The Federal Reserve’s most recent report is attempting to claim their distance from either political party. Troy Noonan, the Backpack Trader, is on to discuss what these recent moves mean for the stock market and how you can leave the 9-5 and achieve financial freedom while building generational wealth through trading.
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Are we seeing the revitalization of conservative civilization? All over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. And it's just the beginning. I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink, and a new conservative age is rising. Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges. And together, learn to live in the present in life of even better things to cover. This is Turley Talks. Hey gang, uncertainty has prevailed in the economy for years now under Biden, and the Federal Reserve hasn't done much to quell the worries of Americans during their time either. Now, the Fed just released one of their twice yearly reports last Friday. And generally speaking, these reports are just typically dry documents that include an analysis of job growth and inflation interest rates and stuff like that. But this one was interesting, this latest one. It had a special section in it entitled "Monetary Policy Independence Transparency and Accountability." This is where they affirmed the need for the Fed to operate independent of political pressure. And many are seeing this as a nod not to just Biden's imploding poll numbers, but also to Trump's surge. And Trump, of course, has been a major critic of the Fed of late throughout this campaign. Now, whether they want to distance themselves or not from the presidential candidates, obviously the economy is still struggling. And with each month of high rates, the economy and stock market continue to lack stability, something that's so desperately needed in order to get our country back on track to being the best economy in the world. Here to help us make sense of what's going on here is trading expert and sponsor Troy Noonan, aka the backpack trader. Troy teaches people like you and me how to make day trading a sustainable way to build the parallel economy as well as leave the drudgery of the typical nine to five job. Just click on that link below to join one of his free live trainings. Good to absolutely love it. Troy, glad to see you again. Always good to see you coming on trying to make sense of the insanity that's surrounding us these days. Yeah, great to be here. That seems to be the ongoing theme, right? The insanity these days. Insanity stays sane in these insane times. I actually came across a field of study. I kid you not. They call our period of time post normal times. We're living in post normal times. That's what even academics are admitting. So, yes, we're trying to stay sane in these insane times. So from what I'm reading, you know, this mention in their bi-annual report here on the Fed distancing themselves from political pressures. From what I'm reading, that was rather unprecedented. So what do you, I'm just curious what you make of that. What do you think is the goal of the Fed in explicitly distancing themselves from the candidates at this point in the race? I mean, I think they're trying to get back to the way they were always supposed to be, right? I mean, I think that the Fed is supposed to be non-political. Exactly. And independent, which is part of their, you know, effectiveness. If you think they're effective, that's another discussion. That's another discussion, right? Yeah. But I think that, you know, they need to be independent because politicians are going to act in their own best interest. Maybe not necessarily in the best interest of the economy. I just think that's an inherent human nature thing. Right. Not that it's anyone's fault. I just think that when there's a problem that's potentially, that could potentially happen, you try to fix it in what I call fix it in the mix, old musician term. When you're, you know, remixing your recording, you try to fix the mistakes. But I think the bigger pictures, you fix it in the system so that you create a system where it doesn't become an issue. And I think the Fed is just trying to be non-political, which I think has always been their mandate. No. Right. Right. Yeah. Right. Right. Certainly a mandate and how faithful they've been to it is holding other story, of course. Exactly. But they, they, they claim inflation is cooling, but they still have yet to lower the rates. What are you seeing? What's, what's your crystal ball telling you? Do you see, foresee a time when they'll, they'll make that change? Eventually. But I think, um, obviously they've got to fight inflation and they don't want it to reemerge or get worse again. And by lowering interest rates, there's the risk of that. So there's like the balancing act of, there has to be some pain in order to keep inflation down. We know what happens when the free spending happens, right? Right. We've seen with, with, uh, by dynamics, that's what brought us the inflation in the first place. Um, I mean, no one really knows for sure, cause it even goes back. You know, it's just the chain of events that leads up to stuff, COVID and all that. But the good news is, is it like, for example, my Turley talk, um, students. Protect themselves because they use the movement in the markets as a result of whatever the Fed does, whether they lower interest rates or not, or raise interest rates or stay neutral or whatever. That affects markets and that creates price patterns that give us. Things that we could prosper and profit from. Right. So we can make trades and whether market goes up or down, doesn't really matter. If you're a trader, you're looking for patterns where the next thing is highly predictable and you can trade on it. And that's what, that's what the Turley talker students have been learning. The ones that have joined my program over the last year and a half or so. And I actually have some good news I want to share with you. Yeah, please. Um, we have a, one of our members, Mike Giles came in through your audience. He knew nothing, zero, like