I don't think that that was what he was asking at all... he didn't say it was a big deal, but that he just wanted to talk about it with other people that could understand the highs and lows of trading. IMO, the fact that you are getting offended by this thread and his original post means that you are likely one of those people that are not successful and that you resent his success. Kinda like the non-traders that posters in this thread mentioned would become haters when they heard of other people doing well in trading. g p.s. Don't hate the playa, hate the game
Most of my friends are successful people in their own right. Doctors, lawyers, business people, inventors, and more. We are interested in a lot of different areas so we enjoy sharing our successes as they rarely overlap others in our group. No egos involvement, just the joy of sharing triumphs and failures among friends.
+1. I just like sharing triumphs. And FWIW, based on Gambler's post, I'm not where he is yet. I made it clear that I needed a lot of doubling time for my capital to amount to anything serious. Lots of people think that you can double your money in a few days or a week or whatever. If you can, you aren't doing it systematically...you're gambling (IMHO). So to be clear, I am not what many of you would consider wealthy...but what I'm doing is working really well and consistently. I can't help but look ahead and I've decided I don't want to have an experience like Gambler's. He's a cautionary tale, (and I appreciate his feedback, BTW). Regarding where I live? You're right...I live in a place where big money is unusual. And interestingly, I have no interest in leaving. It's like Mayberry (from the Andy Griffith Show)...there is a quality of life here that I don't want to leave. SM
Better is to share philanthropy, make challenges to causes you belive in. No one will hate you for publicly giving away your wealth and you may inspire them to do the same, no matter how much. Last week I gave $500 to the Haitian Health Foundation in honor of a facebook friend who recently did some work there as a physician and challenged other facebook friends to do the same and match it as well. So far we have another $5,000 raised and the bill is rising on my end, that is why we do this in my book. Hope you find a way to do good and inspire others instead of worrying about useless stuff.
People change after you make money. But what's the alternative? Lie? Sock away every penny until you die? If you can't enjoy it, what's the point of making it big in the first place? And people might kiss your ass more, but with great achievement comes respect. And haters. But that's part of life, regardless of any profession. True friends don't change much unless you act like some untouchable genius, which most layman assume successful traders are since their portfolio gets chewed year-in, year-out. In reality, profitable trading is often easy and simple. Anyone can learn. However, separating the wheat from the chaff takes years of toil and heartache. Most traders don't tell anyone how simple trading really is because they want the adulation of the crowd for ego and pride. About friends and family, why not judge a tree by its fruit? The people I trust with financial details are the ones who stood by me even when I struggled and was dead broke. And there's a few. What kind of friend would they be if they didn't? And nobody says you have show them your tax returns. If they know you're a multi-millionaire, that's enough. With acquaintances and potential mates, I am very cautious. Advertising your bank roll to strangers is done purely for ego and dangerous, imo. Sure, you can bed an easy girl. But here, you are right: you'll never know if she wanted you just for money. Chances are, yea. Ladies are all about financial security. Who doesn't want a free-ride in life? When I date, I tell ladies I work a regular management job and pull an average salary (45K). If they like me for me, they'll stick around. If not, I saved myself a terrible marriage and nasty divorce. Last, I don't trade family money. And I don't share methods with anyone. People ask, sure. But I tell them nobody gets a free-ride off my coat-tails. Gambler is right about this. People think trading is some ridiculously easy way to cash in and for some reason, feel entitled to share in that windfall. I tell acquaintances that it's a long road to profitability. If they want more info, I give them a reading list. I tell them to follow up with me in a year, and if I feel satisfied they understood the information I gave them, I'll give them another reading list. Then do the same until year 5. If after year 5 they haven't found something that works, I'll point them in the right direction. Again, let them prove themselves. Nobody has returned my email after year#1. Everyone wants a free ride. And phuck them. It took me 6 years. Granted, there's a few close people I help out. Last, in the event of my untimely death, I will either pass my strategies on to family, or teach them directly in the next couple years. It would be an absolute shame to let his information die with me. The hard part about that is sharing your glory. Now they've seen it's just a man behind the curtain pulling the levers and can build their own fortune that rivals yours, all the facades a trader has built for himself, melt away. So what to do? Posterity? Or fleeting glory? Honestly, in your case, I would work on consistency. 100% a year is decent. 1% a year is not. And to be honest, it's a red flag. If you want to go after the big fish, day-trade. Or figure it out. Also, I understand not all my advice is applicable given you live in a small town where big money sticks out like a sore thumb. At the end of the day, it's a personal decision. Why are you trading to begin with? Financial security? Or a great lifestyle? For me, it's the later.
+1 NGO's are a good charitable solution to help the third-world. Usually, they provide no financial aid. Rather, they send human capital into the field - doctors, teachers, engineers - who receive a salary payable outside the country they work in. This way, corrupt dictators can't siphon off financial aid and their people benefit the most. But I agree, charity starts at home.
Hahah so freakin true! First thing i say is don't listen to cnbc. Ok easy enough, done. Then i start emailing a few insightful articles here and there about how to correctly approach the markets. I get some quick responses and questions at first, but then dies down within a month or so. And i haven't even started with the boook lists yet!... which took me 10+yrs to read, comprehend, and reflect on.... and still going at it. I swear it's like people hate to read or do a little research that forces them to think. So then after several months/years of silence, out of the blue i start getting asked things like, "hey man loook at silver soaring!... how do i get in?... how much higher will it go?... man i shoulda bought some under 20... i couldve doubled my salary this month....etc, etc." At that point i'm already fuming and just literally wanna hang up.
Interesting topic. Yeah, everybody wants some magic formula rather than to study/practice the market for years. I just tell them it is like any other job - people are suited for whatever work they are talented at, enjoy, and are therefore willing to put in time to learn. As for the isolation, I know what the OP means, but that's life I guess if you are not one of the crowd. I just learn to relate to friends based on whatever unusual interest(s) we do share. I've never had a friend who related on everything. If people have hang-ups about money, well that's their issue and you try to deal with it like any other hang-up a friend may have. Other than online aquaintences, I still don't have any friends who are successful traders - not a problem unless trading is your life, in which case you may have a problem after all.