Latest / Success Story with Scott Clary / Bernd Skorupinski - #1 Ranked Prop Trader in the World | The Psychology of Winning Traders

Transcript

Bernd Skorupinski - #1 Ranked Prop Trader in the World | The Psychology of Winning Traders · Success Story with Scott Clary

• 0:00
  I have a corporate background after my studies. I got a corporate job for like a couple of years
• 0:05
  and I realized the corporate world is not for me because I was a slave of my desk. The reason why
• 0:10
  I went into trading was not necessarily the money but more about the time freedom. He walked
• 0:15
  away from the safety of a predictable corporate career and stepped straight into one of the
• 0:20
  riskiest games in the world. Baron Skoropinski didn't gamble his future. He rebuilt it.
• 0:24
  When I started trading 13 years ago I put a lot of effort in my trading education. I would always
• 0:30
  tell people look for something that fits your lifestyle. Day trading is literally like a 9-5 job.
• 0:36
  So the question is hey can you fit another 9-5 job into your life? The answer is no. That's why
• 0:42
  swing trading midterm to longer term trades is way more sustainable. With discipline, precision
• 0:49
  and pure price action mastery he became a trader known for consistency, transparency,
• 0:54
  and real results. Today he leads online trading campus, teaching thousands to trade with structure
• 0:59
  instead of hope. I consider trading as the best side hustle in the world. Not in full-time job.
• 1:05
  People should have multiple income streams and they should keep their job as long as possible.
• 1:10
  The end game of trading is once you get detached from money. Trading is literally a process game.
• 1:16
  If you follow the process right every single time, the end result is money. It's no overnight
• 1:22
  success. It looks easy but it's definitely not easy.
• 1:35
  So, Baron you make your living trading the markets but your advice is spend less time looking at
• 1:39
  charts. So what are successful traders doing instead? Well usually successful traders are not
• 1:46
  necessarily day traders. That's more like I would say a social media phenomenon because on social
• 1:52
  media everyone is promoting day trading. I'm coming from I have corporate background. So
• 2:00
  right after my studies I got a corporate job for like a couple of years and then I realized
• 2:06
  the corporate world is not for me because I was a slave of my desk basically the 9-5 grind.
• 2:11
  I mean for me it was not a 9-5. For me it was basically 7 to midnight basically almost
• 2:18
  noticeably but it's time. So I wanted to have more time freedom, more time flexibility.
• 2:27
  So the reason why I went into trading was not necessarily the money but more about the time
• 2:35
  freedom. So I quote unquote develop the strategy that I would consider or call set and forget and
• 2:44
  get a life meaning you spend less time in front of the screen and you still make decent returns
• 2:50
  in the market. So when it comes to trading we classify it as traders more like as swing trading
• 2:57
  which is you spend time in trades for a couple of days or even weeks. Why did day trading even
• 3:05
  become so popular because what you say makes a lot of sense. If you're going to replace your full
• 3:10
  time 9-5 or whatever 7-11 as some people are working very hard if you replace it with the
• 3:17
  business or trading or the whole goal in life is freedom. That's what everybody wants. Everybody
• 3:21
  wants some version of freedom but then they end up making them creating a more complex job and a
• 3:27
  more time consuming job which doesn't make much sense to me at all because I do know some people
• 3:32
  that are day traders and it's even worse than entrepreneurs because they can't even go to like
• 3:36
  lunch without bringing their laptop with them. So where did this whole phenomenon of day trading and
• 3:42
  being quite literally a slave to your laptop and the markets down to the minute where does that
• 3:49
  come from. That's a very I think philosophical discussion because I'm also not sure but I think it's
• 3:56
  about the perception of making quick money and the appeal of hey I can make money a lot of money
• 4:05
  in seconds or even minutes and this appeals to a lot of younger audience who maybe don't necessarily
• 4:12
  want to work hard for their money but wants to have like the quick cash out almost like you know
• 4:24
  last week I was in Vegas for some podcasts it's almost like making the analogy like going to
• 4:30
  the casino or having the slot machine mindset you know quick money not working hard for their money
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  maybe that's why it's so popular in the social media world especially for the younger audience
• 4:45
  especially in particular for the younger audience I would say. I'm actually more curious because
• 4:50
  you sort of you've built yourself as a successful life and business doing things I would say the
• 4:55
  right way. Did you go through periods of your life where you tried the day trading and the things
• 5:01
  that were sort of a little bit sold to you like a quicker return. No actually so I'm a full-time
• 5:10
  trader now since roughly 11 years and I'm originally you might hear that from accent I'm from
• 5:18
  Germany but I moved to 2009 already so since I live in Dubai since 16 years now and when I started
• 5:27
  trading and I started trading 13 years ago I was starting yes with a little bit of day trading as
• 5:34
  well because I had a little bit of time on my hands and I always tell people you can start with
• 5:40
  day trading if you have the time because it gives you immediate feedback you know you get immediate
• 5:46
  results and then you know basically because you can create the more basically I'm trying to simplify
• 5:52
  it now for the audience a little bit the quote unquote the more trades you take the more
• 5:57
  sample size you have and the more you can you have more sample size more results and then you can
• 6:03
  tweak on your trading strategy and obviously you have more sample size quicker with day trading
• 6:08
  because you have a higher frequency of trades versus with swing trading because you have less
• 6:14
  frequency you have less sample size you it takes longer to tweak your strategy in a
• 6:20
  general sense right so I went through a period because I had the time I needed I wanted to
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  sample size I put a lot of effort in in my trading education back in the days so I was doing a
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  lot of day trading as well and then I created a certain certain sample size to tweak my strategy
• 6:39
  but then I used that strategy that I developed kind of moved it into swing trading longer term
• 6:45
  trading and tweaked it there a little bit as well so it was like a process I would say like
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  anything else in business as well like entrepreneurship but I always tell people don't look for
• 6:57
  a specific we could because trading we could classify and date let's there's even something else
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  that goes even that is even far like scalping high frequency trading but we don't have to discuss
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  that I would never recommend this to anyone right so let's say there's day trading and there's swing
• 7:13
  trading I would always tell people look for something that fits your lifestyle because you know people
• 7:20
  might be drawn towards day trading the quote unquote quick money but they have a full time job
• 7:27
  they have family they have kids they have hobbies they have social obligations they have life like
• 7:31
  we all have lives right so it's basically day trading is literally like a 9 to 5 job so the
• 7:37
  question is hey can you fit another 9 to 5 job into your life most probably for the majority of
• 7:44
  people the answer is no so don't even go that round right so and don't get disappointed so
• 7:50
  that's why swing trading or like the midterm to longer term trades is way more sustainable for
• 8:00
  for for the mass audience how did you so even walking through like sort of your life and you as
• 8:05
  an example so for somebody who's listening to this they're saying oh I want to quit my job and be
• 8:10
  a trader how do you actually go through that process like what did life look like set real
• 8:16
  expectations first of all I would never ever recommend quit your job and become a trader never
• 8:22
  ever I would say have a used trading is the I consider trading as the best side hustle in the world
• 8:29
  right and I my I emphasize on in side hustle right and not in full time job so people should have
• 8:38
  especially in the beginning multiple income streams and they should keep their job as long as
• 8:44
  possible and use trading as a side income eventually obviously doesn't work from the beginning you
• 8:50
  cannot make money from the beginning right we are we are we are real here in that podcast right you
• 8:54
  cannot make there's a there's a learning curve in trading like with any other business in the
• 8:58
  world because trading is a profession people have to like once they get into trading they have to
• 9:04
  shift their mindset from hey I'm starting a profession a reprofessional business like I want to
• 9:10
  become a pilot I want to become a lawyer I want to become an engineer I want to become a doctor whatever
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  it is it's trading is a profession like any other profession so they have to go with that mindset
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  into that venture because hey it takes some time to learn a profession and there's some like in
• 9:27
  life it's like ups and downs right it takes like it's not a steady learning curve it takes it's
• 9:31
  ups and downs so they have to approach it with that kind of mindset and well and then it's
• 9:39
  basically just takes time like anything else in life right and they have to have these realistic
• 9:46
  expectations as well maybe actually be helpful before we speak about too much but maybe it's good
• 9:52
  to actually define some like different things when it comes to trading so when somebody's first
• 9:57
  getting into the world of trading what are the different options like what are the different
• 10:02
  things they can actually think about because I guess where you start which is safest is just like
• 10:08
  the Warren Buffett version of investing where you just at least you you you you you can start with
• 10:13
  like a Vanguard ETF or some sort of like fund and then the next level would be like picking stocks
• 10:19
  and then the next level would be I guess then is the next level like swing trading where there's
• 10:23
  actually some paying attention to the market as opposed to just setting and forgetting it for
• 10:27
  years like what are the levels to this game yeah what is the levels in general I would always say
• 10:34
  the the foundation is always learn about trading in general about investing or trading because
• 10:42
  well I would never ever recommend for people to take some money and put it into any kind of
• 10:51
  market or financial investment when it comes to the markets without having any real skill or
• 10:59
  knowledge and what I mean is like specialized skill and specialized knowledge about the markets
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  so there's always you always need a foundation without foundation the likelihood that you might
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  lose all your money because you don't know what you don't know right and you're not skilled
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  it's very very high so regardless of where you start whether you want to just pick some stocks
• 11:24
  or buy an ETF or really want to be more active in the market you need to skill and you need to
• 11:31
  specialize knowledge otherwise it's very likely to backfire well I think we even we even saw this
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  last week even saw this last week yes it's a lot of crypto people getting wiped out because of
• 11:43
  their leverage on and and that's the problem right and that's why trading and I say it's
• 11:49
  funny because I said that yesterday in the podcast as well that's why trading has such a bad rep
• 11:56
  because people think trading is super risky because they hear these horror stories last Friday the
• 12:02
  market was super volatile especially in crypto and people because they're in crypto leverage they lose
• 12:07
  all their money and stuff but you know what because I don't and it's the problem the market is so
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  accept the market is accessible for everyone and since the market is accessible for everyone
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  and it takes you 60 minutes to you know to open up a brokerage account you use your debit visa
• 12:29
  card to deposit some money and then you place a trades you don't know shit yeah I know you don't
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  know shit but you consider yourself a trader because you have placed a trade right but is this really
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  like is this really the definition of a trader because right you have definition of engineers
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  definition of lawyers definition of doctors definition of whatever of any profession but when it comes
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  to trading the problem is that in trading there's no real accreditation system there's no real
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  certification system everybody can go out and sound smart about trading and talk about trading
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  trading and people are less smart and and think this person sounds really like articulate so let's
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  follow this guy and he could be full of shit and that's the problem when it comes to the market
