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Transcript of Adrian Reid’s Interview On The Wealth Architect Podcast

EP-064 Be Systematic In Your Trading with Adrian Reid – WealthArchitectPodcast

Mark Yegge:

It’s Mark Yegge here, wealth architect and lifestyle investor. Let’s take your life to the next level. Welcome to the Wealth Architect Podcast.

Hey, everybody. Welcome to another edition of the Wealth Architect Podcast. So glad you’re here. Today, we have a pretty cool guy. He comes to us from all the way around the world, at least if you’re over here in North America like I am. He’s a full-time trader based in Australia, and he is also the founder and trading coach at Enlightened Stock Trading, which focuses on educating, supporting traders on their journey to profitable systems trading. I mean, if you listen to my show, you know that we’re probably on the same page, so please, let’s welcome Adrian Reid. Adrian, good morning in your case.

Adrian Reid:

Yeah, absolutely. How are you? Thanks so much for having me on the show.

Mark Yegge:

Doing great. So glad you’re here. Hey, listen, tell us a little bit about how you got started in the market. Just so we could set the stage, you believe in trading crypto and you have systems that you use for stock trading and other things as well, right?

Adrian Reid:

Yes, absolutely. So I trade systematically across multiple stock markets, Australia, Hong Kong, US. I’ve traded other markets as well, and I also trade systematically in crypto across a wide range of tokens. [inaudible 00:01:12]

Mark Yegge:

How did you get to start and how did you get into all that?

Adrian Reid:

Yeah. Look, my first exposure to the markets and the thing really got me excited about it was a board game called the Stock Market Game that we found while we were on holidays when I was about eight years old.

Mark Yegge:

The one in the 1950s, right?

Adrian Reid:

Yeah.

Mark Yegge:

I have that game.

Adrian Reid:

Well, it wasn’t in the ’50s. It wasn’t quite that long ago, but that’s the game, right?

Mark Yegge:

Right. I have that game. Yeah.

Adrian Reid:

Yeah, so good. We played that as a family. At least my brother and my father and I, and became paper billionaires and that was amazing. And it’s like, “Oh, this is so fascinating. It goes up and it goes down and you buy low and you sell high, and you get rich.” That was great. And so I had a first kind of positive exposure to it just through a game, but it didn’t really become practical until I started in the workforce after university.

It didn’t take me long working in a corporate job to realize that I didn’t want to do that forever. So I must have been a couple of months in, I said to my dad, “Hey, how do I invest so I can retire?”

Mark Yegge:

It’s a hard question.

Adrian Reid:

He laughed at me because I only just started in the corporate world and he told me what he knew and that started the journey. But it was a long and windy path after that for me to find my approach that would really work for me. I tried a bunch of different strategies over three or four years and finally found systematic trading, got profitable, and then it was just a matter of building capital until I could be free.

Mark Yegge:

Nice. So I mean, you’ve said the word systematic trading. Why don’t you break that down a little bit for us. What does that mean, systematic trading? It sounds fancy.

Adrian Reid:

Yeah, absolutely. Look, it’s systematic trading, algo trading, strategy trading, bot trading, all very similar. For me, systematic trading is just a method of trading where you have a strategy that is defined by absolute rules. If this and this, and this happen, you buy. If this or this happens, you sell. How much you risk overall, all of those things are defined by rules. And the reason that’s so great is that when you have absolute rules that define your trading decisions, and you know this, but you eliminate the subjectivity and it becomes testable.

So I can say, “All right, here are my rules. Let’s apply them to the stock market on all stocks since 1950 and see what happened. Or let’s apply them to the crypto market since inception and see if they would’ve made profit or not.” And you can actually tell whether a strategy has been profitable in the past.

Now, that doesn’t guarantee it’s going to be profitable in the future, obviously, but if a strategy has not been profitable in the past, pretty much a guarantee it’s not going to be profitable in the future. So there’s different ways to test it to make sure you’ve got a better chance of being profitable in the future, in real time trading. That’s a whole long conversation about how to test properly. But really systematic trading is about eliminating discretion, having rules that are tested so that you know whether they’re profitable or not, so it confidently apply them day after day.

And the great thing about that is it eliminates all the emotion. It shrinks the time because most of us are really busy. And before I went systematic, I was spending four, five hours a night trying to find my trades and still not making good money. When I went systematic, that shrunk immediately to just 30 minutes a day because it’s all data based and the trades are found by the computer.

