No two trading stories are the same. But Tessa Lamping has quite an exceptional story. She’s an inspiring, ambitious, strong woman who’s making day trading work for her … All while working part-time … and as a single mom with a kid who’s currently teething!
It’s just the women today with Kim Ann Curtin conducting the interview … Tune in for Tessa’s unique take on life, trading, and getting ahead in a male-dominated sector.
Psst! Looking for more interviews with awesome women traders? Check out Episode 153 with Jane Gallina, aka Airplane Jane!
Tessa Lamping has always been highly driven. She graduated from college with her associate’s degree early. She worked in the corporate sector, and she was an international runway modeling … Did we mention she’s still just 24?
Her journey to day-trading actually started with the end of a relationship. That’s when she moved back in with her parents with her baby. Runway modeling was no longer an option, so she started looking for other avenues of income.
She dabbled in a few different fields before deciding to get her bachelor’s in information security … but she didn’t like it. So she got into forex and crypto, with mixed results.
Then, she came across an ad for Tim Sykes’ Trading Challenge.
Discovering Penny Stocks
Tessa really resonated with Tim Sykes — she found his no-BS approach refreshing. So she started watching his vast collection of YouTube videos.
Funds were low, but she started with some of Sykes’ programs. Though she wasn’t yet able to join the Challenge, Tim still took notice.
After giving birth, Tessa learned that she had cervical cancer. So she decided to put her recovery time to work by studying. She figured, “hopefully this can get taken care of because I need to be a millionaire.”
A photo of her studying in treatment went viral in the trading community, and it cemented Tessa’s resolve to find success in trading.
Paper Trading to IRL Trading
Tessa explains the progression of her trading career. That includes how she subscribed to StocksToTrade and began to learn the ropes through paper trading.
Paper trading can be a hot topic among traders — is it a good thing, or is it a crutch? Tessa found it was a great way for her to get her bearings.
She took it seriously. She’d wake up at 3:50 a.m. Pacific to study the market…
All said, Tessa paper traded for six months. And in that time she built a $2K virtual account into $5K.
Once the volatility from the coronavirus pandemic kicked in, she felt it was time to go live with her trading … New traders won’t want to miss her honest discussion of the growing pains that came with making that shift. Plus, she talks about how she’s learning her way through both wins and losses.
Don’t miss these lessons from a new trader! As Kim says, “These are small details that make a big difference.”
What Tessa Lamping Focuses On
Tessa has to keep her son’s sleep schedule in account, and she’s found that the best pattern for her right now is morning panics.
Dip buying morning panics works well if her kid sleeps in … But she’s quick to admit that if she tries to trade while tending to his needs, that’s usually when she makes mistakes.
She talks about some of the resources that have helped her the most, including:
- “How to Make Millions” — this Tim Sykes guide is more than 30 hours, but jam-packed with information. Tessa’s watched it at least four times!
- SEC Filings: Understanding SEC filings has also been hugely helpful in pointing Tessa to the most promising trades.
- “Trader Checklist” — this is another Sykes resource. This multi-part trading guide is one of Tessa’s favorite resources. Have you listened to the SteadyTrade series on the Trader Checklist? If not, start here.
- StocksToTrade platform: According to Tessa, having a powerful screener like STT has made a huge difference in her trading.
The Biggest Challenges Tessa Faces
Tessa opens up with Kim about her personal challenges with trading.
Many traders will be able to relate to her difficulties … like focusing on one setup and knowing what kind of position size to take.
She also honestly and clearly explains how she’s working on increasing wins and learning how to cut losses. And she’s developing her own set of rules through experience.
Learn about the trading break she took to get focused, how she realized her most compatible pattern to work with, and how she’s having more green days than red now!
Connect With Tessa Lamping
Curious About Something?
Curious about Tessa Lamping’s journey? Go ahead and ask!
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