Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The Reddit guy who won $ 100,000 with 2 deals credits his parents, likes tech stocks and says the "hardest part" is paying out money

The Reddit guy who won $ 100,000 with 2 deals credits his parents, likes tech stocks and says the "hardest part" is paying out money

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  • A Reddit guy who raked in over $ 100,000 in two deals told Markets Insider that he credits his parents for his success, he likes technical stock up and find it. it's hard to get away with your profits.
  • Eddie Choi, a 25-year-old business analyst in San Diego, turned $ 766 into nearly $ 108,000 by buying shares in Roku and SPY – the S&P 500 stock exchange ̵
    1; then making huge profits when they fell, Bloomberg reported.
  • Choi learned how to trade WallStreetBets options, a subreddit labeled "Like 4chan Finds a Bloomberg Terminal."
  • Visit the Business Insider homepage for more stories.

Geek Reddit, which raked in more than $ 100,000 in two deals, told Markets Insider that it credits its parents for its success, likes tech stocks, and has a hard time getting away with its profits.

Eddie Choi, a 25-year-old business analyst in San Diego, made a splash when Bloomberg announced that he had turned $ 766 into nearly $ 108,000 by buying shares in Roku and SPY – the S&P 500 stockbroker – then profits very much when they fell.

Choi learned how to trade WallStreetBets options, labeled "As 4chan Finds a Bloomberg Terminal."

Markets Insider asked Choi about its origins, investment strategy, future plans and other topics. His answers have been slightly edited and are set out below. He told us that he worked at a small bank as a business analyst, and refused to provide a picture or indicate his place of employment.

Who are you?

I'm Eddie Choi and I'm 25 years old. I currently live in San Diego and work with a bank. I grew up with two immigrant parents from Korea, so they had to raise my older brother and me while learning a new culture and language in America.

I acknowledge much of my success and who I am for them, because they had to work extremely hard to make sure our family was in a good place financially, emotionally and physically. Because of how hard they worked, our family is in a good place and my brother and I have an incredible opportunity to succeed in America.

My parents always told me to dream big and never to settle and that's the mentality I've always had.

How did you complete the trading options?

I'm inclined to like risk and enjoy learning about higher risk investments and higher returns, so I initially learned about the options.

I heard about options from WallStreetBets and from friends and learned more about how they work by researching it myself. I have tried many things that involve risk, such as cryptocurrency trading, daily stock trading and casino gambling.

What made you think Roku and Spy would be good investments?

Roku raised from $ 25 to $ 170 in about 8 months, between late December and early September. It started to fall and didn't really recover. I saw so many stocks fall a lot after insane amounts rose in a short time, so I bet Rock would fall a lot in the near future.

I still believed in Rock in the long run, so it was just a short-term thing. I invested about $ 800 and frankly I expected to lose it, but I knew there was a chance of hitting it big.

Fortunately, the next day, Roku dropped about 20%, which is insane for stocks with this visor cap. To show you how much I won, an option I bought for $ 11 costs $ 1,350. I had quite a handful of options that went up so much for Roku.

SPY wasn't that crazy. I only won 100%, while for Rock I won 65 times. In general, I just keep an eye on the SPY market, but trading it daily is really risky because a news crash can dive in or raise SPY enough to strongly influence short-term spy options. There was bad news the day I bought the spyware, so I tried it out and sold it shortly after.

Were you worried about the risk you take with these deals?

I wasn't as worried about my Roku trade as it was only about $ 800, but there was more money involved in trading SPY, so I was more worried about it. I realize that there will always be a risk of investment, so I understand and accept that there is a risk of losing money.

What do you attribute your success to?

I definitely did my research, but with such a short-term options trading, it's definitely luck and time. Any news can cause the stock to go up or down from one day to the next, as long as there is more time to retreat when you invest longer.

What did you learn from your trading success? [19659028] I learned that you should be able to take your profits. It is tempting to continue trading when you have such a successful trade, but I had to understand that it is as easy to lose money as it is to earn money.

It is also important not to trade emotionally. If you are too emotional about the outcome of a deal, it is probably best to take a break and come back when you have a clearer mind.

What advice would you give to other aspiring investors?

The number one thing I want people to realize is that not everyone will win when it comes to risky investments as options and that there is a big risk.

I think some people may not be aware of the risk and may think that it is common for people to make a lot of money when they read articles or see stories of people who make huge investments as options. But when dealing with weekly options, you need to realize that you are likely to lose all your money invested in the weekly option.

I would also tell ambitious investors to do their own research. It can be tempting to go to forums or read posts from others, but I invest based on what I consider to be a good investment. I'm obviously going to read from others, but I try not to invest solely on what another person says. The best way to be a great investor is to learn your profits and profits.

What was the hardest part about trading?

The hardest part was definitely getting away with my winnings. In the end, I missed $ 70,000, but I was tempted to continue investing in options with that amount, but I had to tell myself that it is probably best to take profits for now.

What else is on your watchlist? Several other stocks and indexes have caught your eye recently?

I follow a lot of technology stocks. I like them because they have high market restrictions, but they are also volatile, so they are great for trading, but the risk is also higher for them.

How do you plan to use your winnings?

I'm not sure how I'm going to use my profits right now. I'm not doing anything with them, but maybe I'll use them to buy a property or something in the future.

Are you planning on going back to trading options or quitting while you're ahead?

I'll definitely be trading options again. I decided to take a break for now because I used so much time to keep up with the market daily, but I have plans to go back and trade options in the future.

I want to continue investing for the rest of my life. I will definitely handle the risk as I grow old and have a family, but I personally believe that investing is a good learning tool and I am also happy to learn about it.

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