The Successful Part-Time Trader (Part 1) | Podcast Episode #114

0:07
Hey, I’m Ryan Mallory and this is my Swing Trading the Stock Market podcast. I’m here to teach you how to trade in a complex ever-changing, world of Finance, learn what it means to, trace profitably, and consistently managing risk, avoiding the pitfalls of trading. And most importantly, to let those winners run wild, you can succeed at the stock market and I’m ready to show you how, hey, everybody, this is Ryan Mallory with Swing Trading the Stock Market, and I’m going to start a new series with you guys here.

0:34
I think the last time I did it, Series was a two-part series that was called the anatomy of a good trade setup is actually really good at really popular. This one, because I I’ve seen so much from you guys emails. A lot of you guys are part-time, Traders, your retail Traders. You’re trying to balance a regular job and you’re trying to be successful at the stock market to, I was there.

0:51
I did that. So I’m going to make a multi-episode series on the successful part-time Trader. Now I don’t know how many parts it’s going to be but I think I think I’ll be able to cover a lot of ground over a few episodes and I’m still going to do the emails. So keep on sitting. Emails and not really my goal is to ultimately get to every person’s email as long as I mean I get some people that trash man.

1:11
I don’t know why people take time out of their day to trash me. If I don’t like a person, I just move on some people. Go out of their way. They, they write these long, long emails to me and I’m like, wow, really getting under this person skin. But anyways, there’s so many of you guys out here that are listening to this podcast each and every week, listen to both episode.

1:29
Sometimes you guys go back and listen to like, over 100 episodes just to get caught up. And you don’t have to do that, to be able to listen to the most Current one but there’s a lot of really good information in my previous episode so I encourage you to do it. Actually, before I get started I’m excited to tell you guys about this new feature, that I’m going to roll out their new program and it’s one of those things where I’ve trying to think, okay?

1:50
How can I take the experience of the podcast that you guys really seem to like? I mean I’m so thankful that you guys listen to me each and every week. How can I take that experience and make it an everyday experience? Because a lot of you guys are trading, a lot of you guys need to research in the in. Mason that I’m spending countless hours really each day on and if I didn’t do that, the podcasts wouldn’t be as good.

2:11
The YouTube videos wouldn’t be as good. So it’s an essential aspect of not only my successful trade but be able to provide you guys with a quality podcast. So here’s the deal. I want to take that research and put it in your hands but I don’t want to do it in a way that breaks the bank. Because I mean I get it. There’s people out there that want to charge people thousands of dollars every month.

2:29
They price out everyday people, okay. I think in today’s day and age, it’s great to put information and trade. His hands without having to like break their budget. I mean I wouldn’t pay tens of thousands of dollars for somebody’s research, unless there was like a guarantee. And you know what, Tommy Boy says, right about guarantees. So while my podcast covers like countless strategies and seeks to answer your questions each week, I also want to provide you with real actionable information that you can use each day in the stock market.

2:54
So research that I do each week. I want to be able to provide that to you. These are my charts, my indicators, my watch list, both bullish and bearish updates on the most popular stocks in the Intriguing setup that I can come across each and every day. And I’m sure to as this grows, I’m going to continue to expand the offering.

3:11
There’s even an option to that if you want one-on-one coaching I’m going to provide that to you guys. I’ve already been doing that for a while now but I also want to make it available to you guys on here. So you’re going to have the choice of how much you want from me. If you want all the analysis and the charts that I provide on individual trades and my watch lists, then you’re going to want a higher tier through patreon, but if you are just here for the stock market updates or the technicals on the most popular stocks than you might want, Something in between there’s going to be four tiers.

3:38
Either way there is going to probably be something for you but again nothing’s going to change on the podcast. I’m going to keep this podcast going just like it is. I’m going to keep taking your emails and I’m going to keep making it to where each and every week you’re getting quality strategy analysis, getting your questions answered.

3:55
That’s what I want to keep providing you guys with first and foremost, this is extra if you want to take it to the next level, that’s awesome. All you have to do is go to swingtradingthestockmarket.com and will read Direct you to the my patreon page, and you can choose, which tier will work for you and it’s going to be cheap. It’s going to be a horrible.

4:10
All the planes. They range from like, $5 to $20 are not expensive. It’s pretty much like the price of a Netflix subscription and Netflix doesn’t help you like this does, right? So check it out. It helps me, it helps me continue to build upon this podcast to continue expanding its reach means a lot to me, that really does.

