4.17.22 Session 5

Pre-Session Q&A 

Question: What has been your journey in trading?

Flew through life milestones: got a job at a event planning company, traveled the world in that job. bought a house very young, got married at 23, 

traveled full time for an events company. got divorced quite young. I was really miserable.

He wasn't around, wasn't present in that relationship. had to sell the house, cars, and divided the assets 50/50.  the job got worse. 

Invested 20k to do a persons' training may 2016-7. the training started November.

met my partner, we have 2 kids together now. we both quit our jobs and started on this journey. moved out to France, my parents went there to retire. I hardly saw them when I was working so hard. let's concentrate on trading, give it all attention it deserves.

The training was slow pace, wasn't sinking in. lost 10k pounds. guy I signed up with, 90% of his trades would go wrong. every week the strategy would change. I thought something wasn't right. 

I started doing research and found out he was a con man. he lied about working in wall st, he conned people in the UK. 

After a year, losing money trading, was barely getting by. Nothing worse than putting money into something and getting cheated. horrible place to be in.

TO BE FAIR TO DARREN, I learned more in 3-4 days doing this class than 6 months with the other guy. I had to grow my account. I've been doing this for 5 years. they have been months I've done 300k. that's the testament to have the dedication. if you want to get good at this, put your time to it. 

I'm not saying quit your job. people have to transition. that was what my journey entailed. enjoy what's coming, all the content. back to Q&A later. 

SESSION 4 

Darren: I spend no longer than 20 minutes, I automate things. I hate when day traders have to sit in front of the computers for hours. 

I look at this list of companies, or items I should say. 

40 Top companies, sp500. 

SAMPLE:

15 minute chart, across 5 days worth of data. where does the stop go? right below the support point. what would be the target? normally would be resistance, however we will do halfway. 

I gotta check the distance from where I buy it to my target is at least twice as big as the distance from where I buy it to my sell stop. That distance there, need to be at least 2 times that distance there. 

If that is the case, what I'm going to do is, I'm gonna place what is called a sell stop, YOU DONT WANT IT ON THE TARGET YOU WANT IT JUST BELOW THE TARGET IN CASE IT DOESNT GET THERE.

SELL LIMIT- means sell it if it gets to that level. what I do this (I normally do this in the morning). I get maybe into 3 to 5 trades in the morning. I set my sell stop and my sell limit and I just leave them. Go out for the day, do whatever you want to do. What normally happens is, our 5, usually 3 to 4 have hit my sell limit and i have made my profit. Some his sell stop and I 

4/5 made a lot of money

2/5 made a lot of money

1/5 sometimes I still make money.

i used 2 to 1 risk ratio. ocassionally, i lose money on a day but that is very rare. 

One of our team members she makes 1k a day, for the past 3 months. she got really good at one strategy. 

if I hasn't hit these stops within a day, what you do is, on day 3, you get out at the best price you can. 

If it was bouncing up and down, you get out on the trade if it has gotten up for her. 

WHY GET OUT ON DAY 3?

You don't want to tie your money on a trade that is not moving, because TIME IS MONEY.

It could be going sideways instead of up and down,

for this strategy, it has to be twice as big as the potential risk.

Q: could I give an example? tomorrow morning I will go specifically going through the 

Q: why sell stop?

I use sell limit for this because I don't want to watch it. I don't want to spend time doing it. I'm automatically out when it hits the sell limit. At the end of the day, I check how did I do? 2 out of 3, 2k profit, good. 

Some say how do you get kids good at this? This is the first strategy that I taught my kids. I taught them chart patterns, support, resistance, and they got started on demo accounts. 

when i first started teaching them investing they thought it was boring. what I did is, on holiday when I let them go into computers, they play Minecraft or Fortnite games. I made a trading competition. whoever makes the most money at the end of the holiday, you get whatever gift you want. they had 10 days in holiday. they were really competition, it was fun because it was competing. 

daughter would be up talking about Euro markets when I woke up. son got account up 32% my daughter got the account up 22%. she made 2,200 in my account from a 10k account.  did i make more than my teacher? I said yes. She said get me a real account now.

