At that time, he already had a good understanding of the stock market and decided to get his feet wet with trading. The next stop was opening a brokerage account. All he knew was that he needed a broker to start trading. So he opened a brokerage account with the first broker he found on the internet. That was the first mistake he learned. His first broker had high spreads and offered enormous leverage — leverage that blew up his first trading account.

He said, he was focusing on very short-term timeframes, applying a dozen of technical indicators, and opening large position sizes early in his trading career. The high spreads were eating a large portion of the profits of the few winning trades he had. I thought I had learned the game. In the end, I got a margin call.

At this time I realised, I found his story very interesting and was glad that we missed our faculty lectures. After he blew up his first trading account, he closed his account with the first broker and started learning as much as possible. He found a trading mentor online , had regular Skype sessions with him and bought a dozen of the most popular book on various trading subjects, including technical analysis , fundamentals, trading psychology , and risk management.

I knew I can do this, I just need some more time and a good trading mentor. John started to read about technical analysis and opened a demo account with another broker — this time he did his homework on brokers. He started to practice patience and discipline on the 1-hour and 4-hour timeframes, developed his first real trading strategy and applied crucial risk management techniques to all of his trades. This was the first time that he had a plan when trading.

He deposited funds into his second trading account with the new broker and started applying all the things he learned during the last few months in his trading. Soon, he discovered that he was able to stay break-even in the market. I knew it would take only a small tweak in my trading strategy to become profitable in the market. Unfortunately, one wrong trading decision later and he lost a large portion of his account.

John learned the importance of trading psychology the hard way. I ruined my trading account with one bad decision — it was so foolish. Why did I do that? He fine-tuned his risk management rules. A simple tweak helped him to finally see consistent profits in the market.

John inspired me to become a trader myself. We still talk about the markets, share trading ideas , and discuss our trading journeys regularly. So, you want to become a day trader and join the hundreds of thousands of day traders who are living in the UK?

Then this…. Day trading is one of the most popular trading styles in the Forex market. However, becoming a successful day trader involves a lot of blood,….

Want to day trade for a living? Becoming a full-time trader with consistent profits means financial freedom and being your own boss. There are many trading career paths worth…. Next: Step 2 of 4. Joe Bailey November 7, This is his story. His First Steps as a Trader John was trading stocks and currencies.

Home » Day Trading Success Stories and What Can We Learn from Them. Day trading success stories can be a great inspiration for both new and experienced traders. But who are these successful day traders and how can their day trading success stories inspire you to become a better trader? The best traders in the world are either famous or discreet. In this article, we are tackling day trading success stories, covering their inspirational aspects as well as the perks of trading for a living as a concept of life.

Each trader has a different career path and starting point, using different trading strategies and trading styles. All together going through ups and downs and harsh trading days, they also share the will to stand up and be successful after all. Here is an overview of the most talented and successful day traders. Ross Cameron is one of the most successful day traders coming from Australia. He came into the focus of a wider audience as a founder of the day trading platform called Warrior trading.

He started as a long-term investor by buying shares in Pfizer Caterpillar, US Steel. The stock values remained unchanged for a long time until he tried his hand in day trading. Always struggling to find decently paying jobs, before his day trading career, he worked as a pottery teacher, and a pool boy. But trading was more appealing and turned out to be his best skill. The crisis represents a turning point in his career.

Having a large brokerage account, he started trading penny stocks. From then he succeeded to grow the profit to 5 million dollars. Michel is primarily famous as one of the founders of the Commodities Corporation Company. Besides, he takes place among the most successful forex traders of all time.

He became a successful currency trader at a young age owning approx. He developed his career with the help of a mentor Ed Seykota. Later on, Marcus became the mentor to Bruce Kovner, another stellar American trader and investor. His story is quite inspiring for beginner traders since Bill entered the market with very little forex trading experience. But it turned out he was capable of amassing millions of profit within the Forex department known as the Salomon Brothers.

The insightful trading mindset was at the core of his trading success story. Ed comes from the old generation of traders whose career was at a peak at He was the mentor of Michael Marcus. Seykota was an unconventional day trader who developed original computer-based trading systems while working at a brokerage house. He developed algorithms for trading systems and started using computer programs for stock exchange trading — and the amount of profit he made on account of one of his clients is still at an all-time high.

These systems are today largely implemented in trading. Our best day trading success stories would be incomplete without mentioning George Soros. He was born in in Budapest. In , he emigrated to England. Upon graduation from the London School of Economics, he started as broker trading stocks in New York City and then moved quickly to Wall Street to earn enough money to become a philosopher or a writer for the rest of his life.

