A ‘hardcore’ trader has revealed his secrets to making millions, as well as sharing his own humble beginnings.
When David Capablanca first started out, he had very little cash in his bank account and almost no experience, but was determined to make it big.
To pay his way through online trading courses, the former architecture student took on numerous tutoring jobs to support himself.
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And now it’s all paying off, with the money rolling in.
But if you’re looking to replicate his success, be warned: the trading lifestyle “isn’t for everyone”.
While David says it’s not exactly like popular films such as Wall Street or The Wolf of Wall Street, there are certain elements that are accurate – like the extreme pressure.
“I’m hardcore – I just love this stuff,” the trader, who shares his insights into his lifestyle on Instagram (@reverselong).
“Trading is a mentality.
“I can’t break character, if I think like someone who loses, I’m going to lose money – I don’t want to lose money.
“A lot of traders want the dream of working five minutes a day and that’s what sells on TikTok but that’s not true.
[Starting out] I would work from 6am until 2am – it was pretty intense.
“My parents instilled a strong work ethic in me.
“They were both successful; my dad emigrated to the US from Iran and became a mechanical engineer [and] my mum came as a child to the US from Cuba.
“I started out by doing online courses, just focusing on learning as much as I could, and finding success for myself.”
The self-made millionaire, originally from Miami but now based in Los Angeles, has made his fortune selling shares high and buying them back low, by borrowing security – a method known as short selling – which has seen him turn a huge profit.
While he initially worked almost round-the-clock, David now achieves the same strong results trading just 4-6 hours a day.
But the fast-paced money-making method means he has to stay sharp, both mentally and physically, at all times.
A small mistake could cost him thousands, or even millions.
David also battles an additional challenge as a trader, having been diagnosed with a brain tumour in 2010.
He had to relearn basic functions, such as walking and talking, but has since made a full recovery.
Having gone through this has pushed David to work even harder with what he loves and looking after his body as he does.
He said: “I’m constantly looking for areas to improve, keeping both my body and mind fit.
“I track my sleep, food consumption and water intake, and I hit the gym every day.
“I also take $300 worth of supplements every month, eight vitamins twice daily, and do BrainHQ exercises, developed by neuroscientists.
“I’ve also started doing rowing exercises and getting hyperbaric oxygen treatment and taking electrolytes constantly to improve brain function to perform at maximum capacity.
“I’m in this to achieve the highest level of success I can in trading.”
Sharing his advice with others, he reveals five tips for long-term, steady success.
PUT IN THE TIME
He said: “I succeeded because I’ve put in 20 hours a day for a few years.
“You can’t do this without putting in the hours.
“A lot of traders don’t know what they’re doing because they didn’t do the homework and that’s why they fail.”
FIND A MENTOR
Trading out of an office in Puerto Rico for a year, David worked with some of the world’s best traders.
He said: “Puerto Rico is a tax haven for traders and is a trading hub.
“I found a trading office there where I could surround myself with successful traders to learn from the best of the best.
“I signed a contract with a trading officer for a year before moving back to Los Angeles to continue trading.
“Everyone was very friendly, not to mention extremely successful.
“They were willing to talk and give advice even though I was a new guy on the block, after I developed relationships with some of these successful traders.
“[They saw that] I added value and they were willing to answer questions I had.
“It’s not like the movies at all.
LIVE WELL
He said: “Trading is a reflection of yourself and your personality.
“Your life outside of trading affects it so in order to perform well and execute your plans, you have to have your life in order.”
ADOPT A MONEY MINDSET
He said: “Your relationship with money matters.
“It is important to have a healthy relationship around money and change any negative association that you may have as it has a direct impact on your trading and can cause problems in your decision-making process on a day-to-day basis.
“Having a healthy relationship will allow you to operate with more confidence and less hesitation.”
PUT THE GRAFT IN
He said: “Hard work, good habits and consistency trumps everything.
“Stick with a long-term plan and vision for yourself, and work towards it relentlessly every day.
“Get better 1% every day and don’t give up.
“Then start to embody and become that future person in the present moment along with defining the daily rituals that remind you of being that future version of yourself now.”