How The Best Trader of My Generation Handles Losses
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- Опубліковано 3 лип 2022
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Jack Kellogg is joining us today to pick up on our conversation from last year and share the changes he has made to his life as a trader. Last year Jack found himself experiencing habitual burnout, with his main focus being the market. Jack has implemented many habits to rid of this feeling.
He walks through his feelings throughout these slumps and the impact on his trades. There are many distractions; however, focus is key to becoming profitable. We walk through many of these distractions and Jack shares tips to help traders avoid losses.
Jack is an incredible trader with a wealth of knowledge to share. Tune in for this conversation and learn from one of the best of my generation!
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Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
Assets that can make one successful in life
I.bitcoin
2.Stocks
3. forex
@@jamesmurphy9772 You're right
But I don't know why people remain poor due to ignorance
@@Kevin-tx4ul I totally agree with you, the crypto currency market is the most profitable venture I ever invested in, I reached my goal of $200k yearly trade earnings. Setting realistic goals is an essential part of trading
Thanks for having me on!
Absolutely my friend. Have a great day Brotha
Thanks for sharing your story! Appreciate you and Alex sharing your knowledge!
Jack, can you be my mentor? I can cash out my retirement and move to wherever you say. I just need to be all-in in an environment with traders. I'm in Alabama and it's just not happening.
Hi Jack, what do you mostly trade?, thanks. When do you trade?, Opening/midday or closing time? What indicators do you mostly rely on if any or do you follow patterns only.
@@vijaychouhan3610 keep studying brother, just stay focused ! You will do it
HELLO MRS CLARISSA THE BITCOIN TRADER IS LEGIT AND HER METHOD WORKS LIKE MAGIC I KEEP ON EARNING EVERY SINGLE WEEK WITH HER NEW STRATEGY
Wow I' m just shock someone mentioned expert Mrs Clarissa I thought I'm the only one trading with her.
She helped me recover what I lost trying to trade my self
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Clarissa, I think that she is the best broker I ever seen
When you invest with genius like Mrs Clarissa you don't have any other choice then to keep winning she trading strategies are very productive and reliable. I made quite a huge profit today all thanks to Mrs Clarissa
@JIBRINI'm from Australia and I have been Investing and earning massively with the help of Mrs Clarissa, all thanks to her
Hello
How favourable is the market now . I want to invest in cryptocurrency
Can I start with $6000
No matter their level of skill, every trader has a nearly 50:50 chance of being successful on their first attempt. The biggest distinction between traders and investors is timing. I specialize in option trading, but I'm still getting my bearings with forex.
@Zachary Owens Due to the rapidly rising cost of everything, my main concern is how to increase my income and protect myself from inflation. I would really appreciate any advice you have on the best investment avenue to take in order to produce enough profit for retirement.
@Zachary Owens This is fantastic, but not all brokers are equipped to handle the volume of trades that day trading generates.
@Kellen Patton lots of stocks could double your money, but if they're only growing at, say, 3% per year, it might take about 23 years. Most of us would much rather double our money faster.
Hey, there are some comments in your bot section
BS; if that were true, there wouldn't be a 95% failure rate.
I took a huge loss on the CAR trade too! Before, I was doing great. I found my short trading niche which gave solid daily gains averaging $5000/week on a $30k account. That one trade sent me back to square one. It was devastating for me because 2 weeks before I had quit my job due to me becoming comfortable with the money coming in.
Now looking back, CAR was the biggest blessing for me. I took a step back and spent the down time learning how to code SQL databases and Python to help with my stock picks. although it's not done, it does help running through the data. no more just screening high relative volume with other key indicators on Finviz 🤓I'm now breaking down the market data in a relational database all thanks to CAR!
hahahha i love the massive green bong in the background!!!
That’s just a vase man.
@@truthseeking3818 LOLLZZZZ no it's not
Number 1 trading invervews going around. Love this channel watch every episode.
Your videos help me emotionally man cause like jack talks about he went through, I’ve been focusing on the market so much. It gets lonely lol
Being a trader is like being an athlete. Everything affects this career.
"...yeah thats what im trying to explain.."
Thank you for posting this, and Jack, thanks for taking the time to share your expertise.
Nice big green bong in the back haha
So important for day traders. Thank you for such a great interview.. i loved it....
