Construction Industry Professional
Health Insurance Executive
Become a stock trader, and you can work the hours you choose from the comfort and safety of home, or from anywhere in the world with a reliable internet connection.
You’ll answer to no boss and be spared the misery of a daily commute. You’ll be running your own business. One which doesn’t require employees, has low overhead, carries few, if any regulatory burdens. A business you can start with just a few hundred dollars.
Most exciting of all, of course, is the potential financial rewards of becoming a successful stock trader can be spectacular.
Full-time trader, Jeff Forehand, sums it up nicely: “No more working 12-hour days six days a week, plus extra hours on holidays. I enjoy my financial freedom and time with friends and family that I didn’t have before. To me, that’s priceless!”
It’s little wonder that so many entrepreneurially-minded individuals are attracted to the idea of trading stocks and options as a home-based business.
Unfortunately, the sad reality is that many of them fail.
It’s often said that 90% of all traders fail and there are industry insiders who suspect the real figure may be even higher. No matter what the failure rate may be, a substantial percentage of would-be traders who set out on the road end up quitting.
This could be because they blow up their trading account and run out of funds, or they may simply become disillusioned by the losses, which are an inevitable part of every new trader’s experience.
Full-time trader, Jeff Forehand, has been trading under the guidance of Jeff Williams for years and has enjoyed much success. He also works as a moderator for Jeff’s SuperNova service. Although the monetary rewards he receives from trading are more than welcome, it’s the freedom of the trader’s lifestyle, which Jeff Forehand appreciates the most. Grueling 12-hour workdays have been replaced by quality time with friends and loved ones, while frequent family vacations provide even more motivation to continue mastering his craft.
Raleigh, North Carolina
With such a high failure rate, it’s reasonable to ask whether a person of perhaps no more than average intelligence, with no background in finance, could earn a living trading the markets?
Well for Jeff Forehand, who resides in Raleigh, North Carolina, the answer to that question is an unequivocal “YES.” “Anyone can be successful at trading,” he said bluntly, “All you have to do is invest in your education.”
He certainly practices what he preaches. For Jeff, education is the real key to trading success. Those who prosper don’t do so because they have some mysterious genetic aptitude or a gift for mathematics. They don’t have a “sixth sense” or a so-called intuitive feel for the markets. Moreover, in most cases, these traders don’t have a big war chest of funds with which to experiment.
Overwhelmingly, exceptional traders succeed because of their mindset, because of their drive to persevere through the inevitable losses. Above all, they excel because of their determination to get the best possible trading education from the best available mentors.
“I chose Jeff Williams because he was very genuine in wanting me to succeed. He’s this way with all his Supernova members. Very easy to understand his logic for trading the markets.”
Getting a comprehensive grounding in trading involves much more than merely following along with a teacher and placing the trades he or she recommends (although that’s not a bad way to start). It means new traders need to learn how to design their own trading plans and ensure that every potential trade opportunity fits within those plans.
Doing this requires far more than just being able to find potential opportunities and set-ups. It means planning and executing each trade in detail, including entry and exit points, profit targets, the required risk: reward ratios, and the necessary stop losses.
It’s just this kind of experience which Jeff Forehand has relished since he joined Jeff Williams’ trading service some years ago. Although he has enjoyed impressive profits from more wins than he can mention here, Jeff attaches far more importance to having learned how to trade independently.
As he puts it: “Now I can find stocks to trade on my own, how to plan that trade, and trade that plan. My mentor [Jeff Williams] is very thorough and easy to understand as he live streams his lessons and trades. Now I’m able to trade for a living!”
Of course, no amount of technical knowledge and instruction can guarantee that every trade will be a winner. No matter how good his plan, every trader must expect his share of losses.
But here again, the mentorship provided by SuperNova has been crucial. As Jeff explains it: “On the flip side, if a trade goes against me, no worries, Jeff has taught us how to manage the loss on that trade, stick to my stops and keep the loss small to preserve my trading capital.”
“Now I can find stocks to trade on my own, how to plan that trade, and trade that plan. My mentor [Jeff Williams] is very thorough and easy to understand as he live streams his lessons and trades. Now I’m able to trade for a living!”
Truth be told, there are many trading strategies and indicators which have the potential to deliver profits, but none will work for long without proper risk management. This involves much more than risking only a predetermined proportion of a trading account on each trade or ensuring that stop losses are accurately placed.
It’s at least as important to cultivate the right emotional attitude towards losses. Becoming angry, anxious, scared, or determined to “make it back” right away almost guarantees poor decision making and potentially disastrous losses.
Although Jeff’s “no worries” attitude may seem too casual when real money is on the line; in fact, it’s the ideal to which all traders should aspire. Note: Not worrying is not the same as not caring.
Every losing trade needs to be carefully and dispassionately investigated for any lessons which it may have to offer us. In other words, every trade should be seen as a valuable learning opportunity.
“Once you learn how to trade stocks successfully, nobody can ever take that away from you.”
This kind of attitude towards risk and loss is indispensable if a trader is to achieve true independence, which both Jeff and his mentor cherish deeply. “Once you learn how to trade stocks successfully,” says Jeff, “nobody can ever take that away from you.”
Jeff has taken this maxim so much to heart that in addition to his own trading, he now works as a moderator for the SuperNova program. He takes great satisfaction in helping new traders get a solid footing on their paths to financial freedom.
Do you have a Raging Bull success story to share?
Construction Industry Professional
Health Insurance Executive