"I'd rather be lucky than good" is really just a saying that came from modest successful people who actually were good. Anything good in life comes from hard work. Sure it's possible to win the lottery, but the odds are not in your favor, and you have no way of controlling those odds other than buying a hell of a lot of tickets. You do have the ability to improve your odds in any entrepreneurial venture including trading.
You make some great points but you know what? Intelligence extracts opportunities from the world. Fear will kill intelligence faster than any emotion known to mankind. If you can control the element of fear, eliminate all distractions, and see the world for what it truly is, you will see that there are opportunities everywhere. I used to live in fear. I was told that I was so smart and that I should do this and I should do that. (Well, the fact is is that I'm not really that smart, I just talked real fast and that made me seem smart.) There's no way I could have been a doctor--I don't do well with authority, I'm a risk-taker, and from what little I know about life I do know that most people can't handle the truth. After dropping out of school knowing I could never be a doctor I felt like a complete failure. My parents always reminded me of how much I had let them down. They just suggested that I go work at a grocery store and with my charisma I could be a store manager in 5 years. With that I faced a fear of being average. Being average isn't good enough. You know the other night I was talking to Atticus about going out and having a few drinks meeting some ladies and he was like "Well, have fun, I'll be at home doing chest and tris." Man, I can't tell you how much that impacted me. Here I am, practically broke as hell, carrying over 15% bf now, and nowhere near his intelligence level and I'm going out pissing money away while here's this guy over 40, has more money than my entire family ever had times a 100 and he's at home training chest and tris at 10:30pm. I can't let him outwork me. @#$# that!! I can't let the American Dream cast a spell of mediocrity on me! Also, I heard another gentlemen say something that hit me.. "Mediocrity lies in the eye of the beerholder" I can't stop thinking about that. All of my mistakes, all of my set backs are all attributed to drinking. Yeah, I'm only of average intelligence but damn look at all the opportunities out there that I'm missing out on because I want to go out drinking and sleep in until noon on the weekends. Not anymore.. 95% of the people you meet in life want to be led. If you have what it takes to be a leader: be likeable, delegate responsibilities, and be a great communicator (listener), there are millions opportunities for you out there. or You can be a trader. Being a trader removes earnings ceiling. No one but me is telling me how much I'm worth. Believe it or not, I don't trade to someday buy a Ferrari--I trade to earn enough money to set up trusts for my family. I want there to be a big picture of my wife and I above my family's fireplace and everytime they walk into the house they say "THEY'RE the reason we live this way, THEY're the reason we're in this nice house, THEY changed our family tree forever. THEY made it happen." IOW I want to make opportunity easier for my family in the future. "What makes money in real life?" It all starts with a burning desire. What is your desire? More importantly.. what are you willing to do to turn your burning desire into a reality? How many times are you willing to be wrong? How many mistakes are you willing to make?
No such thing as 100% risk free trading. Sounds like you just want an easy life ... little effort and a lot of $$$ flowing in. Some people prefer more intellectual stimulation --- prefer challenges. Searching for the next risk free cash cow "opportunity" is like looking for a needle in a haystack. Maybe you'll find it --- but I guarantee you'll not continue to find such "opportunities" year in and year out as you go through life.
I want to live a very easy life while making lots of money. Exactly. I would encourage you to do the same thing, It goes in exact opposite of the "public" mantra. "Work hard, Make money" Its a spit in the public's mindset, its pretty simple when you look around ....the Public never makes money. Bunch of hard workers. One day right? One day...
Unfortunately, unless you inherit the money or win the lotto, the words easy life and lots of money don't go hand in hand. Once you work hard and make some good money the easier life with lots of money is within reach.
I've been in the game of $$$ for over 12 years , Since 1995. Theres a lot of extrapolation with how I presented the first topic. So I can see the confusion, where people think I think hard work is not required in making lots of money. It is, But its definately not what you think. I feel the need to explain this idea so its not extrapoloated where it becomes a faulty advice. ----------- Hard work : Its only hard when you ain't making good money. If you are making GOOD money, it won't seem "hard" to you. ------------ Let me present it with examples of how money was made from experience. Since I was a lazy person, this actually helped me make money. I wanted money fast. I wanted results fast. As in I would try a new opportunity, test it for 1 week, move on if it didn't profit immediately the week after. A few things I would hit on instantly, and start backing the dumptruck for very little work required. These opportunities would dry up so I would search on for new things, constantly. The process was, test 1 week -> didn't make money? -> Test something else. During this period I also watched many other entrepeneurs come up with me. While some worked with something and made money from one project. Many, kept on working one thing, trying and trying, trying and trying.... It made them $10 a week, but they still tried... telling themselves the times will come after I put in this hard work.. Wrong. No opportunity there. --------------- Many people miss out the forest for the trees. Because they are so wrong in the process of exploiting opportunities. Its not you, You are a hard worker, We know. Its the opportunity. It was never there to begin with.
I totally understand what you are saying but you make it sound like the opportunity is the key to everything. I disagree. You have to be ready to recognize and exploit the opportunity. The only way you will know a true opportunity from one that is not so good is preparation. I've wanted to start my own business since I was 21 years old. I wasn't ready to do so until I was 44 years old. The opportunity was there for 23 years, but I was not ready. What good is opportunity if your current abilities are not ready for the opportunity? Some traders see opportunities that I don't even see. They may see better opportunities than I am currently capable of finding. Work is required on my part to insure I can see better opportunities than they see. Opportunity is secondary to preparation for success. It has always been that way, and I don't see how it could possibly change.
Maybe true for some. But not for all. Some people create opportunity through hard work. What about the 10th round draft choice in the NFL, NBA, major league baseball who isn't seen as a big time talent? Maybe he flounders around in the minors for a few years busting his butt, making virtually no money but moving towards his dream. Eventually, through hard work, he moves up to the big time making big $$$$. It happens. Perfect example in golf. Woody Austin. Wanted to play the PGA tour. Wasn't good enough. Worked as a bank teller making $8/hour, practicing during his lunch hour. Struggled for a number of years. Now? He's averaged about $1.5 million/year the past 6 years. He could have thrown in the towel during the lean years --- when he was struggling. But apparently he believed in himself and persevered. He "saw" opportunity where maybe others wouldn't have seen it. He succeeded through hard work. He may be the exception rather than the rule but I do believe one who "sees" opportunity can achieve success.
Espically in sports... Most superstars were already superstars when they were young, like 13 years old. Check the history of all superstars, mike tyson , ken griffey , jordan, kobe and our obvious KING JAMES! Every single one was already at a "pro level" when they were in their teens. This only made them better and better. Thats why they kept doing it, cause they were really good at it. They succeeded almost instantly in the opportunity. ------- Find someone who ventures into pro basketball in their 20s, and try to make it to NBA. There will be around 0. Either you make it early, Or you'll never make it at all.