Tony Pawlak – Stop Trying to Get Rich Overnight

BIO: Tony Pawlak is a full-time stock trader and options instructor at Real Life Trading. It’s his life mission to help others face their fears and live their dreams. STORY: Tony lost almost $100,000 in trading. More than half of this was bank loans and credit card limits. LEARNING: If you view the markets as a get-rich-quick method, it will burn you. Assess risk before you go in and manage it when sizing your position.   “Stop trying to get rich overnight, and invest in yourself.”Tony Pawlak  Guest profileTony Pawlak is a full-time stock trader and options instructor at https://www.reallifetrading.com/tonypawlak (Real Life Trading). It’s his life mission to help others face their fears and live their dreams. Worst investment everTony ran a trucking company for years, spending 60 to 80 hours weekly. After eight years in the family business, he was out of shape, miserable, depressed, and felt he was wasting his life. Tony had a feeling that he should go into trading. So for a year or two, he would listen to podcasts and try to learn as much as he could. Finally, he felt the time was right to quit the job and go to trade full time. Tony started with a $30,000 trading account and believed he’d turn it into $500,000 in just a couple of months. In just a month, Tony had blown the $30,000. He had $20,000 set aside to pay bills for a couple of months. He took that out and put it in his trading account. That amount lasted another three weeks until it dwindled down to about a couple of thousands. Tony went to the bank, took a $20,000 loan, and put it into his trading account. That loan lasted another month and a half. He went back to the bank a second time and got another loan. Tony lost that too. The third time he went to the bank, they gave him a couple of credit cards worth $15,000. Tony wanted to abandon day trading for something more consistent. He decided to try credit spreads and built a trading strategy he hadn’t seen elsewhere. Tony spent about three weeks just figuring out the ins and outs of