Average-Joe-Trader-Ed-Martin

Average Joe Trader Ed Martin Interview

If you don’t know Average Joe Trader Ed Martin yet don’t worry you will soon find out. He is a friend, fellow trader and now stock trading mentor and educator at… you guessed it… Average Joe Trader. Ed, thanks so much for doing this interview with me on Beyond Debt. The viewers might not know that you and I became friends during out time together at Warrior Trading. Both of us were subscribers of their service but then something amazing happened to you. Through hard work and dedication to the difficult craft of day trading, you became consistently profitable to the point that you became a moderator at Warrior Trading. Then recently you left and started your own trading service.

Ok Ed… Let’s cut to the chase.

Jai:How long were you at Warrior Trading, why did you leave, and were you asked to leave or did you leave on your own?

Average Joe Trader Ed Martin: I started with Warrior Trading in November of 2014 taking advantage of the 7-day free chat promotion they had. I would have to change IP addresses every week for a while, which was easy because I was working at the school at the time that had hundreds! But, by February of 2015 I stopped being cheap and bought a subscription! Then, in October of 2015 Ross approached me about being a mentor in the chat room. I felt that this would be a great way for me to meet other traders and increase my skillset. So, throughout the next year they gave me more responsibilities and eventually I became an official employee.

Jai:That is too funny about the free trial. I think I did the same thing for a few months. Ok. Was there any bad blood between you and the other moderators at Warrior Trading or did you leave amicably?

Average Joe Trader Ed Martin: There wasn’t any bad blood, or falling out. It was a mutual decision. I felt like Warrior Trading was my home and that is where I grew up. But just like us, as children who grow up in our parents’ house, the walls started closing in on me and I could not seem to work within the rules that they had for me. The choice I had was to stay and be stagnant in my growth, or leave home and go out into the world and be free to live by my rules. So, I decided that I couldn’t live within the rules and restrictions of that house so I left. They wished me well and after a few hours of personal reflection, I began to bring my vision to reality.

Jai:That is an excellent analogy.Let me be the first to say congratulations for starting your own service. I have always found You (Ed Martin) to be honest, helpful and caring. However, what made you start your own service? Let’s face it the real money is in teaching and not in trading but you learned how to be consistently profitable. How and what did you do to get there?

Average Joe Trader Ed Martin: Thanks! I have 2 passions; teaching and trading. I have always looked at merging the two. At Warrior Trading I was able to do that. I knew that when I left, I had to teach. I had helped a lot of traders and that there were a lot of traders that I was leaving at Warrior Trading so I wanted to provide a place that they could come and I could continue to work with them. I had my own beliefs about how day trading should be taught so that a potential trader would have the best chance of success. I was not allowed to implement them at WT so this was my chance. I did not want to get rich off this or create an “alert” service. I wanted to create a true education community that would allow me to exercise one of my passions. I believe that I am a successful day trader because I was a teacher and I was able to understand what I needed from myself to become successful. I recognized what was missing in the curriculum that was out there and where I could bridge that gap. I wasn’t completely ready at that time but the time in the market that I have now has prepared me for this step and to be able to share with others what it takes to be successful. I have to say that my education background and the fact that I was required to spend countless hours in professional development and psychology classes has well prepared me for trading and my current venture.

Jai:Speaking of trading how did you do in 2016? And how are you doing so far this year?

Average Joe Trader Ed Martin: I do not know the exact number for 2016 yet because my accountant has everything and I am waiting on a final number, but it should exceed 100k after it is all said and done. I just missed 100k in 2015. This year it has started slow because my intension was to start back at $1500 and demonstrate the proper way to grow a small account, and to develop the patience, discipline and skill needed to be successful traders starting out with smaller accounts.

Jai:Ok let’s talk about that. You mentioned you wanted to start off 2017 back at “$1500 and demonstrate the proper way to grow a small account,” but wouldn’t you agree that it takes time to take a small account and become consistently profitable? Wouldn’t you also agree that there might be a few draw downs along the way? I am not trying to discourage people with small accounts but you didn’t take your first small account and turn it into a substantially profitable portfolio overnight. Could you touch on this a bit?

Average Joe Trader Ed Martin:Yes, it does take time, discipline, and patience to grow a small account. Too many of these other communities fill these new trader’s heads with false hope by posting massive gains that they say are coming from a small account, but in reality, it is next to impossible to achieve these results in a “live” account. They never show their subscribers anything other than a screenshot of their P&L (Profit & Loss). This does nothing to help them learn how to trade. Their followers need to see the actual entries and exits. They need to see success, and failure, modeled. Therefore, I dedicated myself to showing these new traders just how I did it when I first started. I want to give them a true model to help them get started on the right foot. I started with a $1500 bonus check from work and I had to refund my account 5 times before I was able to start putting the pieces of this puzzle together. New traders need to know that one of the most important skills they will need to master is learning how to lose. What I want to do is help them understand that and develop a process that will protect them from draw down, after draw down, after draw down. I believe you have to learn how to trade small, win small, and lose even smaller before they start to look to go big.

