Be a Joe Buck | Podcast Episode #292

0:07
Hey, I’m Ryan Mallory and this is my swing trading the stock market podcast. I’m here to teach you how to trade in a complex ever-changing, world of Finance, learn what it means to trade, profitably and consistently managing risk, avoiding the pitfalls of trading. And most importantly, to let those winners run wild, you can succeed at the stock market, and I’m ready to show you how, hey, everybody, this is Ryan Mallory with swing trading this stock market and this is gonna be an interesting, Podcast episode.

0:36
Today, I’m not taking an email, we’ll keep doing that next week. But this is a topic that I’ve been brewing on. I’d say for a solid month in the title of this episode is called be a Joe Buck. Now, you guys may know exactly who I’m talking about. If you’re a sports fan right out of the gate.

0:52
Now the extended version of this podcast is be a Joe Buck, not a Chris Collins. Now what do I mean by that? Well, these are two different announcers in the NFL and they couldn’t be more different. And in terms of how they approach talking about the game, doing the color commentary the play-by-play.

1:11
In fact, Chris Collinsworth is considered a color commentary, while Joe Buck is a play-by-play analyst. Now you see Joe Buck he’s in the World Series doing announcing at times. He’s done the NFL but he’s not a fan of the game. I mean he likes talking about it, he likes doing the announcing but he sees it as a job.

1:30
He sees it as something that he’s paid to do. He’s not a homer for anyone specific. All team. Sure, he enjoys the game but he doesn’t care who wins or who loses. He really doesn’t. He doesn’t pull for teens. He is about as unbiased of an announcer for sporting events as it gets.

1:48
But you want to know what he is. He’s really good at his job. I mean if there’s one person that I could choose to do the play-by-play for a NFL game, from my Miami Dolphins, it would be Joe Buck. But now on the other hand, you got Chris Collinsworth and I gotta tell you, he’s probably one of The most annoying announcers of all time.

2:08
This is the guy that’s always saying about every single player of the game boy. Al I gotta tell you, this guy’s really special, he’s just really going to be a Hall of Famer one day. I mean, there’s just nobody that can do it like he does and then the next game or even the next play. Somebody does the exact same things like boy.

2:25
How can’t tell you how special this guy is everybody special. Everybody’s the Next Great Hall of Famer, I mean, you know, what would give Cris Collinsworth uh, Great name. If he sees a places boy, I gotta tell you this point. It really sucks. I mean, he just really blows.

2:42
I see a lot of players in my time. This guy might ranked the lowest on the totem pole, I mean, he should just quit now, he should retire but know you’ll never see that. He’ll just tell you how great every single player is. And I got to tell you. If I was in the NFL, I’d probably won’t Cris Collinsworth talking about me too.

2:58
But if you’re a fan of the game, if you’re watching it, he kind of gets annoying because you can’t really take anything he says serious because Cuz he thinks everybody’s great. He’s kind of like the Jim Cramer of stocks, right? I mean if you call somebody special at the guys, probably gonna blow out an ACL the next week or have to quit from the game because you just got cut the next week by the football team that he plays for.

3:20
So we got Joe Buck and we got Chris Collinsworth. But what am I drinking for this podcast, I am actually drinking an old fashioned with Evan Williams bottled and bond. Now, I’ve done this one before. I give it a 9.5 at such a solid drink that You know what, I wasn’t in the mood to try a new one tonight.

3:37
I just wanted to drink my good old fashioned. So to remind those who don’t know how I make my old fashioned, it’s really good. First off, you gotta put 6 dashes of that. Anger, istic, betters. I never know how you actually say that, but it’s like the little yellow jar at Total Wine.

3:54
You can’t miss it. It’s everywhere. You can find it at your grocery store, usually to. So, I do six dashes of that. Then I do two dashes of orange bitters, but then I measure out three, eighth of an ounce. Out of simple syrup and I put it in there then I poured two ounces of the Evan Williams bottled in bond.

