thats exactly what makes trading so damn hard, it dont matter what indicators you have, what strategy you pick, all that stuff is 10% of the battle. Mastering your own damn mind is what trading is!
- As long as there's momentum you know immediately if you're wrong, if there's no momentum you're not sure and if you're going long options you better get out quick because of time decay - If you're wrong on the writing side, hedge (buy) and work in and out of that short option - Trade the same thing over and over again - There's a fine line between instinct and being stubborn, hitting buttons because of your instinct is great, but then emotions start coming into it and that's when you get attached, you start making mistakes on your decision making and you start justifying shit that you shouldn't justify, basically allowing stubbornness, expectations, behavioral mistakes and all kinds of bullshit that have nothing to do with the market to control your decision making - Hedge to stay alive until the right market comes to you, then all guns blazing - Understand who you are to know when to push it, find what strategy works for you and when does it work, when it stops working follow your instinct and don't be stubborn - Hedging also refers too your life, who you are as a person, emotions, mindset and personal life so it doesn't affect your account, how are you going to protect yourself from yourself when you're going through some shit - There's a fine line between conviction and too much conviction, too much conviction to the point where you get attached to the position and you can't bail, you constantly have to be there to make sure it's unfolding in your direction and the second it doesn't be quick to get out and cut that risk off especially with OTM options because most of them expire worthless - Markets aren't efficient, any auction-type market is dictated and guided by behavior and emotions (who is screwed because they're holding too much and on the wrong side of the trade) - Algos have to constantly adapt to markets just like retail traders - How many times have you surfed the internet to avoid looking at a trade that is starting to go against you, that is probably a good sign to take your profits - All it takes is one trade to blow up your account - Trading is a constant learning process
You should do a Chat With Traders with Wall St. Jesus too.... if you can get him. Super entertaining and super knowledgeable; would be an amazing episode.
@Chat With Traders - Great channel, lots of good information. But, I just realized that you don't have EP 007 in your list of videos.... or did I miss it while looking through the list? Thanks. (EDIT:Oh, I couldn't find EP 145 either. Just FYI)
Tks Aaron . Sang Lucci such a real guy . God bless you . Trading profit depend on your personal lifestyle , if it have discipline , healthy , no greed , follow the flow and find your edge ( God doesn ' t give his bless to over ) .
Thanks Aaron great platform for us to learn from experienced traders very much informative and interesting ....I actually singlehanded praise all episodes but episode 077 is above all very much appreciated.
Very good podcast. Very real. Love how he explains how he isnt perfect. And how he works everyday to keep his head above. And when its his market. Hes an animal. So i liked it alot. Confidence.
Already listed to this one twice! A really funny one and some really good stuff here! Best topics like prop shop profit tactics, the recent crypto market flop, hedging tactics to keep profits and not recycle them back into the market... and keeping and even the fx mlm scams towards the end! This time around it was really cool to here a more real realistic Lucci vibe. Also the type of episode friends who don't trade can listen to and have fun with! Good upload!
this episode reminded me of the one with Brannigan when he was talking about systemizing trading processes and decisions along with discretionary trading
@@qkrrlwjd yeah you're right, dont forget to include state tax (lets say 8% is a median if you're making over 100k a year) and then tax on anything you buy.. i'd say 30-40% is a rough-draft of a good estimate. say you get taxes 24% then 8% state thats 32% but then you lose a lot on your personal property tax/anything you buy has taes prob 35-40%
this guy is actually wrong about crypto around that time in December 2018 most crypto was reaching an all-time high. i don't know when this podcast was taken but 2017-2018 was good for crypto and its making its way back towards those highs
About 15 years ago there was software called marketsound for CME index futures that you could use to get a feel for the speed and urgency of orders hitting these electronic markets (similar to a pit squawk box). A VR pit would have an added visual pit that anyone that wanted could access, depending on who owned the software. Either the exchange or a third party and it would virtualise the tape.
@@Revolution3030 This is only for those willing to purchase the technology assuming it provides an edge. Everyone else will use the standard tools, Dom, t&s, etc.
Ooph. It's March 10 and I wonder if he's sold that TSLA long position. Ouch. I had an iron condor on it last week and sold it because it was slightly too bullish.
Relying on "instincts" will kill you. "Looking inward" and wait for the right market. LOL😂 'cause the so-called "right market" is in past tense. You only know it afterwards. "Hedging your Life???" You're kidding me.
Aaron , too slow to execute tells me youve taken some trading pain and are now gunshy , been there done that , get systematic dude and thats entry and EXIT . Adjust position size to equity/ strategy profit . Know your expectancy and trade to it .
