Nine years ago, Teri Ijeoma began trading stocks and investing as a way to supplement her income. However, her success with this method grew, and in 2017 she quit her job and began traveling the world while trading.
She launched a business, TradeandTravel.com and now Teri’s efforts have led to her routinely making $1,000 a day or more by actively investing.
As she traveled, Teri started sharing what she knew with others, which led her to establish her Trade and Travel program. With it, she offers courses for those who want to make active trading a primary source of income.
In late February and early March, COVID-19 shook global stock markets and caused some of the worst stock performance since 1987. Recently, AskTheMoneyCoach.com interviewed Teri about her insights into this new stock market landscape, and how people can still come out on top as an investor.
Below are the biggest takeaways from the interview with Teri Ijeoma, as well as some helpful tips.
Disclaimer: While Teri has a lot of experience with stock market investing, the words below are her personal opinion. Everyone should do their own research and due diligence to be sure they are building the best stock market strategy for their specific situation.
The Stock Market is Rebounding – Invest Wisely
While the first stock dip after the coronavirus pandemic was a shock, as Teri has found, the stock market is gradually rebounding. As a result, she hasn’t altered her primary strategies and has advised her students that “even though things are bad, the market doesn’t stay down during bad times.” This looks to be the case, as the stock performance of many companies is improving.
However, Teri had some valuable advice for those who want to jump in right now:
“Be mindful that we are coming back towards our highs.” The low stock prices that occurred a week ago are rising. So, Teri advises that individuals who want to buy should avoid high-priced stocks and keep an eye out for lower prices.
This Isn’t Teri’s First Time Dealing with a Volatile Stock Market
In December 2018, Teri saw a 20 percent drop in U.S. stocks. However, in 2019, the stock market experienced intense growth throughout the year. This reason is why she advises people to be flexible.
“Be patient and let the price come to you,” is advice that has served Teri well as an active trader.
Which Sectors Are Showing the Most Growth and Promise?
Part of the challenge is picking the right companies and looking at the growth track of sectors as well as individual businesses. Teri’s experience with active trading led her to identify these industries as ones which show the most promise:
- The gaming industry
- Technology companies (Facebook, Netflix, Amazon, Google)
- Payment processors (Square, PayPal, Visa)
- Car part companies
Teri pointed out that “while these companies may have dropped with the market, their stock value is rising.”
Three Tips for Upgrading Trading from a Side Hustle to a Primary Source of Income
Teri began this journey as a side hustle. Eventually, she turned this into the primary source of income that has allowed her to travel the world. Here are the three main pillars she uses when advising her Trade and Travel students:
- Pick good companies
- Have a solid risk management plan
- Learn how to read company stock charts
Doing these three things — in combination with learning stock market terminology, using a stock market trader app (she and her students use TradeStation), and keeping an eye on news from sources like CNBC — can help you get started.
The Three Biggest Myths About the Stock Market
Teri’s work has allowed her to debunk three of the biggest myths associated with investing in the stock market:
Myth #1: It takes a lot of money to invest
Teri has seen individuals get started with as little as $500. She advises starting with what you have. According to her, “even investing $100 a day could generate $2,000 a month.”
Myth #2: Investing is a gamble
This is why the risk management plan is so important. As Teri found, this plan can help you decide on how much you are comfortable with losing in a worst-case scenario. Also, stock market research allows you to calculate risk and reward ahead of time. This preparation can give you the confidence you need to invest successfully and profitably.
Myth #3: Day trading is too time-consuming
As seen by Teri, those newer to active stock market investing may start at four hours a day, but the more comfortable one gets, the less time is required and one can decrease the amount of hours spent on research and charts.
Ultimately the goal is to trade on sound knowledge and not feelings. Teri advises that “you have to protect your risk or you will trade on emotion, and emotion doesn’t get you very far.”
The tips above can help you develop a plan to start actively investing and even grow it into a side hustle — or a full time gig, if you so desire.
For more information on Teri’s work, or to learn from a seasoned professional, check out iTradeandTravel.com, where she offers courses and additional resources for those who want to start active trading.
Sign-up for Teri Ijeoma’s Trade and Travel course
Sign-up for Teri Ijeoma’s VIP Investor program
Watch our video: Is Trading Stocks The New Side Hustle Your Missing Out On?