TJ 111: Greg Holmes and the Importance of Mentors

Greg Holmes first met Tim in the spring earlier this year for mentoring after flying down from in Corunna, Canada. Before getting into trading, Greg was electrician by trade for 20 years who let his money sit in mutual funds and a 401K. A friend got in with a financial firm and introduced Greg to various trading strategies, and it hooked him in a big way. Greg got certified with a few financial licenses, even becoming a certified financial adviser, and worked for a few mutual funds. Even during that time, he kept taking trading classes and seeking out mentors as he found out that trading for yourself is the best way to handle your finances if you know how to do it. His first trade was just before the sub-prime meltdown of '07/'08, when Greg only knew a few basic strategies. As the meltdown unfolded, it initially appeared Greg's limited knowledge and basic strategies weren't enough for him to make headway with his trading account. However, due to Greg being a defensive trader by nature, he structured his portfolio in such a way that he came out ahead in the long run. This defensive-based trading strategy was refined further by Greg over the following five years, and it's now a solid system called Dividend Fireworks. The general idea is structuring the portfolio's foundation defensively, then going after cash flow through dividend-bearing stocks and options trading. Even as defensive-minded as Greg is, training and good mentors helped him get there, and he's eager to give back to other traders just entering the fray.   In this episode of Trading Justice, Tim and Greg Holmes discuss Greg's journey to becoming a trader (including his start during the subprime crises) and mentoring. ...and if you're a Tackle Trading Rookie or Pro member, you'll get a chance to see Greg Holmes' system up close on September 17 at 7 PM EST during the September Cash Flow Club!