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  because when you do it professionally trading I would say it's less risky than any other
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  profession in the world why because if you do it professionally you can always determine your risk
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  you can always determine what you want to risk per trade if I say now on this particular trade
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  regardless by the way whether it's a leveraged market non leveraged market this doesn't make any
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  this doesn't make any difference in on any trade that I take leveraged or non leveraged I as a
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  trader professional trader determine how much money I want to risk per trade whether it's like five
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  bucks five hundred bucks fifty million bucks anything in between that's the maximum amount I
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  can lose I determined that amount for every single trade and a professional trader does that and if
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  you don't do that you're not a professional as simple as it gets well no so when I was sort of
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  researching like who you are as a person and going down the rabbit hole I didn't realize how bad
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  this industry was like I mentioned before I kind of see some people because I see them on Instagram
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  and I talk about trading and whatnot but it's not like my main thing so I don't know it super well
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  I know investing because I invest myself I don't teach it I just pay attention and I've all I
• 14:29
  actually love what you said how if you are going to be like successful as an investor you have to
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  learn one thing better than anything else so whether or not it's like real estate it could be crypto
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  could be stocks could if you know one thing better than anything else there's a better chance you're
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  going to be successful at that thing so I love that you said that but I didn't realize how bad
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  trading was so I didn't realize that this industry is bad notorious for fake screenshots like
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  unverifiable claims people that are hiding their results and then I understood how you operate
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  and I don't even know what this really means but this 120 documented FTMO leaderboard entries and
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  all these other sort of signals and proof points that you do what you say you do so maybe give
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  people who aren't aware of what the trading world is like what some of the reality is is unfortunate
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  as it is so they're like sort of like they have a little bit more caution when they follow people
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  and then also speak about how you operate so that they can understand like what a legitimate
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  professional trader does and what they should look for if even if they don't follow you
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  what just to make them aware yeah well we could go down that rabbit hole it's like you don't even
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  want to know how shady that business is but you kind of awesome you stated it already in a way
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  that there's a lot of you know people fake screenshots they fake trading statements because there is
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  as I said there's no real accreditation system behind like there's no there is in general no third
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  party that verifies you as a trader like as an kind of overarching authority in a way that hey
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  he is he can classify himself as a trader and then that's why he can teach other people or
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  that's why he can make comments about the markets or give like trade ideas or a financial
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  advice doesn't necessarily exist in the trading world and that's why I would say bad people
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  trying to take advantage of that so but I would like to speak more about how I operate and when
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  that I also realized that there is a lack of transparency when it comes to trading and trading
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  education and you know who is quote unquote allowed to speak about trading and not so I
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  venture into prop trading beginning of 2022 I'm sorry mid of 2022 explain what that is exactly
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  I want to that so probably of course I explained that because people on this channel obviously might
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  not know what prop trading is prop trading stands for proprietary trading so these are proprietary trading
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  firms who can fund you as a trader with capital meaning the biggest obstacle that people usually
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  have when it comes to trading space so it's lack of capital right because if even if I have
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  even if I have ten thousand dollar in my trading account and for trader you know what to make
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  one to five percent a month is like realistic reasonable like one to five percent so
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  if I make one percent on a ten thousand dollar account per month it's like a hundred bucks
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  it's not necessarily life changing it's not a lot that's not a lot so you need a lot of capital
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  to make decent return because realist we we have to talk about realistic returns is to one to
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  five percent so now because of in recent days we have AI we have machine learning we have
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  technology being way more advanced than back in the days there's something called proprietary
• 18:24
  trading firms that can fund you as a trader and they fund you two hundred thousand dollars three
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  hundred thousand dollars four hundred thousand dollars can you can scale with multiple
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  prop firms they can fund you up to one million dollars and you can trade with their money so they
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  just obviously usually how it works they don't just you know here they give you the money here
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  take it and trade no it's like almost like a driver's license that you have to pass some tests
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  beforehand it's like you trade the markets and if you can like if you can achieve certain
• 19:00
  percentage gains in like a certain period of time then you're qualified to
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  become a funded trader to get the get the funds so you have to pass these tests they call it
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  evaluations and if you pass these trading evaluations you can get funded x amount of dollars now if
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  you get funded four hundred thousand dollars for instance now one percent a month makes a big
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  difference much more than your ten thousand yes it's not a four thousand dollar and four thousand
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  dollar one and by the way one percent a month is more than realistic if you're like a scale trader
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  only one percent right and then if you make like four thousand five thousand six thousand dollars a
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  month with a funded account well that's a big makes a big difference for the general person
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  right but does that not does some of that money not go have to go back to the
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  and that's it let me yeah exactly I want to do perfect perfect that you ask because you know
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  now people might think whoa I'm trading so much money what if I lose money now obviously you cannot
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  lose everything but whatever you lose you don't have to cover it you don't have to pay for it
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  because the firms the firm is covering it all right so you cannot lose any of your own capital
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  and if you gain money if you make like if you make like let's assume you make one percent which is
• 20:20
  on a four hundred thousand dollar account is four thousand dollar usually the profit split is between
• 20:24
  80 20 80 20 so 80 percent goes to the trader and 20 percent goes to the firm usually right
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  so then it's basically about 20 percent from of four thousand dollars what is it is eight hundred
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  dollars so three thousand two hundred goes into my pocket and eight hundred goes into the
• 20:43
  firm's pocket I understand so when it comes to prop trading there's literally no downside so
• 20:49
  usually I would say hey what sounds good to be true is to good to be true but but when it comes
• 20:55
  to and prop trading is really a game changer however as I said well when it comes to prop trading you
• 21:01
  still need one thing and this is skill yes and this is skill otherwise it's like it doesn't help you
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  in any way shape or no because no firm would ever lend the money to somebody who's unskilled because
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  of the huge liability no because you have to make the test usually the test yes exactly you have to
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  test and and that test you can repeat as many times as you want but well you will never pass the test
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  and you will never get to a repay out if you're not a skilled trader so you still need to learn
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  the skill how to trade but when it comes to the obstacle of hey I don't have money that obstacle
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  doesn't exist nowadays anymore because you have the prop firms who can fund you if you're skilled
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  trader so you're as a trader nowadays your primary goal is to look to become skilled as a trader
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  and then you can utilize prop firms to kind of leverage capital and scale your capital and go
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  from there which is amazing that's why you know I also want to say I'm not affiliated to any
• 22:04
  prop firms whatsoever I was never affiliated to anything else I just I'm having my own business
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  and stuff but I I feel like I'm a prop trading ambassador because it also changed my life because
• 22:18
  when I started I didn't know anything about prop trading even I was like in 2022 when people
• 22:24
  first showed me hey look look at look at these websites these are prop firms I was like I'm not
• 22:29
  sure this sounds so sketchy how can this be real well I think the way that I think about it is
• 22:35
  if you're for example just to draw a parallel if you're going to real estate there's investors that
• 22:40
  have money but they're not looking for real estate deals all day they have people who invest in
• 22:45
  real estate for them so if you're good at investing in turning a profit and generating a return on
• 22:50
  real estate they have capital they give you I assume it's a very similar mentality with these
• 22:56
  prop firms they're looking for skilled people that can get some sort of return exactly and this is
• 23:00
  where this is where the money there's lots of money in this world but yeah lots of but I think
• 23:06
  that that's where I mean if you have the skill set then you can then you can take somebody's
• 23:10
  money you be a steward of that person's money and you generate a return for them like that exactly
• 23:15
  so then I went into prop trading 2022 and back in the days I had already you know a lot of years
• 23:22
  of experience so for me to pass these tests was pretty easy you know this chain and then I got
• 23:29
  funded I got funded first two hundred thousand dollars and then I got funded four hundred thousand
• 23:33
  dollars at some point in time I was funded for point two million dollars even with all these
• 23:37
  prop firms together scaling but you know talking about your initial question the FTMO is FTMO's the
• 23:43
  biggest prop firm in the world then you know I was then once I was funded I received payout
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  monthly payout after payout and you know they have these leaderboards where the best traders show up
