1 00:00:00,000 --> 00:00:02,920 This podcast is brought to you by the award-winning prop firm, Fidel cre, 2 00:00:02,980 --> 00:00:04,600 and is for entertainment purposes only. 3 00:00:04,620 --> 00:00:08,280 95% Of traders fail. And we accept that as a truth, 4 00:00:08,620 --> 00:00:11,160 as that's just the norm. And I took a look at that. I'm like, well, 5 00:00:11,160 --> 00:00:14,040 why are we accepting that? Why can't we do something different and change that? 6 00:00:14,060 --> 00:00:16,360 So I pieced together what I think is a very fair assumption. 7 00:00:16,500 --> 00:00:18,960 If you look at most courses, you look at most mentorships, 8 00:00:19,270 --> 00:00:22,040 they pretty much more or less all offer the same thing, right? 9 00:00:22,040 --> 00:00:25,480 You got your community chats, you got your PDFs, you got your videos, et cetera, 10 00:00:25,480 --> 00:00:26,130 et cetera. 11 00:00:26,130 --> 00:00:30,400 There is no real difference between how these people are being taught and people 12 00:00:30,540 --> 00:00:31,373 are still losing. 13 00:00:31,620 --> 00:00:36,040 So maybe just maybe there's a connection between how traders are learning from 14 00:00:36,040 --> 00:00:39,880 their mentors and how many traders are actually failing. But the problem is, 15 00:00:39,940 --> 00:00:41,920 and this is kind of how I close the gap with, 16 00:00:41,920 --> 00:00:45,240 from what I've seen from my losing students, is that discipline, patience, 17 00:00:45,390 --> 00:00:47,080 consistency, trust in your process. 18 00:00:47,340 --> 00:00:49,400 All these things that feel good when you hear them, 19 00:00:49,400 --> 00:00:53,560 but don't actually make you good. They are outcomes. They are not things you do. 20 00:00:53,670 --> 00:00:58,400 They are things you are or become. So in order to be disciplined, 21 00:00:58,470 --> 00:01:00,560 what are the action and habits that create that? 22 00:01:00,710 --> 00:01:04,280 I've seen that the winners have closed that gap, whether they meant to or not. 23 00:01:04,340 --> 00:01:06,400 And now I wanna talk about, you know, the mentors for a sec. 24 00:01:06,480 --> 00:01:08,480 I don't think they're intentionally making this mistake. 25 00:01:08,640 --> 00:01:09,960 I just think they aren't aware of it. 26 00:01:09,960 --> 00:01:12,920 And the people who have found success in trading have just come by naturally, 27 00:01:12,980 --> 00:01:17,240 but haven't been able to put it into words or onto paper onto the computer for 28 00:01:17,440 --> 00:01:21,040 somebody else to learn from that. I have a series of processes. Alright? 29 00:01:21,160 --> 00:01:22,400 I have something called the show method. 30 00:01:22,580 --> 00:01:25,000 You don't need to know any more than you already know. 31 00:01:25,330 --> 00:01:29,240 Skill and education and knowledge is not lacking in this industry. 32 00:01:29,310 --> 00:01:34,240 What is lacking is that gap to create the way to fill in that gap between the 33 00:01:34,240 --> 00:01:36,360 skill, which is the strategy and the outcome, 34 00:01:36,370 --> 00:01:40,160 which is discipline patients successful trading, which are all one and the same. 35 00:01:40,160 --> 00:01:44,720 Episode 225 folks. We've got Tyler Malone back on the show here after two years, 36 00:01:44,900 --> 00:01:48,360 and he's been on a bit of a journey where he's come up with some amazing 37 00:01:48,360 --> 00:01:51,280 insights about the whole industry, the whole trading industry, 38 00:01:51,700 --> 00:01:54,440 and why so many people struggle. Uh, 39 00:01:54,670 --> 00:01:59,360 he's also managed to implement some of these insights and explains how they all 40 00:01:59,360 --> 00:02:02,960 work in today's interview. Um, alongside that, 41 00:02:03,050 --> 00:02:06,200 we've did a back testing video with Tyler afterwards. 42 00:02:06,220 --> 00:02:10,160 So you're gonna get to see a bit about his strategy and find out the biggest 43 00:02:10,190 --> 00:02:14,080 mistake you are probably making in your own back testing may be the reason why 44 00:02:14,080 --> 00:02:16,240 you hate doing the back testing if you're not doing it. 45 00:02:16,460 --> 00:02:20,000 So that's all coming up here on Trading Up. But before we jump into it, 46 00:02:20,000 --> 00:02:20,920 let's hear from my sponsor. 47 00:02:21,250 --> 00:02:24,240 Fidel Crest is an award-winning pro firm that funds traders with up to 48 00:02:24,240 --> 00:02:27,240 $2 million and offers generous profit splits up to 90%. 49 00:02:27,300 --> 00:02:31,240 So one thing that really sets Fidel Crest as their no minimum trading days 50 00:02:31,240 --> 00:02:34,600 requirement on their challenge and verification stages. On top of that, 51 00:02:34,600 --> 00:02:37,720 traders who successfully passed the challenge and verification stages are 52 00:02:37,960 --> 00:02:41,960 eligible to receive a bonus payout of up to 30 K on top of their funded stage 53 00:02:41,960 --> 00:02:43,800 profit split payout on performance. 54 00:02:43,980 --> 00:02:48,560 And be sure to use promo code trading that all One word to get 10% off your next 55 00:02:48,560 --> 00:02:49,010 challenge. 56 00:02:49,010 --> 00:02:52,200 Click the link in the description below or the card above to find out more. 57 00:02:52,200 --> 00:02:53,720 Alright folks, here we are on trading. 58 00:02:53,740 --> 00:02:56,120 Now we've got familiar face in the house again, 59 00:02:56,120 --> 00:02:58,840 we've got Tyler Malone back on the show after two and. 60 00:02:58,840 --> 00:03:02,960 A half years, mid pandemic. It was the last time you were on . 61 00:03:02,960 --> 00:03:05,400 Welcome back, what have lots changed in the world since then? 62 00:03:06,500 --> 00:03:09,000 Oh, yeah. And it's, it's amazing to be you back. 63 00:03:09,030 --> 00:03:12,120 I've been wanting to do this for quite some time, but, uh, 64 00:03:12,120 --> 00:03:16,640 I wanted there to be some big changes happening first before I could come on 65 00:03:16,640 --> 00:03:19,600 this and actually provide some, uh, 66 00:03:19,690 --> 00:03:23,960 value and very valuable advice essentially that, uh, 67 00:03:23,960 --> 00:03:24,920 people really need to hear. 68 00:03:25,580 --> 00:03:28,280 And I think what, what, what, what's, what we're gonna talk about today, 69 00:03:28,310 --> 00:03:31,040 what Tyler's gonna talk about today is, is probably gonna blow your mind, 70 00:03:31,040 --> 00:03:31,540 cuz is, 71 00:03:31,540 --> 00:03:35,840 is a complete perspective shift to a lot of the things I think you've heard in 72 00:03:36,040 --> 00:03:38,360 previous shows or around the internet, et cetera. 73 00:03:38,620 --> 00:03:41,800 So hopefully this could be the answer to, you know, 74 00:03:41,800 --> 00:03:44,800 what's missing from your trading if you still haven't made it, uh, 75 00:03:44,820 --> 00:03:47,880 as a successful trader yet. So, um, but before we dive into that, 76 00:03:47,920 --> 00:03:50,880 I just want to sort of touch base on what have you been up to in the past couple 77 00:03:50,880 --> 00:03:51,713 of years? 78 00:03:52,140 --> 00:03:54,680 Oh man, I've been all over the world. 79 00:03:54,980 --> 00:03:59,960 So the last time that we had our, our, our last, our last, 80 00:03:59,980 --> 00:04:03,960 uh, call, um, I was still living in Canada. I'm for anyone who doesn't know, 81 00:04:03,960 --> 00:04:06,240 I'm, I'm from northern Canada. And, uh, 82 00:04:06,240 --> 00:04:09,560 shortly after that I moved to Mexico for six months because I said, 83 00:04:09,560 --> 00:04:11,120 you know what? Sick of this winter, 84 00:04:11,180 --> 00:04:13,520 and if you've ever been in Northern Canada or you've ever heard of it, 85 00:04:13,520 --> 00:04:18,440 it is just inhabitable, , very inhabitable. And, you know, 86 00:04:18,690 --> 00:04:20,560 spent some time in Mexico, um, 87 00:04:20,820 --> 00:04:23,680 and then went back to Canada because it wasn't quite what I, 88 00:04:23,680 --> 00:04:26,640 what I had expected, what I needed. And, uh, 89 00:04:26,740 --> 00:04:30,320 and then the fall of 2021, 90 00:04:30,720 --> 00:04:35,160 I ended up taking a trip to Europe and landed in Spain, 91 00:04:35,310 --> 00:04:36,143 checked it out, 92 00:04:36,300 --> 00:04:41,110 and from the airport ride to my 93 00:04:41,370 --> 00:04:45,230 Airbnb in the city I live in now in Spain, I just looked around and I said, 94 00:04:45,230 --> 00:04:49,630 yeah, this is it. So I got everything together and by the end of 95 00:04:49,910 --> 00:04:54,790 January, 2022, I had an apartment in Spain and I've been here ever since. 96 00:04:55,570 --> 00:04:56,790 Wow. And you're loving Spain. 97 00:04:57,610 --> 00:05:01,750 Oh my God. It is just, it's something else, the lifestyle here and you know, 98 00:05:01,770 --> 00:05:06,270 as traders we always talk about, uh, being free and, 99 00:05:06,730 --> 00:05:10,310 you know, living by our own terms and you know, 100 00:05:10,610 --> 00:05:11,950 we can all relate to that, 101 00:05:12,250 --> 00:05:17,210 but you don't really know how it truly feels to do that until 102 00:05:17,210 --> 00:05:21,290 you come into a, a place like this where it's perpetual summer, where the, the, 103 00:05:21,510 --> 00:05:23,930 it has all the amenities of the developed world, 104 00:05:24,350 --> 00:05:29,010 but still the laid back feel of of of vacation hotspot at the same time. Yeah. 105 00:05:29,270 --> 00:05:32,970 So it's, it's the best of everything. And, you know, being, you know, 106 00:05:33,010 --> 00:05:36,330 a traveler that I have in my entire life, it seems only fitting that I, 107 00:05:36,450 --> 00:05:37,730 I landed here. Yeah. 108 00:05:37,880 --> 00:05:39,450 It's always been one of the places that I, 109 00:05:39,610 --> 00:05:43,290 I think I said maybe a friend asked me 10 years ago, where would you wanna be? 110 00:05:43,540 --> 00:05:45,090 Where would you wanna live? And I said, Spain, 111 00:05:45,270 --> 00:05:47,450 I'd love to live sort of southern Spain. 112 00:05:47,990 --> 00:05:48,823 Mm-hmm. , um. 113 00:05:49,070 --> 00:05:52,050 For maybe a couple of years. Just do it. I just remember the tappers. 114 00:05:52,050 --> 00:05:55,610 That's all I remember is like when I was there last. Um, right. 115 00:05:55,700 --> 00:05:59,580 Let's dive into this, uh, this trading related chat that we're gonna have. So, 116 00:06:00,120 --> 00:06:01,620 uh, to start off with, I mean, I, 117 00:06:01,620 --> 00:06:03,900 I know a lot of it's to do with you being a mentor, 118 00:06:04,680 --> 00:06:09,220 uh mm-hmm to students and how you've sort of decided to shift what 119 00:06:09,320 --> 00:06:13,660 you, or how you go about teaching or I suppose molding students. I mean, 120 00:06:13,660 --> 00:06:16,860 do you wanna start off by giving us some background as to what you're gonna talk 121 00:06:16,860 --> 00:06:17,693 about today? 122 00:06:18,480 --> 00:06:21,810 Yeah, so when we talk last, and actually it's a great starting point, and we, 123 00:06:21,810 --> 00:06:26,210 we start from where we talk last is I was kind of taking the traditional route, 124 00:06:26,380 --> 00:06:28,930 right? It's like I saw what other people were doing. I'm like, okay, 125 00:06:28,930 --> 00:06:31,770 that's working, but people are still failing. 126 00:06:31,870 --> 00:06:36,250 So what can I do differently in order to, you know, make a big, 127 00:06:36,330 --> 00:06:40,610 a bigger and better impact? And so I developed my, 128 00:06:40,910 --> 00:06:43,490 my very first course that I sold, or that I, 129 00:06:43,610 --> 00:06:48,310 I provided to everybody after our last call. And it worked really well. I mean, 130 00:06:48,350 --> 00:06:51,510 I was turning over traders in about, you know, four to five to six months. 131 00:06:51,510 --> 00:06:54,870 They were learning the strategy, they were learning the skill. Um, 132 00:06:54,870 --> 00:06:58,510 we were doing a very, very, very heads on psychology approach. Um, 133 00:06:58,610 --> 00:07:02,030 and actually above that we, we took a very philosophical approach, 134 00:07:02,090 --> 00:07:05,590 cuz in the meantime, I had gotten gotten really big into stoicism, 135 00:07:05,590 --> 00:07:08,830 which is an ancient Roman philosophy. And I realized how many, 136 00:07:08,850 --> 00:07:11,510 how many parallels it had with the, 137 00:07:12,370 --> 00:07:16,070 the characteristics and the traits that we need as traders in order to succeed. 