I really enjoy today’s interview due to the honesty portrayed in regards to the first impressions that were given from our trading community. Tony from the chat room originally showed up, and to be polite, really was not too fond of our trading group. To his credit, he did not give up on us and over time eventually realized that our group was not actually as nasty as he had originally thought. The amount of lessons that can be learned through this experience are some that can truly benefit you as an overall trader. What matters? What doesn’t matter? What should you actually be focused on? We’ll discuss all these key components of trading.
Notes:
Tony had a friend who found some success trading stocks and told him to contact him if he was ever interested. Fourteen years later, he started to get interested in the market as he started to have more income to use.
Tony was under the impression that trading penny stocks was the key to real wealth. He joined a well known chat room, found a ticker, tried to do some fundamental research, and even went as far as buying the actual product. He was that drunk on the Kool-Aid!
While he managed to make a nice gain on one ticker, he eventually lost it all slowly trying to trade other tickers. This is when he realized he needed to look into furthering his education.
After going through a few courses Tony realized that there are many better choices instead of penny stocks. He started to paper trade options after his eyes were opened.
As time has passed, Tony now understands the importance of risk management and that has really turned his trading around in regards to minimizing those losses and hanging onto those winners.
Quotes:
“This stock is legit. Their CEO is legit. I maxed out my account and bought all the shares I could.” tweet this quote
“I was up 10k and I thought this was it. I imagined quitting my job the next day. Then it crashed back down.” tweet this quote
“I bought some technical analysis book but they didn’t make too much sense to me.” tweet this quote
“Every time I took a loss I thought to myself that this isn’t for me. It’s for someone with more patience and discipline.” tweet this quote
Links:
https://claytrader.com/videos/buy-sell-alerts/
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