By Greg H., Senior Branch Stock Broker and Guest Blogger
Travel four miles off the coast of Africa or Florida into the crystal blue ocean waters and you’ll find Warren W., one of our clients, aboard a 564-foot ATB carrying 146,000 barrels of oil. Warren has been a merchant marine officer for 22 years and a do-it-yourself investor with Scottrade for 10. I have gotten to know Warren pretty well over the past few years – helping him with his accounts and showing him how to use our online trading tools. And every time he walks through our branch doors after being out at sea for weeks, he always brings a smile to my face and everyone else’s at the branch.
Warren is the epitome of the do-it-yourself trader. He constantly checks the market and logs in to his Scottrade account every other day to see how his investments are doing.
What is interesting about Warren is how he manages his portfolio and finds trading opportunities because traveling across the globe and being out at sea doesn’t always make it convenient.
Being curious, I asked Warren how he does it – how he stays on top of everything that is going on and his portfolio. His answer: A combination of resources and tools.
Here is what he had to say.
Trading Resource No. 1: Screeners
I am extremely bullish when it comes to investing in oil. I have worked in that industry for years and know that market well. But I also look for opportunities to diversify my portfolio. So if I want to invest in the medical industry or a particular commodity, I use screeners. It makes finding my next investment helpful. I select what I am looking for (high dividend, low risk) and the screener gives me a few choices. I have been able to find ETFs that pay a monthly dividend, follow the S&P, are relatively low risk, and have a good Morningstar rating.
Trading Resource No. 2: Scottrade® Mobile App
Sometimes the only way I can access my account is through the mobile trading app. So I take my phone with me on every trip out to sea. It’s how I stay connected. There are a few days where I don’t get service, but I always make sure before I set sail to check my account and place any needed stop-limit-on-quote orders.
Trading Resource No. 3: Local Scottrade Team
It is not uncommon for me to call my branch once every few weeks because I know they will handle my request quickly, which is important to me. I remember being in Puerto Rico and I was minutes away from boarding a plane to meet my ATB. I noticed my account transfer was not set up yet and I needed funds transferred. So I called my branch. Within no time, they took care of my request. Having a live person to talk to when you are in a crunch is one of the most valuable tools if you ask me.
There is no question Warren doesn’t trade like everybody, but with us he is trading his own way. And that is what we are here for.
Where’s the most unusual place you’ve traded or managed your accounts from? Comment below or use the hashag #itradelikeme on Facebook and Twitter.
Also of Interest:
- How to Access Today’s Market News on Scottrade’s Mobile app
- Six Mobile App Alerts that Can Help You Manage Your Investments and Trades
Greg H. has been with Scottrade since 2009 and in the financial services industry for 11 years. He is a senior branch stock broker in Ocala, Fla.
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