• 23:55
  with the best returns on a week daily weekly monthly base so after like one and a half years then
• 24:02
  in the beginning of 2024 I was awarded for the SD all-time record holder for FTMO with 120
• 24:08
  leaderboard appearances and in total until beginning of 2025 275 thousand dollars of payout based on
• 24:18
  that four hundred thousand dollar account that's amazing and what what makes you better what what makes
• 24:24
  you what makes you able to like is it the mindset is it the strategy I mean obviously the skill is
• 24:30
  the obvious answer it's it's the obvious answer and the simple answer there are nuances to everything
• 24:36
  obviously but I would say it's just my skill that I've developed over the years and usually in
• 24:43
  this business there are a lot of young people and they just don't have they can't just don't have
• 24:48
  the experience and the skill that I have just yet and I went and that's why I just said I went
• 24:54
  into prop trading in 2022 and I had already close to I don't know seven eight years of full-time
• 25:01
  trading experience so for me it was like you know like okay I'm I was already formula one driver
• 25:08
  metaphorically speaking so I was just sitting into another car and driving it you know safely
• 25:13
  whereas when somebody's new to that or has like little experience getting into formula one car
• 25:18
  they're going to crash the car continuously you know do you think that there is if you were going
• 25:22
  to boil down your experience outside of just putting in the reps is there something that a successful
• 25:27
  trader the way they think or the way they operate yes you know I I always like to say the end
• 25:36
  game of trading is once you get detached from money you get detached from the money because
• 25:42
  trading is literally a process game you follow process a certain process that is repeat that is
• 25:49
  objective and that is repeatable and that process you follow for each and every trade it's a repeatable
• 25:55
  process it's it's quite boring to be honest it's boy it has to it has to be boring and you know
• 26:02
  the result is the money so if you follow the process right every single time the
• 26:09
  end result of following the process correctly is money so money can never be in front of the
• 26:15
  entire equation money is always at the end of the equation you know the process comes first so
• 26:22
  I I felt like once I slowly got in the beginning and I get it we are all also in for the money
• 26:29
  it's part of the game trading is to make money but you know once you in the beginning when you're
• 26:36
  very money centered very money focused you're chasing the money and then you're making also bad
• 26:42
  decision usually because you're acting emotionally based on fear or creed or whatever but
• 26:48
  once you establish like really a trading strategy it's it's called a trading strategy which is
• 26:53
  then basically following that process that process is your trading strategy that you have
• 26:59
  written down in your trading slash business plan because you're running a business in this case
• 27:06
  so you have to have and then again I'm asking people hey you're a trader so do you have a trading
• 27:11
  plan meaning a slash business plan but all the best ones were all the best ones would have
• 27:17
  exactly because this is where you write down needy greedy your trading plan your rules basically
• 27:24
  do follow your process when so when you work with them like these prop firms before you even get
• 27:29
  so say for somebody who's starting out with trading so you were you focus on swing trading you
• 27:35
  obviously have your trading strategy this trading strategy yields x percent per month in returns
• 27:40
  this is and you've passed all the tests now you have the prop money and somebody's just getting
• 27:44
  started they want to get to where you are which is obviously 11 12 13 years of experience but
• 27:50
  they want to do they want to get to where you are in the quickest way possible so do you recommend
• 27:56
  a certain kind of asset that you invest in do you recommend swing trading as sort of like the
• 28:03
  least stressful form of trading like what are sort of like the the main things that they should
• 28:07
  focus on out of the gate so that they don't maybe waste as much time getting to where you got
• 28:12
  yeah that's a different that's usually a difficult question because these days it's you know you
• 28:17
  have to imagine when I started off like 13 years ago the world looked different especially when it
• 28:25
  comes to the online social media trading space I call it there was much less noise these days it's
• 28:33
  so hard right I mean if you just if you just type into Google learning how to trade or how to
• 28:40
  learn you know how to trade the amount of information you get it's like information overload so it's
• 28:46
  really difficult for people to I I don't want to get started these days I'm glad that I'm like
• 28:51
  already that but that's why there's no real answer to that what I what I so what I tell people is
• 29:00
  don't focus like you don't focus on one asset like I consider myself a multi asset trader trading
• 29:05
  forex futures and stocks so everything so there's something like called the power of
• 29:14
  correlated markets right multi as you have multi asset correlations stocks impact equity
• 29:20
  indices equity indices impact crypto and you have like currencies the dollar impacting all the
• 29:26
  other currency like it's like it's all kind of correlated in a way you see you see these patterns
• 29:31
  across all these different assets yeah yeah yeah yeah yeah it's very predictable on a longer term
• 29:36
  horizon so that's why I I would not focus necessarily on specific asset classes but on more like
• 29:45
  learning the skill meaning the strategy and the strategy should be applicable on all asset classes
• 29:52
  this should not be a strategy that because these days you see on social media hey the strategy is
• 29:58
  only applicable on one single market which is then usually for me it's already red flag because
• 30:04
  if you have a strategy that strategy should work on just any chart on any market that you look at so
• 30:09
  you can objectively analyze the market you could you should even like okay I don't even know I just
• 30:15
  see the chart I don't even know what market that is could be could be Bitcoin could be the Dow Jones
• 30:21
  could be euro but you can objectively analyze the market and anticipate with a very high probability
• 30:28
  what is about to happen next in in the in the near future without even knowing what it is exactly
• 30:34
  without even knowing that it is and that should be your strategy should be capable of doing exactly
• 30:43
  that so make sure you learn the right strategy and everything else is then just coming on top
• 30:50
  right but the foundation it's like a house of cards right your foundation is basically your
• 30:55
  strategy you you building your skill and that should be like correct everything else is if you
• 30:59
  bid on a faulty strategy and a bit on a faulty you know based and it just needs to fall apart
• 31:06
  is there any other benefit outside of capital so unlimited truly unlimited upside if you know
• 31:13
  what you're doing and you have the skill set there's limited downside because the firm covers the
• 31:21
  downside if there's a lot of tests understood is there benefit outside of capital that working because
• 31:27
  again like I would actually ask like is there a certain point when if you do make enough money does
• 31:32
  it actually make sense for you to keep borrowing from a prop firm for capital or does it make sense
• 31:37
  for you to just like go it on your own I know I mean you can do both in parallel as well right then
• 31:41
  you scale even more it's all about scaling capital at the end of the day but you know for me as
• 31:46
  because I consider myself also an educator online educator I'm I'm in the social media space
• 31:51
  educating people for me it was actually when I went into prop trading it was more about it was not
• 31:57
  about the money it was more about hey there you get like third party verified results so you get
• 32:03
  literally and if you go on my social media you see these payout certificates in this case FT
• 32:10
  out certificates where you have a QR code on it you can scan it on the phone and then you get
• 32:16
  let on another website from FTMO and see if this is real if it's real so then it's third party verified
• 32:23
  so for me it was always like as an educator as we established in the beginning there's no real
• 32:29
  certification accreditation system overarching you know system that can verify that your trader or not
• 32:35
  you need to if you're like an ethical person you need to find ways to verify yourself so I saw
• 32:44
  this kind of wow cool I get these payout certificates every other month and they have like these
• 32:51
  QR codes their third party verified by this company so this verifies me as a real trader because I
• 32:58
  can literally I'm like quote unquote the needle in the haystick because I can have these certifications
• 33:04
  that others don't so for me it's like okay this is like my proof my way to show transparent
• 33:12
  results in a way to have like okay look I have that hardly anybody has that as well so you know
• 33:20
  it sets you apart it sets me apart really how bad the industry is it's so few people are the
• 33:24
  legitimate it's even worse but I don't want to scare the people here because obviously there's
• 33:30
  also no but you're giving people ways to verify yeah yeah you're giving exactly and that's so
• 33:34
  that's so good so don't just trust any kind of hey because what people do they take them mobile
• 33:41
  they show it into the camera look how much money I made this is like you know the young audience
• 33:45
  on social media look how much money I made today I bought I buy this new car now and so
• 33:51
  don't believe in this kind of nonsense right get find traders who have some verified documents
• 33:57
  results maybe from prop firms author party companies whatever it is but find something that is legit
• 34:05
  and don't fall which was like some simple screenshots quick question what's your go to when you
• 34:10
  got 10 minutes before a meeting or a workout for me it just used to be whatever I could grab which
• 34:14
  usually meant skipping meals entirely or just grabbing something that left me crashing an hour later
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  and honestly it's solved the whole back-to-back meetings go go go non-stop no time to eat problem
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  super well and this one's new for me it's fuels daily greens I had the blueberry this morning
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  machine learning for free that's net sweet dot com slash scott clary that's net sweet dot com slash
• 36:47
  scott clary net sweet dot com slash scott clary swing trading so explain what this is like what's the
• 36:55
  time horizon that you play with so I'm trying to do this as to explain as simple as possible we
• 37:03
  already established their trading is being categorized in scalping which I would never recommend
• 37:08
  high frequency trading you have day trading where you execute on also quote unquote smaller time
• 37:14
  frames where you look at five minute charts 10 minute charts 50 minute charts where you execute
• 37:20
  in a minute in that minute and you know trades last maybe for maximum 60 minutes maybe between
• 37:27
  five minutes to 60 minutes a very short period so very short time horizon like within the day you
• 37:32
  you literally close your trades on the same day right and then you have swing trading where
• 37:40
  I for myself but I'm now a professional trader I analyze the markets during the weekend the markets
• 37:47
  are closed and then I make my setups my trade my trade watch list so to speak the markets that I'm
• 37:54
  interested to trade and then when the week starts whether it's Monday Tuesday I can place these
• 38:01
  trades in advance so the market is not the market is basically so when I want to let's assume like
• 38:09
  I'm trading equity and you see so let's assume I'm trading stocks apple so I'm highlighting in
• 38:14
  area where it's like oh if price comes down here I want to buy apple but only if price comes down
• 38:20
  here I want to buy at a quote unquote discounted price for me right if price never comes down here I
• 38:25
  never going to buy apple but if price comes down here to that certain area where you find hey this
• 38:30
  is a discounted price so to speak I want to buy apple right so I can set these trades in advance
• 38:37
  right that's why I call it set and forget and get a life so you set these levels in advance
• 38:42
  these trades in advance and then you see if the market's gonna play out or not and if it doesn't
• 38:47
  and it doesn't move in that direction then you don't lose anything I don't lose anything and even
• 38:51
  if I lose something because you have as a professional trader every trade consists three elements you
• 38:56
  have an entry point where you enter the market a stop loss which is your safety net and this is
• 39:01
  when I say trading is a is trading is always calculated risk is less risky than any other business
• 39:07
  because the difference between so the gap between entry and stop loss this is your risk so and you
• 39:13
  define that risk you define how much risk you're gonna take am I gonna take a thousand dollar risk
• 39:17
  on this trade am I gonna take five thousand dollar risk on this trade am I take 50 bucks risk on
• 39:22
  this trade right any number you define so if it hits your stop loss if you were proven wrong
• 39:27
  because trading is about also being wrong right um then it hits your stop loss but you
• 39:32
  predetermined the amount you're gonna lose then you move on and you move to the next trade and the
• 39:37
  third element of a trade is your target so if it goes into a discounted price if you buy it and
• 39:43
  you were right it goes into your target you make X amount of profit right we call this again we
• 39:48