4:27
And by the way, I am drinking a good whiskey today. Today’s whiskey, I’m going to try this TX blended whiskey. Never had it before. It looks pretty good. That’s only 41 percent alcohol. I like a lot of my Bourbons like around like 48 to 50 percent. I tried Booker’s one time.

4:43
Holy cow. That’s like, 63 percent alcohol. I wasn’t sure if I was going to combust. I was actually scared drinking that stuff, but it also makes really good old Fashions Burgers. But it’s kind of a on the expensive side. I don’t want to like, do that for friends. If I was to make it for myself, that’d be one thing, but it does make a really good old-fashioned, but this TX whiskey.

5:00
It’s not a bourbon at least not that I can tell by on the bottle here. So let’s give it a try. Yeah, it’s pretty good. I like it. It’s got this like vanilla taste to it. It’s I’m not using any ice or anything. It’s just neat, but it’s really solid. I mean, it’s got like a it’s a very unique flavor.

5:16
I’m not against it. I kind of like it and it’s actually on the cheap side to. It’s only like 30, 30 something dollars, I believe. So this is like a good one too. If you’re going to have people over and they may not be able to handle a really strong flavor ticks whiskey. That’s not bad. Not, was it again? These aren’t these aren’t paid spots here.

5:32
Nobody’s asking me to talk about TX whiskey, I just tried it was wanted to see what I was like so it’s not too bad at all. All right, so the part-time Trader, the successful part-time, Trader, part, 1, We need to get into this. I started off as a part-time Trader. It was not easy because nobody was really helping me to do it.

5:48
I had to figure it out. All on my own there was really not a lot of resources out there either. They’re still really isn’t everybody just focuses on great. Stock picks, great stock picks, you buy this stock, you’re going to become a millionaire next week. That’s what a lot of people are focusing on, and it’s the wrong approach and its really a deceitful approach.

6:04
Instead, they need to be working On developing you as a Trader. That’s what I’m doing with this podcast. That’s what I seek to do. Want to develop you as a Trader, not had a lot of early struggles and one of them was is that I just really was trying to get rich quick, I was trying to get into these penny stocks. Yes. I have been trading since 11 years old but a lot of that was like investing but I was reading charts and everything.

6:24
But then there was like this Hiatus After High School, I went to college, I got into Corporate America started hating my job, and that’s what kind of brought me back into trading stocks. I was working in the defense industry. Hate it. Despised it first, I liked it. But then I started realizing how quickly you get thrown under the bus, as soon as you don’t do something.

6:42
Somebody once you to do it gets very political and it’s not like I was an insubordinate as a employee, I wasn’t. But there was times where I would have people in different departments. Asking me something that I couldn’t do. They didn’t like it. They didn’t understand why I couldn’t do it. I try to tell him why I couldn’t do it, still didn’t suffice.

7:05
So I get thrown under the bus and then you get these like, yearly reviews and they get to do a yearly reviews on you, and then you’re just getting likes, totally sabotage. It was very Isaac, the other thing that I didn’t like is, and I’m not trying to like real, I know a lot of you guys worked in Corporate America. Don hoping you guys are doing a great job and enjoying your job.

7:21
I’d that’s that’s one of the biggest things in life that you do is work. So you got to enjoy it, but I think people have different personality types and Corporate America was hard for me. I don’t think I was a bad employee. Well, after we do the finish this series, you may think that I’m a bad employee that, I guess that’s debatable, but I had a hard time with motivation.

7:43
I mean, like I remember my first year. I saved the company and I was doing X. And I remember, I made these people a lot of money in terms of negotiated savings, save the government a lot of money saved the company. A lot of money it was like, millions of dollars. Now was it like a Jerry Maguire where I was like you know, show me the money or anything like that but I kind of expected a decent raised and I think my raise that your was like I don’t know, I think I started off making like thirty three thousand dollars in Corporate America who wasn’t much and that was with a four-year degree and when I got my race I think it was only like eight hundred dollars or something like that.

8:03
It was like a 3% raise or not even a E, % race. I’m sticking my soul, all that money. I saved the company. I would have taken, I mean, it was in the millions, I would have taken point one percent of her, but not that they weren’t going to do that because they have all. And it’s not even really a knock against the manager that I had at the time.

