We’ve talked to traders of all age ranges, but in this episode we hear from someone a bit younger in years. Chris (known as “cubs” in the chat room) tells us all the things he has already experienced in trading, along with what he has learned in what many would consider a relatively short amount of time. This includes turning $3,000 into $25,000 and then losing it all… ouch! That stings to just type that, but what has Cubs done since then to bounce back? The answer to that and much more, including what Cubs is currently doing to profit in the markets, in today’s interview.
Notes:
Cubs got interested in the market during an economics class stock market picking game. While caddying as a summer job he saved up some money and bought 3 stocks to which he is still holding today.
Once he got through school with a finance degree he joined a finance firm and has continued to buy good dividend stocks for his long term portfolio.
During the pot stock boom, Cubs decided to gamble with some penny stocks and got very excited from the large returns. He took 3-4k to 25k before losing it all.
He tried day trading while at his full time job but decided it wasn’t worth the risk of possibly losing his job. Cubs decided to take a swing trading approach after this attempt.
Now Cubs is utilizing options to swing trade with an edge. He can take a neutral position and profit from the passing of time.
Quotes:
“I wasn’t using what I learned in college… it was more the gambler in me when trading penny stocks.” tweet this quote
“I maybe lost a few hundred dollars day trading but it was just too much stress while working full time.” tweet this quote
“I like being the casino and selling people sucker bets that have low probability of success.” tweet this quote
