Via Clay Trader

Trading is a massive mind game puzzle that must be figured out in order to establish long term consistency. The first piece of the puzzle is becoming self-aware. If you are not able to do this, then all else will crumble around you. My guest from the community, Lisa, is a great example of what the journey of becoming self-aware looks like. I really enjoyed her perspective on things and how she was totally honest with the mistakes she made and her regrets. I respect here for locking her ego away and shooting straight (pun intended) with me about the things she wish she wouldn’t have done. This is definitely an opportunity to learn (free of charge) from someone else’s mistakes and regrets so you can keep yourself focused on the things that actually matter. So, let’s get to it!


Announcer: This is The Stock Trading Reality Podcast, where you get to see the realistic side of a trader’s journey. Get inspired and stay motivated by everyday normal people who are currently on their journey to trading success, and this is your host. He’s willing to bet he has way more internet chat room friends than you do, Clay Trader.
Clay: You know what? I am super proud of it. I have all kinds of friends, literally, I guess around the world when I stop and think about it that I met in an internet chat room. That’s okay with me. That’s okay that I say out loud that I have lots of friends from an internet chat room, but it’s the truth, and it’s something that I believe makes our community quite unique is that people really do form bonds, people form friendships, and it’s neat to see. It’s very neat to be a part of …
Clay: One story that always sticks out at the top of my head is I got a picture from a couple of members down in South America, where there’s a couple of members in Chile or Chile, sorry, but they had met up because they’re both members of the community. They met up and just talked trading, sent me a picture. I mean, it’s awesome that the community, which is an internet chat room can bring people together, and then you hear about it all the time. People exchange numbers, and they’re texting each other. They’re hanging out, and we do meetups and all that sort of good stuff.
Clay: I’ve gone out to Denver to do some extreme hiking with members. It’s really a good time. It’s really a valuable community. Also, it’s been a long time since I’ve done this. So, I promised myself I wanted to and needed to do this a little bit more often, but I get the question every now and them, which it’s a good question, it’s a fair question, “Clay, why do you only do people from the community?”
Clay: Because the history of this, the original idea was to only make this podcast available to members of the inner circle community, but then when I thought more about it, and just got feedback, I was like, “Why not just open it up to everybody? If other people can benefit from it, too, that’s awesome.” That is why it’s only for members of the community because originally, it was only going to be intended for members of the community, so that people can get to know each other better, hear other people’s story, get motivated and inspired, do some learning, but we’ve opened it back up.
Clay: So, again, totally valid question on your part about why do you only have members, but that is why because that’s how it was intended, but we decided to make it public, so that, hopefully, everybody can benefit from pieces here and there.
Clay: As for our guest today, I did not realize it, and I make a note of this in our conversation, but we’re getting overrun by Canadians. Last week, it was Marty. Now, we have Lisa. So, we have Lisa, who’s also a female, and I bring that up because, come on, females, please, female members of the community, reach out. Every single female that’s ever been on the podcast has done an awesome job and Lisa carries the torch. I don’t know. I think women are just more thoughtful, I don’t know. Not that we’ve had any bad guy guest, but you’re used to it. I can barely speak. I’m always slipping over my words, but Lisa did very, very well. She represented the female origin. That’s not the right word. Species? I don’t think that’s the right word either.
Clay: The female sex, there we go. The female sex she represented very, very well. I think I was nervous to say that on a podcast. I’ll be honest. By this point, yeah, the S-E-X word, I don’t know. Even though I didn’t mean it, you get what I’m saying. That was just weird to say, but I was trying to avoid it, but I was just making myself sound like a moron. I realized the irony in that statement because some of you are probably. Don’t turn off the podcast. Please, don’t do that. Everything will be okay. We have some great content. Lisa does an awesome job.
Clay: She’s so self-aware. She’s so candid and honest, and she’s … I mean, she basically said that at one point, she was not like a bad person, but she was a person where looking back in hindsight, she didn’t like where she was at. She didn’t like her mentality. I mean, when you can really admit that about yourself, I really respect that because that just shows how self-aware somebody actually is. So, Lisa holds nothing back. She just gives it to us as is.
Clay: She also asked me a couple of questions that brought up some really interesting talking points, and some things that if you just take it to heart and really listen to what we’re talking about, just please believe us. This stuff is real. It really does apply and none of this is gimmicks or none of this is, “Ooh,” type stuff.
Clay: No. The things that we talk about, because a lot of it is more mental and psychology type issues, but they really do exist and taking advantage of what we say and just adhering to what is really going to set yourself up and save yourself a lot of headaches, and put you ahead of where a lot of people are because they’re just not aware of it or they just don’t want to believe that it actually exists. So, a lot of good stuff here. So, without further ado, let’s hear from Lisa.
Clay: Lisa, welcome to the show.
Lisa: Thanks for having me.
Clay: No. You are in elite group just being of the female origin. I think you are maybe female number five, maybe six on the episode, and we’ve had 200 some episodes. So, I commend you for just representing the females out there. I make this plea to all other female members of the group. Please. I would love to have more female members. I always argue that females are better traders than males because they don’t suffer from the ego problem, the tough guy syndrome that some of us guys suffer from.
Lisa: Not this one. Not this female.
Clay: All right. Well, then we’re going to … Spoiler alert. It sounds like Lisa, I don’t know, I don’t know. Now, have we talked before in email ever? I feel like maybe we have to some extent or am I making that up because as of right now, I feel like I don’t know very much about your journey at all.
Lisa: Very briefly. I mean, I’ve reached out. I was telling you I’m going to buy your course, I’m getting closer to buying your course. Just small exchanges like that. Nothing big.
Clay: Okay. All right. Well, then I am definitely going into this pretty blind, which is perfect. I like these episodes where it’s true like Lisa and I are sitting at a coffee shop, and then you as a listener just get to sit next to us in a creepy kind of way and just observe the whole time because you can’t contribute, but you do get to listen. So, Lisa, where did all this start for you? Where did you hear about the markets? What kind of things played out that put you in a position that made you want to get more active to learn about it and just get more hands on with everything?
Lisa: All right. Well, it all started, I mean, as a kid, I always enjoyed money talk. My family being Italian, no one spoke about money, was very taboo. No one spoke about investments. So, it’s all hush, hush, big secrets. Then I’m from Montreal, Canada, so I did my schooling mostly in business. I went to the States on a full scholarship. I studied business commerce in the States, got my bachelor’s.
Lisa: After that, I came back home to Montreal, Quebec, and I started working at a bank. I mean, the bank was brutal. It was punch in, punch out. They own you, no freedom. That wasn’t for me. So, then I-
Clay: If I may interrupt?
Lisa: Yeah. Please.
Clay: You’ve caught my attention. First off, Canadian, so you don’t have any reference point, but the episode that’s going to air before your episode here is also a Canadian. So, the podcast has been overrun by Canada all of a sudden. Second, you’re in Quebec. So, does that mean you also speak French?
Lisa: Yes. [foreign language 00:08:51]
Clay: [foreign language 00:08:51] Très bien. I know très bien.
Lisa: That’s something that’s good.
Clay: That means very good, right? Doesn’t it?
Lisa: Yes.
Clay: Okay. All right.
Lisa: Good stuff.
Clay: [foreign language 00:09:07] What does that mean?
Lisa: Oh.
Clay: Is that bad?
Lisa: Can you say it again?
Clay: [foreign language 00:09:12]
Lisa: [foreign language 00:09:14] Is that Greek? I don’t know.
