While Bell’s quote may seem idealistic, there are countless stories of scientists (Thomas Edison comes to mind) and entrepreneurs who faced numerous setbacks only to learn from their mistakes and eventually achieved great success in their chosen fields of endeavor.
But did you know that there’s a longer version of Alexander Graham Bell’s quote that never got much attention?
His original quote was, “When one door closes another door opens, but we often look so long and so regretfully upon the closed door that we don’t see the one which has opened for us.”
As you can see, Bell’s original message went beyond one door closing and another one opening. It alluded to our ability to choose what we focus on.
Many people see a closed door as a loss or failure, but successful people see it as an opportunity for growth and a chance to reinvent themselves.
In case you didn’t notice, we’re living in a time of great change. And the fact is, most people resist change.
On the other hand, some individuals embrace change and use it to redesign their lives in a positive way.
Today, we’re going to meet a trader who embraced change and turned adversity into opportunity.
John Desey is a former financial advisor from Los Angeles, California. When COVID-19 hit, his business doing commercial loans for small companies virtually disappeared overnight. Instead of panicking, John turned adversity into opportunity and became a serious trader. Something he had longed to do for years. Now, with the help of Jason Bond’s Rooster Report, he feels that he’s on the right track and hopes to become a full-time trader within a year.
Los Angeles, California
John Desey is a former financial advisor and Rooster Report subscriber from Los Angeles, California.
Recently, David Cross, our editor here at RagingBull, had a chance to talk with John about the challenges he’s facing as a businessman and trader.
He’ll tell us how he embraced the changes brought about by the pandemic and the economic turmoil of 2020.
David @ RagingBull:What’s your profession at the moment?
John Desey:Well, I guess you could say I’m a COVID virus trader. So I had a great little business. I was doing commercial loans for small businesses. I wasn’t trading at all. And had taken about a year and a half away from trading.
Then COVID hit and literally shut my business down overnight. So I guess right now, you could say I’m a self-employed trader.
David @ RagingBull: How did you get into trading?
John Desey:I originally got into trading as a series seven licensed financial advisor. So I have a ton of Wall Street knowledge. I have lots of knowledge about fixed equities and fixed income. But you know, that didn’t help me much with trading. That’s for sure. So here I am.
David @ RagingBull:I see you’re a Rooster Report subscriber. Are you in any of the other RagingBull services?
John Desey: LottoX was the first service I signed up for. But I realized within a few days that it wasn’t going to work for me. Then I saw Jason Bond’s Rooster Report, and it seemed like it made more sense for me.
I really like the set up forRooster Report. You know, it’s simple. Just one trade per day. Just as advertised. Sometimes it chases and takes the trade. And sometimes it doesn’t. I can deal with that.
Also, through Rooster Report, you get access to more than sixty of Jason’s educational videos. They’re very, very good.
It’s obvious that Jason has a background in education because he has a special way of explaining things so you can easily understand them. Plus, he’s genuine and leads by example.
“I have a ton of Wall Street knowledge. I have lots of knowledge about fixed equities and fixed income. But you know, that didn’t help me much with trading.”
David @ RagingBull:Do you mainly trade stocks, or do you trade options as well?
John Desey:Over the years, I’ve traded everything. I’ve traded futures. I’ve traded straight stocks. I’ve traded penny stocks. But right now, my focus is on options.
David @ RagingBull:Do you do your own chart analysis and find trades yourself?
John Desey:I do some chart analysis, but you know it’s gotten really simple over the years. I think I’ve learned that from both Jason Bond and Jeff Bishop. I just watch a couple of moving averages.
David @ RagingBull: Do you use a specific charting software, or do you just use what your broker gives you?
John Desey:I use ThinkorSwim from TD Ameritrade, and it does a great job. It’s a great platform. I’ve tinkered around with many different indicators for technical analysis. I use a little bit of RSI and MACD, but I’m not a hardcore technical/analyst kind of guy.
But that’s about as far as I go on finding my own trades. I’ve learned over time that I’m not good at it when I start looking at individual stocks.
So you know, that’s where Rooster Report really benefits me. Jason has me considering stocks that I’d probably overlook because there’s just too much out there. There are too many things to look at.
“I really like the set up for Rooster Report. You know, it’s simple. Just one trade per day. Sometimes it chases and takes the trade. And sometimes it doesn’t. I can deal with that.”
David @ RagingBull:Who else are you following in terms of trading?
John Desey: Right now? Nobody. I’ve just gotten rid of everyone because I think I was following too many people.
David @ RagingBull:What’s been the best trade you’ve made recently?
John Desey:My most recent winner was right out ofRooster Report.It was last week and was a put on SPY. I made 56% on that trade, overnight. The S&P was hitting a new record high, and Jason nailed it!
David @ RagingBull: What’s been your biggest trading lesson so far?
John Desey: I would say my biggest lesson, at least recently, or maybe even up to this day, is to have a longer time horizon. I was initially a day trader and with futures did 20 to 30 round trips a day.
Now, I’ve expanded out. I’m definitely not a long-term buy and hold guy. Right now, my focus is on anywhere from a 5-day hold to maybe even a 60-day hold.
I’ve experienced a lot of frustration and spent lots of time shorting a market that goes up and just kind of goes with the flow.
As far as options go, I’ve learned a lot from Jason. Now I buy either in the money or at the money. I used to buy a lot of stuff way out of money. Jason also convinced me to start buying stuff with longer expirations.
David @ RagingBull: Is that approach working for you?
John Desey: It’s been up and down, but I think I’m on track right now.
“My most recent winner was right out of Rooster Report. It was last week and was a put on SPY. I made 56% on that trade, overnight. The S&P was hitting a new record high, and Jason nailed it! “
David @ RagingBull:Is there anything else you’d like to share. Your plans for the future, for example?
John Desey:Well, after my time as a financial advisor, I was a consultant and trainer. I’d love to get back into something like that. I could probably teach aspiring traders all the mistakes they shouldn’t make.
My goal has always been to earn a full-time living as a trader, and I’ve been close a couple of times in the last 7 years, but I just haven’t quite gotten there.
It’s hard to say, but I could see myself going full time by the end of next year, assuming that I’m 100% focused on trading.
And if one day I have an opportunity to teach and help aspiring traders, I would really love that! I understand why Jason, Jeff, and the other RagingBull teachers do this. Personally, it’s very rewarding to see people succeed.
David @ RagingBull:I would wholeheartedly agree with that. John, I’m truly grateful for your time, and thanks for sharing yourRooster Reportexperience with our community of traders and me. We wish you continued success.
Raging Bull does NOT track or verify subscribers’ individual trading results and these individual experiences should NOT be understood as typical as or representative. Please see our Testimonials Disclaimer here: https://ragingbull.com/disclaimer.