nothing. And now he's not only trading his trade plans, growing his account day in and day out, but this week. He's started hosting a live trade room for us. And he's actually trading live in front of our other students. And he's like, I mean, seriously, from nothing. Wow. I mean, that's how I started. Wow. That's how I started 20 years ago was calling a live trade room, just like. I was a student of someone else's thing and I came in. I started, it changed my life. And now I see 20 years later, he's doing it now. And through these turbulent times, right? He's creating his parallel economy for himself, which is what the whole point is that we're trying to encourage everybody. And we're immune to these sorts of things. Like there's a big trading concept that always teach people. And that is there are things in the world that we cannot control. And even though we try, you know, even if you want the market to go up, because you're in a trade where you make money, you pound the table, thinking that's going to change things, kick the dog, whatever. What I teach people is you surrender to what you cannot control and instead focus 100% on what you can control. Because if you focus on what you can control, what you can't control doesn't really matter anymore. If you follow the system properly, you've put the odds on your side and you come up with a trade plan, an idea, a way to trade that you can prove will make you money before you risk your money. You prove it first. You're practicing it really good at it. And so then when you start trading live, you're ready to trade live and you treat it like a business. And I know I'm kind of preempting maybe where this conversation is going, but... That's so well. Yeah, please preempt away. That's so fascinating. It is. It is. And we don't care if the markets go up or down. I mean, yeah, we want them to go up long term. It's better for everybody. But as a trader and you're trying to make money each day, the markets are going to go down sometimes and we make money going down or up. Doesn't matter. But that's a key again for me. I hammer this almost every time I chat with you because that was one of the biggest eye-opener when I first started to learn what you do as a trader. You're not an investor. This is what you say. I'm not an investor. I'm a trader. The two are different. Can you flesh that out for us? Yes. So, I mean, I do invest also, but I just effort it separately. A trade means you're getting in. You're getting out. You're taking your money and now you're flat. You're not in the market anymore. And so you're not exposed to the risks of the market either. And trading becomes a business transaction like anything else. Like imagine instead, if you're the local dry cleaner and a customer comes in and pays you to clean some shirts, right? Okay, you've just made money off that transaction. They leave another person comes in and this person might be upset because you couldn't get the red wine stain out of the garment. And so this customer is now upset. Well, that's like a losing trade. So some trades win. Some trades lose. But how many people complain versus how many people come in or happy that bring you new business? So we treat our trading like that too. So we know we can't win 100% of the time. We don't need to. We only need to win more than we lose and we have a plan that we could prove will do that. And so then a price pattern occurs. It happens over and over. And it happens so often that we could predict what the next thing will be afterwards with a high level degree of accuracy. And so we can place a trade to take advantage of what that next thing will be after that price pattern that happens a large percentage of the time. And if we're wrong, we're wrong. Sometimes you throw the hook in the water and the fish gets away, but you keep throwing the hook in the water. If you want to eat, then you put out the fish. You hit the mother load ultimately. Yeah. Yeah. That's right. But find your glory hole as it were. Yeah. Yeah. Has the changes in the economy of late impacted your trading strategies? No, because it actually makes it better because whenever there's a change in the economy, things tend to rebalance. And rebalancing means price movement. And so the price movement is what causes the patterns, which gives us the tradable things that we can make money with. So changing in the economy changes in the economy are typically good for traders. If everything just stays the same all the time and there's a balance between buyers and sellers, there's not going to be any real price movement. And you're not going to get those nice patterns that cause those tradable patterns that you can, you know, the tradable events you can make money with. So interesting. You refer to yourself as the backpack trader, and that's what you argue, which I love is you argue that trading is a lifestyle. You've turned trading into a lifestyle where you don't have to be bound to any particular location to make your money. You can go anywhere in the world, wherever you have internet access, wherever you get hyperlinked, as it were, anywhere in the world, you can do what you do. This is your full time gig. You mentioned one of our Turley Talkers. Is this achievable for someone without your trading experience? I mean, in fairness, you've been trading for, I don't want to, I don't want to date you Troy, but you've been trading for a couple of decades. Can any Turley Talker use day trading to leave their nine to five grind as it were? Absolutely. I just told you about Mike Giles, who's a Turley Talker. Now he's not only trading his own plan that he's proven, and he's learned how to do, but he's calling a live trade room, showing the trades he's taking, and that he just started doing amazing. And if any of the listeners want to learn how to do it for themselves, there's definitely a free training I'm offering that they should right now click that link. I'd love to talk to them about that, but just to wrap up that question, next month, I'll be trading from Italy. So, you know, poor me, I got to go to Italy, I'll be trading from there. I have a feeling you and