What you need to know about trading, with Adrian Reid

I'm so excited to bring this long overdue episode to you, where I chat with Adrian Reid, founder and CEO of Enlightened Stock Trading. If you've been here for a while, you probably know that Adrian is also my mentor and trading coach.

We chat about a lot of different topics, and demystify and debunk a lot of the misconceptions, beliefs and myths about trading.

Here are just a few things we talk about:

* What trading really is and how to know if it's for you

* The difference between trading and investing the different types of trading strategies

* Why the trading industry is full of scams, particularly around day trading and forex trading

* What to look out for so you know who to trust how to win long term as a trader and become wildly profitable

Adrian and his company Enlightened Stock Trading have two programs to check out:

For beginners: The System Trader Launchpad 

For advanced or intermediate (or for those that are beginners and are 100% all in): The Trader Success System

xo
Simone

P.S. I am an affiliate for Adrian's programs - so when you use the link to sign up to his programs above, send me a DM on instagram to get your free bonus bundle. This includes a behind the scenes of my trading, AND my trading tracker (something you will literally use every day as a trader to record and track trades).

Listen in here, and where you get your podcasts:

Prefer to read the transcript?

Speaker 1:           [inaudible]

Speaker 2:           You're here because you want more out of life, more money, pleasure, flow, freedom, luxury. He, uh, we are all about an unwavering Southwest and a net with you. Love to talk about. My name is Simone Mercer-Huggins. I'm your resident unapologetic wealth queen. So far I've built seven figures from the ground up. And these community is now doing the same. The Ms. Wealthy movement is here to help you be more of the bad-ass [00:00:30] queen. You were born to be so tune in for everything, investing money, energetics, millionaire, mindsets, and everything in between. If you want to be a powerful player in the money game, in the right place. Welcome to the kiss, my money podcast.

Speaker 1:           Sure.

Speaker 2:           Welcome back to the kiss, my money podcast. I am your host, Simone Mercer-Huggins, and today's episode. I have a guest with me [00:01:00] that is long overdue. He is my trading coach and mentor, but he's also a kind of a life mentor too. He's the guy that introduced me to Tony Robbins. When I first hadn't heard of him about seven or eight years ago. And he also was a mentor just in terms of money and wealth accumulation and mindset and business. And so you're going to really love this app. Now we talk about a lot of things, demystifying and debunking, a lot of the [00:01:30] myths that exist around trading. And also it's going to be really enlightening for you to see what to look for when it comes to learning to trade or trading programs. Because unfortunately there are a lot of scams and untrustworthy people out there and Adrian breaks down some things to look for.

Speaker 2:           And we also talk about other things that you might not know about, or haven't heard of before. [00:02:00] Now, I do need to say before I get into this episode, that you do not need to become a trader. If you want to build wealth, it's not a requirement. I love it obviously. And a lot of people that have joined investing group Kim have gone on to also become a trader, but it's not necessary. So if you have been thinking of it or if you're unsure, if it's for you, this episode is going to be amazing to shed some light on that. And of course, if you have any questions [00:02:30] about it or what is right, then you can always reach out to me and DM me on Instagram. And I've also put the notes in the show notes of the links to get access, to find out more about Adrian's programs. Um, I highly recommend them. They, uh, you know, what has shaped my journey to get to where I am. And I have members in investing boot camp that have gone on to do them as well. And I've seen them become traders, literally the space of [00:03:00] just a couple of months. So tune in, enjoy, and I will see you on the other side, Adrian, welcome to the show. How have you not done this sooner? I don't know, but I've been really, really

Speaker 3:           Looking forward to it sometimes. So thanks so much for having me. And, uh, yeah, let's go look.

Speaker 2:           Well, I'm excited. So most people, if they've been, you know, in the Ms welfare movement, if they've been listening to the kiss, my money podcast for a bit, they probably have heard me [00:03:30] mention you or talk about you particularly in reference to trading. But I was hoping you could kind of do a little bit of an intro into, obviously you're the founder and CEO, Overland instruct trading. I started my journey in trading. Um, I was actually coming up to seven years ago. I found like one of the, our first emails. Oh, wow, cool. Yeah, it was really looking at some of the questions I was asking you. It's like, wow, I didn't know that [00:04:00] that's so good. Isn't it

Speaker 3:           Seeing the progression of questions? Um, as someone grows and evolves, you know, there's the, um, a great quote by Tony Robbins. He uses it all the time. Um, the quality of your life is determined by the quality of your questions and what I, what I love seeing in teaching finance trading particularly obviously is how people's questions evolve over the journey from the very beginning, you know, those timid [00:04:30] first couple of questions to, um, you know, they're really sort of advanced sophisticated stuff. And that kind of blew my mind. It's like,

Speaker 2:           Wow, you got there already. That's so awesome.

Speaker 3:           You know, I, I just love seeing that evolution so good.

Speaker 2:           So what I consistently hear, particularly from women who had no, nothing about investing, you know, completely beginner had the same journey as I did. Like, I don't know what the now Dell Jones is. I don't know what the NASDAQ is like, what does that even mean to then go [00:05:00] on and become a trader after they've, you know, deciding decided that I've got an investment portfolio and they want to learn more. And just the thing that they consistently say is like, I didn't ever think that would be me. I didn't ever think that I could ever become a trader. Like I didn't identify or even think that was in the, the world of possibilities. And it's so amazing to see that progression. It's just, it's so rewarding.

Speaker 3:           Yeah, absolutely. And, uh, people self-concept really [00:05:30] does put a lead or a cap on what they can achieve. And I think one of the big things about trading or investing or money in general is, um, when we don't, you know, we, we don't have the right psychology around money. We don't have the vision of ourselves as successful at managing our money. Um, it becomes so fulfilling. And, you know, I know you covered this in a lot, in a lot of depth in your programs and other episodes and so on. So, um, [00:06:00] I, I think it's really important to have some aspiration to improve your S your, your sort of self concepts of image around money and work on that, but also start having some big dreams about what life could be like with more abundance, because it's only by having those dreams that will be driven to do the learning, do the work, do the things that required to get there, because without a big dream, you know, we just Bumble along doing what we're doing. Cause [00:06:30] there's nothing to drive us and lift us. Right.

