We close out our journey with chat room member “CPO” in Part 2 of his interview. We left off with him deciding to meet Chezz and I in Baltimore as he wasn’t too happy with the chat room experience thus far. Where did things go from here? CPO has learned quite a bit since then. His knowledge is now unfolding before his eyes in terms of feeling confident in not only build trading strategies that fit his personal risk tolerance levels, but in executing them. Once again, many nuggets of wisdom based on experience are shared thanks to CPO’s openness.
Notes:
CPO recognized that if he wants to trade some of these volatile tech names he should focus on how they move. With deliberate focus you can definitely learn how certain names move and what their ‘personality’ is.
Considering CPO is unable to trade at work, he has started to look at the futures markets since they trade for about 23 hours of the day. He used to try to day trade regular equities and options during lunch on his phone from his car but he was tired of just forcing trades and seeing he would be stopped out later in the day.
Market preparation is always key and CPO takes a few hours out of his day to prepare by reviewing the main tickers that he trades. He also stresses the point that learning how to read charts takes time. This combined with your trade plan and the ability to recognize when your trade plan loses its appeal allows him to take the excitement out of his trading and put the odds in his favor.
Quotes:
“I’m not actually trading against the market. I’m trading against other people just like me. I’m my own adversary.” tweet this quote
“It’s really hard to day trade when you don’t have access to your trading platform while you are day trading.” tweet this quote
“All indicators are just to cue you that you’re on the right track with your trade plan. It helps me make decisions.” tweet this quote
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