Adam Mesh, a finalist on NBC’s “Average Joe” and star of the spinoff “Average Joe: Adam Returns,” earned millions by day-trading. But 3 years ago, he sold his interest in his company and became a “trading coach.” His free trading tips go out to 60,000 readers daily (available at adammesh.com). He also authored “The Average Joe’s Ultimate Guide to Making a Fortune in the Stock Market.”
Mesh wants investors to take their money into their own hands for two fundamental reasons: Nobody cares more about your money than you do, he says, and brokers don’t receive incentives to make you money, but to make trades.
Mesh advises to almost never hold a stock if the price dips more than 3 percent. The goal for his company was about small losses and big wins, he says. He carries that into his coaching. He advises clients to start small—to get proof that a strategy works—and never invest more than they can comfortably afford to lose. The idea is as you make more in profits, you have more to invest, so you don’t have to risk a lot to make a lot, he says. Trade the money you’ve made on trading, he advises.
Mesh has 10 percent of his money in cash, 25 percent in stocks, which he stays in from days to a few months, and 65 percent in fixed-income investments, including government-insured bonds and tax-free municipal bonds.