John O'donnell, Online Trading Academy, Ryan Cook discussed on KGO Programming
Welcome to the show. If you're a first time listener, the we are pleased to meet you. My name is Ryan cook. And joining me today is who I like to call the rainmaker. It is Johnny. Oh, John O'Donnell from Online Trading Academy. Our knowledge obser- is Bill and in for Larry Jacobson, so John that's a big shoes to fill. But one of the things I saw when John was walking in. Here's John had some big feet. So I think he's up for the task, John. How you doing today? I'm great. Let's roll awesome. Thanks for coming out. Thanks for filling in John is definitely not a stranger here on the radio show. A lot of you guys. If you listen to us before you've definitely heard the wisdom's the wisdom of the rainmaker here. So I'm excited to have him here with us today as as Larry is out on out on assignment will say I think he's teaching a class in Washington DC or something we are at that time of the year where it is a New Year's resolution time over the next couple of days here, we're we're all going to be planning out how we're gonna lose weight, and how we're gonna make more money, but you know, John one of the things I would like to talk about on the show, especially when we're kicking off the show because I think a lot of people fall. Into this same type of categories. You know, we we've been told not, you know, as kids. It's not polite to talk about money, but that's one of the fun things that we get to do on this show is we just get to talk about money and not just what the color of the money is or what the money looks like or how to fold it into a paper airplane or make that little I on top of the pyramid. Look at everybody. But one of the things that we love to talk about on the show. And I'm so glad that we have you on here for his talking about how to turn one dollars to two dollars. Right. How to generate consistent income how to generate consistent income and even specifically inside of the financial markets. One of the things I always like to kick the show off. We really follow this theme. How it just to have consistent income you have to have a consistent strategy and throughout the show. We'll talk about making money is the markets are going down. We'll talk about money making money as the marks are going up. But that's really the the key. Right. That's really the key is if we're going to have consistent income we have to have a strategy that can perform consistently no matter what the market is doing whether the market is going up whether the market is going down, whether the market is going sideways. One of the things I would like to kick over. To you is just a question. Let you run with it and kind of drop some of the Jani golden nuggets on us. What are some of the keys that our listeners need to focus on to be able to generate consistent income inside the markets. Well, this may sound rather simplistic, but why is income support income is what drives exchange exchange. In fact, is the foundation of civilization and at the end of the day, we all need sources of income. Now, where are you going to generate that income from is pretty straightforward rather? Be further active. You can go out in exchange, your labor with an employer and produced goods and services and create income or you can be rather passive and have a plan that's decisive disciplined that allows you to participate in the capital markets, and we believe here at Online Trading Academy and trading radio specifically that your money can. Work a lot harder for you. But the real reason we all need income. And it's not simplistic is that trade is the foundation of civilization. And that's what's very very important. And regardless if we are going to focus on passive income are more active ways to produce income. It's pretty obvious. Given the rates have been placed in the cost of living. You know, giving the aging boomer situation with over ten thousand baby boomers per day. Retiring that their primary source of income eventually is going to go away. And we're all going to be forced to live out of our wealth bucket. Our retirement bucket either voluntarily or involuntarily that day gonna come for all of us unavoidable. So we might as well figure out a solution. And let's face it. Ryan we all need to get started earlier not later because the day of reckoning is in front of all of us. There's no way to avoid it. Yeah. The best day to plant a tree is. Yes. Yesterday. Right. Well, we can't do anything about yesterday. But we can sure make sure we plant that tree get that nest egg gro today. And one of the words that you threw out there a minute and a half or so ago was the word civilization. You were talking about trading. That's kind of that as a foundational piece in civilization. And I just love that thought. Because one of the things that I always tell students coming out to one of my half day. Classes is is people have been trading successfully for thousands and thousands of years, whether they're they're trading rice into rice market, whether they're trading cattle, whether they're trading goats, whether they're trading precious stones with it, no matter what people have been trading and doing it successfully for thousands of thousands of years, and it's always been it's always ties back to very very basic simple principles. And we say, basic and simple. But that doesn't mean it's necessarily easy to execute 'cause thousands of years ago people struggled with it and some people did well, and even today some people struggle with it and some people do well. But the thing I always like to point out is there wasn't a a fancy software that people used back then and there isn't. Necessarily. It's not needed. Does it make things easier? It makes things easy, but it's not necessarily needed right now. I guess the point I'm trying to get in here. Is one of the things that my golf coach said back in back in high school. I was trying to make the golf team. I was a terrible golfer is just a thing that very few people tried out for it. But one of the things he said is not the it's not the arrow it's the Indian. Meaning it's not the software. It's the trader it's the skill that the individual has no matter what we're trading. It's the skill that the person hasn't being able to execute it. And that's very very true inside of the markets. Now, we have softwares and different things that help us now. But so often we rely on on a piece of a I to do the work for us when it really just boils down to buying low and selling high early in any market condition. It's all about buying low and selling high, even if you're shorting, which is making money as the markets are going down, you're still buying low and selling high you're just doing it in a different in a different order, but John you pricey this big stack of tickets right here. These tickets are for a half day class. And what are we what we usually do at this point in time? I know it's been maybe month or so John here. But one of the things I always like to do is. I always like to ask my coach. Host if it's okay if we give away let's say ten of these passes what he say ten well how about we do twenty. We'll do we'll do to Mary's collar. It's going to be two to our to our ten callers. Let me tell you what you're gonna get with these passes. Because right now, we have a half day class up in your area and at the half day classes, where you're going to see exactly what it takes to really analyze the markets and be able to determine where you could be buying and where you could be selling. Now, the half day classes about three hours long, but we described as the the half day class, but your investment in this. If you win a set of these passes is going to be three hours of your of your time. And it just a second. You're gonna have a chance to win a set. So if you are driving.