Stock trader stories
Upcoming Free Training Event: How to Kill Your Stress , Fear and Frustration as a Trader. Trading stocks for a living is one of the most enjoyable jobs a person can have.
You can be like me and roll out of bed and head down to the computer in your underwear sorry, was that a bit too much detail? I will start with the bad. The reality of the situation is, quite frankly, the majority of stock traders fail. Sure everyone scores a winning trade now and then, but over the long haul, their portfolios remain the same, or worse yet, dwindle down to nothing. The good news however is that the reason most traders fail can be avoided.
The question really boils down to are you willing to do what needs to be done in order to separate yourself from the rest and succeed? I believe it is a safe assumption to make that 99 out of traders would answer that question with, Yes! I am willing to do whatever needs to be done to succeed!
The problem is, due to human psychology, it is not as easy to do as it may seem. I am sure we have all been here before. You make a trade and score a big winner.
At this point, you feel on top of the world and like you have this trading thing all figured out. This is totally understandable given that is a natural human emotion. Your thought process is going to follow along these lines:.
I am also very confident we have all been here before. You enter into a trade that does not work out the way you wanted it to and eventually you sell for a loss. At this point, you are mad, frustrated, angry and bottom line, want your money back! Your thought process goes something like this:.
These two thought processes are what I like to refer to as the Viscous Cycle of Failure. Let me ask you a question.
How I Got Started in the Stock Market
What do you think a plumber, lawyer, doctor and school teacher all have in common? Let me ask you another question.
Don't try this: meet the high schooler who made $K trading penny stocks under his desk | The Verge
What do you think the difference between the above mentioned careers and stock trading are? Do you think it would be wise to allow a plumber, lawyer, doctor or school teacher to start a career in one of those fields without any kind of education or training? So then… why in the world do people think they can just open an online trading account and have consistent success with no training or education!?!?!?
My story begins when I was in college. I discovered the stock market and was fascinated with the fact that you could make money by pressing buttons at your computer screen without ever leaving your room. Because I had all of a sudden proclaimed myself a trader, the next logical step was to sign up for an online brokerage account.
I wired in some cash from a college job I had, and with basically a snap of my finger, I was ready to get started. Perhaps this sounds over-dramatic it is the truth however , but this point in the process is going to determine your success or failure as a trader.
My first ever stock trade was Level 3 Communications, Inc. LVLT and it turned out to be a success. With my new found confidence, my thoughts towards needing education and training widened that much more. I just Scored a Winner , why would I need to spend any of my profits on education? The better choice would be to spend the profits on more trades so that I could make more profits!
This seemed like an extremely easy decision to me. I then entered into three separate stocks at once. These Bad Trades that caused me to Lose Money brought me back to reality quicker than I could blink. After I finished eating my humble pie, I accepted the fact that this stock trading thing was a bit tougher than I had estimated.
I certainly did not enjoy losing my hard earned money especially as a college student , so I concluded that some education would be worthwhile. I had a problem though…. That is a cruel cruel cruel mind trick as more often times than not, it causes us to make even more bad decisions with our money.
My very next trade was a good size winner.
The mind is a very weird place. I then found a message board that lead me to the stock that would eventually break my heart. I still had no strategy or foundation to build from, so I just read message board posts and blogs about how great this company was they made high quality mufflers — haha. It was a penny stock and I truly thought it was going to at least a dollar when at the time its price per share was only a few pennies.
I genuinely thought I had figured it all out and that I was going to be a millionaire. While that may seem like an earth shattering number, to me a college kid , it might have well as been a million dollars. Hitting the sell button was the low point in my trading experience. Here I had thought I was going to be rich, and in a click of a button I was now poorer.
A s painful as the whole experience was, it was also the best thing that could have happened to me. This is the event in my trading story that allowed me to escape the cycle.
It was a good ole fashioned slap across my face that made me realize I had no idea what I was doing. I might as well have been playing a game of darts.
Nicolas Darvas System Success Stories
Get into a new trade and then we can spend money on training! The first step, what kind of analysis strategy do I want to use? For me, I knew I had to get emotions out of the process remember, I just had my heart broken , so technical analysis seemed like the best fit for me, so the education investing began.
I Developed and Learned Trading Strategies and the rest is history…. I am now the most followed trader on the very same message board that led me to the stock which broke my heart, but more importantly, pulled me out of the vicious cycle. I know my experience is not unique. The core is still the same: Maybe your in the great spot of just having decided you want to trade. Here is the beauty of things.
It is very easy to figure out if you are stuck in the cycle. All you have to do is ask yourself…. If you are still reading this, you know what step in the cycle you must get to. It is time to Invest in Education.
I know this is easier said than done. There is no stage that makes it easy. Going full circle, this is the opportunity to separate you from the majority. The question is, are you willing to do what needs to be done in order to separate yourself from the rest and succeed? I am all about technical analysis and the use of charts I love how they eliminate the emotions… I do NOT need my heart broken again! I will not ask you to take my word for it though.
What I will ask is that you read the testimonials from the many other traders who have already purchased the course. While I certainly hope you choose to learn from one of my course, at the end of the day, if you want to get out of the cycle, you need to Invest in Education.
Whether that is through my help or by some other means, the pathway to success is paved with having a foundation to build strategies from. Looking to find stocks to trade like I do? Download this free report revealing the 5 tools I use everyday to find the stocks I am going to trade. Why Most Stock Traders Fail: Download this free report revealing the 5 tools I use everyday to find the stocks I am going to trade DOWNLOAD NOW. Let Me Help You Get Started DOWNLOAD MY FREE RESOURCE GUIDE Download this free report identifying the 5 tools I use every day to find the stocks I am going to trade.
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