What should you learn how to trade first?
Stocks, options, Forex,
cryptocurrency, futures,
I dunno, Beanie Babies, who
remembers Beanie Babies?
Anyways, it's a valid question
and something that comes up quite a bit,
and just to set up a little bit more
of the landscape, context,
I've had, and these are just a couple,
but I wanna share a couple
different thought processes
that are out there, that who knows,
maybe you have the same
exact thought process,
I mean you probably do if
you're watching a video titled,
"What should you learn
how to trade first?",
but let me just go
through a couple of these.
And the good news is,
it's actually a very
straight forward answer,
so by no means are you
gonna get some sort of,
I mean I guess grab a notepad if you want,
but I think at the core
you're just gonna have
to remember two words,
so if you think you can
remember two words, perfect.
But let me, like said,
just walk you through
a couple different
comments I got on YouTube,
to set up more so of the broad context.
So Austin says,
"Hey Clay, I'm a beginner to penny stocks
"and options trading,
"looking to get started
with my trading career.
"Do you recommend, I
learn penny stocks first,
"or just go right into options
"as I've seen one of your videos
"where you favor options trading,
"I'd like to be part of
your community as well.
"Just let me know the
beginning steps, thank you."
And then Danny says,
"Hi Clay been a fan for over a year now.
"I'm not able to trade
stocks where I'm from.
"However, we are allowed to trade Forex.
"If possible, could you recommend
someone who teaches Forex,
"lots of scammers out there."
So you get the idea, right?
And it's maybe not necessarily
what should I trade,
but hey, because I can't trade this,
do you know somebody else
who might teach a certain area of trading?
But at the core, this question here,
which again, when you're brand new,
when you're just getting started,
you're not stupid for thinking this way.
I'm not saying that at all.
In fact, I would argue,
you are being very logical.
You are being a rational human being.
But this is where the
markets get a little tricky
because it's not a question of,
well, what do I learn how to trade first?
It's all about learning about,
well, how do I answer a single question?
And this question
pertains to all of these.
The question being this right here.
What direction?
What do I mean by what direction?
Well, what direction do I think a value,
do I think a price is going to move?
Do I think that value is gonna go up?
Do I think it's gonna stay the same?
Do I think it's gonna go down?
And what sort of timeframe
do I think it might move up
or down or just go sideways.
Right, that's a question where
I don't care what you're trading,
you need to be able to
answer that question.
So for example, let's just say,
well, learn about options first.
Learning about options and how they work
and how they behave is not
gonna do you much good at all,
if you have no idea how to
answer that first question
of what direction do I actually
think is going to occur?
And the same is true for anything else.
I don't care,
well, I know what a stock is,
it's a part of a company or,
well, I know how crypto works
and I know how blockchain works
and that's fine.
I'm not saying that that
stuff is totally useless,
but at the core you need
to first just be good
at figuring out what direction
do you think an asset price
or value is going to move?
So that brings up the question,
okay, well, is there anything
out there that can do this?
That can actually force you to be good
at deciphering and coming up
with, again, no guarantees,
but be coming up with plausible
and logical thought process
of, yeah, I think a price is
gonna move in that direction
within that amount of time
because of this, that and the other.
And if I were to look at
this, that, and the other,
I would say, all right, yeah.
I mean, not guaranteed,
but that's a rational way to go about it.
I can see why you would
be thinking that way.
And there is.
So this is the tool, instead
of looking at this first,
let's cut this out and
we'll come back to it,
but in order to figure
out, well, what direction?
Like I said, either write it down
or just remember two words,
technical analysis.
Or in other words, this is charts.
Maybe you've seen them before.
They kind of looked like the matrix,
but I promise they're
not as bad as the matrix.
They're pretty straightforward.
But if you learn technical analysis,
at the core technical
analysis is not for stocks.
It's not for options.
It's not for crypto.
It's for anything that
has a value attached to it
and then as time passes,
that value changes.
So ask yourself,
okay, under those circumstances
has a value attached to it,
and then that value changes
and fluctuates over time?
