{"id":20434,"date":"2022-12-28T07:30:05","date_gmt":"2022-12-28T12:30:05","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=20434"},"modified":"2022-12-28T07:30:05","modified_gmt":"2022-12-28T12:30:05","slug":"this-humbling-lesson-helped-me-retire-at-42","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/this-humbling-lesson-helped-me-retire-at-42\/","title":{"rendered":"This Humbling Lesson Helped Me Retire at 42"},"content":{"rendered":"<p>I was only 19 years old when I made my first trade.<\/p>\n<p>I had a gut feeling the market was going to go higher&hellip; so I invested $600 into the S&amp;P 100. A few hours later, my money had more than doubled. I sold my position and took the $1,200 profit &ndash; a 200% gain.<\/p>\n<p>And I was hooked on trading forever&hellip;<\/p>\n<p>My next trade was in IBM. This time, it took a couple days to double my money. Next, I invested in Digital Equipment&hellip; which nearly tripled in just a few days.<\/p>\n<p>I made 17 trades during my first six weeks as a trader. Every single one was a winner.<\/p>\n<p>Going 17 for 17 was a remarkable feat for a rookie trader &ndash; especially since I wasn&rsquo;t using any sort of fundamental or technical analysis. I was just going with my gut. But I was careful not to put more than $1,000 or $2,000 into any single trade.<\/p>\n<p>And I still managed to turn my $5,000 brokerage account into $50,000 in just six weeks&hellip;<\/p>\n<p>And then I decided it was time to get serious. No more tiny trades. I was too good for the small stuff. For whatever reason, I had figured out a way to beat the market. Heck, I had just rattled off 17 straight triple-digit winners.<\/p>\n<p>So I decided to take the $50,000 in my account, add to it my $25,000 in savings, and put it into a handful of trades.<\/p>\n<p>You can probably guess what happened next.<\/p>\n<table bgcolor=\"#eeeeee\" border=\"0\" cellpadding=\"10\" cellspacing=\"0\" width=\"100%\" style=\"border: 1px solid #D7D7D7; margin-bottom:20px;\">\n<tbody>\n<tr>\n<td style=\"padding-left: 15px;padding-right: 15px; padding-top: 15px; font-family: Arial,sans-serif;font-size:17px; line-height:24px;\">\n<p align=\"center\" style=\"-ms-text-size-adjust: none; -webkit-text-size-adjust: none; margin-bottom: 20px; font-size: 18px;\"><strong>Free Trading Resources<\/strong><\/p>\n<p style=\"-ms-text-size-adjust: none; -webkit-text-size-adjust: none; margin-bottom: 10px; margin-top: 0px\">Have you checked out Jeff&#8217;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 <a href=\"https:\/\/www.jeffclarktrader.com\/\" target=\"_blank\" rel=\"noopener\">click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The stock market has a habit of humbling folks who think they&rsquo;ve figured it out. For me, the humbling started right away.<\/p>\n<p>At first, the positions started slightly moving against me. It was nothing to be concerned about. One good day would put everything back in the profit column.<\/p>\n<p>But then, one by one, each position blew up on me. It was too painful to watch. I kept the television off and avoided reading the newspaper for fear I&rsquo;d see something bad about the stock market and my positions.<\/p>\n<p>When I finally got up enough courage to call the branch manager and check on the status of my account, I learned all the gains I had built up over the previous six weeks were gone.<\/p>\n<p>&ldquo;Just sell everything,&rdquo; I said.<\/p>\n<p>That was an expensive lesson to learn. But it&rsquo;s one every trader learns at some point. I was just fortunate it happened to me early in my career.<\/p>\n<p>You see, that experience changed how I looked at trading. I was no longer betting the farm on a couple of trades. Instead, I started trading as a way to reduce risk, by building wealth over a number of smaller trades.<\/p>\n<p>Today, I still do my fair share of speculating. But I&rsquo;m not focused on how much money I can make. I&rsquo;m focused on how little I can lose.<\/p>\n<p>That&rsquo;s a huge difference. It has allowed me to trade successfully for nearly four decades. And it allowed me to retire at 42.<\/p>\n<p>Best regards and good trading,<\/p>\n<table style=\"margin-bottom: 20px;\">\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/files.jeffclarktrader.com\/global\/signatures\/jeff-clark-signature.png\" width=\"200\" height=\"77\" alt=\"signature\"><\/td>\n<\/tr>\n<\/table>\n<p>Jeff Clark<\/p>\n<p><!-- MAILBAG BEGIN --><\/p>\n<h2 style=\"text-align:center\"><strong>Reader Mailbag<\/strong><\/h2>\n<p>Has there been a time when the market has humbled you?<\/p>\n<p>Let us know your thoughts &ndash; and any questions you have &ndash; at <a href=\"mailto:feedback@jeffclarktrader.com\">feedback@jeffclarktrader.com<\/a>.<\/p>\n<p><!-- MAILBAG END --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The stock market has a habit of humbling folks who think they\u2019ve figured it out&#8230;<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-20434","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/20434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=20434"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/20434\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=20434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=20434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=20434"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=20434"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=20434"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=20434"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=20434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}