'Pennies: Going In Raw' Recap: ThiccTeddy Joins Dan Knight To Discuss Investing Tips

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For many of us we remember exactly why we got into trading. For the trader known as ThiccTeddy, it was a friend talking about trading barrels of crude oil as a commodity.

While he didn’t quite understand it completely, Teddy was intrigued by how his friend was making money trading commodities. On this mid-week edition of the “Pennies: Going In Raw” podcast, host Dan Knight sat down with Atlas Trading member “ThiccTeddy” to talk about how Teddy became interested in investing, what’s going on in the markets and more.

“A buddy and I were trading home and he was talking about some weird trading oil barrels thing that really doesn’t make sense now that I know what trading is really about… but the oil barrels got me looking at companies,” ThiccTeddy said.

From there, Teddy began paper trading to get a better understanding of the stock market. According to Teddy, he wasn’t very successful with paper trading.

“I think I blew up three [paper] accounts because there is no psychology to paper trading. I was doing the absolute wrong things,” Teddy said.

Despite his woes with paper trading, Teddy knew he was ready for the big leagues. He said he would read other’s due diligence on sites like Reddit and became more and more interested in researching on his own time.

Since trading with real money, Teddy has said he learned a lot. One particular learning moment was seeing the recent retail trader mantras of “diamond hands” and “hold the line.”

“The ‘Diamond Hands’ was what really got me, I thought those people needed to relax a little because a lot of people bought the top there,” Teddy said. “I don’t ever tell any of my followers to ‘Hold the line’ because if you want to sell when you’re up 500% stock… I’m the first one to sell if I’m up 10% on a stock.”

Teddy and Dan wrapped by talking about how they both are erring on the side of caution and keeping plenty of cash in their portfolios in case of another pullback, as well as one final tip for newer investors.

“Learn how the market works before you put all your money in,” Teddy said. “Manage your risk and Google shit.”

Benzinga is a sponsor of “Pennies: Going In Raw.”

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