Getting Punched by Penny Stocks and Finding a New Way | STR 096

Yup. It has happened yet again. The bright and shiny world of penny stocks and their apparent ability to grow small accounts punched another trader in the face. While the punch to the face knocked down our guest, AlphaThor (his alias in the chat room), it didn't knock him out. Being the mentally tough guy he is, he has gotten up from the mat and found a new way. In the markets, there is no shame in getting punched in the face, the key things that matter come from HOW you react to the punch. Notes: Alpha's introduction to the market was a Tony Robbins book that focused on the sooner you invest, the easier it will be to retire and grow your wealth. He decided to open up an IRA account to start preparing for his retirement and decided to invest in some IPO stock that Carl Icahn was involved in. After seeing people talking about multiple 100% gainers in the penny stock world, Alpha decided to abandon his original plan and went on to trade penny stocks. He joined a few chat rooms and was unfortunately a victim of the all too common pump and dump occurrences. When his chat room subscription ran out, Alpha found lots of Clay's free videos on Youtube and found a lot of great information from it. This led him to join the community especially considering it was a fraction of the cost compared to the other chat rooms he frequented in the past. Alpha noticed that many people in the community were trading options with a good amount of success. He decided to invest in his education and joined Claytrader University so that he could learn about technical analysis, risk management, and ultimately options. Options appealed to him and the ability to use a smaller amount of capital while also having more opportunities than what was available in the penny stock market. As he continues practicing and finding what works best for him, we're sure that he will start to find his niche in the market and continue to grow his accounts. We're very passionate about financial independence and have no doubt that he will be able to achieve that with his continued hard work. Quotes: "I had no knowledge about the stock market. I was just happy with that profit and decided to exit there." "I'd figure out sooner than later that I bought the top and ended up selling into consolidation." "I just felt I was learning more from your free content on Youtube than anywhere else so I joined the Inner Circle." "I came to the realization that options can move just as fast as penny stocks." "That's why they call it a journey. I didn't expect to be a consistent trader in less than a year." Links: Blog: Best Online Stock Broker Video: Avoid The Pattern Day Trader Rule