Mutual funds are marketed and sold as reasonably safe and effective investment vehicles; put your money in and forget about it until you retire. They can provide returns, sure, but they often perform less well than the S&P, and upwards of 60% of profits made in an account can be taken by fees and market action. It may sound unbelievable, but guest host Garrett Holden has been a mutual fund salesman himself, and attests that the figure is accurate. He didn't initially know the take from investors was so high until he started doing research to improve his performance for both the company and his clients. Shortly afterword, Garrett started looking for other ways to help people financially, and it came down to educating them about finance so people can act on their own. Hence, this month's book, Money: Master the Game by Tony Robbins. It lays out the details above for the average layperson and how stacked mutual funds are against investors in such instruments. The book goes on to draw the same conclusion: teaching oneself how to trade and manage finances independently is more effective in the long run provided you're willing to learn. What you invest in and how is up to you (although, Tony makes several suggestions), but the most important thing is taking action. Join guest host Garrett Holden as he breaks down the book section by section along with his own commentary throughout in the August edition of the Trading Justice Book Club.

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September's book is Market Wizards, by Jack D. Schwager (July 2012 edition). You can find it on Amazon right here, or check your local library. We'll be doing a live audience podcast on September 29 at 7 PM ET to discuss the book. You'll be able to join us right here: Podcast Room

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For your free 15 day Tackle Trading Pro trial membership, follow this link (https://tackletrading.com/join-pro/) and fill out the form with the coupon code being: theta Also, we'll be giving away a free month of Tackle Trading Pro membership to the best, most interesting review left for the podcast on iTunes! You can leave a review right here.

With so much going on in your life every day, it can be difficult just to find the time to trade, let alone plan your trades. When you do, how can you decide what to trade? Pundits such as Kramer and his ilk always are going on about the latest hot stock. You could just blindly listen to them. ...or maybe you could just trade stocks of companies you like. Put your money behind companies that do what you consider good work. ...those are both terrible ideas without proper planning and insight, by the way. If tempered with your own trading plan as a check against whether said stocks fit what you've determined to be good trades for you, doing so can work just fine as a starting point. A trading plan is essential to the active trader. It'll help you stay on course with your personal trading goals and rules regardless of what the market is up to. A plan removes emotion when you hit a hot streak and start feeling unbeatable (a dangerous place to be); it keeps you on the straight and narrow instead of chasing high risk big wins that you normally wouldn't go after. At the same time, a plan helps remove some of the sting from losing trades, as well. Not every trade is going to be a winner, and a proper trading plan will take that fact into account and both help pad the ego from the losses along with keeping you from chasing high risk big wins to make up for lost ground. So if you haven't found the time to make a trading plan and you're just drifting to and fro in the markets, make time. ...then stick to those rules. Your portfolio and your nerves will thank you.  

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August's book is Money: Mastering the Game, by Tony Robbins. You can find it on Amazon right here, or check your local library. We'll be doing a live audience podcast on August 25 at 7 PM ET to discuss the book. You'll be able to join us right here: Podcast Room

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For your free 15 day Tackle Trading Pro trial membership, follow this link (https://tackletrading.com/join-pro/) and fill out the form with the coupon code being: theta Also, we'll be giving away a free month of Tackle Trading Pro membership to the best, most interesting review left for the podcast on iTunes! You can leave a review right here.

Trading is an expansive enterprise that's been around for quite some time. With anything so complex and aged as trading, there's bound to be general beliefs and advice that crop up. Some are solid: Don't fight the Fed by trading contrary to what they're doing. Trade the trend of the chart, not your hunches. There are no old, bold traders as there's no real reason to take on excessive risk when trading for the long term. Other beliefs and advice is incorrect, or at least incomplete.  Mutual funds are safe. Trading is hard. It takes a lot of time to trade. These statements and others have wormed their way into some traders' thinking, and Trading Justice is setting out to undo these incorrect assumptions and beliefs. Join Matt and Tim as they assess ten different trading myths and deconstruct them point by point as to how they're incorrect. From trading only being for men to the market being unbeatable, this isn't an episode to miss. You can download the list of trading myths for your self right here: download link  

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August's book is Money: Mastering the Game, by Tony Robbins. You can find it on Amazon right here, or check your local library. We'll be doing a live audience podcast on August 25 at 7 PM ET to discuss the book. You'll be able to join us right here: Podcast Room

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For your free 15 day Tackle Trading Pro trial membership, follow this link (https://tackletrading.com/join-pro/) and fill out the form with the coupon code being: theta Also, we'll be giving away a free month of Tackle Trading Pro membership to the best, most interesting review left for the podcast on iTunes! You can leave a review right here.

