Expectations play a vital role to us as traders and investors. In all actuality, expectations are a normal part of everyday life; however, when it comes to the markets, they can lead to literal loss of money. Chat room member, Corey, explains to us how his entry into the markets was plagued by expectations that were not even close to reality. This causes him to go down many paths that lead to… well… unfavorable outcomes. All in all this was a great interview and one I’m happy to share with you all!
Notes:
While Corey had slight experiencing following stocks when he was younger, he did not get actively involved until he finished up school and started working. In 2009 he now had a 401k and some spare capital and recognized that the big market downturn was actually a buying opportunity and this led him to put some money in the market.
Initially starting out value investing/swing trading, Corey started to get interested in more active trading. This led him to the free penny stock newsletters. The mind boggling part is that he did not partake in the marijuana penny stock boom at all. It was all names in other sectors.
Corey does eventually close his positions and put some money into his education. His focus was on penny stocks but the important part is that he realized he needed to invest in himself.
At the end of 2015, Corey joined CTU and has been working his way through the 400+ hours of content offered. He is still paper trading and solidifying a strategy before he puts his hard earned money back to work. He also paper trades in a hybrid way in the sense of he is live with 1 contract but paper trades 2 additional ones. This keeps him accountable and leaves his risk low.
Quotes:
“Wow. AIG traded at 400 dollars 6 months ago. Now it’s 40 cents. This is an opportunity to buy.” tweet this quote
“I was at least expecting a double, a 100% gain. That’s what my expectation level was at the time.” tweet this quote
“I really struggled buying something that I was fairly confident was going to come crashing down. I struggled going long.” tweet this quote
“Sometimes I would time it right and do well. Other times I would time it wrong and not be disciplined.” tweet this quote
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