I have zero trading experience and I suck at math can I be a successful
trader where do I start David Jaffee with BestStockStrategy.com
BestStockStrategy.com where I earn around a million dollars a year by trading options and I
teach my students how to be successful traders and all of them learn the
necessary skills how to make money in the stock market so the reality is that
when if when you're just starting out if you have some negative beliefs that you
think that you're bad at math or you don't have any training experience it's
actually quite simple to learn the methodology what you have
to do first and foremost is forget everything that you've heard about the
stock market and limit the amount of information that you take in if you only
have one or two informational sources it's much easier because you're
mitigating the chances that you're going to be overwhelmed the second thing is
you need to evaluate how large your account size is and therefore how many
securities are going to track so for example if you have under fifteen
thousand dollars you should only have trades on at one time on a maximum of
two securities preferably one so if you're only making trades in one
security it makes it incredibly easy and your watchlist which means the universe
of stocks that you're actually going to be placing trades on should only consist
of around seven or eight stocks at most I have a multi-million dollar account
and now I only have trades on around five securities at all times these are
actually the securities that I trade you can use these as well so Facebook Amazon
Boeing Lockheed Martin and then I usually have a trade on either in
Raytheon Goldman Sachs of gaming stock like Activision or take-two interactive
and PayPal I'm sure that you've heard of them is all of these companies like
Facebook Amazon Boeing you've written in their airplanes Lockheed Martin which is
the defense contractor etc the point is you want to keep things incredibly
simple I make Iran a million dollars a year and my I make the same trade like
80% of the time and realized that whether you're a good at math or whether
you have any trading experience after a while when you do something enough it's
going to become second nature you're not even going to think about it
this isn't a question based upon skill or intelligence or information this is
something you can be successful at trading by simply being disciplined and
making good decisions I want to repeat that whether you're a good at math or
have any experience is completely it doesn't it doesn't matter it's
completely negligible in the final outcome of whether you're going to be a
successful and profitable trader the only thing that matters is making good
decisions and being disciplined and that's something that you can learn with
experience with reps meaning like with you know when you the more trades you
make the more times you limit the mistakes that you make then you're going
to be successful and I just want to quickly break down the process to try to
keep it as simple as possible so that you realize that this isn't a game of
intelligence or calculating probabilities in your head or anything
like that all it is is just simply getting comfortable being disciplined
minimizing your mistakes and repeating the same thing over and over and
actually the funny thing is my female traders are way better than my male
traders because my male Traber my male traders they miss a tribute probability
towards skill and they take on too much risk so a lot of my best traders and my
best students are actually female because they respect the negative
outcome more you know more than more than the male students and they take a
lot less unnecessary risk so let's say I'm someone who has zero trading
experience and I'm not good in math and I my count size is $10,000 this is what
I would get I would simply create a watchlist
of let's say 10 stocks all right I'd have Facebook Amazon Boeing Lockheed
Raytheon Goldman Activision ttwo and PayPal on my watch list then I would
choose up these I would have positions on one or two at one time so for
Facebook right now is trading at around 175 dollars I would look at the trading
range over the pass a month or two I would see that over the
past month it's been trading at a range of around 170 dollars to $180
I would simply wait until it falls so the low end of the range at around 172
and then I would sell a naked put with a strike price of around one hundred and
fifty eight dollars if a lot of these terminology that I'm using doesn't make
sense to you right now like strike price and cuts and things like that then you
can click on one of my other videos which will provide you with a full
tutorial on how to trade options but that trade that I outlined for you has a
statistical probability of being profitable around 95% of the time and
once you understand that trade that I just outlined you can literally make 50%
every single year by just simply hitting singles and replicating that trade every
single time so what I would do is I would once you have that trade and you
make that trade you don't have to read any articles or do any research or read
10 KS or 10 Q's or annual report because this is not an information game this is
a decision-making game you can read and go on seeking out for calm and try to
educate yourself and look for confirmation bias so that you can feel
better about yourself for making that trade but the reality is that all those
people who are reading those articles they're not helping themselves be
profitable traders instead what they're doing is they're mitigating their
anxiety and they're mitigating their fear and they're looking for validation
they're not looking for truth so reading those articles does not help you at all
which is why you don't have to do it which makes it incredibly simple so if
you have no experience create open up a brokerage account you can use tasty
works or a trade or Interactive Brokers or anything like that watch a few videos
on you know or you can call their customer support so you can learn how to
actually place the trade you know they're gonna charge you for each trade
that you make so they definitely have educational videos on how to on how to
actually enter these trades I make every single trade from my phone I never use
the desktop software and I'm making the same trade all the time I use a very
basic app I don't look at charts or anything like that although I guess I do
look at chart to charts to get a sense of the trading range but after you
get comfortable with the trading range of these like five or ten securities
you're gonna know like pretty much where they're trading at so these are stocks
that you already know Facebook Amazon Boeing Lockheed Martin et cetera
you get comfortable like right now Facebook is trading around $175 Amazon's
trading it around $2000 Boeing I think is trading it around $345
$345 dollars Lockheed is trading around $325 RTN is around $200 dollars
Goldman I haven't read you in a while but I think it's around like 235
PayPal's around 90 ttwo is around 130 and Activision is around seventy bucks I
just quoted all of these as of September first and if you want to look them up
tell me how right I am because I just quoted this off the top of my head and I
can tell you the trading range of all of them that is not skill I'm not special
the point is that when you look at something enough and you do something
enough it becomes super easy I don't even have to think about it and that's
why even though you have zero training experience and you think that you're bad
at math and you got a D and you know in trigonometry or calculus that's that's
of this mean shit those are just negative thoughts that are holding you
back that are hindering you from accomplishing and achieving your
potential and your goal the reality is keep it extremely simple
you don't have to research anything you don't have to read any articles you're
just making the same trade over and over keeping it very simple and you are going
to get paid and be a profitable trader as long as you're disciplined and make
good decisions and that is what I teach all of my students to do go to
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any questions let me know and thank you for your attention