Warrior Trading Blog

This student made $3,600.00 within 1 month of graduation!

student

This student made $3,600.00 within 1 month of graduation!

 

 

What’s up everyone? All right, so I’m sitting here with Justin, he’s one of our students in the Warrior Pro class and we’re gonna talk a little bit about his experience learning to trade and what got him into the market, how he found Warrior Trading, and how he’s been doing since he got into the classes. We can start with kind of the broad brush strokes. You joined about four months ago, so you just graduated from the class, it’s a 90 day class. You just finished the class and you’ve been trading with real money, so since you started trading with real money, can you give me kind of your stats of how much you’ve made, and what your accuracy has been, and stuff like that?

 

Justin:                   Since I went live my accuracy on a par-trade basis is around 70% and I’m right at about a 1.53:1 profit/loss ratio. I have to admit it was a lot higher                                         than that until Friday, I got a little bit of FOMO.

Ross:                     Okay.

Justin:                   And tried to trade a TSRO and just the spreads and everything were so huge on it, it got away from me, but yeah until then I was a lot better, but still                                     around 1.5:1 is what I’m at and with a 70% accuracy rate.

Ross:                     That’s really good and for the students that are watching this or beginner traders, if you’ve ever watched Shard Tank or one of those shows, one of the                                    things they ask is, do you know your numbers? They want to see that those business owners know their numbers. What’s your overhead? What do your                                profit margins look like? What’s the market for your product? As a trader, it’s no different. You need to know your numbers. You’ve got them dialed                                      right in. You know it’s 1.53:1 profit/loss ratio is 70% success, so you know just purely from a statistical standpoint that, that is a metric that will make                                   you money as long as your position size and share size is the same on every trade.

Justin:                   Right.

Ross:                     If you took 50,000 shares on one trade, that would obviously blow out a hundred winners with a hundred shares.

Justin:                   Right.

Ross:                     But other than that, you know that those metrics are safe. That’s one of the things that we talk about in the class and that we are sort of building into                                      the curriculum, is this profit trifecta and what it states is that you need to have a minimum profit/loss ratio, a minimum percentage of success, and a                                    minimum period of accuracy consistency before you trade with real money. Even for a trader like myself, where I sort of fit on that sliding scale of those                                three metrics is my profit/loss ratio is close to 1:1, it’s a little better than 1:1. My accuracy is around 70%. My consistency is, I guess right now this will                                    be the first week, but I’m on three green days right now. I had a red week last week, but before that I had five consecutive green weeks. You know five                                   green weeks, one red week, that’s fine, but generally that’s sort of what we look for. Now, how much have you made since going live? Since finishing the                               class?

Justin:                   All said and told, probably about $3800.

Ross:                     Okay.

Justin:                   So roughly a little over 1000 a week.

Ross:                     Okay.

Justin:                   I’m a real estate appraiser, I own a real estate appraisal business, so what I try to do is trade in the morning and I’m on the central time zone, so we                                       start at 8:30 and so I’ll trade til about 10:30, and then I go and run my business after that. Most of that money honestly has been made in the first 45                                    minutes of the day.

Ross:                     Yeah. Today, that was the same for me, I traded from 9:30 eastern until 10:30, I made $4200 and that’s it, I’m done for the day, right?

Justin:                   Yup.

Ross:                     It’s whatever, 2:13 now, 2:00 in the afternoon, I wouldn’t keep trading now. Basically what I do is I sort of compartmentalize my day. This is the trading time when I’m actively trading. This is the time when I’m checking emails. This is the time when I’m on the phone with students. By doing that, it really prevents me from coming back into the market at a time of day, like say the afternoon, after I’ve had lunch, when I’m kind of not as alert, and that’s the time when I’m more apt to make mistakes statistically. By looking at my track record I know that, so I’ve learned to cut that time of the day out for trading. I don’t trade then, I do other stuff.

Justin:                   Yeah, I’ve noticed any time I try to trade in the afternoon it’s either a very small win or that’s when I lose money.

Ross:                     Yeah.

Justin:                   I just decided, and I’m still trading with smaller share size since I’ve just gone live I’m trying to keep it small until I get comfortable because you’ve said it in the past, really the difference between making X and Z is share size. I want to get consistent while still using smaller share size and then just ramp it up as I go.

