So...this is my first blog post on here. And it may be a long one. So please bear with me.
A little about myself first: I'm 38 years young and have been married for ten years to my incredible and supportive wife. I have two wonderful children. My son is 7 and my daughter is 4. I have been working the healthcare industry for 20 years now, and it's been a rewarding career. I've held numerous positions in my employment, and the pay has been pretty decent. But one evening earlier this year, I had en epiphany that actually woke me up at nearly midnight.
I had spoken to my mother's boyfriend a few days before. He's about 15 years older than her, and he has been retired since he was my age. He INVESTED in penny stocks during his working life, and made many sacrifices to get to where he is today. He readily admitted that he drove a POS car, lived in a POS apartment, ate beans and rice, and threw nearly 2/3 of his paycheck at his portfolio. He reaped the benefits of his sacrifices before he was 40. This was before all the technology the we traders use today. I mean...he literally had to call his broker if he wanted to liquidate any of his holdings. The lifestyle he lives isn't lavish at all...but he does live on the first fairway of a golf course in rural Virginia, and he owns his home, his cars, and his three motorcycles free and clear. Financially independent. Nice.
My epiphany....why can't I do that? What are the obstacles? What are my support structures? Where do I go to learn? How do I get started? All these questions circled around in my head. That night, I went downstairs and just sat in my living room and just thought silently to myself. Soon after, my wife came downstairs. She sat down next to me and asked if I was OK. I told her that no...I wasn't. I wanted more for her and the kids. I wanted more for myself. I wanted more for all of us...for our friends and families...for the community that we called "home". When I explained to her what was going on inside my head and heart, she gave me her unconditional support. She said "You are more than smart enough and dedicated enough to make this work." So, knowing that every journey begins with a single step, I started crawling to learn how to walk.
I Googled all sorts of combinations involving words like "penny stocks", "investing", and "day trading". A few articles down the list was the money.cnn.com article about Tim Grittani and how he turned $1500 into $1 million in three years. Holy $hit....amazing. I wanted to learn more. From there, "Tim Sykes" was entered in the search box. That was all I needed to see to begin my learning process.
From there, I have taken all of my free time that I possibly have to learn, learn....and learn some more. I've read countless articles on the success of these two traders, and many others such as Michael Goode and Gregg Sciabica. I joined profit.ly to get inside the minds of other traders and to study trading patterns that have made them profitable. In other words, if you want to be a millionaire, study a millionaire's habits. Study what makes them tick...how they analyze their trades...their work habits. This is WORK. It's not easy. But these guys make it so much easier on newbies like myself. They are showing all of us their examples of what helped them get to where they are today. And for that, they should all be appreciated and thanked. They are making our roads so much easier, because these are the guys who knocked down the trees and cleared the proverbial path for us. A lot of these guys work countless hours to educate us all. Appreciate that wholly.
My advice? Don't jump in until you're ready. Study your ass off. Work your ass off. Rest your ass off. Don't take the first $200 you have lying around and try to double it in your first trade. Fund your account with a little more. This way, you take less of a chance to blow up your account in a few trades, and you can also maximize your position strength. It's Ok to sit on the sidelines and watch. Learn from others. Take copious notes. Ask questions. When the time is right, you'll know when you're ready. Sacrifice some of the present to take a hold of your future. I'm not jumping in until I feel comfortable and the moment is perfect for me. Invest in yourself and your tools. Fill your toolbox.
As the great Henry Ford once said, "Whether you think you can, or you think you can't--you're right."
Best of luck to everyone. I'll see you in the Millionaire's Club.
Good read!
Well said, thank you for sharing!!!
Geez, I could have written pretty much the same post, it's nice to see I'm thinking along the same lines.
Wow, great post. I second all of your advice 100%. Too many people think that all they need is $200 and a few lessons. I'm right there with you...study, practice, ask, read, and study some more. I equate this to getting a high level certification where you have to put the time into studying to get something out of it. Thank you SO MUCH for sharing this with us...and I'll be right there with you entering the Club!!
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