Alex is a long-bias trader who focuses on penny stocks while learning more about trading big caps. Over 2019 he took his biggest loss, which prompted him to cut down his account to half of its size. After that, however, he realized that “the worst” - loosing big - has already happened, so he started to trade a full size again. As a result, he had to make peace with heavier average losses, but that also gave him a chance at higher average gains too.

In 2019 he’s been breaking into trading big caps. We talked about the transition from small to big caps and the difference between the tools and skill set necessary for them. For example, you need more capital to trade big caps, but you don’t face liquidity issues as you do with small caps. Additionally, following the market is much easier, so it makes sense to focus on 20 or so big names and trade them since you now know how the company operates and what to expect.

We talked about his big loss of May 2019 and how it changed Alex as a trader. We chatted about commission changes for long traders, getting over significant mistakes and moving on with a clear vision from both losses and wins.

We had a great discussion about your ‘Why’ as a trader, a possible burnout, and curbing your expectations when you live your life (as you travel, have kids, have other obligations) while trading full-time.

Alex described his 2020 goals, and (spoiler!) it’s not just a single $ goal. Watch the video to learn more about his goal-setting and his biggest challenge for the new year.