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Wednesday, February 28, 2024

254 · Kidney Disease, Poverty, and Jail Time to Going All In On the Markets w/ Christian Carreon

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Growing up poor with kidney disease as an immigrant from Mexico, Christian Carreon’s trauma with health issues and family financial instability resulted in the drive and hunger for financial success and security through redemption in the markets. Despite suffering through physical and emotional pain from his condition, his spirit and determination remained strong. He dove deep into the markets and after trial and error, eventually honed down and refined his systematic approach to a “trading boxes” strategy, which he explains.

As an avid student of chart history, he gets comfortable with specific price setups which give him the confidence to go “all in”. Lacking basic day to day health impresses upon him the importance of being grateful in everything he does.

In addition to trading using the mentioned “box” strategy, Christian is also the founder of Create Wealth Management where he applies a modified version of that strategy. He also started a private group called Paradigm Shift Trading.

Chart referenced in interview:

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Here is a chart of the E-mini to help illustrate what Christian was describing during the interview. 3900/3920 was the zone of interest that helped him identify when price wanted to go up or when it wanted to go longer. His idea for longs were when the price of the E-mini got back above 3900. The market was in an uptrend, and he wanted to participate in it. One can see how most of the markets gains across different sectors were when ES/SPX held above 3900. It shows Christian’s positioning and how aggressive he is based on what zones the “market” aka ES is holding. He wants to move to cash or become defensive below 3900 as nothing good happens and opens prices for new lows. His risk on/off process depends on this and as the market creates new zones of reference so does his positioning.

The next picture shows some of the boxes that his strategy was looking to trade.

Disclaimer

Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.

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Topics & Timestamps:

Please note: Exact times will vary depending on current ads.

  • 0:00 Background
  • 5:00 Recovery process after a Kidney transplant
  • 7:45 Attitudes towards financial literacy in Mexico
  • 9:45 Parents’ sacrifices and the Great Financial Crises
  • 13:38 Motivations after getting out of jail
  • 15:35 Getting into trading
  • 18:18 How did he turn losses into profits
  • 20:20 Sharing trading experiences with the family
  • 22:00 Types of strategies used before becoming profitable
  • 23:50 Current strategy involving boxes
  • 29:15 Examples of periods of consolidation
  • 30:35 How to determine levels of support and resistance
  • 35:22 The longer the consolidation, the bigger the price movement
  • 39:26 Fear around position sizing
  • 44:38 Repetition of price action creates the comfort to go “all in”
  • 47:17 Incredible returns
  • 50:30 What does a Bear market bottom look like?
  • 53:25 Why financial advisors don’t trade the trends
  • 56:10 What he struggles with the most
  • 60:00 Waiting for a kidney donor
  • 63:40 Sharing inspirational quotes

Christian Carreon

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