When you get good, teach your family. I taught my sisters, brothers, my brother got really good at it. Let me tell you his lifestyle since he learned trading. spends 5 months a year snowboarding, outdoors, 5 months surfing in Portugal bought himself a great place. 2 months a year in UK windsurfing. that's been his life past 15 years. He does 1 hour a week trading. He is more lazy now, he uses my watch list and he trades off of that. 

I bought a new house in London, I bought a nice house. 3.5 million, I did a nice refurbish job on it (renovation). I did a nature theme, I sent my brother a picture of it on Skype just to brag a bit about it. Doors opens to a garden, very nice.

I taught my sisters. One of my sister is a horse ridding instructor (we grew up in the countryside). She bought a field, she built a horse holiday riding place, which was her dream. She said I don't love trading, but I love what it allowed me to do with my life. 

Q: PENSION

As soon as you get good at this, ask if you can take over and manage the pension. At the age of 55 you can withdraw a big part of your pension, tax free, and you can invest it, get great income from it and grow it at the same time. 

Q: What do we do for Forex?

look at top 20 currencies and look for that setup I showed you, 15 minute chart on a 5 day data set. Look for those patterns.

For companies, same look at top 20 companies. 

If you are getting out and in pretty quickly, you want to make sure it doesn't cost a lot to trade.

Forex has teeny spreads, it costs almost nothing to do.

SP100 and SP (missed it) probSP500.

GUY (ONE OF DARREN'S STUDENTS)

My main concern was how to grow a small account into a big account, and how to do that fairly quickly.

This is a currency play, on FOREX Market. It's always a good place to start. Spread is really small and you are practically risking nothing 

I bought right here, just under support. I entered at this point (entry shows in power point notes of session 5) 

I'm risking 30 points at 10 pounds a point, how much risking? 300

risk 300 to potentially make 1800 pounds. After a couple of days later, it did reach my resistance level. 

This is daily time frame by the way. 

FOREX CALENDAR

On this day, its dropped massively. it hit my target, 200 points in one day. I booked holiday the same day. Crude oil inventories came out that day, and the news drove the price down. 

risked 500 pounds and made 3800 pounds in 6 days. who would be happy with those results?

Anyone tell me what reversal pattern that was? HEAD AND SHOULDERS (LOOK NOTES FROM YESTERDAY)

Go back on the lower time frames, see if there has been any reversal patterns.

4 to 1 risk ration at this time, who would be happy with that? brilliant. 

IT CAN BE QUITE EASY, SIMPLE WAY TO MAKE MONEY JUST HAVE TO KNOW WHAT YOU ARE DOING.

with Forex, 5.3 Trillion a day is traded. its very volatile market. If you know what you are doing, you know how to get in and how to get in. 

10 weeks I went up to 30k from 10k pounds. 

I was doing a lot of day trading. I set myself a 

all the markets are run on massive human psychology. good chance you know where its going before you get there. 

I had a target, indicators, just put it all together to confirm the right strategy. 

DARREN:

He was using take profit target, the chart patterns.

He was doing a couple of minutes a day, not time intensive. He's almost retired now. I wish I had learned this stuff when I was as young as GUY is. 

I got a goal, international best seller book. How can I experience that before I actually achieve it? This is what I did. I made a website, it had a book cover and said Amazon best seller, 5 million copies sold. I would wake up every morning and look at it. I did that about 5 to 10 minutes each morning for 2 weeks.

I had no idea how to publish or market a book. No plan at all. But if I do this, I will start to attract the right things into my life. I was an email out of nowhere, how to write an international best seller book. I'm like that's exactly what I need to know. it was advertising a course in London. I got a ticket, took the training course. 

They had 7 speakers. Most where international best seller they were teaching their strategies and selling their services. I found 2 people that I think were the best. 15k pounds for mentor me one to one, to mentor me. He said he was 10 time international best selling author. It took him 7 years to figure it out.

I know how to get amazon bestselling book. I know how to get it, i know the strategy to do it. I wouldn't say it to him, but his book is not good. in Life, you don't have to be smart,, you just have to know the strategy, you copy it and you get the same results. 

WEALTH BELIEFS

What is a belief? 

Something you think is unquestionable. Your beliefs is a set of rules about how you think life works. Some belief life is hard work, and some people belief life is great fun. We experience what we belief more than ever. 

ex. at school you were bad at sports but you believed you were really good. might you get involved at sports club? yeah. would you practice by yourself? yes. may you start to get better? because your beliefs have affected your actions and get certain results.

