Trading is not easy, especially for beginners. Yet, Alex Gerchik managed to earn millions of dollars with no trading background and only $400 in his pocket.

Alex Gerchik is a well-known trader and investor, but there are still many beginners who have no idea about his story and achievements. In reality, his story is enough to inspire many people, as he successfully made his first million dollars in one year with only $400. Alex Gerchik has also appeared in the documentary Wall Street Warriors and is currently the owner of an international brokerage firm. Are you curious what the secret behind his success? Check out the story below.

Alex Gerchik

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Who is Alex Gerchik?

Alex Gerchik is a trader at the NYSE and amazingly, has not had a loss in day trading in 15 years, that's why he is known as one of the safest traders. From 2003 to 2009, Alex Gerchik was a managing partner of Hold Brothers LLC. From 2011-2014, he held the position of co-owner at FINAM Management. In 2014, he founded Gerchik.ru, the largest stock market-related educational project in Eastern Europe.

Alex Gerchik has also published many trading books, such as "The Exchange Grail of the Adventures of Pinocchio the Trader", "Stock Exchange for Blondes", and "The Hunt for Gerchik in a Trading Jungle". He starred in the HBO-Mojo project Wall Street Warriors in 2006 because of his nickname as the safest day trader on Wall Street.

Over 15,000 students learn to understand the stock market and make loss-free deals with Alex Gerchik. His knowledge and expertise have helped thousands of traders make millions of dollars.

See Also: Forex E-book Collection

 

The Beginning of His Trading Journey

Originally from Odesa, Ukraine, Alex Gerchik migrated to New York in 1993 with a college diploma majoring in food technology and basic English skills. In the US, Alex got a job as a taxi driver, met lots of people, and took a special interest in stock trading. At first, terms such as futures, options, and spreads sounded foreign to his ears, but this actually fueled his desire to become a trader.

At first, Alex joined a brokerage firm without really knowing the characteristics of the stock trading business. Watching the massive trading floors was a very exciting experience for him. The reason Alex stayed? He said trading is his true passion, so it's not surprising that he hasn't stopped trading until now.

At that time, Alex had $400 in his pocket and four brokerage licenses that he studied so hard to get within several months. During his first year as a self-taught trader, he worked with America's top universities' graduates. Alex doesn't have an academic background like them, hence, he has to work twice as hard to get to know the market and learn how to make money there.

In 1997, Gerchik took stock exchange courses and became one of the brightest graduates. Later, he got a job as an assistant trader in a small company for 8 months. His experience there laid the foundation for Alex to become a successful trader in the future.

A year after starting trading, Alex managed to find his own trading style and started trading consistently without big losses. Because of that, the company let him use leverage to make large capital transactions and get big profits too.

Between 2003 and 2010, Alex Gerchik worked as a managing partner for Hold Brothers LLC, which is one of the 3 largest brokerage firms in the United States. In 2006, thanks to Alex's expertise and contributions, Hold Brothers became a member of the New York Stock Exchange.

In 2006, the name Alex Gerchik became known thanks to the Wall Street Warriors documentary. Wall Street Warriors is one of CNBC's top projects, a reality show that gives a glimpse into how money is made on Wall Street. The people featured in it are famous and successful traders. There was a massive casting going on with over 2,000 candidates interviewed to be in the documentary.

Alex felt he was chosen because his trading performance was able to spark the documentary team's interest. When invited to join the project, all of Alex Gerchik's statistics, results, and trades as a whole for the last 8 years were carefully examined. They found that Alex only had a whopping 9 days lost between 2001 and 2003.

At that time, Alex was trading intraday and making 1,000 to 1,500 trades concurrently. Additionally, he hasn't had a single month of losing since 1999 which is a rarity for traders. 

The documentary further increased Alex's popularity. The problem, he argues, is that trading is about day-to-day work, market analysis, and risk management, so the reputation of a trader doesn't suddenly make the whole process simpler or easier.

 

Gerchik & Co.

Alex Gerchik often hears complaints from his students who wish they had better trading conditions and services. In order to help them, in 2015, he and entrepreneur Ivan Kroshnyi founded a company called Gerchik & Co. The company aims to create comfortable trading conditions for both beginners and professionals.

In 2021, Gerchik & Co. managed to reach #3 globally due to the excellent quality of trade execution. This means that traders at Gerchik & Co can avail of the best and fairest quotes. Alex Gerchik said that his company is very transparent and straightforward.

Many traders and investors choose Gerchik & Co because they trust the name Alex Gerchik and have seen his achievements. They understand that the company is credible, considering that the president himself is a professional trader.

In addition, the reason why Gerchik & Co. is so popular is the existence of a unique tool called the Risk Manager. It is a software solution that controls trades automatically and doesn't let you take more risk than you can afford. What you do is set relevant risk parameters such as risk per trade or per day, and once these thresholds are exceeded, the Risk Manager deactivates the trade altogether.

 

What is His Trading Strategy?

Alex started trading independently at a brokerage firm called World Co. which focused on day trading. At this point, Alex Gerchik has begun a Trader's Diary aka a trading log where he recorded all the details of his financial transactions and analyzed them to identify the strengths and weaknesses of his system.

Alex Gerchik specializes in day trading which requires strong analytical skills, endurance, and the ability to handle large amounts of information.  Since 1999, he has succeeded in becoming a trader who has never lost on his record and is known as the most reliable and safest day trader.

Through systematic and transparent recording, Alex created his own stock trading system. And with that setup, Alex earned his first $2 million in 2000. Up to 2003, he improved his trading techniques by having only 9 losing days in day trading. There haven't been any losing months since 2000, as all income is confirmed by tax returns.

The secrets of Alex Gerchik's trading strategy have remained unchanged today: he trades in financial markets, perfects his own brokerage skills, and shares his knowledge with others.

Trading level is the backbone of Alex's strategy. It is a specific area in the chart where the largest capital is located. If you see where the big players are pooling their money and understand why they are doing it, you can make the right decision to buy or sell an asset.

And obviously, applying solid risk management is a must. When trading, Alex always calculates the risk and teaches others to do it too. It is important to understand how much money you will lose than how much profit you will make if you win.

With 20 years of trading experience, Alex is often asked to host workshops so he can share his biggest secret: how to make money without losing. This course is organized in such a way that it can be useful and clear for beginners and professionals alike.

Beyond that, Alex Gerchik also created Reboot of Your Trading, a practical trading course. More than 20,000 students have put the method into practice, and have successfully increased their trading profits several times. In addition, he has given hundreds of in-depth interviews and analytical reports.

 

Advice for Beginners

However, Alex Gerchik's story was not always gleamed with success. There was a time when Alex lost all his investments for three weeks which taught him the lesson that learning not to lose is more important than learning to win.

In order to trade successfully, the main advice from Alex Gerchik is strong self-discipline. This will help you trade solely based on your trading strategy and not let emotions such as fear, thrill, or greed rule you. As we know, 90% of traders tend to lose everything when they are not disciplined. But as long as you have the right mindset and preparation, you can definitely earn a consistent profit.