Dan Shy: From $0 To Full-Time Fund Manager
Dan Shy started trading in 1996. As for many traders, his start was rough. Over the years, he was able to become profitable until his “Never Again” moment. Over one single trade, he destroyed his entire account.
Fortunately, that painful moment led to a great future in trading for Dan. He was able to fund a new account 5-6 months later. Over the years, he gained valuable insights that he shares in Episode 9 of the Desire To Trade Podcast.
I personally like Dan's idea of being simplistic in trading. After all, nothing is worst than having a “Christmas tree chart” as a new trader.
Of course, a lot more is discussed in this podcast episode.
Here are the main things covered:
- Why nobody can turn someone else into a good trader…really?
- The desire that destroys traders over and over again.
- Why it's important to create other streams of income for traders.
- The “Christmas tree chart” problem new traders face.
- What elements of psychology are crucial to understand.
- And much more…
- Trading For A Living by Alexander Elder (click for the free audiobook)
- The Intelligent Investor by Benjamin Graham