ANTHONY’S FULL STORY
I first began my journey as a trader at the age of 21 in the year 1999. At the time, I was one of the youngest members at the Chicago Mercantile Exchange (now CME Group™). Right out of the gates, I thought I was going to be rich. The traders I worked for were making well over a million dollars a year (my mentor made over 4 million in one year). My thought process was this: since I was leasing a seat, had a trading account with money in it, and the same daily numbers that the other traders had, I was going to be rich in just a few short years. Instead, I was broke within 6 months.
It took me two years to save for my first $25,000 account, and it took me a little over six months to blow through it…trading one and two lots of futures contracts mind you. I had many opinions about trading, but had no Execution, nor any Mindset skills to use. Not to mention, I only thought about making money instead of protecting money. I had no defense whatsoever. The combination of having NO Mindset, and NO Execution skills led to the blowing out of my trading account.
From there I went on to borrow $25,000 from one of my trading friends/mentor… and I went through that money in about one year. This was so disappointing. This led me to borrow another $25,000… from the same trader again! This time, I went through the account in 6 months. Each time, I was learning how to extend my time, but I wasn’t learning enough to make it work for me. I was down to my last $10,000 that I had to borrow from my Aunt, who was the last person that still believed in me. This was my last chance to make it happen.
There was no more money that I could borrow after this. Not to mention, I had to borrow ten bucks a day from my dad, or my brothers who had now taken clerk jobs on the trading floor. Believe it or not, they were making more money than me as a member… how humbling.
I took my last $10,000 knowing it was my last chance, and finally figured out what I was doing wrong. NO MORE OPINIONS. I put together a PROCESS that I could APPLY to my trading. Before, I thought I had rules, but those rules were never applied to my trading. I thought I had Mindset and Execution Skills, but when I started to observe what successful traders were doing in the pit, I started to see what I was doing wrong. Those traders were reacting to what they were seeing on the screen, and it was being done instinctively. I was trying to predict instead of trade. Trading is a verb, a reaction to what the market is doing. I was executing every trade the exact same way, with the exact same contract size, regardless of the conditions…I WAS WRONG!
In other words, I never knew when to trade bigger, in order to take advantage of a time that I new was the right move. I didn’t know when to trade small, because the look of that trade was just mediocre. I also didn’t know when NOT to trade, because I wanted to make money. I was an operator of my flawed technical strategy, not a trader.
I began allowing the market to tell me what it wants me to do, and when I should do it. I stopped complaining when a trade went against me. Before, I would say “the market makes no sense…” in reality, I made no sense.
Finally, I put together mindset and execution skills that could be applied to my technical strategy. I developed market awareness, and learned how to use confirmations when executing my strategy. Using the skill of market awareness allowed me to determine when to trade big, when to trade small, and when not to trade. Only then, things started to change.
I took my last $10,000 and within six to 12 months I was able to pay everybody back, and put a down payment of over a $110,000 to buy myself an IOM seat at the Chicago Mercantile Exchange. The next three years I made over $2,000,000 trading e-mini S&P contracts and other similar futures products. I went from never trading over a twenty lot, to having as much as 1000 E-mini S&P’s in a position at one time.
Over the next decade I had several six and seven figure years. Over these years, I developed my Beacon Indicators and Strategy.
Now, I teach other traders this exact same process, using these Beacon Indicators. There is a difference from a person who has a trading account, and a person who is a trader. Today, I use our trading room and member community to train and educate all levels of traders from beginners to seasoned professionals. It is the least I can do to give back to this industry.
Now, I also host a weekly podcast called Futures Radio Show. It is sponsored by CME Group and Co-Sponsored by Trading Technologies. To learn more about the show, click here.
Our community was created to replicate the feeling of being in the trading pit. It’s a professional community for the trader. To learn more click here.