Becoming Gordon Gekko

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Quote from Gordon Gekko:

First of all, don't read too much into this thread title. To me, Gordon Gekko just symbolizes a successful man of the markets.

I've been thinking lately about how I am going to come back from my devastation and I have a plan. I looked up how much my 100% paid for car sells for used and some go for $18-20k with 3x the mileage mine has. Mine also has basically every option there is and it is in excellent condition. Let's just say I get $16,000 for it. I do not WANT to sell this car at all, but I'm realizing that it is a way out for me. To someone who is not me, if I tell them I'm a trader with no money looking for money, and I say I have a new car paid for, the obvious response from them is going to be to sell the car. It's just going to take a little while for me to accept it as the reality. But, I'm already really starting to..

Although it can obviously take people any amount of time to become a good trader, I've read a bunch of times that 5 years is a good estimate. Well, next year will be my 5th year. I can also honestly say that I have the most confidence in my ability that I have ever had since I started. I no longer feel completely clueless as to what I am supposed to do. Sure, there is room for improvement, and I will improve, but I KNOW I am heading down the right track. I don't care if people don't believe me.

My plan is to keep my car for the rest of the summer while the weather is nice and girls are out of school. I'll sell it in August/September. Plus, it's not like I need the money tomorrow, so a few months isn't a big deal. In the meantime, I will watch the markets every day and work on my trading. When I sell the car in the fall, I'm also going to get a part-time job during the afternoon/night. I may even just trade the mornings, so I should definitely be able to trade and work at the same time.

I still have like $2k in my IB account. With all my bills paid off, after I sell my car, I should have about $17k to trade with. If I'm smart, I could really be off to the races at that point. I know some ET people think I'm clueless because I bitch here a lot, but my real problem has been living off and trying to grow a tiny account. I was also desperate and risking WAY too much per trade. dbphoenix, and others: 0% chance I'm quitting, so don't waste your time responding to this suggesting that I quit and do something else.

Although I know this is too early to get into too much, I'm also thinking a few years down the road. Say 2 years from now, I'm profitable. Would it be wise to get into prop trading? If I were to start doing good with my own money, maybe I won't even need to go prop, but if I start to really get the hang of it, I'm thinking prop may not be a bad idea. Ideally, I would be 27 at the time with 7 years trading experience. What kind of record would I need? What are the positives and negatives of prop trading?

thx
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Too funny.... IF your only trading "plan" (?) is to "sell your car" after you pick up some "girls"!

And to think one can run for Representative at age 25... and make law that governs others!

No offense, but man you must need lots of attention!

Ice
:cool:
 
Quote from NihabaAshi:

Here's a very good link for anybody reading this post...

http://www.elitetrader.com/vb/member2.php?s=&action=addlist&userlist=ignore&userid=9117

P.S. The prior two posts exchange between TGregg and GordonGekko is the main reason what prompt my above link.

NihabaAshi
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NihabaAshi,

like anyone really cares what your reasons are for being a dick (sneaky GG ignore list link). whatever, dude.

i'm done with this thread for today. i've seen about as much overanalyzing and incorrect assumptions of me that i can take for 1 day..

P.S. NEW DAY HIGH COMING FOR ES!
 
GG -

I don't want to sound like a dealer trying to feed a crack habit, but if you need cash for a paid-off car and want to keep driving it you can get what's known as an auto title loan.

Give 'em your pink, they'll give you a loan, usually on th spot.

Just check out any companies with the BBB, state DMV etc as due diligence. You don't want them going tits up on you with your pink slip.
 
go GG!!!

my advice.... sell your car. Live very simply. Get a part time job that pays you your living expenses plus an ammount you can afford to lose in the market every month.

Once you lose the affordable ammount... stop trading, and papertrade, until the next month.

don't listen to,or argue with jerks. If that means putting me on ignore. do it!

Spend all your time productively! and i'm sure you will succeed.

best wishes!

ps... it took me 3 years to stop trying to be smart... to stop looking for the exact top and exact bottoms, to stop drawing stupid lines on a chart thinking i can find the exact point the market will turn. I probably analyzed the tops and bottoms more than anyone else ever has. Even though it was a waste of time, there was a lesson learned. good luck Gordon Gecko.
 
Quote from Gordon Gekko:


NihabaAshi,

like anyone really cares what your reasons are for being a dick (sneaky GG ignore list link). whatever, dude.

i'm done with this thread for today. i've seen about as much overanalyzing and incorrect assumptions of me that i can take for 1 day..

P.S. NEW DAY HIGH COMING FOR ES!
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The only dick around here is you. I am sure you have a little one, therefore you feel the need to act like a big one.

You are an immature little crybaby, who starts a thread soliciting people's input and then acts like a little pussy. THAT is why you don't succeed at trading.

If it sounds like I am mad, I am. I am mad at myself for taking the time to write down thoughts and advice that I hoped would be helpful. Sadly, the person who suffers the most is the next guy asking for advice, and the people who will not waste their time giving it because of experiences with you.
 
You can get a loan on the car from any bank or credit union, interest rates are so good right now too. I have done it, thinking of doing it right now. You would probably take a bigger hit on license and transfer fees and hassle time selling the car and getting another one, assuming you need to get another one, than the interest.

I lost my license once and I got by on a bus pass and a ten speed for a couple of years, it was not all that bad. I was surprised to find that I still had a life, met women, took them places, even on the bus.

Max
 
Quote from maggandre:



The only dick around here is you. I am sure you have a little one, therefore you feel the need to act like a big one.

You are an immature little crybaby, who starts a thread soliciting people's input and then acts like a little pussy. THAT is why you don't succeed at trading.

If it sounds like I am mad, I am. I am mad at myself for taking the time to write down thoughts and advice that I hoped would be helpful. Sadly, the person who suffers the most is the next guy asking for advice, and the people who will not waste their time giving it because of experiences with you.
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I think it is obvious that GG started this thread to get "cheerleading" from those who would encourage him to sell his car and pursue his dreams at all costs. GG did not care about the advice offered that would allow him to continue pursuing his dream, but do it from a rational perspective that would more likely lead to long-term success.

GG is looking for "enablers". Use a drug analogy, use a gambling analogy, whatever. It would be nice if he writes down the names of those enablers and in the future communicates with them via PM, so as not to waste everyone else's time. But, I doubt that will happen.

In fact, I predict many GG threads in the future, going back and forth between "I blew out my money again", to "I know how to be successful now", to "Where can I sell a kidney for trading $$$".

And, the enablers will be there to help him every step of the way. But, in 10 years, he will look back and wonder to himself..."what happened?".
 
Quote from maggandre:



The only dick around here is you. I am sure you have a little one, therefore you feel the need to act like a big one.

You are an immature little crybaby, who starts a thread soliciting people's input and then acts like a little pussy. THAT is why you don't succeed at trading.

If it sounds like I am mad, I am. I am mad at myself for taking the time to write down thoughts and advice that I hoped would be helpful. Sadly, the person who suffers the most is the next guy asking for advice, and the people who will not waste their time giving it because of experiences with you.
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But really, how do you feel about GG?


:D
 
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