Why Kevin Jones Day Trading Came to Utah

Background

I came to Utah for many reasons, though my first thoughts about day trading were anything but good. They were spurred on by the father of a soon-to-be business partner, Kevin Jones.

Kevin Jones Day Trading | Utah
Kevin Jones Day Trading | Utah

It was 2008, and the markets were not good either. No one wanted to be in the markets the way they were that year. But Jones’ dad, Kevin Jones Sr., was pretty persuasive. He spoke about the profits that were coming in. He even showed me the statements of the money he’d made, but I still wasn’t interested.

I was trying to run a cell phone business, and so I ignored him for a while.

But frankly, my friend’s dad kept showing up. Kevin Jones had already jumped on the day trading boat, and I figured, why not? “Okay, show me what you got?” I finally offered.

The shifting began.

I soon realized I could make a profit in an up market as well as in a down market.

Matthew Poll

My friend and I were sailing along, and while we enjoyed creating tools around coaching and trading my family wasn’t on board.

“Are you doing okay?” they’d ask. They were worried. Was our success somehow tied to the real estate market crash of 2008?

Making it to Utah

When Kevin Jones and I finally made it to Utah, we were ready to take on the day trading catamaran. Unfortunately, California folks were still sailing along, and the supply of really good talent, and really great partners; people that had the same mindset and goals as we did to grow and to help other people succeed was frankly limited per capita. We knew Utah to be a business-friendly state. And we knew we could find the talent and partners in Utah that we needed to grow our business.

We knew that the people in Utah were more entrepreneurial, there were more like-minded folks looking for ways to earn money on their own, and there were more people who wanted to be in charge of their financial future. Not that Utah was the only state where we felt this was prevalent, but Utah was definitely on top of the list of places to move as compared to where I was in California.

And of course, we both liked the great outdoors, so we figured we were getting more than just a great business opportunity when it came to all of the pluses already mentioned. 

We were right. This is a great state to work in and we plan to keep it that way.

Matt Poll’s Indicators of Success

Matt Poll's Indicators of Success
Matt Poll’s Indicators of Success

Have you heard of Matt Poll’s Indicators of Success?

Like day trading, you may have also realized there are indicators in your life that tell you when to try something new or when to step away from a project that isn’t serving you. When you force something into your life – say how you relate to a certain family member, or when you convince yourself that your job will just have to do when you’re not happy in it – these are indicators that a change is necessary.

Like life, price action – using what has happened in the past to help you make the best trading decision in the present – is the “most important thing in day trading,” says Matt Poll. But, relying on “indicators… as a POTENTIAL entry/exit confirmation for your analysis…can be great tools to complement your trading idea.”

Indicators of success begin with looking at the past and seeing what has worked and moving forward to examine the changing possibilities.

Matthew Poll | Indicators of Success

Say you are ready to change jobs – maybe even careers. You’ve looked at what has happened to you in the past when such a shift has taken place. You’ve searched out what was good and not so good about the decision. But you’re also looking at what is happening today – at this very moment in the line of work you want to move in to. You are looking at indicators.

Like a life well lived with a loved one, there are hills and valleys, that if managed well will yield the greatest results. The best currency pairs, like the best pairs in life, are individuals working together who focus on what will lend them the greatest results.

Matthew Poll Day Trading | Get in the Game

Get in the game - matthew poll day trading
Get in the game – matthew poll day trading

Matthew Poll Day Trading, speaks of getting in the game of day trading like a well-oiled machine. It isn’t just about the mechanics of trading – knowing who, when, or where to put your next hard-earned dollar, it’s about where you are when you shell it out.

Consider yourself in a game of football. If you are one of the players, you are in the game of football. If you’re in the stands, a referee, the coach, a player assistant, or watching the game from your favorite big screen at home, Poll suggests that you’re “not playing in the game” at all.

What are you doing then? You’re cheering, aren’t you? You’re giving direction to a team player, aren’t you? You’re assisting as needed, aren’t you?

Matthew Poll

“What if you thought you were in the game and I was to tell you that you were not?” states Poll, in his YouTube video, “Are You in the Game”?

“In the game of life, we can… think we’re in the game when we’re not. We can think we’re playing, when, in actuality, we’re only talking about changing areas of our life or ignoring our life altogether. Fear may stand in the way of living life in the field where the game is actually being played.

Consider relationships, money, health, and spiritual well-being. In all of these areas, “winning and losing occurs” because some risk has been taken to play in the game. It isn’t easy to share your heart with someone you are struggling with. It isn’t simple to balance your money, deal with debt, consider your health – what you eat, how you exercise, how you sleep. It isn’t easy to find peace amidst the world’s turmoil. But, like football,

The masters of the game, play it as often as they can. Failure means something radically different to them. [They] look forward to failure because to be In the Game is more powerful than to be a spectator from the stands.

