Advice for New Traders: Be Active and Learn Markets

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Connect with our guests:

https://www.linkedin.com/in/tom-sosnoff-047627293

https://youtube.com/@tastyliveshow

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On this episode of the Words of Rizdom podcast we are joined by Tom Sosnoff. Tom is an entrepreneur, options trader, co-founder of Thinkorswim and Tastytrade and exited both for over a $1 billion. In this podcast we discuss the major pitfalls of retail traders, the advancement of trading technology and how "easy" it is for traders these days to become profitable and what is takes to built a billion dollar company. I hope you guys enjoy this incredible episode!

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Connect with Words of Rizdom:

https://instagram.com/wordsofrizdom

https://twitter.com/wordsof_rizdom

https://www.instagram.com/realriziqbal

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00:00 Introduction to Tom Sosnoff

08:40 Innovating for Retail Traders

13:00 From Trading Floor to Fintech Tools

17:40 Building Tastytrade: Financial Media Revolution

22:10 Passion, Challenges, and Trading Performance

27:10 Changing Barriers, Learning, and Taking Risks

33:00 Active Trading vs Passive

38:30 Risk, Mechanical Edge, and Law of Large Numbers

44:00 Size, Risk, and Portfolio Management

50:00 The Truth About Edge in the Markets

55:10 Setting Realistic Goals in Trading

01:01:30 Consistency, Compounding, and Longevity

01:13:00 Work Ethic, Life Lessons, and Final Advice

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Disclaimer:

The content on Words of Rizdom is for informational and educational purposes only and should not be considered financial, investment or trading advice. I am not a licensed financial advisor, and the strategies, opinions, and commentary shared are based on personal experience of the respective guests. We are not personally affiliated with any of the guests featured in our episodes. The views expressed by our guests are their own and do not necessarily reflect the opinions or endorsements of Words of Rizdom.

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Trading and Investing involves risk, and you should always do your own research or consult with a qualified financial professional before making any investment decisions. You are solely responsible for your financial decisions. This channel and its creator are not liable for any loss or damage arising from the use of information presented in videos.

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