Tom Sosnoff, founder of tastytrade, said that he had gotten a lot of feedback about the "Rising Star" segment. The viewers said they wanted to hear from someone with a full-time job who could share their story as someone who could trade frequently, while still grinding at a 9-5 gig. 

Enter Joey G. from Jersey, who began his options trading journey just a couple of years ago. We were able to talk to him after his segment on the tastytrade network for an 'extended cut' on the blog.

Read on to see the most helpful bits and watch the full segment below:

Q: What stocks do you trade? 

WFM, AAPL, MCD, DD...I go for more high qualities (bigger company names) that tend to be more stable. I use a laddering approach, where I put on trades with multiple strikes over multiple months.

Q: How do you know the right time to exit a trade?

If I have a big duration, 45-50 DTE [days til expiration], and it goes to 25-30% max profit, I’ll close the trade. And then I’ll reinitiate the position, so I’m not holding that money. If it’s closer to expiration, maybe 15 days, and it’s at 25-30% max profit, I’ll get out of the trade.

Q: What do you consider when opening a position?

I’ll say to myself, “I feel good about it.” My source of selection is the notable stocks page on the dough platform. I tend not to trade ETFs. I had a trade in USO, and it didn’t go well for me.

Q: At what point did you have the lightbulb moment of, ‘I get options trading?

I was managing a loser. I tried to save it and then I rolled it. It was a $600 loss on an energy stock. At that moment, even though I lost money, I felt good...because I learned it and it all clicked: You’ve gotta manage winners.

Q: What was the most helpful video/series for you on tastytrade?

Where Do I Start and The Webinar are both awesome. Ryan is very articulate and has a good understanding of what his audience needs. And Beef [Mike Hart on the research team] is so good with breaking down his knowledge. I also like Katie and Tony’s show too, Back to Cool.

Q: You mentioned you have a full-time gig, but you really value gaining market awareness...what do you do to cultivate that??

I look at the futures in the morning. I google individual symbols. I also look at the NASDAQ, and the pre-markets…It’s also important to know when the earnings are for different stocks too.

Q: Do you have any advice for traders?

Stay committed. It takes time to develop this craft. I first started trading two years ago. Every year, my family and I play roulette with fake money, and I’ve noticed how much I’ve improved with that over the years. So, trading enhances your awareness and day-to-day decision making...even for everyday non-trading decisions. For instance, if there’s traffic, should I re-route, or would that create more stress for me? So it changes your perspective on life and making sound decisions.

Also, I think people my age (mid-to-late 50s) should take a look at considering options trading, because it makes them more aware of the market. You’re controlling your own financial destiny. At 59 and a half, a lot of us will have [a lot of money in our] 401Ks, and the average employee doesn’t know that at 59 and a half, you can roll your 401K into an account for no fee, which would increase your buying power when trading.

So you should definitely be aware of the rules on your accounts...401K’s, IRA’s, mutual funds...all of them.

Watch Joey G's Rising Star segment below:


What did you think of Joey G's segment? If you have questions or comments, leave them below!