Prop Traders - Supplemental Income

Im a firm believer in not having a built in excuse. I have found that traders that have worked for me who have another gig, even if it is to pay bills, are not nearly as focused.

I followed this advice when I first started. Yes cash was an issue but life isnt easy and trading sure as hell isnt either. If you find after 12-18 months you still are not able to have the quality of life you want then get a new job, at least you can say you gave it your full attention and best shot.
 
Fair enough. You make a good point, but I think differently. If I have to give an extra effort for awhile to get where i want to be, that's going to give me more focus on my goals and get me there quicker. I'd love to be in a position where i can just drop everything and focus only on trading, but reality is reality.
 
Quote from artis74:

Im a firm believer in not having a built in excuse. I have found that traders that have worked for me who have another gig, even if it is to pay bills, are not nearly as focused.
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So I assume you pay a monthly draw for 12-18 months?
 
In Vegas there's a high demand for sniff, so it was fairly easy to make a G a week doing that and after 9 months i was rolling..Some of my best customers were the succesful traders in the office. I would give them a great deal and they would help me with trading. Gots ta do whats ya gots to do to stay alive.
 
Quote from artis74:
Im a firm believer in not having a built in excuse. I have found that traders that have worked for me who have another gig, even if it is to pay bills, are not nearly as focused.
More...
i agree 100%. giving yourself NO out for failure FORCES you to figure it out. you learn quickly HOW to lose small. over and over and over ... eventually the profits take care of themselves. No better way to motivate, IMO! :)
 
My friend Barry had a great way to make some cash on the side. He describes how he does it in this video.......
http://youtube.com/watch?v=UX3xFEyWOFY



(OK, I've used this joke before but it was funny then and it's still funny now. Besides, it just goes to show how the same questions keep getting asked over and over again.) :D
 
There is a reason that Cortez burned his ships when he landed. It forced his men to adapt and not view failure as an option. I find it increases the learning curve dramaticaly.
 
Hydroblunt


Registered: Jun 2004
Posts: 3413


06-25-08 07:13 PM



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Quote from artis74:

Im a firm believer in not having a built in excuse. I have found that traders that have worked for me who have another gig, even if it is to pay bills, are not nearly as focused.

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So I assume you pay a monthly draw for 12-18 months?

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Anyone know of any that do pay a monthly draw?
 
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