Overcoming Trading Challenges

[00:00:03.18] - Speaker 1
Good afternoon everyone. Welcome back. If you were at the previous session a few minutes ago, thank you again for joining.

[00:00:11.20] - Speaker 2
We are not live at the moment.

[00:00:13.16] - Speaker 1
We're live.

[00:00:14.05] - Speaker 2
We are live.

[00:00:14.22] - Speaker 1
Yeah, we're live.

[00:00:16.17] - Speaker 2
Okay, cool.

[00:00:18.10] - Speaker 1
So thank you everyone as always. Send us a comment if you can hear us. We just had the really nice session on Nvidia. If you guys missed it, you can find it on our YouTube channel on under the live stream was a pretty good one. We had Steve, Patrick and Tim, good comments on the macro side, looking at the earnings, looking at the levels. But this session really is focused on challenges. Maybe Patrick, you can share a lot of information about your experience. But before we get started, as always, few minutes.

[00:01:09.05] - Speaker 2
Right.

[00:01:09.19] - Speaker 1
Welcome everyone.

[00:01:11.29] - Speaker 2
So yeah, welcome back, Tim. So thank you that you'll be here. Today is the session about what holds you back. And also we get some question in the live because before in the Nvidia earnings call there was a question from how long it was taking that you'll be profitable. And he was writing for me, it was. I was needing nine months. That's okay. Personally, when someone asking this question how long it takes to become profitable. My. My first one signal is hey, why you asking me this question? Because every trader is individual. Do you want us for for example Kobe Bryant how long it was taking that you be an NBA player? He will tell you 18 years because he was born and then he is there. So he was playing basketball since six years. Okay. To be fair, let's say it was less than 18 years. But it was more than 10 years differently. So for this reason never asked some questions like how long it was taking to become profitable. I. I like it more to. To have this. The session like to say okay, what it needs to become profitable. So a little bit the mind shift if you be at the moment not profitable, what it needs to become profitable.

[00:02:37.26] - Speaker 2
And, and here's one point what I can share with you. Before I was starting trading, I was, I was, I was using my money. So for my parents, so I get the money for the car and all this. But I was put this in, in the trading market I was lost everything. So in this stage there was something where many people were saying oh, now I'm in trouble. I lose the money for my, for my parents and, and all the. And they will never trade anymore. So that, that's the, that's the lesson number one. So you have to understand if you come into the trading, this is a university so you will have to pay the price if you be a professional basketball player, for example NBA player. They was paying the price. They was, they was there every, every single day. They was trained. They was lost his childhood because I was on the, on the court every single day. And in the same world if you be a professional lawyer, if you be in pilot so or if you be a doctor. They was investing something. They was going to the university many years there was a junior doctor, junior lawyer and all this, all the.

[00:04:01.14] - Speaker 2
Until they came to the. To the big world. And this is something in trading exactly the same. So we have to learn if we lose money like what I did. I was losing 10, 10,000 US dollars for example. But this was my, my price what I was paid. So this was my first university fee for, for the training board. And this is something 90 of the people they will give up on this stage. They will never come back. They would say hey, trading is gambling. I know it. I was ruined my life. Everything I give, you know, advice never trade. But they are only 10% were making the next step. We'll say okay, what can I learn? What was the investing? So I was losing now 10k. And then the mind shift of an. Of a more professional trader starts. As he says to himself, I was paying now US$10,000. So what was my learning? What was worthy to lose 10k and what he's doing. He start to look into the trades. He start to see okay what I was missing and all this stuff. So he requests every question why I was doing this.

[00:05:18.21] - Speaker 2
Did I was. Was under pressure that I was looking for the money and I was not understanding that money is the product. I was connecting with my private life and all this stuff. So he makes the first mind shift and then he stay in the game. And he's only 10 will stay in the game after a huge loss. And I will promise you after I was losing this I. I was going to the bank. I asked him the banks for credit so can I have a credit? And, and she. And. And he asked me hey, why you need to credit? I said I won't trade, I have no money so I won't start again. He said now you cannot have a bank credit for trading. And I say oh, what should I do? And then he say okay, please wait for me after I be done. Maybe I have an idea for you. And then I was waiting, the bank was closed. The guy was coming from the bank and he said okay, I like your spirit, I like your emotion. I like what you're doing, what how you was presenting that you need to create it.

