Michael Marcus

Do you know the taste of defeat? Do you know what it's like to repeatedly fall to your knees and get up from them? What does the phrase go ahead and achieve your success mean?

Perhaps you can imagine what it would be like for a trader to lose tens of thousands of dollars? 

Everyone is familiar with these phrases, but for some reason the vast majority, having at least once found themselves at the bottom or received their first serious losses, begin to forget about the dream of becoming a trader.

Moreover, it doesn’t matter whether it’s trading or business, in any field of activity there are ups and downs, and only strong people are able to achieve their own goals.

Michael Marcus is one of the most famous traders in the world, who managed to turn 30 thousand dollars into 80 million and take an honorable place in history as one of the most unique traders in the whole world. However, if the figure of 80 million today is not surprising, especially against the backdrop of such people as Soros and Buffet, then the path of ups and downs that Michael Marcus went through can be just an excellent lesson for those who have almost given up and abandoned their meta.  

Michael Marcus first learned about the world of stock exchanges while still a student at Johns Hopkins University. Having successfully completed it, he receives a scholarship to write a scientific dissertation, and a professional teaching path opens up before him. However, severe financial difficulties fall on his head, and he comes across a student named John who promises him financial independence and quick earnings on the commodity exchange.

I don’t know what Michael was thinking then, but he completely entrusts his entire scholarship to John and goes with him to the commodity exchange. As happens in life, John turned out to be a simple smart guy, but he was very far from real trading. When they arrived in the hall, Michael saw a board with numbers and quotes , which among the crowd could only be seen through binoculars.

One of the crowd members shouted, “We’re buying soybean flour,” and everyone, like a herd, and he and John, including him, ran to buy soybeans, but after a couple of minutes the quotes began to fall sharply and in one minute he lost 200 dollars.

Having woken up from the first failure, he and his partner decided to buy corn, but even then failure awaited them, after which a quarter of his capital was lost. An attempt was also made to buy wheat, but even here a large sum was lost within three days.

The scholarship for writing a scientific paper was melting before our eyes, and when half of the funds remained, John suggested playing on pork belly futures, deciding to buy contracts now and bet on a decline in future deliveries . Of course, Michael was gullible, and in the end he lost his last money. The latest episode caused a rift between Michael and his so-called financial advisor.

Second chance.

If most beginners at that time suffered such crushing losses, they would probably give up, but this is not about Michael. He actively begins to study literature and goes into independent trading. Transactions begin to bring profit and loss, but the insurance amount of 3 thousand dollars after the death of the father begins to gradually decrease.

However, at one point his assumptions about soybeans are justified, and Michael Marcus literally earns 30 thousand dollars over the summer. Seeing the news that locusts were actively coming to the fields, Michael decided to buy corn with all the money he had, but by making such a bet, he lost every penny.  

Having received a series of crushing defeats, Michael Marcus gets a job as a consultant analyst at Reynolds Securities, where he begins to conduct underground trading in spite of the company's prohibitions. Having borrowed money from his mother and friend, he begins to taste victory for the first time, turning $700 into $12,000.

Having carried out active trading and accumulated substantial capital, he enters the cotton exchange, and then actively tries himself in the foreign exchange market.

The white streak in his life was a reward for his many years of failure, and at the end of his career he amassed a fortune of over 80 million dollars.  

Perhaps you will see yourself in the story of Michael Marcus's failures, so his example should be your motivator to never give up!