Inside TradeZero with Mike Haupt

Inside TradeZero??

Meet the people behind TradeZero, gain insight into the latest industry happenings and learn how we create our products and services with a customer-first focus.??

Today's Q & A is with Mike Haupt, CEO of TradeZero America?

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How did you become involved in trading equities??

Some would say trading is in my blood.?My great grandfather had his own brokerage firm, my grandfather and father were specialists on the floor of the New York Stock Exchange and my older brother went west and traded in the pits in Chicago, so, I guess it was inevitable that I follow in their footsteps and become involved in trading. I started my career on the Floor of the New York Stock Exchange and became a specialist making markets like my father and grandfather. I then became a Sales Trader, trading equities for Pension Funds, Hedge Funds, and Investment Advisors. Being involved in the evolution of electronic trading from the beginning, it was a natural fit offering the retail trader the tools the institutional trader has had for many years.??????

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What makes TradeZero stand out amongst the other broker dealers that cater to short term trading??

TradeZero prides itself on its client service team.?We may be a fintech broker dealer, but our clients can reach us directly 24/7, and most importantly, can reach a registered broker.? Whether it is setting up a one-on-one session to go over the bells and whistles of ZeroPro, our premiere trading platform, or updating an account, TradeZero has the staff to facilitate a one-on-one personal experience.? TradeZero also is indifferent if you want to trade on the long side or the short side.?TradeZero has a unique product on all our trading platforms to assist clients in finding locate required or pre-borrow stocks.?That means, large cap, mid cap, small cap, whatever you want to trade, long or short, TradeZero makes it possible.??

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What advice can you give the retail community if they want to enter the world of day trading/swing trading??

Short term trading is not easy. Those that succeed are the ones that avoid runaway losses and are disciplined. Like anything you do that you would like to be paid for, you must treat it as a business.?You wake up, shower, dress, and go to your office.?With day trading, your office may be in your house or apartment. The more you do towards knowing your business, the better chance you will have to be successful.???

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How should a novice trader introduce themselves to day trading??

The key with starting anything new is to do your research.?The more you understand the fundamentals and technicals in the market the better you have a chance of coming out ahead. You should also make sure you understand all the order types that you can use when trading. Especially orders that will cut losses and lock in profits.? TradeZero has a demo which can help novice traders familiarize themselves with the platform, we also offer one on one tutorials, webinars plus a supply of video content.?One thing to try and avoid is all the get rich content on the web.?Stay alert, be well educated, and understand the product.???

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Why is trading on the short side considered riskier than trading from the long side??

When you are long, that is you own the stock, what is the ultimate support level?? Unfortunately, I have experienced this with a stock I once owned many years ago.?The ultimate support level is zero.?I considered this loss tuition to understand that stocks can actually go to zero.?When shorting a stock, that is selling something you do not own, the ultimate support level is infinity.?The stock can go to the moon.?It doesn’t matter what the news is or the lack of news.? Shorting stock has unlimited loss potential.?This is why trading on the short side takes discipline.?Without discipline, the potential for disaster increases.?????

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