Nov 13, 2018
Welcome to this week’s episode of Dropset Gorgeous Radio! Today, I have with me someone who has been on the podcast before, but not in this type of way. I have with me my husband Deni, and he’s been on the podcast before talking about stuff to do with our lives. But today I’m switching it up and talking about what he has going on in his life and how he makes his income, which is through day trading.
Since I am trying to take the podcast in more of a personal development and entrepreneurial path, I thought this would be a really great episode for you guys. It shows another way that you can become an entrepreneur in your own right and create an income for yourself that isn’t based on a typical 9-5. As I always say, I’m not hating on anyone who chooses the 9-5 route, but I am a strong supporter and advocate of entrepreneurial adventures. I want to highlight different ways for you to explore creating an income for yourselves and being your own boss!
- What inspired Deni to get into day trading
- Basics of stock trading
- Investing vs. trading
- The value of penny stocks
- Key mistakes to avoid when day trading
- Tips for day trading successfully
- Patterns of day trading
- Resources for day trading
- Advice for how to handle losses and to keep going
Deni shares why he chose to pursue day trading and the benefits it has brought to his life. He explains how to generate income as a day trader and the work required to be your own boss. Deni also discusses mistakes he has made as a day trader in order to help you avoid doing the same thing. He clarifies how and why you should avoid “revenge trading” and to know when you should cut your losses and step away. For those interested in day trading, Deni stresses the importance of researching, practicing with paper stocks, and understanding the psychology of trading.
Powerful Quotes to Remember:
- As an entrepreneur, the more work you put in, the more you’ll get out. That’s not always typical of a 9-5 job.
- Don’t chase a stock or hold onto a stock for too long.
- Cut your losses. If you’re down, you’re down; get out and move on to the next one.
- If you’re trading out of pure emotion, you’re going to lose money.
- You’re not going to know how to invest your money unless you invest in learning.
- Paper trade until you know you can be profitable.
- At the end of the day it becomes about winning more than you lose.
- The most important thing is knowing how much you’re willing and able to risk.
Mentions:
"Think and Grow Rich and other key reads for new Day Traders"
Discord Stock Market Chat Live
For more information about Amber Morningstar follow her on Instagram, click here, or check out her YouTube Channel.
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