138 00:07:16,490 --> 00:07:19,070 And so I'm like, you know what, people could benefit from this. 139 00:07:19,070 --> 00:07:23,630 So I built a course around the main concepts of that philosophy, 140 00:07:24,210 --> 00:07:27,590 and it worked really well. Uh, but at the same time, 141 00:07:28,070 --> 00:07:31,070 I was noticing that I was having the same problems with my students, 142 00:07:31,070 --> 00:07:33,790 that everyone still has w they were having, you know, 143 00:07:33,890 --> 00:07:38,390 my people were still asking, well, what's next? Well, what do I do now? And, 144 00:07:38,570 --> 00:07:41,670 and I'm sitting back and I'm just like, well, what, what can we do different? 145 00:07:41,670 --> 00:07:45,670 What's, what am I doing wrong here? All right. And, you know, 146 00:07:45,750 --> 00:07:49,990 I made the one mistake that every mentor makes, 147 00:07:50,690 --> 00:07:51,670 and I, you know, I, 148 00:07:51,670 --> 00:07:54,430 and most of these things that I'm gonna be talking about today, uh, 149 00:07:54,490 --> 00:07:57,910 I'm guilty of. And the reason why I can speak on them is because I've done them. 150 00:07:57,930 --> 00:07:59,270 And I've corrected that behavior, 151 00:07:59,380 --> 00:08:02,870 that perspective in order to help everyone else in a different manner. 152 00:08:03,410 --> 00:08:05,830 And I took a look at what mentors were doing, 153 00:08:06,410 --> 00:08:09,510 and what I realized is almost every mentor was saying, 154 00:08:10,470 --> 00:08:14,390 I can teach you how to trade, but I can't, uh, 155 00:08:14,670 --> 00:08:17,510 I can't give you good results. You have to do it yourself. Mm-hmm. Right? 156 00:08:17,530 --> 00:08:21,870 And so what was happening is that these mentors were sitting there saying, Hey, 157 00:08:21,870 --> 00:08:24,510 I'm gonna teach you how, but if, if you mess up, if you screw up, 158 00:08:24,820 --> 00:08:27,750 it's not my fault. But then, you know, 159 00:08:27,750 --> 00:08:31,110 a couple minutes later they get a text from another student who just made a 160 00:08:31,270 --> 00:08:34,910 thousand dollars in a day, and they're posting it on their social media saying, 161 00:08:35,290 --> 00:08:38,750 I'm responsible for that win . And that, that didn't sit right with me. 162 00:08:39,130 --> 00:08:41,750 I'm like, these guys are, these guys are paying, you know, 163 00:08:41,750 --> 00:08:44,630 these ninjas are getting pardon of my friend shit. 164 00:08:44,630 --> 00:08:48,030 Tons of money from the people watching this podcast, from everybody out there. 165 00:08:48,570 --> 00:08:51,230 And they're not gonna be beside you if you lose, you know, that is, 166 00:08:51,620 --> 00:08:55,840 that doesn't, that's not right. You know, if, if a kid grows up to be a dick, 167 00:08:56,170 --> 00:08:58,480 who's, whose fault is it? It's the parents, right? Mm-hmm. , 168 00:08:58,940 --> 00:09:01,480 if a team has a losing season, who gets fired? The coach? 169 00:09:01,740 --> 00:09:03,840 Why should us as mentors be any different? 170 00:09:04,180 --> 00:09:08,040 And so I took in much more accountable approach saying, you know, 171 00:09:08,100 --> 00:09:10,520 I'm responsible for every single result, win or lose. 172 00:09:10,660 --> 00:09:13,080 Now does that mean I'm gonna give, uh, my, my, 173 00:09:13,300 --> 00:09:16,920 the traders who lose their accounts, their money back know, obviously. 174 00:09:17,540 --> 00:09:22,120 But what I will be able to do is take the lessons that I learned from the people 175 00:09:22,120 --> 00:09:26,360 who don't succeed to make that program and that mentorship that much stronger 176 00:09:26,360 --> 00:09:30,960 and more powerful for the next person. And now the second biggest, uh, 177 00:09:32,670 --> 00:09:36,890 uh, piece of clarity that I got was I realized that, you know, every, 178 00:09:37,230 --> 00:09:38,170 if you get into trading, 179 00:09:38,390 --> 00:09:42,090 what's the one number that everyone says in terms of percentage of traders who 180 00:09:42,090 --> 00:09:43,850 fail? It's always 95%, right? 181 00:09:43,870 --> 00:09:46,850 And I actually think you recently had an individual on here who, 182 00:09:46,950 --> 00:09:50,130 who you made a quote about that 95% of traders fail, 183 00:09:50,470 --> 00:09:54,890 and we accept that as a truth, as as that's just the norm. 184 00:09:55,310 --> 00:09:57,530 And I took a look at that and I'm like, well, why are we accepting that? 185 00:09:57,790 --> 00:10:00,010 Wh why can't we do something different and change that? 186 00:10:00,710 --> 00:10:04,970 And so I pieced together a what I think is a very fair assumption, and it's, 187 00:10:05,550 --> 00:10:08,050 if you look at most courses, you look at most mentorships, 188 00:10:08,520 --> 00:10:11,970 they pretty much more or less all offer the same thing, right? 189 00:10:11,970 --> 00:10:15,730 You got your community chats, you got your PDFs, you got your videos, et cetera, 190 00:10:15,750 --> 00:10:19,130 et cetera. Um, you, 191 00:10:19,380 --> 00:10:24,330 there is no real difference between how these people are being taught and people 192 00:10:24,470 --> 00:10:25,303 are still losing. 193 00:10:25,910 --> 00:10:30,610 So maybe just maybe a connection between how 194 00:10:30,610 --> 00:10:35,250 traders are learning from their mentors and how many traders are actually 195 00:10:35,250 --> 00:10:37,290 failing. And so from that is, 196 00:10:37,400 --> 00:10:39,650 that was basically the ground floor of what I'm doing now. 197 00:10:40,940 --> 00:10:43,040 That's very interesting. That's like, I, 198 00:10:43,390 --> 00:10:45,800 I've gotta say no out of all the interviews and we're up to, we're, 199 00:10:45,800 --> 00:10:46,960 we're over 200 here, 200 00:10:47,880 --> 00:10:51,440 nobody's ever sort of talked about this particular aspect, 201 00:10:51,440 --> 00:10:55,760 which is the trader that goes into a course and losers and you never hear about 202 00:10:55,760 --> 00:10:59,720 them again. Right? So, and your, I, I'm interested, intrigued to, 203 00:10:59,720 --> 00:11:03,280 to find out a, what your stoic course was, 204 00:11:03,470 --> 00:11:07,600 sort of how you formatted that, number one mm-hmm. , and then two, 205 00:11:07,700 --> 00:11:08,533 how you, 206 00:11:08,620 --> 00:11:12,560 how you sort of glean this information from the losing traders that had come 207 00:11:12,560 --> 00:11:15,280 through and gone through either the stoic course or some other course that you 208 00:11:15,280 --> 00:11:16,113 created. 209 00:11:16,680 --> 00:11:21,130 Yeah. So we'll start with the stoicism. Um, if anybody's familiar with that, 210 00:11:21,630 --> 00:11:25,930 it is the grandfather or because it's 2000 years old, the grand, 211 00:11:25,930 --> 00:11:30,690 grand grand grandfather to modern day behavioral cognitive psychology or 212 00:11:30,690 --> 00:11:32,410 cognitive behavioral psychology, C B T, 213 00:11:32,700 --> 00:11:37,530 which is by and large known as the most effective form of therapy. 214 00:11:38,630 --> 00:11:43,320 And the central thesis is control what you can 215 00:11:44,570 --> 00:11:47,110 let go of what you can't. Alright? You know, 216 00:11:47,330 --> 00:11:51,230 the only thing we have control of are our actions. No, 217 00:11:51,230 --> 00:11:54,620 we don't even have control over our thoughts or our feelings cuz a lot of things 218 00:11:54,620 --> 00:11:57,000 that we think and feel are instinctual, they're reactive. 219 00:11:57,380 --> 00:12:01,600 But what we do control is how we, how we respond to it. You know, 220 00:12:01,820 --> 00:12:05,600 do we press buy or sell? Cuz we have fomo, that is our fault, right? 221 00:12:05,600 --> 00:12:06,760 That is what we have control over, 222 00:12:06,980 --> 00:12:09,760 but we don't have control over anything else on this planet. 223 00:12:10,280 --> 00:12:15,040 Anything else in this universe. And so separating that, that, 224 00:12:15,380 --> 00:12:18,760 uh, the difference between what we can control and what we can't, 225 00:12:19,220 --> 00:12:23,800 we can now hit the markets with a, a, a much more grounded, 226 00:12:24,100 --> 00:12:26,590 and I don't even know the word for it. 227 00:12:26,590 --> 00:12:30,990 We'll stick with ground much more grounded approach so that we know that we are 228 00:12:30,990 --> 00:12:34,510 going to feel certain things. We can't help what we feel. Right? You know, 229 00:12:34,510 --> 00:12:36,310 people say trade like a robot. They, 230 00:12:36,410 --> 00:12:39,430 and they think that means trade emotionless. Well, that's actually not what it, 231 00:12:39,430 --> 00:12:44,030 what it means, it means trade your make decisions like a robot would. 232 00:12:44,040 --> 00:12:44,990 We're humans, okay? 233 00:12:45,010 --> 00:12:49,790 We are pieces of meat fueled by electricity and we're gonna be irrational. 234 00:12:49,800 --> 00:12:51,550 We're going to feel things, all right? 235 00:12:51,610 --> 00:12:56,150 So what stoicism really does is it helps you compartmentalize those emotions and 236 00:12:56,150 --> 00:12:58,750 still do the right thing anyways. All right? 237 00:12:59,050 --> 00:13:03,390 And so bringing that into a course was very effective, 238 00:13:03,880 --> 00:13:07,350 right? You know, we created some supercharged minds, some supercharged souls, 239 00:13:07,550 --> 00:13:08,383 everything like that. 240 00:13:08,610 --> 00:13:11,670 But I was still making the same mistakes that mentors were making because I 241 00:13:11,670 --> 00:13:13,550 wasn't providing, um, 242 00:13:13,710 --> 00:13:17,510 a way to fill the gap from being a trader to, or sorry, 243 00:13:17,580 --> 00:13:21,750 from learning how to trade to being a trader. So if we think about it, 244 00:13:21,850 --> 00:13:25,710 all right? We, we, we ask what are the most necessary skills in trading, okay? 245 00:13:26,450 --> 00:13:29,350 And people say, okay, you need discipline. Well, you need patience, 246 00:13:29,410 --> 00:13:30,350 you need consistency. 247 00:13:30,610 --> 00:13:33,790 You need all these buzzwords that you hear all over social media that people, 248 00:13:34,370 --> 00:13:38,950 you know, hashtag facts, hashtag truth to all the time. But the problem is, 249 00:13:39,010 --> 00:13:42,190 and this is, this is kind of how I close the gap with the, uh, 250 00:13:42,190 --> 00:13:44,790 from what I've seen from my losing students, um, 251 00:13:45,650 --> 00:13:50,590 is that discipline, patience, consistency, uh, trusting your process. 252 00:13:50,890 --> 00:13:52,910 All these things that feel good when you hear them, 253 00:13:52,910 --> 00:13:56,470 but don't actually make you good. They are outcomes, okay? 254 00:13:56,660 --> 00:14:00,830 They are not things you do, they are things you are or become. 255 00:14:01,490 --> 00:14:05,550 All right? So in order to be disciplined, what are the action, 256 00:14:05,740 --> 00:14:09,830 actions and habits that create that? Right? If you take one trait, 257 00:14:09,930 --> 00:14:14,150 one good trait, according to your rule or your rules, are you disciplined? No. 258 00:14:14,560 --> 00:14:17,670 Right? You take a hundred good traits, 259 00:14:18,180 --> 00:14:20,430 then we can start talking about how you are disciplined. 260 00:14:22,770 --> 00:14:25,390 All right, folks, I'm here at Blackpool Markets headquarters in Auckland, 261 00:14:25,390 --> 00:14:27,990 New Zealand. You can see this amazing view behind me of Auckland Harbor. 