I must say this. I listened to dozens of your interviews. And there is only 1 thing i learned. Here it is. Those that know dont talk. They keep all the real knowledge and give an hour or 2 of generic filler info. The way you opened this interview was different. I Was excited. but it ended just like the rest. I got nothing. No fault of yours Aaron. Thanks for your hard work.
@@-Hussainnn That is correct, if you buy the stock @$5 or @1 and then it goes to zero you will lose 100% of your amount at risk in both cases. What he is saying is that IF this stock has an intrinsic value of $10 and then its trading first at $5 and then $1, the best time to buy it would be @ $1 because that's where you have the highest EV (Expected Value). If you buy at $1 and it goes back to its intrinsic value of $10 you would have made a 900% gain on your investment!
Lance Breitstein has elevated himself to expert status as a trader and his intellectual approach is quite encouraging and unfortunately realistic given the failure rate among want to be students of the profession. The interviewer is brilliantly creative and so the synergies are quite compelling. I have seen this with others as well visa a vie the interviewer. I look forword to part two and three.
Capitulation Trading, nothing much to dissect here for a retail day trader. But it feels like listening to this interview I need to pay for something. Thank you. I will proceed with part 2.
Really enjoyed this Aaron especially the process he had to go through before becoming consistently profitable….and what he said was spot on that everyone you interview has made it but the other 99% of people haven’t and some of them really did everything right but ran out of money and so are the stories we will never hear about
It seems to me that his edge is THE most difficult to master: it's basically bottom/top picking. It can be very rewarding when you can make it work consistently enough. I've tried it and failed enough to become a trend follower instead. To all those newbies out there: look at trend following instead of bottom/top picking. It's easier to be successful that way, especially in short term day trades.
I trade on the side. The best decision I made was switching to build another business. I spent years doing this. Many highs and lows. But building another business created the financial life I wanted. I feel so bad for people that spend years at this and get nowhere.
Yes but there's winners/ losers in all professions. Many spend years building a business and get nowhere as well. Conversely there are successful traders who are very grateful they stuck to it.
@@ironhed515 haha even in this podcast the guy is making money selling to other traders. I worked on the institutional side watched professional money managers (primarily CTAs) fail monthly. Literally entire careers up in smoke in a month. Trading is unlike any other type of business. Unfortunately
@@shiverrmetimberss. Oh you saw people lose money, wow that's crazy had no idea people lost money lol what is your point? We all know the high failure rate. Sorry you couldn't hack it bro. Don't spread negativity to others just cause you couldn't do it.
@@ironhed515 just hate to see so many peoples financial lives ruined for a pipe dream. I personally was profitable and still compete in the World Cup trading championships. Absolutely love it. Just so happy that I didn’t stake my entire future on it.
If daytrading, Just set 2% trade loss limit, and 3% daily loss limit.😀 If trading the daily charts for swings, increase the loss limits to around double. Also have a rule to early exit in certain unfavourable price movements 😀 good trading!
- keep improving - you don't know how wrong you are biases - thinking in bets book annie doks behaviourial finance - capitulation trader: - capitulations: a real panic or flush out or euphoric to upside. upside or downside capitulation. huge flush out eg of aapl usually the weaker hands sell out - you can either go with the trend or mean aversion (when these occur) - emotional edge - sometimes when something is so so scary, it is safest to dipbuy it - intrinsic value of a stock could be found by eg trading at $300 for 5 days if it moves to $290, then you can buy - do deep reflection of the trades. pros and cons - you can restudy your old plays
Great Interview….The difference in Poker though is the Players at the $5 buy-in level are not the same skilled Players in the $50 Buy-in so your ‘edge’ is greatly diminished. But buying 10, 100 or 10’000 shares in the SAME stock your edge is intact.
