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006 – Some would trade anything for this side-hustle – with Russell Comer
(See my funny play on words in the title… “would ‘trade’ anything for this.” haha, get it?!… I’m funny) . MOVING ON….
This episode features a good friend of mine, Russell Comer! Russ is a full time government contractor for D.O.D., and his job description there seems to fall into the “I’ll tell you but then I’ll have to kill you” category. Being as you are reading these notes after our interview, you can assume this wasn’t the topic of conversation during our interview….
Or maybe it was, and I’m not really here… Maybe the CIA is writing this… Maybe since I scheduled this show to release a couple weeks after our conversation, I was killed a week ago, and the G-man hit squad forgot to stop the podcast from launch and you are about to hear the super secrets of our Defense Department… I’m going to keep thinking like this until I know I’m safe… But what if I never am… What if I go on and on like this… What if I keep talking in rhetorical questions until you just can’t take it anymore… Or what if… Know what, Let’s reign in that colorful A.D.D. imagination of mine. I FULLY pledge to you, my audience, that as of this moment, I am not dead due to my conversation with Russell Comer. (they are making me type this…….help.)
Russ is going to talk to us today about the thing he does as a side hustle outside of the confines of his government work….. stock trading! Now, if you are just itching to click the link to his web site and see pictures of him sitting on the hood of his Bugatti, parked in front of his private jet, while “casually” holding a bag of $100 bill toilet paper, while making a point to say like 10 times, “You see all this stuff. I don’t care about any of this stuff. It’s no big deal. I just am showing you all this so you know what’s possible!”…then you are going to be highly disappointed in this interview and should stop reading/listening now. This is not what Russ is about and not what his style of stock trading is about. And it’s absolutely not behavior or strategy that I want to encourage for listeners of my show.
We briefly discussed the concept of futures trading, which is something I’m completely ignorant about. One of my favorite podcasts, Planet Money, put out an episode lately that researched the movie Trading Places, with Eddie Murphy. This is one of my favorite movies, and I still don’t understand futures trading. But the Planet Money episode was AMAZING! I highly recommend you give it a listen.
As an aside: We talked about the concept of placing stop orders and limit orders when you place your initial trades. Investopedia has a great explanation of what these things are. When trying to calculate what to set as your stop and limit orders for when purchasing stock, he has a super cool and very simple calculator on his web site. This calculator follows Russ’s general rule of following a 3-to-1 ratio rule when trading. Simply explained with example: Your account is worth $100,000. You are not allowed to invest more than 25% of your total account value in any one trade, so $25,000 max in any one investment, so no more than 4 active trades happening at any given time. This help keep you focused and not overwhelmed by trading dozens of stocks at a time. You then set the max upside on that trade at a 3% return on TOTAL...
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By Jason Herzberger
5
4848 ratings
(See my funny play on words in the title… “would ‘trade’ anything for this.” haha, get it?!… I’m funny) . MOVING ON….
This episode features a good friend of mine, Russell Comer! Russ is a full time government contractor for D.O.D., and his job description there seems to fall into the “I’ll tell you but then I’ll have to kill you” category. Being as you are reading these notes after our interview, you can assume this wasn’t the topic of conversation during our interview….
Or maybe it was, and I’m not really here… Maybe the CIA is writing this… Maybe since I scheduled this show to release a couple weeks after our conversation, I was killed a week ago, and the G-man hit squad forgot to stop the podcast from launch and you are about to hear the super secrets of our Defense Department… I’m going to keep thinking like this until I know I’m safe… But what if I never am… What if I go on and on like this… What if I keep talking in rhetorical questions until you just can’t take it anymore… Or what if… Know what, Let’s reign in that colorful A.D.D. imagination of mine. I FULLY pledge to you, my audience, that as of this moment, I am not dead due to my conversation with Russell Comer. (they are making me type this…….help.)
Russ is going to talk to us today about the thing he does as a side hustle outside of the confines of his government work….. stock trading! Now, if you are just itching to click the link to his web site and see pictures of him sitting on the hood of his Bugatti, parked in front of his private jet, while “casually” holding a bag of $100 bill toilet paper, while making a point to say like 10 times, “You see all this stuff. I don’t care about any of this stuff. It’s no big deal. I just am showing you all this so you know what’s possible!”…then you are going to be highly disappointed in this interview and should stop reading/listening now. This is not what Russ is about and not what his style of stock trading is about. And it’s absolutely not behavior or strategy that I want to encourage for listeners of my show.
We briefly discussed the concept of futures trading, which is something I’m completely ignorant about. One of my favorite podcasts, Planet Money, put out an episode lately that researched the movie Trading Places, with Eddie Murphy. This is one of my favorite movies, and I still don’t understand futures trading. But the Planet Money episode was AMAZING! I highly recommend you give it a listen.
As an aside: We talked about the concept of placing stop orders and limit orders when you place your initial trades. Investopedia has a great explanation of what these things are. When trying to calculate what to set as your stop and limit orders for when purchasing stock, he has a super cool and very simple calculator on his web site. This calculator follows Russ’s general rule of following a 3-to-1 ratio rule when trading. Simply explained with example: Your account is worth $100,000. You are not allowed to invest more than 25% of your total account value in any one trade, so $25,000 max in any one investment, so no more than 4 active trades happening at any given time. This help keep you focused and not overwhelmed by trading dozens of stocks at a time. You then set the max upside on that trade at a 3% return on TOTAL...