Clay: It was in the movie Home Alone. I have no idea what it is.
Lisa: Oh, really? I’ll look it up after.
Clay: Yeah. I’m not quite sure. Well, so, I guess, is English your “second language” then or how does that work in Quebec? Is it just like everybody speaks French and English?
Lisa: You know what? There’s more French speaking folk, but my family was always English, and I did my schooling bilingual.
Clay: So, what would you consider as your first language and second language?
Lisa: It’s tough. It was really a mix, but I’d say French. I think I spoke French first.
Clay: Well, your English is better than my English, and I only speak one language.
Lisa: No, no, no, no, no. No, no, no, no, no. I’m not sure.
Clay: I’m very impressed right now. Then the next question was, I mean, you worked at a bank. Well, actually, another question, full scholarship to the States. What school did you go to out of curiosity?
Lisa: I went to Minnesota Duluth.
Clay: That’s the Golden Gophers or is that a different Minnesota?
Lisa: It’s a different Minnesota.
Clay: Okay. That’s another one of the regional campuses. Okay.
Lisa: Exactly. Exactly.
Clay: Okay. Well, did you play any sports or something or is it just an academic-based scholarship?
Lisa: Yeah. I played the women’s ice hockey.
Clay: Really?
Lisa: I did. I did.
Clay: That is … I mean, I try not to be stereotypical, but, I mean, you’re from Canada and you came to the States based on a hockey scholarship.
Lisa: It was great.
Clay: Now, what position did you play in hockey?
Lisa: I was a center.
Clay: Oh, because you did all the face-offs and all that good stuff, huh?
Lisa: I did. Lots of pressure. It was fun. Thanks to the USA. It’s a great opportunity, really, to give scholarships.
Clay: I say this all the time, but my mind just is blown every single … I mean, now, I can officially … because I always say this, but after every episode, my wife says, “Hey, how did it go?”
Clay: I say, “Oh, I …”
Clay: So, right now, I’m going to be like, “Hey, I talked to somebody, a female hockey player that was good enough to actually get a full-ride scholarship.”
Clay: I mean, the people you come across now I … Yeah. I am definitely a little intimidate now. You speak 18 languages. You know how to play ice hockey. You got a full scholarship. This is very intimidating right now.
Clay: Then the next question that sparked my curiosity that you tried to glaze over, but I’m not going to lie to you, so you worked at a bank. What exactly were you doing at the bank. I mean, I get it. Yeah, you felt trapped. You felt, like you said, just punching in and punching out, but what kind of work did you do there?
Lisa: It was just calling people up like, “Hey, you owe money on your car. I know your car is 10 years old, and probably broken down, but you still owe money. You still got to pay.” I was working in the credit department.
Clay: Okay. So, you were that person that had to call people.
Lisa: I was. I was.
Clay: I mean, I don’t know how the regulations work. So, maybe you can talk about it, but I mean, do you have any good stories or anything you could share?
Lisa: Oh, they’re all just sad.
Clay: Just like you said, cars that are super old, yeah, people still owe money on them, things like that.
Lisa: Yeah, just bad decisions. Humans and their bad decisions.
Clay: It’s crazy to think that we make bad decisions as humans. I mean, I don’t mean make bad decisions, but everybody else clearly makes bad decisions.
Lisa: Everyone else.
Clay: Yeah, everyone else, but I mean, if you’re not aware, Lisa, I am in one spot and then the world revolves around me because I don’t make bad decisions. So, that’s how I walk around, but all right. Well, I’m sure you have a very unique perspective on life just because of that experience. Like I said, I can only imagine some of those situations where you probably just shook your head and said, “Ooh! You chose poorly in that situation,” but all right. Well, you went through all that and I guess you’re at the bank. So, I’ll let you pick it back up there, but from what I understood, you weren’t quite happy at the bank, and then I rudely interrupted you.
Lisa: No, no, no. Interrupt.
Clay: I’ll let you pick back up from there.
Lisa: Interrupt. I’m nervous. I haven’t been as nervous since giving a wedding speech.
Clay: You’re nervous?
Lisa: Yes.
Clay: I had no idea you’re nervous. You’re doing fantastic. So, actually, stay nervous because by being nervous, you are appearing as not being nervous. So, yes, please stay nervous and keep going. Yeah. So, you were at the bank, and pick up from that point.
Lisa: All right. So, I was at the bank for a few years. I just had to get out. I wasn’t a corporate kind of girl. So, I started working at a big investment firm after that. Big investment firm was, “Okay. You start off and you have to make 300 cold calls a day, and you just have to ask people. Call people up and be like, ‘Hey, do you want to come have a second opinion on your investments? No obligation.’” So, I did that, and that’s how I got into the whole financial world. That’s how it really started.
Clay: Can you say what financial or investment bank it was?
Lisa: Yeah. It was Manulife Securities. It’s a pretty big firm.
Clay: You said the number 300, right? Was that 300? What was that number? Every month? Every week? What was the-
Lisa: Everyday.
Clay: Everyday?
Lisa: It was crazy. Everyday. It was just call, call, rejection, rejection, and then you’d get one, you get a few a day, they’d say, “Yeah. I’ll come by. I’ll meet you guys. Why not? Book an appointment.” Then from there, when they’d finally come for their appointment, it would be me and a senior adviser. We’d sit in an office, and these people that would come in, prospective clients, they would just open up their portfolio and show us what they had.
Lisa: Our job was to, well, not me because I was still a junior, but the senior had to destroy their portfolio and put doubts in their mind, say what’s weak, say how it could be improved, try to get them as clients.
Clay: So, even if it was maybe a sound-looking portfolio, the main goal was to try to just twist and turn, to make it, like you said, to put some doubt on the people’s mind. That was the approach?
Lisa: Mm-hmm (affirmative). The funny thing is there’s no sound portfolio. There’s always an angle. There’s always a weakness in everybody’s portfolio.
Clay: That is true.
Lisa: There’s always a way. Yeah.
Clay: If you want to get their business, you focus in on that weakness even-
Lisa: Oh, you have to. Poke, poke, poke.
Clay: Yeah. Exactly. I guess in your case, hook, hook, hook. Does that make-
Lisa: Hook, hook, hook. Fear, fear, fear.
Clay: There we go. Now, hooking, that’s a penalty in hockey, right?
Lisa: Yeah. Oh, yeah.
Clay: Okay. So, my analogy was somewhat right. I mean, I don’t think it was a very good one, but at least there’s a hooking in hockey. All right. That’s all going on. So, you go from hearing sad stories to now just 300 calls a day, 1,500 calls a week, 6,000 calls a month. That’s a lot of phone calls.
Lisa: It’s a lot. It’s a lot. Yeah.
Clay: Now, all right. So, you’re there, and that’s how you said you learned about the financial markets. So, we’ll pick things back up from here, but wow! You’re well-traveled and we’re only, I don’t know, 10 minutes into this whole thing. So, I can only imagine where this is going to go from here.
Lisa: This is the good part. Yeah. So, I was making calls, and then people would come in from meetings. At the same time, their way was, “Okay. Once you’re making calls at the same time you’re making calls, you have to get licensed.” So, at the same time, I was doing my stocks certification, my mutual fund, my bonds, doing all those courses to be a licensed, they call it investment adviser in Canada.
Lisa: So, people would come in from meetings. We get them as a client, and it was all commission-based. So, only once we would get them as a client when I then get paid. So, 100% commission. It was a roller coaster of a ride, but it’s really how I got to see how people would come in, show us their portfolios, and it was sad. They had negative mutual fund returns because this was back in the day where it was more mutual fund, where now it’s more ETFs nowadays, but it’s more mutual fund.
