Transcription
Okay. Hello everybody. Today we're going to do another segment of uh our voices from Discord, my new name for it, as we interview some of the people that are on our Discord, um as we have gotten to know them. Um and they have talked about their trading and various things. We thought it would be interesting to get to know some of them even better and and show other people. um because I think it helps people relate to their story and and their trading and maybe makes them feel not so bad about their trading or you know maybe makes them feel not so good about their trading or or anything or how people learned and maybe that's that can help other people learn as well. So today we have our friend Josh. Welcome Josh.
Thanks Jason. Thanks for uh having us on.
Josh the farmer we'll call him. So welcome and why don't you um why don't you just go tell us about how you got into trading? Tell us about your story, the ups and downs, I'm sure, and always what's going on now, what you've changed, if you've improved, and if so, how you've improved, and and how you can help others to improve.
Yeah, I'm pretty uh pretty normal everyday person. Uh I grew up on a farm. That's probably how we started off on that. I actually grew up on a a grain and livestock farm in the Midwest. So, I know some of our our Discord members are tied in with agriculture, which is kind of fun to see. Growing up on a farm, you you learn about the commodity markets, you know, just through osmosis. We had cattle and hogs and crops. And so, you know, the the DTN price platform machine that you'd always go and toggle through all the the numbers and prices was really probably my first experience. Um, so that led me to college in Iowa. I had a professor one day play a clip of the Chicago Board of Trade and the crazy, you know, trading floors. Everybody's waving their hands and it just looks like mad chaos. And um I at that point in time just knew immediately that's kind of like you know that like called my attention and so you know asking more to my professor about like price discovery and things like that led me down a path of you know eventually uh switching majors to business and finance and uh later kind of sprinkled some real estate in with that. So that really was the kickoff.
I would say the turning point for you know learning and then actually taking that action or that first step. Um it came when I when I tried to get an internship. So I called like 30 or 40 clearing houses and it really was kind of crazy because I was getting really discouraged because nobody was calling me back and I landed on a clearing house in Cedar Rapids, Iowa. Um they cleared the uh Minneapolis wheat exchange and the Kansas City Board of Trade the wheat futures there. um and actually outsourced the business. It was really kind of a fortune uh you know diamond in the rough experience because it allowed me in a smaller clearing house um to really have one-on-one with the owners and the owners were actually active traders and the dad actually developed some early system trading which really was fascinating because I actually sat on the desk remember answering the phone one time this guy's like screaming at me and I'm like gez what the hell's wrong with this guy you know and and uh later I found out you know it's a pretty successful you know midsize fund manager at the time out of um kind of the northern suburbs of Chicago. But that was a really good experience to fasttrack learn the commodity markets. I eventually did get on the floor at the Kansas City Board of Trip. One of the deals I had made as part of my internship with the owners, they said, "Hey, if you're going to do an internship, we're not going to just have you show up and pay you. You're going to learn something." So, they were just really good people. They actually allowed me to get my broker's license and take my series 3 when I was in college. And so that was part of the deal that hey, we'll take care of that, but you, you know, you have to pass and do all that. So, passed that. Got on the floor at Kansas City. Um, never, you know, never had a seat, never actually traded on the floor, so to speak, in the pit, but I was able to clerk and run options orders in and futures orders, and the Kansas City Exchange was not very big, so you knew everybody on the floor. Um, which was a really eye- openening experience because, you know, as what we do here at crowded market report on, you know, the discord channel, so many different people trade so many different things. Uh, that experience allowed me to really open my eyes and be like, okay, I want to be a, you know, a spread guy or I want to be a directional guy or or I want to see how the option guys are handling. How are the market makers doing it? Are they, you know, delta neutral but yet scalping a little bit of gamma? Which way is their opinion of the market? So a lot of that I you know had exposure to but really didn't understand the mechanics of it until later in my um you know my trading career.
