This is My Stock Trading Journey

Stock Trading

All of the posts under the "Stock Trading" tag.

Top 10 Things to Know Before Attending NVOWS Seminar 1 (Now known as TRADEway Step 1)

It appears that many people who check out my blog do so after hearing about Neuventure on Wall Street on the radio and a quick Google search leads them to my Seminar 1 review so I thought it might be helpful to put together a quick list of 10 things to know before attending a NVOWS Seminar 1.

  1. Overall people dress pretty casually. You’ll see plenty of blue jeans.
  2. Be prepared for A LOT of selling. There is almost as much time spent listening to sales pitches as actual stock trading content.
  3. What NVOWS teaches about trading is not a big secret. It’s not some kind of special information that only they have and the rest of the world is oblivious to.  (Yikes…I was actually naïve enough to think this on some level…)
  4. Google ‘swing trading’ before you go and read up on it. That’s basically what they will teach you.  I recently stumbled across this article and think it’s worth the quick read.  It’s entitled, “Is Making Money From  Swing Trading Too Good to be True.”
  5. There are many breaks and use them wisely. By wisely I mean network, talk to people, learn everything you can from the person sitting on either side of you.  Ask them how long they’ve been trading, what mistakes they’ve made, which coach do they like to talk to, are the home study courses, webinars and Insiders worth the money, are they profitable.  You get the idea and if you find someone who has been consistently profitable, I beg you to please send them my way.  I have only met 1 and would like to increase those numbers.
  6. Take a look around, you never know which other student sitting around you might one day be your coach. Happened to me.  I met a super nice guy in the row in front of me at a seminar.  I had been trading a couple years and he had just started a couple months ago and had never actually placed a real money trade yet.  So, I was walking him through how to use TeleChart and some of the different things I had learned over the years.  Within months I called into NVOWS and he answered.  He wasn’t a coach and speaker yet but within a year he was.  You can’t make this stuff up.  So just a heads up your presenter or coach may have very little actual trading experience.  This is one reason I’ve always enjoyed learning from and listening to NVOWS speaker John Quinn.  This guy learned trading inside and out and became good at it even before being hired by NVOWS.  He knows what it’s like to flounder and struggle and scrape to learn trading and he strikes me as a bit of a genius.
  7. Try to stay calm and prayerful. A lot of big numbers will be thrown at you and you will see dollar signs and visions of all your financial dreams coming true but try to stay calm and prayerful.  There is no rush.  They will make you think there is a rush and this is the best price and deal you will ever get, but it’s probably not and you can always retake the Seminar 1 again sometime where similar deals will be offered.  Just take your time to really count the cost and decide if this is what God wants you to devote your time and energy to.  Check out my post here for questions to ask yourself when considering trading.
  8. NVOWS teaches waaaay more than just trading. They teach people how to think outside the box of 9-5.  They spur on the entrepreneurial spirit.  They teach about politics, the Bible and risk.  My husband and I are thankful for the many ways our eyes were opened.
  9. It’s not a scam. The NVOWS corporate team seem to really love people and think they are helping people.  (I’m still personally trying to figure out if they actually are helping people financially but that’s not what this post is about.)  They are just a great group of people teaching others how to trade stocks and option, etc.
  10. Please check back into the blog after you go and share your experiences and thoughts. There just isn’t a lot about NVOWS on the internet and we students need to stick together and learn from each other.

Trader April 15, 2016 5 Comments Permalink

Meet Featured Trader, Kelly

Meet our newest featured trader, Kelly.

Q: How long have you been trading?

A: 1.5 years

Q: How many trades do you think you average per month or year?

A: 3

Q: Why did you decide to start stock trading?

A: Husband thought it sounded like my personality

Q: Have you been to any NVOWS seminars?  If so, which ones and what were
your thoughts on them?

A: 1,2,3,4,Entity  Too much selling and not enough practice  Good info too
 
Q: Is stock trading what you expected?

A: Yes

Q: What strategy do you prefer? (i.e. spreads, stocks, options, etc)

A: Working towards Credit spreads

Q: Are you consistently profitable?

A: Not yet

Q: Would you recommend someone join Top Gun?  Why or why not?

A: You can get the info cheaper other places

Q: Besides NVOWS materials what other resources (books, websites, people,
etc) do you use?

A: Trade smart University has great videos and they make it very understandable! 

Q: Anything else you’d want to add.

A: Would love to meet in Omaha maybe 1 time every 3 months to talk about what is working for people and what to avoid.

