Watch the Full Trader’s Mindchat Show interview with Chris Perruna here!
Do you want to know how to trade part-time while managing a full-time career and family? How to research and invest in young innovative growth companies and crypto? On the Trader’s Mindchat Show, Mike and I interviewed Chris Perruna, who has mastered the balancing act of trading part-time while juggling a full-time career and family life.
During the day Chris is a real estate professional, but spends his personal time researching young innovative companies, while investing and talking stocks on social media and through his website, www.chrisperruna.com. and on Twitter @cperruna. Chris has been featured in three published market books and his work has appeared in numerous publications such as the Wall Street Journal Online, The Trader’s Journal and others.
We dive deep into trading part-time, Bitcoin, and the screening techniques to great trading ideas and more.
Here are the Top Ten Highlights from Chris Perruna:
- Look at the signals and Watch the trends. Get on the trend and ride it.
- Nicholas Darvas Approach. Chris doesn’t need to see the market every day. Lots of noise during the day. He watches where stocks are at the end of the day or end of the week. Weekends he uses to go through his analysis and screens.
- Look at Growth Stocks and find major brands like Uber and Peloton that will most likely stick around for a while.
- Maturity with Time. If you see a stock and miss it, don’t let your ego prevent you from buying it again in the future if the timing is right.
- Have Patience Playing the Long Game. Can you mentally and physically handle the drawdowns, because there will be drawdowns.
- Bitcoin is an Asymmetric Play. Volatile today but believe it to be a store of value, similar to precious metals like gold. Prefers to own the coin itself and recommends you store it (He uses Gemini for storage but do your research and ensure the protocols are in place to protect your asset).
- Seek out best companies in top trend industries and buy them. When estimating future growth in companies it can be a guessing game but do your research and look at the top ten trends and if unsure which company will take off and be the winner, buy top 2 or 3 companies within that trend and split your dollars accordingly.
- Understand Yourself and what your capable of doing. You don’t have to put all your money into the market and try to turn it into your main income. Diversify your accounts or trade part-time with a regular job. Figure out what allows you to sleep comfortably at night.
- Act on your Convictions. If you have done your research then start buying your best ideas then focus on your best ideas, put more money into those stocks and ride them.
- Understand you are going to have Losses. Don’t treat trading like sports and look at number of wins versus number of losses. Understand what works by journaling or backtesting and gain great insight from those findings. Then gravitate toward what works.
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To continue crushing it with your trading, check out the following MARA blog posts:
4 Ways to Boost Trading Confidence!
Top Ten Trading Highlights from Adam Sarhan
The Four-Walled Prison of a Trader’s Mind