• What I Learned Losing A Million Dollars by Jim Paul and Brendan Moynihan

    If you ever wondered what it feels like to lose over $1 million trading commodities, here is a unique book that gives you all the gut-wrenching details. But the main purpose of this book is to help you learn from the author’s mistakes, so this doesn’t happen to you, or you prevent it from happening again.
    What I Learned Losing a Million Dollars is a real life story of a commodity trader who was on top of the world through his successes, but that all came tumbling down in a hurry as it was all based on the false belief that he couldn’t lose when it came to trading commodities.

    Commodity Trading Gone Wrong

    What I Learned Losing a Million Dollars begins with some background on the author’s pursuit for a better life and how a series of personal accomplishments gave him a somewhat false sense of security that success in trading commodities was a forgone conclusion. As the events unfold, it is painful, yet entertaining to see how someone could lose $1.6 million trading commodities in a short period of time and have his life turned completely upside down.
    The fact is that the author did not have a trading plan and he didn’t know as much about trading as he thought he did. He basically risked everything on one highly leveraged trade. That may have worked in the past, but it is just a matter of time before the markets caught up to him.

    The Aftermath

    Trading without a plan and a lack of risk control will only get you so far. You may think that are you are an expert trader, but you are just lucky and it is only a matter of time before one disastrous trade inflicts its misery upon you.

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