Speaker 2:           Yeah. A hundred percent. It's so funny that you just brought that up. I literally just wrapped up one of the first master classes that are going inside investing bootcamp this year, which is Epic wealth goals masterclass, because you're right. Most people kind of do live on older pilot and it's not a judgment. It's just, it's genuinely how society is set up and without thinking necessarily about, wow, what do I actually want? And what do I actually want to go off [00:07:00] to?

Speaker 3:           Oh, for sure. For sure. We have this thing in our house, my wife and I, um, we, we wrote, uh, after again, after Tony Robbins seminar, I'm a bit of a fan just in case you haven't noticed. Um, uh, we, we, we wrote our, um, a dream life statement, which is a very rich, full description of what our amazing life looks like. Not as it currently is, but as we aspire for it to be, um, in all facets of life [00:07:30] and, and having that vision and that clarity about what you want life to be is an amazing, uh, enabler of all of this. Because if I want that life, then I have to be the sort of person that can create that. And if I'm going to be that sort of person, then I need to, you know, I need to learn certain skills and I need to be able to do certain things. And so then I need to go in and do certain courses or certain learning or read certain books. And it [00:08:00] basically creates all of the activity that is required to have that amazing life. Yeah, absolutely.

Speaker 2:           Yeah. I love that. And what kind of mindset, just to your point before, what kind of mindset do I need to have? Like what, what is the mindset of a multimillionaire and what, uh, what, where's the gap?

Speaker 3:           Oh, for sure. Yeah. Yes, absolutely. Now there's one other piece, which is really, really interesting. Um, and that's, when you talk about investing or trading and trading, particularly, um, there's certain [00:08:30] preconceived ideas that come up in people's mind that tend to either block or enable them from becoming that. And if I, if I talked to a lot of people who aren't stock traders or traders in general, um, they might get images of, you know, some of those scenes on movies, like the Wolf of wall street, which are just disgusting, you know, awful people driven by greed, um, ripping people off, doing harm to society, just to make [00:09:00] themselves rich and that sort of thing. And it's a movie like it's a fictitious image. I mean maybe yes, there's probably are some people like that out there, but if you have an image of something that is negative like that, you're not going to want to go and be that.

Speaker 3:           Yeah. And so I think it's really important. A lot of people will dismiss trading stocks or trading or even investing because they don't want to be that person, you know, that [00:09:30] in inverted commas, right. Be that girl, that money hungry, that greedy that's selfish, that, you know, ostentatious, um, all of those things. Um, but that's just in the movies, you know, and if we can get past that fake image that they use, that Hollywood uses to, um, to sell movies and figure out or share what it's really about, which is actually a really fairly sedate, mundane, very calm. [00:10:00] There's no screaming down the phones at your stockbroker. There's, you know, there's no highest, well, there shouldn't be high stress and freaking out and, you know, exploding relationships and all of those things done, right. It is seriously just a dead, simple process to follow each day that ultimately cranks out wealth.

Speaker 2:           Yeah, absolutely. My God, I have so many topics that I want to go on, tend to zone in that as it's also, [00:10:30] so on-point because I have very specific notes that you just touched on, but I want to go back to, when did you start in line and start trading and how did that kind of start with you? I mean, I know the journey for you in terms of you were a trader on the side and you worked in corporate and then you were just like, what am I doing? I'm just going to go and become a full-time stock trader, like, um, and by full-time, I don't mean like literally sitting at your screen all day, [00:11:00] um, you know, as, you know, 30 minutes at the end of the day, but, and I remember when my husband told me about you, and obviously I'd met you a couple of times previously throughout the years with you working with him previous. And he was like, Oh yeah, he left corporate. He just went and just decided to go and trade. And I was like, is that a thing? Yeah. And that's kind of how, you know, after I'd [00:11:30] become an investor for a bit. And I was like, I want to know more. I want to dive in, you know, how do I explore more of this world? And that's how our chat started, but how did it start for you in terms of starting in Latin instruct trading? Because you obviously had a really good gig, you can just trade and be perfectly fine and go on sabbaticals and travel around the world. So why did you start the company anyway? Good question. Um,

Speaker 3:           I think it's really important because, uh, a lot of people assume, Oh, you know, you can support [00:12:00] yourself. You're free. Um, you just go on holidays, but, um, life needs purpose, you know, and there's only so many cocktails and stuff. You can drink him before you start putting on weight and getting unhealthy and, and, uh, feeling like what's the point in all of this? Not that I did much of that mind you, but you know, as human beings we need purpose. Yeah. And what I found was, um, when I had my corporate career, that was very, uh, [00:12:30] all-consuming for me. And it took up a lot of my mental energy and, um, you know, most of my time, um, I worked like a crazy demon. Um, most of my working like corporate work when I, and when I, um, um, got to the point where my trading income exceeded my corporate earnings, I had to look at myself at the end of the year until it w yeah, like you said, what am I, what am I doing?

Speaker 3:           And, um, [00:13:00] so I stepped out to, to trade and spend more time with the family and basically became a stay-at-home dad and, uh, did my trading each day. And, um, you know, continued to support ourselves like that. Um, but what was interesting was being free was amazing. My stress levels dropped, um, got much healthier, got fit. I got time with the kids, got time with the family. Um, but I did find that something was missing. You know, I didn't have purpose apart [00:13:30] from home and family. Um, I also found that I didn't have many people to talk to about my trading because, um, a lot of people will sit at home and think, okay, I should do, I should, I should invest. Or I should do something with my money or whatever, but don't necessarily know what to do. And don't have anyone to talk to about it.