So you know fast forward uh left there in 2009 actually went to go work for an international grain company trading um the actual physical markets. Not really a lot of what I use today. I pay attention to it but it's not really anything that it really focuses for on my trading. I'm a predominantly I'm a spread guy who takes positions in the market based on an opinion of a direction andor a you know an arbitrage or discretion discrepancy uh a lot of that is based on seasonality just because of my background I understand the seasonal changes um though it doesn't make it perfect cattle have not treated me very well this year so um you got to really kind of understand why some of the seasonal dynamics are driving spreads and uh that can really help you and it can also kind of really hurt you if you are not paying attention to your risk and trying to be too bold and think that oh the spread has to work. It's you know nine out of 10 years seasonality. No, nothing ever works in this business. I've watched a lot of people make a lot of money and blow up and if I could interrupt you.
No, go ahead.
I think what you just said in the last 30 seconds um applies to every single type of trading, every single strategy, every single thing that anybody tries to do or thinks they're trying to do. I think those last 30 seconds are are gold. Not everything is always going to work. You better understand what your risk is, you know, all these things. It's to me that's that's what it is, right?
Yeah. And and I mean, I'm not No matter if you're spread trading cattle or if you're day trading S&Ps, you know, it it's all really truly I mean, I know you hit so hard on this and and um you know, with with the process you use and have back tested and I love it when you really key on to something big. You're like, you know, price you, you know, I'm a contrarian. I can't just blindly short price without a news event because I have to see that crowded positioning. I trade positioning, not price. man that when you when you've said that before and then you've reiterated that that is so gold because I watch a lot of guys get their ass handed to them in 2006 2007 trying to short the grain markets and I've seen a lot of guys just absolutely rake in literally millions of dollars by jumping on the trend and positioning at that time if you would have um looked maybe looked a little um crowded wasn't max necessarily crowded but the the price certainly was I mean we were hitting historical markers on you know corn futures and bean futures and um it wasn't the fact of the price where it was at. It was a function of the supply and demand and the positioning that drove it. It took me a while in my trading to figure that out. I mean, I would say up until probably 2019, 2020 is really when I was just more of a break even trader. I'd have a couple winning years, couple losing years. I always knew if I could just minimize my risk or or losses, you know, I could always have an edge to stand on and come back. I mean, rule number one in this game is don't lose your wad. like you you blow up your account, you're done. You can't do anything. You know, as as egotistical as it may be to stick with the trade because you think it's right, you don't know You just have to accept the fact that it's a probability game where if you do 10 trades, six may lose, four may win, but if your four trades are double, you know, double to triple the size of your losers, you're in that profitable trader day in and day out. And that's a 40% win rate. So, I mean, I say as you know, and it's funny because I never really verbalize these things so much. I'm just a guy that trades and I sort of have ideas and rules, but because of the CMR and all that and these interviews that I do once in a while, you know, I've had to verbalize this stuff, which has become sort of interesting. And, you know, as you know, um, my big thing that I now say a lot that I never used to say out loud is this is not a game of guessing where the price is going to go. This is a game of getting into a into a situation where the riskreward is skewed in your favor. That's it. And and no matter how many times you do that, it's riskreward. It's not reward reward, right? There is risk, which means you could lose. But if you're going to lose, this game is losing one, losing one, losing one, making five, losing one, losing one, losing one, making six. That's what this game is. I don't care how you trade. I don't care what you do. I'm a thousand and I've been doing this for good over 35 years now. That is what this game is. It's nothing other than that, right?
