I recently came across an article on CNBC that sparked a topic that doesn’t get talked about enough. Perhaps you are well aware of day trader geography, but oftentimes it’s one of those concepts that hides in plain sight. The best way to find success as a day trader (or really any kind of trader/investor for that matter) is to ensure your expectations are aligned as closely as possible with reality. A key component in this task of aligning expectations and reality is understanding day trader geography. I suppose this concept could lead you to taking drastic measures, but it doesn’t necessarily have to. I simply want to challenge you to stay realistic with your expectations as a trader. Let’s get to it!
--------
10:52
--------
10:52
Calendar Critical Thinking... | STR 535
“Today” (the day I recorded this episode) I was reminded of how I need to do a better job of deploying my critical thinking skills around the economic calendar. Thankfully the trade I was in turned out really well, but wow, the opposite could have just as easily been true. I know I’ve talked about the economic calendar before on the podcast; however, the lesson I was reminded of “today” is certainly one worth offering up to you as a reminder. Hopefully none of this is coming across as overly dramatic as that’s not my intent. None of this is rocket science, but it does require a bit of thinking on our parts. Let me walk you through this experience and what it can teach/remind us of as active traders in the market.
--------
11:56
--------
11:56
A Basic Way to Get Better...| STR 533
My YouTube live streams continue to deliver these podcast episode ideas! This past week I had a few interactions that, once again, reminded me of how some people could better themselves as a trader by doing one simple thing. To be fair, I suppose it is not the simplest thing to do, but again, to be fair, it’s also not in the realm of reasonableness to say this thing is impossible to do. I admit I probably get more frustrated than I should when I encounter these situations, but I can’t stand watching someone make their life harder than it needs to be. I don’t think I’ll be saying anything ground breaking in this episode, but I do think some people (including myself at times) underestimate the far reaching issues. Let’s talk about it!
--------
13:17
--------
13:17
The Trump Tweet. How to Survive! | STR 532
The Trump Tweet. We’re all aware as traders by now how a single press of a button can send the markets into full blow roller coaster mode. We’re also aware of how a press conference about a certain topic can contain an off the cuff remark that, once again, sends the market into full blown roller coaster mode. I’ve been asked enough now the same general question where it makes sense to address it via a podcast. The question goes something like this, “Hey Clay, how do you navigate and manage this type of market where in the blink of an eye, everything goes crazy?!?!”. This is what I have been doing and will certainly continue to do. In fact, I will go as far as arguing that you are absolutely playing with fire if you aren’t doing what I do.
--------
16:32
--------
16:32
Will AI Destroy the Markets and Trading? | STR 531
More and more people are asking about AI and what I think the effects it will have on the markets. It’s not a crazy question at all. Is AI something that is going to wreck the markets and destroy everything we know as traders? Are we going to be eaten alive by its vast intelligence and ability to think way quicker than we are? The core of the question is this: will there be any room for human traders, or are we going to become instinct? Let me give you my thoughts. Spoiler alert, it’s a very simple reply due to some of the simple tools available to all of us in the trading world. Let’s not overcomplicate this folks!
Let's talk all things trading! No hype. No nonsense. Just a brutal look at the world of trading and what it takes to find success. Hear the ups and downs of trader's journey and the realistic side of what it takes to find consistency and profit.
Ireland