Speaker 3:           Like, money is a bit of a lonely subject. And I was at home just doing trading. All of my friends were working. None of them traded, I didn't know any traders. I basically learned [00:14:00] myself from reading hundreds of books and attending a bunch of courses. So it was pretty lonely, um, that combined with feeling purposeless and having a bunch of friends who were working saying, how on earth did you do that? Can you teach me? It's like, huh, purpose sort of fell in my lap. It's like, Oh, I'm lonely. I don't have anyone to talk to about trading. Um, I don't have a purpose and there's all these people saying, Hey, can you show me? [00:14:30] And so I started and I started, um, teaching, uh, some friends or colleagues and, um, just basically meeting up with them and saying, okay, here are some steps. And this is how I did it.

Speaker 3:           And this is the process I went through. But I found that I was, I was giving a lot, right. I spent hours and I prepare, I, you know, do presentations. I do work with them and so on, but I was doing it for free just for my social contact and my social, [00:15:00] my sanity. Um, and, um, I, I pretty soon realized that if, if I do it for free and I just, I was pushing it at these people rather than them having the desire to really learn and dig in and the skin in the game. And so after doing that for, for six or 12 months, I realized that actually, this is, this needs to be a business because it needs to serve people who want to be served, who need [00:15:30] these skills, who want these skills, who have a drive to improve their financial situation in life.

Speaker 3:           And, and it was at that point, it was probably about nine to 12 months after I started informally teaching people that I realized that this was my kind of my calling, like, you know, and it was, it needed to be turned to a business to make it self-sustaining. And, um, and that's when I started, uh, uh, teaching formally developing, you know, the process and the products, um, the process I took you [00:16:00] through, which then later came to a, um, you know, a series of online programs and so on, which my students, and now I'm doing. Um, so yeah, it was really born out of all of that and, um, wanting a community of, of traders to talk, to engage with and support and have them support each other. Because I, it took me three intense years to learn how to make money in the markets, because I was literally on my own. And I didn't, [00:16:30] you know, when I was explaining it to people who were wanting to learn after I left the corporate world, I didn't want them to have to go through that difficulty. I wanted them to have a community and people like an ask and, and support and, um, you know, a crowd of people cheering them on and those sorts of things. So, and that's basically what I've created, you know?

Speaker 2:           Yeah, yeah, exactly. I think it's so important to also know that because there seems to be, well, certainly what I've seen and I'm sure you probably [00:17:00] say it more, cause you're more in what you're obviously more in the trading space and I'm more in the investing space, but I see time and time again, this idea, and it's, it's not unfounded because it is, there's definitely some significant truth to it that all of the scams and people that teach trading out, they're actually just making money off the program or, you know, the commissions and all that sort of stuff. And not [00:17:30] because they're actually good traders. And so that is probably also one of your biggest pain points to cut through that. A there's definitely truth to it because there is a lot of that going around and B you are actually authentic. You have done it successfully. You don't have to have this program and teach people. It's a choice. It's not how you actually make money. Do you find that really frustrating, that kind of [00:18:00] mentality, but also truth.

Speaker 3:           Yes. Um, and look, you're right. There absolutely is a large amount of truth to it, but let me, let me just point this out. Have you ever been to a doctor and walked away thinking? I really don't think he knew what he was.

Speaker 2:           Oh my gosh. Yes.

Speaker 3:           You know what? I want a second opinion. And after the second opinion, I want a third opinion. [00:18:30] So it's, it's not just in trading education, that there are people who are not as good as their marketing appears. It's in all industries. There are, there are, there's a spectrum of quality, particularly when it comes to teachers. And if you think back to your high school experience, um, you know, did you have some teachers that were amazing and some that were like, Oh my God, shoot me. Do I have to go to another one of these classes? Yeah. [00:19:00] Yeah. So it's the same thing. And so, um, the, the difficulty though is it's tied up with money. And as you know, when something is tied up or intertwined with money, it's intertwined with emotion and charge and preconceived ideas and stress and fear and all of these things. So there are absolutely trading, uh, educators or investment, um, educators that, uh, are just doing it to make money off the people [00:19:30] rather than to it, to help the people. And I think there's a couple of tilted Palestines. Oh, sorry. So talk a little about, you know, what these are and what to look out for. Oh my

Speaker 2:           God.

Speaker 3:           Um, yeah, if you, so one of the, one of the most important things is to look at how do these people really make money. Now you may or may not have visibility of their investing fortunes, but the good thing is you don't really need that. Okay. So if you go [00:20:00] to a trading educator, um, and look at their website and you look at their products and programs, and if they're pushing you in a certain direction to a certain broker to, um, to buy a whole lot of, um, subscription services to sell you, um, a constant flow of, uh, tips or, or, um, trade calls, like trade advice, like what stock [00:20:30] you should buy, what stock you should sell. If they're trying to get you onto all of that, what they're doing is making you dependent on them. Okay? So the, the number one thing you want when it comes to money is to invest in yourself to build the skills.

Speaker 3:           So you don't need the advisors. Yeah, no, no. I'm not saying you should not have advisors. Having advices is fine, but you don't want to be completely dependent on them and at their mercy, right. You want to be educated. So the [00:21:00] first thing is you gotta be educated, not buying things that just tell you what to do blindly without giving you a depth of insight. Yeah. And so my, one of my pet hates is a trade advisory services. When you go and you pay, you know, $2,000 a month or something, and every day, they send you a list of stocks to buy and a list of stocks to sell. It's like, that is the worst form of trading education out there because you're not actually educating at all. You're making the people completely dependent. [00:21:30] And I know for a fact that the vast majority of people who buy those services don't make money because they don't have the skills and they just fall victim to the same human emotions that cause most people lose money in the markets.

Speaker 3:           They, they pick and choose which ones to buy and sell. They pick and choose how big, how much, how big an investment to make in each one. And they're completely random and all over the place. You need the education to, uh, understand how to actually invest in the market like a process [00:22:00] so that it's repeatable and consistent and you have an edge. So you avoid just getting told what to do, you know, by this cell lab, that's bad, dangerous. The other, the other thing to avoid is the, um, the recommendation to go with my broker. Who's the best broker in the universe.

