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Transcript of Adrian Reid’s Interview On The Financial Freedom for Fathers podcast

Adrian Reid tells me why successful stock traders so successful?

James M. Johnson:

My name is James M. Johnson, and I lead a tribe of entrepreneurial fathers who hunger for more for their family. We may not have fancy letters at the end of our name; we may not have the biggest houses and the fastest cars, but we are making the impact for our families and our communities. We don’t sit back and brag about all the stuff we do. We’re in this game to make an impact on our family’s lives and lives of others in the world. We’re dads and we’re taking action to becoming financially free. We’re doing it by means of self education and our will and determination is second to none.

James M. Johnson:

Our why is our children and that is all the motivation we need to make our dreams come true and create a legacy that our family will remember for generations. If you ask the doubters, they’ll tell you that as ordinary fathers it can’t be done. We have too much on our plates. We’re not educated. We’ll never find financial freedom because the odds are stacked against us, yet it’s happening every day. I’m here to prove you wrong. Join me on the journey and mission as I build a tribe of entrepreneur fathers, as I discover, learn, share and implement the tools from the best marketers, entrepreneurs and financial advisors on the planet, to reach financial freedom. This is the Financial Freedom for Fathers podcast.

James M. Johnson:

Adrian Reid has been a profitable systematic stock trader for over 15 years. He trades for a living and has spent the last six months trading from the road while traveling with his wife and kids. He is the founder and trading coach at Enlightened Stock Trading, where he has been mentoring stock traders for the last five years. Adrian, thank you and welcome for coming on the show today.

Adrian Reid:

Thanks so much. Great to be here. Real pleasure.

James M. Johnson:

Adrian, can you tell me what makes people so successful in the market?

Adrian Reid:

Yeah, absolutely. There’s a couple of things that are really critical for anyone who wants success in the financial markets. This is the same whether it’s stock trading or forex or futures or any of the different financial markets where you’re trading or investing actively.

Adrian Reid:

The first thing is, you need a method that is profitable, and the challenge with that is most people come to the market with a degree of confidence that they’re smart. They’ve had some success elsewhere in their life and they’ll figure it out. So you come in and you typically, people will get some advice from a few different people. They’ll read some blogs; they’ll look at the newspapers and they’ll form a view about what they should do, what they should buy, what they should sell and they’ll just give it a crack. The trouble is, a lot of what works outside of the markets in your normal life, in your normal career, in school, in university, all of those things, a lot of that just doesn’t translate into the way the financial markets work and so people who come in fresh have a real risk of losing money.

Adrian Reid:

And so what you need in order to succeed, number one, is a method that is actually profitable and so you’ve got to take some time to find that. Now it takes a little more than just a method, though, because there’s many different ways to make money and this is important to understand. There’s lots of ways that people can make money in the stock market, for instance, but for you as an individual, to everyone listening, for you to make money, you’ve got to have a method that’s not only profitable but it’s also got to fit your personality. It’s got to fit your objectives and it’s got to fit your lifestyle.

Adrian Reid:

Now you might be wondering, well, why is that important? Just give me a method and I’ll follow it and I’ll make money. Well, the key is actually following it, because if you’ve got a method that doesn’t fit your personality, it stresses you out, it freaks you out, it’s too hectic, it’s too slow, any of those things, if it doesn’t fit you then you’ll tend to make mistakes. You’ll tend to do the wrong things. You’ll tend to second guess it, modify it, change it and that leads to losses. So, that’s personality.

Adrian Reid:

Second one is objectives. Now, we’re talking about financial freedom on this podcast and helping people achieve financial freedom and different streams of income and so on. Objectives is really important because if you are busy in your day job and you just want to spend half an hour a week managing your money to grow your investments, then the objective of how much time you spend will dictate what method you can use. Or if you contrast that with someone who is staring at the screen all day, happy to sit on their computer and trade all day, every day, completely different objective and so they require a different method.

