➡ The article discusses the rising cost of living and its impact on families and individuals. It criticizes the current administration’s economic policies, attributing them to the surge in oil prices. The article also introduces Troy Noonan, a trader who shares his strategy for financial freedom through trading, particularly in crude oil. He suggests that despite the economic instability, individuals can still thrive by learning to trade and adapt to market changes.
➡ The article discusses the impact of rising oil prices and stubborn inflation on the market, and how these factors might affect trading. It also talks about the potential effects of a significant interest rate cut by the Federal Reserve. The author suggests that if interest rates are lowered, stocks may rise due to reduced borrowing costs. The article also introduces a simple trading strategy called the ‘backpack trader strategy’, which involves recognizing and predicting price patterns, and encourages people to consider trading as a way to gain financial independence.
➡ The program encourages learning at your own pace, focusing on small steps to understand trading. It uses a simulation for practice, ensuring no real money is at risk. The goal is to master the process before trading with real money, using a method similar to learning music – mastering simple parts before moving to complex ones. The program aims to equip you with a lifelong skill, not a quick fix for immediate financial needs.

Let’s start with this. Prices have gone up, and families and individuals are dealing with the realities of that bread costs more, that gas costs more. And we have to understand what that means. That’s about the cost of living going up. That’s about having to stress and stretch limited resources. So that’s someone who is basically like a kid in the fifth grade who’s writing a book report, but they haven’t read the book. That’s every time I see her on camera. That’s all I can think is that she’s the kid who didn’t do her homework.

Right. Now imagine you and me, but we’re in front of 15,000 people that are hanging on our every word and you’re kind of free balling. And maybe you really haven’t even done the research. Like someone’s asking you, how are you going to fix the economy? Right? And then you have some, not well, the problem is everybody needs money for, cause the bills and we’re working on that. Like what? Well, and you can, that’s so obvious when you know, with the, the passage of time is significant and the significance of the passage of time is significant cause of the passage of time.

Exactly. Hey gang, it’s me, Dr. Steve. And of course we all know that bidonomics has been an absolute disaster and we look forward to correcting that disaster in mere weeks from now. But until then, you may have noticed the recent surge in oil prices, crude oil prices have reached over $90 a barrel. All thanks of course to reckless energy policies that are strangling our economic recovery brought to you not merely by Biden, but also by cackles Kamala herself. Her influence on this administration has been catastrophic to say the least, but the good news is that there is a way to break free from this mess.

We have with us our good friend and sponsor Troy Noonan, the backpack trader who’s going to share how you can escape this crumbling economy and thrive by building your own financial freedom through trading. Just scan this QR code or click the link below to get in on the secrets. Troy, welcome back. Great to see you as always. It’s great to be here again, Dr. Steve. Nice to see you again. Now while we had a great time in the Mediterranean, I know you’re still, still there. Troy was part of our crews that we’re on.

You guys know we, many of you were invited. Many of you came. All of you were invited of course, but many of you came. Troy was one of our guests. He was, he was there. He did a presentation, a precisely on what we’ll be talking about today. I mean, you lit up the room, man. They loved it. It was so awesome. And Troy, Troy is still in Europe. He is stuck in Italy, which I think is awesome. He’s, he’s the backpack trader, right? I’m backpack trader-ing. You’re literally backpack trader, right? If you’re, if you’re give everyone before we dive into these policies and energy and so forth, just give everybody a little bit of a snippet of what is the backpack trader lifestyle.

Yeah. So if you have a laptop and an internet connection, you could pretty much trade from anywhere. You learn a few techniques, you get really good at it. You focus on maybe one specific market. For me, it’s crude oil. So it’s kind of appropriate to our topic. I trade it almost every day. In fact, they took a live trade at a cafe in Florence. It literally took two minutes. That was my workday for the, you know, it was unbelievable. This is the one you actually had filmed. You, you got a video of this.

Yeah. It was spontaneous because it was somebody there and I said, Hey, could you please stand behind me and record me? I’m going to do this trade. He’s like speaking Italian, but she got it. And she understood and she recorded me and I ran my recorder on my computer also. And I was able to piece together in like two minutes, this trade that it got in and it hit all its targets and it got out. And if you would have sneezed, you would have missed it. It was unbelievable. Perfect. Like you couldn’t have written a better Hollywood script on how that worked out, but I could share it with you if you’d like to see it.

Yeah. Yeah. That would be awesome because I mean, I know a lot of our Turley talkers love the fact that you’re able to be free. You’re able to travel wherever you want to travel and you make your money just by trading on the market with a, with a laptop a few minutes a day and you show others how they can do that as well and have the same kind of freedom that you’re living out right now as you are in Bologna, Italy, which is so exactly the backpack trader is just a symbol of freedom that you can get if you learn how to trade, which I know it mystifies a lot of people if they’ve never experienced it, it’s hard to imagine what it’s like and it’s like people who knows, they think I’m launching a spacecraft to Mars or something.

