QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your background.
CODY – My name is Cody (aka Odds), I am a full time Dad who trades for a living. I am Co-creator of the Futures chat room called ThePitTradingFutures. I trade full time and manage multiple accounts. I live just north of the USA, in Canada. My Wife and two daughters are my rock. I always put my family before any business I run, including my own account managements. I believe the basis of my trading is developed on the aspect of “Time.” Having the ability to spend significant time with my daughters is the foundation of why I trade for a living. Although it did not happen over night, I trade without any connection to the financial aspect in the market. I don’t pay attention to my account balance, nor do I worry about making or losing money throughout the day. My primary focus when trading is taking and managing the RIGHT trades. Once I was able to disconnect this way from the money, not only did it improve my trading, but had a significant impact on my personal life.
QUESTION – What and who got you into trading. Any mentors and what is your trading focus or speciality (Equities, options, futures, eminis, micros, etc)
CODY – I got into trading back when the OTC (Over the Counter) market was more liquid then it is today, trading the pump and dump pink sheets. I loved the process of trading, what goes into being a full time trader and the competitive factor. A big mentor of mine was Vwaptrader (JJ) on twitter. I have known him for 8 years now, and he has helped me discover the true meaning of the market and why those markets exists. This has been substantial in my success as a trader through the years. After the Pennystocks OTC volume dried up, I found myself watching Daltons videos on YouTube and learning the Market Profile. I was absolutely hooked. I loved the way he was teaching to see the market. I read his books, watched every free webinar he had on YouTube and then followed up with his intensive. It completely opened my eyes to seeing the market through the structure, instead of some of the other noise we find on candle charts. This completely changed my trading career for the better and I have been trading the ES since.
QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?
CODY – When I first started trading, I opened a 10k min account with a broker in Canada. I found myself trading the penny stocks. It took less then 30 days to blow that account up. I had no idea what I was doing. It was my humbling moment in my trading career, and I’m lucky it happened early on. I was very young when I started, and that first 10k was a large amount of money to me. This took me out of the game immediately and brought me to my knees. This was the defining moment in my trading career, and personal life. It allowed me to fall in love with the process in life, rather then the end product.
QUESTION– How would you describe what makes a successful Trader – keeping in mind that it has been reported that 90% of traders fail. And how do you feel one can better those odds for the everyday retail trader.
CODY – I believe self understanding is the most important aspect of becoming a successful trader. Understanding who you are, a fast thinker, a slow thinker? How you respond to stress, failure, pain and emotional situations. Knowing if you are someone who has a lot of patience, a little, or long fuse. Having self understanding allows you to build your trading strategy around your weakest characteristics. I believe retail traders need to have a firm grasp on themselves. Once you are in tune with yourself and your surroundings, you become better at managing your weaknesses. Most retail traders spend time learning systems or trading mythologies. Very few spend the same time on their own personal understanding. No system will ever overcome your short comings in your personal characteristics.
QUESTION : What do you feel is the role in having a balanced all around life in your day to day activities. What hobbies do you enjoy?
CODY – Balance is significant in your life no matter the career your in. I always remember a very important quote, we work to live, not live to work. Your life is meant to be enjoyed, and lived to the fullest no matter your financial situation. I spend a lot of time with my children, playing outside, playing dolls, singing, dancing and just quite times together. These are the moments I live for, not the TPO’s on my screen. Having this as my basis along with my faith in God has allowed me the mental awareness to be present when working in my career. When I spend time with myself, I enjoy golfing and snowboarding. Due to where I live, we get 8 months of winter, so snowboarding makes those months a little easier to live through!
QUESTION – What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?
CODY – Personal – Don’t be afraid to stand out from the crowd, even when your the only one standing. Don’t lose your faith and rely on God and his plan for you.
Trading – Forget about the money, it comes from successful habits and proper management.
QUESTION – What good & bad advice do you hear often in life (professional or personal)?
CODY – Learn by doing, not by seeing. I don’t understand why people believe it is more beneficial to learn through hardships that you can avoid by following the direction of those who have been through it. I believe everyone should find a mentor and listen to their story so they can avoid the same U-turns and Road Blocks.
QUESTION – If you had to give a book or books as a gift to someone, What would you recommend and why?
CODY – Thinking Fast and Slow – fascinating to gain an understanding of how your brain works in making choices throughout different situations.
Reminiscence of a Stock Operator – I think all traders can agree it’s the best book to read if you have any interest in the stock market as it was written so long ago and still is relevant today.
Mind over Markets/Markets in profile – Dalton is a wealth of knowledge everyone should tap into.
QUESTION – When you have lost your mojo or focus , what do you do to get back on track?
CODY – Take a walk, take a break. Step away, clear your mind, focus on something completely outside of trading. Working out, shopping, reading, anything to pull your mind away from the struggles you may be feeling. Once I can fully pull myself mentally away from the markets, I am only then ready to return to the chair and get back in the trenches.
QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be?
CODY – There are two kinds of traders. Those who are humble, and those who will be humbled.
QUESTION – Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?
CODY – You can reach me on Twitter at @mr_c23h