Below is an interview I conducted with day trader Steve Primo
. Be sure to check out our free course from Primo
Key points from the interview:
1. Primo has been trading for 36+ years; he got started as a specialist on the now defunct Pacific Stock Exchange.
2. At first the adjustment to trading off the floor and without the sound of traders was a bit of a challenge, but now he believes he can get better information easier and less expensive than before. As such, he believes electronic trading has made it easier than trading was before.
3. Primo spends about 2 hours per day focused on the markets (typically the open hours of the session), placing between 2 and 5 trades per day.
4. He has a very simple setup: just one screen and a regular laptop.
4. Trades primarily off the tick chart, looking at 1,000 tick history. Typically in trades for no more than 15 minutes. When day trading, he trades just one position at a time.
5. "Good trading is boring."
6. Traders bring their own psychology to the market. A positive attitude that embraces and enjoys life will help traders find the easiest and most lucrative path to success.
7. He states that while it varies greatly from student to student based on their commitment level and their psychology, he believes it is reasonable for his students to reach consistent profitability within 4 months.
If you enjoyed this interview, you may also like our other interviews
, as well as the page in our University on Profiles of Winning Traders
To visit Primo's web site, click here