Speaker 3:           And those, the people, the, the educators who push really hard, their broker probably also teach very [00:22:30] short term trading strategies. They probably also sell automated trading robots and encourage you to use those. They probably also talk about the benefits of leverage and they probably also talk about how you can make X percent return per week. Now, these things all have one thing in common. They're all driving you to spend a truckload of money on commissions at the broker and why, [00:23:00] the reason they're doing that is because they're recommending their brochure, their broker and their broker gives the educator a commission, a share of all of the brokerage that their clients generate.

Speaker 3:           And this is a, Hey, this can be a huge amount of money at the client's expense. So if you, um, if you recommend a broker there's deals out there with the person who does the [00:23:30] recommendation can get 50 or 70% of the brokerage that those clients pay. And then you imagine they teach high-frequency trading trading 15, 20 times a day using an automated robot on huge leverage. Then of a sudden the broker and the educator is making an absolute fortune off the commissions while the investor slowly goes broke. Yeah. So this is why I don't recommend a broker. Well, actually I do have a broker that I recommend, but I have zero [00:24:00] financial relationship with them. I only recommend them because they're amazing. And they're cheap. Yeah. You know, I literally, I don't get a commission at all. Um, and most of the people that approached me, if you, if you saw how many LinkedIn connection requests I get from dodgy brokers who want to throw commission at me for recommending clients, it is unbelievable.

Speaker 2:           Oh, wow. I didn't even even think about the [00:24:30] broke. I think I get a lot of, um, for ex spam of like, which just drives me crazy. And unfortunately I do see a lot of people fall victim to it as well, but you just explained so eloquently and I'm sure that it's not the first time you've explained it. The not only the pitfalls, but the things to look out for. But also I think things that people don't actually realize, particularly around commission and leverage when there isn't, when things aren't transparent and there are enough [00:25:00] companies, unfortunately, that are not transparent about how they actually make money. Yeah, absolutely. Um, and I think that that's, that's particularly really important. And I mean, it's, it's, it's exactly the same in the investing world too. It still happens. But I think that it happens more so in trading. Yeah.

Speaker 3:           I think you're right. I think you're right. A lot of, a lot of the big, the more marketing focused people who don't actually trade and you don't know that they don't trade, right. They,

Speaker 2:           Whatever, whatever,

Speaker 3:           [00:25:30] You can also see. A lot of them have really polished sites, um, huge, um, content, production machines, you know, thousands of articles they get produced and videos every day and all of this, it's like, well, if you're doing all of that, you can't possibly have any time to service

Speaker 2:           Your clients. You can't

Speaker 3:           Have any time to answer questions. And if you buy something from them and I've bought a bunch of these programs, just to see what's [00:26:00] in there, you get zero contact with the, with the expert.

Speaker 2:           And

Speaker 3:           If anything, when you're dealing with money, you actually need to talk to the person who knows who's doing it.

Speaker 2:           Yeah. Because you have questions. Oh my God. Yes. You will.

Speaker 3:           One of the, one of the biggest drivers of success that I've noticed in my programs is not how much experience someone has. It's not where they come from, or, you know, how analytical AR or how much trading experience they've got when [00:26:30] they come to me. It's are they willing to ask questions? Because if they will just ask questions, when they get stuck, then they'll get unstuck and move and hit the next barrier. And then they can ask a question about that, get that resolved and on to the next one. And the next one. Yeah. This is all the way back to the beginning. We're talking about the quality of questions evolving. As someone learns, you can tell that someone is growing and they're going to succeed because the quality of the questions just keeps getting better and better. But when someone freezes and, and refuses to, [00:27:00] um, you know, put their ego to the side and say, Hey, I have a question. I don't know the answer. I don't know what to do. You know, when someone refuses to put their hand up like that, um, that is a big driver of a failure.

Speaker 2:           Yeah. You can't progress. Um, actually good. I'm glad that you brought this up because one of the questions I wanted to talk well, talk about is what do you [00:27:30] think that you need financially, mentally, psychologically, emotionally to become a trader? Because I mean, full transparency, it's not for everyone. And certainly the people that, you know, I have a bunch of conversations in Instagram, DMS. And what about, depending on where people are at, and some people start at different levels. Some people don't know that there is a difference between trading and investing and often that's mixed up. So [00:28:00] that's usually an indication to me that, okay, well first certainly from my point of view, you need to understand how the investing world works, how the stock market actually works, you know, base fundamental knowledge. You understand, you know, you need to understand certain things like risk and, um, you, what your goals are, and also your purpose, personal lifestyle.

Speaker 2:           Like if you have a full-time job and three kids, and like, how realistic is it that you're actually gonna have time or prioritize time around trading? And if you're only starting with $500 and you [00:28:30] are interested in investing in your education and you know, there are certain things that it's like you need to have also at least some interest kind of like what you were saying before, like some skin in the game of like a deep desire to do it, because there is a learning curve that comes with trading and you have to be at least somewhat interested in the technical side of it. What, from your, from your point of view, [00:29:00] what do you think is like, you need to have this, otherwise it's just not for you.

Speaker 3:           Yeah. Good question. And I think it is important because it's not for everyone. And I've seen people try and, um, and fail badly because they didn't have the missing ingredient. And after teaching hundreds and hundreds of people to trade, um, what I've found is the most important ingredient [00:29:30] is not what you think it's, it's a fascination in the markets and investing and how money works and, um, and how, and how the stock market works and how, how to, um, grow your money fascination in that, if you're one of these people who is like, Oh yeah, I should probably, you know, learn to trade [00:30:00] and then I can, maybe I can make some money and that'd be cool. It's like, no, that's not a good starting point. But if you're like, Oh my God, I am, I I'm fascinated by the way the stock market works or by the way the market works. And how does, how does some people make money and how some people lose money? And why does it go up and come down again and go on up and come down again? And what does it crash and why is that working?

Speaker 2:           I just like, if it just like, if it just fascinates you. Yeah. That's it, [00:30:30] that's what you need. Right.

