Afleveringen
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In this episode, I dive into the realm of options trading, particularly focusing on individuals beginning their investment journey with a small trading account. This episode is designed to begin to lessen the concept of options trading, proving that it's not as complicated as it might seem and demonstrating how it can be a powerful tool for generating impressive returns in a short amount of time, even with limited capital. Through a real-life example shared from our trading community, I explore how a modest investment in options can yield a substantial percentage return, emphasizing the importance of risk management and capital efficiency. This reference point is perfect for beginners looking for a straightforward entry into options trading, offering insights into leveraging small accounts for significant gains.
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I believe it’s safe to say this person does not like day trading… at all! In a recent YouTube comment someone brought a flame thrower and, in their opinion, torched day trading as a money making income stream. He made several claims that I want to address as it kills a few birds with one stone. Discussing these claims helps not only dispel them as very weak, but also helps build a better context for aligning reality and expectations. I’d hate to see someone avoid day trading because of these kinds of thoughts; however, there are minor pieces of truth to them, so I want to be sure that beginners have a firm grounding in reality. This person was quite harsh, so let’s consider their critiques and think through them together!
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Zijn er afleveringen die ontbreken?
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While we all have different risk tolerances and personalities as traders, at the core, we’re all still human. Meaning, there are some general scenarios that happen to us all whether or not it seems like it. Given the nature of social media and YouTube, some situations can seem to never happen to people, but I assure you… they do! The dangerous part of this particular situation I discuss is the impact from the mental standpoint it can pile on you. During the piling on process it can tend to open up another whole can of worms. The solution to all of this is a simple one: be aware! When you are aware you can realize what is going on in your brain and deal with it in logical ways, not emotional. Let’s talk about a very important topic for all of us as traders!
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There is a recent controversial proposal to increase the federal minimum wage to $50 per hour. Let’s consider some economic principles, supply and demand dynamics, and real-world scenarios, we assess the potential impacts of such a significant wage hike on affordability, housing, and the broader economy. Join us as we consider factors between labor costs, housing supply, and market rates to understand whether a $50 minimum wage could truly solve affordability crises or inadvertently lead to unintended consequences.
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I’m here to teach! I want everyone to have a firm foundation of even the most basic economic and money principles. With that being said, apparently we need to talk exchange rates. What they are. How they work. Their practical implications. Tucker Carlson recently did a video and his entire argument was based on a very flawed premise. How flawed? The very thing he was arguing for he at the same exact time was defeating. How is this king of logic and accomplishment even possible? Well, if you don’t understand your premise, you’re going to have issues. If you are someone who is not quite sure what an exchange rate is, let’s talk about it. If you are someone who enjoys some comedic irony, you’ll get a laugh out of this.
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It’s a confusing time. You look at many of the economic indicators and it seems like the USA is on fire (in a good way!); however, there are some apparent contradictions between economic indicators and public perception. With stock market highs, job surges, and dropping inflation, why does Biden face a 20-point deficit against Trump in economic handling? There is some additional data we need to look into to have a better understanding of what the cause of this confusing disconnect is arising from. Let’s talk some current events while also learning a bit more about economics so you can become the most informed voter possible!
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As the political season really heats up we’re starting to see more and more talking points from the various candidates. While I’m not here to rant and rave in favor of one candidate or another, whenever I see economic talking points, I want to be sure everyone has a baseline understanding. In doing so, you’ll be in the best spot available to make an educated choice. Maybe you choose to go about it differently than I do, and that’s fine with me. If we’re both operating from a place of understanding but we simply disagree, then no problem there! With that being said, my goal is not to persuade you in one direction or another, all I want to do is explain trade tariffs and the considerations we all need to weigh in both directions. Are they good or bad? Let’s discuss it and do some clarifying!
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For the beginner and person just getting started in the world of trading, this is a critical question and usually one of the first considerations. I recently had someone ask me about this topic but in more of a unique way. In doing so, they opened up the door for a different approach on the topic that should make things crystal clear. The vast majority of beginners go through the platform and broker process the wrong way. I don’t blame them. When you’re new and don’t know what you don’t know, part of that is not understanding the proper approach. Let me walk you through how to ask this question regarding platform and broker in the most complete way possible.
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I realize saying something is “next level thinking’ reeks of exaggeration and being overly dramatic, but in this case, it’s not. There was a recent event that took place in the markets that illustrates how we as traders and investors need to be thinking in “next level” ways. To be fair to all those who fall into the trap (including me when I first got started), you aren’t stupid. In fact, you are thinking in a rationale and logical way. The problem is though, within the world of trading and investing the logical way to think is oftentimes the worst way to think. What do I mean? Let me explain not “in theory” but rather using a real life event that just happened serving as an excellent case study.
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All drama aside, what I talk about in this episode is a “must understand” concept for all of us as traders and investors. As you’ll hear about, I came across someone within my YouTube comment section that did not understand this concept and it had them in a very risky personal finance situation. I’ve heard many horror stories over the years due to a lack of understanding, and my goal is to ensure you don’t put yourself in harms way. The good news is, it’s not a totally complicated idea to understand; however, I can totally relate to people getting disoriented by it. Especially if you are a beginner trader or investor, invest a few moments of your time with this episode to ensure you don’t throw yourself into a financial pit!
