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This week I interviewed Hans Dederle, the founder and president of Honza Financial – an options trading asset management firm (located in Florida).
Hans originally started out as an accountant, before becoming a stock broker, following that he began to trade independently and now, trades other peoples money as well.
He’s been doing this for just over 8 years now, and one of the things I really liked that come about during our discussion, was how Hans has a laser focus on quality over quantity. As a day trader he averages between 1-3 trades per day, which he’s usually in and out of within the first couple hours of each session.
Which then lead into the topic of making money as a secondary objective, and having a primary objective to consistently make good trades, inline with your strategy. There’s a bunch of great takeaways over the next 45 minutes… enjoy!
Lessons learnt in this interview:
- Hans shares his journey from starting out as an accountant, then going on to become a stock broker, to independent trader, and now trading other peoples money.
- Why chasing losses, averaging down, and veering from his strategy caused Hans to lose two accounts early on – he sums it up with “emotions and stupidity”.
- How the opportunity of managing other peoples money came about, and how it’s expanded from close family and friends to outside investors.
- The positive effect Hans experienced when trading larger amounts of capital, and how he became more focused on ‘the trade’ rather than monetary gains.
- Hans gives insight to his way of trading the open in high volatility stocks, and why he aims for a limited number of quality trades each session.
- The impact of volume, volatility, spreads, market makers and specialists have on day traders, and how Hans works these factors into his strategy.
- A reminder that day trading requires plenty of trial and error until you find something that clicks, and you will fail your way to success.
- Plus, much more…
Links and resources mentioned:
- HonzaFinancial.com – To learn more about Hans and his asset management firm, you can visit his website here.
- @HDederle – Be sure to follow Hans on Twitter, for pics from his travels, PnL screenshots (and the occasional selfie, ha).
- @HonzaOptions – Hans is also an active user on Instagram.
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