8:19
She was a good manager, but it was really a knock at the system. It was so corporate eyes. There’s so much red tape. They couldn’t give raises even if I had been at this company and I cured cancer. Still a 3% race. Maybe I get a promotion out of it, who knows? I might not have been working long enough being.

8:35
It was only a year to get a promotion for curing cancer, but nonetheless, it was demoralizing, and then as it got like, political and people were throwing each other under the bus, I realize, look, I’m gonna go back to what I really enjoy doing. And I haven’t been doing it a long time and that was trading stocks.

8:57
I would get a couple of them that went way up. And that was exciting and I thought, okay, I’m going to make a career out of this. I’m going to do this 50 more times over the course of the next year once a week. And I’m going to make fifty or sixty percent on each one of these things. And I’m going to be a millionaire by the end of the year.

9:13
You create the spreadsheet, okay. If I make one percent every week, I think that’s pretty easy to do. I do this for the next five years, then I can quit my job, and I will retire, and I can live in Tahiti and it’s going to be a great time, but then we start realizing, hey, you know what, trading? It has a lot of back and forth, a lot of give and take you make two dollars.

9:29
You give up a dollar fifty of it and so those early struggles were very difficult for me. There were very difficult for me to get past because I was buying the penny stocks and then when I realized the penny stocks weren’t going to work and it was fun in the sense that when you bought a penny stock, you own like, 17 million shares in the company, and you’re like, yeah, I want about 17 million shares of this company.

9:47
Yeah, I’m a heavy investor and meanwhile you have like five hundred dollars in the company and it wasn’t, it wasn’t a big investment but it felt good at the cocktail parties to be able to say, hey I own about Seventeen million shares and that’s what a lot of people are getting worked up today and about Apple and Tesla.

10:03
Because of the splits, they can say, hey I own two and a half shares of Tesla, and before they were only like owning like a fractional share of like .5, so it’s kind of exciting to say that they own more than a half a share because who wants to go to a cocktail party and say, hey, we’re pretty heavy investor in Tesla. I have about a half a share going right now, in that company.

10:20
No, but if you can say I’m two and a half shares, And people who know, not really even two and a half shares really? I mean, the grand scheme of things. It’s like it’s like a drop in the ocean. It really is everything that I buy and sell. It’s a drop in the ocean. I mean, if I buy take a position and apple is a drop in the ocean, it’s literally nothing but penny stocks.

10:40
You can feel like you’re somebody when you can say, I own 17 million shares at point zero, zero zero. Zero zero, one cents per share, but then you’re never going to get that money back. It just It goes bankrupt. But that’s what a lot of people start off in the penny, stocks hoping to get rich quick and then they get a couple of good trades, maybe under their belt, and I think I can do this, and then they have that one trade that blows up on them and hear about even crazier in.

11:02
You will probably find this hilarious. I used to catch the falling knife on penny stocks. Yeah, that was a bad idea but wait for him to pull back like 60, 70 percent. After a big pop and then I try to play the bounce, sometimes they worked, sometimes it worked really good. Other times, it was an absolute train wreck and it was those times where I was a train wreck that it wipes me out because you can’t manage risk on penny stocks.

11:19
What are you gonna do? Put a Stop loss in of 40%? That’s basically what you have to do. I don’t even think it’s been so long since I’ve traded on over-the-counter. I mean, this is like decades ago. I don’t even think they let you use. Stop losses. Do they? I could be wrong on that, but I don’t think they do going to put an order in for 17 million shares of stock XYZ ABC.

11:38
It’s got like six letters to it. So I went from the penny stocks and then I started trading a lot of your small caps. I subscribe to if some newsletters, I was trying to learn this stuff, I think one of them was you’re going to die when you hear this but it was Jim Cramer. I think Jim Cramer had like a stock newsletter of like, stocks under $10.

11:54
Give it a shot and then I remember some of them was like Smith micro and there was this other one that started with an a was a utility company. I think it’s still trade is today. I can’t remember the name of it though. Right now. Anyways, I got destroyed on these things because I had him through earnings and I would actually be up going into earnings and then and I wasn’t following the market conditions.

12:13
I was I didn’t never knew what the S&P 500 was doing. I just cared about what my stock was doing. And so when it would go up, it would be great, and I never knew that sometimes it was going up. Because the market was going up, wasn’t because the company was necessarily great, but I would hold these things through earnings.