Lisa: So, these people had negative mutual funds, weren’t even opening their statements, and it made me sad. It made me sick a little bit. So, that’s how I started thinking, “I don’t want this for myself.”
Clay: I’m rocking my brain. I don’t think we’ve ever had anybody with that quite of perspective. We’ve had people from the perspective of, yeah, they get their statements, and then they open it up, and they’re like, “I want more control,” but you had the almost opposite. You’re seeing that people aren’t opening up their statements and people are getting bad returns, and yet, they’re not even aware of it. That’s what motivated you to … So, that’s a very unique twist on it.
Clay: I’m assuming that combined with your previous job in the credit department at the bank, you saw those poor decisions, and now you’re seeing almost like those poor decisions combined with the decisions of people not even checking that sort of stuff, that makes very good sense on why you would be like, “I think there’s something off here.” So, from that point, did you just … I guess, what year was this out of curiosity? Ballpark.
Lisa: That was well said what you said. Ballpark? I mean, let’s see. I graduated 2001, two, three, four, five. I think that’s seven, eight years ago.
Clay: Okay. All right. Yeah. That does make sense because, I mean, ETFs are probably definitely more within the past few years. So, yeah, not that mutual funds, people don’t use them anymore or anything, but … All right. Well, you’re seeing all of this, and you’re going to make a decision. This is very, very sad. So, pick things up from that point.
Lisa: So, yeah. So, then when a client would come, they’d show us their portfolio. We’d look at the mutual fund itself, see what’s inside the mutual fund. I started seeing these stocks, individual positions. I was thinking, “Why aren’t people just buying these positions? Why this thing and these negative returns mutual funds?” For years, they would just stay in it.
Lisa: Then I started thinking, “I could just buy individual positions on my own. Why not?” So, I started looking it up, and that’s how I found the Quest Trade, a Canadian online broker, and opened an account. Yeah, from there, I slowly started.
Clay: What was your goal going in? I mean, I see you wanted to buy your own individual positions, but were you looking at this like, “I’m going to buy and hold for the next 30,” or “I’m going to buy and try to sell next week”? What was your “strategy” going in when you opened up that Quest Trade account?
Lisa: I feel like I was such a different person back then. Around 25, 27 years old, I was shallow. These people, the senior advisers were driving Porsches. So, I kept thinking to myself, “I need to make the money. If I could just make money quick, I could live this lifestyle,” but truth was, it was all fake it till you make it, all these Porsches. Everything was rented. It was all just perception to show off, but yeah. So, I just wanted to make quick gains. It’s really what it is. I’m gambler by nature. Maybe not a gambler, but tendencies to be a gambler by nature.
Clay: I mean, that makes perfect sense. I mean, now in hindsight, you realized all that was just an illusion, but at the time, I mean, if you see all these Porsches and all of these fanciness around you, then I mean, especially you being 25 in that age, I mean, “Well, I want that. Let’s get to that. Let’s hustle. Let’s put the grind on and …” So, I mean, that would make sense why you were in it. So, your goal was probably lose day trader in terms of, “I just want to make money as fast as possible, so that I can reach and drive my Porsche,” or whatever like that.
Lisa: Exactly.
Clay: So, I mean, how did that go then? You have the Quest Trade opened, you want to get that Porsche. I mean, did you have the Porsche within the next couple of weeks or maybe something else?
Lisa: No. I don’t know. I was self-taught. I just had an idea in my head that if I just really get to know one or two stocks, if I just watch them, because since I was making calls day, I had the screen open, I had the tab open, Google Finance. I could just keep that open all day long and really get a stock, really watch it, get to know it.
Lisa: So, I started buying little dips. A few sense later, I would sell and so on. I would do that few times a day. Try to make 20, 30 bucks, 20, 30 bucks a pop. Then I started learning about earnings. Then the earnings, that was a big chapter of earnings. It was going well. I was like, “I’m so good at this earning thing. Blackberry, they’re going to have earnings, for sure, I believe in this company. I have a Blackberry.” Then the earnings would come out. It would go well.
Lisa: So, for a bit, the earnings were always going my way. Then the earnings started going not my way. So, then I started losing money, big, big amounts of money. Well, big for myself. A few thousand dollars was big at that time, working on commission, it would sting. So, yeah, chapter one.
Clay: Now, when you were doing the earnings, so, you’d figure out, “Okay. Let’s just say that earnings are going to be Tuesday after the market closes.” So, were you going and buying Tuesday during the day and then waiting for some sort of movement to the earnings or were you buying a little bit ahead of times? I guess, what was your earnings strategy that was working like you said, but then it stopped working? I’m guessing it was some sort of locating companies with earnings and then you’d buy pretty close to that earnings report.
Lisa: Yeah, not even, just really mostly Blackberry. I had focused on one stock. Yeah, I’d buy at the day before and just hope for that big increase when the earnings would come out. I guess I got lucky at the beginning for a few times. I got cocky about it. I mean, I won’t even look at the charts. I wouldn’t read up on it. I’d say, “Oh, earnings are coming.” I look at the chart briefly. I didn’t know what I was looking at, but I was just positive thinking. I’m like, “I know it’s going to go up tomorrow. I just know it.” It was just like that, just gambling into the earnings.
Clay: That’s funny. I mean, that’s how fool’s gold works. You know that’s going up, you know that it’s going up, and then it actually goes up. So, then why would you not have confidence in yourself because you said you knew something was going up and it goes up, and then that’s how the market just lures people in. As you know, people show up and they don’t quite realize how much they should be tiptoeing, and then they make statements like you said, “I have a Blackberry. I believe in this company. This thing is going up. See? It went up. I told you so. Boom! Market, pay me.” Then that snowballs in the fool’s good thing. Was it Blackberry that ultimately started to take away your money then, too?
Lisa: Yeah, Blackberry, and then I dabbled into Groupon. It was similar. I got lucky, and then I really didn’t. So, then I had to just stop. I said, “What am I doing? This is just not working.” At the same time, I left that investment firm, and I became an independent adviser myself. I was on the road. I became a broker, but an insurance broker.
Lisa: So, by then, I got insurance license. I started seeing clients. So, I stopped trading for a few years. Then fast forward, then I stopped being an adviser because the whole 100% commission, it was too hard to get a mortgage with that lifestyle. So, then I was fully licensed. I said, “Oh, I could be someone’s assistant.” So, I became an assistant to another firm. So, 2017, I started trading again. I injected money in.
Lisa: Again, same strategy. I had no education. I would just watch a stock. I guess I was obsessed with Blackberry, and watch Blackberry, Groupon and just watch it. That’s when I said, “Okay. No more earnings, but I’ll do the small dips again.” Four, five, six cents, I’ll make 20, 30, 40 bucks and sell. That seemed to be working.
Clay: Well, it seemed to be working until it stopped working or keep going? I’m on the edge of my seat here. So, you’re buying dips and it seemed to be working.
Lisa: Actually, this is a crazy story. So, what I did was I started following you I’d say 2016-2017. I was thinking, “One day, I’ll buy into his course, but I’m just not ready yet, but how about if I buy just the inner circle? Then I could see people’s stock tips and maybe I could follow their tips.” I have to be honest. So, that’s what I did. I bought the inner circle in 2017.
