Mutual Funds to Penny Stocks to Options and Being the Casino | STR 042

Published: Jan. 4, 2016, 5 p.m.

The one thing that amazes me is despite the fact that many guests have had "wild journeys", there is always a unique little twist that people bring to the table. This show's guest, Jaime (goes by the same alias in the chat room) first got started trading mutual funds. A pretty bizarre thing, but an interesting way for sure to get him interested in trading in general. From there, Jaime made many pit stops along the way until now where he has arrived at BEING the casino in options trading. Notes: Jamie joined the Navy at a young age and they had him set up a retirement account. He had set the account to take 10% of his income every paycheck and didn\u2019t check on it for years. After a few years he started to investigate various funds and attempted to catch the top and bottom of the line graphs for fun. It was only after he got in trouble for too many transfers that he once again let the retirement account sit. Seven years later, Jamie revisited the market after hearing coworkers talking about the marijuana penny stock boom. The interesting thing is that he didn\u2019t actually trade penny stocks until a few years later. That phenomenon was just the catalyst that rekindled his market interest. After putting his entire account in the Facebook IPO, he stumbled upon Claytrader from a Youtube video and that led him to the education available to further his skills and become more proficient in technical analysis and trading. Jamie has found great success selling options premium on expiration Friday with 2 hours left in the session. To translate, Jamie is selling options to folks who are looking for large outlandish move at the end of the session. The probabilities are highly in his favor that a move that large will not happen and this leads him to capture the entire profit. Quotes: \u201cI decided to see if I could find the top and find the bottom of these funds. After 2 months I got in trouble for too many transfers.\u201d tweet this quote \u201cI was using CNBC to scan and it would list the top losers for the day which I would then buy.\u201d tweet this quote \u201cI found that options premium in the first 15 minutes gets skyrocketed or drops out during that time.\u201d tweet this quote \u201cI wish I would have stuck with regular stocks instead of trying penny stocks. I wouldn\u2019t have taken the time off from my losses.\u201d tweet this quote Links: Podcast: Episode 34