4:12
Then I Stir It Up, Throw the Ice Cube in there and you got to make sure it’s a good-sized square Ice Cube. Yeah, you can use the rounded ice cubes too but I typically go for the Square ice. Then I get a good chair. You can pick out a lot of different areas. It really goes based off of your personal taste.

4:27
I use those amarena cherries again. I don’t even know if I’m saying that one. Right, I’ve not been known for pronunciation words correctly, especially difficult words. Don’t hate on me for a mispronunciation, some of these words. But anyways, these amarena cherries, you can find them on Amazon, the really good, and then I just get a peeler.

4:43
And then, I just peel off some of the skin of the orange. And I rub it around the rim and then I express it by just simply, like, squeezing it all above the old-fashioned, so, it is really good. That’s what I’m drinking. Unbelievable now, back to Joe Buck and Cris Collinsworth now, funny story, Cris Collinsworth is actually from where I live. He’s from the space coast of Florida. So that’s kind of a cool thing but still annoying is can be and continuing on the topic of Cris Collinsworth.

5:03
I think a lot of people find themselves in the Cris Collinsworth Camp. You may not talk glowingly in an open Forum about the stocks like Cris Collinsworth. Does the football players and like Cris Collinsworth, he falls in love with the players. Just like you fall in love with the stocks. Is that a healthy thing to do? No, because it’s going to let you down football players. Let me down all the time. Jeez, you should try being a Miami Dolphins fan for the past, 40 plus years, it’ll Down every time and it’s the same way with stocks if you become too much of a fanboy of the stocks, if you fall in love with them, they’ll let you down.

5:42
I’ll let you down at earnings. They’ll let you down at the most inopportune times and cost you a lot of money, but now Joe Buck, he doesn’t care who becomes the greatest quarterback of all time. He doesn’t care who becomes the greatest running back or the linebacker. The safety. He doesn’t care what team wins. He doesn’t fall in love with the players.

5:57
He doesn’t fall in love with the team’s. He doesn’t root for anybody. And as Traders, we got to have a similar approach. It’s not about Apple. Going up. It’s not about Amazon going up. It’s about managing risk. It’s about managing our trades and calling it as we see it, even heard of that expression.

6:13
I I know I’ve been around people in the past. It’s like I just call it as I see it. I just say, what? I think, you know, and but that call it, as I see it thing, I’ve always found that expression kind of annoying because I don’t know, it’s just annoying but in stocks we got to have more of that attitudes like look, this stock is not doing well.

6:29
I’m not going to continue to hold it. Look this stock to set my stop loss. I’m getting out of this trade. This stock is not worth. Into I’m not going to buy it even if you like the stock. And there’s a lot of stocks that I like from a personal standpoint, I love Square, I love Tesla, I love Spotify, I love Shopify.

6:46
I think they’re all great companies. Does that mean that I need to swing trade them? Because I like them or if I get into one of them that I can’t sell it because it’s kind of invalidates my feelings for the stock. No instead if I happen to get into one of those stocks, I have to treat it like it’s a company I could care less about and that’s what being a Joe Buck in our trading is like it’s Not caring about the actual stock.

7:07
But trading based off of what we see, he calls the game, as he sees it, we have to trade. As we see it, we get these hopes and we get these dreams. And we get these feelings of excitement, and we think that it has to play out in that stock just like Chris Collinsworth things that has to play out in the football player, but when we do that, we’re making ourselves emotionally tied to the stock.

7:24
And we can’t do that because emotions is what the market thrives on, what it uses against us, to cause us to lose money, to lose our Capital. The moment we become About our stock, that’s the moment where we’re going to start losing and losing in a big way.

7:39
But when you can back off of the traits, even if you’re in the trade, but you can take a step back and say, hey, this trade setup, this chart is not good, this trade setup this chart, that one’s pretty good. I’ll get into that one, but I’m not going to get into that other one. This one follows my strategy, this one doesn’t.

