I’m going to do my best not to go off on a rant as I type this up at this very moment. All I’ll say is BE CAREFUL when it comes to those “guru’s” using expensive lifestyles or extraordinary results as the backbone of their marketing. Please. Trust your gut and instincts on it. Thanks to our guest’s willingness to share, Tom (“tvesel” in the trading room) freely talks about his initial experience with a guru who… well… was a bit shady. I’ll just leave it at that. To Tom’s credit however, he didn’t let the experience hold him down and he got back up, dusted himself off, and kept on moving forward to create a journey for himself. He’s come a long way since the start and he continues to progress, so let’s talk about it!
Notes:
Today we interview Tom from the community. Tom, unfortunately, started his educational journey with a competitor and starts the interview about the bad experience he went through.
Tom has had IRA’s for a quite a long time. His mother also caught the dot-com boom and fortunately sold before the large crash. He has always monitored the pulse of the market and with more time available, Tom was looking to make a living without being location dependent.
He did spend 3 months trading at an offshore broker before he eventually closed his account to go to a more reputable broker. After exploring other options, Tom decided to join University and really enjoys the content and community support he receives.
Tom is a big fan of Interactive Brokers chart trading platform. It visually helps him see his risk vs reward and to ensure he sticks to his plan. Even though he paper traded for a good amount of time, he believes the real value of paper trading is to get you familiar with your platform. At some point, you will need to put real money on the line and that’s when emotions will come into play.
He is working on trusting himself to take an entry that he sees. He has the habit of watching it but not acting on it (which is completely normal!). Commitment takes time to develop and comes with confidence in your trading system and plans.
Quotes:
Clay is annoying. Repetition repetition repetition. There’s so much to that. Others gloss over important info.
I learned some things from Google. All these things are on the internet but I was missing an ‘easy to follow course.’
There are a lot of normal people. Honest and sincere. These are people who have nothing to gain by their recommendation.
Paper trading is good to get a handle on your platform. Eventually, the rubber has to meet the road though.
I will never ever move a stop to give it more room. I will only move it to reduce my risk.
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