YOUR WEALTH BELIEFS ARE IMPORTANT. And your beliefs have gotten to where you are now.

When i found out, I was 50k in debt. I read autobiographies looking for good wealth beliefs. and I found 5 good wealth beliefs. I think those 5 beliefs had big part from 50k in debt to 1.5 million in 3 years. 

How do you get yourself to believe it? You repeat it. 

They were so powerful they changed my results forever.

#1 WEALTH BELIEVE

IF SOMEONE ELSE CAN DO IT, THEN SO CAN I

When I see someone really good at what they do, I think to myself I can do that too. I can get results that took them years in a few months if I have the right strategies.

#2 IF YOU ARE CREATIVE ENOUGH, YOU WILL FIND A WAY. 

Has helped me a lot in business and personal life. If you have a problem with no answer, i try to automatically think of this belief. Just get a bit more creative, there is going to be an answer. If you are ever stuck with a problem, I say get a little bit more creative. Its helped me out a lot in situations in which I am stuck on something. 

#3 ANYTHING IS POSSIBLE.

You can't do that, its not possible. You say: Yes I can, and yes I will. 

I have been in business meetings where I say what I want and people say no you cant do that, its impossible. I say yes I can and I go out and do it.

I read Elon Musk book and he tells people what he's going to do and they say no, you can't do that. and he goes out and do it. Then he does it again.

When I have a new belief to make my own, I deliberately go out of ways to practice it. when I go to airports, quite often I'm late. I turn up at the checking desk and I say I need to check in for my flight. They say sorry its closed. they say sorry it's impossible its closed. 

3 strategies to where I always get checked in, no matter where I am in the world. I was trying to practice when someone is telling me that its impossible. I'll tell you the best one. First one, what you do is this. Last time I did this, when I travel with my family I try and get there early. We went to Barbados we were late, I knew we were late. We get to the check in and its closed. I say to my kids, watch this. I run back over, I say we are only a little bit late. Can you please make an exception for us here? I was talking with John, I say okay John who here has the authority toget me checked in. noone. If there was someone, who would it be. James. Where is he? over there. I went over there. I say are you james? yes, I spoke to John and he said you are the only person here who still has the power to get me checked in is that correct? He doesnt want to say no I am a nobody. He thinks about it for a bit. (by the way when I ask that questions, is that correct?) I then shut up and let him think. He'll say YEAH, I COULD DO THAT. I say Thank you so much, you have helped me so much. He stands there, saying wow I didnt agree to do that. I am looking away, looking at the place at where I want to go. 

People in authority need to show their authority. Usually its by stopping people for doing things but if you can show them that they can show their authority by helping you, it works in your favor. 

IN LIFE, I ALWAYS LOOK FORA  SHORT CUT. We went race car racing. I said should we try and win this? Should we learn the strategies to win this? I did google search and put best line, and saw a video. 

How to break and accelerating video and watched video. The guy has a fastest time on this track. I asked him. He told us how to do it. 

End of day, daughter was #1, son was #2 and I was #3. We had never raced before. 

#4 THE MORE I INVEST IN MYSELF, AND MY REAL EDUCATION, THE WEALTHIER I BECOME.

I don't mean school or college, that's to get a job. I mean REAL LIFE SKILLS. 

That's helped me loads in my life. Even this year, I have paid and attended 5 training course. Not on investing, I got that down, on other topics that I want to improve at. One of my mentors is a real estate guru. I spoke to Liam he said get 20 apartments and increase the yield that you would get. Get mentors on the areas that you are not mentored in. 

You already have that belief, or you wouldn't be here. 

#5 THE MORE I GIVE, THE MORE I GET. GIVE WITH NO EXPECTATION BACK

It always comes back. Before each day start, I sit in my office and I imagine this all going really well. I imagine than when I come out here, and everyone here is my personal friend and I want to help you as much as I can. and it will be a great day. I learned that from Tony Robbins. 

A lot of you in your life you have helped someone and it comes back to you many times. I met a guy he had run a business, he had never run a business before. He had no money or service to provide, but I liked him. i liked his business idea. I helped him for free, I helped him over the next year. We got his business from nothing to (missed the number). 