7:50
If you don’t care, if it’s the most boring stock, let’s say it’s Dollar Tree and the other one. It’s traitors desk TTD two, completely different stocks. Yeah, t TD is usually a more I’m trade, it’s the one that Cris Collinsworth, like, boy, Al that stock is really amazing. It’s gonna be something one day.

8:09
But Dollar Tree, it might go up 10%, but boy, that never seems like an exciting stock to get into, does it? Sometimes it only moves up like 1% or 2% in a given month, but if you get the right trade setup, it might move. 10% or Waste Management. WM, nobody likes trading, those things are boring, but they still make moves, they still can make you money.

8:29
Unlike a lot of the tech stocks out there especially this year where they can lose you. A lot of money, some of the more boring stocks Northrop Grumman, Eli Lilly. Look at those stocks, those stocks are doing amazing this year. They’re not necessarily the stocks, you fall in love with boy they’re doing pretty darn good.

8:46
But if you were taken an approach to trading like a Cris Collinsworth, you might be buying PayPal, you might be buying Hood h0d. You might be buying some of these stocks at the worst possible times. And I know I’m preaching at you guys, but I’ve done this in the past myself, I’ve believed in a market Direction.

9:02
And what did I find myself doing every time it dipped? I would see a move on a five-minute turns. I go, that’s it. That’s the Bottom. I got to buy into it right now and then I will lose more money because they see Market kept on dipping every time I’d buy the dip, the market kept on dipping and why was that because it was being a Chris Collinsworth boy.

9:14
I like I gotta tell you there’s no I’m talking about. I’m talking about Al Michaels because he used to be paired up with him in the booth for a long time but it would be like me saying boy, boy, how I can’t see this Market going, any lower. I gotta buy it here and then you buy it and it keeps going lower.

9:27
Boy. I gotta tell you, I got a bite here because the markets going back to all-time highs and then it keeps going lower 52. We close Another contrast is that Joe Buck doesn’t have expectations. Cris Collinsworth is doing nothing but exerting expectations on these players there. The next Hall of Famer there, the next pro bowler there. The next All-Pro, we do that with our stocks though.

9:48
This is a two-bagger right here. This is a ten bagger. Oh, this is the next apple. This is the next Amazon. How many of those have actually turned out to be the next apple or Amazon? Probably none of them. But we’re setting expectations that they’re going to be something great. Whereas, the best thing we can do is not have any expectations at all. Just focus on the risk, focus on managing it It.

10:04
If the prophets come, that’s great. Let me tell you, when I go into my trades, I expect every trade I make to lose. I’m kind of a sourpuss when it comes to my trading, half of the trades I take I don’t even want to take them, but I know that I should take them and usually, the most profitable trades are the ones I don’t want to take sometimes I’m in a bad mood about some of the trades that I take is.

10:20
I don’t want to take them, but there was a time where I traded like a Cris Collinsworth. There wasn’t a market dip that I didn’t like that when I was wrong on the first initial by, I felt like I needed that revenge of that. I needed to get back in there and show that I was right. And when we start trading, In a way that makes us think that we have to be right about it.

10:37
Mark is going to kill us for that. My other thing that I always loved, I’m on this Facebook group and oh my gosh, I don’t even know how I got on it, but I’m in it in the things that people say like the stock market’s going up tomorrow because I’m speaking it into existence and the Egos and the beliefs that Pete.

10:54
These people are the greatest because they’ve been trading for two months. I think the markets going up. I think the markets going down. What do you think? I don’t know, day-to-day. I never know what the markets going to do. I have Inkling. Things I have beliefs perhaps, but do I act on those? No, I just followed the charts. What are the charts?

11:09
Telling me because the fomc statement came out this past week and I get to, I thought they would probably try to juice the markets. Did I trade with that belief? No, in fact, I got out of my long positions before it because that’s what the church were telling me to do. And it was the right move because the markets tank, the rest of the day and it was a massive sell-off.

11:26
Like, 100 point sell-off on the S&P 500, that I was able to save about 4% in gains as a result on my position. But that just shows you what the market does it? That do exactly what you think or if you think you can speak it into existence, let me tell you another thing. Quit blaming market makers, man, I don’t know what the heck, those are anymore.

