Updated: Oct 11
I am ecstatic to be launching Essex Trading Apparel! During the pandemic and at the start of 2020 after a close friend of mine passed from COVID-19 I thought about the changes I, Miguel Ferreira (the owner), could make to not only help the economy, also new traders and investors in their journey in the markets. What better way then to launch a new business with clothes focused on trading and investing!
The Essex Trading logo is based off of the Fibonacci Spiral or the golden ratio that can be found in all areas of life, even nature! Also, these Fibonacci Numbers along with other methods are what I use to incorporate into my technical analysis of the markets to make money. Can you believe that? You can actually use ancient math developed by Leonardo Fibonacci from the Middle Ages to make money in the market!
Recently, during the pandemic there were 3 million new Robinhood traders that entered the market place in addition to a number of brokerage accounts offering free trading and investing services: E*Trade ($ETFC), Robinhood, and TD Ameritrade ($AMTD) to name a few. While this is exciting that there are many new traders looking to reap the rewards of the marketplace it's important to remember how badly this can end for new traders. In a July 8th NY Times Article it showed how one recent trader lost $806,000 in March!! Per the NY Times he "took out two $30,000 home equity loans so he could buy and sell more speculative stocks and options, hoping to pay off his debts. His account value shot above $1 million this year — but almost all of that recently disappeared. This week, his balance was $6,956."
Ask any new trader or investor and this story is nothing new. I, myself, have blown up a few accounts personally and the first time I tried actually trading a new account for my brother, it was one of the worst experiences I ever encountered losing him $9,000!! The great thing is that you don't have to go down this road and I want to help.
In addition to apparel, to empower you and help you create the right mindset, I will be utilizing the Blog on www.essextrading.com to help you learn more about the markets and making good conscious trading and investing decisions to make money in the market while protecting your profits.