  could go deep into this rabbit hole risk to reward proposition you always try to make for every
• 39:53
  dollar you risk you try to make two bucks so you have a one to two risk to reward proposition in
• 39:58
  trading and if you do this this is a weekly where you look at the markets how many how many bets
• 40:03
  are you making so how many ideas do you have yeah so yeah exactly and this is depends on the market
• 40:08
  and then as again you on the on the new place your trades um and then you really throughout the week
• 40:14
  you basically need again as a professional if you already skilled yeah right yeah we talk about
• 40:19
  me as a skilled trader and you know what you're looking for exactly so it takes me it takes me then
• 40:24
  you know during the day 15 to 30 minutes maximum I don't even see an hour because it never takes me
• 40:32
  an hour on a daily basis to kind of follow up with my trades look at the market what's happening
• 40:37
  and that's it right very it's not a lot of time and that's why it's exactly so with this kind
• 40:43
  of trading approach as a professional right obviously again if you're new to it you need much more
• 40:49
  screen time you need to learn right nobody can take away the screen time we talk about me as a
• 40:54
  professional it takes literally no time at all during the week to do like sit in front of the
• 41:01
  screen and really actively trade it's basically just following up right and this is what I also
• 41:07
  firmly believe in because this gives you so much time freedom and flexibility I yeah that's amazing
• 41:14
  and and sometimes people criticize they say yeah but you barely have any trades but when you say like
• 41:21
  a day trader who trades maybe takes five to ten trades a day versus me who takes one or two trades
• 41:31
  and then people have that preconceived notion about higher frequency of trades equals more money
• 41:39
  right more trades makes more money that's what people might think but it's actually the opposite
• 41:44
  more trades usually because you take lower quality of trades you make more human mistakes you
• 41:52
  actually usually what I've seen based on my experience more trades results in losing more money
• 41:59
  actually in the opposite because also here when it comes to trading the only variable that people
• 42:05
  also usually don't understand the only variable that is important is scaling capital that's why
• 42:11
  also when it comes to trading trading is one of the only business in the in the world where you
• 42:17
  if you want to make more money you don't have to invest more of your own time because the only
• 42:22
  variable is scaling capital you have to imagine the strategy the foundation the way how I execute
• 42:27
  is always the same the only thing that changes is my capital so it's leverage it's the leverage exactly
• 42:34
  right so that's why it's trading is that's why I consider trading the best side hustle in the world
• 42:38
  because it never requires more time to make more money it only requires what more capital and you
• 42:43
  can get more capital through propped firms these days people people seem to they just rush they
• 42:50
  rush but this the mentality these days they just rush because there's so many different shiny
• 42:56
  objects that people on social media dangle in front of them and I think they just get overwhelmed
• 43:01
  and they just try they try everything they lose money it's not for me yeah and they blame everything
• 43:06
  but themselves that's a problem yes there's so many that's a big problem it's a huge problem
• 43:15
  there's so many words associated with trading so there's futures there's using leverage like not
• 43:21
  financial leverage but they're using like leverage on the money that you have there's options there
• 43:27
  like simplify it what are all these different things there's futures like what are all these
• 43:32
  different things that people are trading what should is this stuff that's just more confusing than
• 43:36
  anything like there's something to just focus on to start because all these different like asset
• 43:40
  classes but then there's different ways to look at every single asset class and I think again for
• 43:44
  the average person it gets very overwhelming yeah it's very overwhelming I mean I when I started
• 43:49
  trading I started trading stocks first for one stocks are easy it makes sense so yeah
• 43:57
  so very easy very easy so right and then I was introduced to futures and when I was introduced
• 44:05
  to futures all of a sudden I was so you can trade these markets right you can trade leveraged
• 44:11
  markets now I was then realizing wow why did I ever trade at stocks because this is so much more
• 44:19
  efficient to trade any less capital and I can make the same amount of gains and again we talk
• 44:24
  about calculated risk so the risk doesn't make any difference whether I trade non-laveraged market
• 44:29
  or leveraged market you as a trader should always you should always in advance how much money you risk
• 44:33
  on a particular trade I hope we established this by now for the audience so really leverage is not
• 44:39
  a deal breaker at all leverage is actually helpful because leverage can help you you know trade with
• 44:46
  less money and make the same same returns so leverage should be your friend not your enemy if you
• 44:52
  if you do it right so then I was introduced to futures and then in the futures market you can trade
• 44:56
  all these markets like equity indices right Dow Jones NASDAQ S&P Russell you can trade commodities
• 45:02
  precious metals gold server and so on and so forth and you can trade agricultural products corn
• 45:07
  soybeans weed like it's it's it's crazy and you can trade currencies as well the euro dollar
• 45:12
  index the Mexican pays or whatever you can trade literally all the markets in the world with
• 45:18
  futures so then I was and I was like okay why did I ever trade at stocks if I can trade futures
• 45:22
  right so then I was trading with my whole life futures so I consider myself actually a futures
• 45:26
  trader but then I because of prop trading because prop trading is very popular in the fx space in the
• 45:33
  Forex space Forex in general has a bad also bad rep because it's unregulated and usually a lot of
• 45:40
  scams happened in the Forex market but the problem is that it's not the market it's it's not the
• 45:46
  markets fault it's the people's fault all the time so don't blame don't blame fx fx it's not the
• 45:51
  the black sheep here it's just a market it's just a it's just a asset class exactly like nobody says
• 45:56
  stocks are scam right well they they might be even what I got more scam because they can be
• 46:03
  you know manipulated by a single individual because they're the volume is not so high then
• 46:07
  as opposed to like a currency currency exactly not a single person can manipulate it but we have
• 46:13
  seen that stocks can be manipulated by single people so powerful people so don't blame the market
• 46:19
  as scammy blame the people behind who like offering certain products so it's just another asset class
• 46:26
  so and and then obviously I went into because fx by the way fx is not necessarily only Forex you
• 46:33
  can also trade equity indices in the fx base you can trade even stocks in the fx base you can
• 46:38
  even trade you can trade all the markets that are inside the stock market inside the futures
• 46:43
  market in the fx base fx stands just it's just the umbrella for then you have derivative market
• 46:49
  and and and can prop trading be applied to actually also help me understand the thing what's
• 46:55
  it between leverage and prop trading because there is a difference well no no because prop trading is
• 47:01
  um so usually prop trading you have you have futures prop trading you have fx prop trading
• 47:07
  trading can apply to anything prop trading can apply to anything even to there's even like
• 47:13
  prop trading firms that offer just it's just for stocks trading right so prop trading is just
• 47:18
  the umbrella and then you just put the asset below and then you trade you do like futures
• 47:24
  prop trading fx prop trading stocks prop trading but the concept is usually similar or the same
• 47:31
  and usually all these are leveraged markets tennis all leveraged markets so when when there's
• 47:38
  news headlines like people in crypto get wiped out because they're over leveraged what did they
• 47:44
  do wrong they bet their house on it so they said they said I want leverage I want because I
• 47:52
  just I've only really learned about this in the past week and it's like I want five x 10 x 20 x 100
• 47:58
  x leverage so I've learned that you have your you have your capital and then you leverage your
• 48:04
  capital but if it if so it can go unlimited upside but if it goes down too much or so it's very
• 48:09
  simple like if in the fx base you have firms that let's you have a one to 100 leverage right
• 48:16
  meaning you have a thousand dollars you buy like they call it one lot or one contract depending
• 48:21
  on what asset class you're trading and then you're controlling a hundred thousand dollars of capital
• 48:26
  with like a thousand dollars of your own money right so you used that one thousand dollars of your
• 48:32
  own money as a deposit and you can control a hundred thousand dollars of capital now and people
• 48:38
  play this game imagine you have a fifty thousand dollar account and then you have 100 x 100 x leverage
• 48:44
  like imagine you can how much you can control and then people just risk too much money so they
• 48:49
  risk too much of their own money exactly so then it's very simple exactly but then it's very easy
• 48:54
  because then they don't have proper risk management in place they don't have these stop losses in
• 48:58
  place they risk way too much money then they have in their own account as a deposit on a simple
• 49:04
  trade because they hope in their mind hey I bet all that money it just has to go a little bit
• 49:09
  into my direction and I make like two three four eggs on a single trade in like in a quick
• 49:15
  period of time it's uneducated greed wrong mind it's everything because leverage is then different
• 49:22
  than prop trading because prop trading you can't lose your principle I'm assuming if it goes
• 49:27
  down to a certain point but like well you can lose then you will lose the account you will lose
• 49:31
  you will lose the account right if you if you if you so so now if you use leverage with your own
• 49:38
  capital and you use leverage unresponsibly you basically can wipe out your account in seconds minutes
• 49:47
  days and it's very likely that eventually right we call it the beginner's luck phenomenon
• 49:53
  it's like you're lucky one you're lucky twice you're lucky three times but eventually it
• 49:57
  would bite you in the butt and you will you know lose everything like what happened with crypto
• 50:00
  exactly and prop trading you use also the same principle leverage but you don't use your own
• 50:04
  capital so the only thing that can happen is you well you're gonna lose your your account that
• 50:09
  you paid the test for right you don't lose anything from your own hard earned capital when you
• 50:16
  on the weekend you're looking at what you're gonna do for the week what are you looking at that
• 50:20
  retail trade like retail investors maybe they miss like are you looking at what Trump's saying
• 50:25
  are you looking at because this is what seems to move markets now it's just the chaos but you
• 50:31
  seem to find a way to and that's again it's a very preconceived thought and it's a myth as well by
• 50:36
  the way like because if I let's assume because we established or I said I tried to establish that
• 50:44
  we're following a process and the process has to be repeatable and objective now if I look what
• 50:49
  Trump said is that repeatable is that objective not at all not at all right it's the exact opposite of
• 50:58
  what I'm trying to convey what I'm trying to do with my what I'm doing with my strategy so I try
• 51:05
  and I do this quite well I really I don't know anything about what's ahead I'm really like
• 51:12
  shutting down my doors my ears I'm not listening to any outside noise I couldn't care less
• 51:18
  I only try and I'm only what I'm doing is what what is in front of my screen analyze what I can
• 51:24
  objectively analyze on that particular market and again this is I don't want to go too deep
• 51:32
  into this rabbit hole because again this might be overwhelming the people especially for the
• 51:36
  people who have maybe never seen a chart or never really analyze something but I like to combine
• 51:41
  something that is called I call it a two step mechanical process I look at fundamental
• 51:45
  uncertain fundamentals to create a market bias to be like whether I'm biased bullish or bearish
• 51:52
  and once I'm like bias in a market fundamentally I use technical so a chart itself to time my market
• 51:59
  to place my entry stop loss and my target very smart and this is so this is like listen again I'm
• 52:05
  probably one of these people that just invest casually but I still understand because I you
• 52:11
  know sometimes I live on Twitter and I see what people are talking about and I still understand
• 52:14
  that people like look at how charts are trending and they try and sort of map out where it's
• 52:18
  going to go into the future so there's validity to this and this is what you're looking at as
• 52:22
  opposed to reading news or listening to what Trump saying or wondering what's happening in Ukraine
• 52:27
  like you are not paying attention to that I'm not paying attention at all to that not at all I don't
• 52:33
  even sometimes know what's going on I don't want to even know because it could like even subconsciously
• 52:38
  maybe it probably could your human in human exactly influence you know my decision making so I'm
• 52:44
  trying to really I'm never watching news don't look at headlines I'm trying to at least and just
• 52:50
  do you know my thing because it's proven to work right and I'm trying to convey this message
• 52:56
  because people sometimes say yeah the market is moving now because he said that he tweeted that