Trying to find that riskreward skew is not easy. Um, but that is what you are searching for in my view. And and there's a million ways that I know you've heard me say this too, but to do that, you know, people that trade breakouts for example, which I don't do. I'm a turn picker, right? But people trade breakouts and a breakout is, I would argue over time a skewed riskreward. You know, if a stock or any asset is going from 20 to 100, the first thing it has to do is break out at 20 and go to 21. Does it mean it's going to 100, right? No, it might go down back down to 15, right? But there has to be something to tell you that there is a skewed payout. Breakouts are a good way to do it. not how I trade, but and I could get into diff different breakouts. Um I would argue breakouts that where people are crowded short are a hell of a lot better than breakouts where people are crowded long, right? Which is where the whole crowding thing comes into it. But yes, I think what you're saying is is absolutely right. That that that's that's what this is what I try to say to people now every time I talk to someone. That's what this game is. It's nothing else but that. You're not searching for is the market going up or down. You're searching for what is the riskreward on this trade. And is it skewed? Is it skewed? And therefore, I should put it up. And if it doesn't work, it doesn't matter. And consistently do that. You have to consistently because that one trade you miss may, you know, it may be half your year. It don't even talk to me because I just did one.
Even within this, even within all of this, you know, this is what's so hard about it, right?
Yep. I just had one yesterday where I was doing this trade. I lost money on it twice already. I got a little scared. I put it on for the third time. Boom. I have sized it. Boom. Right. I'm glad I got some on, but the truth is I'm I'm pretty pissed at myself because uh you know turns into a big trade. It makes a big difference. But that's the discipline and that's the difficulty of this game. You know, I I've at least for the most part I can sleep, you know, and say, "Look, I missed it. You know, what am I going to do? I'm not going to do anything stupid now." Right. make up for it, right?
Absolutely. Um, but anyway, so go ahead. Continue.
Sorry. No, to piggy back on things. Yeah. I mean, that was one of the things I wanted to kind of segue into like the the psychology part of what you were just saying too, like you you have to sell your size to where you can sleep at night, but yet make it matter. and you play in a whole different ballgame than what I do obviously, but like in your your your analysis of like, you know, going back to when we started to see this volatility explosion in all the markets, which actually hurt me. I'm not here to say I'm like a fantastic trader and I just made $4 million this year. No, actually, I was up about I have roughly about a 50 $60,000 account right now and I'll take money out and it I was actually up, you know, 10 12 13% if you look at in in day highs. I was actually up higher than that. And when the volatility really expanded, I was probably one oversized a little bit and two in the oil market. Um, I got caught there and wasn't positioned correctly with enough u downside hedging risk on. So it actually it wiped out quite a lot of my gains. Now I'm bouncing between like pretty much down 2% to up 3 4%. And for me, you know, I'm going to be profitable this year. I mean, I unless, you know, god forbid something wacko happens to the world, I'm just going to play it like I always do. Watch my risk. risk one to make two to three risk, you know, and take the trades when they're there. Like what you were just saying, you know, you got burnt, you know, twice and the third one's turned into a large, you know, winner so far. Um, I went long this morning because the risk-to-reward made sense there. Like I I'm looking at it and I'm like, you know what, this setup and the seasonal, you know, for view of what I look at the support and resistance, like I can risk so much, like just this much to make so much more. Like I mean it could be a three-banger, a four banger even. And um if I get stopped out, oh well, I'm not going to cry about it. I don't care. Where's my next opportunity? That's that's that's the psychology of what I'm thinking. And there's so many different people that trade so many different ways in our Discord room. Like um you know, not throwing out names, but you know, there's some guys that do some fabulous earning play stuff. There's other guys that are systematic traders, and I've learned some stuff from them. And I um you know, I try to share as much as I can. U it also keeps me in a place of where I'm I'm not overtrading because in in some regards and this is something everybody has to just work through especially any advice I could give to the younger guys. You you don't want to press it. You don't want to push it too hard and overtrade. You want reps.
