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Right. Some of very serious fortunes in Russia were made by investing in early 1999 and holding well into mid-2000's. Same principle applies everywhere. Those with higher risk tolerance even employ some averaging up in the process.

Absolutely correct. There were years when I made money trading. That made me think it would last forever, but something changed either in myself or the markets. That made me analyze everything and come to conclusion periods of profits could be due to certain market conditions rather than my...

Very true, just that's not too solid base to provide living to a family. So in a way Surf is right: better have money first and trade second as a way to MAYBE hit the home run or as additional venture, not the other way around. Institutions know that well and are mostly after commissions, not...

I personally have 10 years of experience with markets and honestly this experience led me to conclusion that whatever edges are not structural or very long-term fundamentals (like stocks going up on average because human civilization evolves, brings innovations and optimization), well, all other...

I personally witnessed even more interesting cases here in Russia: when people who's income was, let's say, not ideally from ethical source, claimed to trade to explain where's the money from.

There's a big difference between OUTRIGHT trading and a typical business (say, running a shop). Directional trader basically tries to bet on future events, right or wrong. Shop owner simply makes the market. Much closer to what brokers and banks do in financial business. Is that a coincidence...

I believe the purpose (and thus proper organization) of any business is grow by delegating tasks to employees instead of doing everything yourself (which is called "work"). That is why businessmen are so valuable to society: not only they produce something themselves, but involve other people...

Could just say "just know the future, that's all". :D In reality it's almost the same skill.

Great point you made. That's exactly what I'm trying to say to people maybe just thinking about trading. Possible? Yes. I know a few very good traders myself. But it is very, very very far from one of the easier ways to make money (reason why most try it). Actually it's probably one of the...

Some negativity probably comes from that I couldn't find a robust edge in today's markets (besides long-term investing), because percentage of scammers in this industry is incredibly higher than that in furniture (or almost any other, you name it) business and because if you are right and most...

I am glad for you if you are consistently profitable in trading. Seriously. I had my share of trading profits too, but most were: a) from mispriced binary options (they just started back then in 2005-6). b) from high volatility one-way market. And finally c, the most comfortable way so far...

Well, I was speaking not exactly of comparison with a corporate job, but with running a business, which is: once process is set up you mostly supervise and take care of strategic moments, the rest takes care of itself, so that you may not even visit office for as long as you wish at all.

Right, but that's because we sure know making a living selling furniture is possible with really many well documented cases throughout centuries and centuries of human history. Retail trading is a bit different in this sense. Almost any degree of success there equals to becoming rich almost...

How many people who retired early thanks to trading do you PERSONALLY know? The answer is very typical. ;)

Yes, that is my point: every effort should be worth it, leading to higher quality of life. Too often "success" comes very unbalanced and leads to lower quality of life as a result. Speaking of trading vs. levitation, for most wannabe traders, who's only proxy to financial industry is online...

That's some good attitude, but imagine your goal is... learn to levitate. Maybe possible, but how probable? It comes down to balance of values in our life in order to achieve the highest life quality.

Well for me one business just "took me" without me having much of a choice, lol. Dear family member decided to retire and couldn't handle the growing rhythm and pressure (problems in certain sectors of Russian economy started a couple years ago rather than just recently). So we decided I was...

As for me, I try to invest it in longer-term fundamental ideas mostly. Financial markets are of great interest, just I treated day trading in a wrong way plus didn't have enough time for that recently, hence the pause.

That's true and is one of my top concerns at the moment. I never had coding skills hence automation also was like voodoo for me. Probably the best way from freedom point of view would be some investment activity rather than short-term trading, because even with automation you never know if...

I took a break (can't say to give up as you never know :) ) from day trading and must say freedom is probably easier to achieve outside of it. Not sure about corporate world, but in case of running your own business you definitely have more freedom in time, vacations etc. compared to trading...