Mark Yegge:

Nice. Do you take into account what the market is doing? Is there a market timing component of it?

Adrian Reid:

Yeah, it depends on the strategy in the market. So I trade a whole range of systems, let’s say, maybe a dozen systems in stocks all up and 10 systems in crypto all up. Give or take. They’re not all active at the same time because there’s some strategies for strong bull markets. There’s some strategies for weaker positive markets and there’s some bear market strategies. So they’ll turn on and off depending on what the market is doing. And then there’s some strategies that just run constantly all the time and just pick out very particular trades here and there when they merge. So both can work, but generally no one strategy works well in all market conditions all of the time.

Mark Yegge:

I spent a couple of years when I was first starting out trading my own money, doing some things. I mean, I had a financial trading technology firm. We wrote algorithms to do systematic trading. And then when I went out on my own, I started to write my own algorithms and I thought, “Well, I’ll just do if this, then that and this and that, and I’ll just write those into the easy language,” it was called. I had all those things going. I’m like, “Look at all the money I would be making if I just did this?” Because I was doing back testing and every single time I turned it from back testing to live, I lost money, every single time.

I was like, “This doesn’t work. If it works so well when you’re back testing it, why doesn’t it work in the real life?” It was like, “There’s no way you can do this.” So there’s no way I could do it. I just didn’t have the chops to either write the code or I wasn’t timing the market or I wasn’t choosing the right conditions or whatever, but it didn’t work for me. And so that’s why I came up with a system that uses other people’s desire for risk to write calls against what I do, and then we create income from that.

So that’s my system. But certainly there’s breakout systems. I have an incredible breakout system that works as well, but I can’t do it with a computer making my decisions. I haven’t been able to cross that chasm yet.

Adrian Reid:

Yeah. I mean, what you described is a pretty common experience for people doing approaching trading the way I approach it. And you’ve found your method and your strategy that works and systemizing and so on. So it’s essentially we’re probably doing the same thing. Different rules, but the same style and same thinking. But the problem with cracking open the back tester and saying, “This and this, and this, and also this, but not that, and this,” you’re basically curve-fitting to those historical conditions that you’re back testing on.

So the more logic you put into the system to try and narrow down the trades, the more fragile the system becomes. We want robust systems that work like a sledgehammer, not really precise systems that work like a scalpel is at least the language that I use. So I use fairly blunt rules, and those blunt rules work over a wide range of parameter values, a wide range of conditions, so they’re more likely to work in the future.

But I found as well, the more you filter and the more you try and eliminate losing trades and really narrow it down, the less it works in realtime trading because it’s too perfect.

Mark Yegge:

I absolutely feel you on the rules thing because today we’re having a particularly big meltdown and we have been for basically a week, at least in the stocks that I’m in. I have strayed from my rules a bit, and I am feeling the emotion. And that’s the whole point of having rules is to make sure that you don’t stray from your rules because the rules are there to protect you. And when you do stray from them, you feel the emotion. So I have to do the reset and get back into the game and go back to my trading plan and put that system in because that’s what is there to protect.

Because you think about these trading plans not during the market when things are tanking and you’re emotional, you think about them on a Sunday afternoon when you’re sitting down and being logical, and that’s the time to make your trade because then you’re using your brain. It’s not your emotions to make the trade.

Adrian Reid:

Yeah, exactly right. It’s a vicious feedback loop that we have. As traders we have to be really careful not to fall into because if we deviate from our rules then the emotion comes up because there’s more fear or there’s more greed or whatever. And when the emotion comes up, our intelligence drops. So we’re more likely to deviate from our rules even more, which then causes more emotion, more stress, so therefore the intelligence drops even more. And so you just cascade into very bad decisions.

Mark Yegge:

Yeah. I remember once I was going through a particularly rough bear market and I thought I could day trade my way out of it, and I said, “You know what? Abandon everything. Just start buying options.” I started [inaudible 00:09:45]. I was so distraught by the end of the day. I think I lost like 300 grand that day. It just goes to show you that even when you think you know everything and you think you’ve got… You say it can’t go any lower and you buy. Or you say, “Well, it’s going to continue to go low, so you short.”

You’re usually exactly wrong. So I certainly proved it to myself that day that I took a mistake and I made it worse by being emotional and not following a trading plan. So you’re absolutely right. I’m so glad that I have somebody on the other side of the world that talks about trading system and rules as much as I really believe in them.

