Why?? The top traders can make this kind of % and more. I know a guy who made about 1000% in a week. It is possible and i guess he can do it when he chose to. With a small account of course. And i do see myself that it is possible. Of course we can never be successful without taking care of risk. But it takes work to stay on the top. Some people have done that work and know "secrets" that the other traders are not aware of. Then the market is just a $ tree to shake at the right moments.
So is that all this business is about? Making money? Okay, that's the obvious primary reason people are traders, but what are the other reasons? Interest in the market? Thrill? What? Freedom at work, being your own boss? Basically, my dream is to be my own boss and own my own company somewhere down the road. I also want to have enough money to feel secure and have fun. That's about it.
For me right now it is about money. Food and rent.. Having $874207865 just means security and a bit more fun i guess. But at a later stage we can dig deeper into psychology, reality etc. Observe ourselves, others and the emotions in this mind game.
Some people just love the game. Tiger Woods would play golf if he wasn't paid, and Michael Jordan probably still shoots hoops. There are better paying easier jobs out there.
Eazy, Before you go out and decide to become a trader, find out what they actually do. All my life I wanted to be a trader(or maybe it was just after the time the movie wall st. came out) anyway, I thought that was what stock brokers did, which sounds like what you're going into. The CSC is great to have either way, But keep in mind... Stock brokers are salesmen, trust me I know, I was a financial advisor and I have all those stupid licenses. Being a stock broker or financial advisor (or whatever else people call themselves to hide what they really do) Is a great rewarding career, Just like trading. They both have a huge entrepreneurial factor, they both start out with low pay, and they both pay you based on YOUR performance. If you are comfortable calling people up on the phone, going around to all your friends and their parents and anyone who will give you a referral, selling may be your best bet. (I recommend taking the LLQP, Insurance commissions are very lucrative$) If you are comfortable not knowing if you can make rent every month, and are disciplined enough to budget. If you can put the same hours in everyday to only fail time and time again,and not considerate wasted time, then perhaps trading is for you. I'm only leaving you this note because you asked if their was room for advancement in trading. The answer is no. Traders can only advance in the room within themselves. I hope this helps. p.s. "It aint eazy" 88888s
I remember how difficult my first year was. Feelings of shame, worthlessness, self-doubt, mainly due to not knowing why I was "giving away" my hard earned money. I am very thankful for that experience now. It took a relatively short time for my pride and ego (my two demons) to completely break me down... booze, applied liberally, helped those nights. Today I am at point where those two demons don't hurt me anymore(sometimes in my personal life, I still allow them to fuck stuff up though). Anyway, I've accepted my shortcomings and strengths as a trader and that in of itself made the difference for me. The money, whether made or lost never really mattered to me, what hurt the most was not understanding myself well enough to stop myself.. My first year was a painful and very necessary lesson for me. If you want a challenge, then get ready; the market will break you down and it is up to you to rebuild yourself. Then rebuild yourself again, and again.... and again... I guess it kinda is about the money, but not really about the money. Whatever, its late, I'm tired. Mike