[00:06:25.29] - Speaker 2
And I want to ask you how long you trade? I was saying, I don't know, six weeks. You say ah, are you crazy? Six weeks. And I say okay, maybe I know someone who can help you. And this was my first investor. So he, he makes contacts for me to a first investor. So I was able to. To trade some money for. For other people. So but he was executed trades. So I was learning from someone. This was also some mental session. So. And this is the second step. So if he was taking your first losses, you must understand so you cannot win the trading game alone. You need a team around you. Otherwise you will making again again the mistakes. What could be the team. So the team could be have a great mentor on your side, have someone who's more experienced than you were going through all the steps. Or maybe have a mentor queue community where we have experienced traders, where we have other peoples who are long term in the game. So for this reason, the second step, what you have to understand have always begun a team around you. If you have a team around you, they will support you.

[00:07:42.26] - Speaker 2
They will say what you was doing wrong. They will always say what you're doing good. And that, that's the one what helps me. But then I. I was making again a mistake. I was making good money from investors money when I was taking profits when I get my profit splits, something like this. But what I was doing, I was using the money to trade my private account again. And then I was blowing up because I was losing the guidance before the. The guy was guiding me. He was saying, okay, you have to do this, you have to look for this, you have to do this. And then the guy was on holidays for, for three months. And I was immediately going funded my, my personal account. I was blowing up this account directly because I was losing the connection. I was losing the guidance. If I'm. If I be alone, boom. I was losing this. And then I was paying a big fee. So the big fee was I was losing the connection with my parents. So they don't want me. They are Germans. They were saying always hey Patrick, you are gambler. We don't want something in our family or gambler.

[00:08:54.02] - Speaker 2
And then I was three months homeless. I was living in my car. I have to wait until the guy came back where I was trading with the investor. I was not saying to them that I was blowing up my accounts, that I was three months homeless, that I was living in my car. I have no idea what I should do. I have really nothing at my end. But I go back to them, to the guy I was saying, hey, he was asking me, hey Patrick, what you was doing the last few months? I was saying I was enjoying the time. I was thinking about what he was teaching me. I was in the holidays, I was never saying anything to him. And then he said, okay, good, then you're ready for the next step. He said, yeah, 100. And then he gave me the connection to some other guys. But I have the next money. And this is now the third lesson for you if you be in the game. So first you will lose money. If you lose money and this hurts you, you need a team around you, will support you, who brings you on the, on the street, will push you forward.

[00:09:56.26] - Speaker 2
We have this, you have to mentor Q community. And the third one is you need money, but don't invest ever, ever your own money in the market. This would be my, my next advice until you prove yourself for one or two years that you be profitable, never use your own money. So we live now in a good world. So how you can have money that gives enough opportunities? We have problems, we have really seriously problems. And then you can go for them. We have also investors who are looking for you. If you be a good trader, you can, you can send them your track record and all this stuff as example collective to say looking always for good traders. This is a trader marketplaces. This is an Amazon for traders only as example. No advertising by the way, but never use your own money. Don't use it. Take your money for living because that's, that's the number three if you're trading your own money most of the time. And here's an example one, one of our people in the community was sending me today a message. He was saying me, hey Patrick, today I was making a huge drawdown and, and I don't feel good.

[00:11:19.01] - Speaker 2
And I say, hey, what was wrong? And before he can give me the answer, I asked him, hey, do you have pressure? Do you feel stressful? Is something going on in your family? What's happened? And he say, yeah, there's something happened in my family. I will not go into details. And I say, hey Sham. So every time when you trade your own money and something has happened in your family outside of the trading world, you feel the pressure and then you make mistakes and at the end you will lose again, everything. But if you trade with prop firms, if you trade with other money's capital, if you trade with investors, they making sure that you follow the plan. They have a risk manager who taking advantage of you, they have a team around you will support you, they have own mentors who teaching you? Who guiding you? If you take it seriously, you were going through the steps. And also how long is this taking? So from first losing their own money, paying the price, go again, have a big pain. Like what? Mia was three months, homeless, living in the car. And then third, I was trading the other people's money.

[00:12:36.01] - Speaker 2
So this was taking me maybe four years, five years, but this was worth. So I was after the school, I was quitting the school and I was saying, I won't be the CEO of a big bank I want to see of a hedge fund manager. I was never going in any other school, Nothing, only trading. Trading was in my game. So like a soccer player, NBA player, he wants to be a professional athlete. And this was also in me because I know there are only three places where you can make money. The first one is trading business and the other one is drug business. But this doesn't work because it's, it's, it's not, not supported from the government. And also it's, it's a big, you don't want it. So you will not blow up the money. You will, this will kill your luck. And the third one is, I don't will speak about this. So, and then we're making the choice. So the financial one is really the one who I have. So. And this is something what I was learning and this is something what I want to share with you. So if you won't be the 1% on the world who won't become consistently profitable, you have to go through pain.

