Tim: all right and it is that time again I am recording another one of my episodes I don’t know what I’m calling these Jasmine by the way and you notice we were just chatting for 10 minutes and when I click record my tone changed in my voice
Tim: I guess we’re all official now that is Tim justice here and I’m interviewing a trader from our community this is Jasmine Jo Jasmine how are you
Jasmine: I’m doing well thank you
Tim: you look nervous now your body language changed as well don’t worry we’re just it will only be tackled trading people who are watching this kind of thing and it’s just a great way for people to get to know each other Jasmine’s a trader from Southern California, she first met my brother, we were chatting online about her trading and I asked her if she wants to do one of these interviews and she said sure a little bit nervous here but you’re gonna be fine I’m gonna ask you the same 5 questions I asked the coaches mentors and beginners ok ready?
Tim: why did you get into trading?
Jasmine: I wanted to make more money I wanted to be financially happy to be where I am that’s the goal
Tim: Money equals freedom and time and it opens doors in our life right we should never apologize for wanting to make more money you know I’m a capitalist I’m with you I think money is one of the real reasons why people do it but it’s what that money represents if you made a lot more money you know what are some think goals you have in your life to do with that money more time you know more travel what is it
Jasmine: More time travel I know so help also how I’m a Christian so I’m hoping to spread the words to my church
Tim: that’s awesome that’s a really good goal what is your trading edge or strategy
Jasmine: Options and futures, that’s how I feel
Tim: yeah, what do you like about the options in futures market cuz you were talking about how I don’t want to buy stocks anymore. like the options and futures market what is that all about
Jasmine: because for stocks I feel like I’m more attached to it if I traded a lot I treated more like something it’s like an instead of a ABC company I treated more like something I know I’m familiar with it so it can Pardon my family kinda thing make anything you can more related a touch so I don’t like that so I think in for options it would stay that way if we can be more mechanical because there’s an expiration date there and when we do when we look at the Delta the theta so make us have the urgency to make a decision inside just hold
Tim: What is your daily trading routine
Jasmine: I watch for markets like the yes not exact the Russell the devil so pretty much I try to get a sentiment of the market and I have a I know the open opened up the day the overnight low over 95 so if then I want to see the sentiment and the weird the medium is that so I go miss back and I based on that I determine where it’s a resistance when it where it’s the support so try to get in and exit from those affecting shorter time
Tim: awesome so you’re in California so that means your daily routine must start bright and early you can’t sleep in to trade the markets at the open they’re the futures market is a 24 hour a day marketing it’s one of your favorite markets but it opens at 5:30 your time so you up right then early in the morning approach in a market like with a cup of coffee or whatnot
Jasmine: It’s mostly in the morning last year it was anything so it depends on the age of Asian open
Tim: I See
Jasmine: get in through there usually back and move the market send my stop loss I check it again before I go to bed and I manage it the next day usually the next day it’s like good day this year no it’s like because getting so choppy you’re getting six ticks like considering eight ticks good day
Tim: and is that you focus on the es or the NQ or both you like all four markets
Tim: yeah, those are the minis by the way if you’re out there watching you don’t know what that is the SMP minis the Nasdaq e minis the Russell and the dowel right Jasmine?
Jasmine: yes yep
Tim: well oil is the biggest commodity in the world is a great futures product do you trade oil as well
Jasmine: Only on Wednesdays
Tim: you know what that is guys that’s news based trade off the volatility off of the opah are the oil numbers the EIA numbers that come out every Wednesday right
Jasmine: Yes I do the gas and also the oil
Tim: I love it I love it what are your trading goals for this year
Jasmine: I used to set a lot of high goals for myself like to say when I’m gonna do something like air people always say well we overestimated what if we can’t be you know you know in a year human thing and we underestimated what we can be doing here so now I just go one day at a time what they are time to say if I lose I lose within my limit I know where to head where my stop loss is that over that I won’t trade it anymore but if it’s a loan if I’m winning I would try to stay value rating so this year my goal is to stay green
Tim: stay green make money you know I asked that same question to coach Geno who’s also a fellow Southern Californian and he’s had the same basic answer stay in the green you know do better than I did last year stay consistent and I really love what you just said most people they overestimate what they can do in the short term and they underestimate what they can do in the big picture you build a good system where you can approach the market with discipline and don’t take huge losses and really especially in futures and Forex and directional option trading jasmine good systems only have three outcomes small gain small loss or big gain right we shouldn’t be taking big hits and if you’re doing that every day jasmine and you’re in the green I think that’d be a great year you know obviously that’s trading, not 101 right there I love that answer what advice would you give a brand-new trader out there
Jasmine: not give up at the beginning things can happen three ways to make big win big loser all flat so sometimes what we get like certain things happen we get discouraged just know why you wanted to do this think not just today tomorrow but like an even feel month or a year down the road to see where you can go I think not to give up it’s a big thing in any area any successful people I think it’s just they succeed because they didn’t give up they just find it away there’s always a way to do things differently than a lot of times it’s our hearts are right we’re just doing things they’re always better way to improve that if we can continue to do that it’s definitely good you mean or anything
Tim: trading is a very difficult business in many many regards there’s the technical aspect there’s a concept but and people can learn it one of the challenges I think is psychological because especially in a volatile market you know there’s a reason why the greatest trading books of all time were all mindset books you know reminiscences of a stock operator trading in the zone trade your way to financial freedom things like this and the Great’s they all talk about mindset what you’re just talking about you know you have to have a disciplined approach to succeed and every great trader probably had many many times where they’re like I should quit this stuff you know or I’m gonna give it up you know I’m gonna go do something else with my life and they didn’t they found a way to learn from whatever drawdown they had from whatever dip they had in the market or their account or whatever it is and move forward with better discipline and design I think that’s a great answer for everybody out there veterans and beginners alike Jasmine awesome job you know one thing we were chatting about before and a great trader is a great trader it’s not about gender but we were talking about women in trading and I think it’s really awesome to see a woman here you know who’s learning how to trade hopefully that can inspire other women out there to want to get out there and learn the financial markets as a woman in this field it is a male-dominated field what advice would you give other women out there
Jasmine: I think trading is great and so Trade smaller at the beginning but be consistent and overall overtime when we have more experience because of women usually, have to be juggling between family and kids and I feel like they do more things there a lot more things went through their mind and their male so woman I think they can be really like a detail-oriented so so women in trading, yeah I know I think it’s uh I think it’s a good time management if you see if you can like a master certain areas it’s waiting you can manage everything short of your time so you have the entire that you left over to do whatever
Tim: I think it’s a fair point you know my wife and I we talk about you know responsibilities and we’re raising kids and you know a woman takes on many roles so do men obviously you know it’s a partnership when you’re in a relationship like that but if you’re raising kids and dealing with household stuff and also a job and a career and now you’re bringing in something new it can require multitasking and juggling it but again I think it’s a really awesome thing that we’re just you know we’re talking about it the fact that women are willing and able to go out there and add you know some financial security to their household women live longer in general by the way they need to make more money for retirement I think it’s awesome keep inspiring people kid I think you’re an amazing person thanks for being a part of our community and guys we will be back next time with somebody else I don’t know who you never know I’ll edit this later Jasmine great job
Jasmine Thank you
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