This interview causes me to revert back to being a little boy again as I thought it was pretty cool to get to talk with a “real life helicopter pilot”. Hopefully it isn’t too apparent in the interview! Anyways, talking with trading community member Micah was a great time and one filled with numerous ups and downs (pun intended!) that create some valuable learning opportunities for new and old traders alike.
Notes:
Micah had some friends who were making money day trading. Considering they had taken no formal education, he is under the assumption they were just getting lucky. Micah did not experience the same luck.
After seeing Clay’s YouTube chart analysis, Micah decided to invest in his education and stop live trading immediately. He did need to take a huge loss in a petroleum penny stock before he saw the light though.
Micah focuses primarily on a basket of 20 stocks that have good movement and volume so that he can generally find something that is tradable. He is utilizing options to trade directionally instead of stock (which is generally much cheaper from a cash flow standpoint).
A large focus going forward is reducing the size of his losses since they are doing a good amount of damage to his profits. Considering his busy season is coming up, Clay and Chezz deduce that possibly using advanced option strategies may help him reduce his downside by setting his max loss in advance.
Quotes:
“I was doing the headline trading and reading up on everything but couldn’t understand it and lost quite a bit of money.” tweet this quote
“I needed to completely stop trading. This money would be better spent on some sort of education.” tweet this quote
“Now I just cut my losses and look at it again. Maybe this charts just not doing what it’s suppose to do.” tweet this quote
“As I take the classes and it opens new doors who knows, maybe I will be trading forex or futures. I’m happy with options.” tweet this quote