This guys story about how he had it hard makes me realize that he never had it that bad, but that his internal narrative still is a factor which he attributes to something that drove him to success. I would say if anything he had all the odds stacked in his favor. College grad with supportive family, access to 100k jobs if it doesn't pan out. I'm not lifted to ring the bells of sympathy for his backstory. That being said, I came here for the trading tips, and he's got plenty of experience and knowledge in that which i benefited from hearing. I feel that traders need to stop with the sob story about how they had to sacrifice so much to become successful. It's not that it's insincere, but that it reflects a painfully myopic worldview. Anyone who has access to enough capital to trade is beyond gifted, myself included. We should try to acknowledge that when we're telling our story so we dont sound like boomers claiming they had it so hard when their minimum wage was enough to pay for a mortgage and a family of 3 with vacations.
just because someone has money doesn't mean they are not going through things or didn't have a hard life its always easy to say that when your on the outside looking in as it would be for you if you were to share something like that and people thought you had it easy but that was your reason for success it doesn't matter what the reason is every trader has found something that they had a problem with and taken that and used it to drive there passion don't miss the point because your being simple minded think bigger realize that,... that pain no matter how it may seem to you or how small or big gave him the power he needs to move forward and can teach someone a lesson to you it might not be a hard be it ignorance or be it something else everyone's life is different and will be painful in one way or another but it will not seem the same to everyone else think of this message if someone ever tells you its not that big of a deal when you get upset about something.... this isn't an angry message by the way
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself.. May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well.
To achieve greatness, you need to start working with a Financial Advisor. Investing remains the smartest way to prepare for the future.Have been working with ROCHELLE DUNGCA-SCHREIBER for 8years and I'm extremely pleased with the good returns. The good news is, it's never too late to start investing.
Credits to ROCHELLE DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on your google and verify her yourself. she has years of financial market experience...
Wow this was awesome. So informative. And just listening to this is making so many things click inside my mind after trading unsuccessfully for the past year. It’s also so crazy to see how little views this has. This means I must be one of the few putting in the extra work to master this stuff ☝️ One day, remember my name, I will be a very famous man and a very successful trader. And a portion of my success will always be dedicated to the podcasts on this channel🤝thank you.
@@BlackJesus8463 Exactly why you make your rounds. Fear and curiosity are different sides to the same coin. Youre lacking knowledge. GET THOSE REPS IN!!! LETS GET IT💪💪💪
Speaking about investment, You're right that's why I had to start up investing in forex fews month ago and now I'm really benefiting from it, honestly speaking I earned huge profits more than what I was paid for as my wages in a month interval
@@souza-t One of the best content I've seen! Crypto is the best though I don't self trade but I still make profit with the help of my broker till I'm sure I can start self trading.
45:31 he was to say "any of our playbooks"I think you might check this concept, it is life changing, have your strategy playbooked, know in advance everything you might face and have writed down precisely how you will react only by doing this ou can back and forward test and collect results "The Playbook" Mike Bellafiore
So according to my understanding, he's trying to time the bottom/top of a volatile price movement. How does he do that? He didn't explain what he looks for on the charts/technicals before making a trading decision. Does he just wing it and manage his risk?
Figure out who is on the wrong side of the trade, then place your bet. It’s all experience my friend. Anyone can do it if they make every mistake in the book and implement a plan to avoid being on the wrong side again. Just risk small, until you figure it out. This is a survival game. Don’t lose it all before you discover fire.
Maybe he scans for stocks that are extremely extended over vwap. Maybe he adds the “boring” and other aspects into his intuition for more confidence. I don’t know, just an assumption.
That's what I'm trying to figure out. He doesn't give an explanation as to what he looks for on the charts/technicals before making a trading decision. Does he just wing and pick a random time to buy a stock that's making an extreme move up or down while managing risk? According to my understanding what he's doing is he's trying to time the bottom/top of a volatile move... how the heck do you do that?
