Forestfire... hmm.. that says more about you than it does about my carefree approach to typing...... why dont you highlight for us my mistakes.. rather than address the argument contained within it u know you should be able to get the gist of? what a silly doofus you are...
Forestfire.. thats a cheap shot aimed at not addressing the issue I'm afraid.. If I had half a tick for every grammatical / spelling mistake I had observed here Id be very rich and I'm not sure you even know exactly how to express yourself either ... but thats another huge thread and this thread regarding my issues you have STILL failed to adequately answer... c'mon lets see what LOGIC you really have However cheap "shoot from the bowel" shots cheapen YOU... drag yourself out of the stinking gutter with some logic I and everyone else will attempt to shoot you down or praise you for, dont get personal... get logical!!!!.. My strengths are LOGIC, Reason and concentration... be warned.... make it good or forever begone from here...cool?.... Are you still here?.. get writing lets see what common sense you actually have to contribute... I promise to argue my point with logic , clarity and an ability to accept I may be wrong.... can you? Paul
ahahahahahahahaha... I have been reading this forum for a long time without really participating. You see all the typical ET responses in this thread...such as "oh Im in the top 5%" and then the typical dosage of obnoxious responses. Dudes!!! Who really cares? If your the top trader in the world, how does that effect anyone's life? Even if I did care, which I dont, how credible is an anonymous name on an internet message board. Sometimes I dont understand this sorry excuse for a trading forum. "Also if you want to day trade because you don't like your job and don't like your boss...again...WRONG REASON! The successful trader most likely excels in all walks of business because they will do their best to be the best in all that they do. So if you suck at your current job what makes you think you'll do better at day trading?" What he is saying is that trading is a business and it requires discipline and passion...if you dont have discipline and passion enough to sit down at a regular job, then how can you manage a grip of cash to trade. Ok, now lets hear the typical ET responses comparing blotters and general obnoxiousness. You guys are so good at trading that you manage to post up here all day long. Yeah, thats what top traders at Goldman do. They post on a joke of a messageboard all day long. In any event, even if your in the top 5%, I really dont care. It doesnt change the way I do things. Rarely have I met a successful individual who brags about their status or where they are on the success ladder. Those guys do not tell you, they show you. Sorry about my spelling and grammar too, but Im a professional gambler and not an English teacher.
No, because most people who want to leave the corporate world and start trading do it because the bureaucracy of the corporations prevent them from excelling. They get sick of stupid bosses, office politics, backstabbing, redundancy, etc. So they look at trading as a way to be able to put in 100% and take 100% of the results. Same reason why disgruntled ex-corporates go on to start their own business. Getting into trading just because you dislike your boss is a rare, stupid & naive decision. It usually takes more than that, cause you can just go look for a new job instead. And many if not most successful traders would not go far in the corporate world. They would not be able to deal with the intrusive hand holding & manager bureaucracy. I can pick at other parts of that post that I know are wrong because I have been around a number of successful traders. I hate to break the truth, but most of it comes from natural talent. You either have it or you don't. Or you are in the right place at the right time and exploit an inefficiency. This nonsense about persistence is just pure BS. It's really all about having a real edge over the competition.
You are so dead wrong it isnt even funny. Most successful people knew what they wanted to do long before they started doing it. They realized where they wanted to go, usually in high school or college, and then began sketching a map on how to get there. Many of these successful people took jobs, at first, to learn their trade, develop contacts, etc. Once they had what they needed, then they quit their jobs and went off to do their own thing. The job was just part of the roadmap to a greater thing. They did not quit the job because they were disgruntled or office politics, but for higher reasons. Lets take, for example, President Clinton. He knew he wanted to be President at the age of 16 years old. Then he devised a plan on how to get there through certain jobs and education. Another example is myself. I grew up in Vegas and at an early age I knew I wanted to be a professional gambler. I then took jobs in the casinos. Some of the jobs were indeed blue collar type ones and then I worked my way into being a dealer. After a few years of being a dealer, then I worked my way into gambling. I didnt enjoy working in the casinos, but it was a neccasary step for the greater cause. In fact, if you quit a job or a profession because you dont like the office politics or some other similiar reason then your simply weak. If your only reasoning behind quitting is that you cant stand these things, then you have to rethink life son! Life throws everyone curve balls one way or the other. If your afraid of a little office politics or stupid bosses, then you have some surprises coming up your alley in life! As for trading, its about seeing the probability. In a bull market, the probability of things going up is great. When things change, then the probability isnt so easy to see anymore. Probability is never certainty. Seeing how all these hedge funds are blowing up left and right this proves absolutely that probability is not certainty... As for myself, while you guys are trying to figure out which way the markets will go tommorrow, Im going to be following the stock operator's book advice and go fishing.
someone posted in this thread that the motivation for traders is to make money. i agree and disagree at the same time. as traders we tell ourselves that we are here to make money and then we think that this is our motivation. telling oneself that you trade to make money is not a motivation.....it is simply your rationale for trading. your motivation on the other hand could be quite different.....maybe its the need for action, the need to be right (the old i can't take a loss issue), the desire to avoid a 9-5 job, etc. imo, emotions, ego, and discipline have more to do with being profitable then most realize (alright, i know i just opned myself up to an argument ...which is why come to ET less and less). here's a sceanrio for you to ponder (old-timers have probably seen this before) i forgot where i got it from, but the wisdom contained in it is priceless imo: Suppose you find a trading system that made money consistently in all market conditions. It was backtested objectively during independent time periods and handily beat your own trading performance. It also took less risk to obtain these results, with minimal drawdowns. The system's price is quite reasonable. The catch? The system trades four times a year. Would you obtain the system? Would you trade it? Would you buy it and then try to tweak it in various ways? Would you be able to follow its rules faithfully, or would you convince yourself in the middle of trades to take sure gains or limit losses? Such a system would not meet the needs of many traders: needs for action, needs to figure out the market on your own, needs to feel like *you* were beating the market. Money is the rationale for trading, but it is not the only motivation. Traders also trade to make themselves feel good, to validate themselves, to avoid a 9-5 job, and so much more. This is truly the source of most problems with "trading discipline": what we need to do to make money conflicts with the other needs that we impose upon trading. If we bring a host of unmet emotional needs to the perfect trading method, we will inevitably sabotage that method. A rich and fulfilling life outside of trading might just be the best trading strategy of all. i'm convinced that this is true. i've seen many highy intelligent traders with excellent systems and set-ups and they can't make money. if you are one of them, my advice is to stop tinkering with the system or set-ups and start tinkering wth yourself.