Tim: and we are here recording is up and is in the corner here Marques which means I know I’m living now I say this all the time but you notice how my tone just Changed

Marques: Yes

Tim: see I’ve got the recording voice I’ve got my broadcasting voice then I got my Tim hanging-out voice it’s not even what it sounds like you gotta hang out with me to know that Tim voice but my friend Marques Johnson how are you sir

Marques: I’m doing pretty well how about yourself

Tim:  just talking to Marques on the phone and I’m like hey Marques before we stop you know get too far in to talk and trading when he come and let me interview you for my new video series and that’s why we’re here we’re calling this five questions and Tim interviews traders alright marques do you know what that acronym stands for

Marques: Which Acronym

Tim:  Tim interviews traders

Marques: No

Tim: just spell it

Both: (Laughter)

Marques: Well I wasn’t sure if that’s what you were going for as of now

Tim:   it was not intentional by the way think about changing the name but the too funny all right number one same five questions I’ve asked everybody by the way why did you get into trading

Marques:  I wanted to make a difference an in my life I Knew there had to be something more than just having a lot higher rank I know I was but I knew to be in control with my financial future there had to be more than just this there had to be and didnt want to rely on just one thing or a source of income because that can stress things out or something falls through you know what if I get hurt I can’t go to work and I have family what if I get laid off like there has to be something different there has to be something that can give me a peace of mind and I knew there was something out there for it there are multiple ways to make money but I had to find out something that I wanted to do something I can do and be passionate about it at the same time because me knowing me I know what I’m passionate about something I’m not gonna give up you know with Fitness I’m a big Fitness guy like the way I am today with fitness how to eat how to workout it’s refined every single year every single years for fine and slow because I enjoy It you know there were a days where I didn’t let this much weight there were years where I didn’t look as good you know there were years where I didn’t I thought I knew how to eat you know eating peanut butter and jelly cereal oatmeal and eggs I thought that was a diet now I’m so much more refined I can speak to someone with confidence about eating working out and that’s the way I need to be or want to be will be With trading you know I found something that I’m enthusiastic about I love it it just gives me a this gives me a peace of mind you know and I see what I can provide for my future

Tim: by the way, I didn’t even properly introduce marquise, marquise an old friend of mine now he’s actually been traveling on the road for a couple of years helping traders your personal fitness guy as well you actually work with people one-on-one and help them get into shape and whatnot is that right

Marques: Yes sir that’s why this damper

Tim: yeah and you the first time you actually that I met you Marques was probably in an online environment but I didn’t know you yet yeah then you started traveling for legacy education and you became a coach for them and started working with new traders and whatnot been around the market for two-three years now is that Right

Marques: this is year three

Tim: Wow it’s pretty awesome and number two what is your trading edge what are you good at

Marques: I would say being patient

Tim: patient on entry or patient on exit

Marques: Entry

Tim: okay so like you’ll plan a trade thoroughly and make sure that you’ve got all the ducks lined up and before you take a Trade

Marques: yeah, I would say entry that’s gotten Signet that would say that’s what I’m most I’m predicating okay myself on the most being patient sure you know if I see a breakout is a strong break out you know versus just hey you know it my alert went off 9:35 a.m. I’m not jumping in that right away that can turn right back around and next in it next ten minutes I’ve learned to let the market digest let it do what it wants to do and don’t feel pressured to get in right away because I’ve seen you know when I first started trading know I get me to learn 9:31 am getting then the next thing you know I’m down 50 hundred bucks you know the next ten minutes later so with the experience I just known to give things time let things digest and then from there you know I got to be comfortable with what I see so I would say patience getting into a trade

Tim: I like that answer a lot I mean you know the reality is more prep on risk and risk assessment making sure that you have a well-designed strategy is something that most traders should take advice on quite frankly people rush in to positions because they want to be in the market you know and I get it I get the greed element of it the markets screaming up or it’s going down and you’ve been taught how to trade you want to make some money you’re gonna get pulled into that take a step back plan your trade trade your plan I love that Answer  what is your daily routine question number three

Marques: every day it’s like features right away right away features sby crude oil those the main to natural gas to Russell so I check the major indices every morning  usually grindin morning soon as I wake up even if those like 4:30 5 o’clock I kind of like assume what’s happening overnight now I know when I can change by 9:30 but I just want to get it for me I like this a general feel of what can I kind of expect going today then from there I use you’d like to go on investing calm and look the top 5 things to know for the market today I’m just to know what to be prepared for is there a you know as the Federal Reserve having a speech today strong power speak John chacorta’s Friday you know things like that are pivotal because depending on what I’m trading that can kind of dictate how my positions react then I saw that what are my positions what do I need to be prepared for it um do I have my alert set up you know if something is going in directional I want it to  or going against me I’m in then from there I kind of assess okay if this does go against me what’s my plan to do okay so you know if I have a bull put spread and I feel like I’m in danger okay if this Breaks of certain A level I made that turn this into an iron Condor that’s kind of work that’s my daily routine is not as long as it used to be anymore um it’s about what 15 20 minutes

