A Trader's Journey Part II: Charles Harris | Take notes from transcript

Here is the link.  

17:38

letting the results take care of themselves 2019 turned out to be a

17:44

pretty good year for me that non- margin Roth count was up

17:51

71% I made 332 trades my hit rate was

17:57

69% and my my average holding period was nine trading days now in addition to my wroth I

18:04

decided at that time to refund my margin account with a small amount of money just

18:10

$35,000 it had been years since I traded a taxable account it's hard to build

18:16

wealth when you're splitting the profits with Uncle Sam at the end of each year but I came to terms with that I felt

18:23

that the ability to use margin would provide the opportunity to rebuild faster

18:29

my margin account was up 233% in 2019 I made 238 trades my hit rate was

18:38

68% and my average holding period was also nine trading days there really weren't any huge

18:45

standout stocks twio zscaler Koopa software pindu Doo were a few of my most

18:53

profitable trades and I came back to those stocks again and again I was just

18:58

is consistently locking in small fast gains ranging from the high single digits to around 20

19:05

25% and there were few outliers in the 50% range I I had gone back to my early

19:11

swing trading days taking fast profits and trying to compound my account as

19:16

Summary starting from 17:51 

2019 

1. Margin roth: 71%
2. 332 trades
3. Hit Rate: 69%
4. Holding period: average 9 days
5. Margin account: $35,000 US dollars  233%, 238 trades
6. Twillo, ZS, Coupa, PDD stocks

2020 

1. 11400% return, 114 times, my estiated calculation: 3.5 x 114 = around 350 million dollars
2. 14% swing trade, 84% -> TSLA -> TSLA up 700%
3. All cash at last day of 2020
4. Estimated 10 years, but actually took 2 years. Lost 80% gain from last 10 years before 2018, divorce
5. 21:59 Roth account 400%
6. hit rate 70%
7. TSLA long term hybrid conviction

2020 - 2021

1. Bought a house - a few million dolllars, same amount for redecorating 
2. Roth account, 13 times more
3. Optimism: 2 - 3 years, 9 figure, 1,000,000,000 
4. 20:59 
5. Nov 2021, market downtown started 
6. NSADAQ 38% down
7. SHOP 87% down
8. NFLX 77% down
9. NVDA 69% down
10. ZOOM 90% down
11. Meta 77% down

31:25 

1. Recall APPLE, 62% down around 2008, but a big rebound after 2008 

2022

1. No contingency plan
2. 50% down, wipe out the account - if there is margin on the account 
3. 2022, 115,000 shares of TSLA
4. Add funds, markgin calls - option hedge, buy put options 
5. Margin interest, six figures
6. Defensive measures
7. Wiped out the account