Lisa: Then I had a vacation coming up in the summer. I had a week off. So, I said, “You know what? I’m going to stay home and pretend I’m a day trader,” because that’s what ultimately my dream would be to do what you do, to day trade. That would be my ultimate. Do something else maybe on the side, but really to day trade.
Lisa: So, then I was home ready to day trade. I kid you not, I opened your inner circle, and the first person said something. They said something alluding to shorting a certain stock. It was like M-Y-O-K, myokardia.
Clay: Okay. yeah. That one sounds familiar. Yup.
Lisa: Yeah, and I shorted it. I had no idea what I was doing. Again, no education, didn’t even look at the chart. I was like, “Oh!” It wasn’t even you who called that stock. It was someone else in the inner circle. I shorted it. It was the opposite-
Clay: Have you ever shorted before?
Lisa: I think I was shorting Groupon, Blackberry here and there. Self-taught.
Clay: Okay. All right. Good. At least it’s not this is your first time ever shorting. So, good.
Lisa: No, but it was still as a side surf, so I shorted it.
Clay: Yeah. I mean, don’t get me wrong, Lisa. This is still pretty bad, but I mean, I guess it could have been worse. I’m trying to look at the glass as half full here for you. So, good.
Lisa: Sure. It could have been worse. It could have been worse. So, yeah. I just go ahead and I short the stock. Then I guess there was positive results. It was a biopharmaceutical company. So, some tests went well. The stock went up. I’m just sitting there. I’m like, “Oh, maybe it’s just some kind of little bounce. It’s going to go down for sure.” It just went up, up and up and up and up. Right now. I think it’s at $40. Let’s see. It’s $36. I took notes. It’s at $36. I shorted it when it was 17.
Clay: Wow!
Lisa: Anyways, I lost a lot of money, yeah. I got … What’s it called? I got margin called. They sold me out the next day. I lost $4,000 on this one trade.
Clay: That’s a big move.
Lisa: Half of my account.
Clay: From 17 up to whatever they call it. Now, for listener’s sake, real quick, what is a margin call? A margin call is basically, if you go short because, again, for listeners, if you’re new shorting just means you make money when prices go down, but because price can theoretically go up as high as the moon, price can go up forever. A broker has to protect themselves, and they protect themselves by saying, “Listen. If something goes too far against you, then we are going to just …
Clay: We’re going to close a position for you because we can’t take unlimited risk. We’re not going to let you blow up your account on margin, and then all of a sudden start to eat in to our profit, our money as a brokerage company.” So, that’s why margin calls exist where if a short position get too much out of control, they will “margin call” you, which is their way of protecting themselves and forcing you to liquidate the position, which they did to Lisa.
Clay: I’ve never had a margin call, but how does that work? Do you literally get a phone call or do they just send you an email and lets you know online that they’ve liquidated your precision?
Lisa: They do it. They sell you out, and then they sent me an email. I mean, I called them. I tried to argue it, but the stock just kept going up. So, I was really just a fool in all this. I don’t know I didn’t stop-loss. I mean, I had a thing. I’m such a persistent person, I feel. I’m determined. I want to day trade, that the persistence sometimes is bad. I just don’t stop-loss. This was a big case of my first experience of not stop-lossing.
Lisa: To end it on the positive, so that was in August of that year. So, then the rest of the year, I traded again Groupon and Blackberry. I had to inject money into the account, put it back to $10,000, and I started making trades again. Each day, a few trades, each day. In the end, I ended up making money that year. I was up by $2,000.
Clay: Well, that’s a nice recovery from being down what you said the 4,000 you had lost on that trade.
Lisa: Exactly. I had to put more money in, but then with the more money in … I like to do big positions also. I’ll go in like 3,000 shares, and I’ll go up four, five, six cents, and I’ll sell out. Also, probably, I’ve realized not smart going in such big positions because you never do that. So, again, not educated. This was all me and just going out and playing, playing around as if I’m at the casino.
Lisa: So, then I made money, and then I don’t know if it was a good thing I made money because then I became a little arrogant. I would go around to my friends and family.
Lisa: They would say, “Oh, Lisa, how’s work?”
Lisa: I’d say, “Oh, work, whatever. I’ll just work a few more years, and I’ll be a day trader.”
Lisa: Yeah. I became someone else. I was so sure I’d do this full-time. Then 2018 came, and then another issue, not stop-lossing, bu this time it was with Aurora, the marijuana stock.
Clay: ACB? Okay. Yeah.
Lisa: Yes. Oh, the big ACB. It was going well. It was going well, and then at one point, it was hitting the $16, and then I know you made videos on this, and it just dropped. Again, no stop-loss. Again, it’s like I didn’t learn my lesson, and I was stuck in it. I just stayed in it for months and months and months. That year, 2018, I lost money. Then 2019, I said, “This is it. I’ve been a fool for too long. I’m going to get Clay Trader, the first installment.” So, then I did it. I pulled the trigger. I bought it. Yeah. It was the greatest decision.
Clay: Well, good. I’m glad to hear that you feel it was a good decision. On an ACB, I would assume that you ended up selling out.
Lisa: I stayed for a long time, really, really too long. I stayed too, too long. It kept dropping and dropping. I had to sell at a big loss.
Clay: Okay, but you did exit the position, which is … because I feel like recently, that one just continued to go down, and it’s even lower than where it probably was, I don’t know, when you sold out, but good. At least you got out of that one because who knows where the bottom for those stocks is right now? Okay.
Clay: Now, you got the first installment. So, did you put a pause on your trading, and then just stop and say, “I need to reassess everything,” or did you just continue to trade as you’re going through the classes?
Lisa: No. I paused, but I just wanted to say to you, Clay, I want to say that your course to whoever is listening, it’s not only educational. It’s informative. It’s worth every penny. I really do recommend it for those that are not sure to just do it. I love this pay as you go. It’s a great option. Thank you for that. Also, what I found was not only you’re teaching, but the way that you process charts, the way that you’re thorough, the way that you walk us through it step-by-step, it’s really been a value to me. It’s really helped my mindset because I’m not a really step-by-step person by nature. I’m far from being an engineer. So, I mean, the course has really helped me in more ways than just education. So, really, I highly recommend it.
Clay: Well, thank you. I’ll send you your paycheck later on. Thank you for saying that. Did you write that script? Beautifully. Beautifully. Well, but thank you very much. I’m glad you’re getting value. It’s a blessing and a curse being a former process engineer because, yeah, I’m all about step-by-step-by-step type stuff. Sometimes it drives people crazy, sometimes it drives me crazy, but I don’t know. I just can’t help it.
Clay: So, good. I’m glad you enjoyed the step-by-step thing and how it walks you from all those points. So, have you gone through all the … Have you made all of the payments yet or are you still working your way through it or where does that actually all stand?
Lisa: I’m only at the first installment, and I’m blown away by the amount of information. So, I did a thing where I listened to it. Each course, I’d listen to it once, then I’d listen to it a second time, and take notes. No, I was not trading.
Clay: Each video you mean, not each course? Okay. Yup.
Lisa: Each video. Sorry, each video in your course. So, I double listen to it. I take notes just to reprogram myself a little bit because I feel like you’re my indirect mentor. So, I feel like I need to take it that way like you’re teaching me something. I need to … This podcast has really been … It’s been therapeutic for me to go over my last few years, and to really try to see my reasonings from my mistakes, and my strengths and weaknesses. All together, I’m just trying to become a new trader. So, I’m really approaching it with respect. So, I’m taking my time with the course.
Clay: Well, I really appreciate that because I hear that all the time from people, “Hey, I want to be a new trader. I need to fix my ways,” and they’re running their mouth, they’re talking, they’re talking, they’re talking.
