We’ve interviewed some members of the community who do not talk much in the chat room (totally fine, variety is a good thing!), but in this episode, Chezz and I get to hang out with a well known member, “Mr. Bee”. Unlike many other traders (myself included), Mr. Bee never struggled with the concept of admitting he was wrong and cutting a loser fast, but he found himself challenged with the other areas of trading all of which he shares with us. Along with this, he shares a very nice Jedi Mind Trick he uses to motivate his psychology to keep working hard. Mr. Bee was very open and honest creating an action packed interview with many gem learning points.
Notes
Mr. Bee had an interest in the market at a very young age but had a 15 year gap between that interest and his first investment in his education.
With his current account value, Bee was forced to trade lower priced stocks until the options trading courses came out. This really helped show who in the community was disciplined in taking small losses and those who ‘held the bag.’ The good thing is that he has never had an issue with cutting losses fast.
A great outlook on his trading concerns the idea that a trade is merely money gained or money lost which makes it easier for him to book losses quickly. Mr. Bee also believes in treating himself with his hard work from trading. The use of money earned trading helps solidify in his mind that his hard work is paying off.
He is currently trading part time with his job but has aspirations to go full time in the next year. The beauty of the financial markets is that if you are proficient at trading them, you have the freedom to spend your time as you choose and Mr Bee. would much rather spend time with his family than at his 9-5 job.
Quotes:
“Trading is the same feeling as golf because it is something I don’t think anyone can master. But you can keep trying.” tweet this quote
“All of us take losses and losses are a huge part of it. This is definitely not a game.” tweet this quote
“I know that I’ve put the work in and see what is going to happen. My biggest struggle to this day is being patient.” tweet this quote
“It’s always nice to fantasize about how big a win could have been. That’s where I kick myself more than a losing trade.” tweet this quote
“I don’t personally like to keep the money in there like it’s a trade vault. I have to be able to reward myself with it.” tweet this quote
