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The growth of Kristjan Qullamaggie from $5,000 to $100 million as a retail trader is an unbelievable story I just finished the first chapter of new Market Wizards book and am breaking down this journey in the following tweets
Qullamaggie was a security guard at the Nasdaq building in Stockholm in his college days in 2010. The guys in suits and attractive cars triggered his curiosity about markets. 2/n
Qullamagie saved $5,000, lost it all in the markets, and had to go back to his job. He came back again to lose his 2nd account worth $4,000 It took him 2 years to figure things out and become profitable. 3/n
Qullamaggie made more money than his imagination in 3rd year by cutting losses quickly and switching to a US broker to lower down commision by 90% 4/n
He primarily used 3 setups in his trading after analysing how stocks usually behave in markets 1. Breakouts (range + orb) 2. Episodic Pivot (event based) 3. Parabolic Short/Long (inverse expansion) 5/n
Qullamaggie made his initial money using intraday trading but eventually moved to swing trading to reduce stress and screen time. The idea was to make the same amount of money without tracking tick-by-tick charts on a daily basis 6/n
Breakout strategies are pretty much dependent on a bull market and can destroy your account in a bear market. The judgement of market environment is an important factor in deploying the breakout strategies effectively 7/n
Qullamaggie made a return of over 1000% in 2020. He turned $3.5 million into $36 million. The aggressive growth in his account continued and the figure went over $100 million by Nov'21. 8/n
Qullamaggie faced a $60 million loss in 8 months A lot of small loss-making trades in a bad market environment piled up, and 2022 became his first losing year after 9 consecutive profitable years He lost more than half of his account after paying taxes and buying a yacht 9/n
He was out of sync with markets and underperformed his potential in 2024. The major reason behind this was a lack of focus as he was travelling most of the time The primary focus is now on enjoying life along with trading instead of any pressure of exponential returns 10/n
Qullamaggie calls trading a lonely business and he started streaming his journey in 2019 to have fun He never mentioned his live trades on stream to avoid the unethical and common act of front-running followers 11/n
Qullamaggie doesn't recommend trading for anyone who isn't willing to put 60 to 80 weekly hours for multiple years 12/n
He mentioned 4 major mistakes made by traders 1. No clear setup to trade. 2. Lack of situational awareness 3. Taking positions too large for their account 4. Overtrading in a bad market environment 13/n
Qullamaggie believes he didn’t invent anything new. He learned from historical sources, studied how markets behave, and shaped those lessons into trading patterns that fit his personality. Learning Sources: 1. Thousands of Historical Charts 2. StockBee website by Pradeep Bonde 3. Observing Day Traders on Social Media 4. How to Make Money in Stocks by William J. O'Neil 14/n
Credits : Market Wizards: The Next Generation by Jack D. Schwager and George F. Coyle If you liked this thread, please share it with aspiring traders who can benefit from the journey of Kristjan Qullamaggie <a target="_blank" href="https://x.com/sumitkbehal/status/2051585726660419654?s=20" color="blue">x.com/sumitkbehal/st…</a>
How to get this chapter from Market Wizards : The Next Generation ? 1. Pre-order your copy through any retailer 2. Submit proof of purchase on Harriman House 3. You will receive the PDFs instantly from the website
