Alex Gerchik is a renowned trader and investor whose journey serves as an inspiration to many. Starting with a modest $400, Alex managed to generate $1 million within one year. Here's the complete story of Alex Gerchik's path to success.
Who is Alex Gerchik?
Alex Gerchik is a successful trader based in the New York Stock Exchange (NYSE). Known as one of the safest day traders, Alex maintained a flawless record without losses for 15 years. From 2003 to 2009, he was a managing partner at Hold Brothers LLC and later co-owner at FINAM Management from 2011 to 2014. He also founded Gerchik.ru, the largest educational project on the stock market in Eastern Europe, and authored numerous trading books.
Alex Gerchik's Anti-Loss Trading Strategy
Transaction Logging: Alex began his focus as a day trader at World Co. He meticulously recorded all transaction details and analyzed them to identify strengths and weaknesses in his system. His stock trading system helped him earn $2 million in the year 2000.
Psychological Levels: Alex's primary strategy involves trading using psychological levels, which are key price levels represented by round numbers. Understanding how institutional players use these levels aids in making informed decisions for opening and closing positions.
Risk Management: Alex emphasizes disciplined risk management. Calculating risk-to-reward ratios rigorously is crucial in risk management. Traders need to assess how much they are willing to risk compared to the potential profit.
Early Success Story of Alex Gerchik
Within a year of starting trading, Alex found his unique trading style and began generating consistent profits. World Co. eventually allowed him to trade with substantial leverage for higher profits. Since 1999, Alex has been known as a day trader who never loses money monthly, making him one of the safest day traders.
Popularity and Documentary Film
From 2003 to 2010, Alex worked as a managing partner at Hold Brothers LLC. Thanks to his expertise, Hold Brothers became a member of the NYSE in 2006. His reputation grew further after appearing in the documentary film "Wall Street Warriors," which showcased how money is made on Wall Street. Alex was featured due to his outstanding trading performance, experiencing only 9 losing days from 2001 to 2003.
Establishment of Gerchik & Co.
Alex frequently heard complaints from his mentored traders about better trading conditions and services. To assist them, Alex and Ivan Kroshnyi founded Gerchik & Co in 2015. The company aims to create comfortable trading conditions for traders. By 2021, Gerchik & Co achieved a global ranking of 3rd place, thanks to its excellent transaction execution quality.
Alex Gerchik's Advice for Beginner Traders
Self-Discipline: Alex emphasizes the importance of strong self-discipline. Traders must adhere to predetermined strategies and not let emotions such as fear, thrill, or greed influence their decisions.
Mindset and Preparation: Traders should have the right mindset and preparation to achieve consistent profits. Alex always teaches that learning not to lose is more critical than learning to win.
Alex Gerchik's story is a testament to how perseverance, discipline, and effective strategies can lead to success in trading. Starting with just $400, Alex managed to reach $1 million within a year. His journey inspires that with the right approach, anyone can achieve success in forex trading.
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