Can you be Consistently Profitable in Day-Trading? (Dux's Student Interview Series) — Transcript

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1. 0:06love you love you too yeah I should
2. 0:09probably shooting yeah
3. 0:16oh yeah I want to get wet
4. 0:23[Music]
5. 0:32what's up guys didn't that sir I'm here
6. 0:34with my new six-figure student he made
7. 0:37about 120,000 said within six months and
8. 0:41he's been I heard in time for almost a
9. 0:45year so let's hear what he has to say
10. 0:48he was David Gordon hey hello everyone
11. 0:52David Gordon I like Stephen said I've
12. 0:56been here three study living for a year
13. 1:01I've been I started trading about two
14. 1:06and a half years ago on my own I was
15. 1:10pushing buttons like a rabid monkey
16. 1:12trading everything I could follow
17. 1:15someone else into when I started
18. 1:18training I have had some success in
19. 1:20other areas of my life fairly at least
20. 1:26averaging of average intelligence I'm
21. 1:28pretty good with numbers and I really
22. 1:30thought that it was gonna be easy I
23. 1:34thought I was gonna just start trading
24. 1:36stocks and making money right off the
25. 1:39bat
26. 1:42so I open an account and I started
27. 1:44pushing buttons and losing money and
28. 1:45eventually I figured out that I needed
29. 1:48help I need a mentor and I actually my
30. 1:52first experience with a an education was
31. 1:56with Tim sites and I did and I still am
32. 2:01actually active in Tim sites challenge I
33. 2:06learned a lot of basics studying all
34. 2:09those DVDs and doing webinars with Tim's
35. 2:12guys I learned a lot of them as it's
36. 2:15tilings
37. 2:16stuff and the basic criteria answers
38. 2:20tickers but I was not profitable I have
39. 2:23a history of blowing up I've done that
40. 2:26on my own I did that when I was his
41. 2:30Sykes challenging than I did in the
42. 2:33beginning trying to follow ducks in the
43. 2:35trades that I didn't understand and fast
44. 2:41forward right around the time that
45. 2:44Steven came out with his first of DVD I
46. 2:47bought that I'm sort of studying it and
47. 2:51I knew right away that I'd found my
48. 2:56thing I was like it just clicked for me
49. 3:00that it was real but this this was
50. 3:02pattern
51. 3:07I was right at home so I studied that
52. 3:12and then I decided to just jump right
53. 3:14into territory and I'm still very
54. 3:20addicted to trading I had to be in
55. 3:23action I think that's the biggest
56. 3:26problem
57. 3:27pretty much all traitors people are
58. 3:29looking to trade because people are not
59. 3:34trying to make money
60. 3:37trading you for token that's how I so
61. 3:41now I say half jokingly that I don't
62. 3:46know I don't trade anymore I'm just in
63. 3:48it for the money I back in the middle of
64. 4:00January something changed for me and I
65. 4:04slowed way down on my trailer I started
66. 4:07understanding with setups I think what
67. 4:09it was was that as I started to
68. 4:12understand the setups it became really
69. 4:14popular to when I was trading without a
70. 4:17setup and I knew I was gonna lose I no
71. 4:19longer believed my own lies that it
72. 4:22might work out different this time like
73. 4:24all of a sudden if there wasn't a setup
74. 4:26I just knew there wasn't money to be
75. 4:29made and I slowed way down and it got
76. 4:31better and better to the point now right
77. 4:34trade you know there's a setup which
78. 4:37lately has not been awesome and slow
79. 4:39yeah so I about eight trades in July I
80. 4:42can't remember maybe six the June 6 or 8
81. 4:46in June in May but starting in January I
82. 4:52started making money trading the bounce
83. 4:54or trading the bounce plus gap up short
84. 4:59and in the gap up short and I love I
85. 5:02love trading all three of those patterns
86. 5:04and I've made a lot of money this month
87. 5:10I made a 50k 53k gross this month but
88. 5:17last month I made 15k the month before
89. 5:20that I made 20k and it was really all
90. 5:22the same it wasn't that I pushed harder
91. 5:25to make 50k the opportunities were just
92. 5:27there caught it when it was there
93. 5:31so I don't care if I make 15k next month
94. 5:34you know I'm not putting like a judgment
95. 5:37on the it's just a judgment on a my
96. 5:40trading the right setup yeah entering
97. 5:44and exiting with some being systematic
98. 5:51being systematic in how I trade yes
99. 5:54people have a lot of problems with pbt
100. 5:57[Music]
101. 6:00money as people man it's over the PT
102. 6:05[Applause]
103. 6:08without a thousand and the most
104. 6:14consistent passport traits that we make
105. 6:16her week is generally live truth or
106. 6:20under come up or sometimes seven church
107. 6:22and the PDT
108. 6:24allows you to train four times a week so
109. 6:27that's okay it's for you to make there
110. 6:31are the only slight disadvantage that I
111. 6:35would see to someone rapidity and
112. 6:37honestly I don't think it matters is the
113. 6:40fact that it makes scaling in and out
114. 6:41that's the only things a little
115. 6:43challenging but you can overcome that
116. 6:46challenge the truth is if you you just
117. 6:50don't need to trade that much yeah you
118. 6:52don't need to trade that much
119. 6:54I still work have a job I know a lot of
120. 6:59people that are full-time that are not
121. 7:02as far along as I am and they want to be
122. 7:04full-time traders but that just puts too
123. 7:07much added pressure to make money I
124. 7:10don't have like by working as I develop
125. 7:14my skills I don't need any money from
126. 7:18training so the trading is not money to
127. 7:21me I know it to a lot of people they
128. 7:23hear fifty thousand dollars in
129. 7:25it's a lot of money there's a lot of
130. 7:27money I'm not discounting the value of
131. 7:29the dollar but it's not about dollars to
