Did I ever think I’d “talk trading” with someone from El Salvador? Absolutely not! But hey, that’s the great thing about the podcast, it is allowing us to hear about journeys from literally all over the world. We speak with chat room member, “DarthRay” about his journey, which includes getting lured into a group where the leader was eventually sent to jail for essentially operating a Ponzi scheme.. yikes! He was also doing some real time trading as he spoke with us, which prompted an on air coaching call to unfold. I don’t want to ruin anything, so I”ll just say the interview was very unique, and I mean that in a good way 🙂
Notes:
Darth has had an interest in sales and the market for many years. After going to university, he transitioned into full time employment but once he arrived he recognized that he didn’t like the fact that he wasn’t in charge of his time. He started to investigate other income sources and considering he has some family who are in the market, this led him to try his hand on a simulator first.
Three years ago, Darth decided he wanted to find someone to learn from. He thought he could make a good living trading off of alerts from guru’s. Unfortunately he had to learn the hard way that penny stocks generally move off an alert and then get offloaded into the sheep of the service. This led him to recognize he wanted to avoid penny stocks and trade options.
After growing his account 300%, he unfortunately was involved in a ponzi scheme and gave all his gains back and more. The service he was using eventually closed and an investigation ensued so Darth went to find another service that hopefully wouldn’t dupe him. This led him to Claytrader.com .
As Darth has progressed through his education he has developed a solid routine to prepare for the market and to trade accordingly. He completely abides by good risk vs reward principles which leads to long term steady growth in his trading accounts.
As Darth has progressed even through some hard trading times, he has learned so many lessons and learned the reality of what trading is. Patience, focus, education, and persistence are all great words to define his approach to the market and also his life.
Quotes:
“I traded 3 Yugioh cards for a Playstation and 5 games. That is when I felt the first rush of trading.”
“My paper trading was unrealistic. Basically I was lying to myself. I wasn’t preparing with my real balance.”
“He told us to buy specific puts and calls. What we didn’t know was that he was selling them to us.”
“I got a contract with a firm in Chicago and I’m going to open the first Latin American introducing brokerage.”
“I can lose up to 3 or 4 times but if I have 1 winning trade it makes up for those 4 and gives me a profit. I focus on the winners.”
“Never give up. This business is very hard. Never stop studying. The more I learn, the more I realize I have much more to learn.”
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