By far the best channel for trading! Especially in terms trading psychology! You really do get to be the trade!
Great interview. These messages about self care are important no matter our profession or path in life
Am I tripping or is that a bong in background around 1:14? haha
10 million from trading at this age. I would be putting at least 70% of that in high dividend stocks. Healthcare, Energy, Utilities. Just the dividends off 7 Mil would be a decent income. & Buying multifamily real estate that generates nice cash flow. With 10 mil, you can be making a passive 400k super easily. Trading would be secondary. Maybe start over with 100k & see if I could do it again.
I get your point and alot
Of people think that way. But many don’t realize this is what they love to do. So going golfing and not trading anymore letting the indexes do the work for you is not what makes them
Happy
@@stormtraders exactly. But it still makes sense to create a more passive cashflow so you can give yourself an even higher degree of calmness when in positions, because their outcome doesn't significantly impact your ability to finance your life. if you have like 10M in dividend stocks or ETFs, you will likely generate dividends of 5-10% annually.
Maybe the guy wants to be a billionaire and not want to slow down. He is young as fuck
That was good. Agree 100%. Thats how i manage risk too. My PL curve is very linear. Biggest draw down in last 2 years was around 1%+. Opening a Cobra acct. now, and finally using DAS will help a lot. About to start opening my risk up in that acct as it grows above X level. Looking forward to the growth.
Well done. Half the game is risk control.
Glad you got the goat on the pod
Thanks for the motivation and advice. Respect from #southafrica
Loved this one, can’t thank you enough
This is good! Thank you 🙏
Thanks for sharing !
love the channel bro!
Great interview, Alex and Jack!! I've found that having hobbies that have nothing to do with trading really help psychologically/emotionally and just overall life balance. Joe Rogan also talks about this too is having something ELSE you're obsessed with so if you have a rough stretch it can be an escape for you. For me (like Joe) Jiu-jitsu is one of those things. I also enjoy playing guitar and working out.
Meditating and visualization is essential. Breathing and exercise.
SIR, When swing trading forex with support/resistance what is reliable time chart to use for S/R levels--is it 4 hour OR 1 hour chart? I would think that 1H ,S/R levels are going to get easily violated if trading is against trend on 4H/Daily chart. Of course entry can be made even on 15 M chart BUT ENTRY HAS TO BE IN THE HIGHER TIME FRAME DIRECTION--I seek your experience. Thanks.
I like Jack he is a good guy. I couldn't trade like he does if you see his profitly he takes full size positions for like 5 to 10 cent scalps but it works for him. 10 million like 5 to 6 after taxes take the money and run trading will burn you out and you will eventually hate it unless you are a dengenate gambler
Lmao is that a green bong in the background y’all boys lit 🔥
Big badda bong! That's how you're keeping those nerves calm on 6 figure trades ;)
I sold most of my losing small growth stocks slowly..and transitioned into great companies like Apple and Google...kept a few speculative stocks hoping for a big winner to offset my big losers.
I feel that. Chop screws me up. Need to wait for quality setups. The rest is just noise.
great interview Alex
Hi guys, do you know a place where I can chat with other traders in premarket? Like to exchange ideas, discuss setups, etc.
what is that green object standing on the countertop behind you? next to the green flower.
Thanks guys!
had a lil bake sesh before the show eh lol
Hahah thx for watching
Lol @ the bong in the background
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Karen Charles
@@ivyjenkins1629 Wow I'm just shock you mentioned and recommended Expert Mrs Karen Charles,I thought I'm the only trading with her
@@tulumataman3233 You don't need to be shock because I'm also a huge beneficiary of expert Mrs Karen
Here in Canada Expert Mrs Karen Charles carries out the both orientation and mentorship
potentials
bro needs to trade options. you are way more nimble and the gains within minutes are better for this market. You risk above a 3:1 trade. sell on your stops. and scale out when they win. the gains defeat the losses if you stick to setups. TSDR Trading is killing it in this market and made me fall in love with day trading options.
Dude makes so much i cant even pace such amount. It’s been only one year since if fully trade, I’m only making small but on daily basis around 450$-580$.