Adrian Reid:

It’s just hilarious how… Not that situation, but humanity. Humans just don’t make very good traders naturally. Our emotions just play havoc with financial decisions. And so putting those rules in place is critical. If we don’t have rules to follow, the emotions drive the decisions. And in finance, that’s just deadly, deadly. Trouble is we’ve got to have the confidence to follow the rules.

Mark Yegge:

That’s it. That’s it.

Adrian Reid:

So how do we do that? Well, I mean that’s again a whole big conversation, but for me, that’s a lot about the back testing rigor to really dig into how do those rules perform and all those things. But there’s one thing which is interesting that you said, which I wanted to pick up on, if you don’t mind.

Mark Yegge:

Yeah, let’s do it.

Adrian Reid:

I’ve also thought in the past, “Oh, I could trade my way out of this, or this is a better decision.” And lost money. Not 300 grand, but that would’ve hurt. But what I started to do was every time I thought I had a clever idea about how to fix something or change something or make it better, I would convert that idea to a rule and then test it. And backtest it over as much data as I could get. What I inevitably found is probably 98, 99% of the time, my trading ideas were terrible because they come from a human brain from our social conditioning, which is not good for trading. Right?

Mark Yegge:

Right.

Adrian Reid:

I would test these ideas. It’s like, “Oh, that loses money.” It’s like, “Oh, that loses money.” Test another one. Oh, that loses money. And after doing this hundreds and hundreds of times, I started to realize that any clever idea I had about the markets was probably not that clever. And that then conditioned me to just follow the rules. So it a takes a lot of stress out of the trading when you just give up on… You submit to the rules. You surrender to them and just follow them because most of our clever ideas are not that clever.

Mark Yegge:

As long as you have that relative conviction, then it’s easier to follow the rules, right? You have an experience, I’m sure you’ve had some experiences, they make it easier to follow the rules. But we’re still human. We still [inaudible 00:12:37] and we still make mistakes. I think I see in the background, it’s a little fuzzy trade your system, not your emotions. Is that what it says?

Adrian Reid:

That’s correct. Yeah. Absolutely right.

Mark Yegge:

Well, it’s a beautiful sign because it’s exactly what we’re talking about. All right. So you’ve got rules, and the rules are there to be back testable and to see if they’re subjective. You make them subjective and that will help you eliminate your motion and also frees up a little bit of your time. So that’s the summary of the beginning of our conversation. Why don’t we jump in. And listen, this is not financial advice, this is entertainment if nothing else. Maybe some information, but go see your financial professional, all that stuff.

But without getting any specifics about any stocks or cryptos, give us an example of maybe a couple of rules that we… So we can understand kind of what’s in your head and how you go about creating a rule and maybe which ones that you might use.

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Now, while two to 4% a month doesn’t sound like much, I show you exactly how we took my IRA from $111,000 to over 500,000 in just 19 months without huge risk. I’m not telling you this to brag, just to show you that you could do this too. So to learn more about this program, go to cashflowmachine.io. That’s cashflowmachine.io and you can learn more.

Adrian Reid:

Yeah, absolutely. Look, again, really important to… As a trader, to anyone listening, when you hear rules or ideas or strategies from someone else, you’ve got to be able to test them for yourself because I can’t tell you how many trading books I’ve read and I’ve taken strategies directly out of the book, published by well-known people and tested them and they don’t work.

Mark Yegge:

Right. I’ve done the same.

Adrian Reid:

So really important to test things for yourself. But having said all that, here’s a good example. So US stock market is not trading so hot right now. We’re in a bit of a bear market, so it’s nice to make money on the way down. So a lot of people will buy and hold and make money on their way up, but far fewer people will short sell.

And in 30 words or less, short selling means borrowing a stock from the broker, selling it at a high price on the market when it drops, buying it back at a lower price and giving it back to the broker. And you made money on the way down because you sold high and you bought low instead of buying low and selling high.

So that’s short selling in a nutshell. Now, if you want to make money shorting stocks, one way to… One strategy that works fairly well for me or works very well for me is you wait until the market is clearly going down so that the whole market has to be going down. And this is all about momentum and weight of the market, the weight of the investors, kind of outlook.

So the market has to be weak. When the market is in like the S&P 500 rallies and then rolls over again. That’s usually a pretty good time to short weak stocks. So stocks that are already in a downtrend, when the market rolls over in a downtrend, you can get short. And when you’re short selling, the risks are pretty high because the best you can do is you can short sell at whatever price the stock is, let’s say a hundred. The best you can do is it can go to zero. The worst you can do is it can go to-

Mark Yegge:

Infinity.

