Individual investors, both new and active, are increasing in number, reshaping and changing the trading and investing worlds. The Wall Street Journal reported last year that, according to Bloomberg Intelligence, individual investors accounted for an estimated 19.5% of US equity trading volume in 2020, a jump of more than 4% from 2019 and a doubling from 2010.
With similar reports coming in from online trading platforms, such as Robinhood’s Second Quarter 2021 results, Zack Morris, the Co-Founder of Atlas Trading, believes that there was also an increase in the number of people searching for tips and advice on becoming successful traders online.
“It’s natural for people to seek the best and easiest way to earn money by day trading – the perfect strategy to earn millions – as I was one of them,” he says. “When I started trading, I would spend sleepless nights doing research and learning about trading.”
Morris says that the Internet is a beautiful place where new traders can indeed find a plethora of knowledge but warns that not everyone is willing to help. “The Internet is riddled with fake investing coaches and gurus who boast their knowledge but ultimately drive these aspiring traders to their doom.”
Morris further explains that this is one of the reasons why millions of inexperienced traders never reach their full potential and are forced to abandon trading. “Trading is hard, but those who are willing to learn will certainly succeed,” he says. “It’s important to have a mentor that will guide and look out for you.”
With that in mind, Zack Morris joined his strengths with PJ Matlock, another successful trader, to create Atlas Trading. In this exclusive interview, Zack Morris reveals how he and PJ got the idea to create such a community and the reason why Atlas Trading became the world’s biggest online trading chatroom.
Where did you get an idea to create Atlas Trading?
My first trade ever was a huge failure. However, I was determined to succeed, so I started spending sleepless nights doing extensive research and mornings discussing strategies with other traders. That’s what helped me hone my trading skills, and that’s how the idea for Atlas Trading was born.
What do you think is the reason that Atlas Trading is so popular right now?
Before Atlas Trading, I created a paid chatroom with a few other traders. That project failed because we focused on getting members instead of making money, knowing really well that trading is where the real money was at.
Atlas Trading was designed with one thing in mind: to be a free way to access invaluable information and useful educational content on trading and to be a place where everyone can share their experience and ask for guidance.
I believe that Atlas Trading grew in such a short time because it is a community where any trader can learn how to succeed and because people recognize its genuine and sincere nature.
Since you are a seasoned trader with lots of successful trades under your belt, what is the biggest mistake that new traders should avoid?
One of the most common mistakes that beginner traders make is running around chasing hot tips and placing bets they don’t understand. Even worse, they sometimes find a so-called “trading guru” who then makes illogical buy-and-sell decisions on their behalf, which is a recipe for disaster.
Blindly following the trades that others make is why a lot of new traders lose all of their money and give up on trading. That’s why I always try to tell people to learn to trade on their own and manage their risk.
On the other hand, what is the thing they should do? What is the recipe for success?
To someone starting up trading, I would say to first learn the basics and start with a paper trading account. Try to make trades by yourself before you move on to trading with real cash. After all, it’s easier to “fix” imaginary mistakes than real ones.
One more thing, mistakes, and failures are inevitable, but they are the stepping stones to success. Learn from every mistake and failure to make sure that it doesn’t happen in the future. So, if you really want to succeed, you need to learn not to take failures to heart. Set your mind straight, be positive, and remember to focus on the endgame and on the money, because everything else is just noise.
