EP 057: $500k of “beginner’s luck” and how to thrive as a part-time trader w/ Jesse aka @PsychoOnWallSt

Aaron Fifield Podcast 1 Comment

This week, I have a really interesting guest on the podcast; his name is Jesse, but in the Twittersphere he goes by @PsychoOnWallSt—a play on the cult film American Psycho.

A couple things you should know about Jesse, he made $500,000 in 90 days trading marijuana penny stocks, and then lost it all just as quickly (one wild story!)

He went from part-time to full-time trading, and for now, has returned to part-time trading with the results confirming this was a profitable move. He describes his approach as a hybrid between a day trader and a swing trader. And his motive for trading, is to one day open a fully-functional no-kill animal shelter—needless to say, I have a great amount of respect for Jesse. All of these topics and more are covered in-depth during the interview…

Follow Jesse on Twitter: @PsychoOnWallSt

“The rules are in place to protect me from myself.”

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“There’s two types of traders – those who have experienced a life-changing loss, and those who will.”

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Lessons learnt in this interview:

  • How to make $500,000 in 3 months, and lose it just as quickly… Jesse shares a savage learning experience from trading penny stocks in the Marijuana boom.
  • Why Jesse went from part-time to full-time trader, and then returned to part-time – discussing emotionally charged decisions when trading is your sole source of income.
  • What it means to be a hybrid between a day trader and a short-term swing trader, how Jesse; scans stocks, creates alerts, manages positions, and scales in and out of trades.
  • The gap often-overlooked between deciding you want to become a trader and taking your first trade. You’ll also hear Jesse’s take on premium trader education/services.
  • Trading aside – Jesse speaks about his ongoing fight for the well-being of animals, the issues that need greater awareness, and how you can play an important role to help.

Links and resources mentioned:

  • PsychoOnWallStreet.wordpress.com – Here’s a link to Jesse’s blog; although he hasn’t posted recently, he assures us that’s about to change. Weekly recaps, thoughts and reflection, coming soon.
  • @PsychoOnWallSt – And be sure to follow Jesse on Twitter!

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