Wall Street Trader Reveals How to make Trading a Career

nobody wants to do the work for themselves everyone wants the Magic Bullet oh give me the strategies give me this give me all the advice I need point and click on my mouse it's like no you gotta go and go through the Journey yourself and figure out on your own I want to ask you more about just how you're able to keep such a high level of performance because I know it has to be taxing and not only that but like what do you do to maintain it too right not only reach it but like maintain it yep yep and it's it's like I often tweet about like James Clear always says a lot about this stuff like everything in life is a trade-off everything has an opportunity cost the time you spend on trading you're not spending elsewhere and so even we were talking about my time in Princeton when I first started and right so while everyone was in the city or like you know I could have gotten a job that was like 60k 80k 100k out of out of school and instead you take this 26k a year job and you're in Princeton and you you're sacrificing all this social life you're kind of living like a small town you don't have any friends out there and for me it was just like this one-track mind where I just knew like this is this is all I care about I see what this could be in the future I see what this could mean to my life and like I I love this I'm passionate about it I really find it intellectually engaging and so so many people like everybody wants to succeed but it's like and they went across like exactly could have made the 60 to 80 100 nobody wants to do the work for themselves everyone wants the Magic Bullet oh give me the strategies give me this give me all the advice I need point and click on my mouse and it's like no you gotta go and go through the Journey yourself and figure out on your own and um the cost of this stuff is is just immense like especially at the years when I was trying to just reach Peak Performance like we were talking about sleep and so during a normal week right I was so regimented so so regimented I would wake up at the same exact time I would shower go to work at the same exact time I would work out at the same time and then even going to bed I wasn't going out really during the week right whereas most people would would go out with friends or like have have like this this social life going out drinking happy hours for me it was like after work you do the review you're putting the time in you go to the gym you eat dinner then okay it's it's meditation it's the the warm down for bed send out like my evening review and everything and this went on most people can sustain it for like weeks or they do a couple months and they burn out right I was doing this for years and years and years and and it was just like I mean the number of Sundays I went in at least probably for for five years straight of just look unless I was traveling or had something I was I was in there and people asked like oh how did you get that good how do you do all those things and it's like I did I paid the dues that nobody else was willing to pay and that stuff just compounds right and how do you learn to like to do like you you weren't just like okay I'm gonna do all of this on day one like or did you kind of like acquire that knowledge and start to add stuff to your regimen you know what I'm saying how did you get all that knowledge or did you already know and so I think yeah I think a lot of that goes back to the meta learning right and um a lot of stuff that we take is obvious today just really wasn't so obvious over a decade ago right like even for sports performance or any type of performance like now there's sleep wearables and people are tracking their sleep now people know meditation can help focus and like help emotional control people know uh what working out can do for you mentally as well and so there's all these things um like getting reps in like like the concepts and talent is overrated [Music] um back back in say say 2010 2011 that stuff wasn't so obvious as it is now it wasn't mainstream yeah and so a lot of it was was just me just reading reading reading and trying to learn and apply and um there there was no there was no rulebook for how you do this in the in the trading World there was no rule book for how do you simulate reps and build up these databases but it was just me just taking these Concepts and thinking like how can I apply this so that I can learn faster or better and everything hey we wouldn't be able to do these face-to-face interviews if it wasn't for our sponsor Cobra trading so if you can just give them a few seconds of your time we'd really appreciate it Cobra trading is the go-to broker for day Traders and short Sellers and I'm not the only one saying this in fact benzinga awarded Cobra trading as the go-to broker for short selling they have a heavy focus on Direct Market access order routing so you have the fastest execution they have some of the best locate prices and availability they also have amazing customer service I've experienced many different Brokers and it's why I use them every single day and why I'm proud to have them as our sponsor sign up now by clicking the be the train a referral link below and earn one free month of software with Cobra and 25 off all commissions now let's get back to the show a lot of times people look for a right answer or but sometimes they're just there is no known answer to things and like people will say like what strategy should I be trading or on this sized account how much how much should I be risking or how long do I need to give trading and you just can't speak in these generalities because it's so many things are so individual like people don't learn the same way and like like I once even tweeted about over trading and when we go back to training psychology and everything a lot of times there just isn't one answer because not everyone's over trading for the same reason some people are over trading because they're just bored and want entertainment some people are over trading because they don't know what their Edge is some people don't have their setups that are defined some people are over trading uh because they think they need to clear their expenses every single you know every single day you need to make x amount or else they're