Matthew Poll

Matthew Poll Day Trading – 5 Strategies for Beginners

Wallstreet | Matthew Poll Day Trading
Wallstreet | Matthew Poll Day Trading

As Matthew Poll Day Trading will tell you, it’s not always luck that gets you the win, even when the going gets tough. It’s the strategies you implement.  

Matthew Poll, (with a bit of education under his belt) realized in 2008 that he could make a “profit in an up market, but also in a down market. When we started, I finally had this awakening,” he said, “like, oh my gosh, you can make money, and this thing’s going down.”

The traditional way of trading, putting the money in, sitting on it, and waiting for it to go up, was suddenly way beyond the back burner. In its place? Day trading empowerment.

What comes first?

Practice:

Consider using a demo account to practice up on day trading. Some sources say that practicing for three months will greatly improve your success in day trading once you go live. Although it is natural for your demo account not to directly line up with live trading, (you may find you’re not doing as well as live as you did on the demo), you will be able to remember and put into practice what you studied.

Study up on Day Trading:

This includes news, economic calendars, and Federal interest rates that affect stocks, etc. You’ll need a trading platform, a broker to facilitate your trades, and the proper software and equipment to trade. Jumping right in might sound exciting, but knowing what you will be doing before doing it will greatly facilitate your earnings.

Take an Honest Look:

As soon as day trading opens in the morning, take an honest look at what is happening. Read the market. What do you like? What can you afford? Don’t make any moves for fifteen to twenty minutes. It will be difficult for you to recognize correct patterns in the beginning, but this won’t always be the case. Save the middle or late hours for the seasoned players.

“Remove yourself from [the] emotional response”:

The emotional response will “kill you. It’s that thing that’s going to have you do what everyone else is doing [when] you should be doing the opposite,” states Matthew Poll Day Trading. As you become more skilled at day trading, you will be able to see when you are making an emotional response in favor of sticking to the plan. How much are you willing to risk on a given day, for example? Stop trading when your cap is reached.

Finally, consider keeping a Day Trading Journal:

Because you don’t want to miss the action when it is happening, “take a screenshot of the trading day with some typed annotations on it,” at the end of the day, or day trading period, states thebalance.com.  

“Save each day with the date as its file name, and keep them in a trading folder saved to an easily accessible location on your computer or in the cloud. Create subfolders for each year and month to make the files more easily searchable.”

On any given day, you can go back to your journal and see what worked for you (and what didn’t) to help you with future day trading.

Day Trading – get a piece of the pie

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By: Kathryn E. Jones

You see yourself sitting in your old armchair, buying and selling stocks, hoping to be the next success story. You’re interested in buying and selling on the same day, hoping to capitalize on a stock’s movement short-term. You’re up for an adventure, one filled with undeniable excitement and risk.

Yes? You may just be the next successful day trader according to Matthew Poll Day Trading.   

Jesse Livermore | successful day trader
AKA – Boy Plunger
The Wolf of Wall Street
The Great Bear of Wall Street

There have been many before you in history. The furthest back, Jesse Livermore, an American trader “shorted the 1929 market crash, building his fortune to $100 million,” according to Investopedia. Though not successful in the long-term, others who followed him – William Delbert Gann – known for his mathematics, geometry, and astrology trading genius and George Soros, born in 1930, known as “The Man Who Broke the Bank of England” is known to have placed within his pocket a billion-dollar profit.

Linda Bradford Raschke - Commodities and Futures Trader
Linda Bradford Raschke

Linda Bradford Raschke, whose trading story is found in the equally successful book, “The New Market Wizards” by Jack D. Schwager, tells her story from the ground floor of the 1981 Pacific Stock Exchange to her current successes and losses some 40 years later, and how she has more recently stepped up to electronic trading.

And then there’s day trading star, Jane Gallina, who didn’t enjoy her job in 2004 working for the airlines and eventually made her way to day trading making “over $150,000 in a year trading penny stocks as a stay-at-home mom” (stockstotrade.com).

Solving the Forex Puzzle | Matthe Poll Day Trading
Solving the Forex Puzzle | Matthew Poll Day Trading

Did you know that “every day, 5 trillion dollars is exchanged in the foreign exchange/currency markets (Forex)” and that “thousands are getting a piece of the pie”? (Solving the Forex Puzzle, by Matthew Poll).

The question that remains is, do you want a piece?