Registered: Jan 2006
07-11-06 03:50 PM
Quote from tivthetrader:
when i first started trading for a firm in 1988 on wall street, there was an older guy who sat next to me who was the greatest chart reader in the world. great trader married 4 times.
as a younger guy,i couldn't figure out why a guy making all that money would ever have such problems in his marital situation.
18 years later, some consider me a pretty good trader. i couldn't stay married either. trading well has its negative side, as it a mistress that is always there- hey it s 6.48 on mothers day and i am watching the futures after making millions last week; it is 85 and sunny outside, there are a million other things i could be doing, yet i am scalping the futures.
i'm an addict there is no doubt; it makes me good at this but there is a cost- so to you younger guys out there, make sure you have a wife who can handle the swings and who understands that to succeed at this , you must maintain the passion , desire, and hunger.
on the other hand, how could i not watch the futures right now; tonight could be crazy.
I know what you're talking about, just returned from a month long "vacation" in Florida and probably watched the market and CNBC for a good half of it. I probably traded for a good 15 days of the "vacation" (damned WiFi, I absolutely love it!). I spent my "spare" time poolside reading assorted books about economics and trading, you know the entertaining stuff.
Funny, Livermore also wrote about how he curtailed many of his fishing trips and vacations in order to trade. The killer fact is that the more successful you become as a trader, the more time you tend to spend researching opportunities. You are correct when you say it needs to be a passion. The money is really secondary, more of a way to keep score on how well your thoughts and theories have panned out.
No doubt that the successful traders NEED A VERY UNDERSTANDING family support system with a strong spouse at its center. Trading ain't easy and you'll find things out about yourself and your spouse you may never have thought were true.
Good trading is truly a journey that I enjoy.
Good thread BTW, one of the better ones.