Wall Street is a huge place with all kinds of people, and here at Clusterstock, we try to show you as many sides of the industry as possible.
That’s why we came up with a questionnaire profiling traders — the guys that hear the gun go off at 9:30 AM EST (depending on where they are) and sprint until market closes
Our first profile comes from Jose, also known as Stop_Hunter on Twitter. He’s a super internet savvy day trader based in Miami who’s found a ton of success trading equities.
Below, he’ll tell you about how he got into trading, his day-to-day, his biggest losses and wins, and what he thinks about some of the big questions of the day.
Name/Alias: My name is Jose, but I am also known as StopHunter (@stop_hunter)
Age: 24 years young
Where are you located?: Sunny Miami, FL
How did you start trading?: I’ve always had an interest in the markets since I was young. After I graduated high school I had saved up a small fortune from a side business I started when I was 16. Instead of taking a year off and travelling the world I decided to take a crack at “investing” which later turned into trading during the financial crisis.
What do you trade?: Purely day trading of equities, primarily in-play stocks.
Do you keep any particular hours?: I am usually up by 5:30 am to get in a quick morning workout and on the desk at around 7:30 to start my morning research. After the market closes I take an hour break then get back on the desk to review the trading day, my trades, and start my research for the next day. I am usually off the desk at around 7-8pm.
Do you listen to music while you trade? If so, what?: I do not listen to music while I trade. The reasoning for this is due to “Broadbent’s Bottleneck”. I do not want any distractions and need to be 110% focused on the markets.
How long have you been trading?: I have been trading full time since 2007.
Do you do anything else besides trade?: I have some properties that I rent out, freelance web design (when the market is slow), run www.bidhitter.com with my partner, and started to work on my MBA. I am still young so I want to compound the returns on my trading account; these side jobs allow me to do so.
Personal motto?: I strive daily to improve physically, mentally, and professionally.
Next step of your career?: The next step naturally is to launch my own hedge fund, which I have plans to do so within the next few years. I want to seed the fund with around 50% of my own capital to give the confidence to investors that I am not just trading with their capital.
What happened on your best month of trading?: My best trading month was when I was on a hot streak trading options. With each winning trade I would load up with larger size and eventually quadrupled my portfolio.
What happened on your worst month of trading?: My worst month was actually the month after my best month. I came into the New Year with a huge ego and the market humbled me right off the bat. I couldn’t put on a winning trade if my life depended on it. I finally scaled back on size, reexamined what was going on, and was back in my rhythm the month after.
What did you do/buy with the money from your first big trade?: I celebrated with a huge night of partying (at an expensive club) with all my friends and I picked up the tab. I spent so much money that night that I set a rule not to take out money from the trading accounts so that I can compound returns.
What’s your worst trading nightmare?: To be loaded short in an intraday position when out of nowhere news breaks that it is getting acquired for a 100% premium.
What is the most important quality a trader should have?: Being humble, having patience and discipline.
Worst character fault for a trader?: Ego and stubbornness, if you can’t admit (and accept) losses in this profession then you are going to get wiped out quick.
Thoughts on High Frequency Trading?: High Frequency Trading reminds me of The Terminator and Skynet. It’s a war zone out there and it’s just getting started. Best thing to do is only trade the best setups and adjust to market changes.
What’s the biggest misunderstanding people have about what you do?: That we are just gamblers and do not provide any value to the community. If it wasn’t for us traders adding liquidity to the market we’d still be trading with 1/8 spreads!
If you weren’t a trader, what would you be?: If I wasn’t a trader then I would run my own global microfinance bank. It has to do with finance and helping people out at the same time.