The Stock Trading Reality Podcast

Trading to Create “Fun Money” | STR 009


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This episode's guest is a bit different compared to everyone else we've interviewed who trades with a day job. Nate Wilson (same name in the chat room) is successfully trading with a job, but that's not the unique part. He actually enjoys his job and has no ambitions of quitting it to trade full time. Nate trades for the enjoyment of it and to create supplemental income for his personal finances. I really enjoy this interview as it is a great example of how trading does not need to have the end goal of "I want to trade full time." When done right, trading stocks and options can simply be a solid source of additional income to your monthly budget, or as we call it "fun money." Notes: Nate’s introduction the market was a ‘friends and family’ plan for the Under Armour initial public offering. His background involves looking at companies financials and doing fundamental research. He applied this to his trading for 9 years before learning technical analysis. Nate then started trading penny stocks during the marijuana boom and found continued success. He hesitated taking profits but eventually realized he was riding a bubble and sold before the bottom fell out. After getting educated, he started trading too large to start and while he didnt suffer any large losses, his account wasn’t growing. Once he realized risk management was the issue, he corrected it and has been growing his account ever since. Nate honed his trading strategy to fit his full time work schedule and is now focused on building consistency while managing risk. Quotes: 10:30 “I didn’t even know what a candlestick chart was. I knew my broker had a line that went up or down with stock price.” tweet this quote 12:00 “I was up hundreds of percents and I was still holding thinking it was going to the moon until I took some courses.” tweet this quote 15:20 “I would read these penny stock 8-K’s and knowing how they look for real companies, I knew they were hogwash.” tweet this quote 17:00 “I got lucky through the pot stock stuff and didn’t take any huge losses. I probably didn’t make all I could have though.” tweet this quote 22:35 “I would make a good amount of money when I got it right and I’d lose a lot of money when I got it wrong.” tweet this quote 34:30 “I already watched stuff get out of control and I knew not let my losses get out of control.” tweet this quote Links: Course: The Penny Stock Survival Guide Video: How To Average Down Trade Ideas Twitter: @natewilson2
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The Stock Trading Reality PodcastBy ClayTrader

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