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Weighed down with a staggering $150,000 of college debt, this graduate student from Miami Beach, recently stumbled across Jason Bond Picks by chance and used all the money she had to join Jason’s program.
She was ready to make an immediate start in the markets, despite, as Breanne freely admits, “I had no idea what I was doing.”
“I thought I’d try today as my first day and see what I could do,” Breanne says cheerfully. And while her honesty is refreshing, it’s hard to reconcile with the advice of trading educators who traditionally advocate longer periods of study and practice before placing your first live trade.
So isn’t Breanne’s leap before you look approach doomed to end in heavy losses, possibly leaving her in an even more distressed financial situation than before?
Graduate student Breanne Taylor of Miami Beach, Florida, was struggling financially and had never thought about trading until she stumbled upon an ad for Jason Bond Picks. Despite having no previous knowledge, she was intrigued enough to give it a go and, to her amazement, made a profit on her very first day in the markets.
Miami Beach, Florida
Breanne’s confession of ignorance might sound alarming, but the truth is, technical knowledge is only one weapon in the armory of a successful trader. And it’s probably not the most important one at that.
The real keys to long-term success are emotional control, self-discipline, and the ability to cope with stress and anxiety. And these are not qualities that can be developed on a practice account, much less from the study of textbooks or instructional videos.
The only real way to learn to trade is by trading, and that being so, there are strong arguments for getting started on a live account as soon as possible.
In this way, you avoid the “paralysis by analysis” that has many new traders so overloaded with technical information they find themselves unable to pull the trigger on any trades at all.
For Breanne, by contrast, following an experienced mentor like Jason Bond has taken care of the technical aspects. At least in the short-term. Having a mentor allows her to trade live with relative safety and learn from experience starting on day one.
“I’ll graduate next year with $150,000 in debt as a new school psychologist. I’ll need a lot more money than I’m seeing for beginning salaries if I’m going to pay off my loans.”
And while it’s true that the boldness of Breanne’s approach might not suit everyone’s temperament, even for the more cautious, there’s much to be said for getting into the markets at such an early age.
Unfortunately, many college graduates like Breanne come to realize that the age-old promise that a degree would be their golden ticket to a lifetime of secure, well-paid employment can no longer be relied upon.
While the rise of the digital and gig economies has delivered a wide range of opportunities (trading included), it has also led to a bewildering pace of change and a pervading sense of insecurity.
Moreover, professional salaries have conspicuously failed to keep pace with the soaring costs of getting an advanced degree. And this is why many young people are leaving high-priced universities with little hope of repaying their student loans through a traditional career.
Like Breanne, many have realized that they will need to supplement their income and professional qualifications with a lucrative skill, such as trading if they’re ever to enjoy the affluent lifestyle to which they aspire.
No matter what the reason for becoming a trader, there are several good reasons for getting started sooner rather than later.
First of all, the sooner you start trading, the more time you’ll have to make money – potentially lots of money. You’ll also have more time to recover from losses and setbacks that are an inevitable part of a trading career.
Furthermore, learning to trade is far less stressful when you don’t have the weight of a mortgage or a family to support. Traders who can start young often have the energy, optimism and self-confidence needed to learn new techniques and apply them consistently.
From a purely financial point of view, older traders who suffer significant losses may have little option but to quit if they don’t have enough savings or income to fall back on.
Younger traders, on the other hand, have plenty of time to replenish their funds. There are many instances where young people have recovered from blown-up accounts and still became wealthy traders.
Starting young also means you’ll have more time to study and practice, both of which are essential to the development of trading mastery.
Most successful traders will agree that having a deep understanding of the endless intricacies and complexities of the markets requires a lifetime of study.
“I took almost everything I had and joined Jason’s service. I took the rest and opened an account. I had no idea what I was doing, but I thought I’d try and see what I could do.”
That’s not to say that you can’t start making winning trades with a few simple setups and strategies. However, the more you learn, the more chances you’ll have to score profits.
Your experience as a trader will also become more enjoyable.
Of course, all that lies in the future for Breanne, but the results of her direct approach are already encouraging.
On her very first day trading with Jason Bond Picks, she split $300 between Jason’s suggested trades of the day, Overstock.com Inc. (OSTK), GLU Mobile Inc. (GLUU), and ZAGG Inc. (ZAGG), returning a small profit of $13.00.
Of course, $13.00 is not in itself a significant sum, as Breanne is well aware, but it helped open her eyes to the potential rewards trading can offer… even for rank beginners.
“Before work this morning, I read your emails and invested every penny I had in your 3 Stocks to Watch. Granted, it was just shy of $300, but I made $13 in trading profits! $300 is not a lot, and neither is $13, but it’s a start.”
“$300 is not a lot,” Breanne acknowledges, “and neither is $13.00. But it’s a start. I think it’s successful for my first day, considering I really know nothing at all.”
And as odd as it may sound, this awareness of her lack of knowledge is a great asset for this young millennial. Few things are more dangerous for new traders than the mistaken conviction they know it all, or that a few early wins mean they have become highly-skilled practitioners.
So, although her appreciation of her current limitations hasn’t prevented Breanne from setting ambitious goals, it does mean that she’s realistic about the effort that will be required, as well as the timescales involved.
“Hopefully, someday I’ll make some decent money,” says Breanne, “and can quit my weekend job. I’m hoping to try and grow to $3,000 a month in six months, so I don’t have to start working next school year,” she adds, “I know it’s a lofty goal, but I have faith after today that it is possible.”
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Certified Public Accountant
Construction Industry Professional