What are you doing in the next 48 hours to trade better next week?
This week, we compiled three resources that you have to check out. If you do, we promise you'll be in a better place when markets reopen.
Don't just take our word for it; listen to hedge fund manager and billionaire Paul Tudor Jones, who said, "The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge."
1. Path to Become a 7-Figure Day Trader
Typically, we like to keep these recommendations below one hour in total. But this interview with SMB Capital's Mike Bellafiore is so good that we couldn't keep it off this list. Mike runs a proprietary trading firm in New York City and has trained and turned hundreds of traders into successful day traders — some of which have gone on to make 7- or 8-figures in a single year. Listening to Mike, you get a bit of a blueprint of what it takes to be a consistently successful day trader. And it's something that we talk about a lot: process.
Run-time of 69 minutes.
2. Building a $30K Futures Account into $80 Million
The smallest trading account that we offer at TopstepTrader is $30,000. Many people may not think that with that little buying power they can do something incredible.
Michael Marcus, a trader featured in Jack Schwager's Market Wizards, puts that belief to shame. Not only did he do well enough to make a living, but he built a $30,000 trading account into a remarkable $80 million — all the while taking out living expenses.
If you don't know this story, you have to check it out. Read time: 5 minutes.
3. And the Opposite is Also Possible
If the story of Michael Marcus teaches us what is possible, we should also be reminded of the opposite. And there is no greater story of spectacular trading success to failure than that of Jesse Livermore.
The Crash of 1929 made speculator Jesse Livermore one of the top 10 richest men in the world. In today's dollars, his wealth neared $1.4 billion — or $100 million at the time. Within five years, he squandered it all trading and filed for bankruptcy. Fortunately, his story was captured in Reminiscences of a Stock Operator and Jesse Livermore — Boy Plunger for us to learn from.
Read time: 3 minutes.
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