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Scams are a very real thing. I’ve lost count of the number of people who have reached out to me about an “issue” to, unfortunately, realize they’d been scammed. I want to teach you one very simple fact that is all you need to know to avoid being scammed in the world of trading and investing. Is it a basic principle? Yes. Is it one that people need to be told? Based on my personal interactions, yes! This episode will be very quick and to the point. Let’s get to it and ensure you do not fall for any kind of trading or investing scams that are very common place!
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As we start a new year, I want to walk you through what I would argue should be the number one goal for all of us as traders. This is a goal that anyone can accomplish. There is truly no excuse on why you can’t put this goal in motion and immediately start to reap the benefits of it. It’s a new year so let’s focus on goals that will have practical affects on our trading outcomes! Let’s go!
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A whole lot of whether or not you will find success as a trader depends on your attitudes and perspective before you begin. If you approach the world of trading from the wrong angle, you are not guaranteed to fail; however, you are putting yourself at a distinct disadvantage. We all value our time and in order to maximize your time efficiency as a trader, you want to enter a situation with the realistic mindset. I had an interaction with someone recently and it really made it glaringly obvious that their mind was in the wrong place. Again, I don’t want to overexaggerate and be dramatic. Minds in the wrong place don’t mean you will for sure fail, but minds in the wrong place need to be corrected… so here we are! Let’s make sure you are not in this place within your trading which sets you up for false expectations and causes you to look in the wrong places.
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The true skill set of a trader has nothing to do with reading technical charts or understanding balance sheets and cash flow statements. The true skill revolves around understanding your emotions and knowing how to control them. There are a variety of emotions that need to be considered within the world of trading and investing but one of the key emotions is fear. Fear is tricky because not all fear is bad. What do I mean? I want to quickly walk you through two types of fear which must be understood and harnessed. These may not be the most exciting topics do dive into; but, they’re some of the most important and this is why most fail. The normal person chases after the exciting topics and ignores the boring ones. This is a huge mistake! Let’s talk some fear.
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The market has a very sick sense of humor. If you’ve been around long enough, you know exactly what I mean by this! For the unsuspecting victims, they are treated as little puppets until the market decides to crush them. I know I’ve been there! The market has played me like a fiddle on more than one occasion. The difficult part with all of this is to most traders, they have no idea until it’s too late. That’s why this episode is so important! When you can become more self aware, you begin to put yourself in way better positions and are better prepared to recognize the market’s mind games. I interacted with someone recently who demonstrates exactly what i mean. I can understand why the person thinks what they do, but this is the type of trader you don’t’ want to be! Let’s talk about it!
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I want to talk about a topic that applies to all of us in one way or another. I recently had a conversation who made the argument that everyone should be paid a livable wage. I know this is not some new thought or a talking point which has not been discussed in the headlines before; however, I did want to bring another view to it that I believe many are missing in their analysis. If you ever come across someone who wants a living wage to be paid (or perhaps you already feel this way), I want to offer up a few other angles to consider. I respect everyone’s point of view and can appreciate where everyone is coming from, but if a topic is going to be addressed in the most efficient way possible, we need to ensure we’re approaching it as accurately as possible. Let’s get to it!
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Yes, life is tough. It’s correct, the world is not fair. Some people start off with more of a head start than others. You can’t refute these things, they’re fact. With all that being said, there is a powerful question you can ask and it’ll get you pointed in the right direction. At the end of the day, that’s what it’s all about. Finding the direction you should be headed in and then going with it. What is this question and what makes it so powerful? Let’s discuss it. I don’t want to overcomplicate anything but hopefully get you thinking in a way that’ll drive maximum efficiency.
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If you overlook this particular dynamic in trading and investing, you’re going to experience failure. There’s a couple of reasons for this and neither of them in the big picture is going to work out well. With that being said, this is where the irony of the problem arises because it develops from a “big picture” horizon of time. This is also where additional irony comes into play because as traders and investors we need to be patient and allow consistency to add up over larger horizons of time. This all sounds fine and dandy (and it is in theory), but in reality, these things will work against you and cause pain. Let’s make sure you are well aware of this thought process so you are not caught off guard.
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I recently released a video with what I thought was a good argument for the logic some people choose to use in their learning journey. I was confronted with two rather lengthy comments (from the same person) objecting to my claims. I wanted to address these as I believe it makes an interesting conversation and, hopefully, can open the eyes of people who ascribe to the line of reasoning displayed on this individuals’ part. I also believe that many of the problems in life can be solved by learning how to converse with one another and not throw logical fallacies into one another’s face. We have a bit of that here so I’d like to try and point them out so we can all learn together on how to conduct the most efficient conversations possible. There are some doubters out there, so let’s address their objections and try to clarify everyone’s perspective.
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It’s nothing that has not been said here before, but trading is very difficult. One of the biggest reasons is because of all the gray territory that exists within the world of learning and improving. Much of it has to do with the way the mind works and how we process and store the information. There is a concept in psychology known as dogmatism which, when left unchecked, can truly set you up for failure and headaches. If you’re anything like me, you’ve heard this term before but never really know much of what it means. Upon studying it more though, it creates a threat that we all need to be aware of. Not only when it comes to the world of trading, but to the general way of life. The problem is, there is also a fine line within trading when it comes to this as you don’t want to pull yourself in too many directions. Let’s talk about this more and make sure we are on guard and aware of these potential pitfalls.
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