EP 017: Swing trading for a large chunk of the major trend, plus the one common trait of million dollar traders w/ @JasonLeavitt

Aaron Fifield Podcast 24 Comments

This week we’re chatting with equities trend trader, Jason Leavitt.

Like many who get into trading, Jason had no formal education in the field. Actually, prior to trading full time he was waiting tables in a restaurant and bartending.

This is where he began swing trading and to this day, Jason is still primarily a swing trader. Riding trends anywhere from a few days or a few weeks, sometimes it’s even a matter of months when his aim is to take out a large chunk of the move. Ultimately the market environment dictates his holding time.

This is somewhat similar to the way I like to trade, so I found many of the answers Jason gives out during this interview to be particularly interesting, and I’m sure you will too. Regardless of the time-frame you trade.

Also, in the later part of this interview, Jason shares a story about the wildly successful independent traders he’s met, and the one standout trait they all have in common. Which is again, really insightful.

Q + A:

If you would like to ask Jason a question and get a few pointers – drop a comment at the bottom of this page and he’ll respond to you with an answer.

“I found one thing that works and zeroed in on that, I dont have to have a PHD in finance to do this.”

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“Successful traders specialize in doing one thing really well, and they do it over & over.”

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Lessons learnt in this interview:

  • How Jason transitioned from waiting tables and bar-tending, to a full time trader in the space of two and a half years.
  • Jason shares some insight on the two types of trades he focuses on, and how he often captures major price swings as a direct result.
  • Depending how the overall market (and sectors) are trading, influences the type of trades that Jason is willing to take. We find out how he trades in a range bound market, verses a trending market, and why clearly separating the two was one of his major turning points.
  • Jason describes his process of broadly scanning hundreds of stocks, and how he narrows it down to just a few stocks with quality setups.
  • Jason relates trading to baseball through a clever analogy, to describe how you can achieve better stats, and how you should be judging your performance. Get this right, and the money will take care of itself (to a certain degree).
  • The standout trait amongst wildly successful independent traders who make anywhere between a few hundred thousand dollars, to a couple million dollars every year.
  • The 4 most common traits amongst new traders who are continually treading water. Hint; style drift and the lack of a detailed game plan are two of the big ones…
  • And much, much more…

Links and resources mentioned:

  • To learn more about Jason and his trade idea subscription service, you can visit leavittbrothers.com.
  • If you would like to trial the Leavitt Brothers trade idea service, use this link to get one month for $15 (normally $99).
  • And be sure to follow him on Twitter, @JasonLeavitt.
  • TC2000 – The charting and scanning software Jason uses to find trades.

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