Let’s go!!!! I’m sick of excuses! I swear… the more people I interview on the podcast the more crustier and grumpier I become when it comes to people playing the victim card and crying foul with all kinds of excuses. I don’t want to spoil anything, so all I’m going to say is that thanks to our guest, Rick (“mollardr1” chatroom alias), I’ve become that much more of a jerk to those who walk around with the victim card. If you are looking for some inspiration in regards to putting the axe to the grindstone to go from Point A to Point Z, I guarantee you will get that in this discussion. Let’s get to it!
Notes:
In today’s episode we interview community member Rick. Since Rick grew up on a farm he was familiar with commodity markets such as corn, cattle, etc. He also participated in a paper trading competition for school and while other people went all in on some penny stocks, Rick took it more serious.
Starting at the age of 17, Rick had started to put in monthly contributions to mutual funds hoping for 10% growth over 5-10 years. He eventually closed those accounts out and used the proceeds to buy his family a home. This led to a trading hiatus while he rebuilt up an account.
Rick went to a seminar that discussed the importance of multiple streams of income so this was his main focus. This helped him pay off his home in full and generate additional revenue every month which led him to be able to fund a trading account again.
After looking at the various education sources out there, Rick decided to join Claytrader and started the formal education that is involved. He enjoys trading longer term time frames as this fits his life best.
Even with a high win rate trading strategy, Rick is not prepared to go full time to trade yet. He realizes there is much more to learn and that takes time and experience.
Quotes:
I walk into Morgan Stanley and told them I wanted to purchase stock. He told me that I couldn’t because he wouldn’t get a commission.
I went on a hiatus for 3 years because I didn’t have more money to throw into a trading account.
It would be cool to quit my job but I want to know the numbers before hand… because that’s a big jump.
I paper traded from July ‘17 until Nov-December. Now I’m slowly starting to build actual positions with real money.
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