My Trading Story....So Far.

lasner · Jul 28, 2008

Quote from pere490:

Hello fellow traders.

Just wanted to share my trading experiences and future plans.

My background includes a BS in Meteorology, A Certified Financial Planner designation, insurance agency ownership, and now a position as an Financial Advisor for JP Morgan Chase. Now why would I state the previous, because I want to be a full time trader like so many others on this site.

My trading experience began about 3 years ago surfing the internet looking for a new way to make money. I have been in business for myself since 2000 and I was really bored with insurance and retail financial service sales. I opened my first FOREX account with 1k and had no idea what trading was. Now I had read several books on stocks and actually worked as a stock broker for about a year so I had some market experience. Boy how little I knew I was about to find out. Needless to say I blew up my first 1k in about a year. Now losing actually taught me so much and I knew I found a new passion. I read tons of trading books, read websites like this, and decided trading was my future.

One day looking on craigslist.com I ran across an employment ad looking for equity traders for a private equity fund. Sat down with my wife and said can you handle our insurance business, because I really wanted to try this. I spent about a year with the fund trading CEFs, REITs, and ETFs. My first 6 weeks I was making money even had a $700 day at one point. Then the broad market decided to go into the recent chaos and my profit vanished and my equity slowly took a nose dive.

Frustrated with trading style of the fund me and two traders joined together and got a sweet prop deal. We thought we were going to finally make it and get rich or atleast make a good living. I put up 5k and two others put up 15k each. We began daytrading AAPL and other stocks with little success. I managed to close my account with $4200 in equity, one other pulled 9k and the other is still there with 3k and limited buying power.

Once I pulled my money out I decided to spend some money in training with the online trading academy and dumped my 4k into my FOREX account. I decided that you CANNOT trade without atleast 25k so I took a day job as a Financial Advisor again and decided to trade FOREX at night.

I have seen improvement in my trading and right now plan to trade FOREX and work my day job so I can save money, pay some bills, and better be prepared to take on the market full time again.

I will succeed as a trader and I think most can too. It just takes dedication and at times the honesty to know that you are not ready for the endeavor. There is no shame in a day job. Just wanted to share my story because I know reading people stories really can be inspiring and educational.

Wannabe Trader.
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If you want to be a trader go back and get your MBA go to columbia they have a concentration in value investing....that's the only way it will happen....good luck!

4DTrader · Jul 28, 2008

Quote from tradewiz50:

4DTrader he's been a loser since he joined ET.

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Now I know ET is the cause of my failure!

thanks for enlightening me.

tradewiz50 · Jul 28, 2008

Quote from 4DTrader:

Now I know ET is the cause of my failure!

thanks for enlightening me.
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Your lack of fundamentals and discipline is why you fail!

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My Trading Story....So Far.

lasner

4DTrader

tradewiz50