For tax, come to the UK. Profits on personal trading are not taxable. The Revenue may try to tax your profits, but if you challenge them they will fold - must get a trading-savvy accountant. Obviously, if you are trading other people's money it's a business and you pay capital gains. For US citizens going overseas, make sure you're up to speed with your iniquitous FATCA law, where you are taxed on citizenship and not on your country of residence.
at what point people will understand !!!!!!!!!!!! anybody who sell you any educational crap, have no clue how to trade successfully. knowing how to place a trade and actually to make money are two different things. real traders don't sell shit, there is no time or need.
These guys know how to trade and are transparent about it. They have set set up trading as an educational business and pay themselves a salary in order to not pay all the capital gains tax you pay as an individual. I am chatting with my accountant right now about this for 2019. Notice most of them will make no guarantee you will learn anything, and many come and go. This is why I never waste any money on these folks and the people trying to trade various systems, chatrooms, newsletters, etc. At least this guy is honest about it. He even says you have to learn yourself and how to trade your personality. Some people need coaches and are willing to pay for it. Again, he is transparent about it unlike many con artists in the arena. My first question to any guru is let me see your bank statement. If they are not willing to produce, they are full of shit.
A guy who has chat with Chat with traders and he is trader should pay attention to what words come out of his mouth, he keeps saying profanity words which put his personality very down. very pity of him...
@@XTen1000DaysX how was it cynical? any perceived cynicism is a result of your own ego's defense mechanism because you have fallen for a scammer and his fraudulent hustle.
@@oldmansoda because he gave a reason for moving to puerto rico and you're sketpical about it in a cynical way, assuming what he said is not the truth and that he said something else makes you question why he chose to move there in the first place.
@@XTen1000DaysX fair enough. Yes, I am cynically skeptical about his real reason for moving. Sometimes my gut feeling is right, sometimes it's wrong. In situations with people in finance, history shows us that usually all involved are liars and scammers. Thus, I call bullshit on his story. My opinion, unfortunately, has no bearing either way.
thats exactly what makes trading so damn hard, it dont matter what indicators you have, what strategy you pick, all that stuff is 10% of the battle. Mastering your own damn mind is what trading is!
get smarter and find your edge . never give up fella .
I can listen to Lucci all day.
You must have made lot of dough in these past six months u were listening ....tee hee
Right! Love listening to him and his strategies...powerful dude✨
you should not listen too much. you should act
Lucci is not with the bs, love it. straight to the point no blabbering
This guy's mindset is priceless!!!
Thank you very much SangLucci
You gotta love Luccis honesty. I don’t hear any other big time traders talk like him. He lays it all out. True teacher.
The realest trader out there, keeps it real, legit, and tons of charisma. He does have some scammer friends but in the trading world who isn't.
theres already a popular program to gauge 1000s of trader's emotions when trading, its called plotting the prices on a graph
- As long as there's momentum you know immediately if you're wrong, if there's no momentum you're not sure and if you're going long options you better get out quick because of time decay
- If you're wrong on the writing side, hedge (buy) and work in and out of that short option
- Trade the same thing over and over again
- There's a fine line between instinct and being stubborn, hitting buttons because of your instinct is great, but then emotions start coming into it and that's when you get attached, you start making mistakes on your decision making and you start justifying shit that you shouldn't justify, basically allowing stubbornness, expectations, behavioral mistakes and all kinds of bullshit that have nothing to do with the market to control your decision making
- Hedge to stay alive until the right market comes to you, then all guns blazing
- Understand who you are to know when to push it, find what strategy works for you and when does it work, when it stops working follow your instinct and don't be stubborn
- Hedging also refers too your life, who you are as a person, emotions, mindset and personal life so it doesn't affect your account, how are you going to protect yourself from yourself when you're going through some shit
- There's a fine line between conviction and too much conviction, too much conviction to the point where you get attached to the position and you can't bail, you constantly have to be there to make sure it's unfolding in your direction and the second it doesn't be quick to get out and cut that risk off especially with OTM options because most of them expire worthless
- Markets aren't efficient, any auction-type market is dictated and guided by behavior and emotions (who is screwed because they're holding too much and on the wrong side of the trade)
- Algos have to constantly adapt to markets just like retail traders
- How many times have you surfed the internet to avoid looking at a trade that is starting to go against you, that is probably a good sign to take your profits
- All it takes is one trade to blow up your account
- Trading is a constant learning process
5 years ago talking about nvda this guy is the man
he was talking about shorting it though lol
62k views but 1.5 likes. Wake up you guys. This podcast is gold
When he spoke about mainly selling options now, and only buying options when environment is absolutely ideal, that really spoke to me...
PLZ!! have him back on... loves this guy. so real.
His instinct was right on Tesla!!! Listening to this 2 years later...
Lucci’s the man!! Your the best Fifield, thanks.
Thanks Aaron! Good interview with a good guest as it addresses real stuff real traders have to deal with.
