I had dinner with a friend of a friend recently, and I spoke to him and his son about what it takes to become a self-employed full-time home-office trader. His son missed the boat on Vet school, and has recently decided to use daddy's money to become a trader. Kid seemed bright, but a bit too naive and warped by mass media, i.e. he said not only Cramer's name a dozen times, but actually referred to Cramerica at one point... His ultimate goal is to start a hedge fund, but for now he's looking for an annual 50% to 75% or more return on Daddy's retirement savings, which is actually a fairly big number (upper 6's, but lower 6's for the first 12mo). When I told them both, after the kid's spiel, that I would give them the best advice anyone could ever give them, they were both fairly heated. "Don't walk away, Run!" I believe were my exact words, I kind of felt like an asshole. I remember when I first got into this career and how everyone was giving me the expert advice of "Don't walk away, Run!" whether they were actually an expert or not, and I remember the "I'll show them" mentality I had at the time. I almost felt bad, but then I recalled how everyone else actually was right, and how hard it was to admit defeat, as well as how long it took me to really start to figure things out. I took the hard path, and thus far I've surpassed even the most surreal expectations of even myself. I thought about that shit long and hard, how much shit I had to crawl through before I came out the other side still smelling like dung... I did at one point almost feel bad, but all I had to do was remind myself of the realities of trading and the failure rate for ventures like theirs, and that was all I needed to relieve my conscience. Not really looking for 20 pages of pie throwing here, just wanted to share my experience. What's your take? Right? Wrong? Both? Keep in mind, neither was really willing to hear my reasoning behind the advice, they just went defensive on me.