Been watching the markets daily since about 2010 or 2011. Pretty much watch every day and watch videos and charts all weekend. I live the market from sun up to sun down. I'm considering giving it up. I would prop be a multi millioniare if I had just put my money in the S&P 500 and left it there and never touched it. $15,000 invested in 1995 until now would of given me more money than I have right now in my IRA after all these years of maxing out my IRA. lol smh
It's so Lance can definitely answer the question the firms can short IPOs even though retail can't for the first month. I hate even hearing this fud that's what Skrehli Martin Scully went to jail for $HTCr 🎯 13 yeah rationale to pump the Federal reserve again without Congressional approval let's go equity rally
Like this interview and respect to Lance. But here’s the thing re “capitulation trade”…it is just a fancy way of describing fading a chaotic move. We all know that can END careers/blow accounts. What were you doing when oil traded -40? I’m not saying there isn’t/Lance doesn’t have an edge in it, but to say it is “the safest thing” when markets can actually trade wherever they want and you don’t have unlimited money, is pretty silly.
I disagree with the poker anology, as you go up in buy ins the competition is harder and margins are slimmer. Where as with trading or sports, you don't have that issue.
This interviewer voice is so annoying . You should probably move the Mike away from your mouth . Annoying to hear your throat while listening on my headphone
![[Formula] Become a 7-Figure Day Trader · Mike Bellafiore](/img/n.gif)
The Ultimate Day Trader, Pt. 2: th-cam.com/video/d3mmLd_VO0w/w-d-xo.html
I must say this. I listened to dozens of your interviews. And there is only 1 thing i learned. Here it is. Those that know dont talk. They keep all the real knowledge and give an hour or 2 of generic filler info. The way you opened this interview was different. I Was excited. but it ended just like the rest. I got nothing. No fault of yours Aaron. Thanks for your hard work.
This series is priceless. The amount of value here is astronomical. I feel like I owe a fee or a commission of some kind when I listen to this.
I don't see much value
@@-Hussainnn because you already know it all
Lance, one of the best interviews regarding trading for a career.
I really dont understand how there can be negative comments here... PURE GOLD! Cant wait for the second part!
Bring on more Lance! I’ve already listened to it two times. In these difficult markets, we need the edge! Thanks Aaron!
54:10 "Sometimes it is safest to be risky".....AWESOME!!! the $10 intrinsic value example really elucidated the point!
@@codfellaz he is saying you are risking 1$ when price is 1$ isn't that just 100% loss?!
@@-Hussainnn That is correct, if you buy the stock @$5 or @1 and then it goes to zero you will lose 100% of your amount at risk in both cases. What he is saying is that IF this stock has an intrinsic value of $10 and then its trading first at $5 and then $1, the best time to buy it would be @ $1 because that's where you have the highest EV (Expected Value). If you buy at $1 and it goes back to its intrinsic value of $10 you would have made a 900% gain on your investment!
Sometimes it is safest to be risky...brilliant man.
Lance Breitstein has elevated himself to expert status as a trader and his intellectual approach is quite encouraging and unfortunately realistic given the failure rate among want to be students of the profession. The interviewer is brilliantly creative and so the synergies are quite compelling. I have seen this with others as well visa a vie the interviewer. I look forword to part two and three.
Your interviews have been my daily ritual. The information that is been shared amazing, also hats off to Aaron for always asking quality questions! 🔥
Saying thanks again 👋long-time listener here and this video is a must for every trader new and old ,considering current market conditions.
Capitulation Trading, nothing much to dissect here for a retail day trader. But it feels like listening to this interview I need to pay for something. Thank you. I will proceed with part 2.
Absolute phenomenal comments! Thanks so much for sharing it with us Lance.
You got so good at asking the most relevant questions! Awesome
Really enjoyed this Aaron especially the process he had to go through before becoming consistently profitable….and what he said was spot on that everyone you interview has made it but the other 99% of people haven’t and some of them really did everything right but ran out of money and so are the stories we will never hear about
Amazing episode. He make it sound simple and clear to unterstand. Cant wait for episode 2
This guy gives me hope.
