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Ralph Nelson

Here’s How I Stayed Afloat When The Market Fell Apart

I’ve now experienced two once-in-a-lifetime economic crashes, one in 2008 and one just this year. Like many millennials, I have a somewhat shaken faith in the economic structures in place. I have student debt, I’m concerned about incurring medical debt, and, for a long time, I was anxious about what my retirement would look like.

Now, my retirement has been cleared up a bit thanks to some diligence on my part. Not only did I get strict about maxing out my IRA, I also found ways to invest in the market without over-investing my nest egg.

That approach—not giving away too much of what I’d earned—inadvertently is what helped me make it through the see-saw of the market recently without pulling my hair out. And it’s now the investing strategy that I’ll use from here on out.

Why? Because it supports risk without being too risky. If that sounds like a paradox, you’re not far off. If I hadn’t gone through it myself, I wouldn’t have understood it either.

The first thing I did was engage more actively with my roboadviser, which oversees my IRA. Because I’m (relatively) young, I made sure to focus on taking in more risk because, over the next 30 years, there will be a lot of volatility, but things will most likely trend upwards. It’s the American way.

Second, I found an analytic company that would let me learn as I went, feeling empowered and bolstered by the experts who had my back. Chaikin Analytics was my analyst of choice. Their affordability and ease of use made them an obvious winner.

Conversely, I found a way to invest broadly without using my own money. And that’s how I’ll invest until I know this current economic predicament is behind us.

Here’s how I did it: first, I researched a variety of prop traders. Prop traders are companies which allow you to trade with their capital and split the profits.

I should note, however, that “split” is a generous term. Most prop traders want you to do all the work and take home 10 or 20% of the profits.

That’s why I was so excited to find Try2BFunded. What made Try2BFunded different than the frustrating other prop traders I tried was that the cut was better for me than it was for them. I get to take home 60% of my profits every two weeks. As far as I can see, no other company can come close to matching that.

Now, as with everything, there’s something of a catch. Though I now take home 60% of the profits, I had to prove I could make it past Try2BFunded's qualifying round. That process, which I found kind of fun, took about 5 weeks.

If the qualifying round sounds intimidating to you, I ask you this: wouldn’t you want someone to prove their worth before you gave them $100,000 of your money to play with?

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