Hey gang! Uncertainty has prevailed in the economy for years now under Biden, and the Federal Reserve hasn’t done much to quell the worries of Americans during their time either. Now, the Fed just released one of their twice-yearly reports last Friday. And generally speaking, these reports are just typically dry documents that include an analysis of job growth and inflation, interest rates, and stuff like that. But this one was interesting, this latest one. It had a special section in it entitled, Monetary Policy, Independence, Transparency, and Accountability. And this is where they affirmed the need for the Fed to operate independent of political pressure.

And many are seeing this as a nod not to just Biden’s imploding poll numbers, but also to Trump’s surge. And Trump, of course, has been a major critic of the Fed of late throughout this campaign. Now, whether they want to distance themselves or not from the presidential candidates, obviously the economy is still struggling. And with each month of high rates, the economy and stock market continue to lack stability, something that’s so desperately needed in order to get our country back on track to being the best economy in the world. Here to help us make sense of what’s going on here is trading expert and sponsor Troy Noonan, aka the backpack trader.

Troy teaches people like you and me how to make day trading a sustainable way to build the parallel economy, as well as leave the drudgery of the typical nine to five job. Just click on that link below to join one of his free live trainings. He’s going to absolutely love it. Troy, glad to see you again. Always good to see you coming on, trying to make sense of the insanity that’s surrounding us these days. Yeah, great to be here. That seems to be the ongoing theme, right? The insanity these days. Insanity may stay sane in these insane times.

I actually came across a field of study. I kid you not, they call our period of time post-normal times. We’re living in post-normal times. That’s what even academics are admitting. Yes, we’re trying to stay sane in these insane times. From what I’m reading, this mention in their biannual report here on the Fed distancing themselves from political pressures, from what I’m reading, that was rather unprecedented. I’m just curious what you make of that. What do you think the Fed is trying to get back to the way they were always supposed to be? I think that the Fed is supposed to be non-political and independent, which is part of their effectiveness.

If you think they’re effective, that’s another discussion. But I think that they need to be independent because politicians are going to act in their own best interest, maybe not necessarily in the best interest of the economy. I just think that’s an inherent human nature thing, not that it’s anyone’s fault. I just think that when there’s a problem that could potentially happen, you try to fix it in what I call fix it in the mix, old musician term. When you’re remixing your recording, you try to fix the mistakes. But I think the bigger picture is you fix it in the system so that you create a system where it doesn’t become an issue.

I think the Fed is just trying to be non-political, which I think has always been their mandate. Right. Certainly a mandate and how faithful they’ve been to it is a whole other story, of course. Exactly. They claim inflation is cooling, but they still have yet to lower the rates. What’s your crystal ball telling you? Do you foresee a time when they’ll make that change? Eventually. But I think obviously they’ve got to fight inflation and they don’t want it to re-emerge or get worse again. And by lowering interest rates, there’s the risk of that.

So there’s like the balancing act of there has to be some pain in order to keep inflation down. We know what happens when the free spending happens. We’ve seen with bidonomics, that’s what brought us the inflation in the first place. No one really knows for sure, because it even goes back. It’s just a chain of events that leads up to stuff, COVID and all that. But the good news is, for example, my Turley Talk students protect themselves because they use the movement in the markets as a result of whatever the Fed does, whether they lower interest rates or not or raise interest rates or stay neutral or whatever.

That affects markets and that creates price patterns that give us things that we can prosper and profit from, right? So we can make trades and whether the market goes up or down doesn’t really matter. If you’re a trader, you’re looking for patterns where the next thing is highly predictable and you could trade on it. And that’s what the Turley Talker students have been learning. The ones that have joined my program over the last year and a half and I actually have some good news I want to share with you. We have one of our members, Mike Giles, came in through your audience.

He knew nothing, zero, nothing. And now he’s not only trading his trade plans, growing his account day in and day out, but this week he’s started hosting a live trade room for us. And he’s actually trading live in front of our other students. And he’s like, I mean, seriously from nothing. Wow. I mean, that’s how I started. Wow. That’s how I started 20 years ago was calling a live trade room, just like I was a student of someone else’s thing. And I came in, I started, it changed my life. And now I see 20 years later, he’s doing it now.