It’s, but it’s really just pushing a couple keyboard buttons in the mouse and you learn a few little things to do and you just practice it in a simulation account with no money at risk, you can get really good at it and then start small and grow it over time with compounding and the stuff that we teach. But ultimately it’s a symbol of freedom that you get. We don’t want you to have another job, right? We don’t need another job. We want to get rid of our job and be able to do this instead.

And then you hit your goals and then you go live your best life for the day. Tomorrow we show up, do the same thing again and it works pretty well. He gave a presentation on the ship that just blew everybody’s brains when you were showing him how you do it on the on the we had it hooked up to to a screen. It was everybody got to see it. The comments we got are awesome. Gang, if you do want to check out what Troy does, just scan the QR code or click the link below and get in on what he’s doing.

It’s absolutely amazing. He’ll be your mentor through all of our mentors. Well, let’s let’s talk about the crude oil situation. And so in your view, kind of from a macro economic view, how how Kamala Harris and this administration’s policies contributed to the surge in oil prices and and and further economic instability that we’re experiencing? You know, I just think there’s a lot of confused price action because I mean, she just wasn’t became the nominee. But a month ago, right. Does anyone know what her policies are yet? I’m not sure. And so, you know, and that’s reflected in the markets.

And also, I think crude oil is kind of marching to rhythm its own drummer, so to speak, in a drummer. It’s there’s outside people that are sorry. People don’t know Troy is a drummer. He is a musician. So there’s a little little inside joke there. Go on, go on. We should have brought our access to jam on the ship, by the way. Maybe next. Right. But anyway, oil is influenced by a lot of outside forces around the world that have nothing to do with US politics. If, you know, OPEC decides to overproduce or one country like Saudi Arabia wants to, you know, cut production or whatever, it affects oil.

And so there’s so many things that affect oil. I don’t claim to know what they are. I don’t know if anyone knows. Everyone takes their best guess at it. So I just look at patterns and like the trade I told you about, it actually went down and it only went down, I don’t know, 20, 25 cents, whatever it was, but I was in and out and ten dollars a contract. One penny is ten dollars a contract. So if it drops 20, 25 cents and a minute or less, you make two hundred and fifty dollars a contract just like that.

And so if it goes down, if it goes up, you know, I don’t know. I mean, no one knows really what it’s going to do next, but it is sitting technically on a very key level right now. It’s actually come off of that high price that you mentioned. It’s it broke down below 70 dollars last week. Last week, oil dropped about seven dollars a barrel. This is a big drop. That’s seven thousand dollars in of one contract. So if you sold a contract with crude oil and you held it for the week, you’d be seven thousand dollars richer.

Wow. From a trading point of view. Right. So but now it’s sitting on the two hundred week average. That means the price over two hundred weeks. It’s the average price. And that’s usually when it goes up again unless it breaks lower. No one really knows what it’s going to do. If it breaks lower, that could signal a weakening in the economy, which is why it’s breaking lower or other things around the world that cause that. But it’s also technically where people might come in and start buying it because maybe it’s at a discount and they think it’s going to get driven up again.

Maybe because of of Kamala Harris’s policies, but she may not win, though. So it’s like there’s this indecision. No one knows really what’s going to happen. So right. What about with the with the rising oil prices together with with the stubborn inflation that’s going on? Do you think the combination of those two are going to affect affect the market in a particular way in the coming months? Yes, well, I mean, rising inflation obviously means that money you need more money to buy the same stuff. So it should push the price of oil up.

Right. You know, some of it’s counterintuitive because if oil keeps going down, it’s going to imply a weakening in the economy. So a strengthening in the economy might push it up, too. So it’s like I there’s so many cross currents when it comes to oil. It’s so hard to know just one piece of the puzzle. Obviously, we hope that inflation doesn’t go up anymore. You know, and and I live in California, so I really feel it. I get my revenge trading crude oil every day. There you go. I like psychologically. I’m like, yeah, it’s the great corrective.

Yeah. Yeah. I want dollars to fill my gas tank, but I’m going to trade it and make a lot more than that today. So there you go. Success is the best revenge. The success is the best returning of lemons and a lemonade. I was reading the Federal Reserve. They still seem reluctant, at least at this point, to lower the interest rates, despite the claims of inflation cooling. We may see we may end up seeing the most significant rate cut in 15 years, depending on the next inflation report. How does that how would that affect the trading environment for everyday investors? If they cut rates.