Speaker 3:           You know, you don't want to go in and out of some sort of misguided sense of obligation.

Speaker 2:           Yes. Good. I'm glad, I'm glad you brought that up. Yeah. And I, you know, and I really honor and respect, um, people that I talked to an allergist, like, look, I just, I need to have things on autopilot. I know, I know I need to grow my wealth and I know I need to be invested, but you know, trading's not, for me, I'm like, great, good, like have that clarity and know what works.

Speaker 3:           [00:31:00] Yeah. Now there's some, there's a couple of caveats, which I think are really important for people to hear some of the biggest objections or reasons for not doing it as, Oh, I'm too busy. I've got three kids, I've got a career and I got this and I've got that. I'm sick. And those go, you know, and like, okay, great. When I learned to trade, I was working, [00:31:30] uh, in a job that required 12 to 16 hours a day, Monday to Friday, I was managing projects or working in print, managing and working in projects across three different cities simultaneously. I was on two to three airplanes a week. I had a young family and my wife also worked. I did not have the time to learn to trade. I did not have the time to trade, [00:32:00] but I had the desire to change my circumstances. I did not want to be doing what I was doing for the rest of my life.

Speaker 3:           I wanted something better. And that, that desire was enough to help me carve out the time. So I would sacrifice other things. I would, I didn't watch TV. I didn't watch the news. I didn't read [00:32:30] anything other than trading. I didn't read the newspaper on the bus on the way to work. I would read my trading books and do my analysis on the plane between Sydney and Brisbane and Sydney and Melbourne and Melbourne and Perth and Perth and Sydney and Sydney and Oakland. And back, I would do my trading work. I would wake up half an hour earlier so I could place my orders. And I'm, I made it work because I had the desire. [00:33:00] Everyone is busy. So don't, don't, I don't want anyone to be under the illusion that your busy-ness is busier than anyone else's business. Everyone in life is busy. Right. If you want it enough, you'll find a way. Yeah. So it's not,

Speaker 2:           Yeah, I agree. That's, that's actually a really good point. Um, it is a really good point because I think a lot of people can definitely feel trap into the, again, this comes back to psychology, but the get rich quick mindset. [00:33:30] And a lot of the, to me, the scammy educators, you know, try to sell this dream of like, it's so easy and you can make, like you said, this much percent in a week and whatever, and you can fall into that trap of like, Oh, quick, quick fix. Yeah.

Speaker 3:           It takes some time to learn. It does. Yeah. I took three years to teach myself by reading books and whatever. Um, I can now teach someone the basics and get them started is in three to six weeks because I kind of got the process [00:34:00] down and it's all, it's much smoother now, like a lot clearer. Um, so that that's to get someone started. The second misconception that I think is really important is that trading is again like what you see on the movies. It's sitting in front of a computer all day, buy, sell, buy, sell, buy, sell, buy, sell, screaming, broke a buy, sell, buy, sell. Oh my God. I'm stressed out of my mind, but I still drink coffee, buy, sell, buy, sell, drink coffee.

Speaker 2:           And then hopefully the American market's open. I went to sleep four in the morning [00:34:30] and tried, tried to, I try to it's like, that is not it. Yes. Oh my God. Thank you. The number of people that automatically go also you're a day trader, because I say I'm a trader. I must've heard that about

Speaker 3:           A bazillion times in the last 20

Speaker 2:           Years, just because I said trading, what does it have to do with like, no, I think that's an indication that people just don't understand. There are different ways to become [00:35:00] a trader or to Trek trade.

Speaker 3:           Right. So, so let me paint a clearer picture so that, so that your listeners understand what that actually is. Hmm. Okay. Um, trading is a, is a spectrum, right? This very short term high-frequency trade, trade, trade, trade, trade taught people. I'm not that I don't, I don't promote that. I don't actually actively discourage it. And then at the other end of the stream, there is like the Warren buffets of the world who are like buy and I'm going to hold forever because I love this company and I'm going to work on this company and help them. And [00:35:30] what about, so everything in between is some form of trading or investing. And so my style of trading, which is systematic stock trading, uh, is, um, I have rules that if certain things happened, if certain things happen, rather I will buy a stock and I'll buy a certain amount of that stock.

Speaker 3:           And if certain other things happen, I'll sell that stock. And all I need to do to make my decisions is, [00:36:00] um, update the data from the previous days activity on the stock market. And I just press a button on the computer and it downloads it. And then I run my rules and I have the rules just built into this, um, my trading software. So it's just like spreadsheet, formulas. It's not like complicated analysis or anything. Um, so I run my rules and it tells me what stocks to buy and sell. And I placed the orders with my broker and I go and do something else. And that's it. And so the process [00:36:30] takes about somewhere between five and 30 minutes a day for me. Um, now you might say, okay. Yeah, I remember you've been doing it 20 years. Okay, cool. Um, so it might take you 45 minutes or an hour to start with, and then after a week or two, you figured it out and you've got rid of all the lumps and bumps in the process.

Speaker 3:           Now it takes you 30 minutes. Okay. So it's, it's, it's really sedate. And to be honest, it's not exciting. It's just following a process and you can follow that process [00:37:00] daily and, uh, traders use a system, a set of rules to, to trade or invest, uh, that you run daily. But I have also, I also have students that don't want to do it daily because they're too busy or they just don't want to do much. And, um, there's some amazing, um, approaches to trading that you do weekly. And so I've got an assistant trading system, which is a trading system is just a set of rules that tells you exactly when to buy how much to buy and exactly when to sell. Um, [00:37:30] I have an amazing trading system, which is once a week and it takes about 10 minutes a week to run. And it makes incredible money, like really good returns.

Speaker 3:           And there were two on effort for running that system is phenomenal, far better than anything else I've ever done in my life, because seriously, it's five to 25 to 10 minutes a week to run it. And so just because someone is busy, doesn't mean you can't build wealth in the stock market. [00:38:00] You don't have to be sitting staring at screen for hours every day. You just need to learn a process that suits your lifestyle. And that's a big part of what I'm about. It's understanding your personality, your objectives, your lifestyle, and funding, the, the trading rules and trading approach. That is right. You know, that fits you.