Tim: Yeah well you know I love the process you know news investing calm top five things get the bullet points to move into the market I like that I like the efficiency of it number four what are your trading goals could be this year could be this month it could be daily whatever it is you want what are your trading goals

Marques: my goal is to I want to always add minimum bring in anywhere between five to seven percent a month now on a monthly basis I’m looking for at least you know nothing too extremely aggressive but if I can bring in 5% a month you know doing cash flow systems more aggressive trading like you know bull calls long calls but if I can add minimum bring in five seven percent a month plus more you know there are times where you know I’m down a month where I didn’t make money never talk what I made more than what I expected but if it balances out over the course of the year for I’m profitable and I felt like I was a better trader than that was here before that’s what I’m looking for because at the end of the day I want this to be a business for myself so I want to I want to see consistency on a monthly year-in and year-out basis so if I’m able to accomplish those goals on a month and a month out basis I feel like I’m doing the right thing

Tim: I love that it last one what advice would you give a brand new trader

Marques: Keep Goin Keep GoinI’ve had big losses but I’m never quitting never came into my mind because I feel like the reason for why I want to do this is so strong quitting’s never even it’s never even of thought you’ve got to keep going because you’re gonna be questioned you’re gonna question yourself you’re gonna question your system you’re gonna question a person who taught you how to trade you’re gonna the market will teach you that you don’t know the market you know and it’s like you have to realize you have to trust what you’re doing is right because the market will do whatever it wants to do on a day-in and day-out basis and but you just have to have the will card to keep going no matter what keep going keep going in it’s like once you get to that threshold when you first start and you just have a system you know what to do for each situation then that’s when you know you’re on to something that’s when you so because I remember when I first started I started questioning myself like is what Tim and Matt were telling me really true you know I was over positioned size things that so what I had to do was I had to get help you know I got helped by Michael Brooks you know he pretty much he didn’t help me up with any mechanical it was just that I was putting too much into one trait like that was my biggest obstacle you know he liked the way I was trading I was putting too much 20 counts and so but I just remember that time you know what I lost you know but almost like 20 percent my account in a matter of weeks you know that was it was big for me

Tim: I remember talking to you then

Marques:  yeah it was emotional for me

Tim: I remember hearing the emotion in your voice you know it’s why we have community that’s why we have relationships like this marques because none of us especially as retail traders you know I’m in my my office here my home office in Utah you’re hanging out in Virginia you know we’re not exactly on Wall Street with a billion dollar portfolio working for Goldman Sachs right we have to we have to find our to market even against a competitive marketplace that is enormous and so connections like this are important I’ll never forget the conversation you and I had because I’m more experienced than you I’m ten years older than you-you know so and I’ve been around the market 13 years instead of three so it’s literally about a ten year difference between when you started and I started and it reminded me of moments I had when I was a new trader and you’re like holy cow Tim the market just crashed and I got beat up bad on this position I and that was hard for you wasn’t it  

Marques: it was starting all over again now that was all cuz I felt like I was doing so well up to that moment  so low and I’m just like I’m asking myself like how could this happen to me you know like what was the point of me putting in all I work in the first time in the first place you know it just I just like I put it all to waste

Tim: You ever read this book

Marques: I have not

Tim: mandatory reading for you young man okay

Marques: I will do

Tim:  you know how to spell reminiscences new bags missus of a stock operator by Edwin Lefevre one of the best trading books of all time written almost a hundred years ago actually Marques you’ll notice it’s an old copy I’ve spilled coffee on it marked it up several times in one of the lessons he talks about in this book is losing money and how he wanted to quit and then eventually one of the best lessons I learned from this book more than almost more than anything else because he doesn’t ever teach you know how he’s trading well I’d say there are two lessons number one trade with momentum the whole idea of reading the tape is if the tape is going up or down in price then you play the tape you play the momentum right you know number two is is if you have a rough patch in a market go to new jersey or go to florida or go fishing for a month and Jesse Livermore talks about that when he’s not trading well he gets out of the market and goes and takes a break and lets  his brain reset because when you’re dealing with the motions and you deal with an extreme drawdown like that well you’re doing well and you’re doing well and you’re doing well you’re doing well and then boom the market hits you right in the face and you have a drawdown and you’re looking at your like thought I was better than this you know I thought I was good enough to see this and do something about it I was trained to recognize it but it happens the best of us dude I’m telling you it does

Marques: It was what happened to me  yeah but I would have to say greed got in the way of that loss greed got  in the way you know well yeah I’ll never forget that so that’s that’s one of my stories down the line you know maybe no the way you are talking to me I can convey to somebody else

Tim: this is why we call it tits by the way That’s right apologized if I offend you I’m not easily offended Marques you’re good man good job on this one I’m gonna you know just tell everybody out there listen to the advice Marques just gave you through some rough patches and you’re gonna have them not just in trading but in life you got to keep going you got to keep pushing awesome job Marques and we will be back next week with another one of these deals

Legal Disclaimer

Trading Justice LLC (“Trading Justice”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Trading Justice strives to make the information accurate, thorough and current, neither Trading Justice nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Trading Justice harmless from all losses, expenses, and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Trading Justice’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involve a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax, and accounting advisers, to determine whether such trading or investment is appropriate for that user.