So let's talk about the trader
journey, because there is
a roadmap to becoming a successful
trader. And in this video
right now, I will give you
this exact roadmap because
most people who are new to trading
don't have a roadmap.
Because for most people, here's
what their journey looks
like. I want to show you the right
journey and the wrong journey.
But let's talk about the wrong
journey first, because this is what
most people do.
So phase number one of the
wrong journey is "let's buy a
stock." Most traders start their
journey by buying a stock.
Hey, this is how I started.
If you have seen my own trading
journey, then you know that the
first stock I bought was VW,
Volkswagen,
right? The German car manufacturing.
You see, this is how most people
start their journey buying
a stock.
And then often after this,
they move on to phase number two.
And here's phase number two.
Phase number two is "Hmm...This
doesn't work." So
let me show you what I mean.
Often you traders are buying a stock
that's promoted in the news or
a stock that "makes sense"
to them. But most of the time, it
doesn't work. Let me show you a few
examples.
There is actually a website
that is tracking what stocks
Robinhood traders have.
Now, again, nothing against
Robinhood traders.
But this is where most people who
are new to trading, who start
trading, they start with Robinhood.
Now, here's the leaderboard.
You see, these are the most popular
stocks. For example, Ford is
in 932,585 Robinhood
accounts. So let me just show this
to you, because when you click on
this, here's what you see.
You see that most of the Robinhood
traders bought Ford
here. I want to say probably at
$5.37. And they kept buying and
buying and right now it just raised
a little bit, right?
Because this is where, "OK Ford must
be a good company.
So let's buy this." Let's take a
look at some other ones.
Here is GE.
No idea why GE is so popular among
Robinhood traders.
But as you can see, most bought GE
right here when it was at the low of
$6.32.
Right now it is trading at $6.60.
So no idea why this is so popular,
but doesn't that sound familiar that
most people start this way?
Also, American Airlines, you see
a lot of Robinhood users put
American Airlines in their account
when American Airlines was trading
at around $14.
So let's take a look at American
Airlines, which has been trading at
$14, but right now trading at $11,
so just piddling around there.
So anyhow, let's get back to the
traders journey, because I want to
finish here the wrong way to do it,
but then also the right way.
So you see, after buying a stock
and then "hmmm," phase number
two "This doesn't
work." The stock is just going
around. I seem to have bought it at
the high.
This is when most traders move on
to phase number three.
And here is phase number three.
Phase number three is "I
need an insider tip" or
maybe an "insider strategy."
Doesn't really matter because this
is where they believe, you see
if they're doing what everybody else
does, it doesn't seem to work,
right? I mean, you have just seen
it. The most popular stocks here
in Robinhood accounts,
I mean, they're just piddling around
there they're not taking off.
So this is where most traders
think, "OK, I need an insider tip or
an insider strategy." And so they
Google "best stocks to trade"
or "the best stocks to buy in 2020."
And they find these flashy
newsletters that promise
them the next big stock.
You see, it's like buying Amazon
for $10.
And by the way, right now, Amazon is
trading at $3,000.
So they buy the newsletter or
the trading strategy that promises
them the most outrageous returns
and then they move back to phase
number three.
Does that sound familiar?
So let's go back here to phase
number three okay, "I need an
insider tip strategy." Okay
we were there at phrase number three.
Then it goes back to phase number
two. "Hmm...
This doesn't work," right?
And now, they are stuck on the
Ferris wheel and go from
phase two to phase three
and round and round and round.
"I need an insider tip." By the way,
I did do a video for you on these
insider tips.
I did do a video on the best
5G stocks. So if you're interested
in learning more about the best 5G
stock and the truth behind these
newsletters, I'll leave a link in
the description so that you can see
it. But let's talk about these
different phases.
So they go round
and round and round until
they lose all their money and then
they move on to phase number four.
And phase number four is where they
say, you know what?
"You just can't make money
with trading." And I mean, you have
seen it. You know these kind of
people, that's when they get bitter
and frustrated.
And, hey, I completely understand.
Of course, they are not happy.
They just lost a bunch of money.
And of course, they vent and say,
"This is all is scam!"
And you know what? A lot of it is.
I actually did a video on one
of these scams.
I'll post the link in the
description you'll get a kick out of
this. It's one of these videos
where somebody promises that your
money doubles every week or
something like this.
Take a look at the video, you're
going to love it.
Anyhow, so after this, they move
on to phase number five and phase
number five here is simply giving
up and say, "OK, this this
does not work.
I don't want to do this." And that's
usually the end of their trader's
journey. And I'm sure that you know
somebody who has been
down this path, the wrong journey
here. So anyhow, as you can see,
when you choose this trading
journey, you're almost guaranteed to
lose money and to get frustrated
and you get sick going around
on the Ferris wheel or
is it actually a hamster wheel?
Going from phase two to phase three
and back to phase two and three.
So anyhow, let's talk about the
the right trading journey.
But before I do this, does any
of this make sense to you?
If so, do me a favor,
click on Like or leave
a comment saying, "Yes, this makes
sense." If any of this sounds
familiar at all or if you know
somebody who has been on this
trading journey.
All right. Very cool.
Awesome. OK.
So what is the right trading
journey? Let's talk about this right
now. And with the ride trading
journey I want to actually give you
also very specific examples on
how I can help you.
Does that sound good? What would you
like to have some examples on
the resources that that I have for
you here on this channel and on my
website?
Okay, good.
