#1,330 You don’t get paid for activity you get paid by being right

Episode Transcript

Speaker 1 (00:05):
What Going back to Investing in Trading Live sponsored by
Trading Academy. In the last segment, we talked about a
few different subjects on why it's important to have a
plan but also why to have the world leader in
financial education financial literacy. Trading Academy has been doing financial
literacy programs and for investing and trading workshops all across

(00:29):
the country and the world what nine on their twenty
ninth year now, And that's why it's so important to
have an in person place to go to build these skills,
to learn how the market works, how it functions, and
how to make those smart investing and trading decisions in
your life, because it takes other people at a community

(00:49):
to have that those goals and those wishes to have
a plan for that. If you want to start that plan,
just simply text the word investing to the number two ten,
two ten right now for two seats for a free
trading and investing workshop locally right here at the Academy
or at one of our locations all across the metro

(01:10):
Text investing to the number two ten two ten, or
go to Trading Academy dot com and pick your own
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teach these as well. We have a good time talking
about all these markets, and great folks are coming into
these classes. These free investing and trading workshops also follow
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(01:52):
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Thirteen hundred and twenty seven episodes now, so really surging
to the upside with our podcast. So with this next
segment here, I kind of ended that last segment and
I gave a little teaser about being efficient with your capital,

(02:13):
have any efficiencies with your time as well, And it
takes using the right vehicle to be able to do that.
And when I talk about vehicles, there are different ways
you can get anywhere in life. You can take a
different vehicle. You can take a car. You can take
a bicycle, you can take an airplane, a jet, you
can take a a we'll call it a motor home.

(02:37):
There's many ways you can get somewhere wherever you're trying
to go. Now, the speed that you're trying to get
there is going to take the right vehicle, but also
the safety of it as well, which the same thing
goes with the financial markets. If you're trying to build
a retirement account, you want to be using the right
vehicle to be able to do that. Some people maybe
just don't have, you know, hundreds and hundreds of thousands

(02:58):
dollars or millions of dollars to start that, which by
the way, you don't, so you don't want to use
the right vehicle. If you're starting that portfolio, or if
say you have millions of dollars and you want to
protect and continue to grow that or leave a legacy
for your family, at one point, you're going to want
to have the right vehicle that's going to be the
designed to do that as well. So on this segment here,

(03:19):
I want to get into those topics and those vehicles.
First off, we'll start with that are designed for income.
So let's just say somebody is working now, they have
a great job, you know, well six figure income, but
they know that it takes extra income or a secondary
income to build extra wealth, and they don't want to
go do another job. They want to use what they

(03:41):
already have. What are some techniques and strategies that we
do here at the Academy that may be new to
some people because they just don't hear some of this
stuff that have been around for a long time.

Speaker 2 (03:53):
Yeah, and they're new because excuse me, they're new because
Wall Street is basically kind of keeping those things secret.
Wall Street basically tells people to do one thing, and
that's just buy something, put a portfolio together, and then
just hold on to it for years or decades. And
if you are looking for income, that's not the way

(04:15):
that you use the markets. That's more of a long
term investor. There's a difference between and we use these
words a lot traders and investors. A trader is just
simply somebody who gets into and out of a position
out of a shorter timeframe. And if you're looking for income,
you need to basically be a trader, not a long
term investor. And the problem is that too many people

(04:38):
that think they're traders end up becoming investors. And what
I mean by that is they just hold on to
losing trades too long, hoping for them to come back,
and the majority of them don't. And they don't because
in reality, there were bad trades to make in the
first place. So to be successful, let's first of all
figure out what you need to be. Do you need

(04:58):
to be a trader, You need to be investor because
the way you use the markets is different. If you're
looking for income in the time with which you within
which you needed is up to you. Is it daily,
is it weekly, is it monthly? There are different strategies
and assets you can use to kind of fit your
time frame. Or vehicles or vehicles like vehicles exactly what.

Speaker 1 (05:20):
Are some of the vehicles that we cover in those
free investment in Trading workshops, just to give us ship
it on what's covered in there so that way people
can make the right decision to come into those.

Speaker 2 (05:29):
Yeah, pretty much all of them. We do cover stocks,
but we also talk about the vehicles for short term income,
which are options, the futures market, the foreign exchange market.
If you don't know anything about those, there's a good
reason for that. Because people haven't been teaching you that,
and in fact, they probably are telling you that they're
too risky. They actually can be the least risky assets

(05:52):
to trade if you know what you're doing and you
know how to make sure you manage risk.

Speaker 1 (05:56):
Let me give you an example on that.

