The general public doesn't understand that money can be made in a falling market,through shorting.I hate when people continually ask how you made money today when the dow was down 200 points.I have many times explained how shorting works to family and friends,yet they still don't understand it.Maybe i'm just surrounded by morons.
understanding Finance and Economics, as it is practiced through trading is not the skill of most persons, even from some of the participants in these forums. I've used Real Estate (buying and selling houses) as an example, but, its just not worth trying to explain the explanation, just so someone can get the point. So, I guess, from one trader to another, we'll just keep explaining it to each other
I went to a boarding school in Columbia county 1973-79. I loved the area and always wanted a getaway place there. Wow, I can't believe the prices up there!
In my experience good trading is effortless. Yes, there is some prep time required, but I think if you approach it with the idea that you need to wok hard all the time, that is a mistake. It leads to overtrading and burnout and also to issues of whether or not you really deserve to be a winner. After all, you're not really doing anything. Perhaps the best traders have extremely narcissistic personalities, they are not troubled by any inner doubts about the real worth of their task or whether or not they are deserving.
I agree AAA. I think of trading as a glorified form of thievery. However, I am not losing any sleep at night...
dgabriel- yeah the prices vary on how close the home is to the metro north line......if you down to Dutchess county..the houses are twice the price. but in columbia or green county..you can get a 5 bedroom home with 5-10acres for 300-400 k that hme i posted is over a million becuse of the 90acres and the barn etc.
"To find out what one is fitted to do, and to secure an opportunity to do it, is the key to happiness." -John Dewey *************** "Work is a necessary evil to be avoided." -Mark Twain **************** These two quotes describe my attitude about trading and work well. I've always questioned the idea of the nobility of work . That no work is beneath us or too undignified. (My friends just think I'm lazy). This is why I love trading. Yes a lot of time and effort went into development of my system and I continue to tweak it and explore new ones. But as a previous poster said, it is not work if you love what your doing, and I do, as I'm sure we all do. The intellectual stimulus, the money, the freedom. The only other job I can see that is perhaps as good is being a successfully artist or musician. As far as what to tell friends,it is something I'm wrestling with. I don't want to make them jealous but part of me wants to brag. I want affirmation for my underachieving life and show everyone how great I really am. And modest too I like the idea of buying the million dollar home. It would be a statement without having to say anything. Good Trading All!
here's a real winner...1 million and in Vegas...http://us.f1.yahoofs.com/class/001568277328/dd516faeeb8c6c199f03d3386236345f.jpg?cf_L5gyCGWDkmBxm
a good response might be: "no, this is not work. work is when you spend your life obeying orders and kissing ass so some other guy can get rich off of your time and effort. this is trading." (a bit harsh maybe, but appropriate considering the offensiveness of the original question...)