Here at SteadyTrade, we like to interview successful traders from the community. It’s our way of offering inspiration for new and aspiring traders.
You can’t really copy successful traders to hit their marks — it just never really works out. You have to find your own strategies and path in the markets.
But you can always learn a lot from established traders. It’s part of how you discover different trading approaches. And you can use the successes and failures of more experienced traders to help you can shorten your learning curve.
Today, host Tim Bohen interviews up-and-coming trader Dom Mastromatteo.
Dom (@michaelgscott on Profit.ly) is still in his twenties — and killing it in the stock market. He’s only been trading for a few years but he’s already earned six figures in profits!
In the interview, Tim and Dom talk about all sorts of trading-related topics that you won’t want to miss, including why trading is superior to the traditional 9–5 job route, what kind of setups he looks for, the value in having trading buddies, and the importance of staying humble.
Psst: Love this interview? Check out SteadyTrade’s interview with another inspiring young trader (and Dom’s trading BFF), Jack Kellogg.
It all started when Dom was near the end of his college career. He knew he didn’t want to pursue a conventional 9–5 job … But as graduation drew closer, he didn’t see any other options.
That’s when inspiration struck. While Dom was watching YouTube to catch up on a class, something caught his eye. A Tim Sykes video popped up on his “watch next” list.
He took the clickbait and watched an interview with Sykes on The Steve Harvey Show. Before he knew it, Dom was down the penny stock wormhole with penny stocks. And that led him to decide that this was the thing to help him escape his 9–5 fate.
Total Trading Immersion
In 2016, Dom joined the Tim Sykes Trading Challenge.
A health issue forced Dom to take a break from school and just about everything. Suddenly, he had plenty of time on his hands … So he dove into his trading education, learning everything he could.
Hitting His Stride
After about 10 months of all-in studying for 12 to sometimes even 17 hours a day, things started to click for Dom.
Don’t have 10 spare months to totally devote to learning how to trade? Dom’s devotion isn’t necessarily standard. In the episode, Tim and Dom talk about smart approaches for traders who might have to learn on a more part-time basis.
Dom shares how he began to find patterns that worked for him and how he decided to focus on OTCs.
He spent a lot of time learning and not trading, but he was frustrated sitting by while others were getting rich on pot stocks. He still wasn’t earning anything.
The good part? Now, he was educated, and when the second wave of pot stock mania hit, he was ready. He explains how he started to execute successful trades and “making 500 dollars over and over and over.”
You’ll also learn what he cut out of his trading routine in favor of focusing on what worked to stay consistent!
In the interview, Dom Mastromatteo explains how his trading has progressed. Here are some key topics he and Tim hit:
- Getting over the PDT: Tune in to learn how can you do it while positioning yourself to continually improve your education?
- Growing pains: Dom talks about what happened when he got away from his sector and niche … and cautions about the dangers of complacency and too much confidence.
- OTC versus Nasdaq: There’s no winner, but some traders prefer one over the other.
- Midwest trading mecca: Did you know that Dom works out of a trading co-working space in the Midwest? Learn why trading with buddies can be a great approach for the long term and support!
What Say You?
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