262 00:14:28,090 --> 00:14:31,270 Now talking about views, if you do want to get free trading view Pro, 263 00:14:31,340 --> 00:14:34,710 then all you need to do is trade one lot a month at Blackpool markets and 264 00:14:34,710 --> 00:14:37,670 they're gonna give you a free trading view pro. So folks, to find out more, 265 00:14:37,670 --> 00:14:40,150 click the link in the description below or the cat bell. 266 00:14:43,090 --> 00:14:47,550 So what are the actions and habits that will allow you to take those a hundred 267 00:14:47,550 --> 00:14:51,110 good trades? So what we're doing is we're taking a much more process, 268 00:14:51,380 --> 00:14:54,520 process-oriented approach versus an outcome approach. Mm-hmm. 269 00:14:54,700 --> 00:14:57,200 And one of the things I realized, cause I like every other trader, 270 00:14:57,200 --> 00:15:01,880 like every other mentor I've taken probably 20 courses I've taken, you know, 271 00:15:01,880 --> 00:15:05,760 pirated ones online, I've, I've paid for them, I've learned from mentors, 272 00:15:05,910 --> 00:15:09,840 I've had one-on-ones. And I realize at the end of the day they're saying, 273 00:15:09,840 --> 00:15:12,080 you know, psychology is, is everything you need to learn, 274 00:15:12,460 --> 00:15:16,440 but trading is all about mindset. But that's where it stops. Well, 275 00:15:16,440 --> 00:15:18,840 if it's all about mindset and psychology, then why are you focusing, 276 00:15:18,840 --> 00:15:21,640 focusing so much on the thing that doesn't matter as much, 277 00:15:21,640 --> 00:15:25,360 which is the strategy? So we have to flip it on its head. And when we do that, 278 00:15:25,360 --> 00:15:30,120 we start to see that these things that we think we need are 279 00:15:30,120 --> 00:15:34,360 really just the end result of what we should actually be doing. And so, 280 00:15:34,390 --> 00:15:37,360 from those losers and from the winners, because I, I would, 281 00:15:37,480 --> 00:15:38,960 I would compare the winners and the losers. 282 00:15:40,320 --> 00:15:43,930 I've seen that the winners have closed that gap, whether they meant to or not. 283 00:15:44,070 --> 00:15:46,090 And now I wanna talk about, you know, the mens for a sec. 284 00:15:46,930 --> 00:15:48,970 I don't think they're intentionally making this mistake. 285 00:15:49,210 --> 00:15:50,690 I just think they aren't aware of it. 286 00:15:50,710 --> 00:15:54,210 And the people who have found success in trading have just come by it naturally, 287 00:15:54,310 --> 00:15:58,890 but haven't been able to put it into words or onto paper onto the computer for 288 00:15:59,090 --> 00:16:02,290 somebody else to learn. Alright? So I, from that, 289 00:16:02,370 --> 00:16:04,890 I have a series of processes, all right? 290 00:16:04,930 --> 00:16:09,450 I have something called the show method, skill, habit outcome. Alright? 291 00:16:10,030 --> 00:16:12,250 Now, when you get your traditional course, alright, 292 00:16:12,250 --> 00:16:13,570 you get your traditional mentorship, 293 00:16:13,910 --> 00:16:16,970 you learn the skill and the skill is the strategy, alright? 294 00:16:17,670 --> 00:16:21,370 And then what happens is you learn the strategy and then they're saying, okay, 295 00:16:21,870 --> 00:16:22,703 go trade. 296 00:16:23,070 --> 00:16:27,530 The most commonly asked question I got in my first rendition of my course was, 297 00:16:27,990 --> 00:16:30,930 what's next? Alright? Like, 298 00:16:31,300 --> 00:16:34,130 there is no plan to go what's next with most courses. 299 00:16:34,710 --> 00:16:39,530 And so I created one because I felt that from what I've seen around 300 00:16:39,830 --> 00:16:42,450 the trading sphere from the people that I've helped, 301 00:16:42,870 --> 00:16:46,770 is everyone is skilled enough. You got everyone watching this podcast, 302 00:16:47,030 --> 00:16:47,863 I'm telling you right now, 303 00:16:48,110 --> 00:16:50,610 you don't need to know any more than you already know. 304 00:16:51,060 --> 00:16:55,530 Skill and education and knowledge is not lacking in this industry. 305 00:16:56,000 --> 00:17:00,090 What is lacking is that gap to create or the, 306 00:17:00,910 --> 00:17:03,290 the way to fill in that gap between the skill, 307 00:17:03,290 --> 00:17:07,130 which is the strategy and the outcome, which is discipline patients, 308 00:17:07,130 --> 00:17:10,370 successful trading, which are all one and the same. You know, 309 00:17:10,370 --> 00:17:13,810 be you become disciplined at the same time you become a successful trader. 310 00:17:14,550 --> 00:17:17,290 All right? So you, they, they aren't, they aren't interdependent. 311 00:17:17,290 --> 00:17:22,050 They are the same thing. And so when you, when you forget about the outcome, 312 00:17:22,420 --> 00:17:25,170 right? And the outcome ends up being live trading, right? 313 00:17:25,170 --> 00:17:27,010 It doesn't matter if you want to be a millionaire, 314 00:17:27,190 --> 00:17:30,330 it doesn't matter if you want to just pay for your groceries, you know, the out, 315 00:17:30,350 --> 00:17:32,450 you have to, you have to be able to trade live for that. 316 00:17:32,630 --> 00:17:36,170 And so the outcome we've kind of bundled into just saying it's live trading. 317 00:17:36,560 --> 00:17:40,290 Well, in order to go take the skill to get the outcome, 318 00:17:40,680 --> 00:17:45,170 what we have to do is find out which actions and habits are 319 00:17:45,170 --> 00:17:49,710 required to repeat over and over again to achieve that outcome. Now, 320 00:17:49,710 --> 00:17:53,830 the beautiful thing about this is it is not a method, it's not a strategy, 321 00:17:53,850 --> 00:17:55,550 it is a model. Alright? 322 00:17:55,610 --> 00:18:00,150 And so what I mean by model is it becomes a framework where you can 323 00:18:00,900 --> 00:18:05,230 pick and choose the things you wanna focus on and fit them in there. So on, 324 00:18:05,230 --> 00:18:08,590 in the skill part, with the strategy, any strategy can fit there, 325 00:18:08,650 --> 00:18:11,270 it doesn't matter. All right? In the habits, well, 326 00:18:11,610 --> 00:18:15,790 all strategies need the same habits in the outcome. Well, all strategies, 327 00:18:15,850 --> 00:18:20,750 we want to end up at the same outcome. So what you've created is, now you, 328 00:18:20,750 --> 00:18:25,710 you you've taken this idea of trading out of its box and you've made 329 00:18:26,350 --> 00:18:28,670 strategy. The strategy is no longer the focus, 330 00:18:29,410 --> 00:18:33,270 it is simply a subset from an even bigger picture. Mm-hmm. . 331 00:18:34,140 --> 00:18:35,270 It's interesting, I I, 332 00:18:35,660 --> 00:18:39,350 I've sort of had this in the back of my mind for a long time. 333 00:18:40,220 --> 00:18:44,590 That habit is a major part of trading, right? 334 00:18:45,370 --> 00:18:48,830 Mm-hmm. and finding that habit, let's call it a routine habit, 335 00:18:49,110 --> 00:18:52,990 whatever you wanna call it, it's that sort of regular thing that you do, 336 00:18:54,080 --> 00:18:56,150 which essentially instills the discipline, right? 337 00:18:56,150 --> 00:18:57,310 Because if you've got that habit, 338 00:18:57,580 --> 00:19:01,510 then all of a sudden it's easier to be disciplined because you're just going 339 00:19:01,510 --> 00:19:04,870 through the same process and all the routine every single time. 340 00:19:05,720 --> 00:19:06,520 Which yep. 341 00:19:06,520 --> 00:19:10,150 Makes it harder to break. Cuz if it's random, if you haven't got a habit, it's, 342 00:19:10,260 --> 00:19:13,070 it's gonna be random, right? And if you're random, then you're basically, 343 00:19:13,610 --> 00:19:16,750 you're just doing whatever. There's no discipline that c comes with randomness. 344 00:19:17,010 --> 00:19:20,070 So it's mm-hmm. . So do you want to, how did you, um, how did you, 345 00:19:20,070 --> 00:19:23,790 because you are probably the one of the first people to actually talk about the 346 00:19:23,790 --> 00:19:28,710 habit, um, as being a thing. I mean, how did you sort of come up with like, 347 00:19:28,710 --> 00:19:30,310 what was your aha moment around like, 348 00:19:30,310 --> 00:19:32,870 this is where people are falling down the habit, they've got a. 349 00:19:32,870 --> 00:19:37,750 Habit, . Well, uh, it was really just human nature in general. Um, 350 00:19:37,750 --> 00:19:42,150 when you take a look at how we behave and the things we believe, 351 00:19:42,730 --> 00:19:44,630 uh, let's start out, let's be a little bit, let's, 352 00:19:44,640 --> 00:19:47,790 let's be a little bit pragmatic with our train of thoughts. Okay? 353 00:19:47,890 --> 00:19:51,110 So let's start the outcome. Let's reverse engineer this, alright? 354 00:19:51,650 --> 00:19:54,390 To get an outcome. So to get the thing we want, okay? 355 00:19:54,770 --> 00:19:59,670 We have to become the person that gets that thing, all right? 356 00:20:00,170 --> 00:20:04,390 And now people say, you know, actions, not words. Well, I say patterns, 357 00:20:04,390 --> 00:20:09,230 not actions. So actions and patterns are what make you who you are. Alright? 358 00:20:09,410 --> 00:20:13,470 You can say that you're, you know, you're a marathon runner as much as you want, 359 00:20:13,470 --> 00:20:17,430 but if you don't run marathons, you are not a marathon runner, right? 360 00:20:18,330 --> 00:20:22,990 So in order to do those things that make you that person, 361 00:20:23,090 --> 00:20:23,990 to get that goal, 362 00:20:24,650 --> 00:20:29,350 you have to make the decisions that lead to those actions. All right? 363 00:20:29,850 --> 00:20:33,630 Now, when we talk about decisions, well, what drives the things that we decide, 364 00:20:34,050 --> 00:20:36,710 all right? It's our beliefs and values which we hold to get, 365 00:20:36,760 --> 00:20:40,030 which we hold to be true. And now this is where it gets a little bit tricky, 366 00:20:40,500 --> 00:20:44,910 because this is where almost I would say actually every single trading, uh, 367 00:20:44,960 --> 00:20:49,720 issue stems from is the beliefs and values we hold to be true. For example, 368 00:20:50,700 --> 00:20:54,920 if we believe that more trades equals more money, 369 00:20:55,010 --> 00:20:57,200 which we all know that less is more in the industry, 370 00:20:57,660 --> 00:21:00,360 and we refuse to budge from that, we will never, 371 00:21:00,390 --> 00:21:04,920 ever be able to make the decisions that lead to the actions or patterns that 372 00:21:04,920 --> 00:21:06,640 lead to the person we are to get the outcome. 373 00:21:07,060 --> 00:21:11,890 So how do we shift the beliefs and values that we hold to be 374 00:21:11,890 --> 00:21:16,860 true perspective? At the end of the day, it's perspectives. 375 00:21:16,860 --> 00:21:20,260 Now we always say psychology is the most important part of trading. Well, 376 00:21:20,400 --> 00:21:24,460 that's, that's only half true because you don't do psychology. 377 00:21:25,200 --> 00:21:28,820 How do you work on psychology? Psychology is just an overarching concept over, 378 00:21:28,880 --> 00:21:32,380 you know, habits, outcomes, behavioral, you know, all that stuff, right? 379 00:21:33,000 --> 00:21:37,660 And so when we can specifically define these things that drive, uh, 380 00:21:37,720 --> 00:21:40,580 who we are, what we do, the way we think, we really, 381 00:21:40,580 --> 00:21:42,300 it all comes down to how do you see the world? 382 00:21:42,440 --> 00:21:44,820 How do you see the things in front of you? How do you see the charts? 383 00:21:44,820 --> 00:21:49,530 It's all perspective, right? And so that, 384 00:21:49,560 --> 00:21:52,370 that sounds all well and good, but unfortunately, like I said, 385 00:21:52,370 --> 00:21:57,250 humans are irrational animals. We are, you know, slaves to our emotions, 386 00:21:57,270 --> 00:21:58,103 if you will. 387 00:21:58,830 --> 00:22:03,010 But when we can quantify or put numbers 388 00:22:04,030 --> 00:22:07,090 to a behavior or to an action or to a habit, 389 00:22:07,510 --> 00:22:11,210 that's when everything changes, right? So when we want to, 390 00:22:11,310 --> 00:22:13,770 so when we want to talk about habits, right? 391 00:22:13,770 --> 00:22:18,130 You talk about the one trade versus being not being disciplined versus a hundred 392 00:22:18,130 --> 00:22:19,010 trades being disciplined. 393 00:22:19,190 --> 00:22:24,140 What's the thing that we can do to take those hundred trades according to 394 00:22:24,140 --> 00:22:28,560 our rules every single time back test and get your data. 395 00:22:28,910 --> 00:22:33,680 Data acquisition is the most important part of trading the 396 00:22:33,680 --> 00:22:35,480 active trading, right? Mm-hmm. . Now, 397 00:22:35,480 --> 00:22:38,640 the most important part of being a trader is something completely different, 398 00:22:38,640 --> 00:22:40,520 which we'll touch upon shortly, I hope. 399 00:22:40,820 --> 00:22:44,120 But right now it's your habits of trading properly, 400 00:22:44,120 --> 00:22:48,480 according to your rules are going to be driven by the data you acquire back 401 00:22:48,480 --> 00:22:51,800 testing. So let me go into that a little bit further. Alright? 