3 - Something Magical Happened
Welcome back… sorry to leave you hanging
Here’s a quick recap...
It’s 1992 and I learned of George Soros’s trade that makes a billion dollars shorting the British Pound...I’m determined to learn how all this works.
I harass anyone who will take my call until I finally find a broker at Lind-Waldock who dumps a couple of thousand pages of ‘how to’ guides in my lap.
I’m forever grateful, and wish I kept his name.
Now I have somewhere to start.
I explain to Lisa my then girlfriend and now wife, that I need to follow my dream of becoming a currency trader.
I have no job, and I have no plans to get one.
I tell her that I fully intend to immerse myself in learning how to become a trader...
Whatever it takes, no matter how long it takes.
What that means, is, if she wants to keep this relationship going… well… she’ll just have to pay the bills.
Did I mention that we are still married ? So that’s a good sign .. right...
A supportive partner is essential in this business. I’ll expand on that later.
At this point in my life I’m a young man with no job, big dreams and a very supportive girlfriend..
But is that enough?
What am I missing that will actually allow me to earn a living, make money, get rich, or build a fortune as a trader…
Oh ya.. I still have no clue how to trade.
On the bright side all of the hosts of CNBC now feel like personal friends of mine..
We have breakfast and lunch, sometimes even dinner together.
My friends and family are confused, even worried.
To them I gave up a (promising ?) career in real estate to stay at home watching the business TV channel while my girlfriend went to work.
Ya.. there were a lot of tough conversations, especially with my dad who's biggest financial play was moving the money from the mattress to a T bill.
ok not quite..but my dad really could not understand a business where... you built nothing, made nothing, helped no-one, and owned nothing.
Yep I told him, that’s the beauty of being a trader… please be patient with me
And he was.
Looking back, I’m amazed at how patient and supportive everyone was.
After all this was 1992!
Nobody had heard of day trading, fewer even knew about currency trading..
Sure .. farmer in the Midwest knew all about hedging their crops in the commodities markets.
But to my friends and family tucked away in Montreal, Canada, it was an industry that didn’t even exist.
The photo copied manuals, referenced text books, and those I was able to find at the McGill University campus bookstore
For 8 months, I studied and studied and studied even more…
And then something magical happened.