Lone Stock Trader - Fred Saffore - Professional Stock Trader
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Lone Stock Trader, a well-known independent trader by the name of Fred Saffore
Fred was a recent competitor in the United States investing championship, where he achieved a very respectable 5th place.
He is also the author of the E-book ‘How I became profitable in the stock market’.
Fred discloses his story of how he became a highly acclaimed full-time stock trader, along with his yearly results.
For those that hang around we disclose how to get Fred’s free eBook and learn directly from him.
Let’s take a look.
We present ‘How I became profitable in the stock market’ by Fred Saffore.
Fred confesses to have taken 5 years before becoming consistently profitable, but unlike the quoted 90% of retail traders that fail, and eventually quit, he pushed through.
In 2009 Fred took to the stock market with funds he acquired from a previously sold business. In that year he managed to lose 70% of his trading account. Like many other new traders’, he made many mistakes, primarily using options and leverage without fully understanding the risks involved.
The biggest loss aided through advice from his broker came from averaging down a Chinese biotech company, purchasing the stock at promisingly lower levels. The stock eventually got delisted and Fred vowed never to invest in the stock market again….
2010 delivered another setback. With a huge desire not to look for a regular job, Fred invested but lost a further $100,000 through a failed business start-up. Back to square one Fred was left without knowing what to do with his life…
Newly married and living a frugal life, Fred’s money slowly dwindled away to the tune of $35,000
The few years that passed and the diminishing pain from previous losses, a newly invigorated Fred decided to enter stock trading again, but this time (once bitten twice shy) he studied all he could reading books like ‘Stock Investing for Dummies’ and ‘The Neatest Little Guide to Stock Market Investing’.
Fred (32 at the time) spent the best part of 3 months reading many other books on trend following, Fibonacci and moving averages amongst many other related topics. He then stumbled upon a book called ‘Insider Buy Superstocks’ by Jesse Stine, an independent trader that made millions in the space of 2 years, he grew huge inspiration from the book and began to create a strategy that he could call his own.
From his newly acquired knowledge, Fred revisited his trading journal from which he logged every single trade from his strategy. His light bulb moment came when he discovered his own discipline was his downfall and had he only followed his strategy to the letter he would have made mind boggling returns.
This moment become life changing for Fred, his mindset completely shifted from focusing on money to focusing only on his strategy and discipline, and by doing so Fred knew the outcome would lead to profits.
Fred says ;-
“Trading has now become quite easy and even boring. And that is exactly what successful trading is about. I just follow my rules, focusing on not deviating from my plan, taking trades and exiting when my strategy tells me to. Money follows”.
Fred finally became a consistent trader and achieved the following returns from 2016 to the end of 2019.