I want to tell you a story. This story will explain a little about who I am. My name is Ryan and I live outside of Knoxville, Tennessee. I trade the markets every day from an office in my home. I am not a billionaire trader but rather, an average guy who has found a way to understand the market. All that being said, here is my story…
Since I was a kid, I have always wanted to work for myself. I remember playing with my mothers insurance envelopes and pretending they were money at age six. From the age of 6 till I turned 30, I tried every way I could think of to make money. I sold products door to door. I tried the phone card stands. I even tried multi-level marketing and then this happened…
On Sept 28th 2008 the Stock Market dropped over 700 points…
This incident changed the course of my life. I was ordering some tasty corn dogs at a truck stop in Dallas, Texas when I looked up at the television mounted on the wall. The news headline of the day was something along the lines of, “The Dow Jones Industrial Average has just dropped 700 points today!”
I was so amazed and actually thought to myself about how everyone in the world was getting creamed until I heard one little sentence that changed everything from that moment on. A news man of some sort stated these words,
“Boy, those short sellers are making a fortune today!”
“What? What the holy canoly is this man talking about? How can people make money if the market is going down? This is absurd!” These were my thoughts that day. For about and hour, I pondered the meaning of the words so i googled the term “short sellers”.
That google search ended up being a 12 hour marathon of searches because my eyes were opened that day. I knew from that moment that a person could make money from the markets whether they were going up, going down, or not even moving at all. It was the greatest, most awesome, mind awakening day of my career life.
This was the first phase of my trading journey. I will call this chapter ‘HOPELESS, GULLIBLE, AND SCREWED’…
I promptly looked for a way to open a trading account of some sort. I was gonna be rich, rich, super rich! So I opened a demo (fake money) account with FXCM which is a currency broker. I placed $200 in an account and away I went buying and selling and moving my orders and staying glued to the news etc… I was having the time of my life. I doubled my account on day one or two. I was even putting figures on paper of how rich I would be if I only doubled my account ever week. I would be a millionaire in a few months! WoooHoooo!!!!!
The next day I lost all of my profits and my account showed a balance of $0.42. Forty Two flippin pennies?!?!?! You have got to be kidding me! I lost all my money, my entire account, in a single day! I thought, “My broker must have screwed me over! That trading tip I took from an online forumn was pure bull hockey!”
I ended up losing 9 live, real money, accounts down to just about zero before I finally gave in an started looking at this like a career and a business.
I will call this period of my trading career ‘STUDYING TILL MY BRAIN MELTED’…
So I started to read. I read books on the stock market, the forex market, bonds, mutual funds, government notes, atc… I read books on technical analysis, fundamental analysis, fib levels, astrology trading, W.D. gann, pivots, and any other topic I could find related to the markets. I downloaded and read over 700 books and papers on trading. I read white papers, essays, newspaper articles, etc… I watched youtube videos till my eyes watered. I used up dozens of notebooks, filling them with my thoughts.
I studied for, sometimes, 16 hours a day. I would eat, sleep, and live trading education. I went to every free education site I could think of. I watched all the free videos. I took all the free courses and some paid courses. I even listend to trading interviews while I slept (No Joke, I had a pair of headphones).
I felt that I was gaining ground so I asked my wife if we could put $2,000 of our savings in a live trading account. She was supportive and said yes and I started trading live money again in 2009. I did not lose my account but I slowly lost money. It was like a slow bleed and a long process. My equity was dropping each week still but I noticed something that happened. I was still losing but not as bad. Instead of losing my account in a single day, I was only losing a few dollars a day.
I needed something more. I needed a mentor to teach me, to show me the way to wealth. I guess I have spent thousands of dollars on mentor services over the years trying to find one that worked for me. I learned a lot of information but never learned how to trade from any one mentor. I started just picking up scraps of info here and there.
Some mentors were good and I learned a lot. Some were scam artists the likes of a criminal. Deciphering who was actually trying to help and who were scams became easier and easier.
I looked into signal services. Some were ok. Many were disasters that were most likely run by slick marketers instead of traders but I found that these signal services lacked something. The good one were still subjective and not black and white. They might say, “Buy this thing if this other one is doing something only on Tuesdays and Fridays if such and such is between these levels and if this is doing that.” Well if a trader has to decipher whether or not something is doing something, that is not a signal service. That is doing your own analysis.
The signal services I bought (there were about 7 I actually subscribed to) all lost money. Every single one of them lost money. What they posted on ther websites were absolute lies and fictional trades that were made up by some guy.
So I kept studying and searching and even though my trading began to improve a bit, I was still struggling.
This part of my journey will be called ‘DREAMS ACTUALLY DO COME TRUE’…
This phase of my journey was the best part. It began in late 2010 when my wife got involved. Now you must understand my wife and I are like 2 peas in a pod. We do everything together, are madly in love, and help each other with problems. She stands by me through anything. One day in 2011, she came to me and said, “Babe, I know you know how to trade. You are just trying to do what every one else is doing. Find your own way and do it. I’ll help you.”
From that day forward, we have worked as a team. I taught her some things. She taught me some things. Our eyes were opened and we never looked back. We began to back test our strategies like there was no tomorrow. We had meetings every week about our progress. We kept on track and eventually we became successful.
We have learned a lot through the years but some of the most important aspects of trading we have learned are things such as :
1. A trader can not, nor will not, follow the exact way another trader does things. Each trader has to find their own way.
2. A trader doesn’t need to follow all of the posted ‘RULES’ on the internet to become successful.
3. Trading forums have a gigantic amount of nay-sayers so beware.
4. Trading can be the most profitable business on earth. Listen to no one who says it can’t.
5. If some one says, “You can’t do that!” Turn around and walk the other way.
6. Do not boast about your winning trades uness you are willing to boast about your losers.
7. Always be thankful for everything, everyday.
8. Back Test every day, even if you have a great system. Keep your mind alert.
9. Turn off the talking heads on TV news.
10. If you want it bad enough and are willing to give it your all, you WILL achieve it!