I’ll be honest. I was a bit nervous to do this interview. I was big into playing sports in high school, and our guest from the chat room, Dan, is currently a college coach. As you will hear, Dan is an awesome guy who has a great perspective on life and who has been through quite a bit in his trading journey. I personally think he’s being too hard on himself in regards to the awesome progress he has made, but I guess that’s what you’d expect from a college coach who expects the absolute best from his players.
Notes:
Dan started to get involved in trading and investing while his son was in a finance class. He funded his account but unfortunately his son ultimately lost all the money in there.
After not finding too much success in blue chip stocks, Dan started to focus on small cap stocks with lower share prices to control more.
While Dan is still trying to determine if he is a better day trader or swing trader, he is starting to apply more focus to risk management techniques to improve his overall consistency and profitability.
Options provided Dan the opportunity to trade higher ‘quality’ stocks that provide daily volatility.
Dan is fully aware he is still on the journey to finding where he fits best in the market. That recognition alone puts him ahead of the curve by helping him realize that there is not just one way to make money in this market. We all have to find where the market meets our personality and risk tolerance.
Quotes:
“I thought I was going to be actively trading with stocks as an investment. Lesson, that doesn’t go together.” tweet this quote
“I had to lay down on the floor after that trade because I was so nauseous.” tweet this quote
“Without a plan you end up bouncing all around. I didn’t know if I was a day trader or swing trader.” tweet this quote
“Trading without a plan was the number one problem I experienced.” tweet this quote
“Paper. Trade. Learn what you are doing before you put your financial future at risk.” tweet this quote
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