• 53:02
  and this because this and that is happening no the market is moving for way other reasons because
• 53:07
  not somebody tweeted because there's other factors why a market is moving and not because a random
• 53:15
  guy okay not random but because a guy is tweeting something this is nonsense when when you look at
• 53:20
  the biggest misconception you mentioned this is one of them but other big misconceptions that people
• 53:24
  have about trading they're very basic misconceptions like you need to be you need to be the smartest
• 53:33
  guy in the room to make it and trading I might I might sound too complicated for a lot of people
• 53:37
  who are watching as well but I always say I'm not the smartest guy in the room never ever like I was
• 53:42
  less than average in school and university and I barely made it that's all so I'm not the smartest
• 53:46
  guy in the room trading is a skill then can be in theory learned by everybody if you do it the
• 53:51
  right way so it's a skill then also when it comes to trading you don't need like five three what
• 53:57
  you see in movies and on social media that people have like these walls full of screen and wow it's
• 54:03
  like overwhelming like once singing laptop is modern enough you can and you know you don't need any
• 54:09
  kind of advanced software everything these days is browser based so when it comes to people are
• 54:13
  sometimes afraid wow because of technology they might be not too advanced they're older generation
• 54:18
  that's why they're like maybe hesitant to get started you do see some pretty ridiculous things
• 54:22
  on on YouTube and Instagram with like the the the five different screens even I have that but you
• 54:28
  know I I'm even I have that you know in my maybe I've seen it in my YouTube videos in the background
• 54:33
  but it's not it's really just for I love tech and it's just for show of purpose you know on
• 54:38
  it makes the video look good it makes it makes the video look good but I don't need it to be a better
• 54:42
  trade I off I like I'm that's real that's real I'm saying that I can say that so that's one and then
• 54:51
  you know sometimes people don't I know also if you're really completely new to the markets
• 54:55
  that the when it comes to professional trading that trading is also great because it's recession
• 55:00
  proof because you can make money on both sides upside and downside right you can make money on
• 55:04
  buying something but you can make money on shorting something which is basically a reverse
• 55:09
  trade so just because it's very simple terms so it's recession proof so it's great yet you
• 55:14
  don't have to care about how the economy is going to do and like it's doing because you can make
• 55:19
  money on both this is a very useful skill then it's a very useful skill exactly that you where you
• 55:24
  can survive during times of recessions or even depressions who knocks right so if you look at
• 55:30
  right now you trade forex futures stocks you still trade all is there anything else that you
• 55:36
  know that's basically these are also the asset classes right I mean yes they are not options not
• 55:41
  an asset class it's just a derivative like exactly so and crypto can be these days also
• 55:45
  considered as an asset class I'm not actively trading crypto why not and I'm old school I never
• 55:53
  really needed crypto to make money and I just stick to my guns so I feel like when it comes to
• 56:01
  crypto and I might gain a little bit of hate when I say that but I
• 56:09
  that crypto especially you know there's the entry barrier is even lower and especially
• 56:16
  with these altcoins and stuff like whatever they are that's because even if you apply these
• 56:21
  fundamental principles to it bad actors can influence something more than so you're trying to
• 56:26
  eliminate all the variables I'm trying to eliminate exactly and attract a lot of people who
• 56:32
  with the let's with the wrong mindset who just wants to make quick quick money who buys
• 56:38
  who buy like one shit coin and hope for like the 100x that solves all their problems that
• 56:43
  accumulated throughout their lives it attracts a lot of these people so if you want to trade Bitcoin
• 56:49
  and Ethereum like professionally that's perfect but everything else I find a little bit yeah because
• 56:54
  then you can't then you can't apply the same pattern you can't exactly so you cannot apply
• 56:58
  the same patterns that I'm using exactly so when you think about going into 2024 2025 and 2026
• 57:06
  like what is market outlook for some of the things that you do focus on so forks futures and stocks
• 57:10
  wow so this is also like a topic we could fill a whole podcast with to be honest and what I'm
• 57:18
  doing is always and people find that on my youtube channel I have my youtube channel now since
• 57:23
  roughly 205 years it's going very well and 150 000 subscribers doing really well and I'm
• 57:30
  sharing a lot of free value there and in the beginning of the year and like usually mid year or
• 57:36
  if there's some important events or anything happening in the market I do some market outlooks
• 57:41
  in the beginning of the year I always do like some stock market outlooks like for the equity
• 57:45
  indices for the Dow Jones for the whole like for the whole US stock market basically
• 57:52
  and I have to say these and people can watch that these are these are online on my youtube channel
• 57:58
  fully transparent these outlooks are pretty accurate that I make for always the years ahead for
• 58:06
  the year ahead and so because it's most most most likely the viewers are US based your viewers right
• 58:14
  so they are maybe interested about kind of a stock market outlook right of course everybody is
• 58:23
  for now it's quite interesting because there's something called and let me elaborate a little
• 58:28
  bit on that yeah for sure there's something called president election cycle seasonality these are
• 58:34
  market cycles so the US president is being elected every four years so this market cycle
• 58:42
  every year is a separate market cycle so you have Election Year cycle you have
• 58:51
  after the election year cycle you have to post Election Year cycle we are right now in the post
• 58:56
  election year cycle then you have the mid term cycle and then you have the pre-election cycle
• 59:02
  where the whole thing starts again and then you have again the elect and the whole four year
• 59:06
  market cycle starts again. And the stock market behaves quite interestingly. For whatever
• 59:15
  reason, we don't know the reason, but it does statistically proven behaves very accurately
• 59:21
  based on these four cycles. And you can prove this because the Dow Jones exists since
• 59:27
  130 years. And you look at these single year cycles and you accumulate them and you get
• 59:34
  like a very nice thing. It's called seasonality. That's why it's called election cycle seasonality.
• 59:38
  You get like a pretty throughout the year, throughout the quarters of these cycles. You
• 59:43
  get a very accurate trend. How the market is behaving. It's super interesting. And it
• 59:48
  works very, very well. So we are and that's why in in the beginning of 2025, it's post
• 59:56
  elect. It's we are in we are right now in the post election cycle. So post election
• 1:00:01
  cycles, they do very, very well. So an average post election cycles, they have a nine. I
• 1:00:08
  don't don't quote me on the exact return, but it's I have them on my mobile, but on average,
• 1:00:15
  I think nine to 10% return on post elect. Very good. It's very good. Exactly. It's it's actually
• 1:00:21
  the second best cycle of them all. The best one is pre election cycle, I think. Again,
• 1:00:28
  I have their exact numbers on my phone, but don't quote me on that. It's also not so important
• 1:00:32
  right now. What is important is that post election cycles are always super, super strong.
• 1:00:37
  And they're always ending up, well, you're ending up, if you bought in the beginning of
• 1:00:42
  the year, one of the indices, whether it's the SMP, the Dow or the Nasdaq, you're ending
• 1:00:47
  up with a positive return with a big positive return. And I made these predictions, you know,
• 1:00:54
  in the beginning of the year and then give like these outlooks. And then I'm always like
• 1:00:58
  so surprised by all these crash profits. We're saying, oh, this year, the market is, you
• 1:01:03
  know, going to going down and we are like seeing another recession. And it's like Armageddon
• 1:01:09
  is in front of the door every year. It's like that. And every year is like that. And you
• 1:01:13
  have like famous people saying that, like people who are kind of quote unquote credible
• 1:01:19
  when it comes to the financial market. What's going on? It's not thinking it's, or they
• 1:01:23
  just, I'm not sure if they, I don't, I'm not sure if they do it for, if people, I, if
• 1:01:30
  they do it for clicks or whether they're doing it for, they really don't know, or they're
• 1:01:35
  doing it for, I don't know, just I really don't know. Maybe they just really have no idea
• 1:01:39
  what's going on and what tools you can use to anticipate the market. So, and there's
• 1:01:46
  something called the end of the, the Q4, the end of the year rally in post election cycles
• 1:01:52
  and it's super strong. And if you look at the NASDAQ, for instance, so it's mid October,
• 1:01:56
  if you buy the NASDAQ first of November until end of December in post election cycle years,
• 1:02:04
  out of the six post election cycle years, the NASDAQ always gained at least 6.84% or so
• 1:02:12
  roughly, roughly seven percent gain. If you just bought the NASDAQ in November, first
• 1:02:17
  of November, held the NASDAQ until end of December, on average in post election cycle
• 1:02:23
  years, in the past six post election cycle years, you made an average roughly seven percent
• 1:02:27
  gain and you never lost. So, it's like statistically proven that, hey, if you buy the NASDAQ
• 1:02:33
  in post election cycle years in this period of time, it's very likely high probably, it's
• 1:02:38
  high probability that you can make money, right? And this is how I look at the markets in
• 1:02:44
  this case, in equity indices all the time. How many more cycles are there like that across
• 1:02:52
  every, are there a lot of stuff exactly? But you just have these cycles that you know,
• 1:02:57
  and then you know, but for equity, but for equity indices, the cycles are really, really important
• 1:03:01
  because the president election impacts the markets so, so much. And by the way, what is also
• 1:03:07
  statistically proven that it doesn't matter whether it's like a democrat sitting as a president,
• 1:03:13
  or whether it's a republican, the markets still move the same way, right? Because people are always,
• 1:03:18
  I'm always, this is always funny if you watch it, like they are, they're like on in the media outlets,
• 1:03:24
  they're questioning, what happens if front becomes president? What happens if X becomes president?
• 1:03:28
  Like, how does this influence the market? It doesn't. The market moves because of that these
• 1:03:33
  election cycles, these, these election cycles, these inality because of these market cycles,
• 1:03:38
  regardless whether it's democrats or or republicans. And this is statistically proven,
• 1:03:43
  this is really, really interesting. Plus, I could go even deeper down that rabbit hole and let me do
• 1:03:49
  it for five minutes because it's super interesting. There's something called the dissanial patterns.
• 1:03:55
  And the dissanial patterns, this was researched by a guy called Edgar Lauren Smith.
• 1:04:03
  He was a trader, he was born in, also you don't quote me on the dates, I think 1881 and died in 1971,
• 1:04:14
  so he was very, very old. And nobody knows this guy, Edgar Lauren Smith, but Warren Buffett
• 1:04:20
  once said to quote Warren Buffett, Edgar Lauren Smith is one of the best trader he has ever witnessed.
• 1:04:27
  So why did Warren Buffett say that? So Warren Buffett looked at the Dow Jones performance
• 1:04:36
  since start of the Dow Jones 130 years back. And he checked the Dow Jones performance in every
• 1:04:44
  single year. So he is ending with zero, he is ending with one, he is ending with two, he is
• 1:04:50
  ending with three, he is ending with five, six, seven, eight, nine, zero, and looking at every century.
• 1:04:56
  And then he was looking, hey, can I, can I make an assumption how the market is behaving based
• 1:05:05
  on the year ending with five or years ending with three? Is there any kind of statistical evidence
• 1:05:14
  that a market, that the stock market with the year ending with five, four, three, two, one, zero
• 1:05:22
  is moving in a certain way. So he died in 1970, something, so he couldn't continue his study,
• 1:05:30
  but there are people who continue to study. And I, we as a team, I am also continuing doing his
• 1:05:36
  study because the finding is crazy. You have to imagine that years ending with five, we are now
• 1:05:43
  in 2025, right? So this is called the disanial pattern of all. So we are now in the year ending with
• 1:05:50
  five. So 2025, 2015, 1995, 1985, and so on. So all the years ending with five, if you had just
• 1:06:00
  bought the Dow Jones or like any of the indices, but in this case, the study is done on the Dow Jones
• 1:06:06
  because of the 130 years of existence. If you just had bought the Dow Jones in the years ending
• 1:06:15
  with five, out of 14 years ending with five, you would have made 13 gains and only one loss
• 1:06:25
  and that loss would have been like almost a break, even trade 0.1 percent down. And overall,
• 1:06:31
  an accumulative profit of roughly 300 percent. That's why the years ending with five at Galoran
• 1:06:38
  Smith, considered or called it the phenomenal five. So years ending with fives are always exceptionally
• 1:06:47
  strong. So to combine now, presidential election cycle, which is we are in post election cycle,
• 1:06:54
  it's very strong plus disanial pattern, we are in the year ending with five. So it's a phenomenal
• 1:06:59
  five that combined in the beginning of the year, I was like, whoever is not buying stocks is stupid.
