Traders make lots of money, thats no secret. Even someone making 500.00 a day (130k a year) is comfortable, however I don't ever see any mention of fine luxury items here on ET. I'm not saying I wish people would brag more, but in the three years I've been an ET member, I dont see any threads from people posting such things as: "Hey whats a better watch?...a Naloni Canova, or Rolex?"...... "I want to buy a condo in Atlanta or NY, in the 5 million dollar range, where can I get the best value for my money?...... " Who here drives a Ferrari or Aston Martin? I want to get one of these for my wife, but cant decide which one she'd like more" and so on... Are traders by nature just really private people? or perhaps people on ET (myself included) dont make sh-t, and therefore have no need in asking such questions? hmm. Well I was just wondering about it. I read trader monthly a lot, and the trader PnL journal here, but wonder....some seem to make good coin, but it never really comes to light socially here on ET. It's not any of my business, I agree, but rather something I noticed. I'd buy myself a much needed new car, but I didnt quite make 35k this year...had i reached a 1,400% this year, I'd ask ET "Whats a better buy...a Honda v6 accord, or Nissan maxima?"
this is true I've seen in other industries, where constant flashing of $ and women is almost a promotional campaign for them. "lures in people to do business with them, send them business, to gain that type of lifestyle"
We do business for ourselves and trading is a very humbling experience for most of us and jerks like ST are just watching in the sidelines.
I threw my watch away 8 years ago. I have no desire to be a slave to time. That was the whole point in becoming a trader in the first place. I have an alarm clock that gets me up in time to trade (west coast) and there's a clock on the lower right hand side of the computer. That's enough for me.
Nearly everyone I know who is happy today lives far below their means if they make $45,000,$450,000 or $4,500,000/year. I also know people who make the same who are all cash poor and pushing on a sting all the time, and some of the most miserable people I know. But they all have a nice watch and read the chase the same demons.
here is a thought. some people are able to make lots of dough. some people love to spend big. quite often they are different people. in other words, you either an earner or a spender. it is hard to be both. personally, when i think about money. i am thinking how to make more $$. i am not thinking what i would buy if i had this much money. this is simply my personality. but i am pretty confident that i can earn more with time because of my mindset/view toward $$.
you dont make any money bc you waste too much time posting on ET. Focus on the process rather than the end result and what you are looking for in regards to your aforementioned post is 'Trader Monthly'
What's the financial securty in luxury items. Most times their resale sucks. The point of having them is to show off. I would rather have a fat bank than a nice what ever. Antiques are a different story at least they hold their value.
Good point, I have never even seen a discussion on scotch or cigars. Not even a discussion on the best firm to go with for fractional jet ownership!