Great guy, as a trader you can relate to a lot of aspects he touched on. What a chad!
You should do a
Chat With Traders with Wall St. Jesus too.... if you can get him. Super entertaining and super knowledgeable; would be an amazing episode.
I love this guy!! Great epesoo
"Wherever there's a hustle, it's easier to sell the hustle than make the money."
Very advanced talk for me about all this taxes where in real life I am struggling to make one percent in day trading
Great explanation of hedging!
Bring back lucci and dante!!!
Thanks Aaron . Great guest and interview!
@Chat With Traders - Great channel, lots of good information. But, I just realized that you don't have EP 007 in your list of videos.... or did I miss it while looking through the list? Thanks. (EDIT:Oh, I couldn't find EP 145 either. Just FYI)
Tks Aaron . Sang Lucci such a real guy . God bless you . Trading profit depend on your personal lifestyle , if it have discipline , healthy , no greed , follow the flow and find your edge ( God doesn ' t give his bless to over ) .
What?
yup i digged through that archive loved it still here not going nowhere
Thanks Aaron great platform for us to learn from experienced traders very much informative and interesting ....I actually singlehanded praise all episodes but episode 077 is above all very much appreciated.
The Shit just got Real...!!! Knowledge, Experience and Reality of humans trading.
Loved this episode.. the truth...
Very good podcast. Very real. Love how he explains how he isnt perfect. And how he works everyday to keep his head above. And when its his market. Hes an animal. So i liked it alot. Confidence.
I enyoy listening to Sang Lucci. Big thanks
Already listed to this one twice! A really funny one and some really good stuff here! Best topics like prop shop profit tactics, the recent crypto market flop, hedging tactics to keep profits and not recycle them back into the market... and keeping and even the fx mlm scams towards the end! This time around it was really cool to here a more real realistic Lucci vibe. Also the type of episode friends who don't trade can listen to and have fun with! Good upload!
this episode reminded me of the one with Brannigan when he was talking about systemizing trading processes and decisions along with discretionary trading
South African trader here. Bring your tech and expertise, we are more than ready
Lucci the Legend
I love this Dude
Best episode so far
i luv lucci
"Models just don't work anymore"
off da top
You cashed out of crypto on December 2, 2018? You picked the bottom to sell.
Did SangLucci just say 0 capital gains!!! I'm moving!!!
Bull shit artist man...watch out
Zero taxes on all capital gains. (Resident Of Puerto Rico)
Another amazing episode! Thanks so much for these nuggets of KB hahaha!!!
😄 great episode
I luvv your style of questioning..I will definitely tell everyone about you
Forgot to mention the massive discount on that pure
man's a visionary
Love this interview very good.
Interesting that he feels excessively comfortable with size and apple. Great information!
him and tom dante are pretty awesome
lucci is a beast! great chat! No filter!
@14min when he mentions sales tax.. 11% is not double compared to San Francisco..
it’s 8.75 and some surrounding cities are at 10%
Great podcast
Please call sang lucci every 4 years for podcasts
Listening to this today and I can imagine the crypto community is having the same conversation from 3yrs ago.
this guy rocks :D
@21:50 WOW!!! made my day :D
Does anybody know if you can deduct your losses (if you lost less than 3k and you were under PDT rule this year)? Thanks in advance
Great podcast, Sang sounds kind of like Joe Rogan hahaha. Cool dude for sure though!
Hey can we get yet another interview with Sang Lucci. Love updates on what he is doing. It is very motivating to listen to him.
Great interview, nice to hear a candid and honest account of real trading issues and how they are managed.
How much do you have to make to be paying 40% on your gains?
100k+ in the USA.
@@XTen1000DaysX hey r u 100% sure? U mind linking me where u found this? I'm seeing 500k or more for 37%
@@qkrrlwjd yeah you're right, dont forget to include state tax (lets say 8% is a median if you're making over 100k a year) and then tax on anything you buy.. i'd say 30-40% is a rough-draft of a good estimate. say you get taxes 24% then 8% state thats 32% but then you lose a lot on your personal property tax/anything you buy has taes prob 35-40%
Its def not 40% for 100k
buylow with state tax it’s 30-40% depending on income. If you include taxes on house etc and property easily 40
this guy is actually wrong about crypto around that time in December 2018 most crypto was reaching an all-time high. i don't know when this podcast was taken but 2017-2018 was good for crypto and its making its way back towards those highs
How about a virtual pit? That may enhance a trader's feel of the market
huh? how? everyone can see the tape and oderflow
About 15 years ago there was software called marketsound for CME index futures that you could use to get a feel for the speed and urgency of orders hitting these electronic markets (similar to a pit squawk box). A VR pit would have an added visual pit that anyone that wanted could access, depending on who owned the software. Either the exchange or a third party and it would virtualise the tape.
