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Listen to “How did I become a trader?” on Spreaker.


Hi guys hi from Andrea Unger.

How did I become a trader?

I’ve often discussed this, but I’m also often asked so let’s go a bit back.

In ’97 I was working for a multinational company and talking to friends we started investing in some stocks and I did make money, so of course, I was happy and afterward I also purchased shares from the company I was working for convinced it was a good company and it was.

I made money but then the moment came when I lost money and I lost a lot of money. I was good enough to apply my first stop loss because I saw that the situation was that tough and probably the value of the stock was supposed to fall even further so I decided to quit, to close the position.

I did it and I saved some extra losses. That was my first stop-loss, I stopped the pain by exiting the position and I lost a lot of money.

So then I had to figure out what to do, it was nice when I was making money, it was bad when I have lost money.

I decided to study a bit more. I saw I read about a guy about the championship in Italy, a guy making thousand percent and I found out that he was actually trading some specific instrument, Covered Warrants.

These Covered Warrants, I found out later, had inefficiencies. They were quoting delayed.

So they had options with a delayed quote, so actually you could trade the inefficiency in a sort of arbitrage mode and make money, you could buy something that you knew would quote in your favour some seconds later.

That’s what I did, I started and I did make money and I started making money. After two months seeing that that was a stable income I quit my job.

I talked to my mentor of that time, Domenico Foti and he said: ” Oh you’re crazy!”, and I said: “Why? I am making money?” I was crazy!

Today I’m here, so you might think I’m here to say: “I was right!” No! I was crazy, I was crazy to quit my job, a very good position, in a multinational company, about 30 people under me in my sector and I left that job to start trading for a living and to start in a way that is no longer there today, no Covered Warrants are left, not Covered Warrants intended as that kind of inefficiency.

Was I good? No, I was lucky! I was lucky to be in the right place at the right time.

The right time would have been a couple of years before, but okay let’s say it was the right time because I was able to work on that kind of inefficiency for a couple of years to come. So if I met a young Andrea Unger today, talking about that decision, I would say to him: “No you’re crazy!” Just because it’s true.

Probably I should have found a parallel way to better evaluate that, two months are not enough and so I was lucky to find the right conditions. What happened after that?

After that, that’s where I was clever enough and smart enough, I understood that thing could not last so I started studying how to evolve and how to really face the real markets once the video game on Covered Warrants was over.

So I started studying automated trading and that’s why I’m still here today.

I was able to go through the evolution in the markets and in my trading style to build my trading skills, the ones I use today.

What’s important in this path? it’s important that I consider crazy what I did, I consider how lucky I was and yet I was smart enough to understand that I had to study, I had to build my knowledge, build my culture in trading and I did it.

Thanks to that, which I was doing parallel to the video game, I was able to face the markets the way I’m doing today, I’m still doing and I will probably do for the next years.

So actually the necessity to study in order to go together with evolution is a must for everybody. So what about today? If somebody wants to quit the job today to become a trader?

There are no Covered Warrants or inefficiencies, maybe there are some other parts of the trading world, I don’t know that, unfortunately, but today it is true you don’t have that, but you have an enormous amount of information which was not there 20 years ago, thanks to the growth of the Internet and of the financial information inside Internet.

On one side this is good because you have a lot of things to study, on the other side it is bad because in this lot of things that are also a lot of scams and a lot of bullshit.

So actually, you have to filter, you have to be careful about that, but you have the opportunity to study. Don’t quit your job, study first.

Studying is always necessary to stay up to date and to stay tuned in order to face what the markets are demanding. Markets are difficult and are in continuous evolution, so we need to keep on studying. You understand one thing, I was looking for independence, freedom, meritocracy.

I found this in trading, but what animated me throughout the path is passion.

I love my job, I love to figure out markets, I love to study what to do to keep on being profitable, what to do to find new edges, to find new ways to trade, because I like it, I really like it and enjoy it.

Without this passion I would have probably quit because it would have become compulsory to study and that would have been annoying, while loving it, I like to study and to learn new things and thanks to that I’m until here. So if you love the idea of figuring out markets, ok study the markets, don’t quit your job, don’t do it today.

Wait, study, try to find a parallel way to study because it’s important to build all the infrastructure inside yourself first of all, before making a strong decision as quitting a job.

That’s it, I hope it helped, just to have a brief look into my past if you have any question about some specific points please write I will be happy to answer.

Ciao from Andrea Unger, see you next time.

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