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jeremyjohnolson

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About jeremyjohnolson

  • Birthday 09/01/1977

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  1. Thanks Anthony! I think that's great that you are starting so young. I hear what you are saying about wanting to get into trading and skipping the business plan stuff. I know what you mean because I felt exactly the same way a few months ago and when I first started day trading. In fact, it was a challenge for me (and still is to some degree) to get up the motivation to do practice trades, or a business plan, etc...because I almost felt like in a way I was wasting my time when I could be actually trading. Practice trades were especially frustrating for me when I won big because I would be kicking myself that I didn't take the trade with real money and make REAL profits. But the mind is a funny thing, without detailed journalling, it is easy to remember the wins and forget the losses in a practive account...anyway, I feel differently now. Now I am looking at the whole process as not so much this trade or that trade as being important, but more developing a set of skills that I can use long-term. In Developing your Edge/Playbook through Journaling I really liked the way Mike B. went over how it is similar to the scientific method of testing out different hypothesis (i.e. trading strategies), logging and journaling every trade to get sample sets, then going back and tweaking the strategies to find what works best and what doesn't work. It takes time, but my theory is that like you said, the tortoise beats the hare. I think in the long run the slow methodical approach will pay off. I would rather spend 3 years learning a skill set that will last a lifetime than 6 months blowing up an account! I am not implying I think you will blow up your account lol! I am saying, that's what I would have done if I just kept going wild west style shooting from the hip...no doubt, I would have blown up my account in short order. I am at the point now where I want to feel very prepared, if anything, over prepared when I finally decide to go back to live trading. I would reccomend going through all the foundational classes in the BBT education page, if you haven't already, they are great! That's what I am doing now. So far I have completed the first four out of the six. They don't get too much into strategies, but more the overall approach to how to get to that consistently profitable trader level where we all want to be.
  2. Anthony, I agree, it can be a humbling experience. It appears so easy. I mean, anyone can buy or sell a stock with just the click of a mouse button or hot key. But knowing what stock to buy and sell and when and how many shares, that's where it starts to get a bit more complicated. Also, once you really get into it, you start to see that there is so much more to it than meets the eye at first. Level 2, Volume Price Analysis (VPA), etc...I feel like for me right now, I just want to focus on learning the basics, coming up with a workable business plan and focus on the long-term. I mean, anybody could get lucky and hit a big trade and make a ton of money at once, but you could also loose a ton of money gambling this way. I want to learn a skill set that I will be able to use long-term (i.e. trade management, risking the right amount, trading a strategy/setup not just willy nilly taking trades on gut or my "instincts"-at least not at this point). If you just make a 1% return on your money each day on average, that is huge! For a $25K account that would only be $250 on average a day, but similar to compounding interest, it would become $1 million in fairly short order at that rate. That is my hope and dream, yes just a dream at this point, but I have hope. I am taking action to hopefully turn that dream into reality. What draws me to the idea of trading for a living is the freedom to not have to answer to a boss (other than the market, right lol?!), having more free time to spend with my family, having cash to do good in the world (i.e. serve and help others), and being able to be completly financially independent. If I can accomplish those goals through trading, then all the time and effort it takes to learn to trade successfully will have been worth it, even it if takes me many years. I mean think about it, imagine it takes 10 years then I finally learn to be a profitable trader. I say it would still be worth it! To me being a profitable trader means essentially the sky is the limit. If you can read the markets, you can see what direction it is going to take before it goes there, and you learn good trading habits like risk management, well, you will become a millionaire, it's just that simple. Not many people make it to millionare in their lifetimes, so even if I am 53 years old (10 years from now) before it finally all clicks and starts to come together for me, it will still be worth every cent and every bit of effort because I will then be a millionaire by the time I am 55 or 60, or whenever. The point is, if I even make it there at any age, then I am going to be doing much better than most people ever do in their entire life. Then I will be able to retire comfortably and leave my kids an inheritence, that is my vision and dream. That is what drives me to become a sucessful trader. All that being said, I am expecting and hoping to become profitable much sooner than 10 years. I am just simply saying worst case scenario, heck, even if it took my 10 freaking years, it would still be worth it lol! Anyway, enough rambling for now. This morning I am working on developing my Business Plan. I just got done wathcing the webinar by Mike B. called "Creating a Trading Business Plan" and I am now going to work on my personal Business Plan, set S.M.A.R.T. goals, etc...