not going to make it and you can't try to give one answer when it's not one problem right it's so um it's so specific to the person well I want to know like you know you had you did this for five years or even more of just constant like waking up at a certain time going to bed a certain time getting the right amount of sleep eating the right kind of foods working out meditating did you ever slip and when you slip like how did you treat like did you just like get right back on course like the next day like because I'm sure someone out there is probably doing it right they're doing something like this yeah maybe but maybe they you know slip and they just oh well I'm not gonna be able to do it like did that ever happen totally yeah I mean I was definitely human about it like for sure I would definitely have times where you're just demotivated or you're just down on yourself you're just totally totally burnt out so one thing that I think most people are rising up to over the last couple years especially given kovid that again this stuff just wasn't knowledge yeah a decade ago and I think people are really really smart about burnout and I'm not saying all the work I was doing was even optimal right there were probably days where I should have just been calling it quits and there were days where I'd be sleep deprived or tired or hungover or sick and I mean take sickness right like nowadays everybody knows hey if you're sick you're not gonna perform well just don't show up but like I would say over the majority of my career so much of of trading was this like machismo where it's like don't don't be a puss like if if you're stuck you you go to work and you still work hard if you're tired guess what show up and still work hard and you would do things that like at face value it's like oh I I am gritty I am determined I I'm not willing to just tap out just because I'm tired but then you're like wait a second like this is this is counterproductive at this point and and now everyone's accepting that it's true but that's kind of like the evolution of how being a Trader has has changed even in those ways you mentioned psychology just a while ago and I know prior to us recording and meeting each other you mentioned when I was coming out here fly out and meet you that you had a meeting with your psych uh coach yep so tell me about that like I mean you're at such a high level right and why do you still do that like or did you do that since the beginning and why is it so important to you yep so why might someone have a training psychologist I think first of all for many reasons right maybe there's some training specific obstacles and hurdles they can't get over um maybe uh trading is giving them stress or anxiety or it's affecting their interpersonal uh relationships maybe Traders are having issues with fomo are going on tilt or being hyper competitive um or or you're in a slump and you and you have a case of the yeps or you just can't get back at it so I think there's a lot of reasons why someone might use one yeah um for me it was a lot about really just it started off as just office optimization right like what do I what kind of culture do I want to build what are the principles how can I convey the right things to build an office of just Elite Performance yep how can I optimize that environment and I think a lot of people might start working with psychologists for reasons like that especially a training psychologist but then I think a lot of psychology eventually goes towards your self-actualization and you start to explore what am I looking to get out of trading what am I looking to get out of life what am I looking to get out of my relationships how can I just be a better person that will all make me a better Trader as well and and so really I started using him to to explore just the optimal office environment and how to manage people and train people hiring procedures interview questions and that evolved into the the better question of what am I looking for out of life and so we still meet even though I'm not actively trading and we explore like like the thing things I do with philanthropy the things I look do with with giving back and helping Traders and like I think most people especially as he would say you have almost this Evolution where initially you're you're in it for for like the fame and fortune maybe not the fame but at least at least to make money and make a living out of it and then people realize that like trading is a microcosm just for life and self-improvement and how can we always strive to be better and adapt over time and like you need discipline you need to find happiness in the process and you need all these really great psychological analogies which just just help you better for life like I think if you can crush it as a Trader and explore all those steps of yourself yep you put that really good Trader at most other jobs and they're probably going to be able to systemize it and break that down as well dude every time man every time we got it I love this I love it thank you so much for being a fan of the show and watching to the end to give back to you all this month I actually reach out to Falcon trading and we're gonna do multiple giveaways this month here's what we're doing we're going to give away a computer we're going to give away a docking station which basically turns your laptop into a computer station a monitor mount that holds multiple monitors so for those who have the dream of having that massive monitor station we got you covered and multiple hundred dollar gift cards to Lucky winners all you have to do click the link below it'll show all the details of the 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Channel: B The Trader

Views: 459,210

Keywords: day trading for beginners, day trading strategies, learn to day trade, beginner trading stocks, stock market for beginners, how to trade penny stocks, how to trade penny stocks for beginners, how to make money trading stocks online, day trading for dummies, day trading tips, day trading tips for beginners, learn to trade penny stocks, learn to trade stocks, learn how to day trade penny stocks, bthetrader, b the trader, b the story, btherstory, live trader, trader, stock trader

Id: 2zKkThlp0Ys

Length: 11min 19sec (679 seconds)

Published: Mon Dec 26 2022