132. 7:33me it's just about learning to master
133. 7:35the craft hit the right trades make the
134. 7:38percentages I don't look at it in terms
135. 7:40of dollars I'm looking in terms of
136. 7:42percentages yeah
137. 7:43wins and losses percent gain you know
138. 7:56and that you've been were okay look at
139. 8:01this right here the number one thing
140. 8:09that I would tell a new person is just
141. 8:12to stop trading just to slow down it
142. 8:15doesn't matter how long these patterns
143. 8:19offer they happen with enough frequency
144. 8:22and they have a good enough we need
145. 8:26percentages of pattern and they offer a
146. 8:28good enough average gain that's another
147. 8:31thing the average gain is that these
148. 8:34aren't staffing patterns you take big
149. 8:36moves you take big chunks of a good
150. 8:38amount of range and these patterns just
151. 8:43offer plenty of opportunity to make
152. 8:46money you don't have to I like the way
153. 8:48you say you're a day trader but you look
154. 8:51at it as a long-term investment in terms
155. 8:54of how often the patterns happen what
156. 8:57they offer you and you don't worry about
157. 8:59what you're making on this one tray you
158. 9:03make a lot
159. 9:06those incremental how much money
160. 9:12never to find those better so in the
161. 9:20beginning when I started with Tim Sykes
162. 9:23you were in the chat room occasionally
163. 9:25he would pop in at the time you were
164. 9:28already very successful and so we would
165. 9:33be really excited when you would pop in
166. 9:35and you would you know maybe you will
167. 9:38talk about a trade give it to or to some
168. 9:42kind of some kind of information about
169. 9:45trading and so I knew who you were you
170. 9:47were you know kind of legendary status
171. 9:49as a trader in there and there was a lot
172. 9:54of buzz around when your DVD was coming
173. 9:57so I was aware of it so that's hot doubt
174. 10:01and the DVD LED meets of two three two
175. 10:05three is such yeah I feel like the
176. 10:11fights if I say the way that I really
177. 10:13feel that your bed so it's a lot of
178. 10:24money yeah because a lot of money in
179. 10:26terms of if you're working a job I
180. 10:28understand
181. 10:29the cost of chair 3 is a it's a chunk of
182. 10:32change but relative to what Stephen is
183. 10:38giving you if you do the work it's
184. 10:42nothing I mean I've made more money in
185. 10:46one trade that has cost me the team with
186. 10:48you all year and I and then for tier
187. 10:51three you get two webinars a week that's
188. 10:54what they tell you in the agreement but
189. 10:58in fact we hit three webinars or four
190. 11:01webinars if there's a if there's a
191. 11:03runner or something hot Stevens in there
192. 11:05so it's a steal I almost want to turn
193. 11:13off the camera but you know speaking to
194. 11:19that the amazing thing about and I I'm
195. 11:22not saying this like an expert you've
196. 11:24taught me this but I believe it because
197. 11:26it makes perfect sense that these
198. 11:27patterns are never gonna go away because
199. 11:29they're based on the resistance created
200. 11:34by all the new people that are coming in
201. 11:35to learn how to trade stocks and doing
202. 11:37what I did in the beginning what we all
203. 11:39do in the ratio it doesn't matter if it
204. 11:48doesn't matter if unbreakable
205. 11:50resistances is 60 million shares today
206. 11:53and a year from now maybe 60 million
207. 11:57shares there's just light resistance but
208. 11:59it doesn't matter because there'll be a
209. 12:00new number that would represent them
210. 12:02breakable yeah so that's why people when
211. 12:04asked to be a lot of padding gets
212. 12:07outdated it never got out because we're
213. 12:10using historical and current day
214. 12:13compared to each other get the ratio and
215. 12:15make sure we keep safe okay so I have a
216. 12:21job I actually am a business owner I own
217. 12:24part of the business and I'm 49 years
218. 12:30old which is you know young well it's
219. 12:36not real young I still have plenty of
220. 12:38life ahead of me but I want to but I
221. 12:43want to enjoy it more I want to free up
222. 12:44my time I want more freedom of time for
223. 12:48family for travel and so what I'm trying
224. 12:52to do in a very systematic safe way is
225. 12:56start to replace my income with the
226. 12:59training so that I can transition out of
227. 13:02having a day job and eventually with no
228. 13:07stress training the same way that I
229. 13:10trade now which is not worrying about
230. 13:11the money from day to day when I trade
231. 13:13I'm not worried about the money because
232. 13:15I don't need the money I pay my bills
233. 13:16from working when I transition out to
234. 13:18full-time training I want to be just as
235. 13:21stress-free where I just have my systems
236. 13:23in place I'm systematic
237. 13:26that's my dream it's not a lofty dream
238. 13:29it's it's going to happen let us say
239. 13:34something that sounds crazy I'm a
240. 13:40seven-figure trader in the making I know
241. 13:43I know I'm not making seven figures now
242. 13:45I don't say that from arrogance
243. 13:49you go and this morning at 3:00 in the
244. 13:52morning when everyone was asleep I was
245. 13:56entering statistics I was up for you so
246. 13:59I'm doing the work but the point is
247. 14:05statistically the patterns offer up
248. 14:07seven figures a year yeah it's there all
249. 14:10you have to do is become competent
250. 14:12understand how to manage your money how
251. 14:14to manage your risk how to trade these
252. 14:17patterns and allow the account to grow
253. 14:18and the liquidities there can make seven
254. 14:23figures like this it's not a lofty dream
255. 14:26to me it's just it's laid out in front
256. 14:27of me
257. 14:38[Music]