Yes. You want number of trades to increase and balance out that draw down when it comes. But what you don't want to do is overtrade and take stupid trades where your edge is only half ass. Like if for me if it's not a good edge risk-to-reward and it doesn't fit like I've come to the point where it's not going to go in my account and does it occasionally happen? Yeah, I'm human. It it it's it's going to happen to everybody. We all get caught up in our emotions and for reading market wizard the new market wizards you know on your portion you've you've said that early on in your trading career when you went on the you know the the holiday for a little bit. you woke you woke up and it was like you know I got a 300k winner or whatever and similar things have happened with me like not only that I went on vacation I couldn't and it wasn't like now there's no cell phones back then I was in Africa and yeah I finally got to a phone 3 weeks later I called up my broker the market had gone up a lot I was long great and the first thing I said was sell if I got wait for another 3 weeks instead of doing that I probably would have doubled how much I made yeah it's it's crazy how that stuff works out I I would say going back to maybe a little bit more on the the story side for me. And um when I left the the grain trade industry, I actually was segueed into uh and not even on purpose, right? The the guy had started one company. He was a huge agricultural land private equity guy. Literally wrote books on the industry, was on CNBC, Fox Business News, and um was very very blessed to work for him on a new startup that he did after he sold his main company to TIA Craft. And so that exposed me to a lot of our high net worth clients. um I could spout names off and people would know who they are and and just serving them in a capacity of not just only doing my job but doing it very well opened up the conversation ability for me to pick uh a phone up and have a 10-minute conversation with people that were just on, you know, CNBC. Um, so that that was a real big opportunity that I capitalized on because it allowed me to um ask questions that I I wasn't sure of the answer of and they necessarily maybe weren't, but they had a theme and the discipline to execute it. Um, and in that space, it's a completely different ballgame. But one of our clients was a his family is a very successful um trading family in Chicago and they they um he traded for three years. kind of really short story. He traded his first year and I think it was in lumber. Second year he traded in lumber, made like 100 grand. Third year, made enough money to essentially retire. And so, um super awesome guy. Love him to death. Just just like a I can't say a good, you know, enough good, you know, he's a he's a true mentor. And he was a client of mine. And so, we've just developed a relationship over the years as he was my client first and foremost. But secondly, I would tap into his knowledge and he was a wealth of knowledge sharing more things than I could have ever asked anybody, you know, to date. And uh so I I just want to say this too, and I know Paul Tudtor Jones is a big one about this. There's other famous guys that are, you know, Ray Dallio is one, love him, hate him, whatever. You know, he's a big proponent of it. Now, I can tell you all the guys on the trading floor in Kansas City and Minneapolis and Chicago that I've always worked around or with directly, they all say this, pay it forward. Once you make it, pay it forward. That's that's your only obligation in this business and industry is once you've made it to whatever mate it is in your eyes, maybe it's not millions, maybe it's that freedom or flexibility, maybe it's that um you know desk position that you finally made it on a prop desk. Whatever it is, make sure you take somebody with with maybe not as much skill or experience and pour into them. And that doesn't mean answering everybody's questions all the time, but what it means is, you know what, don't be selfish. this this game is trillions and trillions of dollars big. You you may have a small edge and you may be able to execute it and repeat it. Um it probably in our in our sense is like I'll just say professional retail traders or whatever we are retail traders, you know, you're not going to have your edge exploited. If it's truly something that somebody could push a lot of money through and in, um it's probably going to be exploited by Goldman or JP or or you know, one of the banks in in China. you know, there there's there's so much money chasing the the markets for a position size to really make sense. Um has to be such a big wide broad view. And so, I say that to say, look, find find a an hour chart and base your risk on that. I promise you, Goldman's not moving four billion dollars through that edge every single day.
For example, like what you're saying about the pay it forward thing. I never it's that's a very hard thing to conceptualize when you're younger.