  3. Thanks Karl588Roc for sharing your trade! I am still at the beginning of my trading career, so I do not have a favorite strategy yet.
  4. Hi everyone! My name is Jeremy Olson. I live in Phoenix, AZ. My wife and I have 6 beautiful kids and we love spending time as a family. The kids are great (when they are getting along haha!). I am a CPA and tax director at a large publicly held trucking company. I started out my career as a CPA at Ernst & Young in Roseville, CA back in 2006 after graduating from Arizona State University's Masters of Taxation program. I was introduced to stock trading back around Sept 2019 by a co-worker that swing trades on Robinhood. I downloaded the app and got hooked. The potential to make money in the markets fascinated me but I knew that I had (have!) a lot to learn, so I Googled "best books day trading stock" (or something like that) and found Andrew's book. Then I graduated from RH to DAS and IB. It's been quite a journey so far. I basically tried going it alone for several months. I mean, I read a lot of books and had help in that sense, but I was not in the chat room or trading with anyone else. I had some success, but really more failure than success. But somehow I managed not to blow up my account, which is a good thing! So, I am still in the game, but I have been humbled by the market and I am going back to the basics. I am going to start over and do it right this time. I just finished "Class 1: How to Trade in Simulator and Introduction to DAS" last night. I am going to go through all the classes one by one, skipping nothing. My experience so far in trading reminds me of a similar experience I had in learning to play piano. As a kid, I always loved music and would play my parents old out of tune piano in our house off and on and taught myself how to play a few songs. They were challenging songs. I didn't start simple. I just went straight for the hard songs because that is what I wanted to play. I didn't want to do the boring stuff, I just wanted to play the cool songs right away. So it was challenging, but I pushed through and got to where I could play a couple moderately challenging songs. By the time I was about 38 years old, I never really learned to read piano music very well at all so I could not sight read anything. But I could, through painstaking difficulty memorize songs note by note and learn them that way. I had about 3 or 4 moderately difficult songs that I could play on the piano (or, at least thought I could play lol!), but that was all. Then I met a guy at a church activity that is a professional pianist/performer, the guy is phenomenal, truly a creative genius. His name is William Joseph. (I included a link below to one of my favorite songs he plays on the piano so you can see what I mean.) We became friends and he agreed to give me piano lessons (I had never taken lessons prior to this, well, I think I had 4 or 5 lessons as a little kid, but never stuck with it - I was almost 100% self-taught). At the start of my first lesson, William asked me what level I felt I was at as a piano player. I told him I felt like I was not a novice, but not advanced either, somewhere in between. Then he asked me to play something for him. He was kind to me and said that was pretty good, but I think he was lying because after that he started me on my first song, "Twinkle Twinkle Little Star" lol! For reals, not an embellished version or anything, just the simple one note version, the melody only, no chords, nothing, just the melody. He wanted to take me back to the basics because everything I had taught myself to do up to that point was basically wrong, incorrect technique. I might have been hitting some of the right notes, but I was way too tense, and my fingering was all wrong, etc... He had me simply hold my hand above the keys and let it fall down on the notes and do that repetitively until I gained the muscle memory of being able to play the piano in a more relaxed way. He explained that I would never be able to progress or play very fast if I did not fix my technique and learn to loosen up. So, I had to go all the way back to Twinkle Twinkle Little Star to unlearn my bad habits and relearn new ones. I had to learn all the muscle memory the correct way, so I then had a foundation to build upon. I am now still not to the level of a concert pianist and probably never will be, but playing the piano is so much more enjoyable. Now when I play, I feel like I can make real music, not just plunk out notes. Anybody can learn to hit certain notes at certain times, but not everyone learns how to truly make music and make it come alive I relate this to learning day trading. I do not want to learn bad habits, so I am going back to the basics now and even though I feel like I know some things, I am going to be totally open and humble as I go through each one of the BBT lessons and all the webinars. I am going to keep a journal and make my playbook, etc...do everything the right way taking no short cuts. Let's see how far that will take me! There is something very familiar to me watching Andrew trade the open in the mornings. It reminds in a lot of ways of watching William play the piano, true genious at work. There is something intangible that they both have that is hard to define, but you know it when you see it. It's inspiring. Here is a link to William playing the piano so you can see for yourself how amazing he is! Here is me at my trading desk (The laptop on the far right is my work computer - been working at home since the start of Covid-19. The top right monitor is also shared with my work computer and my trading desktop computer. There is an HDMI switch, so I just hit the button on the switch and the top right monitor switches between being connected to my work computer or my desktop computer. There is also a switch to trade my keyboard and mouse between work and desktop computers, so I have just one keyboard and mouse to use for both):
  5. Quote

