1291 - From COVID Wake-Up Call to Consistent Trader

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1:00Hey guys, it's Kyl Stokes here and welcome back to the Trading Coach podcast. Today, I'm excited to share a few a recording from one of our accountability sessions where we meet one-on-one with our trader. Now, these sessions are all about getting to know the person behind the charts, what brought them in the trading, what their goals are, and then continuing to check in with them over time to make sure they're on track and working through any obstacles that may pop up along the way. In today's session, you're going to hear from a trader who first got started in the crypto market about five years ago during the COVID, and like a lot of us during that time, he got a pretty harsh wake-up call realizing that no job was truly safe and that having a plan to take control of your wealth is more important than ever, whether that's just a safety net or maybe even eventually a main source of income. Now, after bouncing around the industry for a while, what ultimately attracted him to tier one trading was our focus on rules-based

2:01trading, building a trading plan that actually fits around your lifestyle, and most importantly, the fact that we sell a process and not a dream, right? Effort, time, discipline, the real stuff that it actually takes to succeed. Now, in this conversation, we're going to talk about how to fit trading around a busy lifestyle, how to stay motivated without burning out, and what the most efficient path forward looks like for traders who want consistency instead of the hype. So, if you ever felt stretched for time, overwhelmed, or unsure of how to move forward in your trading, well, I'd make sure to lock into this interview. All right, let's hop in. Yeah, so I joined your project two months ago, and while I can't really say I have any updates, I'm just doing back testing, learning, learning everything I can. I actually started already five years ago, back in 2020-2021, when colleagues introduced me to crypto. So, not exactly the same thing,

3:07but that was after COVID, and COVID was a big wake-up call for me, I guess, like many other people, that having a safe job is not exactly safe. Anything can happen, and that you pretty much lose everything. And yeah, that's where my journey started, and I've been hopping around looking for courses and stuff, and then I found you guys a couple of months ago, and yeah, that's where I started. Awesome. Okay, and how have you found it in terms of suited to you? How do you feel about it as a person going into trading? Is it good feelings, bad feelings, not for you, good for you? Tell us. I like that it's kind of rules-based. I think you guys mentioned in many times that everything is rules-based, and you follow those rules, and you kind of add your own rules to it, then you make it work, and I like that it's, you know, it's, everyone has their own routines,

4:15if I can say it like that, and on rules that suits them, and that you can actually make it work. I know it's not, you're not going to buy a Lamborghini in a few days. That's why I chose you guys, because you were very straightforward, and you know, I don't trust any of these guys on Instagram. Yeah, so I am just quite busy at the moment. I work in hospitality, and as long as hours, of course, going home, spend time with the family, and doing some back-desting. This episode is brought to you by Indeed. Stop waiting around for the perfect candidate. Instead, use Indeed sponsor jobs to find the right people with the right skills fast. It's a simple way to make sure your listing is the first candidate to see. According to Indeed data, sponsor jobs have four times more applicants than non-sponsored jobs, so go build your dream team today with Indeed. Get a $75 sponsor job credit at Indeed.com slash podcast, Terms and Conditions Apply.

5:19This episode is brought to you by Nespresso. Introducing Virtua Up, the latest and a long line of innovation from Nespresso. It's innovation you can touch, sense, and taste in every single cup. With a three-second start, easy open lever, and dedicated brew over ice button, it's even easier to enjoy your coffee your way. Zip for yourself. Shop Virtua Up exclusively at Nespresso.com. Right, okay. At the moment, I'm working on bets and butterflies. Bats and butterflies, okay? Any reason you pick those two? Well, those were the first in the sequence. Sorry, Cypher and Bat. Next, I will go to Butterfly. Oh, okay, great. Yeah, I actually, I wasn't back-testing for a long time. I didn't know what back-testing was, so I was just scrolling back on the graphs and finding the patterns there. So, only started about two weeks ago.

6:20Right. Back-testing, yeah. Okay, perfect. So, anything you're struggling with in particularly? Not really. I want to say that as they play out, I do find them. I do see them playing out, you know, so I can pull the February shows, I can see everything happening as it happens, but I find more bets than Cypher's in my back-testing. I've only been on three bears now, so I have a lot of bets. That's normal, you know, that would be not more for sure. For two reasons, one, bat patterns are one of the most popular in terms of prolific, like there's most opportunities, but two, Cypher patterns are harder to see. They're harder to spot, so they just take a bit more refining of the of the eye. But the more you test, the more you'll see. All right.

7:23Great. Okay. So, in terms of your routine, like, what does that look like? How are you fitting this into your life and making sure that you're consistent with it? Well, in the mornings, I get about an hour, so I tried to follow what you guys do in the live room, looking at the economic kind of calendar, what happened the day before. I also look at the live charts and see if something plays out there. So, I do make not a live trade, but draw it out on the chart and see what happened from it. And I do some back-testing in the morning, and in the evenings, I get about an hour or two hours for back-testing again. Great. I don't know if I should study further or focus on back-testing at the moment and kind of perfect these two. What would you recommend? Out of back-testing further or what, sorry? Yeah, back-testing these two patterns or study more patterns.

8:30Now, I would back-test one pattern and do that across all the markets, and then I would then go on to the next pattern and do that throughout all the markets. I would do one at a time. Okay. Yeah. And then after that, the next one and the next one, but I would just do one pattern all of the markets that you're looking to test it on and then move on. And then would you say after you've perfected that one pattern, you can go live on that or... Yeah, absolutely. Yeah, yeah, go live. Yeah, for sure. Yeah, I think that's the best thing you can do. Yeah, then I'll put a plan in place to... That's a lot of testing, but in the next two months, yeah, I think the reason I like going live on one strategy is because it's the payoff, you know? You start making progress, you start getting the rewards, you start actually trading. And if you don't do that, it's really hard because you have to test one and then you think, oh, I've got to do that again and then all that again. And it

9:31kind of, it's demotivating when you're not actually getting a reward. And I think the reward is to test one, trade one, test the next one, add that in, you know, and so on. So I think that's better for most people. Awesome. Okay, cool. So when do you think you'll be able to go live on the first round of testing? You say it's a lot of testing, but realistically, when do you think you can get that done based on the hour that you're putting in every day? I mean, if I get, let's say 10 patterns a day, if I pick up 10 a day, then it's going to take some time. Yeah, I would say December, January, three months. Yeah, yeah. Yeah, give it, give it, give it two, three months, I think. Cool. Yeah, maybe we catch up in early, right on the new year then and just see where you're at. Sounds good. Yeah. Awesome, man. Well, I appreciate you coming on

10:37and meeting you and introducing yourself and laying your cards on the table. That's what this is all about. And now you've got some motivation to get going because we'll see where you're at in January. Thanks a lot. Appreciate that. Okay, man. All right, gang, that's going to wrap things up for today's episode. I hope you enjoyed the Convo and I hope you're able to pull at least one bit of insight or one idea that you can apply to your own trading journey. If this episode resonated with you, make sure you subscribe to the podcast, make sure you follow that way you don't miss future episodes. Thanks for listening. As always, plan your trade your plan and I'll see you on the next episode of Trading Good Podcast.