In this interview, Tim Justice, the host of the Trading Justice Podcast, interviews a trader from our community, Noah Davidson, with 5 fast questions about how why he became a trader, how he’s developed his trading edge and what his trading goals are.
1️⃣Why did you get into trading?
2️⃣What is your trading edge?
3️⃣What is your daily routine?
4️⃣What are your trading goals for the future?
5️⃣What advice would you give a new trader?
Tim: welcome out to my interview series this is Tim justice from tackle trading on the coach at tackle trading and also the host of the trading justice podcast we do a live daily halftime report on our youtube channel at tackle trading as well and I have invited coach Noah Davidson in here with me now as an old friend of mine a good friend of mine I think I’ve known you what 14 years now Noah is that right
Noah: since round oh four or five and I think a long time
Tim: let’s get right down to business I’ve got five questions so these are the same five questions I mean well, in general, I might change that I don’t want to be pinned down to something I said but basically five basic questions about trading and kind of get your perspective okay
Tim: ready why did you get into trading
Noah: good question I started during the dot-com boom and I guess, to be honest, I think it was to get rich quick
Tim: at that time you had a strong financial motive you make some money
Noah: Yep now I wasn’t saying my motive was correct or accurate it probably is what it is
Tim: a man they say fear and greed right you had the greed element
Noah: Yeah when I was working in technology I was you know selling computers for Gateway computers and it was during the dot-com boom and dial-up internet and so I started I opened my first trading account and place my first trade and a dial-up internet platform it was not very sophisticated and I promptly learned how to lose money so the market was going up I still could pick a dog
Tim: so you had to dial in and then process your trade
Tim: so when people complain to me right now about their computer I’m not gonna listen
Noah: No it was kind of sketchy you would get quotes and updates getting a chart was really not common like when I was introduced to the world of technical analysis and charting I had already actually traded for quite a while on dial-up just looking at quotes and not real and fundamental valuations and not really having a clue
Tim: I see what is your trading edge
Noah: boy my edge now is lots of experience that’s my edge overall I’m a good directional technician I understand trends and cycles really well and my edge is I shorten the time frame on trades just to stay in control, controls I think risk is correlated to control
Tim: So Delta direction you know building a plan but th en I think probably the best answer was your first one your experience when you see something you’ve seen it before most the time
Tim: When’s the last time you felt like you got you saw something new they didn’t know
Noah: Um this most recent market correction was a little bit bigger and an amplitude and and some of the behavioural patterns what I think we’re pretty just large like this the scale of the swings you know in points versus percentage like from a percentage perspective it wasn’t much bigger than past Corrections but from a points perspective big point moves and so just that nuance isn’t lost on me
Tim: so this what happened in my first interview I had five core questions but then I always ask follow-ups the follow-ups are all part of that route question alright so I’m only counting five here Noah yeah what’s your daily routine
Noah: pretty simple I think that’s simplicity is the greatest form of sophistication so my daily routine used to always be worrying about all the things I didn’t know I didn’t know and I kept looking further and further for more information and more steps and more processes until I ultimately boiled it down to just the just or very very simplest of stuff I checked the market I checked my portfolio I make adjustments and I open up new business if I once I’ve taken care of existing business that’s basically it
Tim: very good what time of day do you start
Noah: um I usually start about a half hour before the market opens
Tim: so kind of in the morning just before the market opens what are your trading goals, goals and by the way, I did clarify this for Tyler they could be financial system community education to be anything like in your trading in your community in your life with trading what are your upcoming goals for 2019
Noah: well goals for 2019 it’s always for it to be better than I was the last year you know better than I was with consistency trading with less emotion even though we do our best to be systematic and you know very consistent with our trading there’s still that emotional component that I’ve not liked anybody else I don’t think I’ll ever get rid of so it’s just being the better version of me and being more consistent with my trades
Tim: you know part of the reason why I think we all focus on you know progress is because we are emotional creatures as humans we’re gonna make mistakes we’re gonna have fear and greed pop in and for me the reason I have so many rules and design and try to take a lot of that subjectivity out is so that I can put myself in a position where those don’t dominate right and I’m focused on stats all right very good and last question what advice would you give a brand new trader
Noah: keep it simple don’t let your enthusiasm get ahead of your education and work towards mastery of concepts you know whether that simple you know word or entry technique or you know being consistent on your position sizing you’re gonna work towards mastering what skillset there’s enough I think to learn about trading and investing that it’s its kind of like going to a smorgasbord you know there are too many things to fit on your plate so pick and choose what you like the most and you know finish those before you go back
Tim: right well dude awesome first of all does this work
Noah: Yeah this is cool this is fun
Tim: I think it’s kind of cool too it’s just fun it’s the way I talk you know with my buddies like you and my trading friends I did it with Tyler you’re number 2 I think I’m gonna do more of these gonna invite a bunch of traders on here 5 questions I don’t have a name for this thing yet so it is to be named Tim interviews traders is what we started with we’ll see where that goes all right good job Noah Trading.com get in the game make sure you subscribe to our channel like it whatever else you got to do I don’t know everything about youtube
Noah: Subscribe click share follow us
Tim: Click all the buttons right and yeah click all the buttons and well see you guys next time
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