Speaker 2:           I'm glad you brought that up because it's such a big part of, even as an investor, you have to understand, you know, because as you said, there is one in [00:38:30] spectrum, which is fundamental analysis, which is incredibly time consuming. If you want to be good at it and beat the market, then there's the technical side. And then there's the, like you said, everything in between. And I think that people don't think about how they want it to fit into their lifestyle or how they want to prioritize it and jump straight to. I mean, the number one question I get is what stock do I buy followed by or [00:39:00] equal to what broker do I use? And it's like, it's the wrong question.

Speaker 3:           Literally edited and published a video. I think, I think my team is about to hit, publish on asking the right questions, but then they're the logical questions for someone to ask it is, but they're not the right questions to really help [00:39:30] them grow and, um, develop I'm independent. Exactly. Right. So you need to ask different sorts of questions. And the first question is, you know, what is my personality objectives, lifestyle so that I can understand me, and then I can go look for a method that will fit

Speaker 2:           Exactly because that is the one that is going to be most successful, particularly when it comes to your mindset and managing emotions because the market does move. [00:40:00] Um, and you definitely don't want something that isn't going to fit you because you're going to stop it. And you're going to blow it up. You're going to self sabotage without knowing. Yeah.

Speaker 3:           Yes, no doubt, no doubt. And a lot of people listening might be thinking, Oh yeah. But how do I do that? It's like, okay, first thing, be aware that you need to do that in my program. Um, in my, in my mid-level program, I actually have a whole module on your trader profile, you know, figuring out who you are as a trader, so you [00:40:30] can find the right set of rules and follow them. So it's pretty much stress free. Um, so there are guide, you know, guide posts and programs that you can use to understand who you are and what the right approach is. You don't need to figure all that out on your own. The first thing is just be aware, there's different ways to do it. And just because the conventionally, you know, discussed ways or the preconceived ideas don't fit in your life doesn't mean you can't build wealth in the stock market. Cause I I've seen it, people with all sorts of crazy constraints [00:41:00] and, um, you know, weird and wonderful lifestyles. I've had success with this.

Speaker 2:           Yes. Yeah. Um, actually I do want to talk about your two programs, but before we do that, just, you know, I was really fortunate when I learned from you that I didn't know another way. Oh yes. So I learned systematic technical trading and I was like, well, this is the only way when I first came to it. And now obviously now [00:41:30] I know that there are so many discretionary traders that don't have a system don't have a set of roles, kind of, a lot of it is winging it and guessing it, and there's no process and they think that there may be doing okay, but probably a lot don't even look at the results. So how would you explain from a top level kind of like there's discretionary traders and then it's technical [00:42:00] and kind of fundamental in terms of approaches and then the systematic. Yes. How would you explain them kind of? Well, because to me really, the only way to be successful at it is being a systematic trader.

Speaker 3:           Yeah. Okay. Good question. I like that. Um, okay. So if you think about the way most people make investing decisions, okay. They start off by asking advice from a few different people and then they latch onto a few ideas, do a bit of research, maybe look at [00:42:30] some data, some trends. And from all of this different bits of information, pull together, what they think is a logical course of action and then make a decision that, that, that process is not very repeatable. And it takes a lot of time. Yeah. You're basically trying to assimilate lots of different sources of information and different considerations to make a sensible decision. There's a huge amount of pressure on that decision that you're trying to make that one decision [00:43:00] to be successful now in, um, in investing in trading and stock market, particularly there's lots of businesses. You could invest in lots of stocks you could buy and you're not going to buy just one.

Speaker 3:           If you buy just one and it does well great. But chances are, if you buy just one stock, you can have a very Rocky ride. So you need diversification. And so that means you need to hold lots of stocks. [00:43:30] And if you think about the amount of research and time and energy required to find lots of different stocks to hold, to get diversification in your portfolio, it's an immense amount of time. So discretionary trading is, is, is difficult because you're looking at them, um, lots of different sources of information about these stocks. You're looking at the annual reports. You're looking at the charts, you're looking at different sort of indicators or mathematical calculations on the price chart. You're looking at recommendations [00:44:00] from brokers and you're trying to assemble a sensible decision out of that. And if you multiply that by 10, 15, 20 stocks in your portfolio, all of a sudden you're drowning and there's no way you can do that.

Speaker 3:           If you've got a busy life, not to mention the fact that it's inconsistent because you know you, one week you might be really positive because, um, you know, the world seems like a good place. You just got a pay rise. You're in a good place with your partner, the dumps being nice to you and Bitcoin's going up. And so you're like, cool. I'm going to look for things to buy next [00:44:30] week. You know, something might've, uh, maybe it's crashed. Maybe you got fired, maybe a trip over the cat and banged her head on a wall. And you had a fight with your partner. Now you're in a bad mood. You're looking for things to sell, right? It's inconsistent because the emotions get in the way now contrast that with systematic trading and investing, which is investing in trading, using a process that is absolute and objective, if a and B and C a true you buy the, or is true, [00:45:00] you sell a systematic approach to trading and investing is rules-based where your human judgment does not come into the decision.

Speaker 3:           The only human judgment is in creating the rules in the first place. And then after they're created and tested, you just follow the rules each day. And by following the rules each day, you get a couple of things. You get consistency, repeatability, you get confidence because they're objective [00:45:30] rules. You can actually test them and make sure that they made money in the past. You'd be surprised how many people are trading using methods that don't actually make it didn't actually make money in the past, hoping that they're going to make money in the future like madness. So, uh, trading and investing systematically, like this gives you a huge advantage over all of the people who aren't doing it.

