This Advice Saved My Trading Career... and It Can Change Yours

[Trading With Larry Benedict]( This Advice Saved My Trading Career… and It Can Change Yours By Larry Benedict, editor, Trading With Larry Benedict “You’re going to get fired every day. But don’t listen. Come back tomorrow, and everything will be fine.” That was the advice I got back when I first started my career in 1984. I was a clerk in the pits of the Chicago Board Options Exchange. This was back in the days when traders would gather at a stock exchange and shout out orders in real time. At the time, I was around 21 years old and fresh out of college. But most floor traders didn’t go to college, which meant my colleagues had four years’ experience ahead of me. So I answered phones, wrote orders, and ran the orders out to the pit to execute them. Then I’d get back on the phone and report the fill to the customer. But it was easy to make a mistake. Back then, trades were executed with hand signals and yelling. And on the first day, I got thrown right into the fire. My boss gave me signals for what trades to do from the pit. I had a sheet to reference, but it was like having to learn sign language in minutes. I’d look up at the screens with the current stock prices, and it looked like scrolling gibberish. Inevitably, I messed up an order, and my boss went ballistic. He told me I was an idiot and fired me. Without another clerk giving me the advice above, that might have been the end of my trading career… But this experience taught me a vital lesson. And that lesson applies to anyone who wants to succeed in trading the markets… Recommended Link [Breaking News: Elon Musk Invents New Type of AI (Shocking)]( [image]( According to 30-year Silicon Valley and Wall Street veteran, Eric Fry… Who picked 41 plays that jumped 1,000%+… Elon Musk is about to shock the world again with [this new type of A.I…]( Providing wealth-building opportunities in the process. [Click here to see the details.]( -- The Power of Perseverance The next day, I got to work early. My boss walked in and had a cup of coffee and a bag of McDonald’s, like everything was normal. He started asking me what I did last night and was in a normal, upbeat mood. But that day, he asked me a question about adding fractions together. I didn’t know the answer. So I guessed. Bad move. I guessed wrong. He went ballistic and fired me again. Suffice to say, it was a high-strung and high-intensity environment. But as miserable as it was getting fired and coming back with my tail between my legs – I kept coming back. That perseverance made all the difference in the end. So, here’s my advice for anyone who wants to make it as a trader… Try, Try Again No matter how many times you lose money... make a mistake… or “get fired,” so to speak… Dust yourself off and figure out what went wrong. Then try again. Maybe you put too much money into a trade and couldn’t stick it out when the market got volatile… Next time, try putting just 2–3% of your trading money into the trade. When you have less money at risk, then it’s easier to ride out any turbulence. Or maybe you entered too many trades… and lost track of what was going on. Next time, start slower. Free Trading Resources Have you checked out Larry's free trading resources on his website? It contains a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Pick one stock or sector to focus on, and trade only that till you know it like the back of your hand. Specializing in a stock can help you spot trends and learn how it reacts to economic events. And so on. The important thing is to keep learning. Don’t let yourself get discouraged and give up. I got knocked down more times than I can count. But I got back up, every single day. That allowed me to succeed in the markets over a 40-year career, making millions along the way. And with my help, you can transform your trading… and your financial life as well. Happy Trading, Larry Benedict Editor, Trading With Larry Benedict [The Opportunistic Trader]( The Opportunistic Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.opportunistictrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. The Opportunistic Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-208-6550, Mon–Fri, 9am–5pm ET, or email us [here](mailto:feedback@opportunistictrader.com). © 2024 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](