402 00:22:51,900 --> 00:22:54,600 We do not collect data to prove that we're right. 403 00:22:54,600 --> 00:22:57,400 We don't collect data to show how much money we can make, right? 404 00:22:57,470 --> 00:23:00,400 Because it doesn't matter how much money your strategy makes, 405 00:23:00,460 --> 00:23:03,400 if you can't trade the strategy as it's supposed to be traded, 406 00:23:03,700 --> 00:23:06,320 you will never make the money that you're promised when you're back testing. 407 00:23:07,140 --> 00:23:09,520 So when we back test, it is solely for data. 408 00:23:09,660 --> 00:23:11,840 And what we have to do with that data matters. 409 00:23:12,060 --> 00:23:16,600 And the very first and foremost thing is we have to be able to compare 410 00:23:17,110 --> 00:23:21,280 past performance to current performance. So let's say you have two traders, 411 00:23:21,280 --> 00:23:25,240 okay? Trader one, trader two, trader one and trader two, exact same strategy, 412 00:23:25,240 --> 00:23:28,800 exact exact same mentor trader one has no data, no back testing. 413 00:23:28,820 --> 00:23:32,040 Trader two knows all the me all the, 414 00:23:32,060 --> 00:23:34,880 the metrics that go along with the strategy, right? So they, 415 00:23:34,880 --> 00:23:38,800 they know that they're supposed to win, let's say 60% of their trades, 416 00:23:39,020 --> 00:23:42,800 all right? They know they have an average RR of two to one when they win, right? 417 00:23:42,800 --> 00:23:46,800 Metrics like that. Trader one doesn't know this, this you hit a losing skid. 418 00:23:47,150 --> 00:23:50,880 Okay? So let's say you know that 60% win, uh, 419 00:23:50,900 --> 00:23:53,600 win rate turns into 20% win rate. Okay? 420 00:23:53,600 --> 00:23:56,360 So they lose two outta 10 versus six outta 10, alright? 421 00:23:57,140 --> 00:24:00,880 Who do you think is more likely to continue to trade the strategy? 422 00:24:01,380 --> 00:24:06,280 The guy who knows that historically they're supposed to win 60% or 423 00:24:06,280 --> 00:24:09,040 the person who doesn't, it's gonna be trader number two. Mm-hmm. 424 00:24:09,260 --> 00:24:12,920 And the reason why is because we treat it like we're counting cards in 425 00:24:12,920 --> 00:24:15,880 blackjack. And for those of you who don't know how to count cards, um, 426 00:24:16,150 --> 00:24:19,280 this is exactly what I mean by that. And those of you who do, uh, 427 00:24:19,280 --> 00:24:21,920 please forgive me, um, I might butcher it a little bit, 428 00:24:22,020 --> 00:24:26,600 but basically what a card counter in blackjack does it is they keep 429 00:24:26,880 --> 00:24:28,560 tally of what's in the deck, all right? 430 00:24:28,590 --> 00:24:31,560 They know when there's big cards in the deck to be played and they know when 431 00:24:31,560 --> 00:24:32,560 they've already been played. 432 00:24:32,820 --> 00:24:36,200 So they know if they're gonna hit a couple losers or they know that they have a 433 00:24:36,200 --> 00:24:39,000 higher probability of hitting those blackjacks and taking that big money. 434 00:24:39,000 --> 00:24:42,640 And that's when they know, um, how to manage their expectations. 435 00:24:43,570 --> 00:24:48,030 And so what we do is we do the exact same thing, alright? 436 00:24:48,530 --> 00:24:53,230 We realize, you know, we have a 60% win rate. Trader two has a 60% win rate. 437 00:24:53,740 --> 00:24:56,910 He's lost eight outta 10 trades. So he has a 20% win rate, 438 00:24:57,170 --> 00:25:01,510 but over a thousand trades should be 60. Does that mean that he's, 439 00:25:01,510 --> 00:25:04,270 his losing streak means his strategy isn't working? No, 440 00:25:04,270 --> 00:25:07,430 it actually means that he's more likely to hit a winning streak cuz that's how 441 00:25:07,430 --> 00:25:08,390 probabilities work. 442 00:25:08,770 --> 00:25:13,750 And so what we do is we weaponize these probabilities based on the 443 00:25:13,750 --> 00:25:18,150 data that we've acquired to mitigate our motions because now we can manage your 444 00:25:18,150 --> 00:25:20,910 expectations appropriately. And so by doing that, 445 00:25:20,910 --> 00:25:25,070 we've now taken a perspective of this is we, 446 00:25:25,370 --> 00:25:27,630 our perspective is we let the math do the talking, right? 447 00:25:27,630 --> 00:25:30,150 We don't take a trade based on how we feel based on what's going on. 448 00:25:30,150 --> 00:25:31,390 Cuz you're gonna feel all sorts of things. 449 00:25:31,730 --> 00:25:34,150 All you need to do is look at the hard numbers and say, okay, 450 00:25:34,210 --> 00:25:37,470 I'm supposed to win six outta 10 trades. I've only won two outta 10 trades. 451 00:25:37,610 --> 00:25:40,750 All right? The next 10 should actually be 10 outta 10. If not, 452 00:25:40,980 --> 00:25:43,110 I'll probably hit an 18 outta 20 over the next 20. 453 00:25:43,810 --> 00:25:46,670 And then you can start comparing. You can see if I'm underperforming, 454 00:25:46,790 --> 00:25:49,670 I should be overperforming pretty soon to bring it back to the baseline. 455 00:25:49,970 --> 00:25:53,430 And then the other way, right? If you've, if you've, uh, what'd I say? 456 00:25:53,490 --> 00:25:56,870 If you've, if you have a six outta 10 uh, win win rate, 457 00:25:57,170 --> 00:26:00,870 but you've won 10, outta 10, you can now expect the opposite. You're saying, 458 00:26:00,870 --> 00:26:04,310 well, I've won a lot more than I usually should. So when I lose, 459 00:26:05,030 --> 00:26:08,430 I know what's going to happen. This cannot keep up forever. But the thing is, 460 00:26:08,770 --> 00:26:11,510 here's the thing is we don't know when those winning streak start or end. 461 00:26:11,510 --> 00:26:14,750 We don't know when we're gonna lose. We don't know when that's gonna end. 462 00:26:15,170 --> 00:26:19,550 The key to trading in this sense is to always be able to take the next trade 463 00:26:19,550 --> 00:26:20,390 according to the rules. 464 00:26:20,770 --> 00:26:24,310 And so that is the first thing that data does for us to help create those 465 00:26:24,310 --> 00:26:24,670 habits. 466 00:26:24,670 --> 00:26:27,950 It helps us to always take the next trade because we always know where we're in, 467 00:26:28,410 --> 00:26:33,310 uh, in regard in terms of the count or the count of the markets, right? 468 00:26:33,310 --> 00:26:34,230 Like we're counting cards. 469 00:26:35,250 --> 00:26:40,110 And so that is one of the biggest perspective shifts that I had 470 00:26:40,110 --> 00:26:43,410 when I realized that we can quantify these things, alright? 471 00:26:43,790 --> 00:26:48,250 And now the second biggest thing about this is this allows us 472 00:26:48,870 --> 00:26:53,650 to take this trading live. And when we take it live, we can now see, oh, right, 473 00:26:53,830 --> 00:26:55,810 I'm supposed to be getting these numbers, alright, 474 00:26:56,350 --> 00:26:59,090 but now for some reason when I'm live, I'm not getting them, 475 00:27:00,120 --> 00:27:05,020 you now know where to look. So you've created a not one, like I said, 476 00:27:05,040 --> 00:27:05,800 not a strategy, 477 00:27:05,800 --> 00:27:10,300 but a model of being able to pick and choose and change things 478 00:27:10,720 --> 00:27:14,980 at will because you are aware of everything that goes on with your strategy, 479 00:27:14,980 --> 00:27:18,860 the strengths, weaknesses, and you are able to manage your expectations. 480 00:27:19,240 --> 00:27:21,900 And by manage your expectations, you mitigate your emotions. 481 00:27:22,160 --> 00:27:25,420 Cuz if you expect a losing streak because you've been winning too much, 482 00:27:26,040 --> 00:27:30,580 why would you be upset if you expected it? Right? Versus if you, if you get a, 483 00:27:30,600 --> 00:27:33,420 if you expect to have a winning streak cuz you've been losing so much, 484 00:27:34,400 --> 00:27:37,420 why are you gonna over trade and over-leverage because you're now on a winning 485 00:27:37,420 --> 00:27:40,860 streak. It just helps you trade the plan exactly how it's supposed to be. 486 00:27:40,860 --> 00:27:45,020 So when we talk about trusting the process, this is how you do it. 487 00:27:45,400 --> 00:27:46,120 You quantify, 488 00:27:46,120 --> 00:27:50,020 you add numbers because as soon as you get those hard numbers in there, 489 00:27:50,400 --> 00:27:52,620 the math does the talking not you. 490 00:27:52,840 --> 00:27:55,780 Mm-hmm. , it's a, it is very like, I mean, it, 491 00:27:55,780 --> 00:27:59,260 it rings a lot of bells here in terms of, uh, I mean, I was talking to a, 492 00:27:59,340 --> 00:28:03,620 a friend the other day who, who had done exactly that back tested something, 493 00:28:04,400 --> 00:28:04,620 uh, 494 00:28:04,620 --> 00:28:09,180 I think it was a hundred trades and it was like a really high win rate strategy, 495 00:28:09,180 --> 00:28:13,780 90%. And, uh, I mean, the risk to award wasn't always great, but, um, 496 00:28:13,780 --> 00:28:17,020 the win rate was high and then went live, 497 00:28:18,080 --> 00:28:20,780 it played out. And then, uh, 498 00:28:21,240 --> 00:28:24,940 but then he knew the times it didn't play out were when the emotional side 499 00:28:24,940 --> 00:28:29,780 kicked in and he started breaking the rules because his problem was, 500 00:28:30,200 --> 00:28:34,780 he got too used to the fact that 90% win rate, you're winning all the time, 501 00:28:34,780 --> 00:28:38,220 right? Mm-hmm. , when you get a loser, it's like, well, 502 00:28:38,220 --> 00:28:39,420 I don't wanna take a loser anymore. 503 00:28:39,560 --> 00:28:44,260 So all of a sudden your psychology kicks in and it's something he had to sort of 504 00:28:44,260 --> 00:28:46,740 try and get over to, um, to, 505 00:28:47,160 --> 00:28:49,100 but he knew that the numbers were there to back him up. 506 00:28:49,400 --> 00:28:51,260 So if he just went back to what he was doing, 507 00:28:51,810 --> 00:28:54,700 he's gonna start winning trades again. Uh, exactly. 508 00:28:54,760 --> 00:28:57,500 So, tired of missing trades or spending hours at the charts. 509 00:28:57,980 --> 00:29:00,140 Introducing my Robot builders club with our platform, 510 00:29:00,140 --> 00:29:03,780 you can build bots in minutes, not weeks without any coding required. 511 00:29:03,800 --> 00:29:05,380 Get lifetime access to my video course, 512 00:29:05,700 --> 00:29:10,140 v i p community and over 40 ready made robots weeks with MT four or MT five. 513 00:29:10,140 --> 00:29:10,700 And as a bonus, 514 00:29:10,700 --> 00:29:14,660 you'll get three months access to my robot lab where we build in test bots on 515 00:29:14,660 --> 00:29:18,420 live calls every week. Join the hundreds of traders who are trading smarter, 516 00:29:18,480 --> 00:29:20,700 not harder. Click the link in the description to learn more. 517 00:29:20,840 --> 00:29:23,140 Get the free training and download a free robot. 518 00:29:23,240 --> 00:29:26,580 How, how on earth do you structure a course that sort of, uh, 519 00:29:27,130 --> 00:29:30,300 encompasses all this so that people can follow the process? 520 00:29:30,360 --> 00:29:31,700 And how do you make sure that, 521 00:29:31,730 --> 00:29:35,220 that these guys who would normally be losing traders that exit your course, 522 00:29:35,220 --> 00:29:39,340 you never hear, hear of them again, turn them around into, into winning traders. 523 00:29:39,340 --> 00:29:41,920 I mean, what do you, how do you keep people on their, on that path? 524 00:29:43,010 --> 00:29:44,220 Well, once again, we, 525 00:29:44,220 --> 00:29:48,140 we gotta go back to how mentorships operate and how courses operate, right? 526 00:29:48,730 --> 00:29:52,060 It's the mentor ha or the teacher, whatever you wanna call them. 527 00:29:52,060 --> 00:29:54,980 They have a course and they want people to come over to the side of the fence to 528 00:29:54,980 --> 00:29:59,180 learn it. All right? I have not seen the mentor go the other way, 529 00:29:59,490 --> 00:30:02,740 trading or your strategy. Uh, first off, um, 530 00:30:02,740 --> 00:30:04,100 this is kind of the thing that I would, 531 00:30:04,140 --> 00:30:05,940 I talked about earlier that I hope we talk about shortly. 