[00:13:44.29] - Speaker 2
And if you stand up and you can say, okay, I will lose something. Are you ready to lose something? Then this is your way. Then this is your way how you become consistently profitable. You must be ready to lose something. Maybe you lose the connection with your friends, maybe you lose the connection with your family. Maybe you lose huge of money. Maybe you, you lose your own personality, but you will lose something. There's no way without pain, no way without pain to become consistently profitable. And I hope this was a 15 minute single speech. I hope he was taking out some gold nuggets. And now let's look into your questions.

[00:14:29.22] - Speaker 1
Can I ask a question, Patrick?

[00:14:31.10] - Speaker 2
Yeah, let's go.

[00:14:32.14] - Speaker 1
What was the moment in your career that was really a game changer? Like, I mean every trader goes through a time where you make money and you have emotions and then you lose money and you have fear. So you're always in that stage where you're always on like a sideways kind of like path, right? But there is a moment in a trader's career where suddenly you hit the home run and then your, your performance, your truck record kind of goes skyrocketing and you start having like huge returns, making less mistakes, having more like kind of like profitability. So what was it? What was this for you? Like what was the game changer of your career similar to an NBA player where you get signed by a massive team? What was moment for you?

[00:15:22.21] - Speaker 2
Okay, so, so my, my really, my really game changer was never any trading event. So my, my biggest game changer was. And I have this every day. So and, and be sorry for everyone who's maybe a cashier. So this is nothing about you. This is only some example. So please don't me so but every time when I going in a shopping mall or something like this and I see a cash, we'll get maybe US$15 or US$20 as hourly salary if they be really good, I don't know. But they stay there 12 hours, 10 hours, 8 hours a day for little tiny small money. So we're speaking about US$20 and they pay taxes and all the. And I was saying to myself, I will never ever doing this before I was doing this, I will shut me in the face or I will, I will die. But this is something what I never want to. And this was giving me so much power that I was focused on everything. I was focused on discipline. So I won't become disciplined. I don't. I, I was, I was 100 focused that I won't be in the market because I was saying I was three months homeless.

[00:16:45.03] - Speaker 2
I will never be the cashier there. When I was doing this, I would give me the, the gun and I will die. So this was my main, my main motivation to say, okay, I, I must, this is, I must, I must have discipline. I must be focused. I must be reduced the noises. And if you're asking what was the tippet point where I was making huge money? The huge money tipping point was when I was really connected with the hedge funds, when I was in this stage that I was respected from hedge fund managers. And hedge fund managers came to me and asked me, hey Patrick, can you trade for us? Can you help us? And I say, yeah, why not? And then I was understanding the mindset from the institutionals. So one example was, Patrick, you have a win rate from 90. If you won't be in our world, in the institutional world, we will kill you. You will die if you haven't run rate for 90%. We want a win rate from less than 10% because we won't see that you will cut your losses very fast. You need maybe only one good trade.

[00:18:02.10] - Speaker 2
And then this one good trade will cut out all your losses into making huge profits. And this was something what I was really learning. This was my tipping point to understand that all the statistics what is in the trading journals like win rate, risk reward, I don't know all the other that this have nothing to do. This has nothing to do. What they really want to see is that you cut your losses fast. That you have small losses and if you be in a winning strike also take sometimes profit. So that you. That you handle your losses, that you become break even. But there will be an event in the market and this will show up every freaking month or twice a week. And then take the big candle, take the big push and boom. This brings you so big in profit. And then you become the best trader of the world. And if I was following some advice from disguise and I was more understanding how the institutional working. This was my tipping point. But you can have this also you can have some advices advice like this what I was having. Because now we know we are in the community.

[00:19:14.29] - Speaker 2
We are in a mentor Q community. There are so many great guys. I'm reading this every time. Sorry my friends, but I'm retired now. I'm not comment everything what I'm seeing. But what I see is a really good one. It's a good healthy one. They are good traders who are making everyday profits. A reasonable profits. The sharing has setups and us. Ask the good one. Ask the good traders. Hey, what, what? What was the reason why he was taking the train? What I was not seeing what you were seeing. Take the communication. And this is, this is the number one in training. We must be, we must be communicate to each other. We must be understand. We have to learn as a trader. This is the best business ever in the world. As I give you an example, the cashier. Sorry, but don't, don't, don't me. But as a cashier you. You learn maybe three years something like about sales, but that's it. So then maybe you will learn something about your products. That's it, that's nothing. But in the trading world you learn every day some new stuff. You learn more about the economic, you learn about politics.

