If there’s one thing Anne-Marie Baiynd learned after making the transition from a business owner to a trader, it’s that she’s no longer in charge.
The market, unlike her employees, doesn’t do what she asks it to do.
She needed to learn to give up control. And it wasn’t easy.
In fact, it was so hard that she almost lost all of the hard-earned money she had salted away from years of successfully running her business. To say this would be stressful for a family and a marriage would be an understatement.
But from the fire, Anne-Marie emerged with a couple rules that helped her climb out of the hole and get on the profitable path.
First, she learned she needed to ruthlessly manage her costs. This concept worked for her in business, but in trading it translates to keep trading losses under control.
Secondly, she learned that she no longer needed to be a pioneer like she was in business, but instead a fast first adopter. One who could quickly jump on profitable trading concepts that others have proven to work.
The path to profitability certainly wasn’t a straight line. As she said: “I’m always conscious that the market can punch me in the face.” And she firmly believes: “If money is your only objective, forget about it. You don’t stand a chance. There is a fever that you have to have that will take you through the valleys. If you don’t have The Fever, you’re going to quit.”
We can in to all this and more, plus the pros, cons, and pitfalls of the exploding “funded trader” industry.
We talk to a lot of traders. Not just on this podcast, but across everything we do. And one thing that is common to most of them is some level of stress which must be routinely navigated. And it’s often a real struggle.
From an early age, David Hale had hustle in his DNA. At just 10 years old, he was sneaking into casinos to play slot machines. By 11, he was betting on horse races. And before long, he was hunting for arbitrage opportunities in baseball card values.
It’s hard to believe Denise Shull is a product of parents and grandparents who believed in “buy and hold” and wouldn’t even know how to sell a share of stock if asked to.
“I would not give a fig for the simplicity on this side of complexity, but I would give my life for the simplicity on the other side of complexity.” ~ Oliver Wendell Holmes
Reinventing your career after 20 years is no small feat. Now, imagine trying to do that by becoming an active trader. That’s exactly what Andrew Moss is doing—but he isn’t going in blind.
Among the many things that stood out during our conversation with David Lundgren, it was this quote: “I want to find a way to listen, and learn, and get a little bit better every day.”
