Here's my bullet-point summary of this interview with a trader named Alex, "AT09"
- 22 years old, trading for three years
- Found penny stock chat room, doesn't say which, Sykes' probably?
- Bought "breakouts" and got "dumped on," lost all his money
- Sold his car rims to fund his second account, total $2,000
- Avoided "Pattern Day Trader" rule with offshore account
- Found new chat room via Twitter, "Investors Underground"
- Discovered that you could sell short, "blew his mind"
- Hooked on shorting after making gains in "VVGL" [since de-listed?]
- "Intoxicated" by making money on the short side, started shorting indiscriminately, bad idea
- Junk companies gapping 100% in summer 2015, "BIOC" "ITEK" "OGEN" "BLPH" "NVAX"
- In the right place at the right time, shorting junk, summer 2015
- Doubled share size from 500 to 1000 shares
- "DRYS" ... company is "complete dogshit," and "toxic"
- Made ~$66K shorting "DRYS," big size and patiently held "long term"
- Account grew to around $10K when he "started finding success," wired excess out
- Once you increase size, you can't go back, taste of large gains too intoxicating
- Made $100K+ in one day: Short "DCIX," "ESEA," "GSL," "SINO" (long and short)
- Can't put size on in "shitty, no volume stocks" ... don't rush it
- First chat room, people were "bullshitting around" [not unlike the poker table]
- Hard to find people who are legit, actually making money [ain't that the truth, Teresa]
- "IPCI" "MCUR" made multiple thousands trading these in a day ["MCUR" since de-listed?]
- Value of watching people with different styles, day traders vs. swing traders
- Seeing how people scale into a trade (on DVD they're selling) is invaluable
- Made $66K on "CLTF" short, summer 2015 [since de-listed?]
- "CraigTrader" taught him to sell/cover half, hold half
- Flipped a house to gain real estate experience, made $30K, took six months, didn't enjoy it
- Made $100K in July 2016 when "small caps came back," doing what he loved
- More of a position trader now since helping with his Dad's small business
- Not a day trader now, can't be in front of screen all day long
- Making more money as swing trader than as a day trader
- Doesn't want to be stressed making $1,000 a day, doesn't want to force things
- Patiently waits for "niche" plays, takes large position, patiently holds
- Wants to hold for weeks on end, save his mental energy, not spend it on day trades
- Follow him on Twitter: AT09