The Biden administration is working overtime to churn out lies and appease the American people that “everything is great” in our economy, but for those of us who are living in reality, we want the truth.
In this episode, I have Troy Noonan, the Backpack Trader, on to discuss how Biden has driven our economy down and how conservatives can make smart investment decisions to bypass financial stress!
Highlights:
- “Whenever there’s turmoil, which seems to be always, it makes for great trading opportunities. And that’s turning lemons into lemonade.” - Troy Noonan
- “The immediate past can predict the immediate future. And from that concept is how I built all my unique strategies that help traders succeed.” - Troy Noonan
Timestamps:
[02:36] Troy’s assessment of the current state of the economy
[06:32] What to do to safeguard your investments and money in general
[09:12] How Troy stays consistent and profitable with his ‘backpack trader’
[12:06] The pitfalls that new investors make and how to avoid them
Resources:
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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 Turling. 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 come. This is Turly Talks. Hey gang, it's me, Dr. Steve, and we're now two months into the new year, and unfortunately it's painfully obvious that the economy is still in shambles, thanks to the current administration. And it's no surprise. I mean, I can't even string a sentence together, if it's written on note cards, let alone lead the country. According to a report from the New York Times, housing and food prices continue to rise throughout January, thus eroding our spending power and deflating our savings. And so really the question for patriots across the country is, how can you and I bolster our income and safeguard against the current government's continuous incompetence? And my good friend and Turly Talks sponsor Troy Noonan is here to help us answer precisely that question. Troy is a highly experienced trader with over 30 years in forex, futures and stocks. He's well known for his successful strategies. And as an accomplished author and mentor, Troy has trained thousands from around the world to trade in the stock market. In fact, he's trained many of our own Turly Talkers, and he's offering our Turly Talker family. The amazing opportunity to attend a free live training, going through some of these strategies and how to use them to navigate these economic uncertainties. Just click on the link below to join. Actually can join right now. It's really awesome. Welcome back, Troy. Great to see you, man. So great to be back. Nice to see you too. You know, it's good to have you back on to discuss, I mean, the current state of things, we get it. I mean, every week I have live Q&As. People are really concerned about the economy. Obviously Biden's administration is working over time to try to assuage those concerns to convince us that everything's fine and dandy. But give us your assessment of the current state of things, especially from the vantage point of a trader. Yeah. So, well, there's two things I always think about. I like to keep things super simple in my own mind. What I used to be able to buy a bag of groceries for 20 bucks. I mean, I can't go into the store with less than 50 for the same few items. And we all know that. We all feel that. It's expensive just to eat inflation, right? From a trader point of view, though, I take a different perspective. Whenever there's turmoil, which seems to be always, it makes for great trading opportunities. And that's turning lemons into lemonade. And what people don't realize is that trading, it seems really hard, because what you see on TV, and when you hear the talking heads talk about it, and a lot of times they're talking in jargon and terms, it's just like a foreign language. But for me, again, keeping things super, super simple. And maybe because like you, we both play music. And, you know, music is such a big part of my life. And I always use that to help me stay in tune. There's a simple thing that I know exists at all times. And that is that there's a psychology that exists in the market. It's always there. It can never hide. And as a result, the same things reoccur over and over and over again. And so what I learn as a trader is to find a pattern that, again, happens every day, all the time, no matter what charts you're looking at, no matter what market doesn't matter, where the next thing is predictable to a high degree of accuracy. And if you learn how to identify one of those patterns, you don't need to do all of them. There's tons, but one, you get good at one, then you could predict what's going to happen next, place of trade, get in, get out, get done, make your money, turn off the computer, go live your best life, and maybe it took you seven minutes. For example, this is an example. Today my trading took 35 minutes. But I mean, yeah, yesterday it was a holiday, but sometimes it does take only seven minutes. So that's it. And then do I need to keep trading? Well, I don't. I get to come back tomorrow and do the same thing again. And little by little, as your account grows, eventually, you just give yourself a raise by moving your finger from the one to the two, and now you're trading two positions instead of one. And as your account grows more, you can continue to go higher and higher. Use the power compounding without over-complicating, without spending all day trading, without learning a bunch of hard things that, you know, it's like people think it's like learning a foreign language or even a musical instrument. Much easier. It's not. And to me, when there's turmoil in the markets and the economy's in an upheaval and all this bad news that