Working for the world famous sports broadcasting company of ESPN, I can see how that would be a “dream job”. Our guest from the community, Hamlet, through hard work and dedication was able to achieve this goal of his. One would think that he had reached the pinnacle of his ambitions and would just continue to build from there; however, this all lead Hamlet to the world of trading and the markets. Huh? Yeah. I thought that too! Luckily for us, Hamlet is an open book and we get to go alongside him through this exciting and interesting journey.
Notes:
After Hamlet graduated from college, he landed what he thought was his dream job at ESPN. Unfortunately the job was extremely stressful and led to him figuring out what would be the next logical step in his life. This led him to wanting to get involved in the market.
While doing his due diligence on Claytrader, he stumbled upon a review of someone who actually didn’t like Clay very much but did his research and investigation and concluded that Clay was indeed genuine and truthful. This led Hamlet to invest in Robotic Trading and join the community.
Hamlet exhibited some great risk management by purposely starting with a small amount of his overall capital. He got his ‘feet wet’ by keeping his position sizes small and ensuring that he was developing good habits up front. You can tell very easily that Hamlet had always treated this as a serious business and didn’t treat it as ‘funny money.’
He took $15,000 out of his 401k to start trading larger size and was able to make a pretty sizable gain. However, he does say that in hindsight he should have never taken a position that large. A month later Hamlet changed his approach. His use of a mental stop and averaging down led to a large loss which devastated him.
After reviewing his trading and spotting his pitfalls, he has been extremely consistent since then. Hamlet excels as a day trader and enjoys not worrying about gap risk holding multiple days. He’s actually been doing so well he was able to use his trading profits to launch his own ride sharing rental company.
Quotes:
“It was a really intense environment. I realized it was going to take me so long to get to my long term goals in life.” tweet this quote
“I looked into fundamentals. With all the information, how am I ever going to trade with all of it? I knew there had to be another way.” tweet this quote
“Many people have said in past podcasts, the chart never lies.” tweet this quote
“It was almost like an easy trade right in front of me but there is no such thing as an easy trade.” tweet this quote
“When I get stubborn, I just don’t want to lose. Everytime that happens I lose money. You have to let those losers go.” tweet this quote
