Millionaire TradersQ: Let us go back to some general life questions: Are you mar-
ried? And if you are, how does your spouse react to your trading?
A: I’m not.
Q: So you don’t have anybody to answer to, which makes it a lot
easier.
A: That is correct and I’m using my own money and I’ve actually
turned down money. I’ve had people offer me money, several
times in the last two years. But the thought of losing someone
else’s money...you know, having started a business where people
invested half a million dollars—a lot of it from friends and not
being able to return their money for a long time—that was just
terrible. So that’s why I’m hesitant to take other people’s money. I
want to be absolutely sure that I can get them a profit. I hate losing
my money. But I can handle it. The idea of telling someone else
sorry, you know, the account is down 5 percent this month, is an
extra burden that I don’t want.
Q: Do you have multiple trading accounts or do you concentrate
on one?
A: I have five. All for different reasons. Cyber-Trader I like. That’s
actually what I’m looking at right now on my screen. I have Fidelity,
because of Wealth Lab. I like Wealth Lab, wonderful back-testing.
And I have Interactive Brokers because you could trade just about
anything there is and the commissions are wonderful.
Q: When you decided to start trading full time, you obviously
had capital. Did you walk into this venture essentially saying to
yourself, “Oh, I can do this for a full year and not have to make a
dime”?
A: Well no. And if you lose your money, it is a self-correcting
problem. It prevents future losses [laughter].