10 years ago I walked away from trading the full s@p because I knew I was undercapitalized and the odds were not good even though I was successful for over a year and was offered a position on the floor with a local. Back then I had some demons and a 25 year old in Chicago? I knew I would be done for.
I knew that is what I wanted to do eventually but felt it would be better to delay my gratification. For the last ten years I have busted my ass. Got a real job, flipped real estate, started 2 businesses, bought investment property, dealt beanie babies you name it. No fancy home, no new cars for several years, worked holidays and did some of the most god forsaken things at all hours of the night and day, all while getting married and having two kids, and putting wife through graduate school in the early years. And living so far below my means now I look at it as squalor so I could squirrel away every quarter, nickel, dime and penny I could roll and take to the bank.
Ten years later with a net worth in the good seven figures and good six figure (somewhat passive) income, I am starting to trade the ym and I love it and am just as passionate about it now as I was then (and I still roll my change, just donate it now.)
My retirement is already secure, my kids education is secure, hell even their weddings are paid for, and so is their retirement. It is much easier to trade when you do it and you don't need the money. But look at what I had to go through to get to that point.
People look at one of my busineeses and say "that place is a gold mine" all the time because of the volumes of business I do. Do you know how much work it takes to mine gold I ask them.
Now I am looking to build a trading record, perhaps running some money, buying a a seat on an exchange, whatever it becomes. Again, I realize even at my level this will not come for years.
I believe it is the discipline in the ability to delay gratifation that leads to ultimate success in your endeavors. If you are chomping at the bit to do something because you love it, don't do it just because you have the minimum amount of firepower. Pay your dues first, it is much easier then paying later.
I knew that is what I wanted to do eventually but felt it would be better to delay my gratification. For the last ten years I have busted my ass. Got a real job, flipped real estate, started 2 businesses, bought investment property, dealt beanie babies you name it. No fancy home, no new cars for several years, worked holidays and did some of the most god forsaken things at all hours of the night and day, all while getting married and having two kids, and putting wife through graduate school in the early years. And living so far below my means now I look at it as squalor so I could squirrel away every quarter, nickel, dime and penny I could roll and take to the bank.
Ten years later with a net worth in the good seven figures and good six figure (somewhat passive) income, I am starting to trade the ym and I love it and am just as passionate about it now as I was then (and I still roll my change, just donate it now.)
My retirement is already secure, my kids education is secure, hell even their weddings are paid for, and so is their retirement. It is much easier to trade when you do it and you don't need the money. But look at what I had to go through to get to that point.
People look at one of my busineeses and say "that place is a gold mine" all the time because of the volumes of business I do. Do you know how much work it takes to mine gold I ask them.
Now I am looking to build a trading record, perhaps running some money, buying a a seat on an exchange, whatever it becomes. Again, I realize even at my level this will not come for years.
I believe it is the discipline in the ability to delay gratifation that leads to ultimate success in your endeavors. If you are chomping at the bit to do something because you love it, don't do it just because you have the minimum amount of firepower. Pay your dues first, it is much easier then paying later.