Ep 38 – The Do’s and Don’ts of Master Michael Goode
SteadyTrade
SteadyTrade.com
4.6 • 589 Ratings
🗓️ 7 May 2018
⏱️ 76 minutes
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| 0:00.0 | This is episode 38 of the Steady Trade podcast with your host, Tim Bowen. |
| 0:08.4 | That's how old I. |
| 0:09.4 | And Stephen Johnson. |
| 0:10.5 | You want to quickly go on Tinder again? |
| 0:11.8 | Today, Tim and Stephen are talking with successful day trader Michael Good. |
| 0:16.2 | Technically, I should be addressed as Master Good. |
| 0:19.3 | Sorry, Master Michael Good, who once upon a time was kind of a true |
| 0:24.6 | believer in penny stocks. Wind farming, this is 2004. It's like this is going to be a big thing. |
| 0:30.6 | You started out as a true believer in a penny stock. Well, I didn't get to the part of true believer |
| 0:36.1 | because I'm very skeptical by nature. |
| 0:39.5 | But eventually learned how to turn scams and frauds into real actual money in his grubby little hands. |
| 0:45.4 | You know, it was just a tiny little column talking about scams and frauds and pump and dumps. |
| 0:50.6 | And one time in the summer of 2017, I said, okay, I'll look up this pump and dump and see if it's shortable at IB. |
| 0:57.5 | And it was shortable at IB. |
| 0:58.8 | Of course, he lost a lot along the way, trying to hit a home run on every trade. |
| 1:02.8 | I was up 80,000 for the year. |
| 1:04.1 | Over the next month, in three trades, I lost $100,000. |
| 1:08.1 | Because I wanted to get those big scores, I wanted to hit a home run. |
| 1:13.7 | But eventually, he learned that size really doesn't matter. You don't need a big position |
| 1:18.7 | size to make good money. Which led him to share a secret that he never used to share. |
| 1:22.9 | This is how old I am. That was the old secret strategy, right? That was, that was that, he would never tell |
| 1:29.1 | anybody. He would always, he would mention it, but he would never let anybody know. And put him right |
... |
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