Advice you wish you had gotten in your early 20s

Same advice. The fact that you are doing well on your own is great. There is no substitute for being around people that are rolling in the cash. It is very difficult to [continue] to do this sitting at home. Once you understand how edges are formed, you may go on your own, but even then it is important to be exposed to other traders imo.

Forums like ET don't even come close to giving you the exposure you need.

nitro
Quote from Willleung:

Nitro, that's good advice, what about an update version for traders in the late 20s, who started on their own, and doing alright? (As I think it would be hard to get back into an office and work for someone else)
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Quote from nitro:

Same advice. The fact that you are doing well on your own is great. There is no substitute for being around people that are rolling in the cash. It is very difficult to [continue] to do this sitting at home.

Forums like ET don't even come close to giving you the exposure you need.

nitro
More...

Thanks Nitro,

An older friend just told me this afternoon to get into a firm or institution, do everything I can to get OPM.

Honestly I don't know where to start. Trying to build a track record, but who to show it to?

Felt frustrated sometimes, but at least, if I am good, I should have a desent life and plenty provided for my family.
 
Quote from gbos:

Last time I tried to suggest to a teenager that his point of view may not be the correct one the reply had the F word uniformly distributed in it.
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GBOS,

You can write~! :p
 
Well, as someone who ruined his life and is trying to rebuild, I offer the following:

1. Surround yourself with people who support you unconditionally in your life. Get rid of toxic relationships, even family if necessary. You need the courage to walk away from those who hurt you, or at least disconnect from them.

2. Solve your problems as expediently as possible. If you pride yourself on your independence and individualism as many traders do, then don't think that you can solve any given problem on your own. Life has potentially big obstacles for you. Reach out for help. People will support you, and sometimes a professional is necessary. But don't waste time on anger and useless emotion, as it will eventually destroy you and lead you to make bad decisions.

3. Read A Guide to Rational Living by Albert Ellis. Every decision you make is a choice, from what you eat for breakfast to deciding whether or not you are going to end your life. Use NLP techniques to learn how to disarm bad feelings and examine a situation objectively.

4. When you have 400K in cash, and the real estate market is similar to 1991, buy every desirable property you can at auction.

5. Don't run a hedge fund.

Regards,

PTR
 
Read autobiographies of those who survived the Nazi concentration camps. After reading several of those, the problems I run into seem laughable.
 
Quote from PoundTheRock:

Well, as someone who ruined his life and is trying to rebuild, I offer the following:

1. Surround yourself with people who support you unconditionally in your life. Get rid of toxic relationships, even family if necessary. You need the courage to walk away from those who hurt you, or at least disconnect from them.

2. Solve your problems as expediently as possible. If you pride yourself on your independence and individualism as many traders do, then don't think that you can solve any given problem on your own. Life has potentially big obstacles for you. Reach out for help. People will support you, and sometimes a professional is necessary. But don't waste time on anger and useless emotion, as it will eventually destroy you and lead you to make bad decisions.

3. Read A Guide to Rational Living by Albert Ellis. Every decision you make is a choice, from what you eat for breakfast to deciding whether or not you are going to end your life. Use NLP techniques to learn how to disarm bad feelings and examine a situation objectively.

4. When you have 400K in cash, and the real estate market is similar to 1991, buy every desirable property you can at auction.

5. Don't run a hedge fund.

Regards,

PTR
More...


Best post so far and gets my vote for point 1. and 2.
One really has to walk through the shit to be able taking or even recognizing advices. Ambition starts with awareness and that guides to creativity and reaction.

P.
 
The single best advice I can give is invest, protect and cherish your health. Without it - not one single purchase or sell of stock, bond, real estate, annuity will matter. Without good health mentally and physically you can't function at 100% capacity.

Ask any Cancer, MS, TB, Flu, HIV, Parapilegic, Stroke, Car Accident, Common cold, Allergic exposed person.

"PROTECT YOUR HEALTH". :(
 
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