is the stress you get from trading worth it? is life all about money? is trading AS A PROFESSION the worse job there is? most people who trade don't want to merely work for themselves, or make extra money. they want lots of money. but is the energy and time and stress, and the years trading takes from ur life really really worth it?
When I was trying to get into the game I went to a family friend for advice. He was a NYSE floor trader with Bear for 30 years. Highschool to the floor. He told me "if your a trader its in your blood, and if it is you will make it work". Edit = most traders I know do it for the game itself. Money is secondary.
I was/am very much into poker. Trading is a natural extension of my poker playing. As I've told a number of people if the money was taken out of poker, then what would be the point? So the money is important. People who trade have to be able to take risk, just like in poker. Conservative people will never make it.
maybe the question i should've asked is: can anyone be profitable trading without given all their life to it? i don't know any profitable trader who has a free life away from the market too.. if u know wot i mean.. can trading full time successfully or not, be trully integrated into a happy life? i think the plan for most is: trade and make lot of money, THEN LIVE LIFE.. and for some, the living never happens, because they either lose it all, or don't make enough and never meet their expectations.. they get stuck into a pipe.. they'r life becomes trading.. wining and losing.. and ends with nothing. in short, life is much more than speculation. hope u agree..
I don't get it Batman, why are you so hell bent on proving that day trading is the shittiest thing in the world? Did you try and fail, now you're justifying everything? Please help me here.
Jho what are you talking about? who said anything about day trading? huh? wot the hek.. TheCaracal, that's why im asking.. i thought maybe i can understand.. i'm not sure myself.. i definately believe trading etc. all comes down to personality, and how u view money and life. the way i see it, money is trading's ultimate objective. sure it excites some people, but you really believe those "i trade for fun" would be so dedicated if it didn't have no return? so moving on our discussion, the more money you want > the more hard work > better trading? maybe the point is this: successful traders don't see the other sides of life - purely and conditionally given their dedication to trading, which is necessary to be successful at great levels. you can say it's the same in all professions, but there aint as much 'losses' in others.. less speculation.. less volatility.. playing with risk can distroy the soul for some.. to trade for living u gotta be one raw cold hek of a bastard..
Mike I agree completly with everything you said, but I have couple of questions for you. 1) What do you do? What kind profession are u in? 2) Have any advise on what to do to succeed, while you are still in college? PS I am going to college next year, looking for help now. Dont get me wrong, I am not looking for life advisor but I am looking for help. On great man once sayed..." Life is to short to learn from your own mistake"........so I am trying to learn from other.....get the drift. Thanks in advance