Yeah. If they cut rates, and I think we could buy. I think that stocks will go up, obviously, because stocks like it when rates go down because the cost of money and the cost of borrowing is less so that, you know, businesses start to invest again. And but then again, you know, the irony is I could heat up the economy again and maybe it kicks in inflation as a result. So it’s like. Follow the price action. The price action is never you can’t hide from itself. Like if you remember on the ship, we talked about you learn how to identify a specific price pattern that happens all the time.

And so because it happens all the time, you can predict what’s probably going to happen next. Right. And you could be correct a large percentage of the time. And that makes for a great trade because you’re going to win a lot more than you lose. You’re not going to win 100 percent, but you don’t need to. You can go two steps forward, one step back, two steps forward, one step back, row your position. And so if the price goes down, you make money when it goes down. If the price goes up, you make money when it goes up.

It’s just the pattern that you’re looking for where you could predict the next thing. And that’s that’s what I focus on. This is stuff I teach. And so trying to guess what’s going to happen. You might get it right, but it might just be a guess. How do you even know that you were right? It might have just been the broken clock is right twice a day type of thing. I don’t know. So I just try to keep it really simple as a trader. As an investor, if they lower interest rates, you probably could expect the markets to rise and starting to buy some stocks.

Maybe, you know, technology should go up. You always make money with technology of rates go down. And, you know, there’s a lot to choose from in that world. That’s an investor, right? So I mean, this is that’s a really nice segue into how someone like myself, for example, with no prior trading experience, how can we actually start building financial security with your backpack trader strategy, especially in these volatile times? Yeah, so volatility is fantastic for trading. It may not be good for peace of mind for people sitting around the kitchen table every day, wondering what’s going to happen if you have a job or you’re going to lose your job or whatever.

So having a skill to be able to trade you’re not dependent upon anyone. Only yourself is a really great skill to have. And it’s and I encourage people to to to try that, even at least explore it some and see if it’s right for you. So what I teach is a very simple idea. You have a chart, you learn how to view it. And there are my my indicators will show you a trade set up where you see the entry, where you get in, you see the target objective, where you’re trying to achieve.

And you just focus on that and you learn how to do it with repetition. It’s like almost like like learning a musical instrument. Only not as hard. It’s much easier learning an instrument. It’s hard. Right. And so you do it over and over. And just like if you were to become a pilot, if you’re going to become a pilot, you would spend time in a flight simulator, right? You learn how to fly in the simulator and you try not to crash into the mountain and you learn how to use your your instruments. And eventually you’re going to earn that rights, the rights of passage to get behind the cockpit and actually fly for real.

Right. So with trading, you could do the same thing. You can learn how to trade safely without risking your money. And you can learn a pattern and get really good at it. And then you learn how to recognize it and see it. And then you start to acquire the belief in it. Because when you see the outcome keeps happening and you go, oh, now I see what this when this happens and this is probably going to happen, I can make that trade. I can get in, get out, get done, take my money, turn the computer off and then go live my life today and then show up tomorrow and do the same thing.

So travel around Italy. Yeah, exactly. Or wherever you mean or your couch or wherever you want. Right. Right. And it’s up to you. But that’s the thing. It doesn’t take that much to it. Once you start trading, when you earn the rights of passage to get out of the simulator and trade for real, you’re going to know what you’re doing. You’re going to already know. And then it’s like riding a bike. Like when you get on a bike, do you think about it or just ride? Right. Right. Right. Or like when you’re when you’re learning, when you’re learning a language and you’re having to learn all the grammatical rules, it can be very hard at first, but eventually they do become unconscious.

And and then you just don’t have to think about it. And then you can spend all your time learning vocab, basically, just then putting it into the structure, the syntactical structure to learn. Learning a language is way harder. But listen, we’re both speaking English and we learned it way back when we were young, we don’t even remember. And now we don’t even think it’s just part of us. Right. Right. And trading is exponentially easier. Wow. It’s just a few techniques you learn. In fact, if you show the the short little trade I did in Florence and you see how I just slid my mouse in a couple of places and you you might not know what’s the pattern in this and that.

But you could learn that really easily. But you see how easy it is to place a trade. And then you guess you just practice it. It’s repetition. It’s not it’s not as hard as people imagine. Right. Right. And it’s made all the easier both both psychologically easier as well as actually implementing it easier with with the mentors done it gazillions of times leading the key. Yeah. Yeah. Yeah. It’s not it’s not how it’s who it’s you don’t try to figure it out yourself. You find some somebody who’s done it for you. So so what advice do you have for those who are ready to ditch the nine to five and take control of their financial future through day trading? Well, first of all, click the link and join my free training because you are too.

