How To Improve Your Trading Performance With Technical Analysis | Cashflow Hacking Ep #25 Hima Reddy
Hima Reddy, founder of HimaReddy.com, joins us on the podcast to discuss how to improve your trading performance through technical analysis. As a professional day trader, Hima has dedicated her career towards helping others learn how to trade more efficiently through technical analysis, and now shares her story with Casey in order to help our listeners do the same.
Video Version Of The Podcast
People & Resources Mentioned
- HimaReddy.com
- The Trading Methodologies of W.D. Gann
- Skinny On The Mini
- Skinny Dip Free Content
Podcast Transcript
Intro: 00:10
Welcomed to the Cashflow Hacking Podcast. We’re on a mission to help people increase their cash flow well. The steady paycheck of a nine to five job may provide you a sense of security. It will never bring you true financial freedom and abundance. We will teach you the tips, tricks, and strategies behind increasing your cash flow. We connect with the experts who have defied conventional finance wisdom, who now earn more than they ever thought possible. For those of you that are not yet at your full potential are underemployed, or simply looking to grow their cash flow, then this podcast is for you. Welcome to the Finance and Markets Cashflow Hacking Podcast, and now to your host, Casey Stubbs.
Casey Stubbs: 01:03
Hi there. This is Casey Stubbs with the Cashflow Hacking Podcast and today we’re here with Hima Reddy from himareddy.com and Hema is a trading educator and will teach people how to do trading with the E-mini futures and so Hima, thanks for coming on the show today.
Hima Reddy: 01:23
Sure, Casey. Thanks for having me.
Casey Stubbs: 01:25
So we were talking a little bit about the show, getting to know each other and learning about our backgrounds and trying to see how we can best help the audience. And so I wanted to give you your chance to tell us a little bit about yourself and how you actually got started making extra money trading.
Hima Reddy: 01:44
Sure. So I had a really early introduction to what trading even is and it was from my father. So he had a day job. He had to commute an hour every day. You know, have three kids and a mortgage and a wife at home. And it was in the early eighties that he actually started getting flyers in the mail, like snail mail before email about trading programs. And when I was a teenager is when I came to know that my father trades on the side in the evenings on the weekends, sometimes takes a half day off from work and does day trading and was making a significant supplemental income to help him reach his goals of creating financial freedom from his family. And when I realized that this is tying into areas that I like, like in school I liked math and science a lot. So when I found all this out when I was a teenager, I thought, wow, I can use math and numbers to make money and the financial markets, that’s awesome. And I thought, all right, I’ve got to go learn how to do this. And so he suggested, you know, those study finance, learn the fundamentals, but I’m going to show you Hima the way I do it, which is called technical analysis, really price analysis.
Hima Reddy: 02:52
And so that is what my introduction was to it and from seeing evidence of my own father who had, you know, a salary and a boss and all of those hardships that maybe a lot of you out there have that you enjoy your work, but it’s really maybe not getting you to your goal at the pace he wants to. He took action. It was bold, right? Like I said, he had a lot of responsibilities, but one thing he did also for all four of his children, I’m the oldest of them, was make sure we all knew about trading, whether we decide to pursue it or not. He taught every single one of us how to read a chart, how to manage a brokerage account, how to make our own decisions about buying or selling stocks or futures or anything else so that if we decided we didn’t want to rely on an advisor one day, we would be able to control our own destiny in that sense. So very lucky and very early introduction from me.
Casey Stubbs: 03:41
Well, I think that’s really cool that your dad took the time to actually show you guys what to do. I know that me as a young teenager sometimes I could receive instruction and other times I was a little bit, I would say I knew better than the old people type mentality and so I couldn’t receive what they were trying to teach me. But that’s really cool that he took the time to do that with you.