I cant wait the day to leverage my margin from 500$ to 1200$ / position; and yea i just learned that money and risk management is a first and main priority.
the basketball reset mindset is fire
Another great interview, love these. Please could you try and get Sean dekmar on, great enthusiastic inspirational trader with a big platform of traders
You two were under the same roof on day 1 meet and greet in Scottsdale. That’s where you probably met for the first time.
How bot getting a job and trading passively on larger timeframes? Also why not asking those million dollar trades how they started? Did they take a loan or just start with 500$....
definitely peeped the bong in the background haha
What 300K is 5% of his total profit means he made a profit of 6million till now ! wow !
The bong in the back:-)
Excellent interview.
When we lose money often in the market we do feel lost and not so good.
Can feel his vibes, got a lot going through his mind..Congrate Jack on the milestone and good episode Alex!..I actually can resonate with him saying that he like keeping himself busy doing house work, probably that is a kind of meditation, distracting the mental away from the market and a sense of accomplishment when getting some physical task done to replace the satisfaction...
Thx for stopping by brotha
@@BTheStory Mental burnout is real and painful especially in trading. But the community support like your channel and especially keeping it real, makes it worth it for this battle. Thanks for all you do man!🐻
I noticed a big difference between Jack's energy in this episode compared to the first interview. I've been trading almost 18 months. If anything, this Vid showed me that even the best will have tough times.
The environment part really and truly affected me, I currently live in a shithole and I have to go to my friends house to trade (he lives in the nicer part of town)
If I mean If I'm not blind,or maybe I'm wrong..LOL
As always,THx for the work and time,very valuable interview.
Thx for watching
nice green bong in the background lol
It’s cool how every trader has a totally different way they manage risk. Great interview as always. One day I’ll be a great trader too
Are you there yet?
@@adrianapollyon5087 I’m allot better today than I was back then but Certainly not a great trader yet.
Is that a green bong on the backround?
I love your UA-cam channel! Thank you for being here!
Nice bong in the background :p
I love jack
I appreciate your content dude, keep going i love it! 😃
11:30 I feel that heavy.
Drawdowns after good periods migth come not only because you feel invincible but also because your mental capital was spent to produce that good period of wins and you need to take a few days to recuperate, instead we keep on trading and shoot ourselves in the foot
it's like you know what im going thru lol, been burnt out pretty bad recently wow
Great Interview Alex, thank you!
Casual green bong in the background
Why it's so short?
Man I would give anything to hang out with this guy a few days. I lost my retirement account trying to trade and just need to learn in a way that makes sense and he has the same personality as me so I bet I would catch on from him.
Hey bro, you really need to understand the emotions of trading. I recommend you watching the psychologist Rande Howell, here on youtube. This is not promotion or spam, check him out.
Man. This is why money isn’t everything . For all you young kids out there don’t let people fool you into thinking that getting flashy cars by trading etc is the most important thing. Being a professional trader doesn’t make you better than someone who has a good decent full time job. Having a well rounded personality and life is the most important .
Anyone peep the bong in the background?!
Is that a bong in the background? 😊
Instead of saying 10K or 20k risk better to use percentage,
lezzgo JACK!
Let goooo
Overall this was an amazing interview! I learned so much just by listening to this and now thinking about risk management and strategies differently! Thank you
Add to winners period.
Honestly didn’t get much from this interview would be nice to hear how he got to the point
Is that a big green bong behind you on the counter?😂
You need to get ICT on this.
OMG Jack you look so much healthier and happy! Meditation, exercise and self care helps everything! Thanks Alex for the excellent interview as always! Peace, Love & Prosperity to you both!
What ticker did he lose 170K on? I didn't catch it...
car
can you do an episode about weed and trading? :)
It would be interesting to see how quick these bigger retail traders (Tim Sykes' students) could get back up to their all-time highs if they started all over today with a 10 k balance...
Hey I’m a ( former ) Tim Sykes student , who got successful and I can tell you that it’s all dependent on market conditions ! We all essentially had a good run at a particular time in our trading career that caused our accounts to grow the way it did ! So yes to your question we could if market is hot enough
@@PilotFlyingJay K thx for the reply, I appreciate it.
I am beginning to think the market conditions are over half the battle...
I have seen Ross Cameron say that there used to be runners that would run 300/400/500% everyday...
You'd have to be an idiot to not make money essentially.
Maybe crypto has really taken a lot of potential capital out of the reg stock market
@@ajcook7777 So study while the markets are bad and resume trading when they are hot?
