Meet The Author: Michele Schneider

Welcome to our “Meet the Author” series!

Sometimes the best way to improve your own trading skills is learning about other experienced traders’ decision-making processes, reasoning and strategy. In this series of posts, we will be spotlighting one of our newest contributors so that you, our readers, can learn more about their trading style and interests.

This week we’d like to introduce you Michele Schneider. To follow her latest articles, click the “follow” button on her profile page.

1. Please tell us a bit about yourself (freestyle) - what does your day-to-day look like? What are your hobbies? How did you get into analyzing and writing about the markets?

I began with a career as a special education teacher in NYC. By chance, I met a woman who worked for Merrill Lynch on the NY Commodities Exchange. Once she brought me down to see the floor, I was hooked. I got my first job as a Coffee, Sugar and Cocoa analyst for Conti-Commodities. A year later, they made me a member/trader of the exchange. From there, I spent 13 years on the floor as one of the few female independent brokers. The last 10 years, I have worked at the Director of Trading Education and Research for marketgauge.com.

My day-to-day activities are very much focused on the market. With thousands of paid subscribers, my job is to offer them macro analysis, teach them how to trade and provide trading recommendations.

When I am not involved in the markets, I love to hike, cook, do TRX, and play with my 2 wonderful Havanese dogs. Plus, take care of my hubby, CEO of marketgauge, Keith Schneider.

2. What were the biggest mistakes you made when it comes to trading/investments?

When I first began trading, my biggest mistake was getting out of a profitable trade too soon. I am a very conservative trader in general. So, I have had to learn a system for exiting at profit targets and trailing up stops. Now, I teach that strategy. 

3. What surprising thing(s) have you discovered that you had no idea about at the outset?

Trading is one’s best psychologist. I have discovered that your mind is not always your friend. With that, besides having a sound and repeatable trading strategy, one must learn to respect their state of mind and lay low if one feels “off.”

4. How has your trading/investing style changed since you first started trading?

I used to scalp whatever commodity I was trading all day long and keep a little bit for a position. Now, I am primarily a swing trader. 

5. What’s the best/worst thing that’s happened to you in your trading/investing and what did you learn from it?

Best thing was winning the award in 2018 from RealVision for the best stock pick of the year. I learned that using a combination of fundamental and technical analysis works great for me. The worst thing has been trading scared or getting out of a trade too soon. The lesson there is too not get attached to any one trade, and thing bigger. The guys on the Exchange used to say to me-when you are on a bad streak, go out and spend money-it loosens up the fear of losing. 

6. What’s the single market-related achievement you’re most proud of?

Writing a book that won the top wealth book ( Plant Your Money Tree: A Guide to Growing Your Wealth) of 2019 by Bookauthority.com.

7. What’s the single market-related thing you’d never do again?

Watch ticks minute by minute-can make one nuts!

7. What advice would you give to new traders/investors?

Become an expert in one thing. Once you have a repeatable and successful strategy, you can begin to branch out. 13 years on the Floor helped me to become a specialist because of the single focus on price and chart patterns. 

Be sure to check out the latest offerings from Michele Schneider here and follow her to stay up to date with their new articles.

Feel free to ask Michele Schneider any questions using the comments section below.