Hima Reddy: 04:08
Yeah, he started the feeding into my interest when I asked when I was 16, but like I said my father wanted me to go to college, get a degree because he immigrated here from India in the seventies and he didn’t want his first child and the US to not be college educated I guess. And he figured that that would help me secure a job if I wanted a job, but I didn’t really get deep into my study until I graduated from college because what happened is I was at a great university, Indiana, go Hoosiers!, and studying finance and at the Kelley School of Business, all that sounds really good on paper. But I would look around in my classroom and see all these very eager, determined kids who wanted to be investment bankers and you know, work in all kinds of spaces that I was like, yeah, but you’re still going to be somebody’s employee.
Hima Reddy: 04:53
You’re not going to be in charge of your life. You’re not going to shape your financial destiny. And I said, dad, I don’t want to do what they’re doing. So I didn’t apply for a single job my senior year, which I’m sure stressed him out, but he said, fine, if you’re going to move home, you’re going to move home, you’re going to work part time and the rest of the time I will teach you. So it was when I was, you know, 21, 22 right out of college that Casey’s when I started absorbing, don’t think, unlike some 16 year old prodigy who is able to sit and learn and read textbooks every summer for my dad. No, no, no. It took me, took me, you know, having this awesome college experience, but one that really didn’t show me what I wanted to hunker down and listen to him and follow his guidance.
Casey Stubbs: 05:34
Yeah. Well I’m actually pretty impressed just to hear that you could figure that out from college, that you didn’t want to work in a job and that you didn’t want to have a boss and that you were kind of wanting to go out and make your own way. Not just that, but also have security and financial freedom. That takes a lot of wisdom because I have come to that same type of conclusion, but it took me a long time to figure that out. I wasn’t quite that smart at that young age.
Hima Reddy: 06:00
Well, I don’t know if it’s about smart. It’s just that I had an interest I was willing to learn, but the thing is that after my father taught me, trading, introduced me to technicals and had me set up a trading account and everything was moving along. I actually turned to him and said, listen dad, I know that your worst nightmare for me is to go get like a Wall Street job and sit at a cubicle, but I need to do that because I want to see how people outside of you and me are using all this financial analysis and I think it will make me a better trader and a better analyst. So there’s nothing wrong with having a salary and you know, commuting to work, but I want to go do it. And he supported it. So I got the CMT designation. So that being, having a professional designation helped me get into that Wall Street group.
Hima Reddy: 06:45
And I had two jobs on Wall Street with significance, but both of them I definitely can feel the limitations. You know, I was paid pretty well for being a young person. I got to live in Manhattan. What I still, I couldn’t even do analysis the way I want it to. I had to follow the company’s rules and I would make calls on markets that I would get yelled at for because I was using non traditional tools. They’d be like, how can we explain this to clients than turns out my calls will be right. And then they’d come back to him and say, oh wait, maybe we should let you just do your analysis the way you want. And that got old really fast. So it was after the second job that, unfortunately was after the second job experience that my dad actually passed away very suddenly.
Hima Reddy: 07:29
And that I think honestly, Casey was, it’s not smart. There was like real life hitting me and making me realize if I want to be here for my mom, my siblings have flexibility of freedom and still make a good living. I cannot just go back to a corporate job, it will not allow me the flexibility I need to really take care of what I need to for my family. And my father always wanted me to have my own business. He thought I was a great teacher. I would teach him things that, you know, he would show me and I think now I’m kind of living his dream. It’s really sad he can’t see it, but I definitely inspired by his view of what my potential was.
Casey Stubbs: 08:08
Well that’s a really good story and thank you for sharing it. And so you said that you would learn from technicals and technical analysis, but then you got immersed into Wall Street, so you probably learned some different things in addition to that. Are you still, are you still focused on technicals with your trading? Is that still your main main focus point?