11:42
I mean, everything’s electronically traded but we still want to blame the whales in the market makers and the big money. Why not? Just blame it on being a bad Trader at times, there’s times where I’m a bad Trader. There’s times where I make bad traits, and I don’t blame anybody except myself and you. That’s what you got to do, is a traitor.

11:59
Quit thinking that somebody really cares about your 15 shares and Amazon that they’re going to try and stop. He out of it. They’re not, they don’t care about that stuff, just focus on your trading. You’re going to have losing trades and just because you have a losing trade, doesn’t mean that you’re now a certifiable horrible Trader. Now, you’re only a certifiable horrible Trader.

12:15
If you don’t manage the risk because as a good Trader, you’re going to have bad traits. It’s just a matter of fact and I’m getting a little bit sidetracked on this, but I’ve just seen a lot of it this week. Especially with the fomc. It’s where it always comes out. Like oh, they’re just going to try to run this stops here and they always talk about they, but like who the freak is they like?

12:32
Who is, is it this like Council the Special counsel of days that get together and say, hey we’re going to run the market up and then we’re going to run it back down and we’re going to screw everybody over. We’re going to take all their shares. We’re going to steal their shares. We’re going to gobble them up. No, you just made a bad trade.

12:48
You had a losing trade and sometimes I don’t even know if I would call it a bad trade, as long as you’re managing the risk and you’re following your trading plan. It’s not a bad trade, it’s just a losing trade, but you know, what will help? swingtradingthestockmarket.com Yes, I’m plugging my service in here for the podcast. It’s where you get all my stock.

13:04
At research each and every day I send out multiple videos each day. I send out my watch list of stocks that I’m watching each day as well as updates on the market overall and all the big tech stocks. It’s really cool and it you actually support the podcast when you join. So check that out. The crap ton of good information.

13:20
All right, so let’s wrap this one up. Let’s summarize kind of what we’ve talked about here. First, we compared and contrasted Joe Buck and Cris Collinsworth to completely different answers, couldn’t get any more different. But as Traders, we want to be more like the Joe Buck. That doesn’t really Hear about the outcome of a stock, but the market does, if it goes higher or lower, we need to Simply trade what the market is.

13:41
Telling us what the charts are telling us follow the play-by-play of the market, and don’t be a Chris Collinsworth that just thinks every trade that we get into a special, that it’s the next great trade that is the next Amazon of the next apple that somehow you’re getting in at the ground floor of something that’s going to be life-changing.

13:56
We got to make sure that we’re not necessarily believing in stocks but believe in the strategy that were employing of managing the risk and Mising the prophets. That means not following them. Love with your stocks and not being determined to find the market bottoms of Market tops and to get your revenge on the market when you get stopped out of the tray by immediately getting back into the trade.

14:15
Yes, there will be times and I’ve done it this year. Even, we’re all get back into a trade after, I’ve been stopped out. But the only reason why I do it is because there is a new trade setup there for me, to take advantage of. And I’ve done pretty good at that this year. Perfect. No. But I’m not going to get back into it unless there’s a valid trade setup there for me to get back into.

14:37
And if you enjoyed this podcast, well, I hope you appreciated my Chanting today because this was something more probably more therapeutic for me than anything else. I needed to get it off of my chest. Hey did I tell you guys what I thought about some of the Traders approaches to the mark and I feel like there’s a lot of people listening to the show today that probably share in that approach where they’re being more of a Cris Collinsworth than a Joe Buck and their trading.

14:56
And I wanted to really just Hammer home that belief that we’ve got to get away from being a fanboy of stocks. So if you liked everything, you heard make sure to leave me a five star review on the platform and I really do appreciate those and keep sending me your Emails ryan@shareplanner.com and make sure to sign up for swingtradingthestockmarket.com. Thank you guys. And God bless.

15:13
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15:29
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15:45
Please feel free to email me at ryan@shareplanner.com all the best to you and I look forward to trading with you soon.