• 1:07:08
  Made this video out. I made this outlook twice. I had two 2025 outlooks on my YouTube channel,
• 1:07:15
  fully transparent. I said, guys, it's time to buy. We are in disanial pattern, years ending with
• 1:07:19
  five, you're in post election cycle, regardless of what you hear, regardless of the chit-chatter,
• 1:07:24
  you know, whether there's war or not war, like whatever Trump is saying, the mark is going to be
• 1:07:30
  bullish as hell because of these two statistical reasons. It's crazy. It's really insane. And people
• 1:07:36
  don't know about that stuff. Or maybe they know and they don't want to public, but I'm publicly,
• 1:07:40
  you know, like, and with all transparency, I'm like putting it out and people should see that
• 1:07:46
  because it's so important for people like for investing purpose. It's tremendously important.
• 1:07:52
  I agree. Most people don't know that. Why don't they put it out? I don't know. I feel like most
• 1:07:57
  people make the assumption, the incorrect assumption that again, like world events impact markets more
• 1:08:01
  than these decade-long patterns. But it's interesting because throughout the past 100 years,
• 1:08:07
  you have wars, you had wars, you have catastrophes, you have like external events that you cannot
• 1:08:15
  influence. You have so many things happening, but the market is still behaving in the same rhythm
• 1:08:20
  statistically proven. There's no one understands why. Nobody cares. I mean, you don't have to care.
• 1:08:27
  And it's so good about trading. I don't know why this is the case. Are there deep forces like,
• 1:08:35
  you know, we just don't know and I don't care. I just know, hey, and this is very important,
• 1:08:42
  like from a mindset point of view as a trader, like to really, okay, does this information here
• 1:08:50
  can make me money objectively? Yes or no? Can this add to the probability of my trade? Yes or
• 1:08:55
  no? If there's no excluded from your trading strategy, if it's yes, then perfect because you have
• 1:09:01
  to be careful. Like now when you have decades of data, obviously, there's no bias involved. But
• 1:09:06
  if you have a short term amount of data, like a short short, like if you look over 10 years and
• 1:09:12
  you don't have like historical examples, then you can make mistakes based on some sort of biases
• 1:09:17
  that you have, but not if you have like 10, 20, 30, 40, 50 years of data. It's enough, it's enough
• 1:09:24
  statistical evidence to make like to get into to become fundamentally biased, meaning am I bullish
• 1:09:32
  this year, this quarter, this week, or am I bearish this month, this year, this quarter,
• 1:09:38
  or am I neutral? And if I'm neutral, I don't have any kind of statistical edge, so I'm staying
• 1:09:43
  away from the mark. And when you have, so these are obviously multi decade signals that you can
• 1:09:51
  pay attention to. Are there are there similar types of cycles on like a shorter term, on like a
• 1:09:56
  weekly basis, so you look? Oh, yeah, 100%. So on a NASDAQ, I also don't know the dates like from
• 1:10:03
  top of my head, I just know roughly. So yeah, for you, for not knowing every single date, it's okay.
• 1:10:08
  We understand where the information is so good. Forget the dates. Yeah, I want to be like always
• 1:10:14
  100% accurate. And you know, when you are like, everything is recorded. So I know, I know. That's
• 1:10:18
  why I say don't quote me for the exact date. Give him some grace on the dates. So excuses
• 1:10:24
  next year, 2026, we end midterm election cycle. And by the way, this is the worst of all cycles.
• 1:10:31
  This is a really bad cycle. And, and so I wouldn't expect massive gains next year, not at all.
• 1:10:42
  And by the way, I'm not a crash profits. I always say the markets are bullish based on my,
• 1:10:47
  all like the videos that I made. But next year, it's the first year where I say,
• 1:10:51
  guys pay attention. It could be a little bit shaky because we're in midterm election cycle.
• 1:10:56
  And these are usually weak. They're like, there's almost no gain, no percentage return on midterm
• 1:11:02
  cycles in midterm years. And especially the NASDAQ, if you look at, and again, because you said like,
• 1:11:08
  ah, there's certain weeks. Yes. So mid of January into February. I don't know, it is like a two
• 1:11:14
  weeks, three week period. Again, don't quote me on the dates. There's literally, if you just
• 1:11:19
  trade the NASDAQ, if you just bought the NASDAQ, you would have always lost money. Actually,
• 1:11:24
  this is a time where usually I would not recommend shorting indices, like selling to enter,
• 1:11:29
  making money on the downside. So, but in this case, it's like a period where it's like from mid
• 1:11:34
  January to like into February. It's a few weeks, but the NASDAQ is actually losing on, on average,
• 1:11:40
  in these midterm years, also roughly five to six percent. So big drawdown. So look for, so,
• 1:11:46
  look, look to, look to exit or like a short NASDAQ, like mid beginning mid January to like
• 1:11:55
  early February, because this is usually where the NASDAQ is super, super week. And this is
• 1:11:59
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  this is how now I start to see how this strategy comes together. So when you have these historical
• 1:14:37
  signals that you look at, plus you layer in risk aversion and all the all the principles that you
• 1:14:42
  abide by. This is how you end up being successful as a trader. In a simple way, you exactly.
• 1:14:48
  Yeah, you layer in all like statistical evidence that this was just an example like looking for
• 1:14:56
  equity indices. I look at I like to look at disanial patterns and election cycle seasonality.
• 1:15:04
  This is part of the strategy when I trade equity indices. So I layer in all the statistical
• 1:15:10
  evidence the more the better, right? Because then since I have more evidence, I have more
• 1:15:15
  probability because trading is all about probability. It's trading is all about probability. But if
• 1:15:21
  you have all these layers of evidence, you have these data points, you have a lot of evidence,
• 1:15:26
  meaning you can add more probability in your favor. What do you feel? What do you think about
• 1:15:32
  like algorithm trading? Like when people are trying to layer AI into trading and whatnot?
• 1:15:37
  Yeah. And the reason why I'll tell you why I ask, obviously because it's topical now and I have
• 1:15:43
  I have friends that have lost a lot of money trusting somebody who had AI. It was supposed to trade
• 1:15:47
  for them. But I have a lot of smart people that are trying to figure it out in my circle of friends
• 1:15:52
  that are trying to figure out, okay, how do we leverage AI to make perfect trades all the time?
• 1:15:57
  Because of course, AI is just aggregating huge amounts of data. And that's really what AI is.
• 1:16:02
  And it's basically look using a lot of data to come to conclude, but yeah, to come to a conclusion.
• 1:16:08
  But it's there will be always so that's like kind of the mindset of finding a shortcut, you know,
• 1:16:15
  like finding that that magic program, but AI, whatever, however you want to call it, but that
• 1:16:23
  magic button that can generate profits without you having skill, that's a that's a fairy tale.
• 1:16:29
  You know, I have to say it how it is like for retail traders out there for us, retail traders
• 1:16:35
  are individual traders like you and me, right? We are retail traders.
• 1:16:40
  There will never be any kind of magic button that you don't need really like where you don't
• 1:16:47
  require skill to apply some strategy or like years of knowledge and skill to make money. That
• 1:16:54
  magic button doesn't exist and will not exist because if that magic button, if somebody,
• 1:17:00
  if somebody is like super, super smart and develops that magic button, he will not offer it for like
• 1:17:07
  50 bucks on like any kind of social media platform to say, like, wasn't this magic button like
• 1:17:13
  Renaissance technology degree? You know, Renaissance technology is one of the most successful in the
• 1:17:18
  world, right? That's trading. I don't even think in their in their main fund. I don't even think
• 1:17:21
  they allow people anymore, but that I think his returns were just incredible. Yeah, but for
• 1:17:27
  there's nobody out there who can develop that met like a single individual that is in our capabilities
• 1:17:34
  develops that magic button or can selling that magic button who can make profits without you
• 1:17:41
  needing to do anything, right? So obviously you have firms and big firms like BlackRock,
• 1:17:47
  Vanguard and stuff like they use AI in it, but they're way smarter than we, you know, they have way
• 1:17:53
  more power influence resources than we do. And this is a different story, but we talk about us,
• 1:18:02
  single individuals want to survive in a market trade market for us. No way. This is a fairy tale.
• 1:18:09
  Just a couple more things that I thought were interesting from sort of the philosophy and the
• 1:18:13
  mindset of a trader, which I think will be useful just for the audience. And especially
• 1:18:17
  somebody's like looking to get into trading for the first time. So you mentioned the set and
• 1:18:21
  forget and get a life philosophy. Where did that come from? Why was that important to you? Why
• 1:18:27
  would you recommend? Because we've touched on you don't want to create a full-time job.
• 1:18:32
  How is that important for you? And what would you recommend other people think about when they
• 1:18:36
  start trading? That's exactly the reason because when I went into trading, I went into trading
• 1:18:44
  because usually people go into trading for deeper reasons, not only necessarily about the money.
• 1:18:50
  So if you ask people why do you want to trade, yes, their first thought is maybe money,
• 1:18:54
  but usually they're deeper reasons, right? I always, I firmly believe that people go into trading
• 1:18:59
  because they have some pain, some, any kind of pain, because it's not an easy way to make money,
• 1:19:06
  right? But it can provide you with a lot of things outside money as well. And for me, the
• 1:19:12
  pain was I hated my job so much. Were you, were you in finance before? No, I was actually in,
• 1:19:17
  when I was in a corporate world, I was in the automotive business. Oh, yeah, so fun. Marketing say,
• 1:19:22
  so complete 180 from, exactly complete 180. That's why I say it's a skill that can be learned by
• 1:19:27
  anybody, right? It's like you start from the scratch, it's like learning, playing the piano in a
• 1:19:31
  way, like you don't need, yes, again, this is also nice myth that people think from the, hey,
• 1:19:36
  do you have, you have a talent in trading? No, I don't have any, there's no such thing as
• 1:19:39
  talented trader because it's a skill, right? It's not like you're an NBA player that yes, I mean,
• 1:19:44
  you need to have like a certain size to be because you're talented, but in trading, it's the skill
• 1:19:47
  that can be literally learned by anybody. So I went, and my pain was, and then if people think about
• 1:19:52
  it, why they want to, like, if not a viewer, if the viewers are watching and they think about,
• 1:19:56
  I would like to go into trading, think about really why you want to go into trading, and most
• 1:20:00
  probably you find deeper reasons than just money. For me, it was like, I hated my job so much,
• 1:20:04
  I hated my nine to five grind, I was waking up in the morning thinking, I don't want to do this
• 1:20:08
  for the rest of my life, I cannot do, I don't, I don't feel any passion, I don't feel any purpose,
• 1:20:13
  nothing like that, right? For me, it was just, my corporate job was just there to, to make money and
• 1:20:17
  to make a living, and it just was not fulfilling at all. Not at all, not at all, right? And I think a lot
• 1:20:22
  of people can relate to that, well, that's what I realized throughout the years.