Hima Reddy: 08:32
Yes, so I am a technician through and through, that is like my opening line when I meet anyone in a professional environment. But I did work in an equity research division and an investment bank at Piper Jaffray actually based in Minneapolis. So investment banking is a completely different world and the research part of it is very intense and you have to take a lot of exams on fundamental finance, so I know all about pe ratios and multiples and some of parts analysis and I could, it’s in my head because they had to know it for that job, but when I look at a market or stop or anything and whether I’m deciding to trade it or manage my family’s account for or recommend it to others, I do not let the fundamentals outweigh the technicals. I may consider it right. Obviously we’re right now in an environment where trade is kind of questionable environment. I’m not going to ignore that, but I’m not going to use that to make my decisions. My final decisions and recommendations come from what the chart is telling me. So absolutely technicals are still my main focus.
Casey Stubbs: 09:37
Okay, well that’s good. So now we just kind of focus back on what somebody else could be doing because we’re listening to your story. It’s really kinda cool that you’re, you’re going out on your own, you’re learning how to trade the markets, that’s really exciting but this show is geared to helping people increase their cash flow. Maybe they’re stuck in a job, maybe they’re doing okay, but they wanted to get more freedom. What types of things can the average person do inside the market to help them get additional cashflow?
Hima Reddy: 10:16
Sure. So interestingly, I don’t really talk about it much as an educator because it’s part of my husband, my personal plan, but we also are looking to not wait until we’re 65 to be able to retire. We also don’t feel that we have to be slave to anything, even if it’s me and my business or him and his job, he’s a doctor, but at the same time we are willing to put the time and effort in. So here’s what I look at trading as being the best tool for trading. Whether it’s day trading or swing trading provides you, if you do it well and you are tracking what’s going on so you’re improving over time, provides you additional cash flow that you would not get from whatever your day to day living is made off of. And that’s the point. And then the point of taking that cash flow in is to, in my view, the best thing is to take those paper assets, right?
Hima Reddy: 11:11
That’s what dollars are. Hate to break it to anybody who didn’t realize this, but the US dollar, that beautiful green thing in your wallet really doesn’t mean a lot just sitting there. So putting it into a business or real estate or a variety of other investments or investment tools is where you actually get money to go work for you. You don’t work for money anymore. So you use trading and investing to increase your pool of money. Those paper assets. But then my recommendation is with knowledge, with professional help, Hey, don’t just jump in there. You go put them into what people call hard assets. That’s why people talk about real estate so much because of the a, the need for it. I mean there’s a reason there’s government tax deductions that are vast in real estate because the government wants people to build housing and provide it for people.
Hima Reddy: 12:02
It takes the job away from them, which they’re happy to do, and so creating paper assets through trading and then funneling them into hard assets that then provide cash flow through, you know, monthly distributions, quarterly distributions, etc. That is what we’re learning to be the true secret to taking any dollar you earn and really maximizing its power for you.
Casey Stubbs: 12:28
So then, somebody who is not making any type of additional cashflow on the side. The first step then would be to start saving some extra money off of what they earn so that they could use it for investing. That would would you say would be the first step?
Hima Reddy: 12:43
Absolutely. So first rule of investing, whether it’s trading or anything else, is to not invest money that you can afford to lose. Now, that may sound strange at first. You know, listen, because we all feel that any money we have can’t afford to lose, but if you look at your lifestyle, you look at what’s coming in, you look at what’s going out expenses and you start to save for trading account. Then when you reach account size that professionally you know, can sustain the type of training you want to do. Now there’s no one hard number I will say for the E-mini S&P, that market is very active and has a lot of power to it, but futures because of the margin requirements don’t require as large account size. I’m not saying to go get started with 500 bucks, but you are able to day trade futures a little bit faster if you will. Then perhaps some other markets, but you gotta do your due diligence on each. So yes, saving up to reach that goal, account size. Then when you get that account, making sure you’re getting education along the side, whether it’s from an educational mentor like me or anybody else, there’s many of us out there. I’ve got my trade thirsty colleagues. I’ve got professional MTA colleagues, so many people to seek and learn for it because we don’t, we don’t go into anything else in life blind, right?
