#004: Leigh Goldstein from JO Bracket Breakout

EP 004
Traderview Ep 004 Leigh Goldstein - JO Bracket Breakout

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Show Notes

Introduction

Q: Tell us about your background.
  • Leigh was a musician and a business owner before he started trading!
Q: Who or what inspired you to become a trader?
  • Trading was something that Leigh was always intrinsically drawn to, and the evolution of the internet drove his ability to learn how to trade
Q: Do you remember your first big winning trade? What did you do with the money?
  • Leigh's first big winning trade was a mistake!
Q: At what point did trading become your primary source of income?
  • Leigh became a profitable trader when he learned exactly what kind of trader he wanted to be
Q: What does a typical day look like for you?
  • Leigh is an early riser, and starts his day monitoring the markets
Q: What markets do you trade and why?
  • Truthfully, Leigh doesn't care what market he's trading, and there are a few reasons for that
Q: What is your favorite trading strategy in today's market?
  • Leigh's favorite strategy is the breakout
Q: What is different about your approach compared to other traders?
  • Leigh is less of a discretionary trader than someone who is just starting out, because he trades based on events
Q: How does your strategy differ for generating income versus building wealth?
  • It doesn't!
Q: How would you trade a $5,000 account differently than a $50,000 account?
  • The fear level that comes along with a smaller account makes it prudent to be more careful than if you had a large account
Q: How do you limit risk?
  • Some risk is limited automatically by brokers, but there are some key things smart traders always keep in mind
Q: What trading platform do you use primarily?
  • JOBB uses NinjaTrader, but Leigh has a few others that he recommends, also
Q: Which indicator could you not live without?
  • Leigh loves "the squeeze"
Q: Do you have a written trading plan that you reference every day?
  • Absolutely! Leigh's trading plan serves several purposes
Q: Do you keep a trading journal?
  • Leigh thinks that having a trading journal is the most important thing a trader can have
Q: What do you like most about trading and what do you like the least?
  • Leigh's love of people drives him, but being in the market at the risk of losing money is the thing he likes the least
Q: Was there a specific turning point where you went from consistently losing money to being consistently profitable?
  • Discovering news trading made all the difference for Leigh
Q: What was your best month as a trader? Your worst month?
  • Revenge trading led Leigh to his worst month
Q: Do you have a favorite story about how your success in the market allowed you to impact the lives of others?
  • Being able to help others make money is the best thing that has ever happened to Leigh, and he is able to do that because people trusted him
Q: If you could go back in time, what advice would you give to your 20-year-old self?
  • Leigh's advice to his 20-year old self is something that he parents used to tell him when he was growing up
Q: How do you measure success in life?
  • Success to Leigh is not monetary
Q: What have you had to sacrifice to get where you are today?
  • Leigh feels lucky to have had the opportunity to follow his dreams, and he doesn't regret any of that
Q: Would you do it all over again, or are there things that you would do differently?
  • Leigh would have pursued his first passion, music, at a younger age
Q. What is your biggest challenge as a trader?
  • The biggest challenge is to stay profitable
Q: What is the biggest difference between successful traders and unsuccessful traders?
  • The inability to take a loss is something that many traders struggle with.
Q: How has your mindset evolved over time?
  • Losing money publicly has forced Leigh's mindset to evolve
Q: How should someone handle losing streaks?
  • Stick it out! Losing streaks are learning experiences
Q: If you had the power to make something required reading for every high school senior in the world, what would that be?
Q: What is the next step in your evolution as a trader?
  • Leigh wants to build up the trading room at JOBB
Q: What is the best way to get in touch with you?
Q: Are there any final thoughts?
  • Do your research and surround yourself with people you can trust

Closing

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Tweetables

“I can’t think of anything in my life that has been better than what I’m doing now. I feel like the luckiest guy in the world."

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“A trading journal is one of the most important things in the world.”

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“If you have trouble making decisions, you’re probably not cut out for trading.”

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“We’re facing incredible amounts of technology that works against us.”

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“The markets change, so you have to change.”

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“Accept that you might have losses.”

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“Slippage is like air. It’s always there.”

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3 Action Steps

  1. Keep a journal
  2. Keep a level head
  3. Fund yourself enough to overcome fear

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How to Get More Free Training from Leigh Goldstein

Get More Free Training from Leigh Goldstein: www.newjobb.com

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Resources and Links

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About Leigh Goldstein

Leigh studied music at The Berklee College of Music and The Boston Conservatory.He moved to New York City in 1978 and started one of the first computer software and hardware game stores where he retailed Atari computers and Colecovision, Sega and Nintendo gaming consoles.In the 1980's he integrated mail order music software and Midi products through the retail operation, being one of the first music software mail order retailers in the world.

After the business closed in 2001, Leigh began trading stocks and learned the art of futures trading. He has been trading for over 15 years, and is now considered an expert at news trading.

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