their own little problem you know FOMO
you've got the taken profit too early you've got the not cutting your losers
all these little things keep people from coming profitable keep people from
becoming consistent and it's not so much that people don't know that they have
that problem not so much they can't tell you hey the reason I lose money day
trading is because I don't cut my losers or the reason that I don't make my day
trading is because I don't let my winners run so it's easy to identify
those problems but the problem here the problem problems human emotion is it's
hard to actually follow that ideal once you're in a trade once your
under a loss once you're losing money are you able to cut off the trade so big
thanks to Kevin therefore dropping some knowledge and sharing his experience
here I'm excited to see what Kevin does over the next several years here on
YouTube the goal year was to bring Kevin out here let him see you know what else
is going on out there talk to him give him some advice now that I'm an expert
by any means but thousands of my ideas around maybe find someone that's close
to you locally I'm sure there's other traders that are local to you maybe meet
up maybe some meetups know got some coffee with some other traders and talk
about the issues that you guys have together
fomo not cutting your losers not entering a trade fear of missing out
it's probably one of the biggest issues with new day traders and like your Kevin
there's ways around it there's ways to battle it but you got to put in the work
you got to put in the effort so there it is make sure you check out Kevin there's
a link down below to his channel I'll talk to you guys later on