Hima Reddy: 14:00
People don’t just walk into ORs and stop operating. People don’t just, you know, dig up land and start building an apartment. Yet people think they can start trading with like one pamphlet or something like that. That’s a little crazy.
Casey Stubbs: 14:15
So based on what you’ve done in life, you’ve learned from a young age, you learned about the markets, you learned about technicals, but you also immersed yourself into different situations and many different people, different learning environments to help you gain the knowledge and experience and understanding that you needed in order to make and have success in the area of trading. Sure. So yes, I by design and I was able to, like I said, go and have that institutional experience, but I already had an interest in finance, right? So if someone’s listening and they don’t work anywhere in the financial realm, it doesn’t matter.
Hima Reddy: 14:56
You don’t need to know about the markets first to be able to go trade and then create that cash flow to help you fulfill your dreams. You can learn all of this and I’ll tell you because I’ve got a finance degree and I didn’t learn any of it there, so that should be your first obvious lesson. You don’t need a shiny finance degree to learn to trade and invest for other things.
Casey Stubbs: 15:21
I’m a big believer in learning, right. I love learning because that’s what I do for fun. Like that’s my fun thing is I go read books and I study and I, but I’m not a big fan of learning without purpose. So if you’re going to learn, I want to learn stuff that can help me and make me more fulfilled as a person. It doesn’t necessarily have to be about making money, but sometimes it is. But history, I love history. You know, I want to know what happened in the past, you know, just stuff that I enjoyed doing.
Hima Reddy: 15:53
Well. One thing too I wanted to say on these different experiences have taught me is that so the cool thing, the one, one of the few cool things about having to be in those rigorous corporate jobs is that you always had goals. Whether you put them out for yourself or your manager did right, there were certain goals, number of subscribers to certain research, number of dollars made in a certain product, whatever it is, and a goal is meaningless unless it has a time around it, a date, a month, whatever. I really think that that needs to be incorporated into trading from the get go. Everybody comes in and says, I want to trade and swing trade, day trade, whatever, and make money.
Hima Reddy: 16:29
Well, two questions for you and if you start on this path, you’re ahead of many, many people. How much money do you want to make and by when or how often? If you know you want to make x dollars per day or x dollars per week and you refine your approach to cater to that goal and you monitor how you are progressing along it, then you’ll know whether you’re going to be successful on that. So I used that approach in trading and investing. I also use it for my business every quarter. I started about two years ago and every quarter I have a goal and every single day I’m looking to see where I am towards that goal and what I need to adjust to get there. So by doing that with your trading and investing, like I said, I think will be many, many steps ahead of the masses and the crowd kind of just come in blindly and don’t know what they want from it.
Casey Stubbs: 17:17
And I think you and I think alike in that area because I’m like that too. I have goals for everything. I’m what a lot of people call a super nerd because I just, I have my paper, my journal, I just write all that stuff down. I keep track of literally everything. I keep track of to try to go forward and I like that advice, get a goal of how much you want to make and how often and by when. So I think, and I would say start baby steps, right? So you would keep your goal if you’re making zero extra. Anything extra is a good goal to start with, right?
Hima Reddy: 17:54
Absolutely. Well, and that’s the monetary side, but the thing is I think any great trader or investor, you know, even Warren Buffett, right? He probably didn’t just from the first day he made a trade say, okay, I want to make this much each quarter he probably had also goals of what he wanted to learn to help them reach those monetary goals.
Hima Reddy: 18:14
So a goal can also be, you know, get my brokerage account up and running within the next four weeks. Invest in one course that I already know has worked for somebody else and give it my full attention and then practice on a simulator with it. There’s so much technology that we have now that wasn’t even around when I started on this in the late nineties, early two thousands that allows you to practice in as much of a real world environment as possible. Think about that guys. You can like go practice buying real estate. You really can’t go practice building a business, you know, there’s isn’t there like a video game like the sims or something like, playing in a virtual world.