And through these turbulent times, right? He’s creating his parallel economy for himself, which is what the whole point is that we’re trying to encourage everybody. And we’re immune to these sorts of things. Like there’s a big trading concept that always teach people and that is there are things in the world that we cannot control. And even though we try, even if you want the market to go up because you’re in a trade where you make money, you pound the table thinking that’s going to change things, kick the dog, whatever. What I teach people is you surrender to what you cannot control and instead focus 100% on what you can control.

Because if you focus on what you can control, what you can’t control, doesn’t really matter anymore. If you follow the system properly, you’ve put the odds in your side and you come up with a trade plan, an idea, a way to trade that you can prove will make you money before you risk your money. You prove it first, you practice and get really good at it. And so then when you start trading live, you’re ready to trade live and you treat it like a business. And I know I’m kind of preempting maybe where this conversation is going, but That’s so awesome.

Please preempt away. That’s so fascinating. It is, it is. And we don’t care if the markets go up or down. I mean, yeah, we want them to go up long term, it’s better for everybody. But as a trader and you’re trying to make money each day, the markets are going to go down sometimes and we make money going down or up, doesn’t matter. But that that’s a key. Again, for me, I hammer this almost every time I chat with you because that was one of the biggest eye opener when I first started to learn what you do as a as a trader.

You’re not an investor. This is what you say. I’m not an investor. I’m a trader. The two are different. Can you can you flesh that out for us? Yes. So I mean, I do invest also, but I just start separately. Trade means you’re getting in, you’re getting out, you’re taking your money and now you’re flat. You’re not in the market anymore. And so you’re not exposed to the risks of the market either. And trading becomes a business transaction like anything else. Like imagine instead, if you’re the local dry cleaner and a customer comes in and pays you to clean some shirts, right? Okay, you just made money off that transaction.

They leave another person comes in and this person might be upset because you couldn’t get the wine red wine stain out of out of the garment. And so this customer is now upset. Well, that’s like a losing trade. So some trades win, some trades lose, but how many people complain versus how many people come in or happy that bring you new business. So we treat our trading like that too. So we know we can’t win 100% of the time. We don’t need to. We only need to win more than we lose. And we have a plan that we could prove will do that.

And it happens over and over. And it happens so often that we could predict what the next thing will be afterwards with a high level degree of accuracy. And so we can place a trade to take advantage of what that next thing will be after that price pattern that happens a large percentage of the time. And if we’re wrong, we’re wrong. Sometimes you throw the hook in the water and the fish gets away, but you keep throwing the hook in the water. If you want to eat, then you pull out the fish.

You hit the mother lode, ultimately. Yeah, that’s right. Find your glory hole, as it were. Yeah. Yeah. Have the changes in the economy of late impacted your trading strategies? No, because it actually makes it better. Because whenever there’s a change in the economy, things tend to rebalance. And rebalancing means price movement. And so the price movement is what causes the patterns, which gives us the tradable things that we can make money with. So changing in the economy, changes in the economy are typically good for traders. If everything just stays the same all the time, and there’s a balance between buyers and sellers, there’s not going to be any real price movement.

And you’re not going to get those nice patterns that cause those tradable patterns that the tradable events you can make money with. Interesting. You refer to yourself as the backpack trader. And that’s what you argue, which I love, is you argue that trading is a lifestyle. You’ve turned trading into a lifestyle where you don’t have to be bound to any particular location to make your money. You have internet access, wherever you get hyperlinked, as it were, anywhere in the world, you can do what you do. This is your full-time gig. You mentioned one of our Turley Talkers.

Is this achievable for someone without your trading experience? I mean, in fairness, you’ve been trading for, I don’t want to date you, Troy, but you’ve been trading for a couple of decades. Can any Turley Talker use day trading to leave their nine to five grind, as it were? Absolutely. I just told you about Mike Giles, who’s a Turley Talker. Now he’s not only trading his own plan that he’s proven and he’s learned how to do, but he’s calling a live trade room, showing the trades he’s taking and that he just started.

He’s doing amazing. And if any of the listeners want to learn how to do it for themselves, there’s definitely a free training I’m offering that they should, right now, click that link. I’d love to talk to them about that. But just to wrap up that question, next month, I’ll be trading from Italy. So, poor me, I got to go to Italy. I’ll be trading from there. I have a feeling you and I are going to be going there together. I didn’t want to steal your thunder, but I’m looking forward to that. That’s right.