[00:20:25.19] - Speaker 2
You learn about the world, how it's going. The world is changing so hard, so fast. You're learning about options. You're learning about futures, learning about stocks. You're learning about implant volatility. You're learning about gammas. Bam, bam, bam, bam. Bam. It's so crazy. And then don't forget we have to learn about psychology. We have to learn about mindset. We'll be getting master in everything. And, and I and I have no idea from other jobs who were having like this. So. And this is why you have to be communicate. You have to be communicate with each other. Hey, what was your lesson today? Can you show me your big lesson for today? What you was learning today. And, and much better. So we have the community and mental Q champs. Look for a trading body, look for a trading group. If you feel like there are some someone who have the same mindset than you ask them. Hey, are you interested to work with me together that we have trade together? Maybe we have zoom calls together. We share our trades man become accountability to each other. This is something also a tippet point. He was asking me have to be accountability.

[00:21:35.03] - Speaker 2
And, and also when I was trading with investors, I was accountability every single day. I was reporting my trades every single day. Not every month, not every quarter, every single day. And why? Because I need accountability. I need accountability. I must have some feedback from the, from other, other investors that they say hey Patrick, you was doing well. This is something what we appreciate. They also escalate something sometimes when say what the was going on, why you was holding the trade. I don't understand this. So you need this. You need accountability. You need a trading body, you need a strong community. And much more important, you need a healthy family. You need healthy money. So and, and, and sorry my friends, but if you have money issues in your private life or do you have other issues like. Yeah, like health issues or something like this, do me a favor. Stop trading. Stop trading until you fix something. So this is nothing, nothing. Nothing bad for me. But you can, you can trade paper money. You can go to the problem, take a problem, but stop trading. And don't use own money because only one with one single reason because you are not focused.

[00:23:02.17] - Speaker 2
If you have money problems and you lose money, you're freaking out. Your mind is freaking out. And then you blow up your accounts. You're making more mistake. Don't do it. If you have feel any pressure, don't do it. Stop trading. All right. Any other questions, my friend?

[00:23:24.27] - Speaker 1
It was a good one. Thank you, Patrick. Let's see if we have any questions.

[00:23:35.19] - Speaker 2
I love this question. Levels included in the basic subscription for those who can afford the premiums right now for futures. Yes, good question in session like this. But 100 and please you use the coupon coupon code level 25. We will share this with you also, our live 25, man. I have only the blind spot. So. Yeah, live 25. So then you get 25 discount, so then you can save something else. Yeah. And also Navid. Yeah. Oh, wow. Yeah. Thank you. Yeah. I'd be really open with you. So this was something where I'm going through. Everyone goes through pain. So I'm. And now 100 sure. You as a trader, if you're really open, you. You can. You can tell the same story, maybe different, but you will tell the same story. You was going through pain. 100%. And Reiner. Yeah. You learned the value of money, sir. Yes. 100%.

[00:24:47.26] - Speaker 1
All right.

[00:24:49.14] - Speaker 2
Yes.

[00:24:49.26] - Speaker 1
I mean, I hope this was helpful for you guys to. I mean, your story is kind of remarkable, I think, Patrick, like, you know, starting from scratch, like, going through the pain, learning the art lessons, you know, having trouble obviously, with your family for those three months and then obviously having.

[00:25:11.27] - Speaker 2
The motivation three months for everything. So I have no connection anymore with my. No, no, no, no, no. Wow. So this is something. You have to lose something. So. But. But for me, it's okay.

[00:25:24.21] - Speaker 1
Okay.

[00:25:27.01] - Speaker 2
Wow. So I have other family, so I have kids. I live now in Dubai. I have mentor Q. I have Steve. I have also my buddies around me. That's family.

[00:25:37.23] - Speaker 1
Yeah, absolutely.

[00:25:41.25] - Speaker 2
My wife had at me for a while when I lost 80k lolia, but she came around mostly.

[00:25:48.12] - Speaker 1
That's good. It's good to have. Thank you, Navid, for sharing.

[00:25:54.08] - Speaker 2
No, Yeah. Every. Every professional trainer goes through pain. Everyone. Everyone. Yeah. There's no one who goes, not truth pain. And also if you be in the business. So for me, Elon Musk is one of the biggest. Yeah. Biggest, biggest guy in the world. So look, look his work eating. So. So from. From. From PayPal to Tesla, he going through so hard pain also. It's not coming like that. He's the billionaire. He's the richest man in the world. No, man. There's a story behind. He was going through big pain. And this is the same. Everyone has to go into this pain to become successful. But the people asking always, hey, how long it takes to become successful? Yeah. I tell them 10 years, and they say, oh, oh, no, sorry, I have no interest.

