“No guts. No glory.” That’s definitely the attitude our guest took when first entering into the markets. Romeo (chat room alias, “YankeesVsBoston”) has some very bizarre luck when he first started trading, leading to a very false sense of confidence. Enough confidence in fact to give him the guts to take a loan out to fund his trading account! Like I was saying, “go big or go home” was his philosophy early on. How’d that all work out? Was it a wise move on his part? Let’s find out…
Notes:
After graduating from college, Romeo decided to set some money aside to speculate in the market. He was not happy with the returns of CDs and savings accounts. This led him to the world of penny stocks.
His initial penny stock purchase immediately went to 0 but to Romeo’s surprise, a few months later this ticker had a flurry of volume and tripled his money. This led him to believe he was the king of trading but continued to fuel his interest in the market.
Romeo took a $5,000 loan to add to his trading account now and tried to utilize it on 2 trades but luckily for him, he could not get a fill and essentially avoided two massive pump and dumps that would have wiped his account out. Unfortunately, he went all in at the top of his next trade and sold the low to cover his first loan payment.
This event led him to realize the importance of practicing his craft so he spent months paper trading to find what specific type of strategy worked best for him. After chatting with another member he decided to join CTU and further his education.
His dedication was only further compounded by having his friend believe in him and give him a generous loan to help kickstart his trading attempt. At the time of this recording, Romeo is now trading full time and has almost completely cleared out his old debts.
Quotes:
“As soon as I bought it, it went straight to .0001 the next day. I thought ‘Wow, that’s it. It’s gone.’ “ tweet this quote
“I finally got filled and it was at the very top. I held and sold at the bottom and barely had enough for the loan payment.” tweet this quote
“I probably spent 6 hours of my time a day studying and studying. I had zombie eyes. I was really focused on what worked for me.” tweet this quote
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