My Trading Journey
The ups and downs of my 27 year trader career. I laughed – I cried – I lost and  made a lot of money.

6 - The The Wheels Fell Off

Hey thanks for tuning back in...Here’s a quick recap…

It’s 1994, I’m married to Lisa, and I’m officially a trader.

I’m actually earning a damn good living at this and it’s blowing me away.

My golf handicap stands at 17.

I now decide that earning a living, a good living, just isn’t enough.

I want more… a lot more..

And to do that I need to widen my reach.

I need to trade more products.

I subscribed to every newsletter and alert service I can get my hands on..

The Gartman newsletter, The Hightower report and several others.

Between the hours of 5 and 7 am, my fax machine (remember those) prints steadily.

I spend at least 45 minutes every morning flattening out that annoying curled fax paper..

Still aggravates me when I think about it

And then… I start to do 2 things I’ve never done before... 2 really stupid things

1 - I started trading based on other peoples recommendations without doing my own research

2  - I traded products that  I knew nothing about. …

I traded, corn, wheat, lean hogs, pork bellies etc…

If you started reading from my original post, you’ll recall that I studied Macro Economics in college.

The effect of currency fluctuations based on changes in interest rates, was something I studied and understood. 

What the hell did I know about corn! Absolutely nothing

What in g-ds name made me think I could trade against a farmer with hundreds or even thousands of acres of corn..who regularly hedged in the futures markets?

I called my broker and told him I wanted to place a trade on Lumber.

LUMBER!  he barked back at me.. You know who trades LUMBER …. NOBODY!

He was right, they market was so thin .. I clearly had not done my research

He refused to take my trade, told me I was off the rails ..

And he was right.. Corn, wheat, hogs etc… I was losing money hand over fist.

My system that worked so well on currencies was not transferable and it cost me a whack load to figure that out.

To this day I have a big hand written note on the pegboard in my office.

It just says LUMBER.. I know exactly what it means ..

And I heed that warning every day

Oh..by the way,  I have several other notes and warning on my pegboard.

Want to know that they are?… you’ll have to tune in tomorrow to find out

Just so you know..I have No products or services of my own to sell. 
As a veteran of the industry however, I have connections with the highest quality financial educators and publishers all over the world.
I’d like to share with you some of the best and most potentially profitable moneymaking systems and tactics in the market right now.
Here’s three killer presentations on making potentially HUGE money from some valued and respected colleagues of mine.
You can see them here.

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