532 00:30:06,320 --> 00:30:09,060 And a lot of you are gonna be sitting back and probably fall off your chairs 533 00:30:09,060 --> 00:30:11,940 when I say this, but your strategy, the strategy you trade, 534 00:30:12,840 --> 00:30:17,090 is the least important thing out of all the things that matter, right? 535 00:30:17,990 --> 00:30:20,130 Scalpy, swinging, doesn't matter. 536 00:30:20,160 --> 00:30:24,410 What really matters is does that strategy fit in your 537 00:30:24,560 --> 00:30:27,930 lifestyle? All right? There's, there's nothing above and beyond that. 538 00:30:28,310 --> 00:30:33,290 You could literally have a, the best win rate with the best rr with, you know, 539 00:30:33,400 --> 00:30:35,410 objectively the best strategy on the planet. 540 00:30:35,590 --> 00:30:39,690 But if you live a life where you can't trade it according to the rules that that 541 00:30:39,950 --> 00:30:44,730 are required, you'll never take advantage of that. And this is, 542 00:30:44,800 --> 00:30:49,210 this is kind of where your question gets answered because 543 00:30:50,100 --> 00:30:53,240 we, we always say trading's not one size fits all yet, 544 00:30:53,510 --> 00:30:58,040 mentors trade or they teach one size fits all, right? 545 00:30:58,460 --> 00:31:02,600 And so what I did is I took that whole overarching model approach, and I said, 546 00:31:02,600 --> 00:31:06,600 you know what? I'm not going to teach the strategy centered around the strategy. 547 00:31:07,340 --> 00:31:11,720 I'm going to use my strategy as a measuring stick for someone to create their 548 00:31:11,720 --> 00:31:14,880 own personal and unique way of trading. Because we're all different. 549 00:31:14,940 --> 00:31:18,480 We have to accept that, all right? We all have different perspectives. You know, 550 00:31:18,480 --> 00:31:23,120 we have, we're just so unique in so many ways. So the strategy that I created, 551 00:31:24,150 --> 00:31:26,690 it came from my perspective of the world, 552 00:31:27,150 --> 00:31:30,730 the beliefs and values that I hope to be true based on the decisions that I've 553 00:31:30,730 --> 00:31:32,530 made, that led to the actions that I've made, 554 00:31:32,530 --> 00:31:36,330 that made me who I am today and made me get what I have. Alright? 555 00:31:37,000 --> 00:31:40,530 Then to have someone want to learn my strategy and say, okay, 556 00:31:40,530 --> 00:31:44,690 step in my shoes and do exactly the same thing. When you really think about it, 557 00:31:45,120 --> 00:31:47,370 it's kind of crazy to ask that. And honestly, 558 00:31:47,370 --> 00:31:51,890 I find it kind of arrogant to ask that as well. So instead of saying, 559 00:31:51,990 --> 00:31:56,850 here's my strategy, learn it and then get outta here, it's, here's my strategy. 560 00:31:57,070 --> 00:31:58,810 I'm going to teach you how the market works. 561 00:31:59,350 --> 00:32:03,250 And what you're going to do is use my strategy as the measuring stick to build 562 00:32:03,250 --> 00:32:04,083 your own. 563 00:32:04,230 --> 00:32:07,090 So I want to tell you a little bit of a story about what I mean by that. I, 564 00:32:07,110 --> 00:32:07,650 you know, I'm, 565 00:32:07,650 --> 00:32:10,570 I I think we talked about this last call is I used to bottle build. You know, 566 00:32:10,570 --> 00:32:12,690 I used to be a physique competitor. I was, uh, 567 00:32:12,710 --> 00:32:15,730 top 20 world ranked in W B F F at one time. So I know my, 568 00:32:15,770 --> 00:32:16,970 I know my stuff around that. All right? 569 00:32:17,070 --> 00:32:21,730 So when you do a body building show or a physique show or something like that, 570 00:32:21,790 --> 00:32:25,770 it is the hardest thing to do, not because it's a first time dieting. It's, 571 00:32:25,990 --> 00:32:28,090 you know, your first time standing up on stage in front of people. 572 00:32:28,120 --> 00:32:31,890 It's because you do not have anything to compare 573 00:32:32,840 --> 00:32:35,810 what you're supposed to look like to, alright? However, 574 00:32:36,080 --> 00:32:38,250 that second show that you do, third show that you do, 575 00:32:38,390 --> 00:32:40,440 you now have these measuring sticks. 576 00:32:40,540 --> 00:32:43,840 You can take a look at your first show when you're three weeks out and say, wow, 577 00:32:44,200 --> 00:32:48,240 I was way leaner, then I'm three weeks out now I'm not lean enough. 578 00:32:48,340 --> 00:32:52,440 So now I know that I have to make changes moving forward to do that, right? 579 00:32:52,660 --> 00:32:55,320 Or say, oh, my last off season I didn't have big enough shoulders, 580 00:32:55,320 --> 00:32:59,040 so now I can focus on prioritizing shoulders for my next show. 581 00:32:59,300 --> 00:33:01,200 And so when you have that measuring stick, 582 00:33:01,700 --> 00:33:06,250 you now have something to really build off of a foundational 583 00:33:06,650 --> 00:33:10,370 approach. And that is what I did. So rather than, you know, and that, and that, 584 00:33:10,370 --> 00:33:11,490 that goes to, you know, 585 00:33:11,490 --> 00:33:14,690 goes part and parcel with the whole mentor accountability thing. It's, 586 00:33:15,290 --> 00:33:19,410 I I should not be asking you to meet me where I am, right? 587 00:33:19,650 --> 00:33:21,570 I should be meeting you where you are, 588 00:33:21,570 --> 00:33:25,050 which is why I actually went from group calls, you know, 589 00:33:25,050 --> 00:33:27,730 have as many people as possible in the course to just doing one-on-ones. 590 00:33:27,750 --> 00:33:28,050 You know, 591 00:33:28,050 --> 00:33:32,810 I only care a load of 10 to 15 people for clients because I cannot best 592 00:33:32,810 --> 00:33:36,850 serve the people that that sign up with me unless I am talking to them. 593 00:33:37,310 --> 00:33:38,090 I'm meeting with them, 594 00:33:38,090 --> 00:33:42,770 I am learning about their beliefs and values and finding out what they like or 595 00:33:42,770 --> 00:33:47,130 what they're good at in the markets. All right? So I had a student last week, 596 00:33:47,310 --> 00:33:48,770 um, I had a really good talk with him. 597 00:33:48,890 --> 00:33:51,250 I was trying to teach him my way of seeing lower highs and higher lows, 598 00:33:51,250 --> 00:33:51,990 et cetera, et cetera. 599 00:33:51,990 --> 00:33:56,770 He sent me his homework and I noticed he was marking his highs and 600 00:33:56,770 --> 00:33:59,450 lows the exact same every single way. So I said, you know what, 601 00:33:59,990 --> 00:34:04,650 why would I try and change his na natural inclination on how the markets 602 00:34:04,760 --> 00:34:06,570 work? If he can do that every time, 603 00:34:06,570 --> 00:34:10,730 because a very important part of trading is can you repeat the same thing time 604 00:34:10,730 --> 00:34:11,190 after time? 605 00:34:11,190 --> 00:34:15,050 And can you define it and specify it so that it's very easy to spot out? 606 00:34:15,390 --> 00:34:19,130 And so what we've done since then is we've changed the way we see highs and lows 607 00:34:19,150 --> 00:34:21,450 to how he naturally leans towards to, 608 00:34:21,870 --> 00:34:25,810 and he has just gone from here to here in a matter of five or six days, 609 00:34:25,810 --> 00:34:29,690 everything quit for him. All right? And so I personally, 610 00:34:29,690 --> 00:34:32,170 obviously this is my personal belief, is that, you know, 611 00:34:32,170 --> 00:34:34,690 your mentor needs to be doing everything in, in his power, 612 00:34:34,830 --> 00:34:37,770 her power to make sure you succeed, all right? You know, 613 00:34:37,770 --> 00:34:40,690 there's gonna be the odd one that, excuse me, 614 00:34:40,790 --> 00:34:44,090 the odd student that just absolutely crushes it, obviously. 615 00:34:45,120 --> 00:34:49,180 But every student that ends up crushing it always creates their own way of 616 00:34:49,180 --> 00:34:51,460 trading. So my students, 617 00:34:51,560 --> 00:34:54,580 my top students that I've had over the last two and a half years, 618 00:34:55,010 --> 00:34:58,620 they've all made their own strategy outta the things that I taught them. 619 00:34:58,620 --> 00:35:01,420 Because I have such a simple and, uh, 620 00:35:02,130 --> 00:35:05,380 uncomplicated approach to the markets, I figured, you know, what, 621 00:35:05,380 --> 00:35:09,460 if they're going to do that anyways, why don't I just help them? 622 00:35:10,160 --> 00:35:13,660 So I teach them my strategy as a measuring stick. They can see my statistics, 623 00:35:14,120 --> 00:35:17,820 my metrics, and so when they go and back test it, they see if they can match it, 624 00:35:18,080 --> 00:35:21,580 and then they plug and play their own little way of doing things. And then, 625 00:35:21,730 --> 00:35:25,180 then by then they know how to, how to test it, and they can see, well, 626 00:35:25,280 --> 00:35:28,980 is it better or is it worse? If it's similar or better, then yes, 627 00:35:29,040 --> 00:35:31,500 by all means go forward with that way of doing things. 628 00:35:32,040 --> 00:35:34,100 And I I personally believe that, 629 00:35:34,100 --> 00:35:39,040 that we can trim down that 95% failure rate quite a bit if we take that kind of 630 00:35:39,200 --> 00:35:40,033 approach to it. 631 00:35:40,700 --> 00:35:42,120 Now. Now, what do you do to like, 632 00:35:42,120 --> 00:35:46,480 sort of make sure that these guys are tracking along, along the way? I mean, 633 00:35:46,540 --> 00:35:50,160 are they, are there any things that you've sort of come across where you know, 634 00:35:50,250 --> 00:35:54,480 quite common that even guys you're doing one-on-ones with, they, they sort of, 635 00:35:54,700 --> 00:35:58,960 you know, trip up at this point? And what are those sort of hurdle points that, 636 00:35:59,380 --> 00:36:01,760 and I'm guessing a lot of people listening are probably, you know, 637 00:36:01,860 --> 00:36:04,480 at that hurdle point or, or have stumbled across it themselves. 638 00:36:05,030 --> 00:36:07,720 What are they for your, uh, the guys that are common? 639 00:36:08,670 --> 00:36:10,770 So that's actually a really good question. 640 00:36:10,910 --> 00:36:14,130 So when I deal with trolls on Instagram, I'm gonna answer it in the same way. 641 00:36:14,510 --> 00:36:18,970 My one response is, you are not my target audience. And so how I figure that, 642 00:36:18,970 --> 00:36:22,290 how I do that is I only help people in my target audience, 643 00:36:22,290 --> 00:36:24,810 and there's a specific type of trader that will benefit from this. 644 00:36:25,270 --> 00:36:27,850 So if you are a new trader, you're still figuring it out. 645 00:36:28,030 --> 00:36:30,530 You haven't been kicked sideways, lost your accounts, 646 00:36:30,870 --> 00:36:34,690 you ha you haven't learned the lessons you need to learn that we all 647 00:36:35,380 --> 00:36:38,890 inevitably learn, right? In order for the, 648 00:36:38,990 --> 00:36:43,090 the things that allow us to go above and beyond where we are right now. 649 00:36:43,750 --> 00:36:46,010 You know, those won't hit the same way. In fact, 650 00:36:46,010 --> 00:36:50,890 they might not even be on your radar to begin with until you go through these 651 00:36:50,890 --> 00:36:53,810 growing pains that all new traders have to go through. 652 00:36:54,310 --> 00:36:57,090 And so when I started out my one-on-ones, uh, 653 00:36:57,330 --> 00:37:01,400 a lot of it was simply figuring out who, 654 00:37:01,780 --> 00:37:05,550 who is the type of person that I can help, all right? 