Adrian Reid:

… 200, 300, 500, 1,000. Now, realistically, stocks don’t go from a hundred to a thousand overnight. So that unlimited risk is a bit of a fallacy if you are sensible. If you’re trading penny stocks, you can get yourself into trouble. But if you’re trading large caps, it’s usually okay. But because of that risk, I don’t just short one or two names. I will have 30 stocks that I short all in small positions because if one of them goes wrong, I don’t want it to hurt me. So I’ll take 30-week stocks that are already trending down. When the market is down, rallies and rolls over, I’ll get shorter range of stocks and then the momentum is down.

I put a profit target in a little way down how far down the profit target should be, depends a bit on your preferences, but somewhere in the vicinity of 15 to 50% can work, right? You’ve got to test these for yourself. And then it tends to continue to decline. A lot of the stocks will hit the profit target within a couple of weeks, and if they don’t and they start rallying again, you just get out.

So as a example, strategy, that’s the framework for a short side system that I use. It works really well in bear markets and it keeps you out of the bull markets. So when the markets are strong, your trend following or buying and holding. When the markets are weak, this kicks in and you make some money on the way down. Does that kind of give you a [inaudible 00:17:47]?

Mark Yegge:

Yeah. I mean that’s a perfect example. So let me dive into that a little bit. Let’s say the stock is at a hundred. It’s rallied to 105 and it’s starting to roll over again, and now it’s back to a hundred and you short it based on your strategy. Now it goes to 95. Do you have a trailing stop on it or do you give it room to go all the way back up to a hundred? Or do you have a trailing stop that follows it all the way down? How does that work where you guarantee that you’re not round tripping yourself and basically losing money on something that you had a nice profit in? How does that work?

Adrian Reid:

Yeah. Look, that’s the perpetual traders problem, isn’t it? Because when we have a bit of profit in a stock, we don’t want to lose it… Or in a trade, we don’t want to lose it and give it up. In this particular strategy, I don’t use a trailing stop, but I do have an exit which will protect some of the profits. Because what happens? So I have a stop loss because I don’t want to lose too much. Let’s say I got in a hundred. I’ll have a stop loss a little way up, maybe 120, 130, something like that. A little way. A long way up.

Mark Yegge:

That’s a lot.

Adrian Reid:

And that’s like a fail safe. Okay? If the stock falls, I have a momentum sort of indicator that says, “If it turns back up, get out.” So it’s not a traditional trailing stop where it’s a 10% trailing stop. If the stock rallies 10% from any point, then I get out. I haven’t found those to work terribly well on the short side. They work very well on the long side, I think better. So I use a momentum indicator to get me out if the stock starts to rally. And if the market starts to rally, I’ll also get out. So both of those a little bit. I guess the answer is sort of yes, but not exactly yes.

Mark Yegge:

Are we wonky enough for you, everybody, because we’re diving into some trading talk here? Hopefully, you’re able to follow. If not, I find trading fascinating, and maybe this is a field that you can learn a bit about, but you won’t know anything about trading until you put your money in it. That’s when you learn. You won’t learn at paper trading, you won’t learn it back testing with all due respect. You will only learn it when you actually put your dough behind the trade and your convictions and then you create.

Like Adrian says, so well, you create new rules around what you will do and what you won’t do next time. So that’s a pretty good example. So we’re talking on the short side. You got a little bit of knowledge about how you make money in this crazy bear market, which I’ve been saying for a year that we’re in a bear market.

I think we’re getting close to the end because it feels so scary right now. I think we’re closer to the end than we are at the beginning, even though there’s all this news and interest rate hikes and all this kind of stuff. But let’s turn a bit to crypto if we can, because I know you do the same thing. We talk about stocks, and I’m a stock market guy, but I also have a hedge fund that handles primarily Bitcoin. And in the last few days we’ve had some tumultuous times in the business as one of the exchanges has gone insolvent.

There’s runs on it, and there’s a little bit of… Well, there’s some problems with it, let’s just leave it at that. And so the bitcoin market yesterday, and depending on when this goes out, but yesterday went up in US dollars, 2,000, went down 3000 and didn’t settle at the middle. It kind of stayed down. And today it’s at even a lower level. So Bitcoin is a volatile business. Some of the other cryptocurrencies that are centralized are even more volatile.

