Brian Schad is an ex-Navy SEAL and successful trader. Brian, like most people, didn’t start life as a trader. For 12 years before entering the markets, Brian served as a hard-hat diver and Navy SEAL for the U.S. government. And some of his experiences can send a chill down your spine, like time he was trapped under water with depleting oxygen while patching up the battleship USS Iowa.
Brian first became interested in the markets in 1992, when he started to trade to supplement his navy income. He was primarily a discretionary trader, using traditional technical analysis to find trade setups in share options.
Trading success didn’t come immediately for Brian, so he threw himself into reading and researching everything he could get his hands on. One book he got his hands on was by Larry Williams, which he credits his success to Larry’s teachings and mentor-ship. In 1996, Brian resigned as a navy instructor, and committed himself full time to the markets.
Lets now ask Brian the one piece of advise for an aspiring trader.
”What I’d like to say outright is: every new trader has the potential for trading excellence. How and when they get there, and whether they’ll be capitalized enough are a completely different matter. Whether they ultimately choose to be a fundamental or technical based trader, with discretionary or mechanically based signals, and all the research and development and trading and evaluation involved to get where you want to be, are all necessary steps involved that take time and money before trading excellence will be achieved.
If I had just one bit of advice, or important insight to provide a fellow new trader coming up in the ranks, it would be this:
Strive to be able to define your trading ideas, and back test your market conviction as early in your trading career as possible.
Other trading counterparts of mine around the world will tell you it takes patience, self-discipline, punctuality in order placement, and so on.. all things are very true, but by being able to test what they feel are strong convictions about recurring market patterns and potential entry/exit signals as early as their trading career as possible will help them navigate where they want to go sooner than most – like a traveler using a GPS, rather than stopping and asking others for directions to their destination.
This is absolutely the very best advice I could give aspiring traders. They have the choice of making trading as easy, or as difficult, as they want it to be.