#007: Ted Posobiec from WINvesting

EP 007
The Traderview Episode 007 - Ted Posobiec - WINvesting

Download The Podcast
(right-click and "Save as...")

Download The Director's Cut
(right-click and "Save as...")


Table of Contents


spacer40

Listen to the Show on iTunes

Back to Top


spacer40

Stream the Director's Cut
FULL VERSION (00:59:26)


Back to Top


spacer40

Show Notes

Introduction

Q: Tell us about your background.

  • Ted has an Army background and after that became a commercial diverin the oilindustry!

Q: Who or what inspired you to become a trader?

  • Ted began trading oil-related stocks while working in the oil industry
  • When Ted left the diving profession, he was looking for something that could provide him with comparable pay

Q: Do you remember your first big winning trade? What did you do with the money?

  • Ted’s first big winning trade came after attending a trading bootcamp using the strategies he learned at the bootcamp
  • His purchase was a Harley!

Q: At what point did trading become your primary source of income?

  • It took about a year and a half for trading to become Ted’s primary source of income

Q: What does a typical day look like for you? 

  • Ted starts his day taking care of the necessities so there are no distractions before he gets ready to trade

Q: What markets do you trade and why?

  • Ted will trade any market, but he does have some preferences

Q: What is your favorite trading strategy in today's market?

  • Ted doesn’t have a favorite strategy; he likes a lot of different ones

Q: What is different about your approach compared to other traders?

  • Ted trades what he sees and not what he feels

Q: How does your strategy differ for generating income versus building wealth?

  • Ted would use ETFs or stocks for building wealth

Q: How would you trade a $5,000 account differently than a $50,000 account?

  • There is only one difference in the way Ted would trade a $50K account versus a $5K account

Q: How do you limit risk?

  • Ted sets a limit that he can and will trade per day

Q: What trading platform do you use primarily?

  • Ted uses the same platform today that he started out using

Q: Which indicator could you not live without?

  • Ted can’t live without the Volume Indicator!

Q: Do you have a written trading plan that you reference every day?

  • Yes, although it is smaller now than it used to be
  • Ted’s trading plan helps to keep him focused

Q: Do you keep a trading journal?

  • Ted writes in his trading journal every day
  • The trading journal helps to keep track of emotions and performance so he can review these things when he starts to see patterns emerging

Q: What do you like most about trading and what do you like the least?

  • The freedom is the best part about trading
  • The downside of trading is that it can get pretty boring, according to Ted

Q: Was there a specific turning point where you went from consistently losing money to being consistently profitable?

  • Ted was shadow trading to start with, which made it easy to lose money
  • Finding a mentor who taught Ted the right way to trade helped him to become profitable

Q: What was your best month as a trader? Your worst month?

  • Ted’s worst month was in the negative, but his favorite was in the high $20K profit range

Q: If you could go back in time, what advice would you give to your 20-year-old self?

  • Be patient!

Q: How do you measure success in life?

  • Happiness and freedom are good indicators of success for Ted

Q: What have you had to sacrifice to get where you are today?

  • There is one major thing that Ted feels he has sacrificed over his career

Q: If you could do it all over again, is there anything that you would have done differently?

  • If he could do it all over again, Ted would spend more time with his family and start trading sooner!

Q. What is your biggest challenge as a trader?

  • Ted’s biggest challenge is feeling like he needs to take a trade

Q: What is the biggest difference between successful traders and unsuccessful traders?

  • It all comes down to discipline

Q: What is the most important piece of advice you’d give to a new trader?

  • Be patient!

Q: How has your mindset evolved over time?

  • Learning to get into the right mindset–free of distractions–has been critical for Ted

Q: How should someone handle losing streaks?

  • If Ted loses for more than 3 days in a row, he will go into sim mode and review his trading journal to find the problem

Audience Q+A

Q: Do you have any books to recommend?

