Spiritual Aspects of Trading
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I came from the corporate world where most of the time I was doing things which were actively immoral. I refused to work on "educational" projects which were basically designed to con schools out of money. Yeah, so some corporation makes a couple bucks, but it came at the cost of ignorant children and crappier schools. I couldn't take it.
I feel just like you do, ByLoSellHi. I know it doesn't sound like much to say that your work is amoral, but that's a big step up from the way many people live. Plus, if you're successful at this, you have the resources to do things which can genuinely help people, things you can't do with other jobs.
In silence...
Stillness of mind is not religion.
In silence...
Spirituality is not religion.
In silence...
Without bias, without judgement, the market is.
In silence...
The still mind sees a market as it is.
In silence...
When all is dropped, the trader is one with the market.
In silence...
Actualization is possible... Actualization is possible... trade in silence.
Religion is dead.
There is no-thing more powerful than no-thing at all.
Silence sees.
Trading may lead one to silence, for that I am sure.
Stillness of mind is not religion.
In silence...
Spirituality is not religion.
In silence...
Without bias, without judgement, the market is.
In silence...
The still mind sees a market as it is.
In silence...
When all is dropped, the trader is one with the market.
In silence...
Actualization is possible... Actualization is possible... trade in silence.
Religion is dead.
There is no-thing more powerful than no-thing at all.
Silence sees.
Trading may lead one to silence, for that I am sure.
In noise...
Stillness of mind is what it is... not better than noise.
In noise...
There is no preference or abandonment.
In noise...
When "market" is... concepts arised.
In noise...
When all is dropped, there is neither trader nor the market.
In noise...
Recognition is possible... Recognition is possible... just trade.
Religion is not all that bad... why want it dead? Disbelief is a belief.
There is nothing in nothing... what's the use for affirming nothing alone without cognition.
Mind sees.
Trading leads me to silence, because I am getting my ass kicked.
(just being annoying)I think that there is a price to becoming an exceptional speculator.
That price in my experience has been:
1. Social Ostracism (you have to be sort of a maverick in my opinion, and very independent and a loner, and given humanity's socialistic/communal tendencies, this leads to problems)
2. Deep introspection/deep inner awareness/ almost a bio-feedback type of approach. This is probably the only positive besides outsized wealth accumulation.
3. Loss of "emotional content", constant risk analysis, lots of compartmentalizing, constantly thinking of your "position" (in all kinds of situations, personal, business, etc, not just trading)
4. Live in paranoia of other people figuring out how to win consistently. (which is probably silly because most of the entrants lack the discpline even if they were handed a good method... no netheless... what if my methods stop working before I can adapt.....)
5. Golden handcuff's aka "wall street merri-go-round" - Your standard of living will ramp up to your income, and that original "I'll retire at xx million" goal arrives, it's no longer enough. It becomes very difficult to escape.
6. You will lose a piece of your soul if you progress far enough, maybe all of your soul before it's all said and done. There is no humanity in conducting this business because this business is about efficient exchange in asset type based on perceived risk/reward (and nothing else depsite what rationalizations you may hear) A trader is a parasite who makes money on this and is purely a "derivative" of it's intended function.
7. It is business in it's most pure and cut-throat form. There is no room for religion, no room for anything that may get in the way of success. I am deeply suspicous of anyone who allows their faith to intertwine with their speculation, and I suspect they will either blow-out or compromise their faith at some point. Which in terms of most faith's mean there is simply no way the two can co-exist without hypocrisy.
8. Financial instruments, currencies, etc were mean't to aid in the efficiency of business transactions. We are engaged in an activity that has no value whatsoever to society other than providing liquidity in markets (we're could be called the oil that greases the transactional engine). Please make sure you leave some sort of legacy with your wealth that leaves the world in a better position than when you entered it.
With all that said. If it's in your blood, and it's what your good at, then pursue it with relentless vigor. I for one love the challenge and competition of the greatest game.
That price in my experience has been:
1. Social Ostracism (you have to be sort of a maverick in my opinion, and very independent and a loner, and given humanity's socialistic/communal tendencies, this leads to problems)
2. Deep introspection/deep inner awareness/ almost a bio-feedback type of approach. This is probably the only positive besides outsized wealth accumulation.