Thanks so much for your channel!!!
Wow this is phenomenal! Last 5 minutes or so has gotta be in the next best of cwt compilation
That was really great episode. I'm looking forward to part 2.
Thanks Aaron.
1 video is all it took for me to subscribe, i love these podcasts, thank you 🤝🏽
It seems to me that his edge is THE most difficult to master: it's basically bottom/top picking. It can be very rewarding when you can make it work consistently enough. I've tried it and failed enough to become a trend follower instead. To all those newbies out there: look at trend following instead of bottom/top picking. It's easier to be successful that way, especially in short term day trades.
He specifically referred to capitulation. Depending on time frame, capitulation happens all the time, including intraday. ✌🏽
I like his style
@@joeromano507 Agreed . I scalp options based on the point when people are stuck in the trade.
You are right...but ironically Even when trend following, you still go against the trend on a lower timeframe though.
I just got the ultimate day trader book today and this is amazing
Great Great conversation 🙏🙏
I trade on the side. The best decision I made was switching to build another business. I spent years doing this. Many highs and lows. But building another business created the financial life I wanted. I feel so bad for people that spend years at this and get nowhere.
Yes but there's winners/ losers in all professions. Many spend years building a business and get nowhere as well. Conversely there are successful traders who are very grateful they stuck to it.
@@ironhed515 haha even in this podcast the guy is making money selling to other traders. I worked on the institutional side watched professional money managers (primarily CTAs) fail monthly. Literally entire careers up in smoke in a month. Trading is unlike any other type of business. Unfortunately
@@shiverrmetimberss. Oh you saw people lose money, wow that's crazy had no idea people lost money lol what is your point? We all know the high failure rate. Sorry you couldn't hack it bro. Don't spread negativity to others just cause you couldn't do it.
@@ironhed515 just hate to see so many peoples financial lives ruined for a pipe dream. I personally was profitable and still compete in the World Cup trading championships. Absolutely love it. Just so happy that I didn’t stake my entire future on it.
@@shiverrmetimberss sure you were bud. Lol
Awesome..Thank you and all the success to you and yours.
Much better to go same direction as the capitulation
Simply Golden.....!
Good
General / Technical
1. Learning Process / Heuristics
Just in the last two months my trading account is down 70% 😔… thanks for the interview! I need to reevaluate my trading methods.
If daytrading, Just set 2% trade loss limit, and 3% daily loss limit.😀 If trading the daily charts for swings, increase the loss limits to around double. Also have a rule to early exit in certain unfavourable price movements 😀 good trading!
Just do the literal opposite of what you have been doing and you'll kill it.
Is risk management an edge?
@@BlackJesus8463 YES
You're the rare ones out there who aren't shy telling the world they are down. Most of them are like up by 1000% 😂😂
Another great one, Aaron! Thank you
23:35==> super honest and a question many ask, many think they are different, but.....KEEP GOING!
Excellent interview, looking forward to pt 2!
Minute 20 adds up everything ❤️❤️❤️
Awesome interview ..
Amazing interview, the best this year so far
- keep improving
- you don't know how wrong you are biases
- thinking in bets book annie doks behaviourial finance
- capitulation trader:
- capitulations: a real panic or flush out or euphoric to upside. upside or downside capitulation. huge flush out eg of aapl usually the weaker hands sell out
- you can either go with the trend or mean aversion (when these occur)
- emotional edge
- sometimes when something is so so scary, it is safest to dipbuy it
- intrinsic value of a stock could be found by eg trading at $300 for 5 days if it moves to $290, then you can buy
- do deep reflection of the trades. pros and cons
- you can restudy your old plays
really enjoyed this, huge thanks to both of you for this interview
great episode as always, but as trying to beat the market woudl really love to hear some secrets on how he actually trade ;)
"litto boy became a man!" best quote ever.
Great Interview
Wow what a great interview this is the way
Enjoyed the content lots, thanks.
I enjoyed this so much!