So let's talk about phase number
one. First of all, you need
to decide what
type of trader
you want to be.
There we go. You know that I
primarily use swing trading
strategies, which means I'm
typically in trades for a couple
of days to a couple of weeks.
And you see there's ultimately
three categories people
tend to fall into.
And a lot of this ultimately boils
down to how much you want
and can spend looking
at the markets.
You see, for me personally, I don't
like sitting at my computer all day
long, so swing trading is
what I prefer most.
Anyhow, here are the three
categories.
Number one type of trader investors,
this would be buying and holding
stocks or maybe ETFs,
exchange traded funds, for longer
periods, usually months
to years.
And then on the other side
of the extreme, you have day traders
where they get in and out of an
asset like a stock, ETF, futures,
options on the same day.
And then the third category, which
is right in between where I like to
be, are swing traders.
That's where you get in and out of
an asset like stocks or options
within a few days or
weeks. Now, if you're not sure
yet of what type fits you best,
then just keep watching these videos
in which I show you the trading
strategies that I personally use.
Because this might be helpful for
you and also just make sure to
subscribe to this channel so that
you never miss a new video
or any time I do a live
session.
OK.
Have you subscribed?
Hit subscribe.
Now. OK.
Because let's talk about step number
two. After you decide, after,
after you decided what kind
of trader you want to be now it's
time to pick
a trading strategy.
And how do you pick the best trading
strategy? Well, this is where I did
another video that I'll link to in
the description where I talked about
the best trading strategy.
Every trading strategy has
pros and cons.
Now, I personally have a
core swing trading strategy
that I've been trading for over
10 years and it's called the
PowerX Strategy.
As you know, and I'll be happy to
send you a copy of the book for free
all I ask is that you pay for
shipping and handling, right?
Anyhow, so it's a trend following
strategy. And you see I personally
don't care if markets are going
up or if they are going down as
long as there is a trend.
Whether it is an uptrend or a
downtrend.
Now, if you would like to learn more
about the way how I trade I have two
resources for you, because I
promised that I have resources
for you here.
First, it's a website, it's called
MyTradingRoutine.com.
And on this website, I'll show you
exactly how I trade
and the tools that I use.
We'll talk about tools here in a
moment. And then, of course, the
book, which is the PowerX
Strategy. Now, I might be biased,
but I think it's a really awesome
book. Just the cover alone.
I mean, has to be awesome, right?
And I really highly recommend that
you get a copy of it. But, hey,
there are so many trading
strategies, I don't care which one
you pick as long as you pick
a strategy. Now, once you understand
the strategy, the next step
is phase three, you need to have
the tools to help you
make the best trading decisions.
Because you see trading can
be simple and
you can make it difficult.
For me, it's always best
when I keep it simple.
You see, I personally
use a tool that takes a lot of
the guesswork out of it and find
solid setups and it's called the
PowerX Optimizer.
You probably have heard me talk
about this.
This is what the tool looks like.
So it makes it super easy to find
the right stocks because it's
a software that makes trading
stocks and options easier, at least
for me than ever before.
With just a few mouse clicks
the software runs millions of
calculations in a matter of seconds,
I mean, I'm not that smart that's
why I let the software do it.
And then it gives me that the 5 to
10 high probability setups and
options setups for every trading
day. And it also really helps me
to keep my ego in check because
it gives me clear entry and exit
signals so that I never hold
onto a winner or loser too
long. So as you know,
on average I'm spending less than 15
minutes each day finding and placing
my trades. And I think
it's truly that simple.
Anyhow, so just to write it down
here, I like to use calculators.
If you have any of my trading
strategies, you know that I like to
have the Theta Kings Put Calculator,
right?
I like to have the Income Wheel
Calculator, and then of course,
I like to have here the PowerX
Optimizer, anyhow.
Let's move on to phase number
four, because the next part of your
trading journey after you mastered
the one strategy is this.
It is expanding
your knowledge.
Let's talk about this and what it
means.
You see, there are other types of
strategies and financial vehicles
available to trade.
And I'm a very big fan
of the saying, "The more you learn,
the more you earn." Isn't that the
truth? Now, for most traders, they
start off by buying and selling
stocks and from there
they make their way over to trading
options, which makes a lot of sense
because options can be a great way
for you to rapidly growing account.
And again, with the PowerX Strategy,
we like to keep things simple by
often just buying calls and puts.
So it's perfect for beginners.
But as you'll find out, there's
more than one way to
get long or short with options.
And I've recorded a series of
both of beginners and advanced
option videos that are a great way
to get started if you want to start
trading options.
And I have made a few different
playlists that I'll post in
the descriptions here.
It's number one Options
101, Options 201 and
Options Income Trading Strategies,
anyhow.
So let's talk about step number
five, the next part of your journey.
The next part of your journey is
then trading for
a living.
I mean, ultimately, that
is what you want to do as
a trader. And when you're ready
for this phase, then I think
you and I should talk because I like
working with people who are
committed and want trading success.
And that's why I personally work
with a handful of traders in our
Freedom Mastermind.
As you can see, these journeys
are wildly different.
So it's very important that you
don't fall for the trap of the wrong
journey, because honestly, this
is how in the beginning I lost
a lot of money with trading.
You see, if you want to succeed with
trading, do it right.
And now you know how,
these are the five phases
of the right trader's journey.
If you enjoyed this video, please
do me a favor and click on like,
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I'll see you in the next video
that's probably popping up here
right now.