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Forex Trading on Canada Talks Sirius XM Radio 2020

Forex Trading on Canada Talks Sirius XM Radio 2020

Forex Trading on Canada Talks Sirius XM Radio 2018 oh yes Krystal Nation awakened this is Sirius XM Channel 167 you listen to candidate talks lets go to the excited States of America now well of course so many of my friends will see me on channel 167 in Los Angeles and Las Vegas are you guys doing Im so jealous of your weather thats a warm word John Morgan is he is a day trader with Forex lens with volatile markets I want to know what the hell is going on with the world of day traders these are guys some of them are just hackers some of them are crazy some of them are just gamblers and others are wiseacres who apply their acuity and their learning to the markets on a daily basis armed with their laptops and their gray matter they get on that saddle and rock that wired Wild West one such man is John Morgan John thank you for joining us thank you thank you yeah the weather here is nice today but optin has not been youre in the Midwest what state South Dakota all right brothers so youve got that continental climate so you dont get off easy no Missouri River so it can be like 40 degrees here in the winter one day and well to see the snow the next so you get up you get up youre in your underwear right you have a shower your hair standing on end yeah you have your coffee now I know youre fully clothed now and thank you for getting dressed for the show so John Morgan gets up for excellence superstar youd guess up and he just opens his laptop and he gets rockin tell us what the day trader world is like what is it like contending with this incredible volatility in the marketplace and what your advice is to people because I know people that have lost a lot of dough trying to be day traders how do you make it work and whats your advice for people well Ill tell you that I know theres a lot of bad stuff out there that people can get involved in and trying to learn how to day trade most of it is real crap unfortunately how you get better at trading in my opinion how I did it is I have to lose money I mean you have to pay your tuition I think a lot of people think that just because its easy to access and get started with you know you just open account with the broker throw some money and then boom instead hes become a millionaire its not thats a quick note saying you grab a baseball bat and a glove you walk on to the New York Yankees training day or the or the Blue Jays and you think youre gonna be able to contend with all those guys because I thought that when I started day trading and I quickly realized that was a dumb thing to do so you have to you have to learn a lot you have and you have to practice and you have to put your money at risk you have to be willing to go through that horrible process of losing money before you get good at making it its its 90 emotional you know the technical analysis component side of it is its not that difficult but learning how to react to huge drawdowns or losing a lot of money that is very hard thats why you lose money and what you have to do is resist your first impulse right you have to get become very aware of your of how you how you are feeling I mean and this isnt something you hear a lot of people talk about when theyre as far as trading they just want to tell you some stupid advice like use these crossover systems or or you know other other bad stuff but you have to be very aware and cognizant of how you are feeling is you are trading if youre getting freaked out you should not be trading if youre getting super excited you should not be trading you should try to be as objective as possible but thats very hard to do with training trading really is the antithesis of human behavior I mean you how you make money is by putting something that is so valuable and precious your own cash at risk to make it and risk losing it I mean that is not healthy or or or easy to you know Im really enjoying this conversation with you Igor Kamal of is a friend of mine and one of the progenitors of Forex lens and he told me that youre great and Im really pleased about Im really pleased that were doing this interview today because youre a good exponent of this industry talk to us about how day trading is growing how more people are getting involved and what the warning should be out there well it is getting bigger and bigger and bigger I mean the old walls and barriers to getting access to the markets are not there anymore its getting cheaper to enter Forex is its probably that Forex is a trading market it is designed for day trading it is it is the market to trade you know its open open with 24 hours and we didnt only closes Friday afternoon until Sunday evening and then its open again for the whole week and there are more and more people coming into it getting involved with it and you know the warning is that theres not a lot of quality information out there and I am so opposed to these signal sights and this false people theres a lot of failed traders out there that end up becoming glorified internet doortodoor salesman selling the same crap that got them broke and when I when I ran into Igor and and you know they talking to me about this site and I was turned off right away because I have this idea of what these services are but then you know they were like we really want to be about the positive education component of it providing good integrity and and so that really I thought okay this is this is something I can wrap my head around and get used to so yeah Im with our Forex lens customers every day Monday through Friday 7:30 central till around 8:30 where I go over not only the the trade that Im looking at taking but also how Im going through it you know and how Im approaching taking those trades not just sending out a signal and saying buy sell I am leaving a lot of that a lot of decisions and when to take profit and what your stocks are going to be thats up to each individual person but sometimes trying to find the right set up that is a hard thing for for new traders to do but we also talked about the emotional side and you know you know being aware of how you as your trading John Morgan joins us from for excellence in South Dakota talk to us about cryptocurrency some guys have made a bundle met a guy a couple weeks ago like he made seventy five million dollars on this stuff right and it was he was nervous about it he didnt want to talk to me about how much money he made those are the guys that really count the guys that dont talk about it the guys that dont want to talk about those are the guys that have really made the dough some of them feel guilty about it some of them feel that its perverse somehow because they saw their fathers working forever and their grandfathers and here they the thirtytwo and theyve made this huge score but talk to us about cryptocurrency and the pitfalls because not everybodys getting rich no and Ill tell you that cryptocurrency is up until about December because we had a massive drop in the about a 70 loss in the total market cap from December to about February 5th and a lot of people got into crypto currencies they call it the public participation phase Dallas area youve got accumulation public participation thats when the public gets into it when I started hearing the gal to grocery line talking to me about aetherium I knew we were at a market high you know wasnt even save Bitcoin she said lets all buy cryptocurrency Bitcoin tonight and I sold out I knew we were we were gonna be oh man it was just creepy but there were so many people who got in and and and this is the most dangerous trading environment for new traders because for a lot of folks are in crypto this is the first thing they traded and literally you could put a penny in any kind of fountain with any any crypto name on it and you could come out with a hundred bucks from that penny and then everybody whos got into trading for the first time thought oh Im a genius and then they just kept buying as it got higher and then they lost everything as it went down and and its the worst thing that can happen to a new trader is winning Im serious you win as you start trading that is a horrible way to start you you are set up for failure way and and the folks who did make it big and got up millions of dollars I mean its like winning the lottery most of those people lose it anyways I mean if you didnt earn it the hard way the odds are youre gonna lose it the easy way to it so where have you been successful John Morgan with for excellence whereas a day trader where have you been successful versus other people that try day trading and go broke well I I guess I stuck with it and you know I I have an amazing wife who is very patient and she was my wifes a psychologist so I dont know how much of the Yoda Minds tricks on me but I mean I it was it was not easy Im gonna tell you that right away it was not easy and and a lot of day trading is counterintuitive which is a really incredible insight journal I want to have you back John Morgan with Forex lens whats the website how do people reach you sir thank you so much John Morgan the life of day trading in this volatile market you folks have yourself a great week andrew crystal over and out my baby you talking money neither your name welcome to Canada talks exclusively on Sirius XM 167

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