I’ve encountered failure more times than I can recount. Some
failures are etched in my memory—being dumped by a girlfriend, cut from a team,
losing a crucial game, rejected or fired by a client, and suffering significant
financial losses. Yet, despite these setbacks, I consider myself remarkably
successful. Success, after all, is a highly personal construct.
For me, success begins with my family. I am fortunate to
have a loving, supportive wife and four healthy children who are the center of
my world. I’m also blessed with a robust network of friends and family, as well
as a deep faith that anchors me. I run my own business, which has afforded me
the means to support my family—an accomplishment I hold in high regard.
However, this journey has been anything but smooth; I’ve had
to navigate my fair share of challenges. Each failure has left its mark, but
these battle scars have been invaluable in preparing me for success and keeping
me grounded. They’ve also instilled in me a relentless work ethic, and I firmly
believe that hard work breeds opportunity and, ultimately, luck. What often
appears to be "overnight success" is usually the culmination of years
of unrecognized effort and perseverance until everything finally aligns.
I’ve been in this business for nearly 25 years, and there
have been moments when I wanted to quit—times when my confidence was utterly
shattered. I vividly remember being fired by my biggest client due to poor
performance while I was on vacation with my family and my in-laws. I had three
young toddlers and a newborn at the time, and the uncertainty was overwhelming.
I wasn’t sure if I would make it through.
Yet, there’s always been an inner drive that refuses to let
me quit, urging me to keep moving forward. Often, our greatest victories emerge
from our darkest moments. Quitting is the easy path; digging deep, grinding it
out, and persevering through uncertainty is the road less traveled.
Earlier this year, I lost my mom to a sudden, massive
stroke. Her loss has been a profound blow, but her words continue to resonate
with me. She would often say, "This too shall pass," a phrase I used
to hate. But she had an unwavering conviction in her faith, frequently
reminding us, "Talk to the Lord; He will answer your prayers." I
never got the chance to tell her, but she was right. I miss her every day, and
her guidance has been instrumental in helping me and my siblings navigate our
failures and ultimately find success.
Reflecting on my experiences in trading, one of the most
critical lessons I've learned revolves around risk management. In the late
1990s and early 2000s, during the height of the internet boom, I was a newly
hired broker’s assistant, working for two exceptionally successful brokers.
Their impressive gains during this period were inspiring, and I decided to open
my own trading account, following their recommendations with enthusiasm.
Initially, my investments yielded impressive returns. It was
an era where almost any stock purchase seemed to appreciate in value,
reinforcing a false sense of invincibility. However, this apparent success was short-lived,
and I soon encountered a sobering reality.
I began to pyramid into winning positions, culminating in a
substantial investment in Nortel Networks. When Nortel released its earnings,
the stock’s dramatic decline resulted in a 60% loss of my account in just a few
days. In hindsight, this was a cheap lesson in risk management, but at the
time, it was devastating. I had lost in a few days what had taken me more than
six months to save.
Although the loss was painful and a significant setback, it
ultimately set me on a path toward rigorous due diligence. This experience
compelled me to spend years developing a strategy designed to mitigate
substantial losses while capitalizing on potential gains. Without that harsh
lesson, I wouldn’t have become the profitable trader I am today. As my mom used
to say, “This too shall pass”—and it did. I learned from my mistakes and
dedicated myself to the effort and
research that now underpin my trading strategy.
This is just one chapter in my trading history. I have accumulated numerous battle scars over the years, but I’ve managed to sustain a 25-year career trading capital markets without a major blow-up since my early days. This experience has reinforced my belief that failure is a crucial step toward genuine success.
