The StockTwits® Edge: 40 Actionable Trade Set-Ups from Real Market Pros

CHAPTER 3

Don't Quit

Michael K. Dawson, @TrendRida

Michael is a skilled trend trader. You might not notice him when you first come to StockTwits, as it is not his style to boast after his winners. Michael will sneak up on you. He is an inspiration to other traders and a model of decorum, so it is no surprise that his words are a testament to persistence, will, and belief in yourself.

The game taught me the game. And it didn't spare me the rod while teaching.

—Jesse Livermore

BURNING DESIRE

On March 31, 2006, I walked away from a 20-year career in engineering, marketing, and sales to trade full-time on my own account. I'd be lying if I said that I didn't miss the sales conferences in Hawaii, building customer relationships on the 19th hole, and most of all the big fat paycheck—all perks of my last job. Many of my friends thought that I was crazy, and to be honest I had a hard time explaining my reasoning. My boss was cool. The pay was great. The work was challenging. So, why quit? It boiled down to this thing that many people have, but most suppress.

In his classic book Think and Grow Rich, Napoleon Hill describes an innate characteristic found in successful people. He called it a “burning desire.” Essentially, it is an urge, a passion, an inner drive that's so overwhelming that if denied it will make you miserable no matter how much money or prestige you have. This described my situation to the letter.

My initial attempt at addressing my “burning desire” happened four years ...