Choosing a Slow and Methodical Approach | STR 164

Published: May 7, 2018, 4:45 p.m.

b"I love people who have ambition and follow through with it to the maximum potential. I\\u2019d argue that our guest, Peter from our community, takes this to an entirely different level. You\\u2019ll see what I mean when he talks about his photography passion\\u2026. Wow! I\\u2019ll just leave it at that. I bring that up to give you the overall context of Peter\\u2019s personality and approach to life. I found the discussion very interesting to see how someone with so much hardcore passion would implement that into the world of learning the markets and becoming a trader. Peter does not disappoint and we talk about a variety of topics and considerations that all traders (new or old) need to remember to factor into their trading approach. Notes: Today we interview community member Peter. His wife was given a bonus but it had to be paid out in stock. They could then decide how to diversify it. Peter didn\\u2019t want to be bothered with it so he put it on the \\u2018middle of the road\\u2019 risk parameter and let it grow on it\\u2019s own. Peter has a passion for photography so this led him to move to Iceland from Hungary. Since he left the company he previously worked at he was required to cash out the stock\\u2019s he had threw them. He did take an introduction to the stock market course but wasn\\u2019t very impressed so he didn't continue with this initial source. After going through many Stock Trading Reality Podcasts, Peter knew that this was the place he\\u2019d like to learn. After trying to find what timeframes worked best for him, he realized that he did not excel on shorter periods. The good thing is that he took the time to figure this out on paper instead of blowing up multiple accounts to find out. Peter is taking a very slow and methodical approach to the market since he has heard many stories about what happens when you jump in head first without the proper training first. Quotes: I thought the stock market was a playground for the rich people, that\\u2019s it. I just wanted to get a broker and I just wanted to start. But I decided to listen to podcasts about it first. I did try shorter timeframes. I killed myself with a noose. I tried to trade those and you know how it is for a beginner. If I started earlier I would have run into it full force and it would have definitely burned me. If you trade the plan it means you have a strategy. If you trade the plan it means you are patient and disciplined."