Speaker 3:           And it also dramatically reduces the amount of time it takes, because I know time is [00:46:00] one of the biggest concerns. We're also busy, right? And when I started trading, I started trading with discretion, using analysis and reading the reports and looking at the charts and trying to make my decisions. I was spending three or four hours a night at the very beginning, trying to find stocks to buy and sell. But when I went systematic, that time dropped from three or four hours a night to 30 minutes a night. And so all of a sudden I could cover a lot more ground in a lot less time, get a [00:46:30] lot more diversification. And I made a lot more money with a lot less stress.

Speaker 2:           Yes. Great. I think that that is, that's a really great way of explaining it. And you know, I think there's so much misconception. You know, people talk about Warren buffet as being whatever the grandfather of investing, but most people don't realize that he spends 89% of his day reading and doing deep analysis. And he's also been doing it for about 60 years. [00:47:00] And there's a lot of work in that. And I think that one thing that isn't really talked about either is the number of times that he is wrong, but also just like trading that you're wrong a lot of the time and you have to be okay with being wrong and cutting losses. And just knowing that you can have a system that is 50% of the time. Right. [00:47:30] But it'd be wildly, wildly profitable.

Speaker 3:           Yeah, absolutely. Absolutely. Um, there's, there's a lot of social pressure to be. Right. You know, and particularly when it comes to money, if you say you're trading stocks, I was like, Oh, well, you know what stock to Dubai, or what stock should I buy? Well, I'll tell you what it's talking about. And then tomorrow they come back and they say, Oh, how's that stock doing? It's like, ah, um, well it went down. I lost money. It's like, I must be an idiot. [00:48:00] No, there's a lot of pressure to be, particularly if you're doing three or four hours of analysis a night, trying to find these stocks to buy it. Right. Systematic trading also helps with that because it takes the pressure off each individual decision because it's not the individual trades or investments that make you the money. It's following the process over and over and over again, that extract money from [00:48:30] the market.

Speaker 3:           Each trade when you trade. Well, each trade doesn't matter if it, if you have a loss it's so small, it doesn't matter if you have a win. Okay. That's great. But that one week doesn't change your life. Yeah. What you're doing is you're following a process that has a positive expectation of making money. And you just risk a certain amount each time, over many, many trade, many, many investments, and it builds your wealth [00:49:00] much less stress, much less pressure on being right. You don't have to be right. A hundred percent of the time. You don't even have to be right. 50% of the time you can be right. 30% of the time be wrong, 70% of the time and still make a ton of money. Yeah. Because what happens is when you're right, you have really big winners and when you're wrong, you have tiny losses. And so lots of tiny losses, plus lots of real, a couple of really big winners actually makes a lot of money again, [00:49:30] different way of thinking about it that most people don't.

Speaker 2:           Yeah. And it's just not the men. You're right. It's just not the mentality that is, is taught particularly when yeah. People are like, Oh good. What stock do I buy? But it's like, no, but I could be out of that position tomorrow. So it's not, that's not the point.

Speaker 3:           Absolutely, absolutely. What someone says, Oh, what stocks you're holding? It's like, um, well there's about 60 of them or 80 of them. And they're all managed by different systems. And I don't [00:50:00] even know what a lot of the companies do because it doesn't require me to follow the buy and sell signals that come out of my systems. And it doesn't take me long each day. And I just take lots of trades over time. And the account grows. Most people will look at me sideways and then go to the bar and, you know, conversation over because trading this way is not something that you talk about wildly at cocktail parties. Oh my God. Like it takes all that emotion. [00:50:30] Yeah,

Speaker 2:           Exactly. And it doesn't seem as glamorous or as again, a little bit of that kind of get rich quick. Like, am I, you know, have you got a hot stock tip? That's going to be the next Amazon or whatever.

Speaker 3:           Yeah, absolutely. I mean, that, that just doesn't, I, it doesn't exist because it's just a crystal bowl. That's a burden. Um, and it's not the way to make money. That's a lottery ticket. And what do we know about buying lottery tickets over and over again over time? How much money do you make? [00:51:00] No. Right. It's an, it's a negative expectation game. You will lose money and taking hot tips in the markets is also a losing game. There's always going to be that story of that one person who bought that one stock and, uh, you know, it tripled or 10 folded in, um, in value in a couple of weeks. And then they were tired and blah, blah, blah. But that's just one story is millions of people out there who are doing exactly the same thing, losing their, [00:51:30] blowing up their accounts, destroying their future wealth because they're not following a sensible process.

Speaker 2:           Yeah. And they're not talked about, and they're not advertised on these day. Trading get rich quick for it.

Speaker 3:           No. And if you go into the Facebook groups or the online forums, uh, with, with traders again, traders and investment comas hangout, the people who are talking today are not the people that [00:52:00] have just blown up their account or have just lost money or just done something stupid. You'll see the people talking who are crowing about that lucky call that they talk like the lottery ticket, the paid off and trembling is from a psychology perspective. This is really dangerous because you go to those forums and you'll see people talking about, Oh, I made this much money. I made this much money. I made this much money, but you don't see them talking about, I lost this much and this much, and this much, and this much, and this much in [00:52:30] this much and this much. And actually I've been training for five years and I'm still down 150 grand, but I just made 20 on this awesome call that I, that I'm crying about. Right. You don't, you don't hear that cause people don't,

Speaker 2:           No, they don't have a test. Yeah. It's, it's the, the equivalent of the Instagram highlight reel, But it's also like, people might, might talk about how they're up 20 grand or whatever. They've done 30% this year, but it's like, yeah. But [00:53:00] how long have you been trading for how, what is being your return over the last five, six, seven, eight, nine, 10 years. And it's always a focus on that really short term gain without factoring in. And this really does drive me crazy. Cause I talk about it consistently. I feel like I'm a broken record, but compound interest in wealth accumulation happens with time,

Speaker 3:           Time, time, absolutely timing, consistency.

Speaker 2:           [00:53:30] Yeah. Time and consistently and a proven method.

Speaker 3:           Absolutely. Yeah. So you can't, um, rely on a hot tip or a, you know, some guru to tell you buy this stock and it's the next Amazon and you can retire what you need is a process that you follow that grinds out profits over time and build your wealth.