For sure. When I was in my 30s, I had no interest in paying anything forward. What I had interest in was paying myself and making money for me and my family. Yeah. um quite frankly and then um and then that whole market wizard book came out and a lot of people were hitting me up and and that's really why we started the crowd and market report people are like you know and people had done that to me I didn't even realize it then but I realize it now the people that helped me when I was younger didn't need to help me you know what I mean and they were not really getting any benefit financial benefit right these were very very very rich people that were you know but You find out when you get older that I think and the younger you do this the better. Some people get it when they're young. I didn't. Um but yes, you find out when they you're older that the best thing you can do actually in life is is to give. The more you give, the more you receive. And that was really what crowd report that's how that got started. Um people are always like, "Oh, well, why would you do this?" You know what I mean? Why would you give away your stuff and why would you show people how you trade? You're going to lose your edge. Well, to your point, um, and I trade a pretty good amount of money, you know, but the truth is we've been doing this for years now. I've been giving away my stuff. I've been going on YouTube and making videos for, forget about it. Not just for the people that have joined CMR. I've been doing videos for free. You can go right on YouTube and and figure out exactly what my trading method is if that's what you want to do, right? But the truth is last year was one of my top 5% risk return years that I've that I've had in in the 25 years now that I've been trading this exact process. So it hasn't taken anything away. You know what I mean?
Yeah. It just hasn't right. Um and there's a million reasons for that. I think um including it's one thing to know a process, it's another thing. I still screw up like I just said just yesterday I screwed up. I still screw up my process that I've been trading exclusively for 25 years. So, good luck to somebody who has not traded it for 25 years, right? I screwed up because look, I had the typical stupid amateur stuff. Same trade, lose, took a loss, took another loss, got scared the third time, and the third time, as it turned out, looks like it's a charm, right? Good luck, you know, coming on trying to trade someone else's process, even my process. Lose, same trade, lose, all of a sudden, three trades in a row lose. Good luck trying to put that fourth one on. you know, when you're not comfortable with it. I at least can go back 25 years of history of this and I can look at my draw downs and look at how many times I've had losing and be comfortable, right? Someone that doesn't have that, you know, good luck. Which gets into why I'm I'm always so anti-copy trading anybody, including me, right? Because uh it's a silly idea for many reasons, in particular that one. But yes, the whole give it back. And you mentioned tutor. You know, I've told this story before, but when I was uh in my late 20s and I started a CTA and I wanted to raise money and I was going to take over the world. I went to um one
Of these conferences, and and tutor spoke, um, at the conference, and I went right up to him, being the cocky little kid that I was, um, afterwards and shook his hand and said, "Hey man, much respect." And I said, "You know, I'm coming after your ass." And all he said to me, he said, 'Well, when you get there, make sure you give back.' And again, at 28, 29 years old, I didn't really understand that, but it but it has stuck in my head to now.
And I wasn't really actively looking in fairness. I mean, I've turned to some charities and stuff that I have I've helped out along the way financially, and that's fine. That's one thing. Um, but this whole CMR thing came up because of the book and because so many people were approaching me. And as it turned out, it it was the perfect opportunity to exactly that.
And what's been great in my eyes at least is to your point, now we have hundreds of people on there and they all trade different ways and they are all for whatever reason, we've attracted well, as you know, we kick people off that are just there to be jerks anyway. Yeah. But but we have attracted a number of people who want to do the same. They they help each other. I I watch them, right? Um, I don't know nothing about spread trading or any of that, but I see people talking about it on the different threads and they're helping each other and they're talking to each other and I know people are contacting each other because they've told me behind the scenes sending each other direct messages which I don't have access to. I can't see what private conversations people are having, but a lot of times they've come to me and said, "Hey, I met this guy on here and we're working on this and what do you think of this?" And I'll look at it or and then other people look at it and that to me has been the most amazing thing about this.
You know, people want to join these trading services and Discords for a lot of different reasons. Obviously, to make money. Um, but I really feel like this one has become about it's about making money, but I really feel like, and tell me if you think that I'm wrong, but I really think that there's we have a really good group of people on there that are really helping each other. And and I can only help, you know, I mean, I'm one guy that trades one process, you know? I mean, yes, I I have years of experience of looking at the markets, but as you see, sometimes I'm right, sometimes I get a good read. And you know what? Sometimes I'm wrong, and sometimes I get a bad read. You know, I ain't no m I'm not going to create magic for anybody, you know, other than to help them learn about risk reward and taking losses and all the things that you're talking about. If you blow out, then you got no chance, right? Um, but yeah, these people, it's it's it's amazed me quite frankly. I didn't when we started this wasn't even my idea to start it, but I agreed to it. I didn't know it was where it was going. And where it's gone has quite frankly uh it's amazed me. The sooner you start giving, the sooner you're going to start receiving is how I see it in so many different ways.