  • Anything by Mark Douglas (Trading in the Zone and The Disciplined Trader)

Q: What would be a good instrument for beginner futures traders to begin with?

  • ES, NQ, but definitely not CL

Q: If I were to work full time, how long would it take to get income from a $10K account?

  • This varies from person-to-person

Q: What does trading OPM entail? Does it increase focus and expedite the learning curve to where I could be earning income faster?

  • Trading OPM holds you accountable so it could help you to become a better trader

Q: Do all markets have to be traded according to the Eastern time zone or is there something that can be traded within Pacific business hours?

  • The London Open or the Asian Open are good markets to trade on the west coast

Q: How can you execute a proper stop loss and what is your criteria to assign a sound stop loss?

  • Ted’s stop loss reflects the account he is trading, up to a 15 tick stop

Q: Are most futures markets open 24/7 for day trading or only during open US market hours and will the margin be different either way?

  • The market is not open 24 hours, but Ted does not trade past 4pm ET

Q: Who are the traders that you look up to and follow?

  • John Ondercin of WINvesting and some of the guys that currently trade with Ted in his room

Q: If you had the power to make something required reading for every high school senior in the world, what would that be?

  • The Balloon Buster: Frank Luke of Arizonaand anything by Mark Douglas

Q: What is the next step in your evolution as a trader?

  • Retirement!

Q: What is the best way to get in touch with you?

  • Join Ted in his trading room at WINvesting.com or email him at support@WINvesting.com

Closing

Back to Top


spacer40

Tweetables

“I’ll trade anything that moves.”

Click to Tweet

“Be patient. Start from the beginning, and work your way up.”

Click to Tweet

“A successful trader follows his own rules.”

Click to Tweet

“Take it slow. Learn it one step at a time.”

Click to Tweet

“If you learn one thing a day over 30 days, you’ll have learned 30 new things.”

Click to Tweet

Back to Top


spacer40

3 Action Steps

  1. Start from the beginning
  2. Write out a trade plan that makes sense to you
  3. Manage risk

Back to Top


spacer40

How to Get More Free Training from Ted Posobiec

Get More Free Training from Ted Posobiec: WINvesting.com/#winners

Back to Top


spacer40

Resources and Links

Back to Top


spacer40

About Ted Posobiec

Ted Posobiec is the host of the "E-Mini Insider" daily trading room at WINvesting.com.Ted was a stock trader for over 18 years, and started trading E-mini futures five years ago. For the past three years, his "full time" job has been day trading ("full time"meaning about 1-2 hours a day on average). He trades several different systems and styles, and likes to help others find what works best for them.

Back to Top


spacer40

Help Us Out (Review and Share)

If you had just ONE "a-ha" moment during this podcast, or got at least one good resource out of it, please help us spread the word by sharing this page via your favorite social media account, and by giving us an honest review on iTunes. It only takes 30 seconds and you'll be helping out fellow traders and creating all sorts of good karma. Click one of the buttons below to share this podcast.Then CLICK HERE for instructions on how to leave a review on iTunes.  We'd love a 5-star review, but only if you really mean it -- it's important that your review is completely honest. Thanks for helping us spread the word!

Back to Top


spacer40

Get Access to Our LIVE Trading Room

Watch "over the shoulder" of a professional trader (via webinar) as he trades LIVE in the markets, calling out trades well in advance so you can follow along in simulation and dramatically accelerate your progress toward your goals.

Get your questions answered, learn good money-management skills, and see the orders placed on the chart well before trades happens.

Most importantly, get personalized feedback on how to overcome the obstacles that have held you back so far in your trading career.

And it's all included when you join the WINNER'S Circle Membership at WINvesting.

Sign up Today (click for details)

Back to Top


spacer40

Listen to and Download the Podcast
SHORT VERSION (00:50:35)

Download The Podcast(right-click and "Save as...")

 

Download The Director's Cut(right-click and "Save as...")

 

 

Send this to friend