035 - How to Avoid “Risk of Ruin” Trading Full Time (TMC Show)

If you’re thinking about taking the leap and quitting your day job to trade full time, it’s important to understand the pros and cons of trading as a career. Mike is joined by special guest and long-time friend, Anthony Baker, a 12-year commodities broker on Wall Street who shares his story of how he got started trading full time, how to manage risk, budgeting for your household when you don’t have a steady income, and how to come back from a significant loss. In today’s Trader’s Mindchat Show episode you will learn: * Don’t let your emotions rule the day! Trading can affect you mentally. It’s important that you try to take the emotions out of trading and don’t trade based on how you feel. * Before taking the leap to quit your day job, be sure that you gain consistency in your trading. * Be comfortable with what you’d be willing to lose. Even the best brokers have lost money. You have to risk to make money and you have to lose to gain money sometimes. Anthony (AJ) Baker was a successful commodities broker on Wall Street for 12 years before retiring at the age of 40. Now living in Myrtle Beach, SC, and building his dream home, he is helping to mentor other traders along their trading journeys. #tradersmindchatshow #tradefulltime WHAT IS The Trader’s Mindchat Show??? Wealth is a journey, and this show is your Jumpstart to Trading Success! Hosted by MARA founder and top trading mindset coach Michael Lamothe and his wife, author Melissa Kuch Lamothe, together they will discuss the full spectrum of ways to improve your trading and your life. Joined by expert guests to help YOU trade like the Pro’s, revamp your mindset, balance life, family, and trading, & improve health & wellness. Connect with us on: • Website: https://marawealth.com • Instagram: https://www.instagram.com/michaelglamothe • Twitter: https://twitter.com/MichaelGLamothe • YouTube: https://www.youtube.com/marawealth • StockTwits: https://stocktwits.com/MichaelGLamothe • Facebook: https://www.facebook.com/MaraWealth/ • LinkedIN: https://www.linkedin.com/in/michaelglamothe