Trader October 14, 2015 3 Comments Permalink

Shemitah and the Stock Market

Who is ready to talk some Shemitah or Shmita?  Now is when about half of you are either nodding or shaking your head and the other half are wondering if I just sneezed or what in the world did I just say.

Shemitah is the 7th year of the 7 year agricultural cycle where God commanded the Israelites to let the land rest.

Leviticus 25:3&4 “Six years you shall sow your field, and six years you shall prune your vineyard and gather in its crop, but during the seventh year the land shall have a sabbath rest, a sabbath to the LORD; you shall not sow your field nor prune your vineyard.”

We are actually in a Shemitah year right now.  They usually start and end in September and this year’s Shemitah officially ends September 13th.  Now, what does this have to do with the stock market?  More than you might think.  The last Shemitah ended on September 28, 2008.  That date should ring a bell with most stock traders.  It’s the day the Dow crashed 777 points, a 9% drop.  The Shemitah before that ended September 17th 2001 when the markets reopened after the September 11th attacks and crashed 7%.  During the 1994 Shemitah year the bond market crashed.  In 1987 the stock market crashed.  I’ll stop there since you have the idea but several other major economic upsets have happened during Shemitah.  So will the market crash again on the last day of Shemitah, September 13th?

No.  Absolutely not.  Not a chance….it’s a Sunday 🙂

Could it crash sometime in September?  We’ll just have to see.

But how ’bout you?  Do you think we’re in for another crash this September similar to the end of the last two Shemitahs?  It’s definitely interesting.

For further reading check out these links:

http://www.wnd.com/2015/09/statistician-data-proves-shemitah-financial-collapse/

http://www.charismanews.com/opinion/51107-10-things-that-are-going-to-happen-within-15-days-of-the-end-of-the-shemitah

http://7yearcycle.blogspot.com/

 

Trader September 1, 2015 3 Comments Permalink

Q & A With An Actual Trader- Kevin

This is the big day!  For over a year I’ve been working on a special feature for my blog where ordinary everyday people turned traders would answer a few questions.  I hope this feature will help guide many as they decide if trading is for them and who they should learn trading from.  I also think many traders will benefit from learning how other traders are doing and what is or isn’t working for them.  Each week I will highlight one trader until I have no responses left.  If you would like to be one of my ‘ordinary everyday’ featured traders please shoot me an email.

So without further adieu…meet Kevin.  He should really be one of those people in my People You Meet Along the Journey post because he is definitely one I would not have met had I not started trading.  We met through my blog and he’s been my closest ‘trading friend’ since.  We’ve been bouncing trades, stock market theories and life off one another for years now.  Two weeks ago my family was fortunate to meet his beautiful wife and family as we passed through his neck of the woods for a wedding.  They were gracious to open their home, table and lives with us as we talked well into the night. (At least it felt that way since we all have very little ones.)  Okay okay enough with the rambling, here is a little Q & A with trader Kevin.