Ross:                     Yeah, that’s 100% the way to do it because like you said, the reality is, if you’ve made $3800 in the last three weeks, $1200 a week average, whatever it is, and you were trading with an average share size of, what would you say it is right now?

Justin:                   Probably around 500 shares.

Ross:                     500 shares?

Justin:                   On bigger capped stocks.

Ross:                     Right.

Justin:                   Then I’ll up it if I’m gonna do a momentum play on a smaller capped stock, I’ll trade maybe 1000 shares.

Ross:                     Okay.

Justin:                   Right now.

Ross:                     Those metrics that you shared with us, 1.53:1 with 70% accuracy, those are regardless of share size, right. So with 500 shares, that translates right now to $3800 in three weeks. With 1000 shares, probably 7000. 2000 shares, 15,000. It just continues to grow exponentially.

Justin:                   Right.

Ross:                     You might think that and be like, wow okay I’d love to make $15,000 in three weeks, the challenge is that as you increase share size, you start to bring in the emotions of trading, which is why we condition everyone to get comfortable experiencing those ups and downs with small size, so you can focus on trading the set up in the best possible way. Now allowing yourself to take emotional trades or have emotional reactions, and then as you condition yourself to being comfortable with losing a $100 bucks on a bad trade. You increase it to losing $150 on a bad trade and then 200, 250, 500. I’m at a point now where I can lose $500 or $1000 on a bad trade and doesn’t shake me, but that was not the case five years ago when I was a beginner trader.

Justin:                   Yeah.

Ross:                     It was like $1000, that’s how many bills I could have paid and all of that stuff starts to fire. You’re absolutely doing the right thing. Now, I want to touch on the fact that you share something in common with actually the majority of our very successful students, which is that you’re also running your own business.

Justin:                   Yeah.

Ross:                     This is true with a lot of our students who have been successful and I think the reason that successful students are often also small business owners, or the reason they’re may be more likely to be successful is because they treat trading like a business.

Justin:                   Yes.

Ross:                     I want to get some feedback from you about kind of what made you want to add day trading into your daily routine?

Justin:                   I’ve always been interested in trading and the stock market. My grandfather was a stock broker for Dean Witter for 40, 50 years and so he was always in the stock market, but I went to college and I took some finance classes and I think my entire experience with the stock market was about a one week simulator, kind of a crash course on the stock market. I did that and then got into real estate and life happens and things happen, and all of a sudden I realize it’s 16, 17 years later and I haven’t done it, but I’ve always been interested in it.

Being self-employed, I don’t have a 401K plan and I don’t have retirement plans. Anything I put aside for retirement is all on me and so I started thinking I really need to start doing something proactive to put some money aside and grow a retirement. That’s how it started and so I started doing some research on stock market and trading, and your name kept popping up. I thought, okay well I’ll check this guy out, so I watched some youtube videos and I really liked how you stressed this isn’t a get rich quick scheme because if you watch all these videos on youtube it’s like, oh make a million dollars in three weeks, well that’s not reality.

Ross:                     Right, yeah.

Justin:                   And I liked how you kept it real, I guess you could say and so I thought, okay. Then I took a webinar and watched your webinar and signed up that day. I really never planned on getting into day trading, but the more I watched of your videos I thought, I kind of like this. The other thing was I really liked the fact that as a real estate appraiser we get paid per report, so a bank sends a request over, we do the report, turn it in, it’s like a widget factory. You get paid for how many widgets you turned out. Well, if I’m not here, no widgets get turned out and no money gets made.

I liked the fact that you could be on vacation, get up, have your laptop and some portable monitors, and be able to trade in the morning and then go enjoy the rest of the time with your family. I thought it’ll never hurt to learn a new skill, even if down the road three months from now I decide this isn’t for me … This is what I was thinking in the beginning. Even if I decide this isn’t, at least I’ll have a new skill that I can take with me in life and do something with, but I’ve loved it ever since that first class. It’s exciting, every morning you get up, okay what’s gonna happen today, you know?

Ross:                     Right.

Justin:                   I know what’s gonna happen in the real estate market, I’m gonna do more reports and see another house that looks just like the last house.

Ross:                     Right.

Justin:                   But with the stock market, it’s an adventure every day.

Ross:                     Yeah, I think that, that’s something that really appealed to me too. The fact that every day is different. Pretty much every day we’re trading, even if we might trade the same stock a couple of days in a row, there are different set ups.

