Quote from lpchad: Iâm here to proclaim I am throwing in the towel before I even traded one share, let alone opened an account with a broker. Over the past 3 years I have fantasized what it would be like to live the life of a trader. I have lived it in all of its glory without having to risk one dime. If you are sincere... Then in spite of all the diatribes from the papertraders and dreamers on ET, you are making the decision that 99% of the others should make, before they throw away 1000s of hours and 10s of thousands of $$$ realizing that 99% really do lose their money, break even, or sputter.
Exactly. We are all better served reporting each day to a cubicle and serving a corporation and the common good.
I respect a man who knows what he wants......... Seriously though, as a businessman and a trader, I can tell you that the risk inherent in trading is NOTHING compared to the risk of being in business and having employees........ Paychecks, collections, defaults, insurance, taxes, taxes, did I mention taxes, injuries, accidents, material cost increases, blown estimates.........at least with trading your losses are paid for immediately. Nope, in my opinion, the "risk" in trading is a walk in the park.
in an ironic way - I think this is a great thread. I particularly like the part about smoking outside the cbot. In 1986 - right after college my roommate took a job at lehman. His cousin was making 400 g plus bonus and alan was willing to start at the bottom checking trades for about 18k. About a year later he called me up. He was about to leave for the South Steet Seaport. He said he was doing well with ladies. I asked how he was doing anything on 18k a year. He said he had one armani (or boss I forget which) suit and he wears it ever friday so he can do well at happy hour after work. I laughed my ass off - long before I had ever lmao. I wonder if alan is still doing the same thing now, just with a big watch. Or if he worked his way up and just cashed out on the mortgage con game.
Plus ask any small business owner how enjoyable it is dealing with people generally speaking ( besides risk factor).
Chad - why not open an account and trade just 1 share since you have said you haven't ever done that. What do you have to lose with just one share? In all seriousness this could be an opportunity for you to overcome a fear one step (or share) at a time. Good luck.
Don't do it! A man with his towel is a man to be reckoned with: http://en.wikipedia.org/wiki/Towel_Day