Today we talk with Justin, aka FreeFall909, and discuss a journey that I’m sure many people can relate to. After being inspired by a Hollywood movie about the stock market, Justin found himself in the Wild Wild West of penny stock trading and eventually turned himself into someone else’s puppet. It was not until he got honest with himself that his journey was put on the bullish pathway. While Justin is not a professional trader or anything like that, his story is one that hits the heart and soul of the goal of this podcast: giving insight into the life of a normal guy who is on a quest to conquer the markets.
Not only does honesty go a long way in normal life, but when it comes to trading, being honest is a critical piece to the puzzle as you will hear about in this episode.
Notes:
Justin was interested in the stock market at an early age and decided to get involved after the movie ‘Wolf of Wall Street’ came out.
While he was able to find some penny stocks that moved, he was very inconsistent and gave back his earnings most times.
He started to follow various people on Twitter and it was on one of those ‘plays’ that he took a significant loss and then decided to take some time off.
After seeing people on InvestorsHub talk about technical analysis and charting and decided this would be something worth educating himself on.
Justin is not rich and didn’t think he would ever be able to trade big board stocks but then learned about options and completely abandoned penny stocks to trade these larger name companies.
While he doesn’t trade huge size, Justin’s winners are drastically larger than his losers and that is an attribute that can scale up to larger trading size in time.
Quotes:
“I didn’t really take out of it that penny stocks were scams. I thought that they were going to make me rich.” tweet this quote
“I thought that any and all marijuana stocks were going to go to the moon. I wouldn’t even pull up a chart.” tweet this quote
“I was just pumping the money in until I was at a pretty significant loss.” tweet this quote
“I got the options course, realized I could actually play big board stocks and I knew it was going to work at that point.” tweet this quote
“I’m trying to manage my risk more than I am trying to get huge gains.” tweet this quote
“It’s nice to know now, even if I only make 15$, I actually knew what I was looking at and was rewarded.” tweet this quote