Justin:                   Right.

Ross:                     There’s different headlines. It just keeps you really mentally sharp, really engaged because you can’t get complacent, you know?

Justin:                   Yeah.

Ross:                     Maybe there are times where, you know for me when I’m on kind of the extreme edge of being really aggressive with really big share size, every trade with 15- or 25,000 shares, carries a lot of risk and it can either be a huge winner or a huge loss. That’s certainly more stressful than a job that’s you’d expect the same thing every day.

Justin:                   Yeah.

Ross:                     I can taper that up and be there for a little while and then I have to pull it back to a place where it’s just kind of like more of idling. For me idling is making 500 to 1000 a day, not being aggressive.

Justin:                   Yeah, most jobs you don’t go to work and think, oh I might lose $2000 today. Most people’s jobs, you don’t have the opportunity to lose money, but you also don’t have the opportunity for big gains. I appreciated my wife the other day, I had a bad day on Friday and she said, oh that’s no big deal you’ll make it up Monday. Sure enough Monday rolls around and I made almost all of it back, you know?

Ross:                     Yeah.

Justin:                   Most jobs you don’t have that opportunity to make it big.

Ross:                     Yeah, that’s definitely true. I think that was one of the things that inspired me as well is knowing that if I was moderately successful, I should be able chip out $200 a day from the market.

Justin:                   Yeah.

Ross:                     I should be able to do that. There should be an opportunity every day where I can capture $200, but you know what if I’m really good at this, I might be able capture $1000 a day, $2000 a day. I might have a day where I capture $15,000.

Justin:                   Right.

Ross:                     That’s potential. You start a job knowing that there’s a ladder. You don’t start a job knowing that this is the top and this is as high as I’ll ever get, most people wouldn’t. I know I wouldn’t be content with that.

Justin:                   Right.

Ross:                     You want to know that there’s future potential. With trading there is for sure. You can kind of take it as far as you want. Obviously some people have a natural aptitude, and you for sure, seem like one of those students because you’ve come in, you’ve gone through the classes, and you’ve jumped right into trading with real money and you’re generating the $1000 a week kind of baseline goal, which we sort have that as the baseline goal for a student anywhere from four to six months in because $1000 a week, is $52,000 a year, that’s the average household income. In two hours a day, you can’t complain about that, that’s fantastic.

Justin:                   Oh yeah. I’ve had days where I made more in 15 minutes then I would make … I mean real estate appraising, it’s pretty decent job and income, but I’ve made more in 15 minutes then I’ll make working the entire day.

Ross:                     Yeah.

Justin:                   Or working two days. It’s like, wow. You can’t beat it, you know?

Ross:                     Yeah.

Justin:                   And it also affords you time to go do … You know, I have this other business so that’s what I do in the afternoon, but if I didn’t, I could go play golf. I love fishing, so I could go fishing in the afternoon. It really, your free time is wonderful, I mean if you don’t choose to do another job or run a chat room or run a school.

Ross:                     Right. One of the things that I think for you and for any small business owner regardless of what that small business is, it diversifies your sources of income.

Justin:                   Right.

Ross:                     You don’t have to be 100% dependent on any one source and so as a trader, because a lot of the best traders have secondary sources of income, whether it’s their own business like what you have or a side hobby of photography or whatever it might be, it takes the pressure off of them that they need to make $10,000 this month trading.

Justin:                   Right.

Ross:                     And that changes the dynamic because you no longer feel that … When you don’t feel that pressure, you don’t feel that urgency to jump into trades, to be overly aggressive. It’s a real weight lifted off your shoulders.

Justin:                   Well it’s done the opposite for me. The trading is actually taken some of the weight off of my shoulders from my other business.

Ross:                     Sure.

Justin:                   So I’m not having to … Last summer I just about burnt myself out, you know real estate, the summer months are our biggest, busiest months and I just about killed myself turning work out to make a good income. With this, I can kind of slow that down a little bit so that I can go home at a decent time and hang out with my family. That’s what I’ve really enjoyed about it is, it’s kind of taken the pressure off of me at my other job.

Ross:                     Yeah.

Justin:                   Eventually I think I would like to, you know once I get more into trading and make that kind of a more of my career. Transition, I guess is what I’m trying to say, transition into more trading and doing less of the appraisal stuff. I have investment properties and stuff, I really like that a lot and it would allow me to do more stuff with that versus the appraisal stuff, yeah.

