Josh Evans' cancer diagnosis motivated him to start trading stocks full time. He shares the changes in strategy that completely turned around his investing fortunes.
This story requires our BI Prime membership. To read the full article,Josh Evans was day-trading stocks once a week before his cancer diagnosis motivated him to pursue his passion full-time.
During this time, Evans was trading about one day a week — and had managed to land a 380,000 Australian dollar windfall from a well-timed lithium trade. For a neophyte trader, this amount of capital was mind-blowing — but he had no idea his life was about to change.He continued: "As grim as this sounds, we don't know if we're going to be here next week. I guess it gave me a little fast forward ... I thought: 'Yeah, why not? The time is now; lets do it.
When Evans says "with size," it means he's trading a considerable amount of shares to take advantage of these tiny moves in price. "I didn't need that extra 30 grand in the trading account," he said. "$20,000 on a leveraged account— I think that was definitely more than enough for when I started."At one point in the early going, Evans took a sizable drawdown as he became overconfident and undisciplined. He knew he needed to make a change.
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