Fox on Stocks Still Crushing, No Top (yet) [VIDEO]

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Fox on Stocks Still Crushing, No Top (yet) [VIDEO]

Sixteen year old actress, Rachel Fox, explains how she became interested in stock trading and provides a few of her favorite picks. She is still beating the market so we prematurely called the top, however, be careful out there!’

Video and transcript below


she played felicity huffman’s daughters in desperate housewive, was in dream house, now she has new title to add to her resume, a stock trader. the 16-year-old is giving heradvice on her blog. rachel fox joins us now from los angeles.hey, rachel, great to see you. thank you. thank you for having me. you made 338 trades in 2012. with a 30% return on the year. not too bad. compared to hedge fund managers out there. how did you get started? thank you. you kn mom was in finance, and my dad is just a genius with numbers. they both really understand the stock market. they thought it was extremely important for me to understand the basics even. and when they explained it to me, i kind of fell in love with the idea and the concept of being able to just buy something, have it go up, or have it go down, depending on which waou bet it and have it make you money. i thought, oh, my gosh, that’s amazing, and so easy, i have to do this. i learned now that it’s definitely not that easy. but i think it’s an awesome concept and i started doing it, and i got addicted. i love it. i could not go days without it. it’s wonderful. so you are a true day trader, at the end of every day you go home fully in cash, correct? how do you choose stocks to bet during the course of the day? for the most part, i am a day trader. some days i will hold overnight. i do a couple of swing trades or and how i pick my stocks, i’ll just look at a bunch of different things. i usually go on technicals, what is overbought and oversold. i try to look at stocks that are less affected by news. i mean, i don’t necessarily trade a stock like apple quite as much, because it is so — people are always talking about it. someone’s always speculating on it. it’s always being swayed by someone’s opinion or some piece of news. i try to really trade stocks that are more technicallyaffected. stocks like hbc, or flp, oil stocks. i mean, stocks like tiffany’s, or nov. i love stocks like that, if they’re overbought, they’ll probably get corrected. what’s your favorite stock at the moment, rachel? my favorite stock? you know, i just had a greatshort sell the other day on tiffany’s, so i love that one. it’s a favorite right now. and also, you know, i really — i’m looking at facebook, just from a day trading perspective. it’s relatively cheap. relatively low priced. its volatility is incredible. and it is — it has a high volume in trading. it’s a very fun stuck to day trade.and facebook is difficult, because it’s something that a that a lot of people talk about a lot. and i think it’s very — it can be affected by people’s speculations, opinions. it is one of those stocks which makes it difficult. but it’s a perfect day trading stocks.that’s one of my favorites right now. rachel, not to embarrass you but we always love asking people what their most painful trade was and the lesson they got as a result of that. have you gotten cght in a squeeze or have you bet heavily and it went nowhere? it was the first trade i ever made. it was was what kick-started me into trading. it was tough. it was a stock tip from someone. my family and i were at a thanksgiving party. and a guy there told me, you have to invest in this stock,it’s amazing, it’s a $2 stock and it’s going to go to $10. and i was like, i have to do this. sounds amazing. it was a stock tip. and the stock right now is trading for about a quarter of a penny. it went from $2 — i know, yeah. it was crazy. i lost my shirt for sure. but it was my first trade. it got me into it and i learnednever, ever take a stock tip because only you can enter the trade and know exactly when to exit it. you have to really just trade onyour own instincts and not just be like, oh, this person says this is great, let me just go for it and do it. it’s so nice and easy. it feels so cushy, they’re giving me this advice, it must be right.but it’s never that easy. trust me, going to $10 is something you don’t want to follow through on.

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