Ross:                     Yeah. I think that, that’s a great idea. The ability to say, right now if you have a bad day with trading, you can kind of say, well you know what, I’ve got my income coming in from the rental properties.

Justin:                   Right.

Ross:                     I’ve go some income coming in from the appraisals. It sort of just lessens the pressure on any one of those different sources of income.

Justin:                   Exactly.

Ross:                     It just brings the stress level down. They say that the average millionaire, I think, has six or seven different sources of income.

Justin:                   Yeah.

Ross:                     You’ve already got two or three, a couple at least and trading is another one. One of the things that a lot of our students are doing who are trading in IRA accounts, which is interesting, is they’ll trade in the IRA account with like a $30,000 account, and every time they get that account up to 50,000 or 60,000, they take out 10- or 15,000 and put it into longterm mutual funds.

Justin:                   Yeah.

Ross:                     So those longterm mutual funds become an additional avenue of revenue through the dividends. Now, you might not be drawing on that now, you know you wait until you can retire, but you can kind of put that aside knowing that every time you have a good month of trading, you put a little aside for longterm and then you keep working with this core amount to build it up so you can shave it away, put it away. Build it up and then put it away.

Justin:                   That’s kind of my plan right now is to keep doing what I’m doing with my real estate stuff, but then use this as a way to generate extra, basically retirement income. Then, like you said, once I get to a certain amount, pull it, [inaudible 00:19:10], put it in a mutual fund or something like that for the future.

Ross:                     Yeah. I think that’s a really good idea. Let’s see, now tell me about one of the things that was a struggle for you as you were getting started? Either through the classes or as you started trading.

Justin:                   Well, goodness, at the beginning everything was a struggle because I mean like I said, I didn’t know what a candlestick chart was, I didn’t know anything. I remember taken the first couple of classes and telling my dad, I was telling him about it and I said, I don’t know if I’m smart enough to do this, but I thought you know, I’m in it, let’s just keep doing it, and just buckle down and study, and it all finally started to make sense. I think that’s one thing that you need to stress is that, stick with it, don’t take the first two or three weeks as, well this is what it’s gonna be, this is as far as I’m gonna go, because at a certain point it all starts to click.

I’d say probably in the beginning finding the right entry points, I would try to follow what you were doing and I just wasn’t fast enough and I’d think, well I’m never gonna get this. You just really need to sit back at first and just absorb in everything and then eventually it all start … I couldn’t really even tell you the exact moment that it clicked, but it just all of a sudden one day I looked over and my stats were better and my profit/loss was better. I think it’s all about just absorbing the information. I also like what you’ve done here recently where you’re not allowing people to just copy, you know they need to learn how to come up with their own entry points and when they need to get in.

Ross:                     Yeah.

Justin:                   I think that’s a big help in the long run.

Ross:                     Yeah, I mean ultimately the goal is for all of our students to be self-sufficient. To learn from me, not just to follow me. One of the things that a lot of students struggle with though, is dialing in the right entry point.

Justin:                   Yeah.

Ross:                     I remember for me, when I was learning to trade, when I first was looking at charts, it’s like they just kind of looked like … I couldn’t see anything. I remember a day where I said out loud, I was like, I don’t see anything in this chart, I see nothing. I don’t see patterns, I don’t see … I just don’t see anything at all. Then eventually things started to come into focus more and more and more, and then I started to realize I had developed this eye for seeing the pattern, for seeing the pullback. It’s kind of like, you know when you do an appraisal, you walk into a house and I’m sure there’s things that you’re thinking. Is this floor level? Is there water damage? You’re able to scan the building through this lens that you had to really develop over time.

Justin:                   People hate when I come to their house because they think that I’m trying to pick out all the flaws in it.

Ross:                     Right.

Justin:                   They don’t want to have me over for dinner.

Ross:                     Right.

Justin:                   You’re right, that was one of the things I told myself when I was struggling with the trading at first, was when I first became an appraiser I didn’t know how to do everything, but over time it just sort of all fell together and now I can almost do one in my sleep. Of course, it’s been 16 or 17 years, but back when it started to click I could almost do it in my sleep now. Same with the trading, everything starts to build. First you might start to see the pattern, but you still don’t know … Then all of a sudden you start noticing price action and how that correlates what the candlesticks are doing and then volume. You [inaudible 00:23:41] okay, okay this is a big volume dump here, I might want to hop on into the pattern. It all kind of builds together.

