I give this trader a whole ton of credit for sharing this with me, but even more credit for some of the self-realization that occurs. The problem with overconfidence in the markets is that the majority of the time, you don't know you're being overconfident until it's too late. Taking an account from $4,000 to $20,000 is an awesome thing; however, when it is being done without an actual strategy/system, it's only a matter of time before the market takes back what it gave you.
One of the best things you can do to improve as a trader (or simply life in general) is to fine tune your mental health. A great way to accomplish this goal is to get in physical health. I can speak from first-hand experience. A few years ago I let myself go and packed on the pounds. During this time, there just always seemed to be cobwebs in my mind causing a "blah" type feeling. I got my act together and decided to get healthy again by working out and that' what I go through here, my workout routine that helped reshape my body and most importantly, my mind.
I've made this statement time and time again. I will probably say it a million more times too, but this is all for good reason. As you will see in this real life example from YouTube, this person knows some surface deep rules of the market; however, they also "don't know" there is more which is leading them to all sorts of WRONG conclusions. You need to be very self-aware that just because you THINK you know something, doesn't mean you actually do.
I've been getting asked more and more about cryptocurrencies within social media and such, but the straw that broke the camel's back was when my brother-in-law's brother shot me a text asking about it. I talk about that text and share my opinion in regards to a strategy to use for trading cryptocurrencies. I then also talk about my thoughts in general about investing into Bitcoin, Ethereum, etc. It's a very laid back video, but I wanted to get it out there as soon as possible given the questions about it keep piling up.
Hold or Sell? Use this Strategy - https://claytrader.com/videos/hold-or-sell-use-this-strategy
There is no such thing as the holy grail for how to trade in the stock market; however, there are some attributes and characteristics that once developed can put your odds of success much higher. One of the most important things a trader must have is self-awareness... kind of... it needs to be the sweet spot of self-awareness and that's exactly what I discuss in this video.
Not much to say. I hope people can get a quick laugh out of it, but on the same note, it's scary to think that the human mind can take our "thoughts" this far if we allow it to. Sad, funny and scary all at the same time.
The $2.50 Rule - https://claytrader.com/videos/1-penny-stock-short-scam/
Out of all the members of our private trading community, Nate easily has one of the more interesting "jobs". He works as a sports investment banker and he was kind enough to give us a tour of the awesome office. I also have some real life experience on why you should be shorting Southwest Airlines! They are slipping as you'll see. Grrrr...
Some of the most used terminologies I come across from newer traders is "rigged" and "manipulated" when it comes to the stock market and trading in general. While things can certainly seem impossible because of "big money" and the super computers, there is an awesome tool available to us all that not only exposes the manipulation but allows us as traders to form trade plans and profit from it. There is no need to fear stock market manipulation - embrace it!
I give this person a whole lot of credit. They are clearly under the proper mindset that in order to have success in trading, you must first invest into your education to learn. Their plan of action includes taking a loan to not only finance buying my ClayTrader University training program, but also to fund their trading account. Is this a wise move? Well... it depends... let me explain.
In this day and age of awesome technology, a common plan of action is to use a smartphone to trade the stock market with. I can't say that this is a terrible idea; however, the solution is not very black-and-white. There is quite a bit of gray involved so I wanted to use an easy-to-follow chart that summarizes now "how" to use your phone to trade, but rather, "if" you should even be using your phone.