Quote from rwk:
It's been 8 years since my last consulting gig, and I have had no earned income since then. There are a few things I miss about conventional work, either as an employee or consultant/contractor. Human interaction resulting in friendships is one.
I think we need to have sustained, as distinguished from casual, interactions with people with whom we have common interests and objectives in order to develop meaningful relationships. One problem with trading is that it is hard to discuss it, because other people are usually at a different level of their development, and the conversation can easily become one-sided. When I talk trading with my girlfriend, her eyes quickly glaze over.
Another problem with discussing trading is that it's hard to say much without disclosing our secret sauce. So trading can be a pretty solitary pursuit regardless of the setting. Trading is my passion, and I love to talk about it, but most of the people I meet know little or nothing about it. When they do, I have to keep biting my tongue lest I reveal too much.
I also miss the sense of purpose I had in conventional work. It had a rhythm to it that is hard to find now. I have complete control over my time and tasks, which is a huge responsibility, and it's hard to put it down while I go play. Trading is always on my mind, and I can never really get away from it. I also miss the security of a steady paycheck.
The flip side is pretty obvious. I don't have to work with people I don't like. I have an easy commute and a comfortable workspace. I have unlimited upside to my earnings and achievement. The independence I have developed through trading has likely ruined me for employment forever. [/B]
I can very much identify with this reply.
What I miss about the work relationships is the fact that in a regular job you have people who understand exactly what you are doing (usually, not the spouse or regular friends outside of work) and with whom you can share your ups and downs. You go through these together with others.
The other aspect is that I miss a sense of accomplishment I have experienced when I was managing projects for my former employer. I love to work in general and I love to achieve goals. In trading there is not a goal similar to what I have experienced in my previous work environment. Trading is more of a process which you have to apply constantly, week after week after week...
Of course, the final goal might be to have x million bucks in your account, but that is not what I'm talking about.
Trading is just a way to generate or complement your income. That's it.
Don't get me wrong, I love trading and I love looking at charts and trying to understand price action. But I miss the aforementioned characteristics of the more regular jobs I had before.
Luckily for me, I am now swing trading, i.e. I do not have to sit in front of the computer non-stop all the time. I just have to check the charts a few times per day. Due to this I am thinking about starting to work again and continuing with trading in parallel.
Regarding the secret sauce, I do not think there is one, actually. But I fully understand that one feels uncomfortable talking about the details of their strategy. But that is more a psychological hurdle within the trader itself. Most traders have worked hard to get where they are. So, it makes sense that it does not feel right to give "that" away. Whatever "that" is...
Regarding talking to other traders about trading, I once had the desire to meet other traders, but the more I have developed my own approach I feel like I'm not interested to meet other traders who have different beliefs and, hence, different approaches about trading. What do you want to talk about with such people? You do not have the same basis. I do not want to learn about their approach, as I have my own and I believe 100% in my own approach. I'm not interested in distractions from my trading.
I'm wondering how others feel about the last point.
I'd rather start new hobbies (which I did recently) and meet new people there. There, I still have a lot to figure out and it's very exciting to talk to others who are at my stage of development (beginner) and with whom I can discuss our progress or who are already more experienced and can give me advice. I enjoy meeting these people in this new field.