Jai: That is so true and thank you for letting the viewers know that it took 5 draw downs before it clicked. I think that is very important. I get emails every week from new traders who are lured into thinking that they can turn $1500 into millions. It’s just not true. So, I always tell them, yes I am sure we can find 1, 2 or 100 people who say they turned $1500 into millions in the stock market but out of the 7.125 billionpeople in the world there is a 99.9999986% chance You (the new trader) can’t. Ok so let’s move on… As you know many people complain that trading teachers aren’t transparent but you (Ed Martin) verify all your trades on Profitly. Please share that with me. Why did you feel compelled to verify your trades?

Average Joe Trader Ed Martin: I believe in transparency. There are too many traders not being truthful about their trading. They can make fake broker statements, fake P&L’s, trading in simulators, and just plain calling out trades that they do not take. A quick read of their mile-long disclaimer usually will tell you all you want to know. I wanted people to believe that I was real, and that if I could do it, they could too. I feel that new traders need a “real” person that they can relate to.

Jai: I have spoken to some software developers and they have told me that it isn’t too difficult to manipulate verification software. Under the right circumstances would you be willing to verify your trading profits 1 on 1 or through tax returns? For example I am sure you are aware that Tradingschool.org likes to bust those trying to take advantage of innocent people just learning to trade. Would you be willing to let Emmett Moore (the owner of tradingschool) verify your trading?

Average Joe Trader Ed Martin: I have heard that if you have the knowledge in coding and all of that you would be able to manipulate these so that is why I made the decision to stream my actual trading platform live and not make any claims that you cannot see for yourself. I am an open book. I do not ask anyone to believe what I say, but believe what you see me do. I feel that this is the only way for new traders to really understand what it is to be a professional trader.

Jai:Ok let’s switch gears. Talk to me about your service. What makes you different? Are you sharing your screen, trades, news, charts, etc…? I know this is still very new for you but as of today let the audience know what a typical day is like.

Average Joe Trader Ed Martin: What makes me different is very simple. I am 100% transparent. I stream my actual platform live every day, all day in chat. You see every entry and exit. You hear my thought process going into the trade, while I am in the trade, and when I am out. I talk about the stocks that I do not like that do not meet my criteria and why. It is an open door to my trading day. So, in addition I stream my scanners and a live news feed. You can say spending a day in my chatroom is like spending a day sitting next to me at my trading station. Also, I teach to trade for skill, not money. This is why I do not show my P&L during the trading day. We focus on hitting our marks on the chart. If we do that, the money will be in our account at the end of the day.

Jai:What do you charge?

Average Joe Trader Ed Martin: I charge $399 for a year subscription which comes out to just $33.25 a month. You get:

  • Trading Education Chat Room
  • Daily Watchlist
  • Access to my scans
  • Live Streaming of my Trading Platform
  • Live News Feed
  • Daily Recap Videos
  • Small Group Mentorship
  • 1 Live Education Webinar per Week
  • Private Trading Study Groups

I also have a monthly subscription available for $69 a month. It comes with:

  • Trading Education Chat Room
  • Daily Watchlist
  • Access to my scans
  • Live Streaming of my Trading Platform
  • Live News Feed
  • Daily Recap Videos

Jai:Do you have any help or is it just you?

Average Joe Trader Ed Martin:I do have another person that helps moderate and another that helps with the IT. I will announce publicly who they are at a later date but this took off so fast we are still organizing our administrative structure.

Jai:As we both know there are a lot of unspoken costs of a trader: commissions, platforms, charts, news, chatrooms, taxes and then there is the cost of losing trades. However, still, it’s pretty tempting to a new trader to think trading is easy due to the misrepresentation from the majority of day trading chatrooms. You have never been that type of person in my opinion and I have always appreciated that about you. With that said, what would you say to the new and interested trader to advise them before taking on this challenging endeavor?

Average Joe Trader Ed Martin:What I like to tell new traders coming in is that if you are not willing to treat this as a business, then do not even think about starting. Here are the questions that I ask:

  • Would you start a business if you had no idea what the cash flow would be?
  • Would you start a business if you had little actual experience or training compared to your competition?
  • Would you go into a business where your competition was well capitalized and you had limited capital?
  • Would you start a business without a business plan?

I let them know that this is exactly what most of you have done or are thinking about doing. You must realize that you are going up against the best traders in the world. Training, experience, psychological control, and a realization that you are not invincible or smarter than the market will lead you to success. Then I end it by telling them “Wall Street is built on the souls of those who did not learn this lesson until it was too late”. I let them know that they need to be doing this for the right reasons. That they need a legitimate “why”.That they need to do this for something bigger than themselves. Something that will allow them to keep getting back up when this trading knocks you down.

Jai:Those are excellent points and your quote is spot on. Personally there must have been a dozen times I wanted to give up or quit doing what I love because I got knocked down. Getting up is the toughest thing to do but staying down is even tougher because it is something you have to live with forever. Ok Ed before we wrap it up please let everyone know where they can find you and your trading service as well as get in touch with you.

Average Joe Trader Ed Martin: You can contact me through my

website here

email here

Twitter here

Facebook here

Jai:Any last thoughts?

Average Joe Trader Ed Martin: The thought I would like to leave you with is simple; Learning to trade is a process. Do not shortcut the process!

Jai: Well said. Thanks Ed.

Average Joe Trader Ed Martin: You are welcome Jai.

Save

Save

Save

Save

Save

Save

Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
Shares