Clay: Then I was like, “Okay. Well, you should do this, and then you should do that.”
Clay: I’m not even referring to, “Hey, you should invest into my program,” just, “Okay. You should probably just stop trading right now and focus on this, that, and the other.” As soon as it comes time to actually take some action, yeah, all that talk about wanting to change as a trader and improve as a trader, it goes out the window, but, Lisa, I’m glad that you’re not only saying that you want to change, but you’ve actually put some money where your mouth is, and you’re currently going through that process. That’s definitely a much bigger step than a lot of people ever make, and then they either get burned out from discouragement or their accounts just burn away and they’re like, “All right. That’s it,” but you’re definitely on a different path, which is good.
Clay: Now, you had mentioned some strengths and weaknesses. So, what would you, right now, what are some things from a strength perspective that you think you’re … Things are looking good for you from that point of view.
Lisa: Hmm. Well, I do have all my records from the last few years of all my trades on Excel because I know that those bad losses, I mean, they’ve really hit my confidence, but all in all, I have a pretty good positive, let me say like percentage of being right or wrong. I’m often right and when I go into a trade. So, maybe I’m thinking that’s why it’s so hard for me to kill a trade to just sell out of it because I was so used to being right. I’m more often right than wrong, but I guess that’s a strength. I see that being a strength.
Clay: Well, can I?
Lisa: Yes.
Clay: So, I don’t know if this is a case, but we’re just talking out loud here. Now, let me get a little blunt. When you’re wrong, does the wrong wipe away basically all the times you’re right?
Lisa: Oh, yes and more. It hits hard when I’m wrong. I’ve only been wrong majorly just really a few times, but yeah, it’s like I get stunned or I’m just so stubborn. I can’t believe it.
Clay: So, can I give you my two sense from personal experience?
Lisa: Please. Please.
Clay: Okay. This is what, I mean, I don’t want to sound arrogant and say, this is what, for sure, happened, but I’m highly confident this is what’s going on. So, sure you’re “right” a bunch of times and you get those winning trades, right? So, are you defining being “right” as a green trade? Is that how you’re defining being right?
Lisa: Yeah, if it’s $20 or more.
Clay: Okay. All right.
Lisa: Yes.
Clay: Let’s look at things from a habit perspective. Sure you ended up making money, sure it was a green trade, sure you’re “right”, but did you break a whole bunch of rules in order to get to that? Meaning, did you hold and hope, and hold and hope and, “Oh, see? It bounced.” Then you hold and hope, “Oh, see? It bounced.” Okay. Well, there you had two winning trades. That’s true. You were “right” in those two instances, but the underlying habits, I mean, weren’t exactly good. They probably should have been losing trades.
Clay: Yeah, they would have been losing trades, but they would have been small and in control of losing trades. Whereas the times because of those habits where it never bounces as you’ve said, well, all those right trades are now gone. That’s what I’ve experienced is, “Wow! Clay, you’re in a huge winning streak,” but then if you’re honest with yourself, especially when you’re first getting started, you’re like, “Well, technically speaking, that was a winning trade, but I broke a whole bunch of rules, but then it ended up going in my favor.
Clay: So, yeah, on paper, that was a green trade, but from a habit perspective, all it takes is one of those to burn me because of that bad habit, and that’s going to really hurt me. So, I think that might be something … Does that sound maybe possible? If you’re being totally honest with yourself, do you think some of those winning trades were a product of you breaking some rules in the first place?
Lisa: Yeah, you’re right. Yeah, I think that’s it. I think that’s it.
Clay: Yeah. A lot of times, and it’s hard, and I get it. I was like, “Well, yeah, that could have been a losing trade,” but being wrong a lot more than being right, but as long as those wrongs are just small, controlled losses, then it only takes a couple of those bigger ones, and then the reverse happens, which you’re going to be learning more and more about, but just a different perspective on … because I get it. It’s like, “I don’t know. I’m so used to being right. Why would I sell now?” Well, yeah, but the problem is the only reason you’re right all those other times was because you’re breaking rules and you’re breaking rules right now, and if it doesn’t work out, then you get it. Does that make sense?
Lisa: That’s the answer. Yes. I think that’s it.
Clay: Okay. Good. Yeah, because paper can be a little deceiving. Brokerage statements can be a little deceiving because there’s no column in a brokerage statement that says, “Good or bad habits were the underlying issue of this trade.” That’s just something to keep in mind. Can I give you a strength?
Lisa: Yes.
Clay: A strength is you’re actually open to feedback. So, that’s good. I get sick and tired of people as soon as they’re getting feedback, “That wasn’t very nice. What are you doing? Don’t you know what customer service is? The customer is always right.”
Lisa: Oh, my!
Clay: No. Sorry. In trading, the customer can be a moron. I will tell you what a moron is because I was King Moron when I got started. So, I know what a moron looks like. So, I appreciate you taking the feedback and not like storming off the podcast or threatening to cross check me or something into the boards.
Lisa: No. I appreciate your feedback.
Clay: Then another talking point, which I think is always worth talking about and bringing up is another strength is very clearly, persistence and that’s not like a great discovery on my part. You don’t get a full ride to college on a hockey scholarship if you’re not persistent, if you don’t have a work ethic, if you’re not dedicated, disciplined, all that sort of good stuff. Then, of course, that’s probably weakness, too, like you’ve already elaborated on because you do want to get it right, and you do want to get it right. That probably taking those losses a lot harder.
Clay: Yeah. So, I mean, that’s something that I would probably … It’s a two-edged sword. Welcome to the world of markets, where persistence is definitely needed, but persistence, also, can be a very bad thing when it comes to the risk management department. So, do you feel like you’re getting maybe a better grasp on that? Are you getting a new perspective on those things or do you think that still has a chance to spring back up and grab you?
Lisa: Oh, yes. Now, I’ve realized that, like I see you trade on your live videos, and it gives me a rush. I’m like, “Oh, it would be great to be like that.” I really think that because I’m sitting on my desk all day and because I could watch one stock, I could actually see it, I live to get to know one stock. I like to see it go down, go up, go down, go up. So, really, right now, I found another stock. I guess I could tell you. Century Link, CTL, it’s a US stock.
Lisa: I mean, it goes up, but it doesn’t go up by much, 15 cents, goes up, goes down the day. So, now, I’m getting to know that stock. As soon as I … Not that I am wrong, but as soon as it goes down, it doesn’t matter if I’m right or wrong. I’m starting to get used to just getting out of it, seeing somewhere at it a little bit. I’ve been starting. This is a beginning for me to cut my losses early, cut, cut, cut because it can’t happen again. I feel like I’ve been … I can’t get a big hurt, a big stop-loss again, not stop-loss, but a big margin call. That can’t happen to me again.
Lisa: Now, it’s like it’s hurt too much, it’s a little embarrassing. I’ve told people I want to be a day trader. I have to prove to myself I could do it. I have a few years under my belt. I bought your course. I feel like my mindset when I go into the trading, I don’t know if you feel this way, maybe because you work out prior, I think, but I have to be very zen. If I’m worked up, it’s like I’ll get out of a trade, I’ll buy, I’ll sell, I’m like, “Yeah. I’m in the green. Let’s go. Let’s go. I have to get in the trade right away. I can’t miss out.”
