Jon's been trading for about three years now. He was actually neighbors with my coach when Lawrence started. What really surprise or impress me sometimes is how nonchalant he is. Some traders I've met or talk to they're really competitive or they get upset sometimes when they lose money. Jon seems completely confident in his ability, even if he had bad trade he knows he can make it back (that's my impression at least). We talked about this one bad trade which led to the worst day of his career and how he lost a lot of money shorting JRCC as the stock went from $4 to I think $60 and the entire he just has the expression that it was no big deal, you live and learn.
Apparently Jon had done something similar to what I'm doing with another trader. They wanted to interview the top traders out on the floor and publish some kind of magazine (for internal circulation?). He said that one of the top traders told him that it's ok if you lost a lot of money for the day as long as you learned something. It's only a bad day if you've waste the day.
As a trader, Jon says he'll trade just about anything. He'll be in tons of different stocks and some longer term trades. It seems Jon is making a conscious effort to improve his longer term trading as he's made goals in that area. I would love to stretch out my timeline as well once I've established that I'm good at one thing to build the confidence and increase my risk appetite like some of the HP's have. Jon says he typically gets in about 6:45am and scans the IDB headlines and if there's anything that interests him he'll read more in-depth.
The biggest takeaway for me is probably to watch the float and short interest, which I already kind of do but probably doesn't pay attention to it that much and maybe it's more for longer term plays.
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