there have been several threads on ET that got me thinking about monk traders. you know, those guys that are just interested in a large trading account and little more than average living arrangements---although they could afford to live MUCH better. how do you define yourself ? are you a monk trader or someone who wants to LIVE WELL ?? best, surfer
For me, right now, my priority is to not have to work for someone else. Once I can do that, then I will want to buy nice things. When I have some nice things and I'm happy with what I have, then maybe I can see someday that it will just be a game for me and will probably just see how big I can make my account. F. P.
Grew up without much...dreamed of big house, fancy cars, etc. Made a couple of bucks and bought a big house (6,000+ s.f.) on 2 acres, had cleaning service for inside, lawncare service for outside, housecare service for all repairs/upgrades, executive chef (came in twice a week and prepared all dinners for the week...just thaw and microwave), and had a cpa to take care of all the bills so all I had to do was work and enjoy life. Now...smaller house in a middle class area, lawncare service, cleaning service, go out to eat almost daily, pay own bills. I found the journey more exciting than the destination. It's nice being able to go anywhere and do anything without worrying about the bill. In the end, I think successful trading is all about financial freedom. It really isn't about the big house (unless you have a big ego that needs stroking). If you do make it, don't tell others what you do for a living (if you do...you'll regret it). Also, don't tell your kids that you've got a couple of bucks to your name. (you'll regret that too)
Can you get into this a little more? If you tell someone you trade, you'll regret it because? If you don't say you trade, what DO you say then? I'm not necessarily disagreeing with you. Just trying to learn from your experience. F. P.
I prefer to live WAY below my means ( Thats how I was able to save enough trading capital to quit my job to trade in the first place). Freedom experienced from having very little debt and a fat bank account brings me way more pleasure than material things.
envy...pure poison (learned the hard way) everybody likes to believe their struggle to pay bills, put kids through school, projects needing to be done around the house, have a decent retirement, etc. is a shared experience among all their friends. When they find out that isn't the case, envy takes over. I lost some good friends because they were intimidated by what I did and my success. They felt uncomfortable around me and we never clicked as friends after that. Much better to keep your mouth shut. If a friend is having trouble paying bills and you want to help, do so anon. I tell people I made a few dollars from the dot com years and now I'm unemployed if they ask what I do.
I like life on the simple side. I get to enjoy it more that way. Life can be awfully short to spend all your time working for things you do not really need. The best things in life are for free. (unless you are ugly and have to pay for it)