Real Estate Broker
Systems Security Engineer
Not too long ago, if you wanted to make a living as a stock trader you had to work for a Wall Street brokerage, or at least find a job at some major financial institution.
But let’s say you just wanted to cash in on that hot stock tip you got from your neighbor. Well back then, you’d have to call your broker, place an order, and let him execute the trade for you.
To make things even more frustrating, the most up-to-date market information you get your hands on was the financial section of the newspaper, or at best, some “advice” from your broker.
The problem is, stockbrokers earned a commission on every transaction. The broker charged a commission whether you made or lost money. In other words, he may or may not have had your best interests at heart.
That’s why not too long ago, making money trading stocks was a slow and often perilous process.
Larry Morsette lives in rural Montana where he works as the director of a local construction company. His goal is to become a better stock trader, so he can enjoy more quality time with his children and grandchildren while building a better financial future for his family.
Box Elder, Montana
The Trader’s Council
These days, just about anyone with a connection to the internet can access all the information they need to make educated decisions when it comes to stock trading and investing.
With a simple click of a mouse, you can buy or sell stocks, options, commodities and more, in a matter of seconds. You can even set up your trades to be executed automatically while you’re at the beach with your family.
Where you live doesn’t really matter anymore.
Who could ever imagine that someone living on a farm in rural Iowa could execute trades as fast as a trader living in Manhattan’s financial district?
Thanks to modern technology someone living just about anywhere can generate a nice daily income trading stocks and options while building a strong foundation for a brighter financial future.
Larry Morsette is an excellent example of an active trader who lives in what people living on the coasts call “flyover country”.
“I live in Montana, right next to the middle of nowhere,” says Larry.
The director of a construction company, Larry started trading small-cap penny stocks about four years ago during his spare time.
“Yeah, I won some and lost some, but never had any real consistency. Looking back, I realize that I was just throwing my money out there hoping for blind luck. To me, the hardest part was knowing when the heck to get out of a stock,” he says jokingly.
“The truth is, I never had much of a problem getting in at a good price. The problem was I was looking to make a killing on every trade. Or I would try to hold on to a stock until it came back after the price fell.”
“I won some and lost some, but never had any real consistency. Looking back, I realize that I was just throwing my money out there hoping for blind luck. To me, the hardest part was knowing when the heck to get out of a stock,”
One of the most common conditions affecting many traders, especially beginners, is the fear of taking a loss. Even a small one.
In the beginning, Larry was no different. “I was being too stubborn and wasn’t willing to take a reasonable loss. Unfortunately, on too many occasions, I’d take a catastrophic loss. Or I’d just end up holding worthless stocks that had just shriveled up and died,” he says.
“Eventually I realized that penny stocks just weren’t cutting it for me. I would monitor Blue Chip Stocks on the financial channels and read about them on the net, but I was trading only penny stocks. That’s when I discovered options. Trading options was something I was really interested in, and I wanted to learn more.”
Larry continued, “I needed to take my trading to another level. I was already a member of PennyPro. I knew and trusted Jeff Williams. His voice was like a comforting presence for me, so I just followed him to the next logical step. That’s when I was introduced to Davis Martin and options trading.”
“I quickly joined Trader’s Council and learned everything I could. Early on, I took two bad losses, but I soon learned to follow and trust Davis. He taught me how to enter a position, and when to exit. The most valuable thing I’ve learned from Davis is to TAKE YOUR PROFIT WHEN IT’S THERE!”
“I needed to take my trading to another level. I was already a member of PennyPro. I knew and trusted Jeff Williams. His voice was like a comforting presence for me, so I just followed him to the next logical step. That’s when I was introduced to Davis Martin and options trading.”
When asked what kind of results he’s been getting, Larry said, “I’ve hit some decent returns. No home runs yet, but lots of singles and doubles. My biggest trade so far was a $682 gain on MSFT calls thru earnings. I’m trading a small number of contracts until I can build up my account and can get into bigger positions.”
Although it’s not recommended, Larry took some risks, so he could learn faster. “I know everyone says to take it slow and learn, learn, learn before jumping in too deep. I hear all the time about paper trading before diving in, but I felt like I had to have some skin in the game. So I started trading after I learned a bit. That was probably not the best move, but it’s what I felt I needed to do.”
“My biggest trade so far was a $682 gain on MSFT calls thru earnings. I’m trading a small number of contracts until I can build up my account and can get into bigger positions.”
As a member of The Trader’s Council, Larry Morsette feels good about learning to trade stocks and options from experienced mentors like Jeff and Davis. Mentors with a proven track record of success.
“It’s giving me hope that one day I can retire and make a living exclusively from trading,” he says. “Although my life hasn’t changed significantly yet, the dream is there and now I realistically believe I can achieve my goals.”
Like so many of our members, Larry is seeking freedom. “Ultimately, my goal is to become self-supporting in trading, I want to have the freedom to focus more on my children and grandchildren while building a better financial future for us all.”
Do you have a Raging Bull success story to share?
Real Estate Broker
Systems Security Engineer