Lisa: So, I need to be zen. I think that’s the challenge to everyday just come in with a zen mindset. I don’t know if you get that, too. You have to-
Clay: Oh, yeah. No. I mean, I grew up playing sports. I get the whole “Let’s go. Let’s go” type thing. I get it. That’s totally … but that will get you slaughtered in the markets. What helps me and what you’ll be learning about as you make more of the payments as the pay as you go, is that there are certain ways when you structure a trade plan that it will make things … Once you get used to it, it’s not like it happens right away, but all of a sudden, because you know how to properly structure a trade plan, you’ll be like, “Oh, yeah. I mean, I want it. Let’s go. Let’s go,” but that trade plan makes no sense. So, it makes being zen a whole lot easier once you know, “Well, that doesn’t make any sense.”
Clay: So, I mean, “Let’s go, let’s go, let’s go,” I know kids know that you can have that attitude, but running across a very busy street without looking both ways, that just doesn’t make any sense. I mean, you wouldn’t want to do that. As much as you want to say, “Let’s go, let’s go, let’s go,” because you know how to look both ways, AKA, have a trade plan for crossing the street, it becomes very, very obvious, no matter your emotions, what you should actually be doing.
Clay: That’s where you’re headed. I mean, it’s never perfect. So, I don’t want to come across like that. Once you get your chart vision the way it’s supposed to be and you recognize how the frame works of trade plans and all of that and how to properly make sure that your risk is worth the reward and all of that, which I think comes with payment number three, that’s when you get risk versus reward in the trading class, but that makes becoming zen much easier because you’re going to start to really realize when something makes good sense, and once something doesn’t, and if something doesn’t make sense, then your emotions have to take a backseat at that point because logic will eventually take back over.
Clay: I do totally understand and realize and I can relate to that feeling of let’s just get to it, let’s just get to it. Also, the whole thing as you tell people you’re going to be a day trader and you’re a little bit embarrassed, and stuff like that, but you know, at the end of the day, even, and I’m not saying this as a case at all. I’m not trying to say this is what I think is going to happen or anything, but even if you just fail, let’s just say, I mean, that’s not something to be embarrassed about. At least you gave it an honest go, at least you did it the right way. I mean, that takes a whole lot more guts than what most people have in society.
Clay: Most people are just totally here to play it safe. That’s okay if people want to play it safe, but those people that just want to play it safe shouldn’t really be judging people that want to go out there and … I mean, I don’t know. As Thomas said he tried like a thousand times before he got the first light bulb to go on. So, there’s always a give and take.
Clay: So, I would say don’t worry about being embarrassed because, I mean, you’re making a push, and you’re making a jump and you’re trying something that a lot of people never have the guts to even do. Does that all make sense? I feel like I’m ranting right now, and I’m not-
Lisa: Thank you, Clay. No, no, no.
Clay: Okay. All right. Good.
Lisa: I’m taking it all in. Thank you.
Clay: Well, hopefully, the listeners … I can see the listeners, “Hey, you need to let your guest talk more.” I’m sorry, but Lisa is bringing up some … Wait. You asked me. You asked if I could relate. So, actually, apology taken back to listeners out there because I was actually answering a question that Lisa asked me. So, I forgot about that.
Lisa: Come on, Clay.
Clay: Listen. Listen, listeners. If you have a problem, I know a hockey play that is going to rough you up. So, just, I mean, but then again, she’s Canadian. So, you’re probably a super friendly hockey player. Well, so, I mean, going forward, it sounds like your goals are you want to be a day trader. Are you still the assistant? Your job right now, is that what you’re doing as a current field right now?
Lisa: Yeah. Exactly. I’m a licensed assistant. I pretty much, who I work for, he does the sale with a client. He gets them to sign. As soon as they’re a client, then I take care of everything from the servicing to the trades for them, to quotes, insurance quotes, like his right-hand woman, but, yes, I have a salary, a fixed salary. I guess my official title is licensed assistant.
Clay: I mean, I think this is a pretty safe assumption given the whole 100% commission thing was really wreaking havoc on you, but I’m sure you have a lot more peace of mind with the steady salary and paycheck. That’s making life a little bit easier.
Lisa: Yeah. Exactly. I’ve noticed, too, that sometimes I guess from being an athlete because now, I’m a little more washed up. I don’t play hockey anymore. I’m retired.
Clay: Oh, stop there. I mean, you could probably dust … Nevermind. I appreciate your humility. I’m sure you are as you slap shot a 90-mile an hour whatever. Anyways, I appreciate your humbleness, but continue.
Lisa: Yeah. Just being at work because I know the job. I know what I’m doing. I think the trading is an outlet for me. It gives me a bit of a rush. So, I think I was treating it as too much of … I was enjoying the high out of it too much when really I should be looking at it as a business. It’s a second stream of income as you say. It’s not to be looked at because I’m bored at work. I need to get a high somewhere else. So, I’ve realized that’s been a fault I think because I’ve been looking at it that way.
Clay: Beautifully said. I 100% agree. Yeah. I mean, so, here’s another strength, self-awareness, self-identification. Like I said, as a former athlete, that’s gone. You’re not necessarily doing that right now, so you’re looking for some other sort of replacement adrenaline surge, and you’re using trading to do that, but you also correctly identified that’s the exact opposite of what you should be using trading for. Trading is a business, not a …
Clay: Now, if you want to just use it as that, that’s fine, but just don’t call yourself a trader. Just call yourself a gambler that’s using the market to create an adrenaline surge, but you want to be a trader, so that’s why you … I mean, you’re absolutely right. That’s the last thing you would want to use the market for is to replace one adrenaline spike for now.
Clay: The market should not be used as an adrenaline pill, but that’s deep. I mean, I’m tearing up a little bit over here. I’m wiping my eyes. That’s some good stuff right there for you to be able to identify that because, yeah, that is definitely an issue that you’re aware of, and like you said, you’re correcting, but you got any good knowledge bombs like that from experience? I mean, that was really good.
Lisa: Yeah. I was going to ask you. I was going to actually ask you. I know you talked about your beginning hard stage, but how about your middle stage? I feel like … It’s hard for me to just monologue this whole time. So, I want to ask you about your middle stage that you … Were you having about uneven positive-negative trades? Were you still fighting your demons or was it a smooth transition?
Clay: No. I don’t know. That’s a very good question. I don’t know if it’s smooth. Well, as far as fighting the demons, the demons never go away. The voices in your head, the little people that stand on your shoulders and whisper things to you, they never ever go away, but what I’ve discovered and what helped make the middle start to tilt more towards just making good solid progress was just saying, “You know what, Clay? Stop trying to knock the people off your shoulders because they’re not going anywhere. I mean, you are you. You are born a certain way. It is what it is.”
Clay: I mean, you Lisa, you’re always going to be a competitive person. You are always going to be a persistent person. That’s just how you’re hardwired. So, step one, accept that fact that those voices, those people on your shoulders aren’t going anywhere, but then the key is just learning to identify when they stand on your shoulder and when they start to play mind games with you or try to play mind games.
Clay: For me, I mean, I want to chase so much. I see something going up and up and I’m like, “Just pull back. Why don’t you pull back? Just buy right now.” I know that just buy right now voice very, very well. Now, just because I have the voice that tells me, “Hey, just buy right now,” it’s not going to pull back, “Just buy right now.”
Clay: I’ve experienced and I have enough experiences to know, “Don’t listen to that voice, Clay. Do not listen to that voice. You’ve listened to that voice before. He’s never going to go anywhere.” I don’t know. Maybe it’s a she voice. I don’t know what it is, but it’s some voice. It’s just not going to go away. So, the big transition is … So, the middle for me was just accepting the fact that they’re not going anywhere. You just got to learn to identify them and then learn what to listen to or not listen to because there’s been plenty of situations where a voice shows up that says, “Clay, you might want to get them.”