But fate willed otherwise for Soros who founded his own investment fund, the Soros Fund Management, after his success in the American markets. Therefore, the pound had to leave the European Monetary System. Criticized and envied for their results, day traders have not always been at the mercy of public opinion. This is especially true since the financial crisis of and the consequences it had on the real economy. Also, the role of mentorship is as important as self-driving motives. If you consider trading for a living as your career choice, we hope these stories inspire and help you establish the original trading mindset.

Interested in day trading while working?

Back in my student days, I had a friend who was very passionate about one thing — looking at charts on his smartphone. One day, as our lectures were just about to begin, John not his real name was, as usual, looking down at his phone and I asked him what all the charts were about.

He invited me for a coffee and explained everything to me yes, we missed those lectures. John was trading stocks and currencies. He got interested in financial markets two years ago when he went on a trip and saw a group of foreign tourists exchanging money at an exchange office. Those exchange rates were changing each day he passed by the exchange office. One day the euro was up against all other currencies, which means that John would have received more of the domestic currency if he decided to exchange his money that day.

At that time, he already had a good understanding of the stock market and decided to get his feet wet with trading. The next stop was opening a brokerage account. All he knew was that he needed a broker to start trading. So he opened a brokerage account with the first broker he found on the internet. That was the first mistake he learned. His first broker had high spreads and offered enormous leverage — leverage that blew up his first trading account.

He said, he was focusing on very short-term timeframes, applying a dozen of technical indicators, and opening large position sizes early in his trading career. The high spreads were eating a large portion of the profits of the few winning trades he had. I thought I had learned the game.

In the end, I got a margin call. At this time I realised, I found his story very interesting and was glad that we missed our faculty lectures. After he blew up his first trading account, he closed his account with the first broker and started learning as much as possible. He found a trading mentor online , had regular Skype sessions with him and bought a dozen of the most popular book on various trading subjects, including technical analysis , fundamentals, trading psychology , and risk management.

I knew I can do this, I just need some more time and a good trading mentor. John started to read about technical analysis and opened a demo account with another broker — this time he did his homework on brokers.

He started to practice patience and discipline on the 1-hour and 4-hour timeframes, developed his first real trading strategy and applied crucial risk management techniques to all of his trades. This was the first time that he had a plan when trading.

He deposited funds into his second trading account with the new broker and started applying all the things he learned during the last few months in his trading. Soon, he discovered that he was able to stay break-even in the market. I knew it would take only a small tweak in my trading strategy to become profitable in the market. Unfortunately, one wrong trading decision later and he lost a large portion of his account.

John learned the importance of trading psychology the hard way. I ruined my trading account with one bad decision — it was so foolish. Why did I do that? He fine-tuned his risk management rules. A simple tweak helped him to finally see consistent profits in the market. John inspired me to become a trader myself.

We still talk about the markets, share trading ideas , and discuss our trading journeys regularly. So, you want to become a day trader and join the hundreds of thousands of day traders who are living in the UK? Then this…. Day trading is one of the most popular trading styles in the Forex market. However, becoming a successful day trader involves a lot of blood,…. Want to day trade for a living?

Becoming a full-time trader with consistent profits means financial freedom and being your own boss. There are many trading career paths worth…. Next: Step 2 of 4. Joe Bailey November 7, This is his story. His First Steps as a Trader John was trading stocks and currencies. Benjamin Franklin. Learn more, take our free on demand course: Understanding Brokers. How Do Forex Brokers Make Their Money?

A Day in the Life of a Day Trader 9 Day Trading Books That Are True Page Turners Premium Beginners Course to Trading. Learn more, take our premium course: Trading for Beginners. What is Online Trading and How Does it Work?

Categories: People. Joe Bailey. Related Articles. Joe Bailey October 8, Phillip Konchar June 2, Joe Bailey September 29, Joe Bailey October 23, Phillip Konchar December 10, Request a Free Broker Consultation. Phone including intl. If you are human, leave this field blank. Information you provide via this form will be shared with Forest Park FX only as per our Privacy Policy.

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All he knew was that he needed a broker to start trading. What Can We Learn from Day Trading Success Stories? Later on, Marcus became the mentor to Bruce Kovner, another stellar American trader and investor. Define Your Trading Edge What is it that makes you have a positive expectancy trading method? Having a strong mentor proved to be very valuable for him and he passed on all his knowledge to his protégé continuing the chain,.

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