Replace Your Income with Options Teenage Whiz Kid Manages Mom's Fortune with Jake Wujastyk, Ep #98
Jake Wujastyk is the Chief Evangelist and VP of Strategic Growth at TrendSpider. He’s been fascinated with the stock market since middle school and has been trading as a hobby ever since. His pursuit of Economics in college led to a love for start-up businesses and greater knowledge of the markets. He is now combining his passion for the stock market and start-ups to help make TrendSpider the world’s most powerful technical analysis software. In this episode of How To Trade It, Jake shares valuable knowledge related to his success. You don’t want to miss it!
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You’ll want to hear this episode, if you are interested in…
- [00:29] Hearing how Jake got started in the markets…in middle school!!!
- [08:16] Where to enter a trade
- [19:47] Having VWAP explained
- [25:20] How the Volatility Index works
Middle School
Jake’s mom started him out with a custodial account, while he was still in middle school. By the time he was in high school, the financial crisis of 2008 was in full swing. Jake would ask for shares of stock for Christmas, and by the age of 16, his mom was letting him trade her account as well as his own. He learned about the markets from reading message boards and through trial and error. Jake was good at trading beaten down names like AIG, Wells Fargo, and Genworth Financial. He attributes his success to lots of luck and an emotional detachment to his trading, since he wasn’t using his own funds for investment. Jake stopped trading while he went to college to study economics. This ultimately led him to a greater understanding of how the markets actually operate.
Entry Point
Jake likes to use basic volume-weighted average prices to determine where to enter a trade. He looks at volume from a specific anchor point in time. He tends to exit at the break of the previous week’s low.
Resources & People Mentioned
- Brian Shannon at AlphaTrends
- This coupon is good for 25% off a single month or single year subscription to TrendSpider. The 25% off coupon code is HTT25
Connect with Jake Wujastyk
- Website: http://trendspider.com
- YouTube: https://www.youtube.com/c/TrendSpider
- Twitter: https://twitter.com/Jake__Wujastyk
Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.
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