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How A Heart Attack Lead Me To The Best Stock Trading Chat Room On The Internet

Forced retirement is something I never thought about preparing for. In fact, like many others, retirement was something that I rarely thought about at all. However, after surviving a heart attack that rendered me unable to return to work, I was suddenly facing forced retirement. Fortunately I had a 401K but even when coupled with Social Security it was not sufficient to cover my obligations. It became apparent that I would need another source of income to survive.

When I decided to use the stock market as my primary source of income, I knew that I would have to change my previous approach. You see, throwing money at “penny stocks” and occasionally hitting a winner is not exactly the right way to “invest” in the stock market. Even though I “won” in excess of $60,000 over a 20 year period, the breakdown amounts to only about $250 a month. Not exactly a comfortable wage.

I also knew that I would need a mentor in order to be a successful full-time trader. I had already learned that when you try to become a successful stock trader without a mentor you are almost certainly destined for failure. Successful lone wolf investors are almost non-existent. Studies indicate that 85 percent of stock traders fail, 10 percent earn a reasonable income and less than 5 percent become rich.

I did not use a mentor when I was “investing” in penny stocks because I did mostly what they call “Pump & Dumps”. You throw a few pennies at a new stock issue (which is often times a shell company) and you either lose your investment or sometimes realize a nice return. Sort of like the Wheel of Fortune” in Vegas.

We all know that experience is the best teacher. However, when it comes to the stock market, experience can be a long, mind numbing, costly endeavor. It takes years to learn what you need to know to become a successful investor. On the other hand, working together with an experienced stock trading mentor can make the learning process easier, faster, and much less expensive!

Over the years I have watched many stock market mentors and learned the methods of their success. Nearly all of them have a “chat room” which is much like a classroom where members can practice what they learn and share ideas with others. Members range from novice investors to successful multimillionaires who have made their money in the stock market and simply enjoy the camaraderie in the room.

Newbies learn by “paper trading” for weeks or months before ever risking any real money. Your mentor will help you with this on-the-job type training which enables you to get instant feedback on how you are doing and when you have learned enough to begin risking your hard-earned income. This approach gives you time to build the discipline, the confidence and the patience you will need to become a successful stock trader.

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