Well, you can look at that list
and each and every one of those things
has a value that changes over time.
So therefore you don't need to worry
about which of these you learn first,
learn about figuring
out and getting good at
well, what direction do I actually think
a value is gonna go?
And once you learn that by
using technical analysis,
but at that point,
this is where you come
back and figure out,
okay, well, which of these
do I think I want to trade?
Now, just because you know
what direction you think
something's gonna go,
doesn't mean that you're
ready to trade it.
For example, options, well yeah,
you got to learn some of the
terminology about options.
You got to learn about the Greeks.
For crypto, you gotta learn
about, okay, how things work.
For futures, you gotta learn
about, okay, what's a tick?
How does it tick work?
What's the value?
And I mean, each of these
have little intricacies here
that you'll still have to learn about,
but by answering and knowing
how to answer that question,
you're basically 80% there.
You have 80% of the knowledge
that's gonna be required to
actually trade consistently.
Everything else is kind of just FYI.
It's learning terminology
and learning how something
works a little bit.
But like I said, at the core,
no matter what you're trading,
if you don't know how,
or you're not very good at figuring out
what direction you think
is actually going to be
occurring with that asset,
then it doesn't matter
what you learn about first,
because it's all about
learning about the direction
at the forefront.
So to those people who are going,
I don't know what would be
the best learn about first,
you're focusing on the wrong thing.
Learn technical analysis first.
Learn technical analysis,
get really good at
figuring out directions.
And then at that point you can come back
and you're gonna have a much better idea
of what you would feel
comfortable with in that regard.
So hopefully this helps,
I get it, it's again,
if you were clicking on this
'cause you're wondering the same thing.
Yeah, I don't know what should
I be learning about first?
That's fine.
That's fine if you're focused
on these things instead,
you're a rational person,
you're acting in a very logical way.
So congratulations on being
a logical human being.
But like I said, tricky
part about the markets,
sometimes they want to
send you down pathways
that don't really make sense
as far as a logistics standpoint
and that's why, let's just get good,
and I want you to focus on
getting good at figuring out
what direction something moves,
which again can be,
learned by focusing on technical analysis.
So if you have any other
questions or anything like that,
please leave those down below.
As you saw from this video,
I do read comments,
sometimes common spur
on ideas to make videos.
So yeah, read comments,
questions, suggestions.
Leave those down below.
If you enjoyed this video
hit that like button
and also check out the channel as a whole.
I get it, this is a very basic video,
but there are more advanced
videos for those of you
that are have maybe more experience
or you're just looking to learn more.
So check out the channel as a whole
and hopefully decide to
hit that subscribe button.
But yeah, get out there
and get really good at that question.
What direction do I think such and such
is actually going to move?
First off, thanks so much for
watching the entire video.
Real quick, before you go,
I want to invite you to a live webinar,
web-class, training,
workshop, online event,
whatever you want to call it,
but it will be me live revealing to you
what I discovered that has
allowed me to transform myself
from being an employee,
to being my own boss,
including how I had only one losing day
out of 73 days in total.
I'm gonna cover three keys
that have helped me unlock
profitable consistency
within the markets.
The first key is super weird,
but in a productive type of way,
the second key is super awesome
because it quite literally is
wired into our DNA as humans,
making it very easy to use,
but in a cruel way, this becomes
a pitfall for many traders.
I'll explain it all though,
including how to avoid the
pitfall that it creates for some.
And yeah, the third key when you hear it,
sounds way too good to
be true, but it's not.
And I'll show you how it all works.
Then at the end,
I open it up for a
question and answer session
that is again, totally live.
Even if you can't make the live session,
please still sign up
as it will be recorded.
And you can go back and watch the replay
that I will send you.
Click the image on the screen
or click the link down
in the description box.
So you can get the date and
time and claim your spot,
which I should note is
limited due to the fact
that this truly is a live event.
If you have any questions, let me know.
If not, I'll be seeing you soon.