Q: How long have you been trading?
A: On and off for over 2 years.
Q: How many trades do you think you average per month or year?
A: When i am actively trading, I average about 5-10 trades a month.
Q: Why did you decide to start stock trading?
A: I was initially drawn in by radio ads from David Mitchel, and attended a 2 day seminar and enjoyed it a lot. But long before that, I believed (and still do) that the stock market is one of the few remaining level playing fields where anybody, regardless of background can make money with the right skills.
Q: Have you been to any NVOWS seminars?  If so, which ones and what were
your thoughts on them?
A: I’ve attended seminar I twice, and seminar II three times. I enjoyed both seminars, but they tended to run much longer than needed. I think both could have been condensed into a 1 day seminar by omitting much of the up selling on their other seminars and products. The information from seminar I lays the foundation on knowing when to be in the markets and provides a basic strategy for market timing, and seminar II teaches options buying strategies using the same chart patterns taught in seminar I. The seminar speakers are knowledgeable and entertaining, but their presentations are basically derived from slides made by David Mitchel. Sometimes the information on the slides begs a question that goes un-asked, and I found that sometimes the best bits of information gleaned from attending the seminars came from privately asking the speaker during a break rather than during the actual presentation.
Q: Is stock trading what you expected?
A: Heck no. I never expected the emotional roller coaster it would turn out to be for me. I never expected it would be so tempting to not follow basic rules.
Q: What strategy do you prefer? (i.e. spreads, stocks, options, etc)
A: I prefer buying options, long calls and puts. Spreads come in at 2nd.
Q: Is there anything you know now that you wish you had known when you
first started?
A: Can the answer be “everything”? In all seriousness, if i had to give myself advice 2 years ago, i would say to stick to the basics, all of the fancy strategies you are tempted to try out are a dead end. Timing is everything and getting the stock direction right is only half the battle. Buy options with plenty of time till expiration to give your position time to work itself out. Don’t get greedy and take profits when you still have a chance. Don’t try to shadow the trades of a day trader who makes millions unless you are actually approved to day trade in your account. (I was dumb enough to try this).
Q: Are you consistently profitable?
A:Not at all. I’m consistently unprofitable. I’ve made thousands and lost thousands, but i’ve definitely lost more than i’ve made. Every loss is a lesson, and sadly i think learning the hard way seems to be the only way i’ll learn. On the bright side, I think i’m on my way to actually learning to not do dumb things.
Q: Would you recommend someone join Top Gun?  Why or why not?
A: This is a tough question, because I want to say yes! absolutely join top gun! The information taught is good and solid and has the potential to earn you much more than you paid in tuition, but now that i’ve been around the block so to speak, I am a little hesitant to recommend. Why? Because the information is readily available for free elsewhere. The tricky part is knowing what information to seek out online. Listening to the wrong person can be very costly, which I know from experience. I am tempted to tell just a few key words you can google to find all the information you’d ever want, but maybe that’s not fair. You’ll just have to sign up for top gun. 🙂
Q: Besides NVOWS materials what other resources (books, websites, people, etc) do you use?
A: In no particular order: 1option.com has a daily market analysis that is helpful. Even more helpful is his “options strategies” and “option Q & A” sections which are a goldmine of information. I also visit https://tradinglicks.wordpress.com/ which has a unique perspective on the market. The blog author invented a market timing indicator using volume alone and i think it can be a valuable tool to see which direction the big money is pointing towards. I also sometimes i listen to the market recaps from Brian Shannon, a certified market technician at http://alphatrends.tumblr.com/. He has some enlightening blog entries as well. I’m also reading a book by Richard Wyckoff, one of the pioneers of technical analysis – the guy who coined the terms “support and resistance”. Much of his book is in harmony with NVOWS/David Mitchel, but his ideas on volume analysis are different (and better). The book is called “The Richard Wyckoff Method Of Trading and Investing in Stocks”
Anything else you’d want to add.
A: There is a reason most people lose money in the markets. It is hard! Don’t beat yourself up if you’re one of the 85% of market participants not making money. Keep at it, keep learning (from good sources teaching sound principles) and dont give up. A person who takes risks with his/her money is wiser than the person who sits on it, even if the risk does not end with reward. Money will come and go, but the experience and knowledge gained from participating in the stock market cannot be replaced. Many people after years of hard work and determination finally have their light bulb moment and began consistently making money, but prior risk and failure is almost surely a part of that path for most.

 

Trader August 13, 2015 Leave A Comment Permalink

Excuses Excuses and Other Stock Trading Lessons from Proverbs

Proverbs is probably my husbands’ favorite book of the Bible. He’s never actually said that and I haven’t asked but I see him reading at least a few Proverbs everyday and often while I’m cooking or in the evening when we’re taking it easy after the baby goes down he’ll just pick up his Bible and start reading Proverbs to me. I love that he does this. It fills us and our home and air with such Truth.

Two verses in particular jumped out to me in regard to their application to stock trading. The first was Proverbs 21:5.

The plans of the diligent lead to profit as surely as haste leads to poverty.

Plans of the diligent: Getting a stock trading education which may look different to different people. Some will pay for a course, others will read books by trusted traders or find great resources on the internet and many will find a great mentor. Most will do all of these. Then building a trading plan that works and sticking with it. This contrasts with ‘haste leads to poverty.’ This would be quickly funding an account and trading before taking the time to learn the trade (haha play on words 🙂 ). It could also include trying to take large positions before proving to ones self that you can follow your trading plan/rules and be consistently profitable.

The other verse was Proverbs 22:13.

The sluggard says, ‘There is a lion outside!’ or, ‘I will be murdered in the streets!’

Okay now you might be thinking I’m crazy but I think this verse can definitely be applied to my stock trading journey. Stock trading is full of uncertainties but we can’t let those uncertainties become excuses. This proverb is all about finding excuses instead of taking a step of faith and doing something. A sluggard finds an excuse for everything and I pray that doesn’t become me in stock trading.

Proverbs is filled with many other helpful verses for the stock trader, especially ones about pride and greed, which as we all know are huge enemies of the stock trader. How ‘bout you? As you find verses that help you in your stock trading journey please share them. I think it will be an encouragement and helpful tool for all of us.

Update: Since posting this, one reader sent me another Proverb I thought I would share.  Proverbs 28:20

A faithful man will be richly blessed, but one eager to get rich will not go unpunished.

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