Pirouz Hendi, stocks strategist for HFT Stocks & Options, shares 3 main factors for learning stock trading well. You don’t have unlimited time and you definitely don’t have unlimited money to make every mistake in the stock market just to learn on your own. And who wouldn’t want to be able to consistently make money right away? Pirouz says it’s first and foremost about knowing what you’re comfortable doing, then building a support network around your focus. MarketHeist’s Jeffrey Lin interviews Pirouz Hendi, Stocks Strategist for Hamzei Analytics’ HFT Stocks & Options.
Pirouz: I think that for of first you've got to find your own interest and passion in the financial industry there is so many tools out there that you can utilize a to find your own niche. I've always at had a passion for stocks. I'm venturing out into options and trying to learn as much as I can because it's another area that I have a great interested in. But i think the most important thing is to be honest with yourself and realize what your true interest is. And become a student and find a mentor get you feel matches your style as far as character and style of trading goes so you
can basically educate yourself through their process and then as you get more experienced just add your own specifics that you feel comfortable with.
Because trading is not an art and it's not a science. It's a combination of both. You're a conservative person you cannot do aggressive trades. It's not a complete silence either because then some really smart people will be the most successful traders. It's a combination of both and I think you would basically I've bring your own character personality into the trade you do and as long as you're comfortable with that then you identify the people that are in that that similar level and you have to basically educate yourself.
The rest is honestly your own personal experience in the market and nothing is more valuable than losing personal money in the markets to get the best experience. I don't know how many books you've read. I don't care what kind of software you have. I don't care who told you what. Once you go into the battle and you lose your own money, that is the most valuable experience you can have. And it will definitely be something you remember.
Jeffrey: So speaking out education and having good training, I want to ask you about the HFT Stocks and Options service that you're a part of now. How are you trying to
(1) have your trading strategies be something people can learn from and
(2) have else are you trying to guide people so that they could at least pay less tuition then they probably would
Pirouz: I think one thing that I want to focus is that we worked as a team, which makes it very very valuable because when you work as a team you've got more eyes on the ball. Every person brings their own experience. They bring their own knowledge. We all learn from each other. It's not whether i'm trying to teach. Maybe I'm trying to learn as much as I can from other team members that bring their own experience. What we do is we basically if we put a trade, we try to provide the rationale behind a trade. Not just throw name and a numbered and say, oh okay, I'm going long or I'm going short.
Jeffrey: And help you have a plan to get in and out because you're in it with the users in the room, correct?
Pirouz: Exactly. So what we do we post it in the chat room, it is posted on twitter and also it is on the screen there, so they can see the actual trades where our targets are, where our stops are, what our entry levels are.
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ABOUT PIROUZ HENDI
Pirouz Hendi graduated from California State University Fullerton with a BA in Business Marketing. Pirouz started his career in the financial industry at Prudential Securities in 1999 as a licensed Stock broker after successfully completing series 7, 63 and 67 securities exam up until 2003. Pirouz has been an independent trader in the equities market since 2007 with primary focus on individual stocks and ETFs. Pirouz has successfully completed the beginner level of CBOE option courses and is planning on completing their intermediate and advanced level courses as well.