'' The Luck Factor ''

Discussion in 'Trading' started by TKOtrader, Apr 8, 2003.

  1. Interesting...
  2. nkhoi

    nkhoi Moderator

  3. welcome !
  4. That article was utterly disturbing, makes you want to give up trying, because well, what's the point???

    I suppose the main message of that article was if you have to do something, do it in a public place, and if you're in a public place, think of every excuse possible to talk to people.

    I suppose next time I'm reading a book or writing a paper I should do it in a local Starbucks or the library, that way a modling scout might recruit me to be the next Fabio...:D
  5. Has anyone read the Millionaire Next Door or the Millionaire Mind? I'm too lazy to look back, but I recall most millionaires saying that luck didn't have much to do with their success.
  6. agrau


    Well, you may want to give luck a chance by not staying at home 24/7, buying a lottery ticket, chasing chicks ... trying is, to allow luck to happen :D

    It's also about being open to whatever happens, because you never know the result if you never pick an option. I guess the secret lies in being open to whatever situation arises - may it be due to trying or due to luck (i.e. not trying, but allowing).

    This somehow reminds me of Yin and Yang. The Yang part creates and controls (trying = active), the Yin part lets things happen (experiencing = passive).

    In trading, you may wish to stack chances in your favorite, which is the active part. But at the same time, you must be willing to take what is offered, the passive part.

    You are not a victim. All people in the article recognized the opportunity as it was open. All decided to act upon it. None of them reacted sheepish. Seeing an opportunity and acting decisively is much different to what you feel, like " ... makes you want to give up trying ... "

    Simply change your viewpoint.

  7. nkhoi

    nkhoi Moderator

    well said.
  8. The millionaire nextdoor only works if there is a once in a century, 20 year long bull market and only then if you save like 25% of your income no matter what. That presumes you have a professional type job where you can set aside 15-25%.<P>Of course to hear Suzi Orman tell it, even such a millionaire STILL does not have enough saved for retirement.
    #10     Apr 8, 2003