• 1:20:27
  So, and I found the passion, like, real passion in trading, and I hope you realized that during
• 1:20:33
  the podcast, we could, we could go for hours. And so I found the real passion in trading and also
• 1:20:39
  into educating people and, you know, just talk about trading because trading in general is just
• 1:20:45
  the lonely business, you sit in front of the screen and you don't have anybody to share your,
• 1:20:48
  you're passionate with. So there's a problem, right? By itself, but that's why you haven't,
• 1:20:52
  that's an entrepreneurship problem too in general. Usually when you're building anything, it is
• 1:20:56
  very lonely. Very lonely. When you put yourself out there, when you do something that no one's ever
• 1:21:00
  done before, when it is very lonely. And that's why I love podcasts so much because you can like,
• 1:21:04
  really let out everything, right? There's no filter, you can just talk about trading. That's why I
• 1:21:08
  love it so much. So yeah, so that's was my reason. So that's why I was like, hey, again,
• 1:21:13
  we always touch on that swing trading perspective, set in, so swing trading slash set and forget
• 1:21:18
  and get a live trading approach because that's what swing trading necessarily should provide that
• 1:21:22
  you have a life that you don't, that you don't replace one nine to five job with another nine to five
• 1:21:27
  job. Again, this can happen. So once you're like a proficient in that business, once you like
• 1:21:34
  really skilled, then you have that kind of, then you can have that live, but you first have to get
• 1:21:40
  to that point. I always want to stress that you don't have that from the from day one, right?
• 1:21:44
  It's impossible because you have to, again, I want to really like emphasize in that and make
• 1:21:48
  people aware that you have to there's a learning curve. People have to get started. It takes a lot
• 1:21:52
  of discipline. It takes a lot of time as well to maybe to also say it takes sometimes sacrifice,
• 1:21:59
  right? Because you're learning a new skill. So people who are really busy, if you're the single
• 1:22:04
  mom who have two kids and a full time job, you can still learn how to trade, but most probably you
• 1:22:09
  have to sacrifice on something back in the days when I started to learn how to corporate job and
• 1:22:13
  stuff. I sacrifice gym. I love to go to the gym and do like sports like I'm I love doing my
• 1:22:18
  sports and stuff. So I sacrifice the gym a little bit. I sacrificed also my social life and I was
• 1:22:24
  really like focusing on learning the skill how to trade. So at this time, I had really like my job,
• 1:22:30
  my corporate job and learning how to trade. So sacrifice and I have to say, so there's always when
• 1:22:36
  you learn something new, if you start a business, whatever it is, if you go into entrepreneurship,
• 1:22:41
  they sacrifice involved as well. Otherwise, it doesn't work. I'm curious because we've kind
• 1:22:47
  of already established that the reason why a lot of people screw up in trading is because of either
• 1:22:51
  lack of skill or making poor decisions. Poor decision making because you're a human. Poor decisions
• 1:22:56
  because you lack of skill and sometimes and this is actually important to stress. People usually
• 1:23:05
  they stress that they blame also their psychology. But the psychology is they have quote unquote
• 1:23:13
  bad psychology because they are not skilled. Not the other way around. Once you are skilled,
• 1:23:20
  you kind of eliminate a lot a lot of the psychology factors. It's never the other way around.
• 1:23:27
  It's super important. People don't understand that because again, people say because of my
• 1:23:34
  emotions, because I was greedy because of this and that, they blame their emotions because they
• 1:23:40
  lose lost money. Yeah, no, you lost money because you're just not skilled because if you were skilled,
• 1:23:45
  emotional factors would not play a big role. Were there any things that outside of like,
• 1:23:51
  you hated your job, but what made you use trading as the way to get to freedom, fulfillment,
• 1:23:59
  money, a life that you actually enjoyed? I think the passion that I developed through trading,
• 1:24:05
  that was, it was crazy. Passion follows skill. That's very important. You have to develop the skill
• 1:24:10
  and you'll find passion for it. Yes, yes, yes. First, you're curious. First, you're curious about
• 1:24:17
  the topic, something, right? Then you get into it. For me, trading, because I have just a normal,
• 1:24:23
  like most people, normal university, business, university degree, I went through school,
• 1:24:28
  my whole my life until I was like my mid-twenties. I went through the whole school,
• 1:24:33
  the bank program, very traditionally. You learn so much in school that you can never really apply
• 1:24:44
  in real life. So many theory models over and over again that you realized at some point in time,
• 1:24:52
  okay, I learned that so how do I apply that to make money, right? It's like you learn something
• 1:24:57
  that you want to apply to make money. Once then, you know, I went into trading and I realized,
• 1:25:04
  shit, like I really remember that when I went into trading and I realized, for the first time in
• 1:25:08
  my life, I learning a skill and immediately this skill, I can apply to make actual money
• 1:25:17
  in that same moment in a way, quote unquote. It was mind-blocking. It was like crazy to me that I
• 1:25:23
  learned a skill that I can apply to make money immediately. Very, very. And it's relatively quickly.
• 1:25:30
  In the sense of, I can see that this might work out. You know, that's what I mean. Of course,
• 1:25:36
  it's fail and error and it takes like practice and all this kind of stuff, but
• 1:25:39
  you literally learning the skill that you can apply immediately in the markets and potentially see like
• 1:25:45
  an outcome. Whereas everything you learn in school, it's like theory or theory. It is very
• 1:25:50
  with theories. I went to school for, I was supposed to be a lawyer at one point in my life and
• 1:25:55
  then I went to school for pre-law and I remember learning history and theory and basically nothing
• 1:26:01
  that I use right now at all. We're sitting here and having a podcast, right? How is your
• 1:26:07
  relationship with money changed since you are now a very successful trader and how has it had to
• 1:26:13
  have changed? You touched on this briefly but explain how it's changed for you and just one more
• 1:26:18
  time, I think it's very important for people to, I loved that whole idea of your relationship with
• 1:26:24
  money and how that ties into who you are as a trader and it has to be positioned in the proper
• 1:26:30
  sequence. I have to say money, again, was never the primary reason why I went into trading. I
• 1:26:36
  always had like, because you know, I had a job in Dubai, tax-free income, I had good money working
• 1:26:42
  for like some automotive brands, making really good income. I never, when I went into trading,
• 1:26:50
  literally yes, obviously money was like, okay, I want to make money with trading, but it was never
• 1:26:56
  the primary reason why I went into trading. So I had really like the deeper reasons, like I hated
• 1:27:01
  my job and stuff like that. I wanted to have like more purpose, fulfillment and life, I wanted to
• 1:27:06
  wake up excited. I wanted to have these intrinsic feelings, values that I, okay, I want to accomplish
• 1:27:13
  this in life and I thought, okay, money will just follow them, just by default in a way, you know.
• 1:27:18
  So when it comes to trading in particular though, obviously you realize once you start trading
• 1:27:30
  and you have money in the financial market on a daily basis in a way, right, that you have to get
• 1:27:36
  used to, slowly get used to bigger numbers in the market, that your risk tolerance has to increase
• 1:27:42
  slowly. It's like, if you have never, like for me, even very, very beginning, if you had never a
• 1:27:48
  thousand dollars risk in the markets, but all of a sudden you have a thousand dollars risk in the
• 1:27:53
  market, this does somebody, something, this does something to you, right? You make then, because you're
• 1:27:59
  also not yet fully skilled, you make poor decisions based on the flashy number that you see on the
• 1:28:04
  screen. That's just again, you're a human, it's a human psychology, there's no way around it,
• 1:28:10
  right? Some people are, and then it's just about the number on the screen, the flashy number
• 1:28:17
  that varies from person to person, right? How risk averse are you, right? It's a thousand dollars for
• 1:28:22
  you like pocket money or it's like a thousand dollars like your monthly income, right? So everybody has
• 1:28:28
  to kind of determine, define their risk tolerance in the beginning, themselves, and then slowly
• 1:28:36
  increase it based on how comfortable you feel based on these numbers. I call that milestone
• 1:28:40
  planning and trading that you increase your risk tolerance slowly, the more comfortable, and you
• 1:28:46
  have to get more comfortable to these big numbers. Now I'm looking back and laughing about these
• 1:28:51
  numbers, right? But that's how you slowly increase your risk tolerance. I think this is how my
• 1:28:55
  relationship to money changed the more experience I have, the more I get detached from these numbers,
• 1:29:02
  and just follow the strategy. But in the beginning, you're just following the green and red,
• 1:29:08
  you know, money and 50,000 is a lot scarier even though the pattern still apply, but for most people,
• 1:29:14
  50,000 dollars in a brokerage account or in a trading account is much scarier than a thousand dollars,
• 1:29:19
  and it's much less scarier than a million dollars. But again, if you have the right skills,
• 1:29:24
  then a million should follow the same pattern as 50,000 should follow the same pattern as one thousand.
• 1:29:29
  You get it. Exactly. That's the point, right? But then the question is, are you capable mentally,
• 1:29:34
  emotionally, to manage a million versus 50,000 dollars? If you have never managed 50,000 dollars,
• 1:29:40
  then you also never manage a million dollars, right? That's why you have to slowly climb that
• 1:29:46
  ladder. And that's what I call milestone planning. You have to, if these milestones, milestones,
• 1:29:51
  and if you like feel comfortable with 50,000 dollars, or like that's the money in the account,
• 1:29:57
  if you're comfortable risking a thousand dollars per trade, well, then you move up the ladder.
• 1:30:02
  And if you're like saying, now you're trading two thousand dollars risk per trade,
• 1:30:06
  and if you feel like you're making poor decisions, and you see maybe this based on the data,
• 1:30:10
  on the results, that because your execution is exactly the same. It's supposed to be exactly the
• 1:30:16
  same than in the previous milestone, but now you see like you're making poor decisions because maybe
• 1:30:23
  the amount, exactly, then you have to go back a milestone until you're comfortable again,
• 1:30:28
  and maybe do smaller jobs. Okay, so to set expectations, if somebody is starting to trade,
• 1:30:35
  how much time should they give themselves before, and I know you're going to say you have to
• 1:30:40
  define what real money is, but I was going to say before they make real money, meaning is it
• 1:30:45
  two years, is it five years, is it six years, and what is a healthy return? So tell me what a healthy
• 1:30:51
  return, not investment advice, but just so that you can level set versus what they're seeing online
• 1:30:57
  in terms of how long they should be doing it, and how much they should be making. Yeah, yeah,
• 1:31:00
  that's, that's with what would you, with what do you want me to start with a healthy return,
• 1:31:06
  because I need to elaborate a little bit on that please. Yeah. All right. So when it comes to
• 1:31:11
  trading, percentage return, I said in a very beginning of the podcast, one to five percent is
• 1:31:17
  return, but since we're going a little bit deeper into the rabbit hole, I have to say percentage
• 1:31:22
  return is not the real approach when it comes to trading. So we measure our success and our
• 1:31:29
  profitability based on risk to reward proposition, because at the end of the day, let me explain
• 1:31:36
  this quickly, just make a simple example. Yeah. Now, whether I'm going to tell you I make
• 1:31:43
  so now 50% a year or 20% a year or 10% a year, you would expect okay, the person who makes more
• 1:31:51
  return is just by default the better trader. It's not necessarily true, because he might,
• 1:31:57
  he might have overlavered himself. He might have taken too much risk, and we don't know this based
• 1:32:03
  on just percentage return. So saying that if a trader tells me or breaks, I made 50% return this
• 1:32:11
  year. It's already red flag, because it doesn't mean anything. He could have taken 70% risk per
• 1:32:17
  trade. So it's like a, it's like a bad risk to reward proposition. So maybe it was just luck that
• 1:32:23
  he all that he made like the 50%. And again, the game is to stay in the game exactly long forever,
• 1:32:28
  forever, forever, forever, exactly because you want to trade for the rest of your life.