Ross:                     Yeah.

Justin:                   To where all of a sudden it all comes together and makes sense and your eye can catch things in an instant, you know?

Ross:                     Yeah.

Justin:                   Does that make sense? I don’t know if I explained that.

Ross:                     Yeah, it’s like layering.

Justin:                   Right.

Ross:                     When we start with teaching, we start with the first layer of information and some of that might not make a lot of sense, but then as we build on layer, upon layer, upon layer, we start with candlestick formations and then how three candles together can form patterns, and then what some of those patterns look like, so now you understand patterns. Well, how do technical indicators play a role in whether these patterns work and then we overlay the technical indicators, and we’ll have this volume and then we overlay volume. By the end, we’ve overlaid 10 different data points and we’re able to see the full picture, but we had to start with something very small.

Justin:                   Right.

Ross:                     Just the candlestick.

Justin:                   Start with the basic.

Ross:                     Exactly, right. That’s the process of learning anything, but the reality with trading is that I think a lot of people they think, oh well trading the market, this is something I can do a little bit in my spare time, I can just jump into it. Then they jump in with real money not realizing the complexity of the market.

Justin:                   Yeah.

Ross:                     The reality is people much, much smarter than me have come into the market and have failed and loss money. It’s not about being super, super smart. It’s just about understanding that there’s rules and if you break those rules, you’re not going to make money, but if you follow the rules, you understand from number one, how to keep your losses really small, number two, how to find stocks with the likelihood to move 15-, 20-, or 30% in one day. You’re positioning yourself to be successful. Once you have that down, you’ve done the heavy lifting, you’ve done the hard part.

Justin:                   One thing after going through the course that I’ve thought a lot about is the people. It’s no wonder that they say 90% of traders fail because so many people get a little bit of extra money and they dump it in the market with no idea. The thousands of stocks that are out there, well how do you pick? Well, I’ll just randomly pick. I traded Apple yesterday, well a lot of people would just through money into Apple just because they like Apple. Well there was a reason I traded Apple yesterday, it had made some moves and it was at some resistance and support. If you don’t know anything about any of that stuff and you just throw money in there, you’re gambling at that point. Everybody wants to say trading is gambling, that is gambling.

Ross:                     Yeah.

Justin:                   When you do it from a standpoint of, well I know this, this, this, and this about the stock. Heres the resistance points. It’s made these moves, and when it gets to this certain point it usually drops. They don’t know, okay I’m also gonna watch what is the S&P 500 doing, plus/negative ticks. Of course, I never knew any of that stuff until a few months ago.

Ross:                     Yeah.

Justin:                   But that’s why I think so many people fail, is they don’t follow the rules and they just throw their the money out there and hope that they’re gonna hit a home run and they don’t. You might, you might get lucky.

Ross:                     Yeah, but that doesn’t work.

Justin:                   That’s all it is.

Ross:                     It doesn’t work with anything else. Would you buy a $50,000 home to try to turn it into an investment property without knowing the region, the location, the stats on the building, the condition of the building?

Justin:                   Right.

Ross:                     Yeah, you might get lucky, maybe you’d get lucky. Maybe you buy something and it appreciates, but odds are you won’t, you’ll lose money.

Justin:                   Yeah, you’ll lose money.

Ross:                     It shouldn’t be a surprise.

Justin:                   And if you don’t go into that house prepared knowing how much you’re gonna need to spend? How much this is gonna cost to fix?

Ross:                     Yeah.

Justin:                   You end up upside down in it and losing money on it and it’s the same with the stock market. Yeah, you can do it part-time, you can trade part-time, but the preparation and everything, that’s nonstop. That’s every single day. Every evening going through some stuff. Every morning going through the gappers, up or down. What’s moving? It’s a lot of preparation. Sometimes you’ve put in an hour or two hours worth of preparation for a 15 minutes trade.

Ross:                     Right.

Well, when you get that winner, it’s worth it.

Justin:                   It’s worth every second.

Ross:                     And that’s the thing because it’s like with trading, I might only spend 15 minutes of the day actually in the market and the rest of the day is preparing, you know?

