Meet the Trader: Derek Mullen
The latest active investor in tastylive's Rising Stars series proves systematic trading repeatable mechanics can transform losses into success
- Derek Mullen, 51
- Dublin, Ireland
- Years trading: six
From losing 70% in the 2008 crash to managing over $10 million today, Derek Mullen’s journey demonstrates his remarkable persistence. Starting with just $25,000 in 2020, he embraced tastytlive’s options strategies, focusing on strangles with 16-20 delta and 45-day expirations.
Despite GameStop setbacks, he achieved consistent annual returns of 30% to 40%. “I just kept going,” Mullen says, proving systematic trading with simple, repeatable mechanics has the potential to transform devastating losses into extraordinary success.
Mullen, who holds a degree in business from Dublin Business School, has been trading full time since 2019. He trades multiple accounts for himself, friends and family on multiple platforms.
How did you start trading?
First got interested when the company I worked for gave shares to employees. The company was Eircom, the national phone company, and it was pre-IPO, just before the tech bubble burst. I then was keen to learn all I could about the stock market, etc.
Favorite trading strategy?
Covered calls, strangles, iron condors and credit spreads.
Which financial instruments do you most frequently trade?
Stocks and options.
Tell us about your success with trading.
It was hard to believe I could achieve this four years ago, but at this time I was trading multiple accounts with a few hundred grand. Now, my account is in the millions. This is all due mainly to my successful trading, including additional deposits from the guys I trade for.
What was your worst trading moment?
Easily the worst was a strangle on GameStop (GME). When the short squeeze came along out of nowhere, it drove anyone in that trade crazy. It was very difficult to manage that, and it wiped out a small account I was managing. It put a massive strain on that relationship.
Yesenia Duran — not an alien, not a zombie; just an editor.
