My first exposure to the stock market was when I was 16 years old. There was a share trading competition at school. I joined in with my best mate at the time but he wasn’t really interest, so i took the reins. Everyone started with $10000 and we had 4 weeks to finish. I went home and opened the newspaper and turned to the ASX section. I had absolutely no idea what I was doing. No charts, no analysis, just numbers on a page. I was going through each company looking at theprice and working out how far it would have to go up for me to triple my money. That was my logic haha. after days of doing this I found this 10c stock. It would only have to go upto 30 cents and I would have tripled my money. That’s only an increase of 20 cents. Boom I was in put my whole $10000 on it. days went by nothing. Another couple of days went by and it went up to 11 cents. I remember thinking oh great only 1 cent difference. Thinking about it now thats a 10% increase, I’d be in on that for sure now.
Another couple of days went by and it went up to 14 cents. I started to get excited. I thought how easy is this just threw down and and in less then 2 weeks I would have made $4000 if it were real money. The next day some news came out on this stock, they won some huge government tender. The stock shot up to $1.21. I was over the moon $10000 to $121000 in 2 weeks. That got me hook line and sinker. My mate and I won the school competition and got 2nd in the state.
After this I got really interested in economics, I wanted to study it at university. By the time I had left school I was completely over studying and decided not to go to university. After a couple of years I landed a job with Xerox, as a Junior Sales Consultant. The sales training I got there was unbelievable. At this point I had pretty much turned away from the stock market and put all my enegy into making big commissions. My interest was reinvigorated while I was in my 4th year at Xerox. I had moved around within the company and my new boss had a lot of money invested in shares. We would talk about it all the time.
I was trying to figure out ways to earn extra money, and I started with online casinos. I came up with a system for blackjack on playing multiple hands and doubling down on all losses and then spreading the remainder across the 5 hands of blackjack I was playing. Sometimes the bets would build right up and then the dealer would go bust and I would win on all hands and start again. I was playing at Captain Cooks Online Casino. They allowed max bet per hand at $10000. This gave me plenty of room to continue to double down. I ended up profiting just over $13000 before they shut my account down.
When I was talking to my boss about it, I was telling him about how you just had to stick to the system. When there was alot of money on the line my emotions would go crazy. I told him that you just have to tell your emotions to F off and just stick with the system. After talking to him for a while he said to me “Seriously Matt you need to start day trading, it requires you to do the exact same thing. If you are able to control your emotions like that in those situations and stick to your strategy, you would do great.” To be completely honest I had no idea what he was talking about.
I didn’t know anything about strategy for the stock market. I knew nothing about fundamentals, charting, technical analysis etc. But it definitely got me interested. Back then there wasn’t the plethora of information there is now, it was 2006. Unfortunately life happened and the aspirations of becoming a successful day trader once again started to fade. I left Xerox and started my own web design and online marketing business. After a few years of doing that in mid 2015 I came across an advertisement of Timothy Sykes, talking about how he turned $12k into millions. Thats when I started to study the stockmarket again. Now there were trading communities, trading alerts and more information than you can poke a stick at.
I have been studying flat out ever since, I’ve paper traded for 8 months in the middle of all that. I started working for Canon as a Territory Manager 9 months ago and have decided it’s now time to put 100% effort into suceeding at this. I like the idea of being my own boss, yes I have been my own boss before but even when running a business I still had to answer to my customers. I like the idea of the freedom that is attainable with becoming a day trader. I just need to master my craft, and thats why I have started this blog, to keep me accountable. To force me to go over all my trades and break it down. Where I went wrong how I can improve etc. This is only just the beginning, I’m still a complete noob.