Casey Stubbs: 18:53
Yeah, play it when I was a kid.
Hima Reddy: 18:57
Did you? Okay. I remember seeing that and I thought, well that’s great for like day to day life, but I don’t really know in what other field besides trading and investing, can you take everything you learn and simulate it so that you practice. You kind of work on your approach, your emotion management, everything, and then when you’re making money on the simulator consistently you can move to real trading. It won’t be the same. Let’s be honest, a real dollars, not the same as simulated, but if you can’t make money in the simulator, chances are you will not make money in real trading. So there is a huge advantage to using trading to generate that cashflow because you can practice in a way like you can’t in other fields, and I’ve tried many simulators and I think they’re great, especially even for trying a new tool. Even once you become more advanced and proficient and you learn something new, say for me and you’re like, oh, what is Hima’s indicator like, well let me go simulate test it, rght? You have that.
Casey Stubbs: 19:51
Right and there’s very little risk there. There’s the time that you spend and maybe the investment on the indicator, but compared to blowing a $10,000 trading account, that’s very little risk. Now because this is focused towards some beginners or just anybody that’s not making any extra money or they want to start making some extra money. There’s a lot of fear that that is behind the markets. Like a lot of fear of just at the idea of, okay, this is scary. I can’t do it. And even things that get repeated a lot where people will say 95% of the people that are trading fail. They ended up losing every penny that they have. It’s all stolen by the institutional investors in the professional traders are taking all your money. It’s a zero sum game. So with all of those challenges and obstacles involved with trading, what is the actual reality? We want to have a reality check here. What is the reality of someone getting involved in the market and actually making some extra revenue versus just losing everything they put into it?
Hima Reddy: 21:07
Well, my gosh, Casey, you reminded me of all the harsh stories I heard when I got into this, so I’m a little, like, wow, you’re right. It was presented that scarily when I first learned about it. So here’s the things that I’ve learned along the way that are some of what I provide to my subscribers and students. First of all, like I said, if you don’t have a plan, then you’re right, you’re among probably the 90% of that 95% that are destined to fail because they’re just coming in blindly and they have no set plan. The plan doesn’t have to be perfect. It can change along the way, but by starting with some goal, whether it’s a learning goal or a style of trading goal like picking day trading versus swing trading or vice versa, or a monetary goal. If you start with a plan and you lay out this goal in that it’s called, you know, the smart structure, s m a r t, right specific, measurable, etc. and you can google. This is an open concept, but there are actually in this day and age, a lots of different types of journals for goals like physical paper journals. I use one too, like everyday I write how I spent my time. I focused on my goal. I have certain targets to hit. If you do that for your trading, that absolutely will show you very objectively upon review after a week or a month, if you’re going the right direction, if this is for you, so that would be my first step, is still coming back to those goals and actually monitorin the day to day. Number two is expose yourself to as much information as possible, but be very selective about what you invest your time and money in because you will be flooded the moment you start signing up for things and it’s not necessarily more than you can handle, but don’t think that you have to learn from 100 different people to find them that might work for you.
Hima Reddy: 22:53
Look for what resonates with you. Look for how that person’s way of teaching it resonates with you. Try it on the simulator and if it works for you, then keep yourself open to new teachers because there’s always value in that, but make sure that if something’s working for you, you stick with it. I can’t tell you how many traders come to me telling me something that’s been working for them and they just decided they’d been using it too long and it’s destined to fail so they throw it out. That’s not necessarily true. So those are other two tips I think that will help you quantify the reality of whether those warnings are actually meant for you. Third, and this is super important, knowing what kind of person you are. Some people cannot fathom the idea of sitting and, you know, having an open market position overnight while they sleep.
