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DDT
1
DDT Nov 09, 4:39 PM

Awesome week Jake. Congratulations!

karman
1
karman Nov 09, 7:48 PM

Thanks Jake.. great summary and explanation of your trades. I was following these tickers as well.. Hoping to see more videos like this and wish you more success.. well deserved

Jayray_68
Jayray_68 Nov 09, 8:09 PM

@DDT thanks brother! Another day another dollar!

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Received 4 Karmas
karman
1
karman Nov 01, 7:35 PM

Great recap. Good to come out green on the day, like you did. Definitely good to keep size in control in this market condition.

brandonkoy
1
brandonkoy Nov 02, 1:55 AM

how much were you risking that you felt was too much and whats your new risk going to be as you downsize

DDT
1
DDT Nov 03, 11:24 PM

Thanks for the review Jake.

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AllenMorelock

I've never added anything on here before, but hopefully what I'm going to say will resonate with a few of you and maybe help out. The Vegas conference was my first, but definitely not my last. I arrived, honestly embarrassed of my trading. I'm coming up on 3 years and my numbers are nowhere near where I want them to be. I only trade a couple of hours in the morning and then have to shift my focus to my current business that I own and operate. Finding time to study is difficult, finding time to trade is difficult. It's all damn difficult! lol. After talking with Tim, Matt, Bryce... and listening to everyone, I feel much better about where I am! The best of the best were still struggling at my point and they were putting in 10, 12, 14 hour days... I guess I should feel proud for not (to this point, I sure don't take it for granted) blowing up my account and being on a steady incline on my profit chart. My numbers are nowhere near where I want them, but they're going in the right direction! I'm definitely going to start studying more and reading some of the books that are recommended to us! I've already started reading The Psychology Of Trading, and have Reminiscences Of A Stock Trader, and Beyond Greed And Fear on hand to read next. Meeting Jayray_68 (Jay Racine) really kicked me in the ass too! He also owns his own business, tells me about how he’s still working at 1am, and he’s crushing it with his trades! NO. MORE. EXCUSES! Just effing do it! Learn something every day, put effort in when others won’t, and good things will happen. Hearing Ellis lit a fire under my ass as well! Trade like a pro! Prep like a pro! Just be a pro! Year one, to the day, I broke even. Year two, I made 1k profit. This year I’m coming up on 5K profit while still trading very small. Next year I plan on having some lofty goals and hopefully hiring someone to help run my business so I can put more time into trading. Hopefully the market provides. If it does I want to be ready! Cheers!

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Jayray_68
Jayray_68 Oct 31, 5:20 PM

Strategy+seat time+risk reward+patienc+hard work = success . Let’s get it🤘🏻

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Jayray_68

Super awesome to put some faces to some names finally, pretty awesome to answer some really in depth questions at the 2023 conference as well. Lots of traders with a desire to become better. That’s a good thing. It takes a ton of trial and error in this industry to find out what works for you my biggest take away from the conference is everyone sitting on stage capitalized on the mania when it presented itself and worked on perfecting their strategies in the slow time. This is important for me and it ties into seasonality. As the market presumes to be bearish. I’ll focus on doing what I’m doing and not feel obligated to necessary push my size as I was beginning to. And wanting to, there’s a time and there’s a place for pushing size and capitalizing on my strategy’s and current market conditions are telling me take what I can get for now and just be prepared to push size when the opportunity finally presents itself. So far I’m staying pretty locked in and comfy with these $300-$400 losses in our current market. It’s not a cookie cutter approach everyone’s strategy , comfort, account etc is totally different so defining what you’re willing to lose in your strategy will be different than mine. My goal for 2023 was to not let my account take any big hits and proud to say I’m only a couple months away from succeeding this goal thanks to 2 golden rules. Rule number 1. Never add to a loser. Number 2. Always have a predetermined dollar loss in mind per setup and size in so I’m not risking more than that dollar amount. This has allowed my winners to almost always outweigh my losers and has been a huge push forward in 2023. If I complete my annual goal for 2023 I can set a new once in 2024 and I already know it’s going to consist of letting my winners run and having more patience. Trading is like stacking blocks. One at a time and in uniform is the best way to build the tallest and strongest wall. Happy to say 2023 has been a great year of profitability especially in such a slow market where other traders have been simply trying to survive. But it’s not luck it was hard work dedication and the thirst for financial freedom. There’s no expiration to become a successful trader just know that, everyone’s pace everyone’s life style is totally different. It’s up to your dedication on how fast you want to speed up that learning curve. I do have to say met some great people at this conference probably the funnies response was “Jayray you’re not at all what I thought you were, you’re a lot more hillbilly than I imagined” literally will be laughing at that comment for years to come. Great meeting you all. Never forget it’s strictly business out here. The second you get comfy is when you get run over. Every day is the chance to learn something new no matter how far along in your career you are. God bless and trade on! If we met at the conference let me know what your favorite thing was would love to hear it🤘🏻

