I think I just have to echo what's been said. A real trader craves only volatility and/or strong trends. Personally, in my office we're praying to the money gods every day for a major crash. You might get clocked in the short run on a market reversal, but once you understand which way the winds are blowing it's no problem. Also, there are a lot of trading strategies that don't rely on overall market trends. From reading your posts it sounds like you're not a "trader" as most traders would define it. People like you will have trouble adjusting to new market conditions. It's surely true that when a bull markets ends a lot of investors that thought they were traders get shaken out. If you're trying to say that mom & pop's stock picking club is toast when the next bear market comes along I'd agree with you. If you're saying that successful career traders won't be able to cope, I strongly disagree. Most traders fail. Some do very well. Trading is a viable way to make money, but it's damn hard. If it was easy, everybody would be doing it. Saying it's not a viable career choice because it's difficult is like saying becoming a doctor isn't a viable career choice because med school is hard to get into.
Someone on this thread referred to trading as a dead-end job. That sounds pretty depressing. But it would not be a dead-end job if one aspired to open an office and assemble a group of traders, right? Has anyone seen a successful remote trader start a successful prop office?
Thug Life, I hope this answers your question: http://www.amazon.com/Way-Turtle-Me...3231033?ie=UTF8&s=books&qid=1183163506&sr=1-1 Great Book ! Good read ! Great sites ! : http://www.tradingblox.com/originalturtles/index.htm http://www.wayoftheturtle.com http://www.tradingblox.com http://www.modustrading.com/turtle I hope this helps. Tom
I have heard mixed reviews about the performance of the turtles (and the market wizards) after the books were published.
I think many people aspire to be successful traders. For those that are successful, not only is trading NOT a dead end job, but it is a job with unlimited potential. Opening an office is more likely to be a career choice of a failed trader (not that there is anything wrong with that, IMO).
Trading was more fun from an office than it is turning out to be from home. But I would never open an office and have other traders 'under' me if I were not very profitable myself. Trading with a computerized system, how much work do you put in each day? If you have to monitor the market all day, do you get bored sitting in your house or wherever all day?
I guess 'work' means something different for different people. For me, I sit in front of my computer during market hours each day, and monitor trading. I will also spend another hour or two each day and on weekends on trading related activities (including browsing internet sites like ET/SI, etc). It might otherwise become boring, but I am in a small private chatroom each day with a number of trading friends, and that keeps the day more interesting. The truth is that I love trading, and enjoy my job more than any other job I've held. And I make substantially more money trading, as well (a great combination). Most weekends, I look forward to Monday... how many people can say that?
RE:"I look forward to Monday... how many people can say that?" I feel the same way. Sure beats the corporate rat race.............
I am late to this thread... Sounds cute, I didnt read everything so I am certain what I'll say has already been said.... We could write a thread on why being in the Music Business isnt a career choice, Why working a Job isnt a career Choice.. They all have the same amount of risk... Personally I love trading and the fact that I can take care of my family all from my Study chair..... Sure beats getting up and driving to a Job....