Hi Mike,
My name is Assaf and I would like to get your advice if it is possible.
I’m 42 years old married with three kids, living in Israel and working as a software engineer. Currently I’m managing a group of engineers and making around $120K a year (in Israel this pretty good salary). I can see my career develops with HPSW, and I probably on my way to make 140-150 K in the next 3-5 years.
BUT…
My real passion is for the Markets (US markets). I came across William O’Neil’s book (how to make money in stocks) a few years ago and started to follow his methodology. I bought breakouts and tried to hold as much as I could….
Anyway, jumping to the present, my whole day is around the market. I wake up at 5:30 AM to read IBD and go over the charts for the trading day (starting at 4:30 PM my time), I started to eat better food and jog, thinking better physical fit will help with the markets. When I run, I hear audio books about the market, when I fly I read books only about the market.
A few months ago I read the book Trading in the Zone and started to try and work on myself and improve my trading. I’ve noticed that my trading became more short term – Swing for a day or two. I even tried a few day trades during volatile sessions (when the market can hide my mistakes….).
Two weeks ago during my evening run I started to hear your audio book “One good trade”. First let me say that this book is excellent and very inspiring.
The book got my thinking about my life:
I thought that most of the day I’m thinking about the market and waiting for trading, I thought about that I don’t have anyone to share a conversion about stocks in my work place, I thought that if I would won the Lottery I would change everything in my life except my family and my trading account……
But the most powerful insight came from a question someone asked me – “what would happen if you would never make it big in the market? When will you throw the towel and quit?” my answer was – I would never quit !!! even if I would have to trade a $2000 account I would put exactly the same time into it. I simply enjoy the process !!!
I thought that if I had no family, I would rather make minimum wage and trading the market than making $120K as a software engineer.
The next logical step was – I need to become a trader !!
First I went to my wife, and surprisingly she is 1000% supportive (she saw my passion and was ready for this for the last few years…) !!! She is willing to do whatever it takes !!
Second I came to realize (with the help of your book) that I need to get the basics of day trading.
Now, here is my question:
I know that I’m not the typical candidate for a trader, what is your experience with people like me (my age, foreign etc.) if you have one?
I know that I’m willing to do whatever it takes in order to become a trader !!! I’m willing to quit my job, go to NY for few months for training, not making Money for few months, putting in endless hours of studying the markets etc.
Since I’m betting my life here (and the life of my family), could you suggest a training for me? I’m looking for extensive training a lot more than the remote training you have on your website.
Any word of advice would be highly appreciated.
@MikeBellafiore
Only 13% are actively engaged in their jobs worldwide says this Gallup Poll.
You, my friend, are apparently not alone.
I cannot say I feel the same. Trading is hard. Trading is humbling. Trading can be psychologically exhausting. But it is always *very* interesting. Each day is new. There is always something to learn. Improve on. Trading challenges you to be your very best you.
You in the end should be responsible for your next decision. You have the most information. It’s your life journey. But I would advise you to SLOW DOWN!
Why the all or nothing approach?
Why not get trained, while staying in your job, trade on a simulator, and learn:
1) Do you truly love trading?
2) Do you have trading ability?
3) Can you find a trading edge?
4) How long will it take you to support your family?
5) What product, time frame and strategy is best for you?
Why not take a course like SMB DNA? This is an online training class where you can work, learn, simulate trade and gain answers to the questions above.
Or if stocks trading is not the product best for you, then Options Trading 101. Seth Freudberg, Director of SMB Options, transitioned from a former CEO of a publicly traded insurance company to successful trader. He is a role model that you can do it!
Or for those who only wish to make the smallest of commitments, our SMBU Ten Day Training Program.
As a dad I would not want my family to struggle financially while I was learning a new field as challenging as trading. Family is more important than trading….well anything.
These are suggestions on how you might begin your trading journey smartly while also protecting your family’s interests.
Thank you for sharing your story with the trading community.
Related Posts:
A Successful Trader Who Made a Late Career Change
Slow Down! The Challenge of Newness to Trading
“You can be better tomorrow than you are today!”
Mike Bellafiore is the Co-Founder of SMB Capital and SMBU, which provides trading education in stocks, and options. Bella is the author of One Good Trade and The PlayBook. He welcomes your trading questions at [email protected].
no relevant positions