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Hirtz
2
Hirtz Oct 29, 1:05 PM

You are a hillbilly! Try to avoid elevators for a while! Best part of the conference was putting faces with the names and discussing different viewpoints/strategies.

brandonkoy
1
brandonkoy Oct 29, 11:32 PM

you the man jayray fav thing was everything

AllenMorelock
1
AllenMorelock Oct 31, 1:40 PM

Hirtz summed up what I was going to say...lol You've been crushing it this year! Keep it up! My favorite thing was definitely meeting everyone and hearing their stories, good or bad.

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Jayray_68
2
Jayray_68 Oct 15, 4:15 PM

@tmtNick doing videos for myself is very good data and mind set for me to look back on if i fall of track... thursday was a sloppy red day for me... watched some of my old videos to pick my own brain and get back on track

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Received 5 Karmas
Jayray_68
1
Jayray_68 Oct 11, 8:58 PM

@karman happy you enjoyed it! Find out what works for you and focus on it and do your best to avoid where you find yourself losing money. Find your mentality of the trader. You can really speed that up with data collection. Small frustrating losses in the beginning are totally normal just keep them small enough to where you can afford to learn from them. If you feel a trade is random avoid it at all cost or collect the data on that specific situation so you know the statistical odds of what you

Jayray_68
Jayray_68 Oct 11, 8:59 PM

Are getting yourself involved in

karman
1
karman Oct 11, 9:37 PM

Thank you. Yes, tracking my data and tweaking them constantly, trying to get my key metrics right l, cutting out strategies I am loosing. Writing watchlists with key levels to look out for based on daily and intradaily charts. I am not in a rush to make money quick, I do this next to a good paying job, but goal is to have the optional at some point. Learning a lot from you, hope I will be able to meet you at conference. Thanks for all you do

Jayray_68
Jayray_68 Oct 11, 11:11 PM

@karman solid mind set there , theres no expiration to becoming a successful trader no need to rush into it take your time trade small so you can afford to learn from every trade over time youll get it.

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Jayray_68
1
Jayray_68 Sep 30, 11:53 PM

When the market gets better or if there’s a 10 out of 10 setup that’s when I’ll be more willing to lose 1000, 2000+ , on some trades and really try to push some size but for now it’s pretty comfy with 300 400 dollar losses on setups that I know.

DDT
1
DDT Oct 01, 1:59 PM

Appreciate the video lessons Jake.

karman
1
karman Oct 11, 8:49 PM

Thanks for posting this. Multiday runners and finding key areas to enter and exit will lead to success. Thanks again

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brandonkoy
1
brandonkoy Sep 29, 12:41 AM

rare SLNO situation. nice job talking thru your thoughts. SLNO you took 400 shares at 24.5 $10k position on a lighter side because you were not fully convinced how much would you take normally when fully convinced

DDT
1
DDT Sep 30, 8:41 PM

Great reads bud

Jayray_68
1
Jayray_68 Sep 30, 11:42 PM

@brandonkoy if this were more active on volume I would be looking to push more towards 600-800 shares for the mind set of the quality in the trade and how much I’d be willing to lose. Haven’t really been pushing size lately still my first week back from vacation and these E*trade bugs have been adding discomfort to my trades, so if I go too big emotions start to set in and interrupt my risk vs mentality.

karman
1
karman Oct 11, 8:01 PM

Great video.. finally was able to catch up on that

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