He called he said I met someone that you can do something in business with. Should I set up a meeting? and I said yes. and from that meeting, I got paid 500k for 3 days work. 

CHARACTER TRAIT: PERSISTENCE. 

They have failed many times in a huge way, but they keep going. Definitely that is the number 1. To think about trading and investing. If you do your first trade and it doesn't work out. You do a bit more practice and do another trade. People failed a few times first.

GUY'S STORY:

Before he met me, he traded by himself and lost a lot of money. He kept looking for the answer. He met me and things got better. 

CHARACTER TRAIT: YOU GOTTA BE WILLING TO TAKE CALCULATED RISK.

Not stupid risk. 

CHARATER TRAIT: OVERCOME FEAR AND TAKE ACTION ANYWAY

We are scared when we try something new. First trade I did was 25 years ago. I had to call stock broker, no online stock broker yet. I was so scared I was shaking. You just do it, that's how you overcome that fear. I was reading a while back, a survey or people's top fear. 

TOP HUMAN FEAR: PUBLIC SPEAKING.

I can appreciate that, when I was in school I am pretty sure I was the shyest. I couldn't even talk to people one to one. I was so scared of doing that that I never did it. I missed school when it was my turn. At 14 I realized this would be a problem in my life. When I moved to London, I decided I would deliberately do what scares me the most. 

I'll do it in a nice easy way. Taught a night class. I wrote an email. i got no experience but I got a good topic. I wrote to 5 more colleges. i wrote to 20, I wrote to 300 more colleges in London and around London. 1 wrote back, saying okay. Stanmore college. I taught a class for 1 year. First lesson, 10 people in the class. I was always physically sick. I'm so sorry I have never done this before. I got good stuff to teach you just scared to do it. Next lesson next week was pretty bad. By end of week 10, I was okay with 10 people. I wasn't' good, but I was okay. Next term I had 50 people in my class. By week 10, I was okay with 50 people. Just do it until you overcome it. 

2,000 people I spoke to those people absolutely no fear. I had done it so many times. 

WHEN I SEE SOMEONE REALLY GOOD AT WHAT THEY DO.

I think I bet they were bad, they have done it so many times and now they are really good. 

I can be as good as them or even better if I learn the strategies. 

STORY: 15 years ago, i wanted to do crop investing in eastern europe. We went out, did our search. Found lot of good investment properties. saw this guy a year later. property had gone up 100% that year. I bought a 70 century building, 3 other properties. what did you buy? 

He said, I'm almost there. nothing bought yet. SAW HIM 2 YEARS LATER, an estate agent. Its been incredible hasn't it. has gone up 50 percent a year. most increase in the world. i bought 15 other properties, going to convert to 30 apartments, going to build 500 houses on a plot of land. 

he said, I'm almost THERE. YOU GOTTA TAKE ACTION. Successful people take action, and work out the details later. 

WHO YOU SORROUND YOURSELF WITH: POSITIVE PEOPLE THAT ENCOURAGE YOU.

I attended the course, Tony Robbins in London many years ago. Life mastery course in Hawaii, last one he would ever do. Friend said all these excuses why he wasn't doing. I said all I care about is the content of this course. 10k pounds. was 40k in debt at the time. paid using credit cards. Unless I take some decisive action, my life is not going to change. I went to LIFE MASTERY and it was incredible. A big part of 50k to million in 3 years was because of what TONY taught us. 

He found world's best traders and did what TONY SAID, I modeled his behavior. My friend said that was incredible course. He called and they said TONY would never do that course again. 

I'm so glad I didn't listen to my friend. I didn't allow him to set me back.

Question: DID YOU WRITE THE BOOK?

yes, I did. its about investing but more so the mindset. 

Question: Book recommendation

Richest man in Babylon, Instant Millionaire, Cashflow Quadrant (I think its better than the first book),

the one minute millionare is also good. Think and Grow Rich is a classic. 

CHART PATTERNS:

Q: why lobster in front of the book?

most of them have a weird picture that makes you wonder what it is, so that you pick it up and open it. 

Two of my very good friend, who has written 10 books. He's written dummy books, co authored one of the chicken soup for the soul book.

Story: Friend said he was to busy to learn. 6 months later, years later same story. 

If you don't have enough money, that's why you must master investing. 

If you don't have enough time, that's why you must master investing.