Speaker 2:           Yeah. Yeah. Um, so talking of which you have two programs, one is more [00:54:00] fitting for kind of beginners and entry-level, which is called the system and try to launch pad. Yes. And then you have the trader success system, which is for kind of, you know, intermediate to advanced both, uh, really amazing programs. I know a lot of students that have gone through both, um, quite recently as well. And particularly what I love about the way that you teach is you have proven systems [00:54:30] that have been tested and that will work to kind of shortcut people's processes that don't have to build, you know, their rules from scratch. If they do want to take something. Yes. Um, what would you say is best for if someone was coming in and going, okay, I want, I want to learn how to tat a trait. I do. I know how the stock market works. I know how kind of investing works and I want to do this. How would you differentiate between which to start [00:55:00] with? I mean, obviously the ultimate is the trader success system. I'm in it personally myself. It's an amazing program. Where would you suggest people start and how do they know?

Speaker 3:           Yeah. Good, good questions. Thank you. Um, it depends a little on the level of conviction that you've got. If you, if someone is listening to this conversation going, Oh my God, that is what I want. I've always been fascinated by the markets on even just show me how this works, teach me. I'm a really, [00:55:30] really want to learn this. I would just go straight into the trader success system because it has the introductory components built into it. And as part of the trader success system, you also get, um, as a bonus access to launchpad. Um, so anyone can start with, with the trader success system, but it's obviously a big, a more, um, more all encompassing program. So if you'll, if you're looking at this thing, you know, that, it sounds pretty interesting. I want to get a taste of it. I want to try it out and learn a bit about the markets [00:56:00] and, um, and just get started then that sort of person that would be, um, you know, to get started with system, tried launch pad, and then you can upgrade and, and, you know, if, if you, if you find it's for you and you love the, the concepts and the ideas, and you want to learn more, then just continue on.

Speaker 3:           There's a logical curriculum. Yeah. Um, it's uh, then there's also the financial consideration. You know, if someone has a couple of thousand dollars to invest and [00:56:30] they're just getting started, they're not going to want to, they may not want to go all in for the bigger program at the beginning. I mean, it's still going to be hugely valuable, even if it takes up a reasonable chunk of your investing capital, because the knowledge that you get and the, um, the long-term benefits of that knowledge is going to pay back hundreds of many hundreds of times over. But, you know, you know, when you're just starting out and you've, you've got a couple of thousand dollars of savings, you don't want to spend too much of that. So, [00:57:00] um, the introductory program is going to be better for, um, someone who's just starting out on this in investing journey, someone who's more established and already got investments. Then again, the trader success system is going to, um, be a logical starting point because you'll get even more value and more information you'll be able to accelerate much more quickly.

Speaker 2:           Yeah. Okay. Perfect. I think that's a, I think that's a good explanation and yeah, I mean, obviously, you know, I'm all about investing in yourself and your knowledge and it a hundred percent pays [00:57:30] dividends back. I mean, there's no way I would've been able to work out trading myself, um, without the actual proven path. And I talk about investing the same people, trying to work out, you know, work it out themselves and guess, um, and it is such a, such a big part of it is the mindset piece, which comes from having a proven path from a mentor, but also the community it's, it's a really an, the support obviously, but the community of other [00:58:00] people of it being in your world and it being normalized.

Speaker 3:           Oh no, that's such a good word. Something being normalized. Yeah. Normalization of, um, certain actions or certain parts of life can work for either good or evil. Right. You know, psychos hanging out together and that normalize a psycho behavior. Um, it's not really talking about obviously having people who are positive, growing, learning, interested in their development. [00:58:30] Interesting. In becoming something more interesting, making more of their lives, interested in helping others, having that in your environment is huge. Yeah. And one of the, one of the things that are really pride myself on actually, it's probably the thing that I love most about what I've created enlightened stock trading is how the community interacts with each other. If you go on a lot of, um, a lot of groups around trading and investing, they're quite toxic, you know, people like bragging and then people blaming other people and people asking questions [00:59:00] and other people abusing them for asking stupid questions. My, my group is the absolute antithesis of that, you know, nothing but helpful people, um, all positive all up this thing, no question is too simple. Um, you know, everyone moving forward together, it makes a huge difference. Yeah. And it's, it's, it's, it's the group that I wanted around me when I was learning. Yeah.

Speaker 2:           Yeah. It really, it does, it does dictate your success. I mean, you know, you're the average [00:59:30] of the five people you spend the most time with what you feed your mind and that environment. It really does matter. Absolutely. Thank you so much for coming on and having this chat. I'm so glad that we did it. And I, I also don't think that this is the last time I think that we need to go into a deeper, um, session around, you know, maybe getting a little bit, a little bit more technical about what it looks like in terms of, you know, even talking [01:00:00] about the entire process. Um, but thank you so much for coming on. It's I think this has been a great conversation and really helps to demystify and debunk a lot of the stuff that's out there.

Speaker 3:           Yeah, absolutely. I've really, really loved it. Thank you so much for having me and, um, look, uh, always very happy to take questions about this. Obviously we'd love to come back and have deeper conversations and explore different aspects of it. Um, so if anyone wants to contact me, I'm sure the details will be around the, this podcast episode somewhere. [01:00:30] I'm very happy to take questions. I have discussions to help people out.

Speaker 2:           Yeah, definitely. I will put the links in the show notes, so they know also where to contact you. Thank you again, and we will be talking to you soon.

Speaker 3:           Fantastic. Thanks so much. [inaudible]

Speaker 2:           If you are not part of the Ms. Wealthy movement yet, make sure you head over to Instagram and hang out with me. There I am at Ms. Wealthy official. And if you need anything else, head to Mswealthy.com and you can get all the info [01:01:00] that you need. Find us on Facebook as well. And I'd also love if you can drop a review on iTunes, it supports us massively, and it means the fricking world

Speaker 3:           [inaudible].