Do you remember the exact moment that defined the rest of your trading career?
I do: On my fist trade ever, I went broke… I absolutely busted my trading account.
I was a young, naïve man with stars in his eyes. I was 23, just moved to a big city and worked with a guy who ran a junior mining company.
He told me all the wonderful things he was going to do with his company, and I was convinced that I’d be a quick learner and make a lot of money… Not to mention I was thrilled at the idea of finally taking down the big dogs on Wall Street I’d heard so much about.
And with no experience or real knowledge on what the heck I was actually doing, I bought $5,000 worth of stock…
My entire life savings at the time.
Needless to say that stock went from 25 cents a share to right off the board. It was one of my worst investments ever. I did zero research and got conned in the process.
But I swore I’d never let that happen to me again.