How do you trade cryptocurrency in that market where we’ve had a lot of failures this year. We’ve had the failure in FTX, which I just mentioned. We’ve had failures in Luno. We’ve had failures, I think in Celsius. The list is 20,000 tokens, everybody. So when you’re talking about all these different projects, they’re all not going to succeed. How do you separate the wheat from the chaff, Adrian, in the crypto space?

Adrian Reid:

It’s a really great question and really, really important, particularly in crypto. For my own trading and when I’m working with students on crypto, the biggest thing is diversification. I know that that sounds easy to say, but what do I mean? You don’t want to have just one exchange because if you’ve got just one exchange and it goes under, you’re in trouble. You don’t want to have a small number of tokens because there’s a lot of, let’s say murky gray economics going on. A lot of leverage behind the scenes, things that we’re not going to understand from the outside.

So I don’t have any high conviction type trades in crypto. I have mass diversification. So I’ve got dozens and dozens and dozens of positions in crypto. I trade eight different systems, no, 10 different systems rather. Each of those systems holds a large number of trades. So if anyone goes bad, I literally wouldn’t even bat an eyelid if it went to zero, because my positions are really quite small relative to the account size.

I think that’s important because there’s a lot we don’t know. But the second thing is, “I really strongly don’t believe in buy and hold in this space because we don’t know who the winners are going to be.” And people will say, “Oh yeah, but if you just buy Bitcoin, if you just buy Ethereum, if you just buy the top five, then you’ll be okay. Just buy and hold them forever.” It’s like, “But hang on a minute. Five years ago, the top five was very different than the top five now. And even two years ago it was probably quite different.”

So in five years time, we have no idea what the top five is going to be, and we have no idea which technologies are going to win, whether something better is going to come in, faster network, lower costs, higher liquidity, tighter spreads, more utility, blah, blah, blah. So I don’t buy and hold anything. There’s always a fail-safe exit. And my strategies in crypto are designed in a way that I call fail-safe.

I’m an engineer. Think about an oil refinery. If the power goes off in an oil refinery and there’s valves left open and oil spewing out, and their furnaces are still on all of that, the oil refinery is in a lot of trouble. But if the power goes off in an oil refinery, those things don’t happen because they have valves which are fail safe. Water valves fail open. Oil valves fail closed.

Mark Yegge:

Wow.

Adrian Reid:

Right? So it’s fail safe. If something goes wrong, things don’t explode. And in your training systems, especially in crypto, they’ve got to be fail safe. So you’ve got to have a stop loss. You’ve got to have an exit that will get you out if the trade is going against you. You’ve also got to have an entry that will get you in, in the case of the monster move. You don’t want to have the really precisely defined super duper strategy with the 15 candlesticks and ultra precisely defined support and resistance levels, blah, blah, blah because you’re going to miss the monster move.

You want to have something blunt that absolutely will get you into the big move. And if the move doesn’t play out, you want to have something that will absolutely get you out if you’re wrong.

Mark Yegge:

Why not just buy 30 of them all at once and forget about trying to put to fail… not fail safes, but triggers to get you in when something’s making a monster move? Because you might miss it might jump over your spot and you won’t get in, I assume.

Adrian Reid:

Yeah. So the fail safe entry to make sure you get into the monster move is something blunt that will always trigger like…

Mark Yegge:

A market order as is.

Adrian Reid:

A breakout where you enter on a market order.

Mark Yegge:

Yep. Okay.

Adrian Reid:

You’ll definitely get in. You can’t not get in.

Mark Yegge:

Got it.

Adrian Reid:

And on the short side, the same thing. You don’t want to miss the monster down move. You’ve got to get in on the short side. So you can have some other strategies that are a bit more tightly defined, but you want to have a core strategy that will get you into the big trends, keep you in them, and then get you out with profit.

Mark Yegge:

So question for you is are you… You’re trading these, right? You’re not staking and making interest on it?

Adrian Reid:

Oh, no, no, no.

Mark Yegge:

None of that stuff where you tie up your cryptocurrency for a while. You’re actually liquid and you’re trading and you can be in and out of any position based on your own whim. And this, by the way, everybody is a 24/7 market. So in the middle of the night, if something is going on, you can get out if you want to versus the stock market. It’s a-

Adrian Reid:

I could theoretically. I could theoretically. My strategies are on daily or weekly charts. So once a day I’ll make a trading decision or my computer will make a trading decision. ‘Cause in fact, my crypto trading is a hundred percent automated. All of the principles that we’ve talked about apply, but my computer doesn’t for me. So once a day, the data updates, I see what happened in the last 24 hours. The systems run, I get new buy and sell signals. My computer talks to the exchange through the API, places the trades, and it’s done.

