Look at Patrick Weiland’s Instagram profile and you’d be mistaken for thinking he was a professional surfer… living on the North Shore of Hawaii, spending his days hanging ten with the legends of the surf world. But how on earth can he do this?
Turn page to his YouTube channel, and you’ll see how Patrick has freed up his days for surfing, sun and fun by trading the New York open stock market, indexes and crypto.
To find out exactly how Patrick manages a 3am wake up every day, uses candlestick trading to his advantage and flicks between stocks, indices and crypto using the same strategy… take a gander below.
Podcast Interview
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Interview Links
Instagram – @patrickwieland
YouTube – Patrick Wieland
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Patrick’s Gap Trading Approach
Key Lessons
[07:57] Money is a tool to make more money.
[16:47] If you’re going to buy a stock, you have to have a plan.
[17:04] You have to accept the losers as much as you get the winners.
[21:26] With trading, you have to kind of figure out what works for you, what your emotion is, what your style is and then you have to figure out what’s the best way to go about it.
[24:30] The longer that you trade, the more you see these patterns.
[26:18] There’s a reason why most traders lose money because they’re doing exactly what they’re not supposed to do.
[38:29] A lot of people, the biggest problem for them is overtrading.
[40:35] Trading is a one job in the world where you can show up every single day for work and not make any money.
[49:29] The first year as a trader should be focused on not losing money.
[50:31] Cutting off your losers – that is the key.
[51:16] You have to figure out what works for you.
[54:25] If you can’t handle losing money, you probably should not trade.
[57:20] You should focus on the trade. Don’t trade your PnL.
