Senior Process Engineer
The same might be said of traders.
Aversion to risk and a hatred of losing money is perhaps the single most common characteristic of those who are consistently successful.
Just as no experienced pilot would dream of taking to the air without first filing a detailed flight plan, doing a thorough inspection of the aircraft and working through a checklist of pre-takeoff tests, no experienced trader pulls the trigger on a trade without knowing exactly why they are entering, at what profit or loss points they will exit and, above all, exactly how much money they are risking.
And it was just this attention to detail and emphasis on the basic principles that first attracted Australia based Nigel Cowburn to Daily Profit Machine.
59-year-old Nigel had recently sold his business and was looking to maintain and build his wealth during retirement. But putting the proceeds of a lifetime’s hard work on the line without thorough preparation was no part of his plan.
“It’s real money I was risking,” he explains, “Ben has helped to provide me with the fundamentals required to trade with confidence along with an in-depth analysis of each chart factoring probability, high conviction, and realistic profit for each trade.”
Just as importantly for Nigel, Ben’s style of options trading required no borrowing of money from his broker, or what’s generally called “margin trading.”
“It is important to me to only trade options with what I have, not what I can borrow,” he says.
If only more new traders adopted the same approach, there would be far fewer blown up accounts and sad tales of broken dreams.
59-year-old Nigel Cowburn of Brisbane, Australia, recently turned to trading after selling his business. Initially frustrated by the lack of opportunities in Australian stocks, he persevered. Since joining Daily Profit Machine, he has found it possible to trade profitably in the US markets, notwithstanding the late-night sessions this entails. Unwilling to risk trading on margin, Nigel has still found it possible to grow his small account rapidly by taking regular small wins. And with Ben Sturgill’s help, he’s now confident of becoming a truly independent and wealthy trader.
Retired Business Owner
The temptation to trade on margin is understandable, but it’s both dangerous and unnecessary.
Of course, trading with borrowed money seems like a great idea as long as you win.
You can make a much bigger profit than you could have done by taking a position size based on your own funds.
But if you lose, which even the very best traders do 30 to 40% of the time, you will owe your broker that money. And they will be quick to shut you out of the market if they suspect you may have difficulty in re-funding your account.
That’s why Nigel was wisely determined to start with a small and entirely self-funded account.
“I wanted to get back into trading and initially tried the Aussie market, which I found to be slow-moving along with minor gains compared to the higher volatility larger gains offered on the US market.”
And although Nigel initially struggled to find opportunities in the relatively small Australian market, one of the beauties of modern technology is that it allows people from all over the world to trade the most profitable stocks in every global exchange.
All that’s required is the right training and a determination to succeed, a quality Nigel has in abundance.
He quickly decided that Ben Sturgill’s options service exactly suited his trading preferences, allowing him to profit from the US markets. And he was not at all deterred by the fact that it would mean waking up to be at his computer between 11:30 pm and 3:30 am Aussie time.
“My decision was based purely on time in the market,” he says, “Ben’s daily trade can usually be done and dusted before lunchtime [EST]. He goes into great detail every day, both pre and post-trade, with an in-depth analysis video of the day’s trade. It’s a fantastic learning tool. His daily trading service is providing the backbone to boost my trading account that then will enable me to trade other services.”
Nigel’s hunger for knowledge now exceeds his desire for profits. Exactly the opposite attitude to that of many novice traders who rush greedily and unprepared into the markets with predictably disastrous results.
But while he is keen to diversify and add new weapons to his trading arsenal, Nigel is content to keep his live trading simple for now. That’s because he’s already enjoying some nice returns by applying one of the most important principles of success.
“My decision was based purely on time in the market. Ben Sturgill’s daily trade can usually be done and dusted before lunchtime.”
As a businessman, Nigel naturally understood that even without trading on margin, compounding means that regular small wins can safely grow an account at astonishing speed.
All that’s required is for the trader to make slight increases in his position sizes in response to each win, thereby increasing potential profits while incurring no additional percentage risk.
Placing just three to four trades a week, this incremental approach to trading has already enabled Nigel to increase a very small account by some $1,200. With a realistic daily target of 10 to 12% wins, he can expect this progress to accelerate in the months to come.
“Since joining, I have managed to increase my account by $1,200 in just 3 weeks.”
This simple strategy has made many cautious traders very wealthy indeed, and Nigel’s early success has already led him to reconsider his financial and personal goals.
Trading alongside Ben Sturgill, he’s already hitting his original target of making extra money during retirement. But now, his ambitions stretch far beyond that!
In time, he expects to use his knowledge to trade independently using a variety of different strategies. And he plans to compound his profits to establish a fund of substantial wealth for the benefit of his family.
For now, though, he has a philosophy that all new traders could usefully take to heart.
“Knowledge is power,” says Nigel, “and education is priceless. It’s just a bonus to make some money while learning.”
Raging Bull does NOT track or verify subscribers’ individual trading results and these individual experiences should NOT be understood as typical as or representative. Please see our Testimonials Disclaimer here: https://ragingbull.com/disclaimer.
Senior Process Engineer