Magnetic Trading: What did you do for a living before you started trading, or what do you do for work?
Peter Gibbs: Well, I used to work for a large bank, which I’ve recently been retired from, so now I’m trading.
Magnetic Trading: You said you’ve been trading for about nine months. Talk to me about what you like, and your progression from where you started to where you are today.
Peter Gibbs: Sure. It started off learning the trades, the basic trades that the guys have got, the big fish and whatnot. I really enjoyed the learning, I thought it was fantastic, and the way the set it up, the videos, makes it really easy. I just spent time documenting all that good stuff, so I knew that stuff inside out. I started trading pretty small stakes, and just had a bit of success. Then went to up the anti, and that’s when things get ab bit tougher. My progression is trying to refine the trading plan, and manage the psychology that goes with that. That’s probably the toughest part. These guys, I think they’re probably the top educators for trading, probably on the planet. It’s just an amazing thing, but you just got take to get in the groove. I know it takes time, and everyone wants to do it yesterday. But, this is probably gonna be another year before I’m in a rhythm. I’ve just got to get through all those issues that we have when we trade.
Magnetic Trading: Describe to me your best day. Give me an example of your best day.
Peter Gibbs: Sure.
Speaker 2: I think probably the best day was, no doubt, probably a triple witching option expire trade. Where just I got in at probably the 25th move, and it kept moving, I got in again, a second entry. Then it’s just come back to target. It all probably happened within an hour, and I’m making probably 6%. Probably broke the rules in terms of risk, but at the end of the day, pretty pumped when you get a result like that.
Magnetic Trading: How much, if you don’t mind me asking, how much was that? How much profit did you make in that one hour?
Peter Gibbs: It was 6000, $6000 in an hour. Pretty good.
Magnetic Trading: No, absolutely. Talk to me about why you came to Bangkok. Just, what made you take the time, and spend the money to fly here?
Peter Gibbs: I think this is a journey that I’m on to be a pro trader. I think it’s essential that you come to these events to not only hear from Mark and Cameron, because doing that in person helps. But, you also get to network with a lot of other traders. Most people, I think, in this room, all have experience in the same stuff. You get bounce ideas, and you learn. That’s what it’s all about. When I’m sitting at home, I’m not gonna grow. I think you come here, and it’s a great learning experience, but it’s also a good social experience, and networking experience. Because, most the time when I’m trading, I’m at home online. This is great opportunity.
Magnetic Trading: Let me ask you, what are yo most excited about for the future?
Peter Gibbs: I’m not as young as I used to be, and so I’m looking forward to a retirement at some point, and I’m refusing to use that word right now. But, this is something that I can, this skillset I can take with me anywhere. All I need is a laptop, and I can generate an income for the rest of my life. That’s pretty cool. You don’t get many scenarios where that can play out. Quite possibly to clock, my vision isn’t two, one, three years time. But, be the absolute lifestyle trader, and the world will be a good place.
Magnetic Trading: Talk to me about how much time you spend everyday trading, and what do you do with the rest of your spare time?
Peter Gibbs: Sure. Well, I don’t have a job at the moment, so I’m just trading. But, I would get into the room at probably 20 minutes before the open for the ASX, setup my charts, have a look at the market, do my analysis. Then read Ken’s report on what he thinks the market’s doing, so we’re in sync. Sometimes that happens. Then look for a trade. But, I’m also recently refined my trading to be really selective on trades. I don’t trade very often, but I’m looking for the good stuff. I spend, maybe most days, looking at ASX when it’s open, maybe 20 minutes, half an hour. It’s not doing a lot at the moment.
Magnetic Trading: If somebody came up to you, and ask you about what you do now, like you did your friend, what would you say to them?
Peter Gibbs: I’d say, if you want to have a lifestyle, and generate income, and do something that’s really interesting, if you want to get into that, I would not consider anyone else to come and see, and train you how to do it. I think these guys are the bee’s knees. I think they’re probably the best on the planet. If you’re serious about wanting to do this, come and join the group, become a pro trader. I think there’s no other option for me, and you couldn’t pay me to do any other service, or any other …
Magnetic Trading: Beautiful, excellent. Great job.
Peter Gibbs: Thanks.
Magnetic Trading: Appreciate it.