Bleak existential riff there Ghost. Actually trading provides an opportunity for self-discovery and sublimation...it ain't easy but for many of us, it was well worth the losses and frustration. Personally, I feel more alive and plugged in now than prior.
Hi speedo - I'll double down on that and say that (honest) self discovery reveals pretty unpleasant things about ourselves and our fellow man. Nearly all of us are playing someone else's game with someone else's definition of success, pulling in what is perhaps the wrong direction ethically / philosophically, with very little awareness...and even if we become aware can we stomach what is required to make even minor changes? If we can't there is no use even thinking about improvement for our fellow man. And if we can start the process of change, we'll be beyond frustrated with our fellow man's complete lack of interest in giving up even a little comfort or making a little effort. Nearly all of us are completely powerless alone. Enter repression, denial, self serving rationalisations and if you're strong enough to resist this more misery awaits. But I wouldn't swap it for the fate of the unfeeling zombies who surround us. Without the challenge of trading I wouldn't have been pressured to grow, but now I'm not sure what the point of the growth was. I'm too small to make an impact, and I can't un-learn what I know. The best I can hope for is to live a better life, perhaps set an example, and try to influence in some small way those who may be in a position to actually do something which counts. Yes, I'm more alive and plugged in too....but now one of the few sane ones in the asylum.
I absolutely agree with you as to the unpleasant discoveries. Our failures are typically due to weaknesses and character faults rather than external forces. If we can recognize and accept them, we can do something about them. If not, the unfortunate response is often blaming external forces and nothing has been learned. I also agree that we need to recognize that we are all connected and responsible for one another as well as ourselves. This is not incompatible with trading for a living and can part of the growth.
in my trading endeavors, it's been eye-opening to see the humility and vulnerability one should strive for in trading. Those little fears or greeds can tell us a lot about ourselves. I hope that those who embark are open to change. I also hope that instead of fighting these weaknesses, they embrace them and make them a part of their approach to the markets. If I "feel fear" trading, it's an immediate red flag and requires that I "halt" and dig in to it. This requires a good Q AND R session---something I learned from KDASFTG---where I need to be VERY honest with myself and with the market's truth. Ive enjoyed the conversation here. It's enlightening as to how the market influences us.
Some old traders may be "chased away" by other forummers who doubt their sincerity in helping the newbies. There will always be people who get jealous. When a person tries to help but others insinuate they are trying to harm, the natural response is to move away. Why go through the anguish to help when one is not even getting paid? Having said that, I thank all the helpful genuine elite traders. God bless you and may money from heaven drop on you for your kindness.
Old traders are a bit like old warriors ! There are bold traders and old traders but not many old and bold traders.
Neidehoffer blew up several hedge funds and now tweets drival on a daily basis. There is no excuse for blowing up two funds filled with millions of other peoples money- and charging high fees along the way to these disasters.
Many of the old successful winning traders exploited market and regulatory inefficiencies that no longer exist, as was mentioned by a prior poster in this thread. The "easy" money is usually made by finding a glitch in a system.