Great post! You seem like the Charles Bukowski of the trading world! To answer the OP's question, my second job is that of bellman, as my handle suggests. I'm still working on finding a true edge, but in the meantime I like the security of having steady income. I've taken lolatency's advice and cut my expenses down to almost nothing. I don't pay rent, car is paid for, don't eat out much or go to the bars much anymore. I've cut my work nights down from 5 to 4. Still, part of me thinks I should quit and focus exclusively on trading. I've got so many ideas on the back burner right now, but I'm scared to quit the stable income and routine of working a job regularly. I have over 2 years of living expenses saved up and trading capital. Now is the time, but I don't seem to have the guts to make the jump to trading/strategy development full time.
plus ... are you single/married? debts? school loans? im 28 , debt free and run what has FINALYYYY become a financially successful business. I have a paid off semi high end automobile... and dont live on the upper east side.. plus i dont want to get the IRS involved but how shall we say "creative tax reporting" ? only thing i was trying to say that we all have different comfort levels. I feel like a live a comfortable life at the moment. Until i get killed (married) and have children. At this point though i dont want to be comfortable. I want to get to that next level .... bro where am i even going with this post .. too much drunk typing lol gnite all
single, no kids, some debt yes, (bad debt to the wrong man) I rely on trading the open, some pairs trading, and some MOC's. I havent lost any of my capital just I came into trading with a big monkey on my back and havent made any "real" gains. so that is why the second job is needed I did join a good prop firm with alot of support though.
I'm back from L.A. & it isnt even 9 am here... I might take a quick nap later though. Normally, I can work in the afternoons after trading, but biz is picking up a bit, so i will mostly be working next week. one of the things it took me a while to really get was that the market will be there next week.
I too find it unbelievable, and I suspect that you are correct - those who delight most in the struggles and failures of others are those who themselves have succeeded least.
Yeah. Those comments were made by a guy who is constantly complaining about his $10k Interactive Broker's account, but he trolls the board and acts like he is the God of Trading. He gets banned for doing shit like that, but he just keeps coming back. ... LOL E T
I've traded since '97 full time the majority of years and didn't know squat most of them and maybe I still don't. But I view life as a strategy and I've always worked and my goal has never been a desk job. I bought 90 acres in '95 ordered a bunk of lumber and built 2 horse barns. I broke and fitted show horses, sold some winners and I own my place, a nice home and have a family. Now I get up around 430 am and work wine distribution. I'll drive 300 miles before most people get up and I like it as I get paid good for one but I also get to toss a 300 or so 40 lb cases of wine every morning so I stay fit. The point If you know where you're headed and you know what you want out of life, take the direct route and forget status and pretense. The goal of getting rich is about as hollow as being a great trader. You have to build your life. By that I mean surround yourself with things you love along the way and don't think you'll be able to buy enough things to create a life once you're successful because you won't. Work should never be seen as a sign of failure, on the contrary it's the hallmark of success.
"Work should never be seen as a sign of failure, on the contrary it's the hallmark of success." Well put Yepso. Only when you find something you like that you realize how much fun work can be -- I ve worked some shitty jobs where I d just be waiting for day to be over and now I work pretty much my own hours--do a great job when I am on the job and my co-workers love it too. Its a great place to work too.