MALLORCA, Spain, Jan. 26, 2021 /PRNewswire/ — With over 35 years of trading experience, Self Made Multi-Millionaire and New York Times Bestselling author of “The Millionaire Dropout,” Vince Stanzione, has plenty of trading war stories to share, but today is coming out in support of smaller traders and resents that Wall Street is calling them “dumb money.”
It has long been overdue Wall Street has treated Retail as dumb money for so long, yet today’s “dumb money” is far smarter than it was in the 2000 DOT COM boom and is far better equipped with access to institutional data. The only issue he sees is that many brokers cannot cope with the surge in volume, and platforms are seeing regular crashes which makes exiting trades difficult.
Stanzione thinks what you’re seeing in markets now is not just about money. It’s a deep routed resentment against Wall Street, financial media and the belittling of the retail trader with their preaching of knowing better. Of course, the best way to teach Wall Street institutions a lesson is by making them lose money. Stocks with high short interest and low floats seem to be the easy target right now, but this could easily change to overvalued stocks where retail “short” stocks.
As he approaches 52, Stanzione would tell the next generation to shoot for the stars but also keep one foot on the ground. Take some of your profits and lock it out of sight. He is a big fan of holding Bitcoin (with no leverage) as a long-term savings plan as he believe it will protect you from inflation which he says is running at 15%+ a year, not what the government tells you and all FIAT currencies are debasing to near zero.
As for trading, yes, it’s a very speculative bull market but a good trader can also make money in a bear market, so be ready to switch to short trades, put options or learn to use financial futures. Stocks take the escalator up and the elevator down so have exit plans and also have plans to profit from down markets.
For a disciplined retail trader, you have never had it so good and it’s the Wall Street institutions that are now the “dumb money.”
About
Vince Stanzione has been trading markets for over 35 years and is a self-made multi-millionaire. He is the New York Times bestselling author of “The Millionaire Dropout” and is the author of “Making Money from Financial Spread Trading.” He has been featured favourably and quoted in over 200 newspapers, media outlets and websites including CNBC, Yahoo Finance, MarketWatch, Reuters.com, Independent, Sunday Independent, Observer, Guardian, The Times, Sunday Times, Daily Express, What Investment, Growth Company Investor, New York Times, Bullbearings, City Magazine, Canary Wharf, Institutional Investor China and Shares Magazine.
He mainly lives on the island of Mallorca, Spain and trades financial markets including currencies, stocks, commodities and cryptocurrencies. For more information, visit www.fintrader.net and follow him on Twitter: @vince_stanzione
Contact:
Vince Stanzione: +34 871 153 645
290038@email4pr.com
SOURCE Vince Stanzione
