Novice traders aren't planning 'an exit on the top side' of retail stocks: Analy...
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Novice traders aren't planning 'an exit on the top side' of retail stocks
Novice traders aren't planning 'an exit on the top side' of retail stocks: Analyst
Trade and Travel Founder Teri Ijeoma joins Yahoo Finance Live to discuss how novice traders should approach the stock market, retail stocks, and the top mistakes that investors make.
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Novice traders aren't planning 'an exit on the top side' of retail stocks: Analyst
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Trade and Travel Founder Teri Ijeoma joins Yahoo Finance Live to discuss how novice traders should approach the stock market, retail stocks, and the top mistakes that investors make.
Video Transcript
RACHELLE AKUFFO: Welcome back. Moderna is asking the Food and Drug Administration to sign off on its updated COVID booster shot. The reformulated booster shot is targeted at the BA.5 Omicron subvariant, which is currently the dominant strain in the US. Now Pfizer made a similar request for authorization of its version of the COVID booster yesterday. The Biden administration is planning to roll out the modified booster shots in the fall.
All right, well, there are a lot of retail investors who started trading during the pandemic when the market was red hot. But now that things have cooled off, how are they adapting? We have Teri Ijeoma with us today, an experienced trader who has taught hundreds of students around the world how to make money in the market with her platform, Trade and Travel. Teri, good to see you. So I want to first ask you about some of the mistakes. You listed a couple of mistakes that some retail traders tend to make. Walk us through a few of those.
TERI IJEOMA: Oh, goodness. Thank you-- first, thank you all for having me back again. But the first one is very emotional. It comes from fear of missing out and it's getting in at the highs. Oftentimes, traders will watch the stock market go up and up and up. And as soon as they want to get in, that's when it's about to fall again. So the first one, fear of getting in-- or getting in at the highs.
DAVE BRIGGS: And the next one is quantity size too high. Tell us about that.
TERI IJEOMA: Yes, so another thing is once they get in at the highs, they're overconfident. So then they get a lot of shares, a huge quantity size because they think, as soon as I get into this one, I'm going to make it big. But the problem with that is oftentimes, their risk is way too high. So I encourage people, instead of just thinking how much money do I have, and then basing your quantity size on, well, the maximum number I can get, think about if there is risk in this trade for me to lose, take my money divided by my risk, and that's my quantity size. So it's usually a bit smaller than just using all the money in your account.
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