Ep 225: $80K Losses to $2 Million+ Profits — Jack Schwarze’s Incredible Trading Journey
Jack Schwarze started trading in high school. Now, he’s a multi-millionaire finishing up grad school. It’s incredible what a difference a few years can make…
Today, trader Jack Schwarze shares his mind-blowing trading journey — including how he overcame $80K in losses and blew up multiple accounts before finding his stride as a short seller. Don’t miss this!
What kinds of hobbies did you have during your senior year of high school?
Lacrosse player Jack Schwarze decided to diversify by taking up trading.
His goal? To become rich.
A few years down the line, it’s safe to say he’s reached that goal. As he finishes up grad school, Jack’s up over $2.6 million in trading profits.
But it hasn’t been easy. In today’s episode, SteadyTrade podcast co-hosts Tim Bohen and Stephen Johnson find out the full story behind this young trader’s wild ride…
Senioritis to Self-Sufficient Trading
Jack started trading in 2016 as his high school career was coming to an end.
- He came across Tim Sykes on Instagram and wondered why more people weren’t taking advantage of these supernova stock moves.
- He also had major senioritis and decided trading would be fun.
Jack started out with about $2,000 … But as he shares, he would blow up his account MANY times before he started to understand the rules of the game.
Find out what changed over time — and how he discovered that he needed to diversify and do if he wanted to keep trading.
Don’t miss Jack’s go-to trading patterns that he’s adapted from teachers like Tim Sykes and Roland Wolf!
The Psychological Journey of Trading
For Jack, learning to deal with market fluctuations has been key to his mental wellbeing:
- During a hot market, he found he could make “insane money,” which led to feelings of euphoria
- When the market shifted, he started to “bleed” due to poor risk management. It did a number on his emotional health…
Tim, Stephen, and Jack all share tips for maintaining sanity in the wild world of day trading — tune in!
Key Lessons for New Traders
Every trader can benefit from Jack’s sage advice. Here are just a few of the gold nuggets in the episode:
- Stay in the game. Above all else, focus on not blowing up!
- Zero in on your style. Just pass the time and wait for your setups. “When it rains it pours.”
- Don’t get married to a setup. It’s a one-way road to heartbreak…
- Track your data! It’s the best way to figure out what’s actually working for you and why.
- Cut losses quickly!
Stay in the Game…
The market naturally fluctuates. Learning from traders like Jack Schwarze can help you learn how to adapt and stay nimble. Never give up!
What do you think of Jack’s approach to the market?
We love to hear what you think, so drop a comment below or on YouTube!
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