So anyway, to your point, yes, get forward and and that has always been, as you said, a theme in the trading community, especially on the floor, that was always the thing. The floor traders always brought in the young floor traders, taught them when they felt that they were okay, backed them with money, and got them all started. That story is as old as the hills on the floor, right? Yeah, that's what happened to me. One of the Kansas City guys gave me a little bit. He's like, "Hey, if you got an idea and think what you've got, you can do." And made money for a little bit. Lost few thousand dollars and it wasn't all of it. It was I think it was like a $25,000 account. I was like, "Look, dude. Like, I don't think What I remember at the time when I was trading, I'm like I'm like, "Look, dude, I don't I I know I can do this is what I remember saying. I'm like, but I don't think I feel comfortable losing your money, right?" He's like, "Well, it's our money." Because our agreement was a 50-50, which was And I'm like, "Look, dude. I I and I gave it back to him because I'm like, I can't I can't live with myself if it went to zero, right? But he didn't care. I mean, he was making that much or three times that much a day.
It's hard. Managing other people's money is hard. Yeah, it it's a different psychology. I I try in this business for me to visualize like, you know, if I can give any advice, you know, what is it that you really truly want to get out of trading? Because a lot of people try to to trade and they really just want entertainment or they're gambling fiends and they just want to put it all in black. um or do they want freedom, right? Or do they want as we all pretty much trade do financial gain, right? I mean, that's that's one of the byproducts of this business. And um with that comes, you know, risk. But, you know, not everybody like me especially. Yeah. If I went out and made $10 million in one year, I'd be really happy. But I can tell you one thing about me, and that's where I'm going with this. You have to figure out you. I I love business, right? I'm a finance business guy, and that's what my degrees are in. And I love working with people. I love working with business owners and entrepreneurs. But for me, I don't think my aspiration would ever be to sit in front of a computer screen every single day from, you know, I'm in central time zone. So from, you know, 7 in the morning till 3:30 at night. That that's just not me. And so my returns may suffer a little bit, but I'm not going to shoot for 3 400% return a year. I'm going to be more realistic. I can easily do 30 to 50 a year probably with with risk that's in check. Um, so what if I only make 20, right? Oh well, you know, I mean, some of the best money managers in the world haven't made a consistent compounding annual return of greater than 25%. I mean, that puts you in the top 1% of 1%. If I'm not mistaken, tutor's compound return over time is 18%. Is that what it is? Yeah. I I think if every aspiring younger I won't even say younger, but a learning trader could say, "Hey, if I do 25% this year, awesome. Of beating out most people. And if I can hone my skills and get 1% better every day for the next year and I want to try to do 50%, chances are you're going to surprise yourself. I mean, when I really buckled down on consistency and discipline and exercising my edge more so on the risk reward side, that's when I turned the corner. I mean, that that was when I turned the corner. Now, yeah, I I don't have a monstrous account, but I also, like I said, I have other things going on in my life where I'm like, "Okay, I know I can sleep at night with this, right? I'm not going to shoot the whole wad on one trade, you know. I I mean, I I'll say this on that statement. My uh I I one of my clients is a a very big and well-known prop shop. Um and has a few hundred traders managing money for them and has had thousands over the years. And the guy who is the head of the place and who hires the people I'm very close with and uh he always says it over time your draw down is going to reach your average annual return at some point. So you better be comfortable with that. And I know you meaning whoever I'm talking to that's not going to happen because you're so good and you're not going to allow it to happen. But the truth is it's probably going to happen. So you better be comfortable if you're going for 100% returns. You better be comfortable that eventually draw down's going to be 100%. That's all I'm saying there.
