Depending on the scalability of your trading and the liquidity of the instruments you trade, I would imagine you could have the best of both worlds.
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Life of a trader
- Thread starter Jones75
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Funniest thing...thx for thisGot this off of stockTwits…enjoy
https://stocktwits.com/Trading4Livi...m_source=dailyemail&utm_campaign=outboundteam
making this my wallpaper
Funniest thing...thx for this
making this my wallpaper
I agree it is fun, but only during the learning curve. Probably 3 to 4 years(full time) max IMO. Beyond that If it doesn't work then it is time to reconsider the decision of trading as career.
Attempting trading as a partime career may not be fruitful for most traders, except for people with natural trading skills.
I know a driver personally who is good in commodities trading.
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Do you ever come across a successful gambler (oppss.. I mean day trader)?
Have you ever come across successful professional gamblers ?
They have professional business class attitude.
Gambling or business is not in the casino or day trading. It is in the attitude.
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Have you ever come across successful professional gamblers ?
They have professional business class attitude.
Gambling or business is not in the casino or day trading. It is in the attitude.
Lol, 99.9% of the gamblers loss. Those winner are no different than the lottery winner.
And thank you for promoting gambling (day trading) in Internet to novice regardless what is your real motivation are.
Have you ever come across successful professional gamblers ?
They have professional business class attitude.
Gambling or business is not in the casino or day trading. It is in the attitude.
Years back (I belive 2011 or 2012) there was a documentary on TV about a successful gambler...story more about how he treated gambling like a business than about gambling itself. The guy knew just as much about how to manage a successful business as he did about being a successful gambler.
His attitude seemed no different than any other successful entrepreneur.
IRS liked the documentary so much, he had to hire a tax lawyer to make sure his taxes were done properly for fear they'll come after him.
My point, he seemed like one of those people that could probably start another different business and still be highly successful.
Google for the success rate of people who started business all over the world. Only a very less percentage of them succeed.
Ofcourse the succes rate of day traders will be far worse because micro investment attract common people in large scale who mostly have gambling attitude rather than solid passion to learn trading.
Traditional business needs considerable investment. So people will think 100 times before testing the waters.
Here in trading, particularly day trading every thing from opening a trading account to start trading needs minimal investment. So even a taxi driver can trade.
Hence the 99% or more failure rate.
Makes sense, right ?
Day trading needs very good temperamant which most traders lack. Traditional business needs temperament plus lot of industry/market knowledge. In that perspective day trading is far easy to make money. On the other hand day trading needs quick decision making skill due to hyper speculations. From this perspective day trading is far more tougher than traditional business.
What i am saying is understanding comes from various perspectives not just from one single narrow view point. And 360 degree perspective comes mostly from wide life experience. People with narrow view point explains their inexperience.
This blog naturally attracts people ranging from taxi drivers to business class people alike. Its wonderful to watch how each individual either reveals his wisdom or exposes his ignorance.
One symptom of matured people is diplomatic way of responding. Offensive words or easy judgements are symptoms of immaturity or inexperience in life.
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