To new traders

Discussion in 'Psychology' started by xtrhvydty, Aug 31, 2005.

  1. What I got from his post, was that you need to respect money not love it...
    #11     Sep 1, 2005
  2. Question: in this quest for fulfillment, could you not simply change your attitude/perspective towards money, business, and women and *not* pursue trading?

    Or is trading a necessary part of the endeavour?

    #12     Sep 1, 2005
  3. can your borrow me $10000 so that i can start day trading at a prop firm and i can show or teach you profitable day trading:D
    #13     Sep 1, 2005
  4. syrre



    one of the best post i have read on ET so far.
    what you describe stand so perfectly clear to me.

    going from making much money as a broker for many years, throwing wild parties with lots of chicks all the time, to now; trading from home, making less money, now i am much more happy, this is what i really want to do, the challenges fullfill me.

    #14     Sep 2, 2005
  5. hagadol


    I would rather be unhappy and rich than unhappy and poor.
    #15     Sep 2, 2005
  6. Thankyou xtrhvydty for a good post!

    To really appreciate it, I think you must have had a similar experience. Going from a well paid job that friends and society saw as very successful, but where you yourself saw that something was missing. Then finding trading and after, in my case three years of struggeling, finding out that it brought a life style as well as cultivates/necessitates a very positive personal development, where money is second but will be a result of doing what you enjoy - i.e. to evolve and aquire the skills as a trader.

    That's my story as well. I'm happy that I made the choice to become a trader, even if it means I no longer have any direct use of my previous education ( It has forced me lead a better and more balanced life. The money is enough and I'm still evolving, so possibly also a richer life...

    So far only Michael B and syrre seem to have understood what you meant, maybe because we all share your experience and have been there? Anyways, thanks for the post and happy trading!
    #16     Sep 6, 2005
  7. There is an excellent short article in SFO magazine this month for new traders called Trading Survival 101.
    #17     Sep 6, 2005
  8. fstrader


    Hold On! Not everybody is this one-dimensional. There are plenty of successful traders whose primary focus is not the money. And come to think about it, I couldn't disagree more with your entire premise. Just look around, the act of "wanting" is such a pathetic emotion. Wanting is what wanting will get you. In reality, it DOES boil down to psychology. Success is a state of mind before it can ever become a reality.
    #18     Sep 6, 2005
  9. We haven't heard from the OP again. I would still like to read a reply to my question.
    #19     Sep 6, 2005
  10. Dustin


    There comes a level of trading for a lucky few when money stops being the primary focus and becomes a way to keep score. These are $1M+ traders which most of us will never be. Imo someone who needs trading income to pay the bills has a much better chance of success than someone who is independently wealthy and just wants to try trading as a hobby or sport.
    #20     Sep 6, 2005