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Get To Know Your Fellow Bear Bull Traders Members: Interview with Joseph

| Published: 07/19/19

1. Chat Name

  • Joseph

2. City/State/Country

  • Idaho Falls, IDAHO, USA – Originally grew up in Wyoming.

3. How Long have you been trading?

  •  5 years

4. When and why did you join Bear Bull Traders?

  • Looking for a great community of like minded people.  Really the only way to succeed.

5. Recommended Trading Books/Websites/Videos

  • Books:
    • Andrews Day Trading book (How to Day Trade for A Living)
    • Mastering the Trade
    • Japanese Charting Techniques
    • A beginners guide to day trading online
    • And many others. I enjoy reading.
    • Anything I can not find information on I go to https://www.investopedia.com/
  • Videos
    •  I do not watch a lot of videos anymore.  Takes up a lot of time.  I do like recaps by Andrew and some other traders that have built a following.

6. Top 3 trading setups

  • Trading the open.  I really like the opening and seeing an engulfing candlestick going either up or down and trying to find my entry close to the bottom or top of the candle before the engulfing candle.
  • The ABCD pattern is probably my favorite long pattern.  You just have to be patient with it.
  • Riding a short squeeze.  Especially when it gets out of control.  I like to see the bears lose total control of the situation and just ride the up wave.

7. Best advice you were ever given and can pass on?

  • CONTROL YOUR LOSSES – It is not about how much money you can make, especially starting out, it is about controlling the losses. On a personal note, I have a sign up in my office that says “DO NOT TRADE TWITTER”.  Every trader gets their own nemesis, Twitter is mine.

8. Most interesting trading story you can share?

  • I do not know if it is interesting or not, but when Mark Z. was representing himself and Facebook had been beaten down, I day traded it multiple times all day long as he spoke and answered questions.  The stock just continued to rise.  I continued to go long and exit, rinse and repeat.  Could not find a top that day.  It was my best day of trading to date.

9. Anything else you would like to share?

  • I could probably contribute an entire article on this section, but one thing that I would really like to add is, do not be afraid to short stocks.  For some psychological reason that I have yet to understand, most everyone when starting trading is thinking of going long.  Buying low and selling high.  It took me a while to become comfortable with shorting a stock, but when day trading I can honestly say that I make 75% of my money shorting stocks.  Do not get me wrong, there are times when being long in a stock is a great position to have, but keep options open to go both ways.

 

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