Speaker 2 (05:57):
Let's do that.

Speaker 1 (05:58):
All right, So you drive car, right, I'd drive a car.
We can minimize our risk in the financial markets. Oh,
I'm sorry, in our vehicles.

Speaker 2 (06:07):
Right.

Speaker 1 (06:07):
We can minimize the risk by driving seat belts and
all that stuff. Now, what you're alluding to is as
I could put my eight year old son in my
vehicle and say have at it, go go drive. Now,
that would be very risky because he doesn't know what
to do. He doesn't know how to do that. But
what if I trained him. This is what the gas
pedal is for. This is what the break is for.

(06:30):
This is what you do when you turn. You always
want to be defensive driving, protect yourself, wear your seat belt.
Hopefully I'm not doing that at eight years old, but
maybe at about fourteen fifteen sixteen, you're starting to teach that.
The same thing goes with the financial markets. If you
don't know, you don't know you're just going to do
what you think is right, which you know is going
to be wrong, but you still do it. Why is

(06:51):
it so important to go to a hands on place,
to go a physical place to build and learn these skills.

Speaker 2 (06:57):
Well, for one thing, people learn it different paces. Some
people it takes a little bit longer. They need a
little more hand holding, so to speak. Some people think
pick things up quickly, but they want to accelerate them
even faster. So if you have somebody you can come
in and sit with and explain, you know, what, what's
your goal, what are your concerns, what are your issues,

(07:18):
what are your problems? What are your goals that you
want to have? Have somebody help you achieve. That's what
we do. That's putting together a plan that's specific to
each person because everybody's a different as too, is what
they do. And you know, part of what we do
is go over the fallacies that are out there. And
it's probably as important to learn what you're doing wrong

(07:39):
as it is to know what to do right, because,
to be honest with you, the making money part of
it is probably easier than the keeping money part of it.
You know, we mentioned risk management, and if you know
how to manage risk. And that's the first thing we
teach our students. If you do that, where you would
in effect keep any losses you might they have small.

(08:01):
It only takes one or two really good trades to
end up having superior results. And remember, and this is
a mistake we see a lot of people make. They
come in and they think they have to trade every day,
they have to trade multiple times. Listen, you don't get
paid for activity. You get paid for being right. And
one of the ways that you can do that and
keep your risk controlled is to use leveraged assets. What

(08:25):
you want to try to do is make as much
as you can in as short a time period as
you can. Who does that? That's Wall Street's job. Their
job is to make as much money as they can
in as short a period of time as they can,
and that typically, unfortunately, means taking advantage of the public.
So if you understand what wall Street is doing, so
you can just follow them, you can trade more on

(08:48):
their side instead of trading against them. But you don't
have to trade a lot. You just have to make
sure when you're right and you make more money than
you lose when you're wrong.

Speaker 1 (08:57):
I like that that's a I want to make sure
our listener understand that you don't get paid for activity.
You get paid for being right broker exactly. That's or
an hourly employee. You get paid for activity being there
and doing something. So that's what the key in the
market is not to go somewhere and work for your money.

(09:17):
It's to have your money work for you. And it's
not by being super active. It's by being active at
the right times and at the right price, and then
you let it work for you. You shouldn't be watching
your computer screen. You don't have to trade every single day.
You can set up strategies that are designed based off
of your schedule, your time, your schedule, and your capital.

(09:39):
And that's why what we talk through in these free
investing and trading workshops here at the Academy at Trading
Academy is what can you do with your time, your schedule,
or your capital, whatever that may be. People have limited time,
so people have busy schedules. Some people want to maximize
the efficiency of their capital, and that's what we go
through in these investing in trading workshops all across the

(10:00):
metro here and at the Academy, so that you can
gain some insight on what might be right for you
based on where you are now and where you're trying
to go. If that's you, if you're that person that
is looking to do some of those things, come into
one of these free investing and trading workshops simply by
just texting the word investing to the number two ten
two ten, and that's for two seats, one for you

(10:20):
and one for a friend. Text investing to the number
two ten two ten, or go to trading Academy dot
com and you can pick your own seat there. That's
Trading Academy dot com. If you're an old school caller
like al and I, just call in by calling nine
five two eight one four forty four ten. That's nine
five two eight one four forty four ten. We got

(10:42):
more to discuss. We covered a little bit on the
income side of things. We're going to talk about retirement next.

Speaker 2 (10:46):
If you have.

Speaker 1 (10:46):
Retirement accounts, you're looking up to retire at one point
in your life, stay tuned and we're going to discuss
that on investing in Trading Live. We will be right
back