How Catching a Last-Minute Flight Changed Kevin's Life
A love of technical subjects and a fascination with visual patterns are certainly considerable advantages when it comes to learning to trade.
So much so in fact that Kevin has often lamented that he didn't become aware of the tremendous opportunity the markets offer at an earlier stage in his career.
But that doesn’t mean it’s all been plain sailing, far from it.
Kevin was so determined to get started in the markets that he used some precious time off from work to take a red-eye flight to the RagingBull Traders Summit in Orlando.
And he was happy he did. When he got back home to Texas, he had some great ideas about how to accelerate his progress through the learning curve.
"I asked myself, what can I do that would let me earn as much per year as I'm earning the day I retire? The answer was stock and options trading."
Why Playing “Follow The Leader” Doesn’t Always Work
Although Kevin enjoyed some early successes, as many beginners do, a run of losses made him realize that he was “following more than learning.”
It’s a common experience. And one that goes to the very heart of how any skill is truly learned and mastered.
Golfers, for example, are notorious for devouring instructional books and videos in industrial quantities. But as useful as this can be, it’s no good unless they’re prepared to invest a similar amount of time on the course and driving range.
Likewise, no matter how much theoretical knowledge you may acquire, no matter how high you might score on a written test on candlestick patterns or risk management protocols, the only real way to learn to trade is by trading.
Live Practice in Real-Time: The Best Way To Learn
That’s why all good teachers, Jeff Williams, included, insist on the importance of paper trading on practice accounts.
And the beauty of virtual trading, of course, is it allows you to get used to making rapid decisions in real-time without risking any real money.
Devoting enough time to putting in the repetitions, as athletes say, and the recognition of patterns and placing of entries and exits quickly becomes second nature, removing much of the emotional stress that’s the real reason, so many new traders fail.
“I learned how to dig deeper and do the work needed to really learn the right way,” is how Kevin puts it, “had I paper traded, I would not have needed to rebuild my seed money. And I could have saved myself a lot of stress!”
“I was lucky enough to get time off at the last minute and took a red-eye flight to the Traders Summit in Orlando, where I got some great ideas about how to accelerate my progress.”
Racking Up a $6,200 Win On a Single Trade
Paper trading is indeed vital for beginners starting with limited capital. Still, even the most successful and experienced traders would never think about risking real money on a new strategy or indicator without first thoroughly testing it in a virtual account.
This new, professional approach to the markets is paying real dividends for Kevin, leading directly to several profitable trades, the most notable being a $6,200 win on VAL [Valaris plc], a technically-challenging swing trade placed at the close on a Friday.
“My most recent winner was a Weekend Wiretap of VAL. I cashed out this morning for about $6,200 after placing the trade on Friday at the close of the day.”
Hard Work And Practice Build The Confidence To Conquer Fear
Sure, a $6,200 win is a great result. But much more important in the long run will be the confidence that Kevin’s new approach to learning and practice has brought him.
“I have now gained a lot of knowledge that has replaced my fear and hesitancy,” he says, “I feel that even if/when I make a mistake, I recover quicker than ever and now have the ability to restart from almost nothing and can rebuild quickly. That tells me the hard work and effort, along with the systems I’m using, are indeed working!”
Not too long ago, Kevin’s goal of retiring early with enough consistent trading income to replace both his own and his wife’s regular salary seemed like a mere pipe dream.
But now, with his new approach and renewed confidence, it won’t take long for his dream to become a reality.