we get every day to me that just registers as more opportunity to move the markets, find my pattern, place my trade, and then go off and do what I want. So simple, Tim, way of looking at things. Yeah. No, it's, well, I love the idea of turning the lemons and lemonade. Yeah. Yeah, it's perfect. Again, and I always go back to this distinction. I think it's what you taught me is you're not an investor. You're a trader. Investment is much more passive. We're trading is much more strategic and much more active. And so that leads me to this next question. And so in the midst of what are admittedly very turbulent times that we're living in, just even geopolitically in the like and the economic uncertainty that we're facing, just very practically what strategies do you recommend for individuals looking to safeguard their, well, I would think both their investments, but just their money in general. Yeah. So first of all, I wouldn't tell anyone to not be an investor because I think there is a place for that and you need to be an investor. Investing has become harder and harder because of the turmoil. So trading can become a part of what your overall, I mean, it could fit into your investment strategy, but with a trade, what's beautiful about trading is you can get in, our motto is get in, get out, get done. But the beauty of that is once you're done and you're out, you're not at risk anymore. Like you've got your money, you're safe on the sidelines. Now, that doesn't mean you shouldn't invest, but the type of investing I'm doing now and I'm investing, but I'm looking for stocks that don't have a lot of volatility that maybe have been beaten down, but that pay a nice yield, a dividend that outstrips and outpaces inflation. So I can park my money in some selected stocks and ETFs and investment vehicles like that, where I know I'm getting a dividend that's more than the rate of inflation and more than you're going to get from a savings account in the bank, which is nothing, et cetera, right? So to me, some well selected stocks to invest where you can have a place to put your money where you know it's going to keep up as the money keeps devaluing and the economy keeps spinning out of control and inflation is like, you know, continues. Your money is keeping up with it. The value of your money is keeping up with it because then you get the dividends and you can reinvest those dividends into more shares and build in power of compounding over time. There's a lot of benefits and you can do it in a tax-free account, a retirement account. And even trade, like I'm saying, in the same tax-free account. So you're trading profits. It depends on if you need it now or if you want to build something for the future, but you can literally accumulate your profits in a tax-free, self-directed retirement account and not pay taxes until you withdraw it, or not at all, if it's a Roth. I'm not an expert on that, but I mean, these are benefits to these two ideas, investing. I'm not saying that you shouldn't invest for big growth. Like if you can pick a stock, you know, it's going to explode and like, you know, the dot-com boom back when, right, if you're lucky, you catch that. But most people can't time the market. Most people don't have that level of sophistication. So why not park your money where you've got a handful of stocks that pay high dividends and at least you're growing your balance just passively? Is this the way you've stayed consistent and profitable through these just, obviously, just very uncertain times? It's a way that I'm able to keep the value of my money keeping up with the way the current affairs want to erode the value of your money. That $20 in groceries turning into $40 for the same stuff. It's because the dollar buys much less than it used to. But if you're receiving a dividend that's continually growing your account and it's faster than the rate of inflation, yes, that's one way. The other way is through trading itself because every time you place a winning trade, that's money you're receiving right then and there. So you're growing your account through trading profits. And we're trading things that are not just out of whim. It's not whimsy pimsy. I call it John Wayne trading. I get a lot of people saying, you know, I want to trade this. I want to trade that. Can I use a radar screen to search and blah, blah, blah? I'm like, no, that's like shooting from your hip and hoping you hit something. The trades I'm referring to are part of a trade plan that's proven. I teach my students how to prove it to themselves so they can believe in it and see what did it do and what will it do because you've built up this foundation of belief because you've seen it and you've lived through it enough and then you get good at practicing it and then you start trading it small as a relationship to what your overall amount is that you have to trade with. You trade it really small and that grows as your account grows to big. And so you could sleep at night. And anyway, if you're day trading, you're in and out. You're not even in the market at night. So that's a good piece of mind that comes from that is, I think, really important. There's longer term trading too. There's trades we can put on and I like to do also that could last for weeks. But there's still a beginning and an end and it's predictable. And if I can just say one other thing, I know you got more questions, but this is a really important, this is what changed my life as a trader and I think it's going to help everybody, all your listeners. There's this concept. Most people don't aren't aware of it and it's this. The immediate past can predict the immediate future. In other words, the thing that just happened can predict the thing that's just