Hima Reddy: 23:40
Then guess what? Swing trading may not be the best thing for them. Now they may be better at day trading, which simply means that by the end of that market period, you don’t have any more positions, your even. It’s like you were never there. Whereas day trading can be more volatile, meaning there can be a lot more faster moves, and so if you don’t like to have to react quickly and make quick decisions, then stay out of day trading. Knowing yourself, and there are books on this, The Mental, I’m sorry, the Discipline Trader. There’s many in the technical analysis realm, Mark Douglas is one very famous author on this, wrote several books that really are important, like every single trader, if you ask them about Mark Douglas will say yes, me to read those books, to know yourself better, to know what is the best cut of trading for you. So I guess those are my three pointers to help you navigate all the fears and warnings that will come your way because they’re there for a reason, but obviously if they weren’t, if they were just blanket and everybody failed, well then nobody would still be doing this. I mean, it would just be that industry, right?
Casey Stubbs: 24:46
Right. So it’s definitely worth it if you’re able to count the cost and you’re willing to pay the cost because it’s not gonna happen for free, right? It’s not just going to be, you’re going to start trading and everything’s going to be magical and wonderful and you’re going to make extra money on the side.
Hima Reddy: 25:06
Right? You’ve got to invest in it just like you would if you were taking up any other vocation or profession. Again, it’s fascinating how people think that just because they have a computer and you know some money saved up in the side that they can just immediately start, go trading. When you do that, that’s called gambling. That’s walking into a casino and that’s the public image that trading has too many people who don’t understand that preparation is required. If this was all just chance, again, there wouldn’t be people who are able to be successful on it. Whether everyday people like all of us or professionals managing millions and billions of dollars. there are some who are very good at it because they’ve made it a system. They have goals. They know themselves.
Casey Stubbs: 25:51
And that’s what also backs up the statistics that says that most people that win the lottery or end up broke later on because they haven’t built the framework to contain what it is they’re working for. Whereas if you’re working to increase your cashflow and increase your wealth, you’re going to build a systematic framework and you’re going to pay the cost that’s associated with earning that and you’re going to utilize it wisely rather than just have it be random.
Hima Reddy: 26:18
Absolutely, there’s something to…actually I really liked those TV shows about, you know, I won the lotto and it changed my life because every time I watched them, sadly I learned a lesson about how the average person out there really doesn’t know anything about what are some of money comes their way and this is a true story, Casey. Now I remember I must have been 10 years old and I was driving somewhere in the car with my dad and he asked me, Hima!, I was like, yeah, if you won a million dollars, what would be your plan for it? I was really young. I mean I was not under 10.
Casey Stubbs: 26:48
It’s a great question.
Hima Reddy: 26:52
And I thought. And I felt very overwhelmed. I was 10 and driving the car with my dad and said why are you asking me this? I don’t know. I don’t know. And my first thought was I don’t know, I’ll give it to charity. And he said, okay, that’s a noble thing, but the reason I’m asking you is this, if you work in a field and do what you love and create profit for the world, it’s going to come back your way. You need to know what to do with money that comes your way, otherwise you’re going to lose it. You may not lose it, you know, by design, like the lottery winners, they just overspend. But I thought that was so great and now I realize what he was trying to get me to think about is to be prepared for the fruits of your labor to actually show up and then be able to manage them. So in my own little personal ready economy, my husband and I know every dollar that comes in that we didn’t expect, you know, I don’t know if from a relative or something like that, we know what account it’s going into and the purpose of that account. And there’s never any questions anymore because you know, we know and we have that laid out, so if I want a million dollars, fantastic. I’ll still teach. I’ll still work. I’ll just have a nicer house, car maybe, I don’t know. I don’t think I will throw it all on some major expense and then drag myself into the ground because I’ve created a system of handling money that’s coming in that I’m for.
