Money is awesome! Don't fool yourself with philosophical discussions otherwise. Yes, happiness, love, spirituality are all also important- but you can absolutely have all these things in addition to money! In my youth I used to tell myself that all I needed to survive was rice and soy sauce. I do love rice & soy sauce. I grew up on it. My family was poor. But when the money starts rolling in and you start eating oysters, caviar, shrimp cocktail, drinking fine wine, and fancy desserts I can't even pronounce. Now that's the life. I love eating at fancy restaurants and I love piling on the appetizers. I'm often full before the steak & lobster arrives! Yes, I know there are starving people in Africa. Yes, I feel guilty spending over $100 on dinner for two. Yes the liberal democrats make me feel guilty about my station in life. So I donate both my time & money to worthy causes. Try taking $50k in $100 bills to you to Vegas. Don't bet more than $200 at any one time and just stay until the money runs out. The dealers often ask me "so how long are you in town for?" and I always say "until the money runs out". You can trade at the business center or if you have fancy hotel with internet you can trade from your room. I just trade the first 2 hours of each morning. Count your money when you go to bed and when you wake up. It's a GREAT feeling! I enjoy life to the fullest, and money makes it all the fuller.
So you expect me to close my account, goto the bank, and count all the money? You want me to be like Jesse Livermore? I actually have a Air-cleaner and a fan in my room. I actually keep the computer hardware in a closed closet with a fan running. I don't want all these cords behind the desk and around the electric plug. Also, I don't want the Nicotine to mess the computer up. Computer screen is fine for now. I'm a cigarette guy, sorry no cigars. Still, the first day trading with a cigarette in my mouth was just a great relief.
I didn't grow up poor. Maybe if I had, having money would be a treat. I didn't, it's not. We ate at all the fine restaurants, wore all the best clothes, had all the best sports gear... wanted for nothing. Had a new corvette when I was 16. What my friends didn't have... we bought for them. My dad put more than a few of our friends through college. I always recognized, however, that it was my dad's money, and not mine. I wanted mine. Well I made mine, and you know what... my stomach is no more full whether I eat out or stay in. Of course I am a good cook. And I don't hit a better golf shot with a knock-off or a Ping. And by golly, when I'm driving 65 in the family minivan, it is just as fast as my wife's Volvo. But there is nothing like the feeling of bringing a fresh baked turkey with all the trimmings to a family that wouldn't have eaten quite as well on Thanksgiving Day. Or seeing the smiling faces when the family you have adopted for Christmas comes in to your home to share Christmas day. Or the beautiful pictures of the children you support in third world countries. No, I don't know what it is like to go to Las Vegas with 50K to blow. I think about how many Bibles that could send to China and shake my head. Not so much at blowing that much money...but moreso that that much money would be just a drop in the bucket towards the needs of so many people. But it would be one drop more than they had before.
Nice post my NUT SAC. it's the typical type of post everyone loves to say "oh my isn't that nice. isn't that wonderful. he found the low rd." or is that the low road? hahaha
Consistent profitability in trading isn't the most important thing in life but it rates pretty high in trading. If you are not profitable in trading long enough you are going to either have to figure out a way to subsidize your trading or quit. I have only traded stocks for about 6 years but I have traded real estate, commodities (not futures or options but physical commodities), some futures, and even currencies (when I lived in another country and needed to market and ship across international lines). I have also purchased rebuilt and then resold failed businesses for about 40 years so I have had the opportunity to observe what makes small business or even large ones go or fail. Without a doubt the difference between success and failure is the people involved. Some have plenty of capital and still fail, others have almost no capital and succeed but the common thread is always the people, their attitudes and abilities. I have read here about the high percentage of traders that fail and I wonder if the percentages for failures in small businesses is much different. I do believe that ego is a main stumbling block in either trading or business but it is a problem that is very, very hard to master. In either business or trading you need to stick to the plan and pay attention to the numbers or charts or whatever but if ego and the emotions that accompany it creep in you are going to make a mistake. Also I don't believe there is a set amount of capital above which your worries are over. I know people who travel only in Gulfstreams and others burying their money in coffee cans in the back yard who seem to worry about equally whether or not they will go broke, so amount is irrelevant. You can tell the ones burying their money because they don't pay their bills when the ground is frozen. Enough rambling.
>Consistent profitability in trading isn't the most important thing in life but it rates pretty high in trading. hahaha, yeah i'd agree with this. definitely up there near #1. uhhhh no, it's #1 #2 AND #3! this thread is a dumb idea.
I do indeed donate both time and money to many worthy causes. But I do try to keep in perspective personal satisfaction/luxuries vs. philanthropy. If the liberals would have their way, we would all be giving away all of our disposable income to save the world. I am constantly made to feel guilty about my success in life from politicians, church, and TV infomercials. do my part, but without my secular pleasures I would not be motivated to succeed as much, and hence would be less capability to donate as much.
That's because you don't have it... envy me!!! You'll never get it with a attitude like that... You're a typical prey for me when I trade. Keep on trading and I'll profit from guys like you.