Take 5 with Karl Haas

Karl, driven by his love of trading and teaching others to trade, joined the GlobalTec team more than 6 years ago. Through his chart evaluation and training programs, Karl has helped tens of thousands of Wizetrade and WizeFinder customers trade with confidence. Previously, Karl was a broker for three years who held Series 7 and 63 licenses.

1) Why is having a trading plan crucial for any trader?
Without a trading plan, you don’t know where you are going or, better yet, what to do once you get there. I have taught thousands of our customers over my 6 ½ years with the company, and what I have seen are the ones who make a trading plan are the ones who are successful. I have never had anyone come up to me and say, “I don’t listen to a word you say and I am making money every day.” I have had people say to me, “I did what you said and created a plan for my personal trade style, and I just want to say thank you. I am making money and it has changed my life.”

2) What do you find to be most rewarding in your role as an analyst on Wizetrade TV™?
I have “Karl’s Woodshed,” a place where I take people when they don’t follow the rules and listen… But what is rewarding to me is when customers call in and take themselves to Karl’s Woodshed. They know they did wrong, and they call in and tell on themselves. How crazy is that? So it tells me that I do make a difference and people are listening. It makes you laugh and it is very rewarding.

3) What is the most common challenge you see coming in from traders who call in or email WTV?
To make the customer understand that it works….the software really works. But the only way you will be successful with it is with a solid trading plan, one that fits your trading style, your account size, your risk. Because everyone is different, what works for one person isn’t going to work for the next. Plan your trade and trade your plan.

4) What strategies do you use the most when trading your personal account?
I stick to 3 scans, Swing Trade Setup (Long or Short), Fill the Gap and Fade the Gap. These are Active to Swing strategies that work great for my style of trading.

5) One thing we did not know about Karl Haas is…
I am becoming very handy around the house. It is an older house and needs some work. I have done a lot of things that I was scared to try, like tearing down a wall. It was a challenge, but once you get your hands dirty and just do it, it’s all downhill from there.