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True;
its not hard when you enjoy it, but still plenty of work.
Blew up 2 accounts: Need input
- Thread starter DarioC
- Start date
True;
its not hard when you enjoy it, but still plenty of work.
==============Quote from cooldude:
Blew up 2 accounts: Need input
Do like Jesse Livermore, but without the suicide ending.
Lot of truth there,but study risk/money management more than Jesee;
he filed bankruptcy several times
Hi Fred
In my experience, success comes about if you have the attitude (state of mind) necessary to be able to work harder than the mundane masses. I used to teach music and I told my students that you don't need to work like a maniac to achieve success; you just have to do 10% or 20% more work than the masses are willing to do, and you can be virtually guaranteed of success, no matter what your aptitudes are. In fact, the most naturally talented people I know and the most successful are two groups with a limited intersection.
Anyway, I think I have to disagree with your assertion that, generally speaking, success isn't about hard work. You may be one of those rare people with the right mix of aptitude and attitude necessary to achieve success without working hard at it.
I didn't read all the posts so excuse if this was mentioned.....
Why not when you triple your account let's say take 2/3 out and move it to a safer investment, say a money market. Then you are back to starting outing with what you came in with. It sounds like you are good at taking a small account large, but can't take a large account to the extreme size, so stick to what you do well.
I know a couple of pro traders and they do exactly that.
Ask yourself, do I change emotionally and psychologically when y account has gone up x? I think alot of traders do. I did several years ago when I first traded. I took 10k to 66k and then to negative 6k before I took a mental sabatical. Honestly at 66k I thought, key word, that I was a trading genuis, beg beg, lol. I thought my account would go up to 200k. Obviously I was very wrong.
Best of luck to you.
Why not when you triple your account let's say take 2/3 out and move it to a safer investment, say a money market. Then you are back to starting outing with what you came in with. It sounds like you are good at taking a small account large, but can't take a large account to the extreme size, so stick to what you do well.
I know a couple of pro traders and they do exactly that.
Ask yourself, do I change emotionally and psychologically when y account has gone up x? I think alot of traders do. I did several years ago when I first traded. I took 10k to 66k and then to negative 6k before I took a mental sabatical. Honestly at 66k I thought, key word, that I was a trading genuis, beg beg, lol. I thought my account would go up to 200k. Obviously I was very wrong.
Best of luck to you.
doesn't anyone see what's going on here? Look at the years of this traders fabulous returns. 1999. 2003. My mailman was a millionaire in 1999. Not kidding--
The markets went basically straight up those years. Combine that with the leverage that trading options gives you and its easy to make money. Buy calls, let expire, repeat.
Unfortuantely for this gentleman, he has a major hard-on for market action. Could be worse- drugs, booze, sports gambling, etc.-. However, I highly doubt this gentleman is much of a trader. I'm willing to bet he made all of his money on the long side and lost it when stocks stopped going up.
As far as being exhausted from those long 12 hour days, what do you think your hours will be as a trader? Those that think that trading is work from 9:30-4, won't last very long. It seems very easy when markets go up. 150K for 60 hour work weeks? Sounds like a deal to me....
Good luck.
The markets went basically straight up those years. Combine that with the leverage that trading options gives you and its easy to make money. Buy calls, let expire, repeat.
Unfortuantely for this gentleman, he has a major hard-on for market action. Could be worse- drugs, booze, sports gambling, etc.-. However, I highly doubt this gentleman is much of a trader. I'm willing to bet he made all of his money on the long side and lost it when stocks stopped going up.
As far as being exhausted from those long 12 hour days, what do you think your hours will be as a trader? Those that think that trading is work from 9:30-4, won't last very long. It seems very easy when markets go up. 150K for 60 hour work weeks? Sounds like a deal to me....
Good luck.
FredBloggs
Guest
good post
Better still, learn how to trade, then you don't need money management hullabaloo at all.Quote from murray t turtle:
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Lot of truth there,but study risk/money management more than Jesee;
he filed bankruptcy several times
MM can't help you win. MM is only helpful to stretch out the time till you're broke. If you can't control yourself, better get it over with quickly.