Table of Contents
- Listen to the Show on iTunes
- Stream the Director's Cut (FULL VERSION) Topic-by-Topic
- Show Notes
- 3 Action Steps
- How to Get More Free Training from John Hoagland
- Resources and Links
- About John Hoagland
- Help Us Out (Review and Share)
- Get Free Access to Our LIVE Trading Room
- Listen to and Download the Podcast (EDITED)
Listen to the Show on iTunes
Stream the Director's Cut
FULL VERSION (01:02:37)
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Q: Tell us about your background.
- John is a third-generation trader!
Q: Do you remember your first big winning trade? What did you do with the money?
- His first big trade was the biggest trade he ever made.
- What did he do with it? He gave half, and went back to trading the next day
Q: At what point did trading become your primary source of income?
- John traded and worked a second job from 1983 until he quit his second job in 1992.
Q: What does a typical day look like for you?
- John’s typical day starts at 5 a.m. to catch the train to the office.
- John looks for opportunities and takes calls from others, trades throughout the day and works on educational opportunities for other traders.
Q: What markets do you trade and why?
- John trades the S&Ps, although it’s difficult to read on screen. Recently, he has expanded to crude oil and gold.
Q: What is your favorite trading strategy in today’s market?
- Market profile and market state trader as well as volume profile
Q: What is different about your approach compared to other traders?
- No two traders will look at the market the same, but the difference comes with emotion, psychological makeup and skills
Q: How does your strategy differ for generating income versus building wealth?
- When building wealth more about balancing different asset classes.
- John considers trading for income and investment.
Q: How would you trade a $5,000 account differently than a $50,000 account?
- John would be trading more contracts and looking for bigger swings in the markets.
Q: How do you limit risk?
- John manages risk by limited the amount of money in his account
Q: What trading platform do you use primarily?
- John likes the CTST 4 platform the most as he learned on that, but he also likes NinjaTrader, Sierra Charts and Jigsaw
Q: Which indicator could you not live without?
- John doesn’t use many indicators
Q: Do you keep a trading plan and trading journal?
- Yes, your trading journal is your business plan!
- Read, review and repeat
Q: What do you like most about trading and what do you like the least?
- John likes the feeling he gets when he is right about a trade!
Q: Was there a specific turning point where you went from consistently losing money to being consistently profitable?
- John was struggling in the S&P and a friend brought him a book and told him to hide it and read the first 100 pages the book.
Q: What was your best month as a trader? Your worst month?
- First month as proprietary trader was John’s worst month
Q: Do you have a favorite story about how your success in the market allowed you to impact the lives of others?
- John’s kids and wife has been positively impacted
- Seeing people he’s advised over the years achieve success makes John happy
Q: If you could go back in time, what advice would you give to your 20-year-old self?
- Buy Microsoft, Apple and Starbucks stocks and stay in art school.
- Have no fear
Q: How do you measure success in life?
- Passion, positive impact on others and whether you’re tired at the end of every day
Q: What have you had to sacrifice to get where you are today?
- John has sacrificed the pigment in and presence of hair!
Q: If you could do it all over again, is there anything that you would have done differently?
- No, he would have not done anything differently unless there is an opportunity to have more of a positive effect on people
Q: What is your biggest challenge as a trader?
- John’s biggest challenge was moving from pit to screen because he had to unlearn the pit to positively respond to the screen
Q: What is the biggest difference between successful traders and unsuccessful traders?
- The biggest differences are planning and risk management
Q: If you had one important piece of advice to give to a new trader what would it be?
- Do not trade your own money
- Learn to trade on a simulator
Q: How has your mindset evolved over time?
- John has learned to act the opposite of his emotions
Q: How should someone handle losing streaks?
- John likes to break both types of streaks, winning and losing
- Winning and losing streaks will lead you to make emotional decisions
- Take a day off
Q: What percentage of individuals that start in a trading combine achieve a funded account?
- A: How does that help you? This is your journey and they are all different.
Q: Who are your biggest trading influences today?
- A: John’s biggest influences are the people that taught him his skills.
Q: What is the best way to find a mentor?
- A: At Top Step, you get a complimentary mentor. From other sources, mentors can be very expensive so vet them extensively. You can also self-mentor, and John tells you how.
Q: I have heard you might start a live trade room within TopStepTrader, is that true?
- A: You never know!
Q: What is the process to join the TopStepTrader combine and what does it cost?
- A: Visit TopStepTrader.com to find out!
Q: If you had the power to make something required reading for every high school senior in the world, what would that be?
- A: Deep Survival by Laurence Gonzales
Q: What is the next step in your evolution as a trader?
- A: John’s path works for him, so he will continue this way
Q: What is the best way to get in touch with you?
- Traderview Episode 008 - Show Notes
3 Action Steps
- Increase market knowledge constantly
- Increase self-knowledge constantly
- Think: risk first
How to Get More Free Training from John Hoagland
Get More Free Training from Ted Posobiec: WINvesting.com/#winners
Resources and Links
- Ninja Trader - https://www.tradingview.com
- Top Step Trader - https://www.topsteptrader.com
- Mind Over Market by James Dalton https://www.amazon.com/Mind-Over-Markets-Generated-Information/dp/1118531736
- Deep Survival by Laurence Gonzales https://www.amazon.com/Deep-Survival-Who-Lives-Dies/dp/0393353710
About John Hoagland
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Listen to and Download the Podcast
SHORT VERSION (00:46:55)