Tim and Matt are joined by Real Estate and Credit expert Jeremy Reece to give you the score on credit, why it's so important, and the difference between good and bad debt. We've all heard the ads, "We'll give a loan to anyone! Bad credit, no credit? No problem!" What is the difference between bad credit and no credit though? As it turns out, history. You could have a credit score of 750, but without the extensive payment history to back up the score, you'll have a difficult time securing a loan. Why is that? Well, you may have made a few payments on time, but there's not enough data from a payment history to show that's a consistent pattern of behavior. That's not to say you should go out and get a bunch of credit cards right now, either. Consistent payments, over time, only utilizing a fraction of the credit that's available to you. That's how it's really done. It can't be done overnight, but as the score builds, interest rates can potentially get better for ya and loans will be easier to secure, as well. Wait, though. What if you're living paycheck to paycheck and there's no room on the credit cards at all other than for the minimum monthly payment? Well, Jeremy (and others) would argue there is, it's just a matter of giving your expenses a good hard shakedown. Cut the fat where you can (and that can seem painful initially) and start making extra payments with the saved moneys toward the gnarliest bills. Over time the gnarliest bills will disappear and you'll have more money to keep doing the same trick. Keep at it utilizing that snowball effect and over time, you'll have debts paid off and extra cash in your account. ...and guess what? That's also roughly how compound interest works when working with trades such as covered calls or other cash flow strategies. So long as the funds don't leave the system, they'll keep working for you in the future, earning you more money. For more about Jeremy Reece's company, ASFG, you can find the website right here: ASFG Link  

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August's book is Money: Mastering the Game, by Tony Robbins. You can find it on Amazon right here, or check your local library. We'll be doing a live audience podcast on August 25 at 7 PM ET to discuss the book. You'll be able to join us right here: Podcast Room

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For your free 15 day Tackle Trading Pro trial membership, follow this link (https://tackletrading.com/join-pro/) and fill out the form with the coupon code being: theta Also, we'll be giving away a free month of Tackle Trading Pro membership to the best, most interesting review left for the podcast on iTunes! You can leave a review right here.

Tim and Matt are joined by market veteran and raconteur Pete Thomas to talk commodities, trading, and Pete's colorful history. Pete Thomas, currently the Senior VP of Zaner Precious Metals, has quite a history. Not only is he a LONG time trader of precious metals that started in silver, Peter was also a long-time stunt coordinator for Hollywood; including films from Towering Inferno to the Dark Knight Rises. Also a motorcycle enthusiast, author, and again, a talented metals trader, Pete has much to share. Matt is also a metals fan, and has a long-term compounding strategy in development called Personal Gold Standard. The general idea is to take passive cash flow from dividends, covered calls, and other gains to purchase physical gold and silver. The idea here is twofold. First, as a hedge against currency risk, and second, as a diversification into commodities with proven historical performance in the markets. Here’s a couple of Pete Thomas’s articles for ya, as well: http://www.econotimes.com/The-Definitive-Guide-to-Buying-Gold-Bars-167706 https://www.linkedin.com/pulse/old-grey-fox-once-again-makes-history-pete-thomas

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August's book is Money: Mastering the Game, by Tony Robbins. You can find it on Amazon right here, or check your local library. We'll be doing a live audience podcast on August 25 at 7 PM ET to discuss the book. You'll be able to join us right here: Podcast Room

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For your free 15 day Tackle Trading Pro trial membership, follow this link (https://tackletrading.com/join-pro/) and fill out the form with the coupon code being: theta Also, we'll be giving away a free month of Tackle Trading Pro membership to the best, most interesting review left for the podcast on iTunes! You can leave a review right here.