If you guys don’t know, remember we’re going on a cruise. I know several of you guys are coming with us and Troy’s could be with us as well, as well as some other Turley Talk parallel economy creators will be there to enhance our wonderful time together. So yes, I know we’ll be there. I’m going to be in Barcelona right before then. And this is what excites me so much about what you do. And why I love sharing what you do with our audience is you really represent freedom when all said and done. You represent financial freedom is for personal freedom and you really embody it and live it out.

Yeah, it’s like how my story started because I didn’t know how powerful trading can be and what it could do for your life until it happened to me. And I made a trade and I made some money and I backpacked through Europe for several months, led me to my wife and kids, changed my life and also bit me with the bug of when you experience that level of freedom, you never want to give it back. You want to do whatever you can to maintain it and foster it and grow it and live that way.

So I’ve kind of my life took a new shape and form way back when that was before the internet. That was a long time ago. Now you’re dating yourself here. Yeah, mold. I’m hoping we get a good enough internet connection out on the cruise because hopefully we’ll play some trades out in the middle of the Mediterranean, which I’m excited to do. Yeah, we were already looking up that last night. Absolutely. I had a little pro when we did our last cruise in the Caribbean. I think they had Starlink, but it was just getting, they were just doing it and the link wasn’t very good.

So you just wait till you stop, go to a nice cafe or something. And normally they’ll have a good internet reception. But no, I think hopefully this one’s a little bit better in the Mediterranean. Yeah, I’m really looking forward to this. This is so exciting. I’m looking forward to so many of our other Turley Talkers getting to know what you do because I’m excited about that stuff. I want to show, I want to be able to like in person, show people, let them push some buttons too and see, it’s not that it’s easy to do.

The hard part, it’s not even hard, you just follow certain steps to create the right trade plan for you that makes sense for you. And then you go through other steps to prove it’s going to make you money and then practice it. And then we use what’s called earning the rights of passage to move from one step to the next. There’s a step down that pathway where you start trading live, but you don’t do it till you’re ready because you want to be in the strongest position you could be in for success before you start.

So all that preliminary, I call it pre-production work. It’s like laying the foundation before you build a house, right? Or any other business. That’s what my program is about. And it’ll be fun to show people and walk them through the process in person on the cruise. But I also want to mention that there’s another side of trading. It’s not day trading. We call it swing trading. And that’s really good for a lot of the Turley Talkers who are still working. I don’t want you to quit your job tomorrow and start trading. You have to evolve into that.

But with swing trading, that happens. Your money is working on longer, slower trades. So while you’re doing your thing, your trading is happening also in the background. So you don’t have to always be in front of your charts. I don’t want you. I want you to like a few minutes a day, that’s it. Trading. So with swing trading, you set that up in advance. You learn how to do it. You play some trades. They could last for weeks, but they deliver really good gains. And it’s a great way to trade also other than day trading.

Swing trading is different, but it’s really good for a lot of people who can’t trade now because they just have to work or they’re just not available. So trading is available to you even if you’re not available for day trading, you could still benefit from the same concepts, the same patterns that repeat with high degree of accuracy. What happens next? We use the concept, the immediate past predicts the immediate future. And that works also on a slower timeframe where you can spend a few minutes a week even monitoring and managing your trades and letting them work for you behind the scenes while you’re living your busy life.

Take advantage of it like that too. Yeah, best of both worlds. Absolutely astonishing. Yeah, gang. I mean, if you want to experience this kind of freedom, the freedom of the backpack trader lifestyle and secure your family in spite of the economy, no matter where the economy is going, no matter what the market is doing, you can be above it. You got to click on that link below. Troy’s free live training is where you need to go. Click on that link to hear just how attainable this is for courageous patriots. You heard it, testimonials here.

Not only can you build the parallel economy, but you can change the trajectory of your family’s finances for generations to come. You can do this, again. You can do this. That’s what’s so awesome. You can. And you can do it without being under pressure. That’s key too. You don’t want to be under pressure, so you can learn how to do it so it fits within your life without it, without losing sleep, without it being a source of pressure. It’s a source of pressure relief is what’s good about it. So that’s awesome. Yeah, awesome.

Awesome, gang. Click on that link below today. You’re going to love it. Thanks, Troy. Thanks for, again, helping to make some sanity out of this insanity that we’re all experiencing. It’s always my pleasure, Dr. Steve. Thank you. [tr:trw].

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