The Most Important Lesson I’ve Learned About Building Wealth as a Trader

[Money Trends with Andy Krieger]( Welcome to Money Trends! If this is your first time reading one of our issues, learn more about us [here](. And if you have any questions or comments, shoot us a note anytime [here]( or at feedback@andykriegertrading.com. The Most Important Lesson I’ve Learned About Building Wealth as a Trader By Imre Gams, Editor, Money Trends I’ve coached more than a thousand traders since 2012. Some of those traders were already quite experienced. Others were new to the markets. The thing is, I always shocked the newbies… One of the first things I told them was: “I hope you start off your career with a losing streak.” Most of them thought I was joking. Then they saw I wasn’t smiling, and they realized I meant it. The truth is, if you want to be a trading winner, you have to be a trading loser first. This is something I learned through experience. Let me explain… What I Learned From My First Trade In my first ever trade, I bought Apple (AAPL) at around 20 bucks a share. That was back in the summer of 2009, when I was only 20 years old. I really invested a lot in this one… My father had made and lost several fortunes during the dot-com years, but he happily goaded me into buying more and more. He was also my source of funding for this trade. Every day I was glued to the Apple stock price. I watched in awe as my money quickly grew into a sum my 20-year-old brain could barely understand. I thought, “Wow, this trading thing is really easy. I’m going to make a LOT of money doing this over and over again.” I branched out very quickly. In addition to trading single stocks, I started trading futures, commodities, and foreign exchange (or “forex”). You can probably guess what happened next. Reality set in when I went on a long losing streak… and realized I had no idea what I was doing. I ended up burning so much money, I had to use almost all my Apple profits to cover the losses. I felt invincible and buoyed by my early victory. I thought every trade I touched would turn to gold. The market is, of course, the great equalizer. Humbled, bloodied, but not completely broken, I promised to put in the time to learn my craft. I knew I would come back stronger. I’ve shared this story with countless traders because of the painful lesson it taught me. Now, I’m passing this lesson on to you… Recommended Link [How To Retire Rich Off a Single “Boring” Stock]( [image]( Most people wouldn’t look twice at this stock, but it helped make this man rich… (Name and ticker FREE). [Get the details here]( -- The Key to Building Wealth as a Trader Trading is a marathon, not a sprint. The key to building wealth in this business is being able to stay alive long enough to see it happen. That means not blowing up your trading account at the beginning – or at any time. When I first met Andy Krieger, he told me he had been profitable for 33 years out of 35 in his trading career. That floored me. In an industry where hedge funds come and go, Andy’s longevity is remarkable. It takes a tremendous amount of self-control and discipline to come out the other side of losing streaks. Not to mention being able to resist overextending yourself when you’re on a winning run. And Andy’s returns weren’t the boring mutual-fund type of returns, either. There’s a reason he has a reputation as one of the most aggressive traders of all time. In 2007, for example, he returned over 300%. And in 2008 – when most investors were losing their shirts – he returned over 75%. But you can only get those kinds of returns with experience. Because, while trading can be extremely profitable, it takes more than luck. You have to learn the skills. Part of that learning is understanding that losing comes with the territory. How you handle the losing trades will be vital in helping you make winning trades. And, of course… It helps when you have someone like Andy Krieger in your corner. Regards, Imre Gams Editor, Money Trends --------------------------------------------------------------- Like what you’re reading? Send your thoughts to feedback@andykriegertrading.com. [Money Trends with Andy Krieger]( Andy Krieger Trading 55 NE 5th Avenue, Delray Beach, FL 33483 [www.andykriegertrading.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This email was sent to {EMAIL} because you subscribed to this service. If you no longer wish to receive emails from Money Trends with Andy Krieger, [click here](. Andy Krieger Trading welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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