Chezz and I once again are venturing to the southern hemisphere to talk with a trader from Chile. I say “once again” because this is actually the second trader we’ve talked to from the country of Chile… pretty cool! Nicolas (chat room alias “Sazu”) takes us on a wild ride which starts with him basically knowing nothing about the market (which includes him thinking penny stocks are a “good idea”) and ends at a place many people want to be: trading full time from his own home.
Notes:
After going through college and getting into his first job, Nicolas realized right away that he would not be making enough money to make him happy. This led him to explore other options to supplement his income. He started to research value investing similar to how Warren Buffett decides what to buy.
Realizing that fundamental research was a very slow and laborious process, he was unsure if this was the best for him. Nicolas spoke to a friend who steered him toward a shorter term trader who recommended checking out Claytrader.com .
Nicolas took the Penny Stock Survival Guide and recognized right away that there were many downfalls and risks associated. This led him to follow Clay’s recommended course path and he then continued to invest in his education to become a trader, not investor.
While Nicolas did take a string of losing trades, the most important part is that he kept them all extremely small! This allows your winning trades to easily wipe out many losses sometimes all at once.
Nicolas’ workplace was also not very conducive for trading. He would constantly have people hovering around him asking him questions about it and he was kind enough to speak to them about it. However, this is an incredible amount of distraction which is not helpful for trading. Nicolas saved up a good sized account (and a year’s worth of expenses) and decided to work from home and trade for a living after that.
Quotes:
“I started researching Warren Buffett. I watched 3 course videos and read 3 books on value investing.” tweet this quote
“This guy sent me lots of emails saying ‘get rich soon.’ I thought, get away from this guy and went to your website instead.” tweet this quote
“I took my time and continued being patient. I just continued learning and watching videos imagining I was trading.” tweet this quote
“I was waiting for the home run. I wrote down my mistakes and what I had to improve on after that.” tweet this quote
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