about to happen with a high degree of accuracy, when you learn a pattern that has repeated and repeats all the time, you can learn what typically happens next. So the immediate past predicts the immediate future. And from that concept is how I've built all my unique strategies that help traders succeed. That's fascinating. What are some of the, I mean, I know this is a big concern just from my personally. But what are some of the pitfalls that you see as a seasoned trader that untrained investors like myself could make and how would you instruct us to avoid those pitfalls? The John Wayne trading. It's like you getting excited because you see something like my strategy is print the trade on the chart. It literally shows you the entry, the target, the stop. You see it. It's right there. There's no guesswork. You know where to get in, where to get out. And the whole trade is planned from start to finish. And you might think, oh, gee, well, that's the way it should be. And it's true. You should plan your trade and then trade your plan and all my strategies do that for you. But that's just one trade. It's a random trade. And if you don't put that in context with the history of a lot of trades that led up to that, like say the last hundred trades, following the same rules of a specific plan, then you have no context, you don't understand that there's a random distribution to wins and losses. The best trade plans in the world still will have losing trades. And if you get a losing trade, it derails you because of as human beings, we want to run away from pain. It's a against our survival. A losing trade represents an attack on us from a primal point of view. And people don't understand this. And so then that causes them to do what humans do, which is not the right thing as trading is counterintuitive. So I always teach people how to prove it first and acquire that belief because you've lived through the good, the bad, the ugly, the great, the mediocre over and over. You've had some ugly, but then a lot of great follows. And then you look back and you see all those trades that you would have lived through. And you notice that your account would have gone up and up. And you can see a graphic of it using the tools that we use to prove it. And you can see how your account would have grown despite some ugly, despite some losing trades. And so like this, you transform from a person trying to trade, which is what we all start at, into what I try to get people to, to get on the camera here, to a CEO of your trading business, in which case you're from a higher point of view and your job is to run your trading plan, and every trade is just a business transaction. You're not psychologically invested in it anymore because you've taught yourself that higher point of view before you start trading. Right. And that's the key. And that's what most people don't do, which I want everyone to do because I want everyone to succeed, right? But so that's what your transform from someone who trades to being an actual trader. It's right. It's part of it. And you're trying to trade to not only a trader, but a CEO of your trading business, so your job run your trading business owner. Yeah. Yeah. Because it's a different point of view. And then you're not, you're insulating from that thread against the attack, you know, the thing that you feel when you're a little losing trade, you're not, that doesn't bother you anymore because you're above it. Right. Right. Yeah. You're not gambling. You're savings away or anything like that. Yeah. Yeah. Yeah. We're like a casino with the odds. I love it. That's why I like it. I love it. I love it. Absolutely. So where can our audience find more about you and what you do and how they can get involved and all of that? Yeah. So I would encourage them to attend my free training that find out plenty because I'll be there. But also I have my website is backpacktrader.com. And I have a free ebook called the 12 Powers to Successful Trading and it has the 12 essential things. I explain it in great detail. And if you have that, you're just going to be better off than 95% of the traders out there who don't. And you'll see why. And that's free. And I want everyone to have it because I really want people to be on the right, like starting on the right square before they go to the next one. You know, there is a step by step path to follow. There's a framework, a blueprint to follow that step by step that will take you from where you are now, person trying to trade. Nothing wrong with that. It's what we all are. Start. But helps you transform and become that CEO of your trading business. If you follow that journey, I mean, trading can change your life. It's like too important to get wrong, but you have the opportunity to get it right in a very simple step by step format without pressuring yourself. That's important. It might be. It's wonderful. Yeah, it's one and we get so much wonderful feedback from your work and what you do and you really are changing lives. It's amazing. Gangtroy is an expert when it comes to living the backpack trader lifestyle successfully and he doesn't spend hours and hours of computer making it happen. Like he says, you spend the time you need and then you turn off the, you make your trades, turn it off and then live your best life. So if you want to learn how Troy makes it happen each and every day, be sure to click on the link below and join his free one hour training. You can do it right now. Let him guide you on your own backpack trader journey from the very start. Troy, thanks for joining us. It's awesome to always to have you here. Thank you too. It's always a pleasure. Thanks so much for listening to 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]
