Trading for Income or Wealth?

Discussion in 'Psychology' started by dnaj65000, Nov 30, 2003.

  1. Which is better? Viewing trading as a great job that gives you a lot of income year after year, or viewing trading as a method of wealth creation and not spending what you earn until retirement?
  2. What are you planning to live off of.
  3. Ebo


    If you are any good.
  4. the best state of mind is just wealth...then your mindset don't get affected by your material life. so you live your life like a trading Monk..

    but if you die b4 you get to enjoy the money that you earn, then it's all pointless..isn't it? so you live like there is no tomorrow, cash your profit when they appear and have a good time..

    realistically, you got to find a balance in between these two extreme, say 20% income and 80% wealth..

    I am sticking to a 5%:95% balance, but it helps your trading and size of your trading capital..


    Trading doesn't necessarily give you "a lot of income year after year". It's a lot of hard work and there are no guarantees. Most, if not all traders have "off" years. Having said that I'll take trading over any corporate job etc. since it gives me something beyond money ... freedom. I know a lot of people with "golden handcuffs" who are stuck in their corporate jobs. And you have to spend some of the $$$ (trading income) along the way. No reason to keep (it all) for "retirement" since you can't be assured you'll reach that point. Have to enjoy life each and every day.
  6. Short-term intraday trading for income, long-term position trading for wealth.
  7. trading for income, real estate for wealth.

    any good real estate sites out there?
  8. hjcolvin


    Personally, I am treating trading as the vehicle to wealth. If you look at what you can earn by trading, without having to find customers, you can finance any other venture you want.
  9. Cheese


    You need to trade only to put together your fortune .. as quickly as possible. Don't spend any of your gains .. thats your escalator to where you should be going.

    After that, when you've made your money, your income stream comes from your fortune .. kind of obvious, huh?
    #10     Dec 1, 2003