Justin:                   Yeah.

Ross:                     Looking for setups. Seeing a couple that have potential. Understanding my risk on those ones and putting the pieces together. If I find a really good one, usually the trade is fairly short, 10-, 15-, 20 minutes, 30 minutes maybe at most. All that work in the morning, was to prepare for that moment where I could jump in and-

Justin:                   Then it’s game time.

Ross:                     Yeah, game time. What is your strategy that you’re focusing on right now? Are you trading mostly reversals?

Justin:                   Yeah, mostly reversals and then just recently trading some earning plays and stuff like that, but I started off focusing mainly on the momentum and the gap and go. I was doing okay with it, but then I thought, well I’m gonna try this other strategy as well. I just kind of over time, I can’t even tell you when it was, it was I kind of morphed over into trading reversals. I noticed I could spot the reversals a little better. I just naturally was drawn to that I guess.

Ross:                     Yeah.

Justin:                   I noticed my winning percentage going up and it just seemed easier for me, just my trading, my mentality I guess. I was able to do a little more research. It wasn’t quite, you got to react right this second.

Ross:                     Right.

Justin:                   I could sit back and analyze things a little bit and then make a decision.

Ross:                     Yeah.

Justin:                   I still do some gap and go, and momentum stuff when it’s really obvious to me.

Ross:                     Right.

Justin:                   But I typically will focus on reversals and stuff like that.

Ross:                     You know it’s funny because I’ll sometimes say that I should really start swing trading. I should start swing trading. My money’s doing nothing overnight. I think I should start trading options. Jeff is doing such a great job with options.

Justin:                   Yeah.

Ross:                     But the reality is, you gravitate towards what you’re comfortable with and that’s going to be whatever it is. You don’t know for sure, but as a beginner trader we kind of present you with these two strategies that 90% of our students will fall into one of the two. One is the reversal strategy where you look for stocks that are really weak to buy them or really strong to short them. Then the other is momentum. That stock today on OMER, there was some news on it. All of a sudden it spiked from 18 up to 19 and then it faded all the way back to 18.

Justin:                   Yeah.

Ross:                     Then the traders shorted on that spike because they’re like, look it’s so extended. Then momentum traders would come in and say well look, it obviously had strength, it’s consolidating, I’m gonna buy it as it curls up and they could have got in at 18.50 and rode that momentum up to 20. Reversal traders see it hitting 20, they look for the short, ride back down towards 19.

Justin:                   Yeah.

Ross:                     You can trade both sides, but most traders kind of like being a lefty or a righty, will naturally gravitate towards one strategy or the other. Either momentum or reversals. Then that becomes your wheelhouse. If you’re making 500 a day or 1000 a day, with that strategy, with low stress, then you usually don’t feel out of motivation to try to add a second strategy because you know if you add one you’re going to increase your risk. You take on more risk the more you trade.

Justin:                   Yeah.

Ross:                     If you can get into the market, capture $500 bucks and get out every day consistently, you’re doing it, don’t change a thing.

Justin:                   That’s what I’ve noticed about myself too, is when I was still in the simulator I tried to trade as much as possible just to get the reps in, but when I went live, I would trade in the morning and if I hit my goal, I would shut it down. I might only take one, two trades, whereas before I was taking five to ten trades a day. There’s no worse feeling than to make $1000 in one trade and then 15 minutes later get into a trade and lose all but $100 bucks of it. So here I’m $100 for the day, but you were over $1000, you know?

Ross:                     Yeah, I know.

Justin:                   That’s just a gut wrench.

Ross:                     They say that it’s better to have loved and lost then never have loved at all.

Justin:                   Yeah.

Ross:                     That’s not true with trading. It’s better to have never made the money at all then to make money and lose it because it’s so devastating.

Justin:                   Then you wouldn’t agonize all day.

Ross:                     You do, exactly. You’re like I had the daily goal, why did I give it back? Why did I do that? That’s what trains you to take the profit at the end of the first hour, whatever it is. I know some of our students, they’re in different phases of life, they don’t have a second job. They don’t have a business and so they finish trading at 10:30 and they’re like, okay well what do I do? Well I’ll just watch the market, but I won’t trade. I don’t have anything else to do, so I’ll just watch it, but then you know they end up trading. That’s really the benefit of having that structure where, for you, when you finish trading you’ve got to go check in and you’ve got your other work to do. Whether it was a good day or a bad day, you put that part of your day behind you at 10:30, 11:00, whatever it is.