The stop losses for my strategies that have stop losses are in the market. Some stop losses are next bar on open. So if it touches a certain level during the day when the new daily bar starts, I’ll get out. But that’s just nuance and strategy design.

Mark Yegge:

Yeah. And do you write this software yourself? Do you use an assisted writing program? How does that work for you?

Adrian Reid:

The rules of mine, I use off the shelf software. Actually, one of the traps for systematic trading I feel is people… Many who are naturally drawn to it are programmers say, “Oh yeah, I can program my own back testing engine.” It’s like, “Hang on a minute. You’re going to spend weeks or months programming a back testing engine. When someone is already done it, you can buy it off the shelf for 300 bucks and you could spend weeks or months on a strategy that you put into the back testing engine. And that’s far more useful. I don’t program my own software, I use off the shelf. And if there’s any complex coding I outsource it.

Mark Yegge:

That’s fascinating. Well, that sounds really cool. It sounds like you have a lot of fun stuff going on. You are a pretty much a left brain guy, engineering background. You like checklists and systems, and processes, and procedures. I love all that. I think that’s great. So how can people learn more about what you do get involved with you? Tell us a little bit about that. How about a time for a 30-second commercial, a minute commercial, or something like that?

Adrian Reid:

Sure. Real quick, if you anybody wants to learn about systematic trading, first place to go is enlightenedstocktrading.com. That’s my website. I’ve got couple hundred blog posts on there talking about systematic trading and mindset and all of those things. Crypto and stocks. So go there, have a read. I’ve also put together a set of materials, a free course, and some articles that cover some of the biggest mistakes and some of the biggest levers of success for crypto trading, which I thought would be most useful at this point in time. And you can get that at enlightenedstocktrading.com/wealtharchitect. If you go there, then you can email me. You’ll get some emails from me and ask whatever questions you need.

Mark Yegge:

Cool. So that’s a free resources they can get by going to enlightenedstocktrader.com/wealtharchitect, right?

Adrian Reid:

Yeah. Enlightenedstocktrading.com.

Mark Yegge:

Stock Trading. Sorry about that. Yeah, Enlightened Stock Trading. Well now we got to say it a few times, so hopefully it’s burning into those drivers who are driving down the street and don’t have a pen and a piece of paper to write it down. Well, cool. What final thoughts can you leave us about anything in the markets trading, making money, investing? I’m sure you have a couple of tips that you can wrap this up with.

Adrian Reid:

Yeah, I do. Absolutely. Thank you. Look, the markets are in a really crazy state right now. Stocks are in a bear market. Crypto is in a bear market. Emotions are high. People are losing money. The biggest drivers of long-term success are having rules that will keep you safe. Rules that have a positive expectation of profit, and having confidence in those rules and trading them with low risk and low leverage.

Too many traders try and get rich quickly by using leverage because they think they’re on a sure thing. But in the markets right now, there are no sure things. And so I trade very conservatively. If you want to win the game, you’ve got to stay in the game. So don’t use a lot of leverage, don’t risk a lot on each trade. 1% per trade risk is the maximum that people should be risking if they’re trading actively and follow your rules. If you don’t know how to follow your rules or you don’t have confidence in those rules, reach out to me and I’ll show you how to build that confidence so you can and keep yourself safe.

Mark Yegge:

Good stuff, Adrian. I love it. Risk management, everybody. Really critical thing. Mindset, another critical thing to trading. And these are two things that most people don’t talk about. They’re like, “What stock should I buy? What crypto should I buy?” I want to double my money. I want to buy options. I want to do all these risky things. And Adrian is telling you about a couple of ways that you can mitigate the risk. Like he says, if you want to win the game, you got to stay in the game.

So I want to thank you, Adrian, for your time, your wisdom and being on our show today. I think you’ve dropped some really cool bombs for us. I love some of the knowledge that you’ve thrown our way. So thank you so much for being here and it was nice to have you.

Adrian Reid:

Pleasure, Mark. Thanks so much for having me on the show.

Mark Yegge:

Yeah. And to all of you who are listeners and watchers and viewers, I thank you so much for being here and I’ll see you next time on another edition of the Wealth Architect Podcast. Remember what I always say? Never give up your power in your health, your wealth, or your time. Have a great day, everybody.

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