Clay: You know what? That’s the voice. He’s right. Ow, and it sucks. Nobody likes to take a loss, I mean. So, that’s really … Does that any of that make sense because in my mind, that made sense, but I don’t know if that necessarily made sense from an interviewer’s perspective, but does that make somewhat rational, coherent sense?
Lisa: Yeah. It was well said. It’s interesting what you said because I’ve been trying to meditate a little bit. They say that. They say those voices exactly like you said, those voices will come, and you just have to listen to them but let go. You have to let go. So, yeah. I think you’re on to something. It was well said.
Clay: Okay. Good. Yeah, because the minute you just acknowledge the fact that the voices are never going anywhere and just because you have voices because too many people, and I did it, they connect having the voices with you as a trader, “Oh, I was just tempted to chase the price. Therefore, I’m a bad trader.”
Clay: No. If you listen to the voices, yes, that’s a bad trader, but just because you have the voice doesn’t mean you’re a bad trader. That just means you’re a human being. I mean, that’s what separates you. You almost have to become a not human being to become a trader by listening to the voices.
Clay: So, to listeners out there, this is a great discussion. Thank you for asking the question. Again, I want to reiterate that. It is totally fine to want to chase the price. It is totally normal and fine to not want an honor or a stop-loss. It is totally fine to want to just listen to somebody else and then not do your research and then go and note take. That’s fine. It is fine to have those temptations. It is fine for those voices to show up in your trading, but what separates the trader that’s going to last longterm and the trader that’s going to burn out do actually listen to those voices. So, that’s the key. That’s the big thing that once you start to focus on that.
Clay: Too much brain power. I wasted too much brain power on trying to make those voices disappear completely, and then I’d get discouraged if I’d show up. In fact, right now, IBM, IBM … Are you buying a computer or anything right now? Do you have a two-minute chart you can pull up?
Lisa: I am. IBM, let’s see.
Clay: Do you see IBM right now?
Lisa: Well said, Clay, really deep one. That’s good stuff. That’s good stuff. IBM. Yes.
Clay: Okay. Do you see how … It’s literally spiking right now or it was spiking as we talk.
Lisa: Yes. Look at it go.
Clay: Yes. I mean, literally, I was thinking, “Should I buy?” Now, when I say I was thinking, the voice showed up, “Buy. Buy at 153. It’s getting through 153.” As you can see right now, I literally would have bought the top because it’s currently sitting at 150.50 right now in a matter of just minutes. So, right there is that chasing voice showing up, showing up, “Clay, look how high it’s gone. You know it’s going to get through 153, so just buy right now.”
Clay: For you listeners out there, for context’s sake, the high was 152.95. So, the voice has showed up as I’m talking about it, and I’m thinking, “Maybe I should just get a quick skelp as I do this interview. That would be pretty cool.” I know the podcast pretty cool voice. Meaning, they show up and like, “Clay, that would be pretty cool don’t you think if you made a couple of trade while you’re podcasting? You’d be pretty cool, Clay.”
Lisa: New level.
Clay: I’ve learned to identify the pretty cool voice, and no, don’t listen to the pretty cool voice. That will make you do stupid things.
Lisa: Exactly.
Clay: So, I mean, here’s another trick for you, Lisa. Name the voices. Like I said, I have the pretty cool voice. I have the chasing voice. I mean, I have all kinds of voices that pop up, but if you name them, that makes identifying them a little bit easier. Then what you can … Listen. I’m a crazy person. You’re a crazy person. I mean, you literally start to name voice in your head and then you talk trash to them.
Clay: Right now, I’m saying, “See, I told you so, pretty cool voice. I’d be underwater big time right now in a matter of minutes.” So, now, I’m in my mind. I’m talking trash to the other voices in my head.
Lisa: Good. I think that’s a good strategy. It’s a good way.
Clay: I mean, that’s how I do it. You just name the voice. That way, you can identify it better, for me, at least. I’m not saying this is the holy grail for everybody, but for dealing with my mental issues as a trader, I like to name the voices, and just … You’re a hockey player. I don’t know. Do centers talk trash or is that only defensive people?
Lisa: Everybody talks. Everybody talks trash.
Clay: There you go.
Lisa: You have to.
Clay: So, you can talk trash to the voices after you name them, and you’ll be good to go. We’re at an hour, dude. I mean, is there anything else you wanted to ask or say because I felt like that brought up a very good talking point. I mean, was there anything else that was pressing on your mind or not necessarily that you wanted to ask me, but just wanted to share with your experience that you thought or you think may be able to help others?
Lisa: Really just buy the course. I would say buy the course. Don’t try to self-learn out there. I mean, I feel like it could be avoided. These mistakes could be avoided by the course. That’s my true sense.
Clay: Yes. I’m bias, too, but a lot of that really can be avoided, a lot of these little small things that I did, and it’s also why … Just for listeners’ sake, I invest in real estate, too, investing, and I get it, “Clay, you only say all that stuff because you sell courses.” I know, back then, I didn’t sell any sort of real estate stuff, and I went and I invested almost five grand in a real estate investing because to Lisa’s point, you know what?
Clay: Avoiding something in real estate a mistake, I mean, or I should say not avoiding it in real estate, I mean, those are much bigger numbers. That could be a big oops. So, that’s why I was more than willing to invest $5,000 to avoid any sort of oops mistake in real estate because all it takes to Lisa’s point is one thing that could have been avoided. The profit of avoidance, just by avoiding something technically, that’s like making money because a penny saved is a penny earned. So, that’s why I was all for, in a weird way, not even investing into education to learn, just investing to avoid stuff because from that point of view, it’s like a risk management strategy in and of itself.
Clay: Well, good, Lisa. I appreciate the … First off, I’m just glad that you’re finding value on it, but I would encourage you to keep pressing forward. Just know that, especially with the future payments, and when you get to risk versus reward trading on that course, you’ll really start to see all the pieces, and we’ll really start to come together in a big way. Then eventually after the final payment when you get access to the live webinars and all that, yeah, the pieces will continue to come together. So, I guess, really, just keep on pressing forward.
Clay: Before we move into the fun questions here, if you’re to take the time machine, which as you alluded to, you’ve listened to past episodes, so you know about the time machine, but if you were to take the time machine back to the start and give yourself one bit of advice, what would that be? Maybe you already gave your answer there, but I’ll double check.
Lisa: A few. A few things I would have changed. I would have never leased a car. That’s number one. I leased a few cars in my life. One, I’ve leased cars, number one.
Clay: Why do you say that out of curiosity? I mean, I agree, but nobody has ever, ever said, and I don’t even know what episode this is, episode 200 something, “I wish I would have not leased a car.” So, what makes you say that?
Lisa: I just think back because of this exercise with the podcast I went through all this last years, and it’s just a waste of money knowing you’re throwing your money out. I used to drive. I thought it was nice. So, it was a Volkswagen Passat CC. It was a sleek car. I’d stop to get gas, people would be like, “Oh, nice car,” and I’d be like, “This damn car is costing me a fortune. Waste of money, but yeah, fine. See? I have a nice car.” It’s just don’t lease cars.
Clay: That’s good stuff. That’s great stuff. Yeah. So, on the outside, you’re smiling, but this damn car voice is saying, “Yeah.” That’s funny. All right. Well, then what else would you tell yourself?
