To new traders

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

  1. If the focus really is money then take a careful look at what you, as an individual really need. Not what you want, but what you need. There is usually a difference because most people want money and truly need what has little or no monetary value. This is usually due a misdirected subconscious desire to be sucessful via a "social status" tool like money. Others can see a nice car and a big house but most cannot see personal happiness. T

    Money for most people involves ego and pride, two useless ideas IMO.

    Money will not make you happy, it will not provide a fullfilling relationship nor will it allow the so called independence many people seem to focus on (I'll even say that in my personal life money has created more problems than it has solved - and no, I am not someone who has had money all my life, in fact I cam from a very poor immigrant background). What money may do is provide security for your family but that sometimes comes at a heavy emotional price.

    Whatever value you place on the above ideas, they are simple psychological states of mind as fstrader has mentioned. They are based on a complete picture of personal success rather than a shallow picture that involves expensive cars and big homes (not that there's anything with material posessions, I enjoy nice things as much as anyone).

    I guess what I'm saying in a round about way is that the original poster hit on something very important: you have to let go of the love of money. Money is simply a tool that some people are better skilled at using. Trading to me is about the money to a certain extent, I want to be a skilled player. Trading is the most direct way to measure your skills against others. BUT, I will say that there are much easier ways to make money where you do not have to be better than 95% percent of the players. I love the competition and the challenge and I am by no means as successful as I know I could be. Many have said this in the past: the money is just a score.

    #21     Sep 6, 2005
  2. I'm not sure I agree with this - it sounds like a broad generalization.

    The presssure involved in paying bills and putting food on the table can be a detriment to clear thinking and solid judgement.
    #22     Sep 6, 2005
  3. $$$$ makes me happier so do the women .... no need to throw them away ....that leads to stress ... find some smoking stock guru for a girlfriend that would work
    #23     Sep 8, 2005
  4. axcel


    Everybody needs money for one reason or another ....

    But ....

    During the time I have been trading (6 months) I learnt more things about myself and human nature than I would working a lifetime on any other job
    #24     Sep 9, 2005
  5. Girls make me happy. It might sound a little extreme, but I wake up in the morning, to go to work, (and trade) to make money so I can have girls. I make money so I can feed my body so that I am able to meet and have girls. That's what I like and that's what I do. Money is just a vehicle that allows me to have more than my share. That's what I like and that's what I do.
    #25     Sep 12, 2005
  6. i'm suprised we have this kind of money don't bring happiness kind of species in the trading industry.

    Most people who say it don't have any

    Most people who have it, Look at the smile on my face that just can't get be removed.
    #26     Sep 15, 2005
  7. My guesses,

    A) You're secretely a homosexual and needed to replace the hot chicks with hot men, but just did not realize it at the time.

    B) You've always had it good in regards to money, have little idea of money troubles and basically have no idea of the value of money. Just like all the rich a$$holes whining about their lives, turning to drugs because they do not understand what they have.

    C) You're just stupid or crazy.

    Spend some time being poor, worrying about how and where you're gonna live the next month, starving most of the day because you have to ration money and you will quickly understand why people equate wealth with happiness. Problem is that people are so pampered in this country that even with increasing incomes they never fully understand why they are acquiring all these dollars.

    If you're seeking some kind of passion, trading may not be the right one. Trading performance is measured in dollars earned, everything else is nonsense. Skill, longevity, work ethic, it don't matter, it's all about the dollars earned. So if money is no longer "happiness" to you, you may want to pursue smth not so materialistic.
    #27     Sep 15, 2005
  8. Urkel



    You guys that same this isnt so are full of it. If you all never made that money u would be miserable. This is my second year of trading and i can say i am pretty miserable and depressed right because I am profitable yet poor yea u guys probably think ive made a few thou or something, no im up in the six figures this year and poor as hell(GETTING SCREWED BY MY PROP FIRM BEWARE). I would much rather be fucking rich and unhappy than feel like i do now.

    Is it wrong to equate wealth with happiness? Well, like a well know rapper said, "the more money you have the more problems you have." But I never heard someone who was rich say scew all this money Ill just give it up or be fine just getting by. Yet every poor person would do almost anything to become wealth, not rich, wealthy.
    #28     Sep 15, 2005
  9. Maybe this guy looking at his changed life the wrong way.

    Mucha money and many women to not-a-so much money and no chics looking to get a piece of it. Maybe it just feels better not to have to put on a show and not feel used by others.

    I personally trade for the money why? Because it's my score card.
    This is a game anyway except you are playing on a mental, critical thinking level with thousands of people not to mention computers. If I am losing on a consistent basis I would go broke. And it is easier for a person who has always been broke to handle then for someone that has been wealthy to handle.

    I am not saying it's all about money some times I get the same high from a big win as from when I figure out were I went wrong on a loss, but that leads to more gains later from not making the same mistakes.
    I don't think in money terms after I make a trade but in percent and in market action looking at profit and loss $ clouds my thinking.

    The first time you do some critical thinking and analysis and put in a 10 000 share trade and you feel your heart beating and you almost nail the tipping point and your profits are running that’s the trill I get from this knowing you have gained the wisdom to see through all the bullshit in this game, learning how to consistently beat the losers who throw away their money believing a computer is going to make them rich if they only find the right mix of indicators. (And being able to write run-on sentences.)

    The one truth he spoke of is that if you are only about the money then yeah your life will end up shit. (Previously I was all about money and have felt the lows). But the lows of being broke or low of funds sucks as well. (Been there too) I prefer to be somewhere in the middle where I don't give myself shit for missing an expected turn because there will always be more and enjoying life in the mean time (which unfortunately takes money)

    Anyways I have rambled on to much.

    Profits to all!!
    #29     Sep 17, 2005
  10. kacija



    You hit the nail right on the head :)
    I couldnt of said it better myself.
    #30     Sep 17, 2005