| Hey Trader, I hope your week is off to a great start. Last Thursday, I came across an article that hit me pretty hard… Especially as a parent heading into the weekend of Father’s Day. I’m sure multiple outlets picked up the story, but here’s what the headline read in Forbes:
This heartbreaking article detailed the events surrounding Alexander Kearns, a 20-year-old college student who was living at home with his parents during quarantine. Like millions of others, Alexander took up trading during the pandemic, using the brokerage firm Robinhood. As you can see from the headline, he ended up taking a significant loss after dabbling in options… And, well, I guess he just couldn’t see a way out of such a massive debt. I mean, talk about a tragedy. My heart sincerely goes out to Alexander’s parents, and my prayers are with his family during this time. But here’s the thing… This incident raises a very important point about trading… Especially for newer, less experienced traders. Now, the retail trading industry has exploded in the months since the coronavirus hit. In fact, the article states that this particular brokerage, Robinhood, added 3 million new accounts in the first quarter of 2020 alone. Of course, there’s nothing wrong with taking up trading. But when inexperienced traders start applying leverage and risking large sums without sufficient training, backtesting and practicing in a sim account… ESPECIALLY in the extremely volatile conditions we’ve seen so far this year… It’s just too easy to find yourself in a deep, deep hole. Many of us have been there in our own trading journeys… And I know plenty of folks who have blown up more than one account along the way. Now, I’ve talked before about how losing is simply a part of the game. I mean, anyone who’s ever become successful at ANYTHING has experienced failure at some point. But when it comes to trading, one of the most critical factors in long-term success is managing risk. That means never betting more than you can stand to lose on any trade… EVER. The problem is that, just like in a casino, it’s easy to get “on a roll” even as a new, inexperienced trader… And to consequently end up betting the farm… and LOSING it… in the blink of an eye on a single bad trade. That’s why you’ve also heard me talk about the power of “base hit” trades. Too often, I see traders looking for that “homerun” that’s going to net them hundreds of thousands of dollars in a single go. Now I’m not saying that it’s not possible to hit a homerun trade. But what I am saying is that the safer, more sustainable strategy is to focus on making small, consistent winning trades… And building your account through the power of compounding. Because the fact is that if you truly understand the power of compounding, you NEVER need to risk too much on any single trade. Now, the unfortunate reality is that Alexander is not the first person to lose big on a trade… And, even worse, he won’t be the last. But my plea to you is that if you are a newer trader… Or if you’ve been trading for a while and have found yourself in a similar situation… Not only can it protect you from a devastating loss, but it can actually help you build up your brokerage account a lot faster than you might think. Click here to watch the in-depth tutorial at no cost… And be safe out there. Talk soon, Dustin
A Special Father’s Day Tribute From The Insider Report Over the weekend, we celebrated Father’s Day. And for Ross Givens, it was a particularly tough one. See, Ross lost his father to MS only seven weeks ago… And he’s made a very special video tribute to honor not just his dad… But all the fathers out there working hard to provide the life they feel their families deserve. Click right here to view the video… And find out how we’re celebrating Father’s Day all week long here at Market Traders Daily and the Insider Report!
ONE DAY ONLY To Get Your Hands On This Deal It doesn’t matter what type of trader you are… What instrument you prefer to trade… Or what timeframe you like to trade within. The bottom line is that Hawkeye can help you spot high-probability, low-risk setups in any market condition… On ANY instrument… In ANY timeframe. How? By using a proprietary, volume-based algorithm that performs more than 300 calculations per bar to tell you precisely where the market is… And where it’s heading… So you can stay one step ahead of major market moves. Now, if you haven’t yet watched our free training video that shows you exactly how it works… And how you can use this technology to actually DOUBLE your account in just 36 days… Then I urge you to click right here and view it now. But if you’ve seen the video and understand just how powerful this system is but have been putting off purchasing one of our packages… Then today is the day you’ve been waiting for. See, TODAY ONLY, you can get your subscription to the Professional Package — our most robust suite of indicators that includes nearly every tool in the Hawkeye stable — at an insane discount. All you have to do is call our Client Services team at (888) 233-8598 to get all the details… And take your trading to the next level with the Hawkeye Professional Package! Yours for massive trading success,
Dustin Pass
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| Market Traders Daily |
| Disclaimer: Futures, forex, stock, and options trading are not appropriate for all traders. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can ensure returns or against losses. No representation or implication is being made that using any of these methodologies or systems will generate returns or ensure against losses. |
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