Casey Stubbs: 28:06
Yeah, that’s really good and I’m just..the name of this show is the Cashflow Hacking Podcast, but that doesn’t mean at all that it’s easy, right? It’s just, it’s just the name means strategies because it either, no matter what your strategy is, it’s gonna take work. It’s going to take preparation. It’s going to take planning. It’s going to take goal setting and I liked that you said you watch these stories and you hear about people that don’t know how to manage money or don’t know how to utilize it. Well, that’s why I liked doing this show is because this can help people that are in that situation. They might not have a clue, but if they start listening to people like you who I have on the show, it can help start to give them a financial foundation and baseline to which work on so that they can begin to build an educated and smart life about money.
Hima Reddy: 29:00
For sure and that points me to..Actually, I recently attended a conference where Robert Kiyosaki spoke. That was the first time I saw him in person. I’m sure Casey, you know who.
Casey Stubbs: 29:05
I love the book, Rich Dad Poor Dad. Is the best.
Hima Reddy: 29:13
Amazing. So any listener out there, if you have not read Rich Dad, Poor Dad, just pause this and go get yourself a copy on amazon. It’s like 10 bucks.
Casey Stubbs: 29:21
You seriously need to do that.
Hima Reddy: 29:24
That is an amazing book. It ties to everything that you might be doing. Trading and investing, real estate, everything. So it was really cool to be able to see Robert Kiyosaki speak in person. And couple of interesting points he made were about how we all walking around the world and we think we know how money works and how our systems around this work. But if you walk up to somebody on the street, you know, like any of these TV shows hosts you and ask them, what is money? I don’t think most people can readily define that. What is currency? How is it different from money? What is the velocity of money or what can money do for you besides sitting in a bank account? It’s really, you know, amazing that, that education obviously is not part of our public education systems. It’s not really taught in colleges, but you can get it. So you have to be proactive to find that stuff. And you know, starting the path of say a Robert Kiyosaki is a great way because it just opens you to all types of things you never really thought about. And so, I think it’s really, it’s sad to have to learn from somebody else’s, you know, not knowing, but the more you do that, the more you realize what you’re doing and how it’s working for you, I guess is the best way to say it.
Casey Stubbs: 30:41
Very good. All right, well we’re getting towards the end. I’ve really enjoyed our time, but I wanted to ask you, I know you’ve got a new book coming out. I wanted to ask you if you could tell us a little bit about it and who it would be for like what types of people would be a really benefit from your next book that’s coming out.
Hima Reddy: 31:03
Sure. So my book is In That Realm of Technical Analysis, which is again price analysis, supply demand analysis, and it specifically focuses on the work of a guy named WD Gann. He was a trader and investor in the early 19 hundreds and it was his books that my dad started me on. So that’s why I have this again, unique introduction is works. I got these as a young person and had to read them and figure out these complicated methods and I took what was my experience of doing that, taking something complex and making it simple and created my own book.
Hima Reddy: 31:30
The first edition was called the Trading Methodologies of WD Gann. So my second book that’s coming out now is published, going to be published by Wiley. It will likely have the same title or maybe slightly altered like the Trading Methods of Wd Gann and because of its initial design, it will be for anybody who wants to learn more about trading, investing. Beginner, intermediate, advanced, doesn’t matter as long as you know how to observe a price chart, which you know, now they’re on TV, CNBC and stuff all the time, right. Price along the vertical access. Time along the bottom. As long as you can figure out what that means, you can learn the concepts that I’ll teach in there. And it will also include money management because that’s super important aspect of trading. You don’t just go blindly buy and sell. You have to understand what you’re risking, what the potential reward is. And it will also cover a bit on forecasting. Forecasting may sound like a little strong, but you can, using math and probability analysis come up with points in the market of price and time that are likely for the market to get to. And I have done this many times. Called out on the ES or other markets and said on this day this market probably be at this price, so let’s trade in that direction accordingly. And so that’s what the book will cover, but on a level such that anybody coming in with any level of stock knowledge, even just super basic, again, being able to understand what the chart looks like, we’ll be able to get value out of it. And this is going to be a hardcover but short length book, maybe a few hundred pages, you know, under 50 bucks, something like that. I just want everyone to realize this is not some encyclopedia who, whoever knows an encyclopedia is besides me, soo…
Casey Stubbs: 33:20
Okay, well thanks for sharing. And what we’ll do is we’ll, we’ll definitely put a link to the book when it comes out. Will show people how to get access to it. So that’s pretty cool. And also we’re finishing up so I just want to give a little bit of a recap and then I’m going to give you a chance to talk about how people can get in touch with you and what it is that you’re actually teaching. So the first thing is we’ve been talking to Hima and she has given us some really good tips on how to get involved in trading if you want to create an additional revenue source. So the first thing that she said was to create goals and to really have specific goals. And it was interesting Hima you weren’t here but the last guest said the exact same thing. So that was a theme today is to come up with some really solid goals and then work towards those goals.
