As someone who enjoys the topic of economics, it was a boatload of fun to interview “Arch_Steve” about his trading journey. Steve has a PhD in economics and is a college professor… in other words, a real life economist! With this being the case, “how” exactly does having a vast knowledge of economic markets translate into trading markets? Out of all the interviews so far, this interview truly gives a unique perspective on trading as a whole and what should be focused on.
Notes:
Steve has had an interest in markets economics from a very early age in high school. He decided to pursued a PhD in economics because of this interest later in life.
He initially was a buy and hold investor to begin with and didn’t do too bad. It wasn’t until he had a large unrealized gain go back to zero that he recognized he needed to get educated to be better equipped to trade the markets.
Steve now applies his technical knowledge to his swing trading and now has the independence needed to find stocks that he wants to trade instead of whatever the street thinks is a “hot pick.”
Quotes:
“If you’re an economist it doesn’t mean that you can manage money. I always had this pressure to learn the market.”
“If there is no monetary gain on a gamble then your incentives will be tons different than when there is money on the line.”
“The stock market will be there the next day and if you have the right tools you can play in any kind of market that’s out there.”
