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I was a top step arb clerk in the front month Eurodollar pit for 10 yrs before I earned my shot at trading. I didn’t want to fill orders. I wanted to trade. I knew nobody when I walked in the floor. No rich dad. I had to earn it. My boss backed me, I borrowed trading capital.
Clerking for one of the biggest brokers on the floor trained me to see and hear and compute a lot of info and act on it quickly. That stood me well as a trader. First 6 months I couldn’t make a nickel. Seat leases were $2800 a month. New wife and a new baby. Bartending at night
To pay the mortgage on our condo. My ex wife and I worked hard to give me the time to learn. The #nq_f was $100 a tick then. I had $251 in my account. Looking for backers or a clerk job, I met Judd Hirschberg @whitewavetrader. Judd was one of the best Yen and gold traders ever.
I had an opportunity to learn from the best. He was NOT cheap. I told him I had nothing left. He told me b4 I could trust me I had to trust him. I had not choice. He told me I could pay him 1k a week, but at the end of the month. I said ok, I had literally nothin left to lose.
We went to work. He taught me the ORB trade. A style of trading used for decades on the floor. He told me he would teach me a way of trading that would work in any market anytime in any place in the floor or off. It worked then and does now. He taught me to look read capital flow
He introduced me to his friends and the great generation of traders that came b4 me like the great @YraHarris and Lenny Feldman, Chuckie Reader, Vin Schrieber etc. true hall of fame traders. I asked questions and bugged em all as I learned. They were always happy to talk to new
Up and coming traders. They were always happy to share their experience. I rose to the top of my profession because of hard work as @petenajarian mentioned earlier. I never gave up. I traded that 10k into a lot more. My first 6 figure losing day hurt, but I was there the next day
My first 7 figure losing day(story I told on @AnthonyCrudele podcast #FuturesRadio) hurt a lot worse. But I was armed with the knowledge of those that came B4 me and after trusting Judd I learned to trust myself. 2 VIP lessons I learned that day was the market wouldn’t beat me &
I had to truly spend the time and the work to always keep learning. Not just TA, but also fundamentals-capital flow. I had to become not just a pit trader, but a real trader. I world and fought, I asked questions and continued to learn. After a divorce, business failures and MFG
Failing and other stuff, my wife and I were back to square one. I went back to the screens in my home office with nothing but my screens my computer and a notebook and went back to basics of th ORB. I went from 100+lots to 2 lots. I had to change my life. I had to figure it out.
I worked out, started to run, quit smoking, lost weight and ate better. I started to meditate and pray at regular times. I started with rituals that become routines that became strong good habits which helped me to trust myself again. I began to be profitable again.
We cut our lifestyle, moved from Lake Forest Il, to a more affordable home. We traded in the Benz’s for minivans. I was profitable again but I took it slow.The same as I did on the floor. When we needed it I drove Uber. Always terrified I would pick up old floor clerks or traders
As 2013 became 14 and 15 and on, I grew as a trader again. As the volatility grew I didn’t have to drive Uber anymore. I read everything o could, reconnected with my mentor and my floor and life coach Mickey Hoffman. I rebuilt my career against a lot of odds. 2 lots became 3 lots
4 lots became 6 lots etc. I learned that managing my positions was just as it more important then my entry/exit points. I was reminded of what I learned on my first 7 figure losing day, the market can’t beat me. Only I can beat me. I leaned to trust myself again
I opened old journals from the floor and applied all the knowledge I learned from true hall of fame trades. I stay in my line. I do the same thing day in day out. I don’t brag about having the high or low, because I know tomorrow I may not. It is not sexy, I don’t sound smart and
Sophisticated, I would like a trader. Talking to other trades. Nothing fancy in my play book. But the play book works. Tons of hours, lots of blood, sweat and tears and the willingness to NEVE stop punching stood me well. The love of my life being behind me even when most wouldnt
Gave me the strength to keep fighting. PLEASE, all new or struggling traders, PLEASE do NOT snatch defeat out of the jaws of victory. Tail it back, learn to trust yourself. Make the necessary changes in your life. Build good habits and restructure your life. Find a REAL mentor.
A mentor you can trust. A mentor that has the experience of trading in all kinds of markets. Not just one that has gone straight up for 10 yrs because of QE and stimulus. Read everything you can. Ask questions. Invest in your career and build your business one brick at a time.
Build your business one trade at a time. Make sure you are here for the next trade. Trade the price action as it is NOT as you want it to be. Be honest with yourself and don’t be afraid to fail. Scared money never makes money. Believe! Always believe. Never give up. Trust!
Last thing,for all traders,it does NOT matter how much you make or have made it what stuff U have now It only matters what you have when you stop trading for income! When you retire-THEN and only then does the money you have matter. Take every day 1 trade at a time. I will be OK!
One last thing-I am VERY grateful for the community we have built in The Pax Group. We are recreating so much of what was good about my experience learning on the floor. We are real traders learning from each other. From the wealthiest traders to those on the last 1k.
We are all the same. We all help each other. Sharing ideas and information is exactly how I learned from more experienced or more successful traders. We do that everyday. So I am grateful for you all. Our room, our group is a real community. Keep punching. Never give up.