655 00:37:05,810 --> 00:37:08,750 And so as I went through, I realized that new traders, they just, 656 00:37:09,200 --> 00:37:13,030 those are the ones that kind after the third or fourth session kind of 657 00:37:13,030 --> 00:37:15,150 disappeared, right? And I said, well, 658 00:37:15,150 --> 00:37:18,510 I'm not doing anyone in service if I'm taking my time helping people who, 659 00:37:19,330 --> 00:37:22,190 who just, they don't hear the lesson. So there's a, there's a, 660 00:37:22,190 --> 00:37:25,070 there's a stoic saying, okay, it's called when the student is ready, 661 00:37:25,330 --> 00:37:28,190 the teacher will appear. Hmm, all right. And so 662 00:37:30,200 --> 00:37:32,580 how we avoid that, you know, 663 00:37:32,580 --> 00:37:37,220 that problem that you just mentioned is we make sure the person joining 664 00:37:37,520 --> 00:37:42,300 the program has experienced the things they need to experience so that this, 665 00:37:42,300 --> 00:37:45,060 these lessons and these perspective shifts, um, 666 00:37:45,130 --> 00:37:46,780 will land the way that they're supposed to. 667 00:37:49,380 --> 00:37:52,690 Roddy ho Now on that, on that sort of note, like, I mean, 668 00:37:52,690 --> 00:37:55,850 it sounds like obviously people are in different phases and different stages of 669 00:37:55,850 --> 00:38:00,050 their absolutely. Journey. I mean, how, how, um, 670 00:38:00,270 --> 00:38:01,930 if you had to sort of break it up, like, 671 00:38:02,150 --> 00:38:06,330 cuz I think people listening would be quite intrigued to find out where they are 672 00:38:07,110 --> 00:38:10,490 in, in this, in this journey. I mean, what would you sort of like say, 673 00:38:10,490 --> 00:38:13,530 here are the stages of, of a trader? I mean, 674 00:38:13,530 --> 00:38:17,130 maybe not like the whole sort of break even profitable, not profit, you know, 675 00:38:17,130 --> 00:38:17,550 that, 676 00:38:17,550 --> 00:38:21,770 but more from like a psychological or actionable thing that they're actually 677 00:38:21,820 --> 00:38:25,450 doing a do you have sort of like a, I don't know, 678 00:38:25,450 --> 00:38:28,570 it might just be off the top of your head or it might be something you've sort 679 00:38:28,570 --> 00:38:32,410 of, you know, written down, but like, uh, you, if you are doing this, 680 00:38:32,750 --> 00:38:36,760 you are at this stage in the process and you've got 75% to go kind. 681 00:38:36,760 --> 00:38:41,000 Of thing. Yeah, well, you know, I do, like, before I meet up with anyone, 682 00:38:41,080 --> 00:38:43,000 I always have a discovery call. I see where they're at. 683 00:38:43,040 --> 00:38:44,720 I have a cer a specific set of questions, 684 00:38:45,420 --> 00:38:49,880 and from that I can kind of see what kind of pers perspective they have on the 685 00:38:49,880 --> 00:38:52,120 markets. Whether they're a, um, 686 00:38:52,630 --> 00:38:56,240 it's my fault I'm losing or it's the market's fault I'm losing. 687 00:38:56,700 --> 00:38:59,840 But generally what I see when I, when I talk to, you know, 688 00:38:59,860 --> 00:39:02,240 the people who fit in this, in this type of, uh, 689 00:39:02,240 --> 00:39:06,160 mindset and who are able to be coachable is 690 00:39:07,520 --> 00:39:09,650 when they get on, I, I get them to teach me what they know. 691 00:39:09,850 --> 00:39:12,690 I get them to sit there and I'm like, okay, show me the strategy you're trading. 692 00:39:13,070 --> 00:39:14,630 And honestly, 693 00:39:15,310 --> 00:39:20,190 I have been taught by these students the most incredible 694 00:39:20,540 --> 00:39:24,670 ways of trading in the amount of times I have said that is a 695 00:39:26,270 --> 00:39:30,350 effing great idea. Or something like that, right? Yeah. And 696 00:39:31,880 --> 00:39:35,500 so that's kind of the gauge that I use is they get them to explain it to me, 697 00:39:35,520 --> 00:39:37,100 but then I start poking the holes. 698 00:39:37,280 --> 00:39:40,700 So there's something called the Socratic method of arguing. And if, 699 00:39:40,700 --> 00:39:43,180 if you don't know who Socrates is, he's, you know, 700 00:39:43,480 --> 00:39:45,540 one of the goats of the philosophical world. 701 00:39:45,880 --> 00:39:50,100 And what it's meant to be is it's a way of plugging holes, 702 00:39:50,840 --> 00:39:55,180 uh, and fixing gaps in an argument. Alright? And so that's a, 703 00:39:55,340 --> 00:39:56,660 i I I turn it in and I say, 704 00:39:56,660 --> 00:40:00,700 the Socratic method of trading is I get them to teach me the strategy and I show 705 00:40:00,700 --> 00:40:01,540 them where the holes are. 706 00:40:01,960 --> 00:40:05,060 And from there you can kind of gauge their understanding of what they're 707 00:40:05,140 --> 00:40:08,620 actually doing. Are they just following blindly, following a set of rules? 708 00:40:08,880 --> 00:40:12,860 Or do they actually understand what they are doing? Right. 709 00:40:13,320 --> 00:40:17,220 And from my experience, I've probably had, oh my God, I've, 710 00:40:17,220 --> 00:40:19,500 I've done quite a few sessions now. Um, 711 00:40:19,520 --> 00:40:22,300 and even more discovery calls is, 712 00:40:23,080 --> 00:40:27,060 you all know enough that you do not need to know more about trading. 713 00:40:27,360 --> 00:40:30,620 The answer to your trading is not found in the charts. It's found in here, 714 00:40:30,620 --> 00:40:32,540 it's found here, it's found outside the charts. 715 00:40:32,540 --> 00:40:35,660 You have to figure out who you are, where you stand in this world, 716 00:40:35,660 --> 00:40:38,540 what you actually want, and be authentic about it. 717 00:40:38,920 --> 00:40:40,820 And the moment that you start being authentic about it, 718 00:40:40,970 --> 00:40:43,540 then those lessons will start to sink, right? 719 00:40:43,680 --> 00:40:47,980 All the emotional responses are gonna go out the wayside and you actually be 720 00:40:47,980 --> 00:40:52,100 able to learn. All right? So there isn't really a set of rules, 721 00:40:52,530 --> 00:40:57,500 it's more so, um, I take a look at how the person feels about their trading. 722 00:40:57,720 --> 00:41:02,430 You know, how do they feel about them, about themselves? Uh, are, are they, 723 00:41:02,430 --> 00:41:06,510 are they quick to react? Do they sit and think, uh, are they argumentative? 724 00:41:06,730 --> 00:41:08,830 Et cetera, et cetera. A lot of these, a lot of, 725 00:41:09,310 --> 00:41:10,910 I don't like putting people in a box, 726 00:41:11,850 --> 00:41:16,560 but most of the time traders who are at similar stages 727 00:41:16,820 --> 00:41:19,690 all behave the same way. Right? Now, 728 00:41:19,690 --> 00:41:21,010 obviously there's gonna be minor differences. Yeah. 729 00:41:21,010 --> 00:41:23,970 But more or less they all have the same cuz they've all been taught the same 730 00:41:23,970 --> 00:41:24,790 thing. 731 00:41:24,790 --> 00:41:28,690 So it's only safe to assume that if you've all been taught the same way then 732 00:41:29,420 --> 00:41:32,690 where you're at, up until the point where you finally realize that, 733 00:41:32,870 --> 00:41:36,200 you know anything is it's pretty consistent. 734 00:41:36,590 --> 00:41:40,040 Yeah. Yeah. It's, it's funny, it just sort of reminds me of, um, 735 00:41:41,430 --> 00:41:42,760 last night. Was it yesterday? 736 00:41:42,760 --> 00:41:46,080 Yesterday or two nights ago I actually bought a golf, 737 00:41:46,080 --> 00:41:49,520 and I know you're into golf. I bought a golf Oh yeah. Uh, like a swing thing. 738 00:41:49,540 --> 00:41:53,840 So, so my golf, like over the last two decades has been absolutely atrocious. 739 00:41:53,840 --> 00:41:55,720 It keeps getting worse and worse and worse. . 740 00:41:55,980 --> 00:42:00,800 And then it just turned a corner in the last like, uh, three or four months, 741 00:42:01,170 --> 00:42:04,120 right? Mm-hmm. and I started getting better again. And I dunno, 742 00:42:04,120 --> 00:42:07,760 I dunno why I started getting better other than just not caring and just trying 743 00:42:07,760 --> 00:42:10,320 to hit the ball. Yeah. Right. And then mm-hmm. , I thought, 744 00:42:10,320 --> 00:42:12,880 and then I played last weekend, had an absolute shocker, 745 00:42:12,920 --> 00:42:16,920 couldn't hit anything until the 17th hole last two holes were good. 746 00:42:17,540 --> 00:42:20,840 And I'd sort of just said, oh, let's just hit the ball again. And . 747 00:42:20,840 --> 00:42:25,800 Anyway, long story short, um, I ended up, uh, buying this course cuz I was like, 748 00:42:25,800 --> 00:42:28,440 you know, heads had to hit a clean shot and blah, blah, blah. 749 00:42:28,600 --> 00:42:30,560 So I bought the course, started watching it, 750 00:42:30,560 --> 00:42:34,440 and the guy's going through everything. Like everyone seems to think, 751 00:42:34,860 --> 00:42:36,800 and it sounds like similar to what you are saying, 752 00:42:37,160 --> 00:42:41,560 everyone's taught and the common sort of sayings the common rules, 753 00:42:42,800 --> 00:42:45,770 it's all wrong. And he's saying, it's all wrong. You've got it all wrong. 754 00:42:45,770 --> 00:42:49,210 This is what you should be doing. And he's like, in literally two minutes, 755 00:42:49,750 --> 00:42:53,450 showed you the difference between what you are doing with a golf swing and what 756 00:42:53,450 --> 00:42:55,690 you should be doing with a golf swing. And, 757 00:42:55,750 --> 00:43:00,610 and given a simple like two-step technique. And I'm like, oh my word. It's, 758 00:43:00,610 --> 00:43:03,650 it's almost like when I learned to play tennis many, many years ago, 759 00:43:04,370 --> 00:43:08,130 I went to see a professional tennis coach just on the off chance I didn't pay 760 00:43:08,130 --> 00:43:11,970 for it or may had paid for it. He said, jump on, I'm knackered. And a guy says, 761 00:43:11,970 --> 00:43:13,850 no, no, you do this, you brush the ball. I'm like, 762 00:43:14,770 --> 00:43:17,510 why has no one ever told me this before? , it's, it was like, 763 00:43:17,650 --> 00:43:18,710 and I started that's. 764 00:43:18,710 --> 00:43:19,550 Exactly the same thing. 765 00:43:19,780 --> 00:43:22,790 Yeah, exactly. And I was like 40 years old and it's like, well this is too, 766 00:43:22,850 --> 00:43:26,230 too late for me to start playing tennis again. But, um, it sounds like yeah, 767 00:43:26,230 --> 00:43:27,110 exactly the same thing. Yeah. 768 00:43:27,110 --> 00:43:30,390 It's just these sort of completely different perspective shifts. Now, 769 00:43:30,450 --> 00:43:34,070 one thing I did wanna ask was sometimes people get it and like, 770 00:43:34,070 --> 00:43:35,550 I've been at culprit of this as well, 771 00:43:35,550 --> 00:43:39,670 where they're going along and they've finally got, I've had a profitable week. 772 00:43:39,930 --> 00:43:43,910 And then things start to curve off. You start to slightly adjust things, 773 00:43:44,370 --> 00:43:45,630 you dunno what you're doing mm-hmm. 774 00:43:45,670 --> 00:43:48,670 and then all of a sudden you're back to square one again. Mm-hmm. 775 00:43:48,710 --> 00:43:52,350 and things are veered back to like, you know, not, you know, 776 00:43:52,350 --> 00:43:55,390 you're having an unprofitable week or you've just, just broken even. 777 00:43:55,700 --> 00:43:58,390 Have you had any guys come through or girls come through that, 778 00:43:58,420 --> 00:44:03,350 that have that kind of behavior and how have you been able to tackle that 779 00:44:03,350 --> 00:44:04,630 to get them back on track again? 780 00:44:05,690 --> 00:44:09,510 Uh, it's, it, I go back to data. You know, at the end of the day it numbers, 781 00:44:09,540 --> 00:44:13,790 numbers will not lie if you have a big enough sample size, right? 