12:29
And then all of a sudden it would be down like, 20% of here. I am at work because I would work till 5:30 and the market was closing at 4:00 and then the earnings comes out right afterwards and I’m like down 20-30 percent and sometimes, you know, losing more money than I would make in a day at work.

12:39
So I like, man, this is really pointless. So I learned right there not to, not to trade in the penny stocks and what all this comes down to is the fact that I was trying to do this while working at a job and one of the Things. I mean, for all of you guys that are currently working or have worked, some of you guys might be retired and you don’t really care too much about it.

12:57
But nonetheless, I think it’s worth saying is that your bosses don’t like it. If you have interests outside of work, that is affecting you on the job. And so I remember a lot of times working. I would be like running out of meetings to get back into the office. Oh yeah. Like, like sprinting down the Halls.

13:14
No bite everybody. Just thought I was really passionate about my job, but I would like look at the earnings. I remember. I broke Mouse’s and stuff here. Like, what the hell is going on in this office? No, I was doing that. Oh, it’s so angry because like, I would be up, 15% in the stock and then it would drop 30% after hours.

13:30
And then also some down. And there’s nothing worse than watching it with green position, a very green position, go red. Also remember one time I bought a stock, it was a biotech stock and it went up 60%. And this is what I’m like. Still trying to find my place in the stock market, and one of my friends, he worked down the hall from he came in as like dude, I just made sixty percent on a stock and I so know.

13:50
Like no I’m not gonna do it I’m like Warren Buffett. I’m going to hold for the long term man, I sold that thing for a loss. It wasn’t a Time bet you that was like two or three hundred dollars that I put into the stock, and I think it went up like, like, literally, like 60% off of some FDA approval and even know there was an FDA approval happening.

14:07
I was trying to read balance sheets, like I knew what I was doing. I didn’t. But anyways, I just got lucky and then I didn’t sell it. I should have listened to that guy or at least taken half off, right? But you get, you get something that bounces like that on a trade or an investment.

14:28
Ain’t it may not ever get better than that but there was early struggles in my trading, there wasn’t podcasts, there wasn’t people that I could ask. How do you do this document? There was this one guy he was like on the verge of retirement, I think it worked at the company for like 40 years and I would I would bounce ideas off of him all the time.

14:45
And ask them what did you think of this stock, or what did you think about this investment? And he would actually give me some pretty good Insight, but he was still more of an investor than he was a traitor. So the swing trading, I wasn’t really sure what it was called at the time. I don’t even know if I knew it was called swing trading swing Trading Have been around but again I wasn’t very knowledgeable in that regard.

15:10
So what I was doing was basically created my own strategy. I was using the tape reading from back when I was like a kid following the stock market, getting more educated learning about Japanese Candlestick charts and it was helping me quite a bit to be able to do this on, more of a permanent basis.

15:26
But one of the big things was a starting in penny stocks, totally unnecessary didn’t need to do that. The other was trying to play the earnings, not going to be able to do good at that. Nobody can I know A lot of people have play it, but very rarely. Do you see a retailer that that knows how to play earnings. I don’t know how to play earnings.

15:47
That’s why I don’t play. If I knew how to play them and make money off of them, I would do it. But I don’t, I think next to penny stocks earnings is one of the craziest things to do unless you’re holding for the long-term that’s one thing. Like if you’re saying okay I’m buying Apple for the next 20 years. Of course you’re gonna have to hold through earnings but one of those difficult things, when it comes to part-time trading, is the hours that you have to spend outside of work, doing your research, doing your watch lists.

16:03
And that’s why I started this program through patreon on swingtradingthestockmarket.com that allows you to be able to benefit from my research because I’m doing this stuff all day. I do it on the weekends to I’m kind of like a degenerate in that regard. I don’t really take too many breaks. I enjoy, what I’m doing not worried about getting burned out because I love my job.

16:20
I love my work fact, doing this podcast on a weekend. I got coach football on right now and I’m not watching it. It’s on, it’s on mute, but the long nights are difficult. So again, check out swingtradingthestockmarket.com, all one word obviously because you can’t have a space in a domain name, but go check it out.

16:46
You’ll See, there’s four different tiers. Find out what little research would work for you. But nonetheless, this isn’t all about plugging. This new opportunity, it’s also about trying to provide some actionable tips, so you’re not going to be good. This is this is a couple of things that I will leave you with, on this particular episode starting off one, just because you might not like your job and just because you might like trading better, does it mean that you neglect your duties at work?