The stonned jack kellog
Thx for watching
Distraction is the worst for trading
Is that a bong in the back?
it's nice when traders talk about mindset, psychology, motivational thought.. but i hope someday viewers can also witness a number of actual trades taken by these traders while showing the exact reason why they entered or why they exit. not just parabolic, panic selling, consolidation.. but the exact thing why they entered or exit. i guess no one will do this because no one wants to giveaway their strat just like that lol. It's like a manager telling a newly hired panda express cook "hey Miranda i wake up early everyday back when it was my first day here because I have that passion to learn but on my days off I relax and spend time with my family" but never showed Miranda how to cook orange chicken or even simply show where the fridge is to get the supplies and start cooking. Not saying to spoon feed but motivation is nothing if you dont know how to do something and you learn it from someone teaching which involves demonstration of how things are done. Clearly his girlfriend's learning curve was shortened to 1 millimeter because someone showed her exactly how things are done and in reality very few traders are willing to share it that's why salute to all traders who do this and not just "I worked hard, became successful, YOU CAN DO THIS TOO" motivational talk.
It's dog eat dog, brah. No dog will give up the whole kill.
@@oodles86 if that is the case then he's just a clout chaser
@@rome7665 no kill without the chase. that boy is EATING
My home state AZ
looks much better, healthier
I've gotten pretty consistent with scalping penny stocks. I can usually grab 5-30% per day, but I'm using $100 for my position size in my small cash account so I'm only making like $10 a day haha. I'm just focusing on the art of it and getting consistent. All those little gains will add up and get me bigger gains in the long run. For now though I'm getting a job.
Remember Boys and Girls too become a good trader you must start with a nice green bowl inside your green bong thats on the kitchen counter. Only then can you really focus on your trading!
When you're poor, you:
working outdoors, managing stuff in the house, talk with friends.
when you're a rich trader, you enjoy:
being outdoors, managing stuff in the house, talking with someone.
Does anyone think copy trading is still a thing? i know it made a lot of easy millionaires when it was a trend some years back. when it was made especially popular by the concept of social trading in etoro. got me wondering if this method still works? my portfolio is drifting terribly far from safe waters lately. really looking for a lifeline.
What matters is not really the tech behind it but how you use it. 90% of all trades made by hedge funds and investment firms are traded algorithmically. it's just a tool or concept for high frequency trading on a lot of accounts concurrently
@Animal Planets Tried it and i do have my regrets. sure, it has nice traders but i got burned a number of times due to their lack of consistency. it's more like a hub for one hit wonders. if you get lucky, you go green when you subscribe to a hot trader and then you lose all your profits the next week. the aim just got defeated for me
@GUB GAMING Hey, are his fees very high?
@GUB GAMING How to reach him please?
@GUB GAMING Well thanks a lot for the info, buddy. I am sending in an inquiry right away at his email
Does jack have a UA-cam channel
Every one is a great trader in a bull market ...don't feel bad
I was drained by daytrading, trading crypto, swing trading. When allocating, you basically trying to pick a winning horse. I was playing all My money because once u get good.. u wish to have more and more money to win big.. I was exhausted the stress from playing big messed up my trades... Became depressed but one of my trades did good which was snap chat at 6 bucks I was convinced I was gonna let it run forever.. I sold it but basically 10x run in a year or so didn't pay much tax either. Moral of the story " Less is more"
5% is 400K? I wouldn't put more than 100k in the trading account considering the economic uncertainty we have now.
How about talk about stocks...
where from? east coast
17:53 lmao
Move to San Diego
If jack or anyone can answer this, im at a home w mom pop gf brother and my kid, always distracted cant really deep dive focus into studying, would renting an office space be very beneficial mainly for having no distractions? i plan on getting office once i am profitable. But what are peoples opinions on office space at home vs separate building?
I trade full time and have an home office. I have a wife and 2 kids, 7 and 2. For trading, my family knows to leave me alone at 8:30am until im done. It’s distracting at times though. I say get an office if you can. There’s tit for tats with both. I have a home office because I’m deciding to spend more time with my kids, especially in the summer. But it’s tough. I only focus on family and trading, that’s it. I have no idea what’s going on in the rest of the world though, are aliens invading?
nice bong