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Chasing the Dream

We’re all chasing the same thing — financial freedom, and the ability to make money wherever you are with cash and an internet connection. This is what drove me to Simpler Trading to begin with. And, it’s (more than likely) what’s driving you now. It’s the pot of gold at the end of the rainbow… the sunshine after a storm.

Today wraps up the last day of our in-person, Austin Mentorship. As we near the end of this event, I reflect back on the reason I‘m here to begin with — along with the reason why everyone else decided to be here.

So in tune with reflection, below I’ve compiled my top five steps to success…

I’ve spent the last four days talking to some of the most dedicated traders within our community. I’ve been asked a variety of questions… but in reality, many of them were the same, with slight differences.

Most people want to know how I’ve managed to end up teaching you here today. Running trading room sessions, creating classes, videos — everything that I do as one of the key members of the Simpler Trading team — along with my public appearances and now 5 ½ year old.

On one hand, it’s surreal — but on the other hand, it’s pretty simple. I had a mentor (more than one). My trading career started by listening to some advice from my dad, to join him in trading options. That lead me to studying John Carter, then Henry Gambell, and the list goes on.

The fact of the matter is that I wasn’t willing to give up.

I had my back against the wall and I was determined to make it work. So I listened. I took classes. I networked. I made journals, and excel spreadsheets, and wrote down everything I did. I looked at every mistake and asked how I could have done it better. I examined every win and wanted to know what I did right — and how I could do it again.

There were rough times… incredibly difficult times. There were many times I thought I would quit. But I had already given so much: blood, sweat and tears, and I was willing to do whatever it took.

So I kept going.

And now, as I’m writing to you today, I wanted to give you my super simple (but very accurate list) of what I’ve been telling everyone over the course of the past four days. This is how I got to where I am, and how I’ll help you get there.

So, here are my top five steps to success:

 

  1. Find a mentor — and a community.
  2. Try out different strategies — and give each a chance, until you figure out which you prefer, and which you don’t. Some are better at trading momentum, some prefer income generation, but you can’t know which you are until you try. A mix of both, I think is best.
  3. Determine which strategies you’re good at. This requires being really honest with yourself. Plus, tracking and journaling. Many can’t admit why and where they are losing money… and thus they continue the cycle. Don’t be like them. Look yourself in the mirror and figure out what you’re doing wrong.
  4. Do more of what works, and less of what doesn’t. It sounds simple… but that is because it is.
  5. Give it all you’ve got. You decided to take this journey. So don’t do it with one foot out the door. Give it the time and attention it deserves, to give yourself the gift of controlling your own money.

Within this community, we have the resources available if you want to make it happen. Think about what you need most right now.

What is it? Drop a comment below, and I’ll answer some of your questions in the next episode. I’m here for you — I want to show you the way.

Now, what about the market?

Well, there isn’t much to say. It hasn’t really moved! We’re stuck right below $2,900. When I have something more substantial, I’ll let you know. For now, I’m cautiously long on several key names (PANW, AVGO, ETSY, TWLO, and a few others — but more about that next time), and I’m waiting for a larger market pullback to begin the ‘Run into Earnings.’

2 thoughts on “Chasing the Dream”

  1. Hi Danielle
    New trader and new to Simpler options room as well. I wondered if you would consider possibly doing a 30 min or so webinar on the EMA lines utilized on the charts in the room. Have to admit that the reviews of various charts go quickly and most of the time my head is spinning trying and wanting to keep up and understand.(i’m sure you probably recall your early days). It would help to identify which lines are which, get some understanding of the relationship of these moving EMA’s, thoughts and direction as they get near each other or cross over and just some solid insight as to the importance of the EMA…..a true learning opportunity for those of us who are brand new. I hope you will consider. Btw….really have enjoyed following you!! Richard D. Murray ( Richard M. in the room )

    • Hey Richard,

      Yes, I can do that. I was considering doing monthly webinars for Foundation members, that Options members would also have access to. On my trader page, there is a video down near the bottom that explains my chart setup. It’s a little dated, and I am using Raghee’s GRAB instead of my TrendStrength candles, but beyond that, everything else is the same. Here is the link – https://www.simplertrading.com/traders/danielle-shay/.

      There are also links within Simpler Foundation in the Learning Center that should help you get on track. Check out the video on chart setups. Here is the link – https://www.simplertrading.com/dashboard/foundation/start-here/

      The most important part about the EMAs is where price is in relation to them, and then if they are stacked or not. Price above the moving averages, especially when stacked, is bullish. I use the 8, 21, 34 EMAs and 50, 100 and 200 SMAs. The exact number isn’t as important, and people will use varying EMAs, but those are my favorites.

      Hope that helps –

      Danielle

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