When I was in college, I had a friend named Tim James who was obsessed with one thing: staring at statistics on his cellphone. I still had no idea what he was up to at the time, but it piqued my interest. Tim was glancing down at his phone, as usual, as our lectures were ready to begin, and I questioned him about what all the graphs were about. He invited me to coffee and told me everything I needed to know. The following is a detailed account of his life.
His Beginnings As A Trader
Tim James was a stock and currency trader. He became concerned with financial marketplaces two years ago after seeing a group of international tourists transferring funds at an exchange office while on vacation. He examined the gleaming LCD, which presented today’s currency values for key currencies such as the USD, EUR, CHF, and others.
Every time he went to the exchange office, the exchange rates were shifted. Tim might have earned more of the home currency if he had exchanged his money that day because the euro was up versus all other currencies. He already had a reasonable grasp of the stock market at the time and decided to try his hand at trading. Now, it was time to open a brokerage account for trading.
Selection Of A Broker
At the time, Tim James had little knowledge of brokers, rates, leverage, or margin. He only realized he wanted a broker to begin trading. So he went online and created a trading account with the very first broker he found. It was the first blunder he made.
His initial broker charged huge spreads and gave him a lot of leverage, which destroyed his original trading account. He claimed that early in his trading career, he focused on very short-term timeframes, used a dozen technical indicators, and opened enormous account sizes.
“All those mistakes are normal among novices, and I wouldn’t have learned all the fantastic lessons I know today if it weren’t for those missteps,” he remarked.
Reading Books And Seeking A Mentor
He canceled his profile with the first company after blowing up his initial trading account and began to learn as much as he could.
He found a trading coach online, met with him regularly through Skype, and purchased a dozen of the most prominent books on technical indicators, principles, trading mentality, and risk assessment.
He said that his drive to become a financially successful trader was too large when I asked if he was considering quitting after his first trading failure. There was no way I was going to give up. I knew I could accomplish it; all I needed was a little more patience and a competent trading coach.
Second Trading Account – Break-even
“I felt ready to go live again for a few weeks of training and trading on the free mode,” he stated. He founded his second brokerage account with the fresh broker and began putting all he had learned over the previous few months into his trading.
He soon learned that he could maintain a break-even position in the market. He didn’t lose many games, and he didn’t win many either.
“I felt fantastic!” I thought it would only take a minor adjustment to my trading approach to turn a profit in the market,” Tim explained.
Unfortunately, he lost a substantial chunk of his account due to a poor trading decision. There was a lot of pressure on him to earn a profit in the market.
Third Trading Account – Unlimited Profit
Tim was devastated. One wrong decision killed his trading account. Fortunately, some cash remained in his brokerage account, so he added more to compensate for the trade’s losses. He made his last and final account on C4U Capital and started trading. Within 2 months this day trader made $39,344 in just 2 months. This was a huge success for Tim.
“Since then, I haven’t let fear or greed influences my trading judgments.” “Trading is a race, and I intend to stay in it for the foreseeable future,” Tim added.
His risk assessment rules were fine-tuned. He was finally able to experience continuous earnings in the market due to a small modification and switch to C4U Capital.
Tim’s tale has inspired many C4U Capital traders. In this field, he has a long history of failures and hard work. There are numerous such C4U Capital trader success stories. We learned from Tim’s narrative that you should always risk less than your prospective profit and keep your profitable trades going until you reach your profit target.