Dan Zanger
Why Dan Zanger is richer than most traders
Dan Zanger, is probably one of the most successful momentum traders of all time. Last year alone he made $22 million largely on big trades in Google and Apple.
His strategy involves buying stocks breaking out of chart patterns including flat bases, flags and pennants, on big volume. Zanger puts a lot of emphasis on volume.
Zanger has become immensely wealthy using tools and chart patterns at everyone’s disposal and available in most technical analysis books.
Why? Because he puts his balls on the line all the time. He uses margin on all his trades, so if he’s got $50,000 he’ll borrow another $50,000 to increase his position to $100,000.
Yes, this increases risk and volatility; but with trading and any other wealth creation endeavor it is easy to forget your number one mission: MAKING MONEY.
That’s the problem with a lot of vendors, promoters, and authors — even the good ones. They never really focus on the main mission. But then how popular would a book be if it says - "if you’re not in extreme discomfort for a considerable period of time - you’re probably not doing enough or taking enough risk to get wealthy".
One of the few who’s addressed this is British publisher Felix Dennis in his book How to Get Rich. “Tunnel vision helps - Being a bit of a shit helps;” He said about what’s needed to get rich. “A thick skin helps. Stamina is crucial, as is a capacity to work so hard that your best friends mock you, your lovers despair and the rest of your acquaintances watch furtively from the sidelines, half in awe and half in contempt.”
A lot of us get lost in indicators, testing, risk management and often forget that you have to take risks to get big rewards. Yes, it is crucial not to get wiped out, but being risk averse is as bad as taking too much risk.
Dozens and dozens of self-made millionaires are like Zanger and put their balls on the line and take big risks. Without exception, they all speak of taking it to the edge and being in real discomfort to make it.
We all have to make a choice: Turn up the heat and have a shot at getting really rich. Or play it safer and settle for less. Both are valid choices !
Dan Zanger, is probably one of the most successful momentum traders of all time. Last year alone he made $22 million largely on big trades in Google and Apple.
His strategy involves buying stocks breaking out of chart patterns including flat bases, flags and pennants, on big volume. Zanger puts a lot of emphasis on volume.
Zanger has become immensely wealthy using tools and chart patterns at everyone’s disposal and available in most technical analysis books.
Why? Because he puts his balls on the line all the time. He uses margin on all his trades, so if he’s got $50,000 he’ll borrow another $50,000 to increase his position to $100,000.
Yes, this increases risk and volatility; but with trading and any other wealth creation endeavor it is easy to forget your number one mission: MAKING MONEY.
That’s the problem with a lot of vendors, promoters, and authors — even the good ones. They never really focus on the main mission. But then how popular would a book be if it says - "if you’re not in extreme discomfort for a considerable period of time - you’re probably not doing enough or taking enough risk to get wealthy".
One of the few who’s addressed this is British publisher Felix Dennis in his book How to Get Rich. “Tunnel vision helps - Being a bit of a shit helps;” He said about what’s needed to get rich. “A thick skin helps. Stamina is crucial, as is a capacity to work so hard that your best friends mock you, your lovers despair and the rest of your acquaintances watch furtively from the sidelines, half in awe and half in contempt.”
A lot of us get lost in indicators, testing, risk management and often forget that you have to take risks to get big rewards. Yes, it is crucial not to get wiped out, but being risk averse is as bad as taking too much risk.
Dozens and dozens of self-made millionaires are like Zanger and put their balls on the line and take big risks. Without exception, they all speak of taking it to the edge and being in real discomfort to make it.
We all have to make a choice: Turn up the heat and have a shot at getting really rich. Or play it safer and settle for less. Both are valid choices !
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