782 00:44:14,010 --> 00:44:17,310 And so when you, when you, when you're creating your strategy, 783 00:44:17,310 --> 00:44:19,790 you're creating a set of rules, you know, we back test it, creating, you know, 784 00:44:19,790 --> 00:44:22,510 we get in the markets, we just, we fool around. Uh, 785 00:44:22,890 --> 00:44:26,430 I'm just gonna tell you new traders right now, if you don't have a strategy, uh, 786 00:44:26,430 --> 00:44:31,110 stop trading live because you're just going to make your progress take 787 00:44:31,160 --> 00:44:33,640 that much longer. Alright? Press a, 788 00:44:33,880 --> 00:44:36,520 a brake pedal for a few months and that by the time you're ready, 789 00:44:36,580 --> 00:44:39,520 you'll leap forward to where you would've been otherwise. Um, 790 00:44:40,300 --> 00:44:44,640 is in order to kind of mitigate those issues is 791 00:44:45,220 --> 00:44:47,640 you have to have that data. But in order to collect the data, 792 00:44:47,980 --> 00:44:51,800 you have to have a set of rules, a set of parameters that, or that are, 793 00:44:51,800 --> 00:44:55,040 are algorithmic, right? Meaning that it's this or that. 794 00:44:55,040 --> 00:44:57,040 When you take a look at a lot of strategies, 795 00:44:57,050 --> 00:45:00,880 there is so much gray area in there, right? It's, you know, 796 00:45:01,020 --> 00:45:04,400 for how to determine direction. You have six different ways. It's like, 797 00:45:04,400 --> 00:45:06,600 well if it does this, it's gonna be this. If it does this, it's gonna be this. 798 00:45:06,600 --> 00:45:11,160 Well, there's only two ways it can go up and down. So find your parameter there, 799 00:45:11,160 --> 00:45:14,120 right? For entry. They're like, well if I have a a pin bar in this area, 800 00:45:14,160 --> 00:45:17,800 I can take an entry or engulfing here. If I break the structure, just pick one. 801 00:45:18,110 --> 00:45:19,760 Alright? Same with exit. 802 00:45:20,300 --> 00:45:24,680 And because in order to collect the most accurate data you can, 803 00:45:24,680 --> 00:45:26,640 you have to take a massive sample size. 804 00:45:27,040 --> 00:45:30,200 I have a few thousand trades to work off of at this point, right? 805 00:45:30,500 --> 00:45:34,600 So my sample size, my data is pretty solid. Um, but, you know, 806 00:45:34,660 --> 00:45:36,840 new traders who are kind of coming into it, you know, 807 00:45:36,990 --> 00:45:39,920 back testing a hundred trades is tedious and it's boring, 808 00:45:40,180 --> 00:45:41,800 but it needs to be done. Uh, 809 00:45:41,800 --> 00:45:44,400 but most people don't do it because it comes dressed in overalls and looks like 810 00:45:44,400 --> 00:45:47,720 work. But the things that people aren't doing well, 811 00:45:47,720 --> 00:45:50,520 it's the reason you're not succeeding yet. Yeah. 812 00:45:50,780 --> 00:45:53,400 And so when you go back to your strategy, you have, 813 00:45:53,580 --> 00:45:56,360 if you have all these different parameters that you can follow for all these 814 00:45:56,360 --> 00:46:01,240 different steps, well you are now needing to trade or, or test, 815 00:46:01,900 --> 00:46:06,160 um, you know, three to the power of nth whatever, um, 816 00:46:06,260 --> 00:46:08,680 for your strategy. So if you have three steps to your strategy, 817 00:46:09,060 --> 00:46:12,360 you have five ways to perform each step. Well, 818 00:46:12,360 --> 00:46:13,440 now you're three to the power of five. 819 00:46:13,480 --> 00:46:16,840 I think that's like 245 or something like that is what the number ends up being. 820 00:46:16,980 --> 00:46:20,920 You now have two, two hundred and forty five different sets of parameters that 821 00:46:20,920 --> 00:46:25,080 you need to get data on, right? Because if you do one way for, 822 00:46:25,100 --> 00:46:28,680 for step one and do another way for step two yeah. In one trade, 823 00:46:28,860 --> 00:46:32,000 and then you do another way for step two in the next trade, 824 00:46:32,190 --> 00:46:34,920 well you're trading two completely different strategies at this point. 825 00:46:35,580 --> 00:46:36,260 All right? 826 00:46:36,260 --> 00:46:40,760 And so what we need to do is we need to realize that our edge in trading, 827 00:46:41,170 --> 00:46:45,240 right, in regards to the problem you addressed in anything, it's not ab it, 828 00:46:45,240 --> 00:46:49,960 it's not what gives us a huge r o roi. It's not how many trades we get in a day. 829 00:46:50,300 --> 00:46:54,240 The edge is, is fa is, it's the rules themselves, alright? 830 00:46:54,780 --> 00:46:58,440 And within those rules, we have two things. Okay? We have two subsets of edges. 831 00:46:58,440 --> 00:47:02,440 We have the strategic edge and we have the edge of execution. All right? 832 00:47:02,500 --> 00:47:06,320 And so strategic edge are things that directly impact your p and l. You know, 833 00:47:06,320 --> 00:47:07,680 it's like, okay, well where do you take profit? 834 00:47:07,780 --> 00:47:11,360 Do you hold or do you take partials along the way? Right? Those things, 835 00:47:11,360 --> 00:47:14,280 the moment that you enact them or change them, your p and l will change. 836 00:47:14,540 --> 00:47:18,760 Now the edge of execution, execution is indirectly, uh, 837 00:47:18,760 --> 00:47:21,520 going to affect your p and l. And in fact, I believe it's more, more important. 838 00:47:22,140 --> 00:47:22,973 Um, 839 00:47:23,020 --> 00:47:27,960 it is simply creating a set or a system of trading that you 840 00:47:27,960 --> 00:47:29,540 can repeat and do every single time. 841 00:47:29,540 --> 00:47:32,000 So if you have those three ways of your direction entry, exit, 842 00:47:32,220 --> 00:47:34,520 and you only have one way of determining direction, 843 00:47:34,700 --> 00:47:37,160 one way of determining your entry, one way of determining your exit, 844 00:47:37,160 --> 00:47:41,480 you have now created an algorithmic pro process where it's either this or that, 845 00:47:41,970 --> 00:47:44,920 right? There is no in between. It's like, if you don't get this, it's this. 846 00:47:44,920 --> 00:47:47,280 If you don't get, it's this, it's this. And so from that, 847 00:47:47,580 --> 00:47:50,200 you can now create or not so much create, 848 00:47:50,200 --> 00:47:53,800 you can find the data that supports those underlying assumptions. Uh, 849 00:47:53,860 --> 00:47:58,360 and then you can start using that as you go live and finding your perspective, 850 00:47:58,360 --> 00:48:01,360 right? Data will give you that perspective when you're in the market. 851 00:48:01,420 --> 00:48:04,480 So you have a good profitable week, well, you gotta go address and say, okay, 852 00:48:04,580 --> 00:48:06,120 did I overperform, did I underperform? 853 00:48:06,460 --> 00:48:08,800 And the only way to do that is to look at your historical data. 854 00:48:09,100 --> 00:48:10,120 And the best way to do, 855 00:48:10,300 --> 00:48:14,200 to have historical data is to get as many trades that follow those rules as 856 00:48:14,400 --> 00:48:15,600 possible. And in order to do that, 857 00:48:15,780 --> 00:48:18,000 you need to have a very simple step-by-step approach. 858 00:48:18,020 --> 00:48:20,320 You can't have multiple rules for every separate LU eight. 859 00:48:21,020 --> 00:48:23,720 Now. Now, la last question before we wrap this thing up, 860 00:48:23,720 --> 00:48:25,960 and we'll actually two more questions. Um, 861 00:48:26,030 --> 00:48:29,880 this question is around the back testing, on getting that data. I mean, 862 00:48:30,510 --> 00:48:33,040 what do you, what's your recommendation around that given the fact, you know, 863 00:48:33,040 --> 00:48:36,640 you've got, you know, thousands of instruments you could be trading. Uh, 864 00:48:37,110 --> 00:48:40,240 some data may work good on, you know, if you, 865 00:48:40,240 --> 00:48:44,080 if you say tested like a hundred on one market and then you go off and they 866 00:48:44,080 --> 00:48:46,920 grow, well that works. I'm gonna trade all the markets now. Mm-hmm. 867 00:48:46,960 --> 00:48:48,840 , um, and then you find that, oh, it doesn't work. 868 00:48:48,840 --> 00:48:51,560 And then you go well, maybe I should have tested all the markets. 869 00:48:52,340 --> 00:48:56,880 How do you sort of help people get over that hurdle of a decision around or 870 00:48:57,220 --> 00:48:59,320 losing confidence in the data that they actually collect? 871 00:49:00,360 --> 00:49:05,100 So the pro, it's about that less is more, right? 872 00:49:05,640 --> 00:49:07,340 Uh, we have to decide, you know, 873 00:49:07,340 --> 00:49:11,260 what is necessary to do what we want with trading, but also what is enough, 874 00:49:11,930 --> 00:49:16,880 right? And you have to have a really good perspective on the realities and the 875 00:49:16,880 --> 00:49:18,720 expectations of what a strategy can do in the market, 876 00:49:18,720 --> 00:49:23,400 which is up to the person who teaches you everything that it comes down to. 877 00:49:23,500 --> 00:49:24,300 Is your mentor, 878 00:49:24,300 --> 00:49:27,880 are they preparing you properly or are you having to figure stuff out on your 879 00:49:27,880 --> 00:49:31,600 own that you wouldn't have to otherwise if the mentor prepared properly, right? 880 00:49:32,220 --> 00:49:36,630 And so, yeah, it's, it, it's, you know, 881 00:49:36,850 --> 00:49:40,550 the reason why we try more markets is cuz we want more. But you have to think, 882 00:49:40,730 --> 00:49:44,550 do you necessarily need more? And I was guilty of that. You know what, 883 00:49:44,650 --> 00:49:48,270 as a beginning trader, I wanted to make a million dollars a year. I am, 884 00:49:48,790 --> 00:49:50,950 I am not a millionaire right now, right? 885 00:49:51,770 --> 00:49:55,390 But I accepted the fact that what I have is enough. I don't need more. 886 00:49:55,530 --> 00:49:58,630 And I'm living in Spain living the dream. 887 00:49:59,290 --> 00:50:01,670 And you don't need a lot, right? 888 00:50:01,770 --> 00:50:05,750 And that's one of the greatest culprits to your success is thinking that you 889 00:50:05,750 --> 00:50:08,950 just need to go more and more and more. It's like, no, it's, it's, 890 00:50:08,950 --> 00:50:13,230 you only need a few percent a month because it's not about having more return 891 00:50:13,290 --> 00:50:15,430 for your trades, really, at the end of the day, 892 00:50:15,460 --> 00:50:18,870 it's about how big is your frigging account, all right? 893 00:50:19,010 --> 00:50:23,990 You want to get that account to a point where one trade pays for your monthly 894 00:50:24,040 --> 00:50:26,390 bills, right? Which means you're gonna have to wait, 895 00:50:26,450 --> 00:50:29,480 you're gonna have have to be patient and you're gonna have to have a plan to get 896 00:50:29,480 --> 00:50:31,640 it there. All right? And 897 00:50:33,300 --> 00:50:37,160 so to figure out the back testing dilemma, it, it really comes down to that. 898 00:50:37,310 --> 00:50:39,280 It's, it's what's enough, all right? 899 00:50:39,300 --> 00:50:41,840 If you have something that works really well on one instrument, 900 00:50:42,460 --> 00:50:46,200 how can you make it? So you only need to do that for that thing. 901 00:50:46,970 --> 00:50:50,880 Don't make anything harder or more complicated than it needs to be at the end of 902 00:50:50,880 --> 00:50:54,560 the day. Because trading, I, I, I'm gonna sound like an asshole for this, 903 00:50:54,560 --> 00:50:59,240 but trading's not hard. Trading is actually very, very simple. Uh, 904 00:50:59,260 --> 00:51:03,840 we make it impossible though, because of, of, of we're humans is. 905 00:51:03,840 --> 00:51:04,320 How we do. 906 00:51:04,320 --> 00:51:05,440 Things, right? 907 00:51:05,910 --> 00:51:08,080 Yeah. Actually it reminds me, like in terms of the back testing, 908 00:51:08,100 --> 00:51:12,880 it reminds me of a couple of things where, um, like one i one is I've seen like, 909 00:51:12,880 --> 00:51:16,360 you know, people, uh, come to me with back tests and said, Hey, look, 910 00:51:16,360 --> 00:51:19,400 this thing, this thing works, here are the rules. Uh, 911 00:51:19,950 --> 00:51:23,730 I've then automated it and found that like, oh, 912 00:51:24,040 --> 00:51:28,290 well you didn't actually factor that this and the other thing into the, like, 913 00:51:28,360 --> 00:51:33,210 they missed out that the actual setups that the automated bot didn't miss 914 00:51:33,210 --> 00:51:35,730 because it's like, well, you told me to do this, I'm gonna take the trade. 915 00:51:35,730 --> 00:51:37,930 Exactly. It's like you missed those trades or, 916 00:51:38,510 --> 00:51:43,010 or it worked over a short period of time when the market obviously liked those 917 00:51:43,010 --> 00:51:45,010 trades, but then when you went back further in history, 918 00:51:45,270 --> 00:51:47,090 all of a sudden the thing fell apart. Yeah. 919 00:51:47,190 --> 00:51:49,970 And it was only just working in that period of time. 920 00:51:49,970 --> 00:51:53,090 It just happened to be the period they back tested over. The other one, 921 00:51:53,090 --> 00:51:57,770 which is an idea for people is, uh, and another friend of mine said this, like, 922 00:51:57,790 --> 00:52:02,490 he gets somebody else to actually give him a market 923 00:52:03,070 --> 00:52:07,730 and a date to start from and he's gotta take a hundred trades 924 00:52:07,990 --> 00:52:11,770 and a back test in that period. So it could be some random market. Love that. 925 00:52:11,990 --> 00:52:14,970 And, and if it, and then just notes down the results and it, 926 00:52:15,110 --> 00:52:19,650 and it might be that like the strategy is not robust over that market or mm-hmm. 927 00:52:19,690 --> 00:52:22,090 , then it does work and it gives you, gives them more confidence. 