    Hi Jeremy - welcome to the club! Trying to figure out how to post on our AZ club...I became a lifetime member in Aug, still long way to go - plan to be on SIM for 6 months. I live in Ahwatukee, where r u?

     

    1. jeremyjohnolson

      jeremyjohnolson

      Hi!  I am in North Pheonix, 67th AVE and Happy Valley area.  I have been trading off and on for the past year, but just starting to get serious about learning to day trade.

    2. Upendra

      Upendra

      All the best! Let me know if you want to discuss anything, though I'm still at a very basic level as far as trading knowledge is concerned.

    3. jeremyjohnolson

      jeremyjohnolson

      Thanks!  Will do!  I am very busy with tax returns right now.  I am a tax director at a public company and tax returns are coming due soon.  Trying to find time to further my stock trading skills at the same time!

  6. Wed is the best day for me, but I was able to find a babysitter for Thu so if Wed doesn't work for someone else, I can make Thursday work too.
  7. My wife just reminded me she has plans Thursday night that she has been planning for a while and I need to stay home to watch the kids. If Wednesday is still an option, then I could go on Wednesday.
  8. I will be there. I am new to the forum, just joined the chatroom today. I have both of your day trading books Andrew and looking forward to meeting you!
  9. Thanks for the advice. I am sure both of you are right. But at least I thought of a good name for my suggested strategy, it's called the "George Costanza". And just like everything he ever tried he ended up failing at, I am sure the "George Costanza" is also probably a catastrophically bad trading strategy too lol!
  10. In the way of back ground, I am still a newbie to day trading, so be nice. I have only been doing it for about 5 months now. I have noticed a consistent pattern. That pattern is that I loose and I loose big every single time, without fail, when I go off the rails and just start taking trades because I think it is going to go a certain way (not based on any real strategy, just basically gut feel). Then I get angry and start over-trading and trading emotionally with too big of size, etc... So I had a thought today, the fact that I consistently (emphasis on consistently) loose when I go down that road, doesn't that mean that something other than random chance is happening here? I mean, if it was just random chance, then wouldn't I win some of the time and loose some of the time? But yet, I consistently loose big when I go crazy like that. So I was thinking, what if I just set up some hot keys that did the exact opposite of what I want them to do. When I click buy to go long, it sells to go short, or visa versa if I want to take a short position, it does the exact opposite and takes out a long position. Wouldn't it stand to reason if I did this that I would then consistently win every time? I mean, I would have to trade like I was really trying to win and really trying to go long, like I really think it is going to go up, I mean really and truly, but then I just go against my gut and take out a short position just when I think it is about to explode to the up side. Of course I would know that I was going to take a short position, but I can't think that way, I would have to truly trade against myself. Today in my training account I started over trading and taking too large of positions to try to "win back" my losses, etc...and of course I ended the day with a $5.5K loss (in my training account). Had I take the opposite of every position, then I would have made about $2.8K - not exactly $5.5K because of commissions, but still, I would have ended green. Is it really that simple? Just trade against myself and all of a sudden the looser becomes a winner???
  11. You make a good point, I didn't think about that if I had open positions it would definitely be more obvious which account I was in. The problem in my case is I have no open positions at the beginning of the day so literally the only difference between being in my training account versus real is the little account drop down selection window which is easy to miss if you forget to check. Makes me think, maybe I should buy like 1 share of a few different companies just so I have some open positions, could be a work around to make it more obvious which account I am in.
  12. I could see this being a very useful feature, even more so when it happens the other way around. Imagine you think you are trading in your training account but are accidentally in your real account, that could be catastrophic! I mean, sometimes when I am in my training account I just want to see if hotkeys are executing properly and I could care less if I "make money" on the fake trade or not. Imagine I took a huge loss then realized, holy &%^$ I was in my real account &^%$!!!! Haha, I pray that never happens!
  13. Thanks Abiel for the response. I do know how to change between the live and training account. I already have my live account set as default. I am just wondering if there is a feature in DAS to make something change that is visually noticeable depending on which account I have selected. This is probably not a feature available in DAS, but I just thought I would ask. This morning I was trying out some new hot keys in my training account and I forgot to switch it back, my bad. Maybe it would be something worth bringing up to DAS to add as a feature, so say I am in my training account, then the background is all a different color or shade as compared to when I am in my live account. That way, I would not be able to accidentally trade in the wrong account, or at least it would be a lot more difficult to accidentally make that mistake.
  14. So today I took a trade on LLIT based on the fallen angel strategy. It is a low float stock with news that was gapping up in the pre-market, then sold off at the open and found support and continued to trade on really high relative volume. Then I did a great job and got in at just the right time when the 1 min and 5 min candles were going up on increased volume. I sold quickly after the pop for a quick $850 in profit...then I realized I was trading in my training account! I thought I was in my real account, but apparently I forgot to check, oops. I am using DAS trader pro. Does anyone have any tips on how to make sure this doesn't happen in the future, other than just being sure I check first. Is there a way to make it more dummy proof like automatically change the color of the background or something based on which account you are in, or some other cool tip like that to make it more dummy proof (because I was definitely a dummy this morning!!)?
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