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Chat room member Ricky (from Pittsburgh) has a journey that, if you’re honest with yourself, I’m sure you can relate to in one particular way. That is, being a total innocent guppy at the beginning of his trading journey swimming in shark infested waters. There is nothing wrong at all with having a history of being a guppy, but the key question is, have you begun to transition into being a shark? Ricky has, and he tells us what he has been doing to transform his trading into that of a shark, rather than that of a dumb guppy. Notes:

• Ricky’s introduction to the market was in 2007 when his friend and himself witnessed an IPO skyrocket and they thought about how much money they could have made.
• When Ricky first began trading he was very good at cutting his losses immediately. As time went on and he was drinking the Kool-Aid of the tickers he was trading, he was more open to taking much larger losses by holding bad positions.
• After doing more research over the years, Ricky decided to join CTU. He saw folks finding success in liquid options that would prevent the liquidity trap that penny stocks present.
• Ricky has actually made more money flipping penny stocks vs. trading options, however, he continues to work toward finding consistency in options.

• “I drove down to the Scottrade office to try to get shares for the next IPO. I didn’t even know there was a wait time for that.” tweet this quote
• “Everyone has an agenda. I have even been caught up in pumping stocks without even realizing it.” tweet this quote
• “I just started watching some charts. Took 2-3 weeks before I placed a trade. It was like starting over brand new.” tweet this quote

• Video: Penny Stocks vs Options… Which Ones Better?