Adrian Reid:

And then lifestyle as well. In the intro you mentioned that I’ve been traveling for six months and one of my big drivers around trading and earning money out of the markets is that I want to be free. I don’t just want to make money by sitting in front of the computer all day. I want to be free and so my trading method is designed to suit me, to allow me to trade from anywhere in the world. I’ve traded from or managed my trading from all different countries. I’ve done it on airplanes when I’m between time zones, I’ve done it on trains, I’ve done it all over the world and it’s designed to give me the lifestyle I want. Now for people listening, you’ve got to have a method that gives you what you want and that fits your lifestyle. So many people try and pick something up out of a book or a blog and just copy it without thinking about personality, objectives, lifestyle. Having those three things nailed with a profitable method is really the key to success.

James M. Johnson:

Yeah. I guess if someone doesn’t like the risk of a high stock, they want the … They can’t stomach the market, the ups and downs, I guess that wouldn’t be very wise then to put their money in volatile stock.

Adrian Reid:

Yeah, absolutely. Yeah. Part of the objectives piece is how much fluctuation, how much volatility can you tolerate, and in my program, I’ve got a program called the Trader Success System which works through some of this, but one of the most critical things that we do is, we understand how much drawdown and how much of a dip in your equity from day to day, week to week, can you tolerate, because nothing moves in a straight line. One of the things to remember about the financial markets is, they go up and down and they might be going to the moon eventually, but in the meantime, there’s going to be some ups and downs and so your account is going to go up and down and that’s got to be volatile only to the extent that you’re comfortable.

Adrian Reid:

I see so many investors and traders go out there and particularly people who use lots of leverage in forex or options or other markets even and they buy so much on leverage and their account fluctuates hugely, which then gives them stomach ulcers and stress and they end up making bad decisions. Making any financial decisions under stress causes mistakes and losses, and that’s what takes you away from financial freedom, not towards it.

James M. Johnson:

Yeah, for sure. That’s … So as a, say, a father looking to get into the market, who would they seek out to help them out with these trades? One last question, Adrian, what biggest tip would you take or give somebody? So if you could talk to your younger self, what advice would you give yourself?

Adrian Reid:

Yeah. So let me focus specifically on stock trading to answer this question. The best piece of advice is, trade systematically. Now, most people will come to the market and they’ll read the newspaper and then they’ll look at some financial publications and they’ll talk to their stock broker and they’ll talk to their friends and they’ll take all of this information. They might look at some charts and they’ll pull it together and they’ll make what they think is a sensible decision. The trouble is, it is way too subjective and for 99.9% of the population, pretty much impossible to make money that way. But with a simple set of completely objective trading rules that tell you exactly when to get in and exactly when to get out of the market, you eliminate all the subjectivity and all of the noise, and you can make trading a repeatable process.

Adrian Reid:

And if you can follow the same process over and over again, and that process is profitable, which you can also test, then you’re going to make money in the long run. We don’t want to think about each individual trade. We want to think about the process and following that process. It took me three years to discover systematic trading and had I discovered it on day one, I would be dramatically wealthier now I than I am. I mean, I’ve done very well over the last 15 years, but if I had that extra three years of solid compounding because I was systematic, man, life would be amazing.

James M. Johnson:

Yeah. And I think that’s another thing. People don’t understand the value of compound interest too, but that’s a topic for another day. Adrian, can you tell us, tell the listeners where they can find you at?

Adrian Reid:

Yeah, absolutely. So my courses and programs and content is available at enlightenedstocktrading.com and I should link it so that maybe you can find it down below the podcast so that you can get a few tips and bonuses and free training and everything just so that you can learn a little more about stock trading, or find me on Facebook, Enlightened Stock Trading.

James M. Johnson:

Yeah, for sure. Okay, Adrian, thanks again for this awesome interview and all the tips and maybe we’ll get in touch again down the future and talk some more.

Adrian Reid:

Sounds great. Look forward to it.

James M. Johnson:

Bye now.

James M. Johnson:

Thanks for joining me and my guest tonight on a Financial Freedom for Fathers show. If you liked this show, please go to itunes.com and look us up at Financial Freedom for Fathers. Please subscribe and give us a rating and a review. Thank you very much and have a great night.