#YoungInvChat is a live Twitter chat which happens every Tuesday or Thursday at 10:15pm GMT. We interview young investors and stock traders on Twitter while permitting new investors and millennials to ask these investors any question they have about investing. We also engage in discussions about the stock market and investing with youths all-over the world through our #YoungInvChat platform.

Max Ganik is not your average 19year old. He has being featured on Bloomberg TV, Cnbc, and NYTimes. The options and stock trader is a contributor for SeekingAlpha and TalkMarkets. He was the first highschool member of the New York Society of Security Analysts. Max Ganik is the founder of Ganik Financials and TopStreetPicks.com. Mr. Ganik is also host of Diamond+ service with Option Millionaires where he interned. Below is the interview that took place in #YoungInvChat live on Twitter on July 14th, 2016:

YIC: Max Ganik, thank you for taking this time out to enlighten new and potential traders and investors.

MG: Glad to be here and help out new traders and investors with their questions.

YIC: What got you interested in the stock market?

MG: Shown basics at young age. Enjoyed analyzing companies and charts, & seeing hard work pay off in form of returns.

YIC: Is Mathematics expertise a necessity to be a stock trader?

MG: No, analyzing charts every day, paying attention to market sentiment and price action and understanding basic technicals.

YIC: In your opinion, is stock trading a risky business?

MG: Very risky, without patience and discipline, one can go broke. Keeping emotions in check and defining risk is hard for many.

YIC: When is the best time to buy a stock?

MG: For me, when there is a technical reversal off of a candle stick pattern or a momentum shift, offers great returns.

YIC: Is there any guarantee as to how a stock will perform?

MG: There is never a guarantee that is why it’s important to keep stops in place to limit losses always another trade.

YIC: Do you believe historic charts and trends can determine how a stock performs in the future?

MG: Think it is useful, it can give you clues to breakouts/breakdown, I tend to use at most 1year charts for trading.

YIC: What one stock would you want to buy and hold forever?

MG: It would be S&P 500, safe/reliable, in my opinion, times change and there is no individual stock I would want to hold forever.

YIC: What’s your favorite business quote?

MG: “I would tell you how to become rich. Be fearful when others are greedy. Be greedy when others are fearful.” –Warren Buffett.

YIC: What’s your investment strategy?

MG: Short term options trading, trade based on candlestick patterns and price action, trade in and out within days.

YIC: Who is your favorite stock trader and why?

MG: Carl Icahn because he has made many contrarian calls like Netflix (NASDAQ: NFLX) and proven he is willing to take risks.

YIC: In your opinion, what industry generates the most returns?

MG: I believe given the 2/20 rule, when successful, hedge funds are the most lucrative.

YIC: Will you rule out becoming an activist investor in your future?

MG: I want to be involved in investments and trading, haven’t decided which area but haven’t ruled anything out.

YIC: What industry do you avoid trading?

MG: I have not traded bonds, but just because I am not well versed. Open to it in the future.

YIC: What will you want to be remembered for when you are no longer on earth?

MG: I hope to one day be well off enough to be a philanthropist and use my success to make a difference in the world.

YIC: If money never existed, what career would you choose?

MG: I always wanted to be a police officer.

YIC: Final question: What’s your worst mistake as a stock trader and what’s your advice to new investors?

MG: Was betting too much on a binary event.

Never put too much on one trade, it will never work out like you want.

YIC: Thanks to everyone for joining #YoungInvChat tonight, it was never a waste of time. Max Ganik, thanks for blessing us with insightful teachings.

MG: Thank you for having me!

Published by Mawunyo Adjei