Lisa: Oh, gosh! Just get educated. I trusted you from earlier on. I trusted you just from your videos and I’m surrounded by engineers. So, I feel like … I guess it’s easier for me to trust an engineer, but I should have just pulled the trigger and bought your course earlier on. I had the money. I mean, I just bought a mattress yesterday for $1,000. It sounds like I didn’t have the money. It’s just decisions. I should have bought your course sooner and have avoided a lot of mistakes.
Clay: Well, now is better than never. So, like I said, you’re definitely on the right path, but I’m going to, just not to be rude, but we’re already over an hour and I feel like, because I find you so intriguing that some of these answers of these fun questions might try to pull me down rabbit holes, and then this thing is going to be like three hours all of a sudden. So, I’m going to keep it. I’m just going to do my best to not let any of this derail us because always the fun questions, you never know where that can take us. So, I’m going to try to keep this as streamline as possible. What is your favorite movie?
Lisa: Limitless.
Clay: Is that the one with Bradley Cooper?
Lisa: Yes, with that little pill and I don’t know if he’s day trading, but he trades stocks in the movie. He borrows money from the sketchy guy.
Clay: That’s right.
Lisa: Yes.
Clay: That’s right. Yes, because his brain power is … I’ve only seen it once, but that’s right. He does get … He starts to use the markets to create himself some cash money. All right. What about food-wise? What do you like to eat up there in Quebec?
Lisa: Oh, in Quebec, the typical Quebec is poutine. Do you guys have poutine where you’re at?
Clay: What’s that? I feel like you just called me a very vulgar name, but apparently you didn’t. So, no. what is that?
Lisa: Poutine maybe in English. Just French fries, gravy, and curd cheese.
Clay: Okay. Yeah, yeah. Yeah, poutine. I think that’s what it’s called.
Lisa: Poutine.
Clay: Yeah, down south here. All right.
Lisa: Poutine. Yeah, different.
Clay: So, all right. Well, I think that’s another first. I don’t think everybody’s ever … but that does sound good. I mean-
Lisa: That’s not my favorite, though. I prefer Italian food.
Clay: Oh, what’s your favorite?
Lisa: Italian food.
Clay: So, like spaghetti and meatballs, and lasagna, and all that sort of good stuff?
Lisa: Yeah, like [foreign language 01:08:01] cannellonis.
Clay: Okay. You’re calling me names again. I don’t know any of that stuff.
Lisa: You’ve had [foreign language 01:08:09] before?
Clay: Is pizza Italian? That’s truly Italian, right?
Lisa: I don’t know it’s originated from … Someone told me it was Chinese.
Clay: Yeah. I just asked because I know fortune cookies that you get with Chinese food, that’s not Chinese at all. That’s straight up Americanized part of Chinese. So, sometimes I wonder like, “Is pizza actually Italian or is this some marketing twist that somebody else put on them?” I lied. See? We’re going down the rabbit hole.
Lisa: I know. Okay.
Clay: I mean, we’re going into the theory of origins of food, which I don’t … I guess, I don’t know. I mean, if people are still with us now, they probably want to hear our thoughts on the origins of this. Then finally, I’m going to switch it up. I don’t ask this one very much, but if there’s one place that you could travel in the world, where would you want to travel?
Lisa: Ooh! I tried surfing not long ago, and I loved it. So, I don’t know if Bora Bora you could surf. I like to go to Bora Bora if you could surf there. That’s my answer.
Clay: Well, first off, I agree with Bora Bora. I don’t agree with surfing because surfing, you just become shark bait and I’m scared of sharks. So, why you would ever want to go surfing is beyond me because all I know is that you look like a seal and sharks eat seals, and you’re just putting yourself at a high risk. From a risk management standpoint, I don’t like, I don’t know, surfing, all that. Sharks is freaking me out. I’ll just leave it at that.
Lisa: For sure.
Clay: Well, wait, and then one final question. Three words, and these three words need to be what you would associate or describe what a successful trader.
Lisa: Hmm. I’d say you’d have to be educated, number one. I should say that. Be smart, educated. Number two, I’d say zen. Number three, disciplined.
Clay: Educated, zen, and disciplined. Well, that’s good stuff. I definitely agree. Well, Lisa, did we send you a mic or do you have a mic?
Lisa: You sent me one. Thank you, by the way.
Clay: Oh, well, no, you should have read the fine print. Now, that means you have to come back anytime we want. So, sorry. That’s what you get for not reading the fine print. Are you willing to come back at some point in the future to update us on everything?
Lisa: For sure. It puts the pressure to make sure I do well, so I could tell you a good story.
Clay: Exactly. Now, are you still nervous or did the nerve finally go away?
Lisa: I’m better. I’m better. You’ve made me feel comfortable.
Clay: Well, good. I mean, if there’s one bit of advice I can give you, it’s just be nervous because like I was saying earlier, when you are nervous, you don’t seem nervous because this was a very good discussion. I enjoyed it thoroughly. Thank you for the questions. That brought up, that dragged us down some rabbit holes. I don’t know if we’ve ever necessarily been down, but that was good.
Lisa: Good.
Clay: I enjoyed it. For you listeners out there, I guess you can sit here and say that me and Lisa are just making this stuff up, but please, please.
Lisa: It’s real.
Clay: Even if you never invest in the course, that’s fine. The talking points that Lisa and I referred to, yeah, it’s real. It really does exist. I’d prefer you to just take our word for it and not going out to learn the hard way. If you do learn the hard way, just remember where you heard it from and not in a “See? We told you so” way, but just, I mean, Lisa, that’s what’s the beauty of this is she’s just a normal person that volunteered some time out of her day to share these hiccups and the road that she’s traveled so far. I’m telling you that there’s some great bits of nuggets of wisdom in this.
Clay: So, Lisa, thank you, thank you very much for taking time out of your day. I appreciate it.
Lisa: Thank you, Clay. We really look up to you. Thanks for being real and honest. Thanks for being you.
Clay: Well, I think-
Lisa: To your team also. Thanks, Nate. Thanks, team.
Clay: No. Don’t thank Nate. He’s already cocky enough. He doesn’t need any compliments. No. Nate does do a good job. Nate does a very good job. Well, thank you for the kind words. I look forward to getting to know you better, and the community. Keep me posted. I mean, now especially. I will not forget Lisa. Lisa is the hockey player from Canada. I mean, so, let’s just keep grinding, keep going, and things are going to work out just fine.
Clay: Now, for you listeners, though, before we go, a final few things. If you’re listening on iTunes or any other podcast players, make sure to subscribe. That way, you get new content when it is released, and especially on iTunes, if you could leave us a rating or even a verbal comment, that really helps us out. Even if you never spend a dime on the site, that’s fine, but all I would ask is that if you do enjoy the podcast, then yeah, that’s a very straightforward, very simplistic way to just help us out, and let us know that you would like for us to keep finding guests, and bring in this to you.
Clay: Then if you’re listening at, on the show notes page, there’s a live chat box there. So, please feel free to reach out, ask questions, comments, suggestions, any of that stuff. Odds are it will probably be me. I guess it’s the time of the day that you’re there, but it could be Nate, but either way, that is a way to communicate with us directly. So, we’d love to hear from you.
Clay: So, again, thank you to all you listeners out there. Thank you, Lisa, and we will see you all back next week.
Announcer: This has been The Stock Trading Reality Podcast. Thanks for taking the time to hang out. To learn more about Clay and the Clay Trader community, including the trading team, premium training, and more, visit

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