When it comes to Mom’s, our guest Rena (“RenaB” in the chat room), is no slouch. Not only did she introduce her son to the stock market and trading, but she has instilled in him extremely valuable principles that will last a lifetime… and that’s just the surface of the interview! Rena has been in the market for several years now, and even with that, due to the massive variety of different strategies available, continues to try and narrow down the perfect fit for her own personal risk tolerance. There is some great conversations of psychology and emotions that take part in a “live coaching call”. This is one of you don’t’ want to miss!
Notes:
Rena’s introduction to the market was with mutual funds back in 2009. She immediately started to work on her market education because both her and her husband take these matters very seriously. While she had a solid grasp of the basics, there were some holes in her strategy. Rena is a big believer in continuing to always learn more.
Her risk management included a few different methods. The overall methodology mainly pertained to her emotions. She was willing to cut trades that didn’t feel right and take profits on ones that did.
One day, her son came home from high school and after learning about stock trading, he expressed interest in learning along with his mother. Unfortunately, since he did not have much capital, this led them to trading penny stocks. After getting stuck in a few pump and dumps, they abandoned that idea pretty quickly.
Rena used StockTwits to help find stocks that were moving for the day and that’s when she ran into Clay’s chart analysis videos. She liked the content and joined the community. Considering she’s a big believer in continuous education, she went through a few courses before joining Claytrader University.
After learning about options, she has broken her trading into thirds. She buys/sell stocks, buys options and also sells options. Rena just came off a 5 day profit streak and was very disappointed in her one red day that followed. Her disappointment is not uncommon and it leads people to think their system is ‘broken’ when in reality, not all trades will be profitable. If you follow your system and strategy which you know works, the probabilities of profit will work out over time.
Quotes:
“I wasn’t going in completely blind but I know a lot more now than I did then.”
“My son said he wanted to learn about stock trading so we started on that journey which did not go so well.”
“I tried daytrading penny stocks. They pump it up in the morning for the first ten minutes then if you’re not out, run for the hills.”
“I’m a believer in ‘you never know too much’ and ordered a few of your courses, then a few more courses.”
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