@@Revolution3030 This is only for those willing to purchase the technology assuming it provides an edge. Everyone else will use the standard tools, Dom, t&s, etc.
Ooph. It's March 10 and I wonder if he's sold that TSLA long position. Ouch. I had an iron condor on it last week and sold it because it was slightly too bullish.
Relying on "instincts" will kill you.
"Looking inward" and wait for the right market.
LOL😂
'cause the so-called "right market" is in past tense.
You only know it afterwards.
"Hedging your Life???"
You're kidding me.
knowledge bomb
I gotta go to puerto Rico now
YES !
Aaron , too slow to execute tells me youve taken some trading pain and are now gunshy , been there done that , get systematic dude and thats entry and EXIT . Adjust position size to equity/ strategy profit . Know your expectancy and trade to it .
u feel me bro :D you are fucking heavy hitter. love it
For tax, come to the UK. Profits on personal trading are not taxable. The Revenue may try to tax your profits, but if you challenge them they will fold - must get a trading-savvy accountant. Obviously, if you are trading other people's money it's a business and you pay capital gains.
For US citizens going overseas, make sure you're up to speed with your iniquitous FATCA law, where you are taxed on citizenship and not on your country of residence.
if you're not making money with your smart phone, it's a stupid phone lmao
No content in Lucci's talk.
Lucci just talked.....stories.
Sorry Aaron, not your fault.
Did the guy actually finished the code/scripts that prevent you from making those mistakes? I just wonder if he got there?
at what point people will understand !!!!!!!!!!!! anybody who sell you any educational crap, have no clue how to trade successfully. knowing how to place a trade and actually to make money are two different things. real traders don't sell shit, there is no time or need.
These guys know how to trade and are transparent about it. They have set set up trading as an educational business and pay themselves a salary in order to not pay all the capital gains tax you pay as an individual. I am chatting with my accountant right now about this for 2019. Notice most of them will make no guarantee you will learn anything, and many come and go. This is why I never waste any money on these folks and the people trying to trade various systems, chatrooms, newsletters, etc. At least this guy is honest about it. He even says you have to learn yourself and how to trade your personality. Some people need coaches and are willing to pay for it. Again, he is transparent about it unlike many con artists in the arena. My first question to any guru is let me see your bank statement. If they are not willing to produce, they are full of shit.
Best of Logan Paul your id or myinvestingclub, I can't tell which one is dumber
Bingo!! 💪🏽I do like hearing there BS talk thought it is entertaining 😂
Sang Lucci releases his p/l.
It's quite ridiculous the amount of tax certain countries have..
More hedging and going out longer, it works!
But what if you dont have another source of income
year early on the TSLA call lucci boi lol
15:50 - 20:31
moving to PR
All good things come to those who wait, bet they are laughing now waiting for Cryptos to come back
Yea, watch your kids ears b/c we know Lucci has no filter 😂😂
yeah...every other word basically
I think it's safe to say this guy can't speak without dropping the f bomb lol. Great interview nonetheless!
automation is here now 2020 :) well im still listening 2020 haha
Well the crypto market is back and better then ever fellas
I would give this man MY MONEY!
cool story bro
I think its important to say..... Puerto Rico is part of the United States.....
good to Know thanks
A guy who has chat with Chat with traders and he is trader should pay attention to what words come out of his mouth, he keeps saying profanity words which put his personality very down. very pity of him...
how much ya wanna bet the move to Puerto Rico is not because of taxes
Connor Segeren tell me more
@@oldmansoda why dont you tell us more on your cynical comment?
@@XTen1000DaysX how was it cynical? any perceived cynicism is a result of your own ego's defense mechanism because you have fallen for a scammer and his fraudulent hustle.
@@oldmansoda because he gave a reason for moving to puerto rico and you're sketpical about it in a cynical way, assuming what he said is not the truth and that he said something else makes you question why he chose to move there in the first place.
@@XTen1000DaysX fair enough. Yes, I am cynically skeptical about his real reason for moving. Sometimes my gut feeling is right, sometimes it's wrong. In situations with people in finance, history shows us that usually all involved are liars and scammers. Thus, I call bullshit on his story. My opinion, unfortunately, has no bearing either way.
Bitcoin hit 58k...i bet these guys are kicking themself were leaving crypto
Exposing Robinhood...just wait a couple years...
Wow, his mind has changed alot since last interview!!😳😳 I feel like he is going down ; or may be he doesn't want to show off
LOOCH!
move to uk you can spread bet trading tax free..... so far as its not your main source of income....
fifield scares me. seems like the type to be bored with the stupidity of people and nature.. I hope he's alright.
Poor guy sold all his crypto 5 years ago
I smell a lot of marketing here.
GEEEEEEEEZ, TALK ABOUT A POTTY MOUTH -