We look at diversification in a slightly different way in today's interview. Our guest, Darren, operates his own business; however, due to realizing the need to create additional income streams for himself decided to venture into the world of the stock market and trading. Due to Darren's experience already with starting and running a business, he approached his trading career the same way. What did he do? How did he set-up his trading business? We learn about this and more. Notes: Darren owns his own business but quickly came to realize you are at the mercy of reliable employees to continually grow the business. He wanted to take some of that financial dependence into his own hands and opened a trading account. While Darren was not hesitant to invest in his education right away, the training he took did not include any technical analysis and because of this he was unable to develop consistent profits. He is now trading directional options and has focused on a select set of stocks to get intimate with while learning how they act to be able to capitalize on their moves daily. Darren would recommend that all new traders spend a healthy time practicing because with practice comes confidence in yourself and that is a strong attribute to have while trading. Quotes: "I did take an $8k extensive options course but it lacked the charting. Not knowing the charting made it too difficult to stick with." tweet this quote "I look at the chat and then I look at the chart and then I make an educated analysis. Before I would just buy an alert." tweet this quote "I used to think 'it will come back' when I was taking a loss. Now it's just like hitting a pothole. You hit it and you move on." tweet this quote "1. Get educated. 2. Practice that education. 3. Continue to practice until you are confident in your abilities." tweet this quote Links: Video: The Trade Plan Destroyer Video: Getting Romantic With Options

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related