• 1:32:32
  So that's why as a trader, as a professional trader, you measure your performance not based on
• 1:32:38
  percentage. You can do this then at the end, but it's more like based on risk to reward proposition,
• 1:32:43
  meaning for every dollar you risk, you try to make two dollars. So it's mean it means one
• 1:32:50
  hour, one risk versus two reward two hours. As it so and a healthy monthly return is two rewards,
• 1:33:01
  two hours per month on average, meaning over a whole year, two times 12 months. So 20 to 24 hours
• 1:33:12
  return per year is a realistic goal to achieve 20 to 24 hours per year on average, two hours per
• 1:33:24
  month. So it's meaning if today, and this is then you, you have then also fixed dollar risk,
• 1:33:31
  it's called a fixed dollar risk approach where your monetary risk per trade is over is always the
• 1:33:37
  same, meaning let's assume over a whole year, I risk, we make a very simple example, a thousand
• 1:33:43
  dollars, all right, per trade. So meaning, I risk now today a thousand dollars and I have a return
• 1:33:52
  of two hours per month on average as my goal. So I make two thousand dollars per month based on
• 1:33:58
  a thousand dollars risk per trade. It's a great ratio that can be sustained forever, you know.
• 1:34:02
  So X 100% and that's not rocket science. I'm not, it's really one to two two hours per
• 1:34:09
  per month on average is very reasonable and something that everybody at some point in time,
• 1:34:15
  if they are skilled, can achieve over very long period of time. Obviously you have like,
• 1:34:19
  and like in any other business, you have like kind of break even month, you have more like
• 1:34:23
  negative month, then you have like really good month, that is like you have over achieve your
• 1:34:29
  targets, your four or five hours. But again, 20 to 24 hours per per year on average is very reasonable.
• 1:34:37
  So if your risk tolerance, if your risk level right now is a thousand dollars per trade,
• 1:34:44
  you can expect at the end of the year 20 to 24 thousand dollars per, per, per,
• 1:34:50
  per annum. And if people aren't even speaking like that, then they're just telling you numbers
• 1:34:56
  that could have been lucky, could have been fake, could have been, yeah, bad risk management.
• 1:34:59
  You don't, they, they, these, otherwise, these numbers don't tell you anything exactly. And
• 1:35:04
  most people do that. So it's like for, for professionals, it's like already very red flag.
• 1:35:08
  If somebody says I made x, x percentage amount per year on the leveraged markets, it's like,
• 1:35:13
  what does this even mean? Now this doesn't tell me anything really, whether you're good or bad,
• 1:35:17
  how much risk per trade you talk, like it doesn't tell me anything. That's why I want to,
• 1:35:21
  somebody asks this question, I always have to elaborate a little bit more. It's not necessarily
• 1:35:25
  measured on, on percentage performance, because it really doesn't mean anything. It's more like on
• 1:35:29
  risk to reward proposition. Again, switching the mindset from short term to long term.
• 1:35:32
  Exactly. And for somebody who puts in reasonable, reasonable effort, three, four, five years before
• 1:35:40
  they should think about this as something that's their actual work. No, I think so. Again,
• 1:35:48
  it would be not professionally for me to put like a real number behind it. Again, that's the red
• 1:35:53
  flag when people say you can learn trading in x amount of time. I feel like when people say you
• 1:35:58
  can learn trading in x amount of time, they are not saying five years. They're usually saying
• 1:36:02
  three months. Learn my strategy in seven days and become a profit and professional trader,
• 1:36:09
  right? That's like usually like take my weekend course, my weekend semi-nah and become a trader.
• 1:36:14
  That's the problem, right? Obviously, it's super unrealistic. And then we have to differentiate,
• 1:36:18
  it's very, it's trading is a very individual journey. Are you again, the single mom is two kids
• 1:36:23
  and a full time job and can barely, you know, spare some time for trading or are you the
• 1:36:27
  board student who is like has all the time in the world and can really like study 10 hours a day
• 1:36:34
  on. But when you start to hit those ratios, when you have predictable ratios, that's when you
• 1:36:40
  can start to think this could be something that's full time. Yes, exactly. Even if you don't have
• 1:36:44
  prop money realistically, if you have those ratios and you have the skill set and you start to
• 1:36:50
  scale. But that just takes much longer. Yeah. And if you if you lack in capital, it just takes much
• 1:36:55
  longer. No, I mean, if you hit those ratios before you actually get prop money, then that means that
• 1:36:59
  you probably would pass the test to allow you to. Yeah, 100 percent. Yeah, of course. Then it should
• 1:37:04
  not be difficult to pass these tests. Exactly. Yeah. That's how I experienced it, right? For me,
• 1:37:09
  it was like, okay, wow. First, I was like, wow, dad tests. Let me do it. And it was like, wow,
• 1:37:14
  that's actually, wow, it's quite easy, right? It's actually such a beautiful idea that if you can
• 1:37:19
  hit these ratios with 500 bucks or a thousand bucks, then in theory, you are set for the rest of
• 1:37:28
  your life in theory. Yes. 100 percent in theory. That's a beautiful idea. Like, yes, I'm sure you have
• 1:37:33
  to manage yourself, your emotions, but it's, you know, if I make 500 dollars in entrepreneur,
• 1:37:41
  there's no guarantee I can make five million dollars in entrepreneur. There's there's scaling
• 1:37:45
  issues. There's costs of goods sold. There's a hiring. This has to happen. So many other,
• 1:37:50
  there's so many other variables involved. So many other variables trading. You don't have these
• 1:37:53
  variables. That's why it's the most beautiful side hustle in the world. That's why.
• 1:37:59
  And yeah, so when it comes to time duration again, I don't want to put a fixed time, but what we see
• 1:38:04
  based on our experience, my experience at people who really put, let's say, 12 months of really
• 1:38:10
  hardcore, I don't want to say hardcore dedication, but dedication. So they can study on a daily
• 1:38:15
  base an hour, two hours. They're not a week because sometimes during the week, they're busy,
• 1:38:21
  but they can put more time effort during the weekend. So I would say 12 months. It's a reasonable
• 1:38:27
  time to then see the first, you know, consistency in your approach. But again, you have, you have,
• 1:38:34
  it's an individual journey. It really depends on how much time you can put into it. And then
• 1:38:40
  it still takes time and people have to go into that knowing it takes time. There's no overnight
• 1:38:46
  success. And it looks easy. Yes, but it's definitely not easy. There's no such thing as easy money,
• 1:38:52
  right? There's no such thing as easy money. But, but my favorite idea is that in life, you only have
• 1:38:59
  to figure it out once. You only have to figure out how to make money once. You only have to figure
• 1:39:03
  how to build a business once. You only have to figure out how to trade successfully. And once
• 1:39:08
  you figure it out once your life is set. Where can people reach out to you? Where can they follow
• 1:39:15
  you? YouTube, socials. Yeah, usually I tell people just go on my YouTube channel, Burns
• 1:39:20
  Coropinski, my full name. They can watch my videos. I share a lot of free value. Again, like all these,
• 1:39:26
  I think stock market, election cycle, predictions, anticipation of where the market is heading.
• 1:39:32
  A lot of value for the people. I put them out all for free. And yeah, just you find me on my YouTube
• 1:39:39
  channel, Instagram and you can go from there. Okay, we'll put that on the show notes. Last
• 1:39:45
  questions. Now you have a whole bunch of like students, audience, whatever you want to call them,
• 1:39:52
  the consumer, your content. What would be the biggest thing that they screw up that stops them
• 1:39:58
  from being successful? They jump into the market too quickly. They jump into the market too quickly.
• 1:40:04
  They use their own money. They risk too much and all of a sudden it backs back, back fires and
• 1:40:09
  they lose it, right? They think they know it, but they don't know all, right? The saying,
• 1:40:15
  you don't know what you don't know. It really exists, especially when it comes to trading.
• 1:40:19
  Don't have an ego as well, because usually man, the majority of the content that consumes the people
• 1:40:27
  that consumes my content are because of trading are made, right? They have, usually man, they have
• 1:40:33
  a big ego. They know, they know everything better. We know everything better, right? Females,
• 1:40:38
  female traders are the better traders actually, because they're like very like they first want to
• 1:40:43
  learn everything properly to the book, like to the point and then they execute, but man, they execute
• 1:40:50
  first and then they learn because they realize, maybe I should not go on the bench anyways.
• 1:40:55
  That's funny. It's funny. No, really, that's my experience, but so yeah, don't have an ego in
• 1:40:59
  trading. You cannot, when it comes to the financial market, everybody has like preconceived thoughts
• 1:41:04
  about the market, right? Because we are exposed to the market on a daily basis. Don't have an ego,
• 1:41:10
  learn and learn first before you get into the market. And this is usually the right people,
• 1:41:15
  then they have bad experience because they lose money quickly and they lose a lot of money and
• 1:41:20
  then they hesitate to go back, but they just made these mistakes in the beginning.
• 1:41:24
  If you were going to go back and tell your 20-year-old self one piece of advice after everything you've
• 1:41:28
  learned in your life, just do everything the way you, I'm quite, nobody's, I think, fully
• 1:41:35
  happy with their life, right? Everything, there's always space for improvement and there's always
• 1:41:39
  things we want to achieve and so on and so forth. But I think if you have told my 20-year-old
• 1:41:45
  me who was kind of lost, really never knew what like I wanted to be in life and what I can
• 1:41:52
  accomplish, if you had told me that I would be here in this place right now, I would have
• 1:41:59
  signed the paper and say, yeah, take me there, you know? So that's why I would say I would tell my
• 1:42:06
  20-year-old that made a lot of mistakes, learned a lot of lessons, do these mistakes,
• 1:42:13
  learn these lessons because they make you the person that you are today and I'm
• 1:42:17
  quite with all the flaws that I have, it is just what it is, I'm quite satisfied where I am today.