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CSU NORTHRIDGE ALUM AND THEIR MARKET TRADING EXPERIENCE
By MAX LEISTEN
Not every need (question) we get from alumni and students is about career success (many are). Here’s a great example of seeking mentorship on a passion: options trading.
Great exercise to think about how this young alum would go about finding a trading mentor the “traditional” way? Look through LinkedIn from options trading? Scour Reddit for experienced trader (ouch)? Ask friends & family?
The responding alum has a lot of great follow-up questions and I hope the asker jumped at the opportunity to engage and build a mentoring relationship.
Happy Friday!
The "ask"
| I am an options day trader who would love some insight as to how to become more proficient and consistent |
| I am 21 years old, a Business Music major who has found a deep love for investing and the stock market as a whole. I would love to hear from someone who trades on a daily basis and learn their methods. Thank you for the time, hopefully this can be a start to a great relationship. |
The "give"
Hello! It’s great to hear that you’re passionate about the markets.
As far as your trading goes, where do you seem to be having trouble achieving consistent profitability? Have you made a formal trading plan? Do you have a set of rules or a checklist that guides your trading? Do you calculate your risk PRIOR to entering trades? Have you studied/learned technical analysis? What size account are you working with? Are you keeping your position size in line with your account size? What stocks are you trading? Do you primarily buy options or sell them?
All of these factors contribute to your success. Also, having realistic targets/goals based on your account size and comfort level with risk are important considerations. There’s a lot that goes into successful trading, and I’m sure you’ve been all over the internet learning as much as you can, but to properly learn it’ll take more than this little chat.
Feel free to contact me anytime!