My "Disciplined Daytrader" story

Quote from asiaprop:

sorry but I am afraid you may not get my point. As mentioned, for each profession a lot of specific talents and traits are necessary. But without hard work success is almost impossible. This goes for hookers, the LinkedIn CEO, Jeff Bezos, traders, various other entrepreneurs, sports athletes, pretty much anyone. Show me any professional at the top of their game who claimed his success came effortless. I have, not a single time, heard of such case. It simply does not exist.

cheers.
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No one will actually admit it-- however it happens all the time.

Admitting it will result in one being hated and vilified in this culture. No one likes someone who success came easy.
 
Quote from volente_00:

But where does trading talent come from ?


With sports you can be born with good genetics but you still have to develop it over years of practice.


Trading skill is developed over time by PUTTING IN THE WORK to make it happen. 95% fail because they want instant gratification without putting in the work. If I offered you a job that for the first 10,000 hours paid nothing or could even cost you thousands of dollars just to do it would you be willing to give up that amount of time and money in pursuit of success ?
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Not to mention having the capital to last for those 10k hours. I would venture 98% still fail even after lasting the 10k hours

The question is, is it a wise use if time iris trading a better, smarter part time biz or hobby? It's your life and only the individual can answer.
 
By way of personal experience, I know 2 successful hedge fund managers who, after failing to raise any $, decided to call up steve cohen and ask him for capital. He funded both with 30 million each within the week. Thereyou go 0 to 30 million for the price of a phone call-- instant success, no talent or 10k hours for iffy results required. All these guys needed to do now was slightly beat the market and they are set.

The working hard for success is an American myth.
 
Quote from volente_00:

But where does trading talent come from ?


With sports you can be born with good genetics but you still have to develop it over years of practice.


Trading skill is developed over time by PUTTING IN THE WORK to make it happen. 95% fail because they want instant gratification without putting in the work. If I offered you a job that for the first 10,000 hours paid nothing or could even cost you thousands of dollars just to do it would you be willing to give up that amount of time and money in pursuit of success ?
More...

and my point is that hard work may not the number one factor....you can put all the hard work you want, if you dont have the talent you are spinning your wheels...Just becuase you go to the batting cage 40hours more a week than billy doesnt gaurantee shit. it may actually be an opportunity loss for you...maybe hockey would have been your thing...My point to the OP.

some are just better at what they do with 1/2 the effort which is required...sorry thats life...and not to mention there are countless other factors that have not on iota to do with hard work. Like outside factors...not from within

and yes I agree with you that hard work is essential...I agreed with you in my original post.
 
Quote from Razorsharp:

"... Everything we do is gambling.
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Disagree. While everything we do has and element of risk, gambling is a particular type of risk taking.
 
Quote from asiaprop:

sorry but I am afraid you may not get my point. As mentioned, for each profession a lot of specific talents and traits are necessary. But without hard work success is almost impossible. This goes for hookers, the LinkedIn CEO, Jeff Bezos, traders, various other entrepreneurs, sports athletes, pretty much anyone. Show me any professional at the top of their game who claimed his success came effortless. I have, not a single time, heard of such case. It simply does not exist.

cheers.
More...

Lebron James could have put in 1 millions hours a year and not gotten to where he is at without talent.
 
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