The News JunkieQ: What’s typically your style? Are you someone who gets out of
trades by the end of the day? Or do you end up holding them for
longer?
A: Back then I would hold. If it was a good strong fundamental
company, I had no problems holding them for a couple weeks. But
on the side I would do the little tech plays in and out within an
hour of two, and those caught up to me.
Q: So what was your return like in the beginning?
A: Let’s see, that first account I basically blew up in about six
months. So then I opened my next account, promising myself I
wouldn’t take the risk because I stood in front of a lot of very
strong companies and tried to short them, like Expedia, Krispy
Kreme Donut, and just got crushed. That’s where most of my
losses came from, two or three very bad trades.
Q: What do you think got you? Did you use stops? Or was there
just so much volatility?
A: I wasn’t using stops when it comes to the stock market, I’ve
never used stops, ever—even on a short, which was probably a bad
move [laughter].
Q: So about six months later you blew up your account. What
made you want to get back into trading?
A: Right. I just felt like I’d made several big mistakes. I hadn’t
really listened to anyone in the market. I just thought I knew how
to do it. I didn’t want to listen to anyone, and didn’t feel the need
to diversify. But I also didn’t want this portfolio that just grows
5 percent per year. That didn’t interest me because this was money