Out of all the members we’ve interviewed so far, I don’t think we’ve talked to anyone who has had as good of timing as Adam (“Yountske” in the chat room) in terms of market timing. This is where the interesting part comes in… even with the impeccable timing, as you will hear about, Adam still struggled to make trading work. His journey truly goes to show that there is much more to trading than simply getting a good entry point.
Notes:
Yountske’s introduction to the market was in an investing class when they paper traded some tickers. He placed near the top of his class.
After having some success bartering, he decided to open up a trading account and started trading penny stocks. He subscribed to some newsletters and picked one at random to trade.
Yountske saw the potential for the marijuana boom prior to the actual pump of the sector. He became a walking/talking pumper adding to his profitable position on the way up. A well known twitter trade essentially scared him out of his position (for a nice gain).
After achieving mixed results for multiple years, he joined the Inner Circle and eventually The Trading Freedom Pathway to help achieve more consistency in his trading. He also left penny stocks and moved to options to avoid the pattern day trading rules with a cash account.
Quotes:
“People were willing to take a loss and then I would turn it around into a gain for myself.” tweet this quote
“Averaging down was just basically stupidity. I held for 2 years and then sold for around break even before it really ran.” tweet this quote
“I basically become a walking/talking pumper. I was telling all my friends that they wouldn’t want to miss out.” tweet this quote
“MJNA started to trickle down past my entry point. I was still living under the Warren Buffett model of ‘never take a loss.’ “ tweet this quote
“It was just a constant up and down… make a bunch of money, lose a bunch of money.” tweet this quote
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