I are going to be going there together. I don't want to steal your thunder, but I'm looking forward to that. Yeah. That's right. If you guys don't know, remember we're going on a cruise. No, several of you guys are coming with us, and Troy's could be with us as well, as well as some other Turley Talk parallel economy creators will be there to just to enhance our wonderful time together. So yes, I know we'll be there. I'm going to be in Barcelona right before then, and just, yeah, this is what excites me so much about what you do and why I love sharing what you do with our audience is you really represent freedom when all said and done. You represent financial freedom is for personal freedom, and you really embody it and live it out. Yeah, it's like how my story started because I didn't know how powerful trading can be and what it could do for your life until it happened to me, and I made a trade and I made some money and I backpacked through Europe for several months, led me to my wife and kids, changed my life, and also bit me with the bug of when you experience that level of freedom, you never want to give it back. You want to do whatever you can to maintain it and foster it and grow it and live that way. So I've kind of my life took a new shape and form way back when that was before the Internet. That was a long time ago. Now you're dating yourself here. I'm hoping we get a good enough Internet connection out on the cruise because hopefully we'll play some trades out in the middle of the Mediterranean, which I'm excited to do. Yeah, we were already looking up that last night. Absolutely. I had a little pro when we did our last cruise in the Caribbean. I think they had Starlink, but it was just getting, they were just doing it and the link wasn't very good. Yeah, so you just wait till you stop, go to a nice cafe or something and normally they'll have a good Internet reception. But no, I think hopefully this this one's a little bit better in the Mediterranean. Yeah, I'm really looking forward to this. This is so exciting. I'm looking forward to so many of our other Charlie talkers getting to know what you do because I'm excited about this stuff. I want to show I want to be able to like in person show people let them push them buttons to and see it's not that it's it's easy to do. You know, the hard part, it's not even hard. You just follow certain steps to create the right trade plan for you that makes sense for you. And then you go through other steps to prove it's going to make you money and then practice it. And then you're we use what's called earning the rights of passage to move from one step to the next. There's a step down that pathway where you start trading live, but you don't do it till you're ready because you want to be in the strongest position you can be in for success before you start. So all that preliminary I call it pre production work is like laying the foundation before you build a house right or any other business. That's what my program is about and it'll be fun to show people and walk them through the process in person on the on the cruise. But I also want to mention that there's another side of trading it's not day trading we call it swing trading and that's really good for a lot of the Turley talkers who are still working I don't want you to quit your job tomorrow and start trading. You have to evolve into that but with swing trading that happens your money is working on longer slower trade so while you're doing your thing your trading is happening also in the background. So you don't have to always be in front of your charts I don't want to I want you like a few minutes a day that's it trading so with swing trading. You set that up in advance you learn how to do it you play some trades they could last for weeks but they deliver really good gains and it's a great way to trade also. Rather than day trading swing trading different but it's really good for a lot of people who can love it right now because they just have to work or they're just not available right. So trading is available to you even if you're not available for day trading you could still benefit from the same concepts the same patterns that repeat with high degree of accuracy what happens next we use the concept the immediate past predicts the immediate future. And that works also on a slower timeframe where you can spend a few minutes a week even monitoring and managing your trades and letting them work for you behind the scenes while you're living your busy life. Take advantage of it like that too. Yeah best of both worlds absolutely astonishing. Yeah gang I mean if you want to experience this kind of freedom the freedom of the backpack trader lifestyle and secure your family in spite of the economy no matter where the economy is going no matter what the market is doing. You can be above it you got to click on that link below Troy's free live training is where you need to go click on that link to hear just how attainable this is for courageous patriots you've you heard it testimonials here not only can you build the parallel economy but you can change the trajectory of your families finances for generations to come you can do this again you can do this that's what's so awesome you can help you should. And you can be under pressure that's key to you don't want to be under pressure so you can learn how to do it so it fits within your life without it without losing sleep without it being a source of pressure it's a source of pressure relief is the is what's good about it so that's awesome yeah awesome awesome gang click on that link below today you're gonna love it thanks Troy thanks for again helping to make some sanity out of this insanity that we're all experiencing it's always my pleasure dr Steve thank you thanks so much for listening this episode of the Turley Talks Podcast don't forget to subscribe leave us a five star review and share this episode with your friends help us defeat the fake news media and rank us the number one news and commentary podcast all over the world come back again tomorrow for another episode celebrating the rise of a new conservative age [Music]
