We cover quite a bit in this discussion with fellow member Keith (same name in the chat room). We once again see that “free” is not actually free when it comes to YouTube videos and also how strategy hopping works and the hinderances it can create. The overarching point of context here is that Keith left his full time job to focus on trading, which, is a gutsy thing to do. If you are thinking of doing the same, or perhaps already have, this discussion will give you some great insight into what has happened and will probably need to happen. Let’s get to it!
Today we talk with Keith who goes by the same name in the community. Unfortunately he invested in some penny stock guru which didn’t ultimately lead to anything but it did spark his interest in the markets.
After buying and holding some mining stocks, Keith realized he needed to learn from someone who knew how to trade. This would require more than just watching people on YouTube. He enrolled in Claytrader University and left his job to focus on it solely.
Even after going through the courses, Keith realized he still needed to focus on his consistency. This is a function of the emotions that play into trading the market. Discipline is crucial for the type of trading he is working on.
Keith has tried a few different styles of trading but recognized that he needed to decide on one and give it a real chance. Considering he works 30-40 hours a week, he noticed that he should focus on longer term swing trading.
I never took the time to go into fundamentals. Now it’s just all charts.
I don’t have the patience for anything long term.
Now I drive Uber and Lyft. That was my plan going into it… having some kind of consistent income as well.
I don’t want to be a strategy hopper. I’m getting more comfortable with it as time goes on.