[00:26:52.20] - Speaker 1
Yeah, yeah. I mean, it's. I think also, like, especially, like in the past few years, I think trading has become so easy for everyone to kind of like start trading. But I think the biggest problem is that people don't want to learn. So they want to, like, obviously have quick profit, quick money. They make quick money. And Then they, they think that they can just continue doing that. But the problem is that the reality is that if you don't learn, if you don't invest in your, in yourself, in your like psychology, in, you know, the data that you use in the, you know, the courses that you buy or whatever that might be, the books that you read, it's going to be challenging. You know, the market is, it's not going to give you anything for free. You know, you need to work for it. You know, it's tough.

[00:27:45.14] - Speaker 2
Yeah, yeah, yeah, yeah. Now you're right. Understanding that trading is the hardest profession in the world was the big mindset shift because you're competing against the smart people in the world.

[00:28:01.05] - Speaker 1
Yeah.

[00:28:04.04] - Speaker 2
And do you know Navid? What, what always motivate me. Can I say this? Yeah, I can say this here. So I was really love to see all the criminal stuff like narcos movies from Pablo Escobar and all this stuff. So. Because they're going also through hard pain. So and, and this was always what, what they motivate me so not, not what they was doing. So they're doing really big. I was never supporting this but how they was thinking how they was building the business, how, how they was doing every crazy thing like this, this was also a crazy mind shift for me to think about. Hey, trading is a business. So the market makers are now my enemy. So how I should be react. Boom, boom, boom, boom, boom. And also watch every single day YouTube videos, motivational videos like I don't know, there are many, many good, good stuff outside but watch this every day. So Eric Thomas was someone for me who motivates me every single morning. I was listening to his stories every single morning. He was motivating me before I was trading. Someone is doing meditation. No, I was using really hard motivation stuff to when they, when they're giving you a kick ass and all the stuff.

[00:29:29.09] - Speaker 2
Yeah.

[00:29:32.15] - Speaker 1
This one is great. Thank you. We really, really appreciate that. This is great, great feedback. Thank you for joining us. Thank you for taking the time and we really hope we can help you and look forward seeing you. Please reach out to us.

[00:29:47.11] - Speaker 2
Yeah. And, and Gladiator, I'm highly appreciated and here's also our advice for me for you. So if you came new in our community, you will see how friendly, how supportive we are. So many people are also there because of our community. So they love what we're doing with mentor Q. They love also our community, they love also our academy. But how you can take out the most out from our community if you enter the community, say something about you say hey, my name is, I'm from and I'm love to be here to share with you something, become active, be a part of the community, share something. And then you will get also something back and you will see we are really friendly, we are really supportive. We have also nice support guys. They answering really quick and fast. Amazing. 24 hours a day, always. Yeah. All right.

[00:30:53.24] - Speaker 1
I think this was a great session. We had four lives today.

[00:30:59.21] - Speaker 2
Three lives.

[00:31:00.13] - Speaker 1
Four lives.

[00:31:01.01] - Speaker 2
Three lives. Yeah.

[00:31:03.29] - Speaker 1
So again guys, thank you for taking time. I know Patrick is late for you. You are in Europe so it's almost midnight.

[00:31:12.17] - Speaker 2
So next week I'm in Russia three.

[00:31:14.18] - Speaker 1
Hours forward, even even later.

[00:31:18.29] - Speaker 2
Yeah. Nice.

[00:31:19.25] - Speaker 1
If you guys want to reach out to us, this is our website, mentor Q.com please send us an email if you have any questions on the data, the models, anything that you you have queries about. We have a support team and again for watching live, if you guys want to join, please use the coupon code LIVE25. You get 25% discount on all our membership. Again, thank you so much for watching and we're going to see each other again tomorrow.

[00:31:51.08] - Speaker 2
Yeah. And one last word before we close the live. I was learning something from Kobe Bryant and Kobe Bryant was saying something. Never rest in the middle, rest always at the end. And remember friends, today is only Wednesday. It's not weekend. Never rest in the middle, rest at the end. So for this reason we see us tomorrow again in a crazy new live session. I think we trading with mentor Q. Take your first trade with Mentor Q. We will start 9:30am Eastern Time. Where we going Truth? To levels. We looking in how they was performing in the market. Open something. What was we doing with Nvidia where we was showing you how the high wall levels was working perfectly. But tomorrow is a new day and never rest in the middle west at the end. So happy day and we see us tomorrow, my friends.

[00:32:43.14] - Speaker 1
Bye everyone.

[00:32:44.16] - Speaker 2
Bye bye. Bye Bye.