We’re bringing back a former guest and hearing all about where he stands in his current trading journey. We interviewed Hamlet (“Crusader” in chat room) a little over a year ago and he’s still going strong. I won’t spoil the details, but all I’ll say is that Hamlet (as far as I can remember) takes the top spot of all the guests we’ve ever had in regards to mastering his own “mental game”. If you have traded in the stock market or even the cryptocurrencies market, you know that a huge part of trading is what goes on between your ears. As mentioned, Hamlet has taken the mental training to a whole new level and it was awesome to hear the passion he has to succeed. His journey has shifted a bit from where he started, but the core foundations are all still in place. Lots to learn from Hamlet’s experiences!
Today we re-interview Hamlet who goes by Crusader. We previously interviewed him on episode 79. Like many others, Hamlet originally thought the market was way too advanced for him but after further research, he invested in his education and realized that he could definitely trade the markets.
While education is extremely instrumental for trading, there is always the personal struggle that all traders deal with. Managing our emotions is very difficult and anyone who tells you differently has not traded in the markets with their hard earned money.
Similar to many other traders, Hamlet went through a rough patch. His competitiveness led to some large losses that made him recognize that he needed to step back and reevaluate the mental side of his trading.
Hamlet is a big believer in multiple streams of income. He owns a business which is fully operational and his trading endeavor is his ‘startup.’ While he is not pulling profits out currently, he has a long term plan to achieve this.
Education is the first thing you should focus on before opening a trading account. It was just pure instinct to try to learn first.
I can concentrate on a web of price instead of being exact. That’s what I love the most about options.
One day, 6000 dollar unrealized loss. I just kept averaging down. It was hard and painful but you have to stay mentally tough.
I do strictly options. I trade futures options because they move slower. I look for opportunities there and in the equity market.
I went away from my bread and butter (options). I stuck my nose where it didn’t belong. It was a reality check.