One of my favorite episodes!
Good stuff. I would like to know more about his favorite strategies
Excellent mate!
Great episode!
Great Interview….The difference in Poker though is the Players at the $5 buy-in level are not the same skilled Players in the $50 Buy-in so your ‘edge’ is greatly diminished.
But buying 10, 100 or 10’000 shares in the SAME stock your edge is intact.
47:02 my man Aaron nailing it.. you can’t escape ..ha ha :)
Thanks for another great interview, Aaron! Looking forward to the follow ups.
Good stuff. Looking forward to part II.
note book or journal is very important.
Damn he left us like that lol (presses replay button)
Awesome Eps!
This was very good Aaron! Can't wait for part 2.
This guys story about how he had it hard makes me realize that he never had it that bad, but that his internal narrative still is a factor which he attributes to something that drove him to success. I would say if anything he had all the odds stacked in his favor. College grad with supportive family, access to 100k jobs if it doesn't pan out. I'm not lifted to ring the bells of sympathy for his backstory. That being said, I came here for the trading tips, and he's got plenty of experience and knowledge in that which i benefited from hearing. I feel that traders need to stop with the sob story about how they had to sacrifice so much to become successful. It's not that it's insincere, but that it reflects a painfully myopic worldview. Anyone who has access to enough capital to trade is beyond gifted, myself included. We should try to acknowledge that when we're telling our story so we dont sound like boomers claiming they had it so hard when their minimum wage was enough to pay for a mortgage and a family of 3 with vacations.
just because someone has money doesn't mean they are not going through things or didn't have a hard life its always easy to say that when your on the outside looking in as it would be for you if you were to share something like that and people thought you had it easy but that was your reason for success it doesn't matter what the reason is every trader has found something that they had a problem with and taken that and used it to drive there passion don't miss the point because your being simple minded think bigger realize that,... that pain no matter how it may seem to you or how small or big gave him the power he needs to move forward and can teach someone a lesson
to you it might not be a hard be it ignorance or be it something else everyone's life is different and will be painful in one way or another but it will not seem the same to everyone else think of this message if someone ever tells you its not that big of a deal when you get upset about something.... this isn't an angry message by the way
@@nothings7258 I acknowledged that his story was not insincere, and that his struggle drove him forward in the post above.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself.. May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well.
To achieve greatness, you need to start working with a Financial Advisor. Investing remains the smartest way to prepare for the future.Have been working with ROCHELLE DUNGCA-SCHREIBER for 8years and I'm extremely pleased with the good returns. The good news is, it's never too late to start investing.
Thanks for this piece of advice. if you don't mind how can I get in touch with her? really need help with my finances..
Credits to ROCHELLE DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on your google and verify her yourself. she has years of financial market experience...
Thanks for the efforts you put in these. I found her and i leave her a message i awit a respons.
Wow this was awesome. So informative. And just listening to this is making so many things click inside my mind after trading unsuccessfully for the past year.
It’s also so crazy to see how little views this has. This means I must be one of the few putting in the extra work to master this stuff ☝️
One day, remember my name, I will be a very famous man and a very successful trader. And a portion of my success will always be dedicated to the podcasts on this channel🤝thank you.
how's the progress going now?
How the progress famous man? Hope you’re still trying to trade
Get those reps in Boys!!!
I'm scared.
@@BlackJesus8463 Exactly why you make your rounds. Fear and curiosity are different sides to the same coin. Youre lacking knowledge. GET THOSE REPS IN!!! LETS GET IT💪💪💪
@@Okayand33 LFG!!! 👏🙌
the players in poker get a lot better when you go up in stakes that's for sure
It's pertinent to know that investment is essential to make more money, right guys?
Speaking about investment, You're right that's why I had to start up investing in forex fews month ago and now I'm really benefiting from it, honestly speaking I earned huge profits more than what I was paid for as my wages in a month interval
@@pierogallo132 Most profit comes from capital gains from owning a business. It's good to have a multiple streams of income (investments)
@Olga Carvalho
Investing in stocks is a good idea, a good trading system would put you through many days of success.