17:09
That’s one of the biggest problems that people run into. They get so engrossed in the stock market. That they start, neglecting their duties. There was times where I was not a very good employee where I was barely working, probably, or if I was working the quality of work, wasn’t really that good, but you got to make sure that you remain a very dedicated employee and that you get your job done first and foremost, because if you’re not doing that, you’re not going to be a part-time Trader either.

17:32
You’re going to be a full-time Trader much sooner than you want to be. And yes, I do think that you can become a full-time Trader from for part-time trading. I did that, it took a little bit of a, more of a unique route. I started SharePlanner but But I actually think that helped me in the long run because it required me to do so much more research and provide, so much more content that directly helped me in my trading, but you have to balance it with your, your job with your employer.

17:48
You don’t want him to think that you’re only coming to work to trade stocks because if you do that, you’re going to have the ultimatum of stop trading or you’re fired. And you don’t want that, you want to continue to be dedicated to your work but as it pertains to trading, yes, it’s going to be hard doing part-time trading and being a good employee.

18:05
Like I kid, you not my Every day between 9:00 to 10:00 10:30 was blocked out. On my calendar Monday through Friday and also from 3:00 to 4:00 p.m. because that’s when it was the most volatile in the market, I really didn’t want people to be scheduling meetings during those time.

18:20
So I’d always try to act like I had like, without them being able to see my calendar, I had an ongoing meeting during that time did. I mean, I was just like sitting there at my desk trading the whole time. No, but I had multiple monitors in my office and so I always had the stock market up, but I wanted to see what was being able to go.

18:44
Because there’s nothing worse than being in a meeting and all of a sudden the stock market running against you. I’m not saying that’s the right thing for you to do but for me it kind of worked. I mean not a ton of people were wanting me and meetings. I get you know, invited these pointless meetings.

18:44
But now with the technology with the iPhones, and with everything else that’s going on with your watches and and all there’s, there’s more technology out there for you to be able to be more flexible in your part time trading.

19:06
Because before I couldn’t just, you know, use my phone and buy some stocks, or sell some stocks or whatever. Now, you can get a It’s you get push notifications. I mean, that’s all really good and things that you have to use. Use the alerts rely on those push notifications. And also your cell phone is great because you’re not using company resources to be able to trade stocks if you’re not allowed to but again and I don’t want this episode to go on for too long.

19:26
Part-time trains, very difficult, but it’s going to be even more difficult for if you don’t balance it correctly, with the workload at your job, with being able to trade in the stock market. Because if you create a imbalance where you’re only focused on the stock market, you’re in, Boyeur your boss.

19:26
He’s going to come over to your office and he’s going to make sure you get back in balance and it’s probably not going to be the balance that you wanted.

19:26
You probably going to be a have to stop trading. And next week, I’m going to talk about some of the long nights feeling overwhelmed, doing part-time trading and working a full-time job because it is, it’s very difficult. And I’ll give you some more strategies about how I dealt with meetings and the ways you can go about.

19:45
Being an efficient successful part-time Trader, while being a full-time employee that’s going to do it for today.

19:45
Make sure again, check out swingtradingthestockmarket.com, it will reroute you to Patreon.com slash swing trading, I just created that domain so that it was easier to say because patreon, it’s not spelled the way you would think but it’s a very popular website, but it provides just a really great platform for me to get my information out to you.

20:03
So, try it out. See which tier works for you. If you have any questions, feel free to email me ryan@shareplanner.com of hearing from you guys. Make sure you to keep send me your emails. Also will be continuing to do my episodes next week as well on your emails, your stories and your questions of keep them.

20:20
Coming. Thank you guys. God bless. Thanks for listening to my podcast. Swing trading the stock market.

20:20
I like to encourage you to join me and the SharePlanner Trading Block, where I navigate the stock market. Each day with Traders from around the world with your membership. You will get a 7 day trial and access to my trading room including alerts via text email and WhatsApp.

20:40
So go ahead sign up by going to shareplanner.com trading block, that’s www.shareplanner.com/trading-block and follow me on SharePlanner’s, Twitter, Instagram and Facebook. Where I provide unique market and trading information. Every day you have any questions, please feel free to email me at ryan@shareplanner.com all the best to you and I look forward to trading with you soon.