Friday Feature: The Story of my first trade (Part 1) | Tackle Trading: The #1 rated trading education platform

Friday Feature: The Story of my first trade (Part 1)

DO YOU WANT TO Learn how to trade like A pro?

Last update: August 2021

Immersed in euphoria, I don’t know how I managed to close that position, locking in some $12,000 in profits. Now try to imagine what was going on in my head. A couple of months worth of salary in one day!! I was hooked!!

Slawek J —

The beginnings of my first trade go further back in time, way before the trade itself.

In 2006 I cashed out on my real estate in Poland. That was the year when I decided to stay in America for good. I had a “huge” amount of money on hand. About $50,000 gets dropped on my laps virtually overnight. That was a lot of money for me, however, I didn’t feel like I was rich. I was 27 years old and I felt deeply responsible for the situation I found myself in to.

Friday Feature: The Story of my first trade (Photo by James Lee on Unsplash)

At that time I was working as a second-hand auto mechanic, fixing cars for a Ford dealer. Buying a house in the U.S. was the first thing that crossed my mind.

Fortunately, for me, the real estate market was at its peak in America. I knew a few people that were following the housing market and they told me that it was too expensive to get in at that time, so I backed off.

WHAT TO DO, THEN??


So I went to the General Manager at my workplace and asked him:

“George, what shall I do? I have a bit of money, and banks are not paying much for CDs.”

George looked at me and said:

“Slav (that’s how they called me over there), go and buy Ford shares (NYSE: F).”

George was closing all the deals on the floor as far as sells were going at the dealership, so I was thinking “this guy must have a good finance background”. I trusted him when it came to money matters.

In my mind, I thought that I would have to sign some documents somewhere in the New York Stock Exchange, give them my money and then they would send me the paper shares back. That’s how much I knew about trading at the NYSE. Living in a studio apartment right on the beach, it got me wondering where I could hide a safe vault with my paper shares.

Thank God one of my friends told me that everything was done online because I found this nice, but priced out, water and fireproof safe vault.

So I opened a trading account at Scottrade and as soon as my money hit the account I got into my first trade.

Image by Reimund Bertrams from Pixabay

It was July 22nd, 2008. I dumped all the money on Ford and watched my trade for a little bit into the market close. I remember very well the first emotions when the position’s P/L was going back and forth between green and red. When it was green, I was thinking to myself “What a genius move. I will keep these Ford shares until I retire.” When flashing red I wanted to cash it out right away.

Later that day, I went to work to continue fixing cars. Luckily for me, I had a friend in the accounting department who let me log in to my account to check on the position.

Lunchtime: my account was up about $3,000, so I thought “Great, I made my monthly salary”. After lunch, I am up about $12,000-$15,000 on the position. “Wow!”, I thought to myself. Then I started to panic and, at the same time, to imagine spending that money in a trading office with a bunch of useless stuff.

I am sure you already know that I had absolutely no plan for entry, exit, or managing the position. Just a few weeks earlier I was thinking I was getting paper shares, for goodness sake.

Immersed in euphoria, I don’t know how I managed to close that position, locking in some $12,000 in profits. Now try to imagine what was going on in my head. A couple of months worth of salary in one day!! I was hooked!!


That day was Ford’s earnings announcement date. The next day, the shares dropped well below my entry point and kept on dropping. I felt like a genius and a professional trader at the same time for selling my shares the day before.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

One Reply to “Friday Feature: The Story of my first trade (Part 1)”

  1. pearl.b.li says:

    Thanks for sharing! What a fun story…

Comments are closed.

Share this

X
Facebook
LinkedIn
Reddit
Pinterest
Telegram
WhatsApp

More Insights

Join the #1 Rated Trading Education Platform

Learn to generate monthly cash flow from the financial markets and how to grow long-term lasting wealth. Tackle Trading is an amazing online community for active traders that is led by seasoned market professionals. Tap into the power of Tackle Trading’s proven trading system and learn how easy it is to make money with the proper coaching and education.

8,800+

Members

100+

Reviews

Ready to take your trading to the next level?

Get in touch today and receive a FREE complimentary consultation.

Let us help you start trading!

Our Pro Membership gives you the tools to tackle all your trading obstacles.

Register for the Master Trader Live Workshop and get the First 15 Days on Us

ELEVATE YOUR TRADING SKILLS

Master Income Strategies

Unlock the Secrets to Income with Covered Calls

Holiday Sales

Up to
43%
OFF

Days
Hours
Minutes
Seconds
Unfortunately, this offer is now closed. If you still want to take advantage of it, reach out to us at team@tackletrading.com.