Casey Stubbs: 34:17
And so I want you to come up with an action plan and she mentioned some other things as well, like education and immersing yourself in the environment. But I like to give one really key action step for the show and that would be just if you want to make extra money trading, start developing a plan, start doing goals, whether gold step one is to educate yourself, step two opening an account. Just begin to write out goals with an action plan and then follow up and actually execute on that plan. So she’s given us some great framework for those of us that are listening and want to take action. There is something to work with here just based on what we’ve learned today. So take action, be action takers. So thank you, Hima for coming on the show. And if you could share how to get in contact with you and what it is that you’re teaching and if somebody wanted to start learning from you.
Hima Reddy: 35:12
Absolutely. Well thank you again, Casey, for having me. This is a really awesome conversation to be able to have. You know, I’m usually just talking about markets and prices and stocks all the time. So this is important because it’s much broader but still very key. So the best way to get in touch with me and to know what I’m doing is to visit himareddy.com. and you can sign up to get my free, I call them Wednesday Weekly Updates and they include different analysis and different markets. So if you’re brand new to looking at markets, that’s a great way to kind of see how somebody like me is looking at them. I also include what I call Helpful Hima additions and sometimes I feature resources that I use that I think are helpful for all of my followers to pay attention to whether they’re specific to trading or not. And then the last category is where I sometimes take my analysis and I go really deep on a specific report so it’s a little risque, but I call those Skinny Dips and that is something I sent up now. And then these are all in the same place that they get sent to. You receive them via email on Wednesdays, so you can just again visit himareddy.com. If you want to go right to that, sign up, just go to himareddy.com/gift and that’s where you’ll see all that recapped.
Hima Reddy: 36:26
Now, if you have a specific question, feel free to email my team at support@himareddy.com and they will help you out. In fact, here’s one thing I’m going to do to guide is get you guys to be action takers, right? I don’t go around telling everybody all the awesome tools I use all the time, but if you email support and you put in the subject line and just say journal or cashflow so that I know you came from this show. I will have my team let you know the journal that I personally use, like I said, to manage my business goal in trading goals and they can just give you a link. It’s, you know, I just buy it. I don’t have any relationship with a company, but I want to put that out there to you so that I get you to take action and start your own journey of expanding your ability to, you know, have the financial freedom that you want. And so I look forward to seeing you and you know, webinars and other events I do. You’ll stay apprise of them by coming and signing up for my weekly Wednesday updates. You can unsubscribe anytime. I understand email can get crazy, but just check out my website and sign up to learn more and yeah, best of luck to everyone either way.
Casey Stubbs: 37:32
All right, well you know, I’m actually going to go ahead and take you up on that. I’m going to go and email you to get that journal.
Hima Reddy: 37:39
Oh sure. For sure. Yeah. Probably just putting journal in the subject is for my team. Go ahead and do that. We’ll test it out.
Casey Stubbs: 37:46
All right. Well thank you so much and it’s been great having you.
Hima Reddy: 37:52
Great. Thanks so much, Casey. Take care everyone.
Outro: 38:06
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