Lessons from a Pro Stock Trader - Don't think of paper gains/losses in terms of cars or vacations
Tom Baldwin worked as a meat packer in Ohio. After graduate school, on the advice from a friend, he moved to Chicago to begin bonds trading. Though his specialty is trading the 30-year bonds, his knowledge of trading can be easily applied to stocks as well.
What is so intriguing about his story?
He turned $25,000 into a $1,000,000 before his first year was up. In addition, he was paying $2,000 per month to lease the seat on the exchange and at least $1,000 for living expenses. Oh and his wife was pregnant at the time.
For all of you people out there who are looking for excuses not to trade bonds or stocks, consider Tom Baldwin's story. Tom Baldwin went from meat packer to bond trader investor and according to Jack D. Schwager from Market Wizards, Updated: Interviews With Top Traders 30 million dollars is a conservative estimate for Tom Baldwin's total winnings.