Give us cuz we got to go, but give us a little more. I love the advice. Give us another piece of what you think is the best advice you can give to uh to people out there in terms of all this, man. Best advice I could give somebody on all this? Um, man, I I I just got to go back to get to know yourself. Like, I mean, why why are you trading in the first place, right? For me, it was a true genuine passion and interest. Like I just you the buzz of a trading floor is one thing when you see it on TV, but to actually enter that environment and stand in the ring or run orders or you know signal them in across the pit like it it I can't describe it to this day, dude. It gives me goosebumps thinking about it. And so for for me it wasn't necessarily all the excitement. It was it was the organized chaos. And you know from that came a challenge of like trying to learn different aspects of the markets. Um what is it that I'm looking to achieve? Who am I and why? You know, and um you know, for me, like I said, why isn't to sit behind a trading screen all day every day? And um I love it. Know know thyself is extremely important and and just like just about everything in life as well as in trading. It's like a chicken and egg thing, you know? It it reminds me of I've told this story a few times, but it reminds me when I started playing guitar and and the guitar teacher like, "Well, what is it that you want to do?" And I'm like, well, what do you mean? What is it that I want to do? I want to play guitar like Jimmy Hendrix. That's what I want to do. You know what I mean? Like, I don't even understand the question. What did everybody want to do? But now, as I've played a few years, I now understand what that question, man. Cuz there's so many ways you can go and you can't go all the ways, right? I can't play like Jimmy Hendrix or and Joan Baez and, you know, all the Eddie Van, you know, you can't do every single style. I'm not going to be a finger picker and a rocker, you know what I mean? And a classical guitar player. There's not enough time in the day, right? So, you have to focus on what it is you you're trying and I know it's like with trading, what is it you want to do? What do you mean what do I want to do? I want to make a shitload of money. Like, okay, I get that, but there's more to it than that. And then, like I say, it's chicken and egg. It takes a little time just like it did with me guitar to even understand what that question means first. But I love it. Know thyself is and and you better know thyself because trading will will find all of your weaknesses. It still finds mine. You don't know yourself until you go through a draw down. And you got to have that confidence to come out of it. That's where I think a lot of younger uh when I say younger like less experienced traders, your draw down is your real test. Like if you if you just put the aside, figure out why you're doing what you're doing and if it is exactly why you should be what you're doing what you should be doing. Just time, baby. Time and trades. You'll ride it out. And trading is about draw downs. You know, it's not the winners that define us. It's our draw downs. You spend more time in the draw than you do than you do on all-time highs. That's for damn sure. Exactly. As does the S&P. One guy loves to post it every once in a while on our on our Discord where he shows the amount of days that the S&P even during the bull market. Um was off the highs is off the highs. It's 85% of days, you know what I mean? Like off highs, right? Um but in the meantime, it it was going up, you know, a bull market. So yeah, I think that's great.
Well, look, man, that's really good stuff. You seem like a really good guy. Thank you. Glad you're a part of our thing. Honored. No, you guys. Shout out to you and has some behind the scenes. You guys, you truly have put a community together and it does feel like the trading floor, right? Everybody's helping everybody. Like we're all here to make money. We all do different things. We hell, we probably all have, not all, but like some of us have opposite trades on at times. Yes. And and oh well, you can make money, the other guy can make money. And um it's always good to see why other well people have opposite trades on than you. You know why why do you have the opposite trait on that and I what are you seeing that I'm not seeing? I mean all these things can help you know. So yeah I appreciate it. You're you're a good part of it and um thank you. It's exactly the type of people that we are we are trying to attract you know um because it just makes the community that much that much stronger and that much better. So I appreciate it. I appreciate your time today. Thank you. Appreciate Yeah. We'll talk again soon and we will we'll see you on the uh on the Discord. All right, my friend. Thanks. All right. Thanks, bro. Farmer Josh, everybody. Ex We should call him ex-farmer Josh.