Justin:                   You’re forced to move on.

Ross:                     Exactly. That’s really important because a lot of traders, they struggle with that and on a day where you lose money, there’s that desire to kind of revenge and get it back, that can get you into a lot of trouble. I mean it has for me.

Justin:                   I’ve had that where you get that revenge where you lose a lot and you think, okay I’m gonna get back in there and I can make this back, and then you almost always end up losing more money.

Ross:                     I know, right, yeah.

Justin:                   And so, I’ve just gotten now where it’s like, okay today was a bad day, move on, Monday … Like I said Friday wasn’t very great for me, just throw it away, come back Monday, it’s a brand new day. It’s really helped me out just trying to have that mentality of, okay well you didn’t do it today, but there’s always tomorrow.

Ross:                     Right, yeah, yeah. That’s 100% right. What are a couple of pieces of advice you would give to a trader who’s just kind of getting in or in their first couple of weeks, and they are like, I think I just want to tap out, it’s too much?

Justin:                   I would say, if you’re in the course, you’ve already paid for the course, so don’t give up after … You know when you’re in the simulator and you are losing money because you’re not able to figure it out, just stick with it, nonstop study. If you’re not in the market doing the simulator and practicing, go back. The courses are online, go back and retake them over. I think after I went through the course … When I got in they were recorded.

Ross:                     Yeah.

Justin:                   And so I went through and I watched and did my homework and everything. Then when you did the last round of live classes, I sat through all of those for a second round just because you absorb different things that you didn’t pick up the first time, and then just read, any book. I’ve read your book two or three times, and then you’ve recommended different books, go read all the books. Any ideas or strategies or anything that you can take from, I say just never stop learning.

Ross:                     Fully immerse yourself.

Justin:                   The other thing I’d say, well two quick things. Treat the simulator like it’s real because that’s what I had to do. When I first came in, I thought this is real money and I’m gonna treat it like it because if you’re out there and you’re buying 40,000 shares of something and you made … Who cares?

Ross:                     Right.

Justin:                   You’re not going to do that in real life, so treat it like it’s real. Then when you get to the point that you are going live, it won’t be as big of a deal because you’ve been training this whole time like that was real money.

Ross:                     Yeah.

Justin:                   Then also I’d say, if you can afford it, I know some people can’t afford when they’re training and they’re not making it, they’re in the simulator and they’re not making any real money yet, some of these other expenses can add up, but if you can go ahead and get your own subscription to the Trade Ideas. Get some good charting. Train on the tools that you’re gonna use when you do go live.

Ross:                     Yeah.

Justin:                   Because then when you go live, you’re just doing the same thing you’re doing every day.

Ross:                     Yeah.

Justin:                   Yeah, and I will say too, that was part of when I turned around is when I started buying my own tools, subscribing, you know. What I would do is I got my own Trade Ideas subscription and then I would try to find which gappers I thought were gonna work. Then I would match them up, and then you would come on in the morning, I would try to match, okay now was I thinking the same thing Ross was thinking? But you can’t do that if you’re trying to … You’re very generous to share all that in the mornings, but if you’re gonna do this for real, you know?

Ross:                     Yeah, you got to get the right tools.

Justin:                   You got to have the tools to do it and you got to treat it like it’s a real job or a career because it is.

Ross:                     Yeah.

Justin:                   It’s a business.

Ross:                     Yeah, yeah I mean that’s exactly right. Those are really good solid pieces of advice. Yeah, I think those are good. What I think we’ll do is wrap it up and we’ll plan to check in again with you a little ways down the road and kind of see where you’re at and give students Justin’s update. All right?

Justin:                   That sounds great, I’ll be here.

Ross:                     Okay, all right, awesome. Thanks so much for hanging out.

Justin:                   Thanks Ross, I appreciate it.

Ross:                     Okay, all right.

Justin:                   Thanks for all you’ve done for me.

Ross:                     Sure thing. All right, I’ll see you soon.

Justin:                   All right, bye.

Ross:                     Okay.

All right, so I’ll stop that video.

Justin:                   Okay.

Ross:                     Now, on a …

Oh hey, I didn’t see you there. Why I was just working on the dream board for my next home run trade, hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.