928 00:52:22,190 --> 00:52:26,730 So another thing that people could pot potentially try with either I suppose 929 00:52:26,730 --> 00:52:30,330 their, their, you know, get their kid to do it or get their partner to do it, 930 00:52:30,330 --> 00:52:33,170 or just do some random thing on the internet. Man, I might, 931 00:52:33,210 --> 00:52:35,570 I might even chuck something up on trading notes so that people could go, 932 00:52:35,570 --> 00:52:37,730 here's your, here's your random back test challenge. 933 00:52:38,310 --> 00:52:39,143 Um, yeah. 934 00:52:39,830 --> 00:52:42,050 But yeah, look that, so that was the second to last question. 935 00:52:42,050 --> 00:52:43,370 The last question is, is it, 936 00:52:43,370 --> 00:52:46,370 what have I not asked you that you wanted to share today? 937 00:52:48,010 --> 00:52:48,843 Oh my god. 938 00:52:48,890 --> 00:52:49,610 Or is there have, 939 00:52:49,610 --> 00:52:52,790 or have you managed to let us know everything you wanted to get out? 940 00:52:53,670 --> 00:52:57,710 Hmm. Off the top of my head, um, 941 00:52:59,390 --> 00:53:01,330 I'm just gonna say this and you know, 942 00:53:01,630 --> 00:53:03,410 you can put me under the microscope as well. 943 00:53:03,430 --> 00:53:07,170 If you're a student of mine or wanna become a student of mine, whatever is, 944 00:53:07,710 --> 00:53:10,890 you know, take a look at, you know, what your mentor's actually doing for you. 945 00:53:10,950 --> 00:53:14,370 Is it making you feel good or is it actually making you good? And I'm, 946 00:53:14,370 --> 00:53:18,130 I'm kind of, I'm more or less referring to, you know, the hype, right? 947 00:53:18,190 --> 00:53:20,090 The excitement, you know, it's, 948 00:53:20,190 --> 00:53:23,210 you get those group chats and you get everybody riled up with the memes and 949 00:53:23,210 --> 00:53:27,920 everything. But trading doesn't require that. 950 00:53:28,510 --> 00:53:33,200 Trading needs to be as quiet and calm as this conversation here. You know, 951 00:53:33,200 --> 00:53:36,480 trading is not emotional, right? It's not about excitement, 952 00:53:36,480 --> 00:53:39,840 it's not about getting hyped up, right? In fact, you need to be the opposite. 953 00:53:40,020 --> 00:53:40,800 And this is why I, 954 00:53:40,800 --> 00:53:45,040 I dive in stoicism so much cuz it creates that grounding when it comes to 955 00:53:45,040 --> 00:53:49,800 trading and uh, really go and take a look at social media, you know, 956 00:53:50,220 --> 00:53:53,120 um, cuz social media is, at the end of the day, 957 00:53:53,120 --> 00:53:55,720 it's such a huge factor in our lives. You know, we bought it, 958 00:53:55,860 --> 00:53:58,800 it is how we run our lives, right? It's how we communicate, 959 00:53:58,990 --> 00:54:01,400 it's how we find the things that we do. I mean we're, 960 00:54:01,630 --> 00:54:04,880 this is on social media right now. That's how you're listening to this. 961 00:54:05,460 --> 00:54:10,160 And so what you have to take a look at is, um, you are, 962 00:54:10,220 --> 00:54:14,600 if you hire someone and you do everything you're supposed to do, 963 00:54:15,620 --> 00:54:20,310 then and you do are still not finding success and that person is not trying to 964 00:54:20,310 --> 00:54:21,990 help you then find someone else. 965 00:54:22,570 --> 00:54:25,910 And you can usually locate those people by the things that they post and what 966 00:54:25,910 --> 00:54:27,310 they do. You know, there's a lot of, 967 00:54:27,310 --> 00:54:30,870 there's a difference between problem aware content and, uh, 968 00:54:30,870 --> 00:54:34,790 content that just makes you feel good, that gets you psyched. You know, 969 00:54:34,820 --> 00:54:37,790 does a hashtag facts, hashtag truth and stuff like that. You know, 970 00:54:37,790 --> 00:54:40,950 you see the moody low exposure reels that, 971 00:54:41,050 --> 00:54:44,430 you know have the motivational quotes, well, motivation and inspiration, 972 00:54:45,220 --> 00:54:49,790 they're useless, right? They, they're fleeting, right? If, 973 00:54:49,790 --> 00:54:53,430 if you only do stuff when something else makes you feel like you need to do it, 974 00:54:54,020 --> 00:54:56,990 then you're only going to move the needle when that happens. 975 00:54:57,730 --> 00:54:59,790 And that's where we dive into, 976 00:54:59,790 --> 00:55:03,590 well are you actually becoming good or do you just feel good? 977 00:55:03,610 --> 00:55:07,350 And so being able to make that distinction all comes down to the person that you 978 00:55:07,350 --> 00:55:09,470 are looking up to in order to trade. Uh, 979 00:55:09,490 --> 00:55:13,750 the very last thing before we go is I want to touch upon just one more huge 980 00:55:13,750 --> 00:55:16,030 perspective shift. Okay? Now, 981 00:55:16,990 --> 00:55:20,790 I have coached so many people by this point. I had, you know, 982 00:55:21,800 --> 00:55:24,600 I can't even remember how many were, were in my first co first course. 983 00:55:24,790 --> 00:55:28,280 I've had a revolving door since I started launching my mentorship. You know, 984 00:55:28,280 --> 00:55:31,720 it's, it's like three months. So every three months we get new people going in. 985 00:55:32,660 --> 00:55:37,400 And the biggest mistake that new traders are making is they're trading live 986 00:55:37,460 --> 00:55:39,720 too soon. And this is why I know this for a fact. 987 00:55:39,820 --> 00:55:43,520 So if we take the markets about 20, 30 years ago, uh, 988 00:55:43,860 --> 00:55:47,000 in order to trade the markets, whether it's four x, 989 00:55:47,000 --> 00:55:50,040 whether it's stocks in dicey crypto wasn't a thing back then. 990 00:55:50,220 --> 00:55:53,790 So we won't worry about that is you, 991 00:55:53,790 --> 00:55:56,230 we didn't even have cell phones that could do that. 992 00:55:56,290 --> 00:55:59,510 So the barrier for entry for that was much more difficult. If you wanted to, 993 00:55:59,650 --> 00:56:03,510 to be a trader, what did you do? You had to go to post-secondary school, uh, 994 00:56:03,510 --> 00:56:07,670 university college, you had to at least get an accreditation or a certificate. 995 00:56:07,930 --> 00:56:10,230 Uh, you could not go and trade live money right away. 996 00:56:10,230 --> 00:56:12,950 You had to work as an intern, as an associate, et cetera, et cetera. 997 00:56:12,970 --> 00:56:16,030 It probably took about five or six years for you to actually, you know, 998 00:56:16,210 --> 00:56:17,950 be on your own two trade. You know, 999 00:56:17,950 --> 00:56:21,590 maybe minimum two or three if you went to a specific tech school. 1000 00:56:23,100 --> 00:56:27,600 So why is it that we think that nowadays just because we have 1001 00:56:27,700 --> 00:56:29,760 access to it, just by opening up our phones, 1002 00:56:29,830 --> 00:56:33,160 that we are gonna be able to do it without taking the proper steps. 1003 00:56:33,940 --> 00:56:38,440 So remember that. Alright, this, do you really think that in 19, 1004 00:56:38,440 --> 00:56:42,680 in the 1990s, the failure rate of the trade of the, uh, Harvard, 1005 00:56:43,300 --> 00:56:44,133 you know, 1006 00:56:44,690 --> 00:56:48,800 brown educated Ivy League people who are going into the marks, 1007 00:56:48,800 --> 00:56:52,880 do you think there's a 95% failure rate? No. There, there no, absolutely not. 1008 00:56:52,880 --> 00:56:55,000 Because the barrier for entry was completely different. 1009 00:56:55,420 --> 00:56:59,280 So what we have to do is we have to think, well what's changed, right? 1010 00:57:00,190 --> 00:57:02,520 It's us, it's our access to it. 1011 00:57:02,540 --> 00:57:07,400 So the moment that you realize that these guys who are having to go 1012 00:57:07,400 --> 00:57:11,600 through these steps to do the same thing you're doing now, um, 1013 00:57:11,900 --> 00:57:13,240 and they're having a low failure rate, 1014 00:57:13,240 --> 00:57:18,040 well maybe you start walking that same path. Do not trade. Live right away. 1015 00:57:18,620 --> 00:57:23,160 Get your strategy, get that data, develop the habits and the patterns, 1016 00:57:23,630 --> 00:57:26,310 test it live, then you'll be ready. 1017 00:57:26,560 --> 00:57:29,710 It'll happen sooner than you think if you just take goddamn time. 1018 00:57:30,020 --> 00:57:30,853 Yeah. 1019 00:57:31,190 --> 00:57:31,910 it then is. 1020 00:57:31,910 --> 00:57:34,630 Great advice to wrap up on. And I think folks, 1021 00:57:34,690 --> 00:57:37,790 you're probably gonna wanna rewind this, watch it a few times. There's, 1022 00:57:37,820 --> 00:57:41,550 it's packed full of useful nuggets and even I didn't catch all of them so I'm 1023 00:57:41,670 --> 00:57:44,150 probably gonna have to do the same . Tyler look, 1024 00:57:44,150 --> 00:57:46,750 thanks for coming back on the show. It's been fantastic now. 1025 00:57:46,860 --> 00:57:48,430 Love it. Thank you so much for having me. 1026 00:57:48,730 --> 00:57:49,830 Before you wrap up, what, 1027 00:57:49,830 --> 00:57:52,310 what's the best way for folks to find you and get hold of you? 1028 00:57:53,110 --> 00:57:58,000 Well, at my Instagram tag, um, that is probably the best way. Uh, 1029 00:57:58,000 --> 00:58:00,040 cause I'm still using my old, um, 1030 00:58:00,530 --> 00:58:04,280 email and Instagram kicked me off in August because of scammers. 1031 00:58:04,340 --> 00:58:07,440 You guys all know those fake accounts that keep popping up about the Forex guys, 1032 00:58:07,700 --> 00:58:08,000 you know, 1033 00:58:08,000 --> 00:58:12,320 you have Trading Nut or trading nu dot t and it starts asking people for money. 1034 00:58:12,560 --> 00:58:16,760 I had that happen to me. They got my old account taken down 10 to of followers, 1035 00:58:16,920 --> 00:58:17,800 I had to start from scratch, 1036 00:58:17,940 --> 00:58:21,920 but allowed me to recalibrate and redo everything what we're doing now. 1037 00:58:22,260 --> 00:58:26,520 So it's at your fourex mechanic on Instagram and yeah, 1038 00:58:26,520 --> 00:58:28,280 just hit me up on there, give me a follow, 1039 00:58:28,760 --> 00:58:32,360 whatever I'd love to hear from you and I'd love to talk to you and maybe see if 1040 00:58:32,360 --> 00:58:34,840 we can get you where I need to be. 1041 00:58:35,310 --> 00:58:38,640 Awesome. Well look folks, a big thank you to Tyler for sharing with us today. 1042 00:58:38,640 --> 00:58:42,000 Everything we've discussed here along with those links he's just mentioned, uh, 1043 00:58:42,000 --> 00:58:43,240 are gonna be the show notes to find them. 1044 00:58:43,240 --> 00:58:46,880 Simply search to Tyler in the search box on trading net.com. Until next time, 1045 00:58:46,880 --> 00:58:49,640 wish all my listeners Trading Happiness and Success. Alright. 1046 00:58:49,640 --> 00:58:51,600 Folks, there you have an interview done and thus with Tyler. 1047 00:58:51,660 --> 00:58:54,720 Now you do wanna probably hit that one on repeat, download it, 1048 00:58:54,720 --> 00:58:57,760 listen to it again sometime in the future. So many nuggets in there. Now, 1049 00:58:57,760 --> 00:58:59,280 if you do want more from Tyler, 1050 00:58:59,670 --> 00:59:03,160 then we did shoot a video afterwards where he takes you through his trading 1051 00:59:03,560 --> 00:59:07,400 strategy and one of the biggest mistakes you're probably gonna make back testing 1052 00:59:07,660 --> 00:59:09,880 any strategy that you come up with. In fact, 1053 00:59:09,880 --> 00:59:13,440 it's probably the reason why you hate back testing if you do. 1054 00:59:13,820 --> 00:59:16,600 So that is coming up on the YouTube channel. So head over there, 1055 00:59:16,610 --> 00:59:20,560 links underneath the video or pod folks, thank you for listening. 1056 00:59:20,560 --> 00:59:23,480 Thank you for watching wherever you are, and we'll see you in the next one.