The Pattern Day Trader Rule

Nico (@InefficientMrkt on Twitter) is a day trader with a thirst for momentum. He predominately trades low-priced stocks that have a tendency to move fast and far—and roughly 90% of his positions are on the short side.

But the main reason why I brought Nico onto the podcast, is I feel as though he has a story which many traders will be able to relate to, on one level or another…

The short of it is; Nico placed his first trade in 2007, made 4x on his starting capital year one, and then slowly bleed his trading account for the next seven years. He’s now found his groove, but his overnight success was eight years in the making.

This episode is very much centered around Nico’s journey and development as a trader, and how full-time trading became more than a pipe dream.

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