We all have different amounts of motivation that we require in order to give us a “wake up” call, and in this case, it took a loss of 75% of their account. Thanks to his honesty and transparency, chat room member Chase gives us a fantastic look into his journey… including needing to lose the majority of his account before realizing and acknowledging he needed to make some changes. Chase has been around the community for a long time and is a asset to the community, so I’m excited to be able to have him share his story with the rest of us. Get ready!
Note’s
Chase’s parents had purchased stock for him at a young age. He let these shares sit until he was an adult and somehow in passing he was reminded of this and started to investigate how he could make money in the stock market.
After extensive research, Chase decided to join the Inner Circle because of the low cost. After spending some time in a few communities, he decided to stay here because of the environment. He however did not invest in his education at this point.
While going through free content on the internet and giving him a sense of knowing the basics, he then would place trades from his phone in the bathroom before returning to work and then check on them again in 20-30 minutes.
When Chase took his trading account from 2000 down to 500 dollars he realized he needed to spend more time investing in his education. He took 2-3 months to get through every single video and every course. He also rewatched multiple courses to hammer home the principles taught.
Chase is a big believer in logging his trades via a trading journal. He writes down information concerning his mentality and attitude both before and after his trades. This detailed log provides a good amount of data for him to review when the market was closed.
Without a real passion for the markets, it would be truly difficult to maintain the amount of practice and good habits that Chase exhibits. He understands that this is not a get rich quick scheme and recognizes that without consistent effort there is no way to succeed.
Quotes:
“I just wanted to have a really relaxed life. I hate the 9-5 jobs. I didn’t even know trading was a thing. I thought it was investing.” tweet this quote
“The best way to describe penny stocks in general is just ‘a dump.’ When I got in there the big hype was Ebola.” tweet this quote
“Instead of being on the momo train like I am doing now, I was just getting hit by it.” tweet this quote
“My paper trading account is setup exactly like my live account. I’m still just focused on the process. tweet this quote
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