{"id":19977,"date":"2022-08-05T07:30:18","date_gmt":"2022-08-05T11:30:18","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=19977"},"modified":"2022-08-05T07:30:18","modified_gmt":"2022-08-05T11:30:18","slug":"what-i-learned-from-my-first-days-in-the-trading-pits","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/what-i-learned-from-my-first-days-in-the-trading-pits\/","title":{"rendered":"What I Learned From My First Days in the Trading Pits"},"content":{"rendered":"

Andrew’s Note:<\/strong> My colleague Larry Benedict is a legendary trader and editor of The Opportunistic Trader<\/em>. In 2008, he posted 23% gains, while the stock market fell 37%. Then, he predicted the 2020 crash a month before it happened along with the 2022 collapse back in January. Now, he’s issuing a shocking new warning – along with a unique solution.<\/p>\n

He calls his unconventional approach the One Ticker Retirement Plan<\/em>. No matter what happens in the stock market, you can potentially make all the money you need using just one ticker at a time.<\/p>\n

For a limited time, Larry will reveal everything in an over-the-shoulder demo of his strategy – including the name of his top ticker. To watch his special interview, just click right here<\/a>.<\/p>\n

And read on below to learn how Larry earned his reputation as “market wizard.”<\/p>\n

\n

The year was 1984 and I had just started my trading career.<\/p>\n

I worked as a runner and a clerk in the pits of the Chicago Board Options Exchange (CBOE). And it was there that I learned the first, most fundamental rule of being a successful trader.<\/p>\n

As a clerk back then, you’d answer phones, write orders, and run the orders out to the pit to execute them. Then, you’d get back on the phone and report the fill to the customer.<\/p>\n

When I first started, I was getting trained by another clerk who worked for my boss. My boss was a big-time trader. And the clerk who was training me said something strange…<\/p>\n

“Look, you’re going to get fired every day. But don’t listen to it. Come back tomorrow and everything will be fine.”<\/p>\n

I’m originally from New York. And here I was… 21 years old, in a new city where I didn’t know anyone. I knew absolutely nothing about my job. And I was told I’d get fired every day.<\/p>\n

I also didn’t know the ins and outs of working on a trading floor. I was expected to know what I was doing. But I knew nothing about trading, period. But on the first day, I got thrown right into the fire. <\/p>\n

My boss gave me hand signals for what trades to do from the pit, but I was clueless. I was given a sheet with all the hand signals, but it was like learning sign language in minutes. I’d look up at the screens with the current stock prices and it just looked like scrolling gibberish.<\/p>\n

He really needed someone with much more experience than I had.<\/p>\n

Inevitably, I messed up an order and my boss went ballistic. He told me I was an idiot and didn’t know what I was doing. He fired me.<\/p>\n\n\n\n
\n

Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

So of course, I freak out. I call my mom and tell her, “Mom, I just got fired. But they told me I’ll get fired every day and to just keep coming back.”<\/p>\n

And she goes, “Well, just do what they say then!”<\/p>\n

So, the next day I go back and arrive early. My boss walks in and he’s got a cup of coffee and a bag of McDonald’s, like everything is normal. He starts asking me what I did last night in a normal, upbeat mood.<\/p>\n

I was stunned. Everything really was fine.<\/p>\n

The next day comes around and he asked me a question about adding fractions together. I didn’t know the answer, so I guessed.<\/p>\n

Bad move. I guessed wrong. So, he went ballistic and fired me again.<\/p>\n

Suffice to say, it was a high-strung and high-intensity environment. But as miserable as it was every day – getting fired and coming back with my tail between my legs – I kept coming back.<\/p>\n

Not a lot of people are built to handle that kind of environment. It forces you to learn quickly. You get knocked down and get back up – every single day.<\/p>\n

That’s what my boss was trying to teach me, in his own strange way. And it’s a lesson every new trader needs to learn.<\/p>\n

No matter how many times you fail, lose money, or even “get fired,” so to speak…<\/p>\n

You have to get up, dust yourself off, and try again. That’s the fastest way to learn and improve.<\/p>\n

It’s easy to get discouraged, especially when money is on the line. But if trading were easy, everyone would do it… and everyone would be rich.<\/p>\n

Maybe the advice to “never give up” is something of a cliché.<\/p>\n

But that cliché is the reason why I turned that first job into a 35-year trading career, making millions along the way.<\/p>\n

And if you want to be a successful trader… you must follow it too.<\/p>\n

Regards,<\/p>\n

Larry Benedict
Editor, One Ticker Trader<\/em><\/p>\n

P.S. <\/strong>For decades, I’ve been consistently generating gains in any market conditions – especially like the bear market we’re in now. That’s why I’m going to show everyday folks how to do it too.<\/p>\n

Those who followed my recommendations in the first half of 2022 saw double- and triple-digit growth during one of the worst markets in 50 years.<\/p>\n

But my secret doesn’t involve investing in the traditional way… with my One Ticker Retirement Plan<\/em> all you have to do is focus on one ticker at a time.<\/p>\n

To get started using a strategy that works regardless of which way the market moves, click right here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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