They can they can scan that we’re. Yeah, for sure. And then and then also go easy on yourself. Like even if you’ve tried trading and you didn’t do very well, realize that we all kind of started rough. Most people don’t have a mentor when they start, but make the decision to have one. I mean, I’ve mentored a lot of people, but you don’t have to choose me. You can choose whoever. But my program is pretty easy to learn. And then you just practice it and you don’t have to risk your money. That’s the thing until you’re ready.

So my biggest advice is focus on just baby steps. You don’t have to drink everything from a fire hose and just get all that information. There’s so much of it. You just be a deer in the headlights. You’re frozen, not knowing what to do. You don’t need to venture down that pathway. You can take very little steps and just one thing. What’s the next thing I have to do? Oh, open an account. OK, let’s just focus on that. What’s the next thing you have to do? Oh, let’s put some indicators on your chart. Well, I don’t know how.

Well, OK, call us and we’ll do it for you. But eventually you’re going to know what to see. You’re going to know what to look at. And then you’re going to start recognizing it enough. And then you’re going to learn what to take to place the trade. How do you do it? Well, let’s practice it for a while in the sim. Let’s get in the flight simulator and practice flying that airplane. It’s just push this button here. You’re not going to blow up the world. You’re not going to hurt anything. You’re not going to lose anything.

It’s all in the simulation is, you know, and you learn it and and and baby steps take you a great distance in a short amount of time. You just look back and go, oh, wow, look at how much I know already. It’s only been a few weeks and I could already do this. So that’s the advice I would do. Don’t don’t don’t do it under pressure. Do it because you’re interested in maybe learning something new and acquiring a skill that could serve you well for the rest of your life. But don’t do it because you have to pay your mortgage next month.

That’s not a good idea. Right. This is this is long term planning, as it were. And I do love the baby steps idea. Again, you and I are both musicians. And then that’s one of the things musicians do is we break things down to their simplest form, master that and then add to it as we we go along. We build on what we’ve mastered in the simplest form and then and move out from there. You don’t try to take on a whole piece all at once. You start with the simple and then you move out.

And that’s what I do. I do notice the pedagogue in you when I saw you give that lecture. I didn’t notice the the music teacher in you. It’s it seems that you take the very same principles of learning a highly technical skill in in music and you you apply it to stock trading. I think that’s the total. Yeah, I love it. And there’s music patterns. So and there’s price patterns and price patterns reflect the you know, the overall market psychology. And then they repeat over and over and over because you just got buyers and sellers or greed and fear, red bars, green bars is how I look at it.

And and it’s always the same patterns keep repeating over and over and over because human nature doesn’t really change. And so you can learn that. But when it comes to music, there’s like I use some music techniques and teaching how to trade the magic of twenty five, where for me to learn a drum rhythm, I have to be able to play it twenty five times in a row without a mistake in tempo. And once I can. Yeah, now it’s that is like riding a bike. You can never take it from me. I don’t have to think about it.

I could just do it. And so I teach people how to trade. And there’s actually a test that you have to pass before you could trade real money. I’m going to protect my clients from themselves better than they protect their own money. I’m the protected better than them, because I’m not going to let them trade until they can make their trade plan trades that they’ve proven to themselves will make money. And now can they execute it 25 times in a row without a mistake? That’s the flight simulator, right? I love it.

So that’s why I just can’t stress enough. If anybody wants to learn a skill that’s going to serve them for the rest of their lives and hopefully they could one day call their own shots and live that backpack, trade a lifestyle of freedom, scan the QR code. Join me on my free training. That’s it. Check out Troy’s free live training game. What do you got to lose? It’s amazing stuff. I’ve seen it. It’s incredible. Just scan the QR code. Click the link below in the description below. Start your journey to financial freedom today.

What I love about Troy and what he does and what he brings so much hope to me and so much hope to so many Turley Talkers is it just it doesn’t matter what Biden or Kamala are doing. It doesn’t matter how they’re screwing things up left or right. Because Troy looks at price patterns, he can exploit whatever they’re doing for his his own gain. And that’s what I love about. And that’s that way. By learning those techniques, you can leave the nine to five grind and thrive in today’s uncertain economy. So just scan that QR code.

Click on the link below and join Troy’s free training. Again, you have nothing to lose. And I think you’re going to find it wonderful. So thanks so much, Troy. Awesome to see you as always. Enjoy the last bit of Italy. I miss it. It was wonderful, but enjoy it. And I’ll see you stateside soon. Yes. Very good, Dr. Steve. Thank you. See you soon. [tr:trw].

See more of Dr. Steve Turley on their Public Channel and the MPN Dr. Steve Turley channel.