@@souza-t One of the best content I've seen! Crypto is the best though I don't self trade but I still make profit with the help of my broker till I'm sure I can start self trading.
@Jocelyn Maria
🔥 🔥 🔥
45:31 he was to say "any of our playbooks"I think
you might check this concept, it is life changing, have your strategy playbooked, know
in advance everything you might face and have writed down precisely how you will react
only by doing this ou can back and forward test and collect results
"The Playbook" Mike Bellafiore
49:30 The importance of Risk Management when "being the whale" in a capitulation trade...
Good ep. Thanks for the content!
So according to my understanding, he's trying to time the bottom/top of a volatile price movement. How does he do that? He didn't explain what he looks for on the charts/technicals before making a trading decision. Does he just wing it and manage his risk?
Figure out who is on the wrong side of the trade, then place your bet. It’s all experience my friend. Anyone can do it if they make every mistake in the book and implement a plan to avoid being on the wrong side again. Just risk small, until you figure it out. This is a survival game. Don’t lose it all before you discover fire.
MACD
rise up lights mate
Maybe he scans for stocks that are extremely extended over vwap. Maybe he adds the “boring” and other aspects into his intuition for more confidence.
I don’t know, just an assumption.
That's what I'm trying to figure out. He doesn't give an explanation as to what he looks for on the charts/technicals before making a trading decision. Does he just wing and pick a random time to buy a stock that's making an extreme move up or down while managing risk?
According to my understanding what he's doing is he's trying to time the bottom/top of a volatile move... how the heck do you do that?
Been watching the markets daily since about 2010 or 2011. Pretty much watch every day and watch videos and charts all weekend. I live the market from sun up to sun down. I'm considering giving it up. I would prop be a multi millioniare if I had just put my money in the S&P 500 and left it there and never touched it. $15,000 invested in 1995 until now would of given me more money than I have right now in my IRA after all these years of maxing out my IRA. lol smh
58:00 value is not intrinsic it's subjective abstract of human mind, it's a psychic phenomenon. Nothing has any intrinsic value.
I'm here because of emperor bitcoin!
Step infont of a runnig train cuz no one will! Haha jk great info. Thank you.
.
@33:00
It's so Lance can definitely answer the question the firms can short IPOs even though retail can't for the first month.
I hate even hearing this fud that's what Skrehli Martin Scully went to jail for
$HTCr 🎯 13 yeah rationale to pump the Federal reserve again without Congressional approval let's go equity rally
看过1
capitulation ，保留很多，
✍🏿👀
@➕➊➋⓿➎➏➌➋⓿➎➍➏ Whatsapp scammer...
Like this interview and respect to Lance. But here’s the thing re “capitulation trade”…it is just a fancy way of describing fading a chaotic move. We all know that can END careers/blow accounts. What were you doing when oil traded -40?
I’m not saying there isn’t/Lance doesn’t have an edge in it, but to say it is “the safest thing” when markets can actually trade wherever they want and you don’t have unlimited money, is pretty silly.
I disagree with the poker anology, as you go up in buy ins the competition is harder and margins are slimmer.
Where as with trading or sports, you don't have that issue.
200k views?
Why can’t he go into detail?
This interviewer voice is so annoying . You should probably move the Mike away from your mouth . Annoying to hear your throat while listening on my headphone
You would think sitting next to a mentor would make you profitable in a few weeks.
Bro back off thr Mike please
Wasted my time. The way this guy trades is highly risky and not recommended at all. Everyone thinks institutional traders are smart. Doesn't seem so.
He doesn't give enough information to judge the risk but he makes consistent money so it can't be riskier than what you do.
He's an 8 figure trader stfu
I don't understand why everyone pretends trading is such a difficult and impossible thing.
Why would you become a trader only to work for someone else? That makes no sense.