3. Loss of "emotional content", constant risk analysis, lots of compartmentalizing, constantly thinking of your "position" (in all kinds of situations, personal, business, etc, not just trading)
4. Live in paranoia of other people figuring out how to win consistently. (which is probably silly because most of the entrants lack the discpline even if they were handed a good method... no netheless... what if my methods stop working before I can adapt.....)
5. Golden handcuff's aka "wall street merri-go-round" - Your standard of living will ramp up to your income, and that original "I'll retire at xx million" goal arrives, it's no longer enough. It becomes very difficult to escape.
6. You will lose a piece of your soul if you progress far enough, maybe all of your soul before it's all said and done. There is no humanity in conducting this business because this business is about efficient exchange in asset type based on perceived risk/reward (and nothing else depsite what rationalizations you may hear) A trader is a parasite who makes money on this and is purely a "derivative" of it's intended function.
7. It is business in it's most pure and cut-throat form. There is no room for religion, no room for anything that may get in the way of success. I am deeply suspicous of anyone who allows their faith to intertwine with their speculation, and I suspect they will either blow-out or compromise their faith at some point. Which in terms of most faith's mean there is simply no way the two can co-exist without hypocrisy.
8. Financial instruments, currencies, etc were mean't to aid in the efficiency of business transactions. We are engaged in an activity that has no value whatsoever to society other than providing liquidity in markets (we're could be called the oil that greases the transactional engine). Please make sure you leave some sort of legacy with your wealth that leaves the world in a better position than when you entered it.
With all that said. If it's in your blood, and it's what your good at, then pursue it with relentless vigor. I for one love the challenge and competition of the greatest game.
I worked the past 8 years on the buyside before being scapegoated out and can tell you in the end as the place got huge and greedy, I felt the darkest of dark evil in the place, almost as if it had a Darth Vader feel to it. I used to say the place was soul sucking.
Know thyself... and you'll know the markets
This ia a GREAT post.
I can totally relate to 90% of this man's experience.
(1) Independent Thinker
This really means constant critical analysis...
Which then tends to overflow into all aspects of your life...
And no one likes to be "critically analyzed"...
Because 99-100% of human lives are a carefully constructed facade.
(4) People Stealing Your Stuff
I stopped worrying about this a long time ago...
< 1% of people would have the talent and drive to duplicate what I do.
(7) No Room For Religion In Business
This I disagree with.
Being true to your <fill in the blank> Faith will limit your success...
Because you will NOT steal your way to wealth.
So you will only be a millionaire... not a billionaire.
Is this a sacrifice?
I guess that you "mistrust" people of Faith because they will not steal for you.
One thing I will add:
(9) A Darwinian view of business that spills over into everything else.
Even on a date...
I view the girl as acting out her genetic programming...
And playing out her role in the Grand Darwinian Struggle For Survival.
This may be "correct"... but not exactly romantic.
Soros came to nearly identical conclusions in his late 40s...
And now devotes 90% of his energies to Philanthropy and politics.
This is very good. I think people who can be completely honest with themselves have a huge advantage,and not many people can get past their ego, or what other's may think of them if they are not conforming to various norms. We are all terribly, terribly fallible. Given this presumption, the game becomes critical analysis (which really in my opinion is, figuring out when your wrong ASAP with the highest degree of reliability), and tight risk control.
I'm still nervous about this. I used to say I just need enough to get out and then of course I don't care, but when it really gets in your blood, and you really awaken to it, it feels to me like the only way I'm going out is feet first. When you are first learning, it's all about going profitable, and the pain of that process leads on to set a goal and try to get out when it's hit, so as not to relive such terrible anguish. Once you are profitable, and more importantly, not profiting from some fleeting inefficiency, then suddenly it's how the hell do I get out? That goal you picked was arbitrary and driven by fear, now you have the ability to exceed it over a specified time, and you are driven by greed. It's greed and fear on a grander stage, because you have conquered the greed and fear of single trades (which of course should be nearly meaningless emotionally).
I'm not sure how much is enough, and I'm beginning to think perhaps none is enough for someone who really thrives in this environment. Because it's about winning, and it sounds cheesy but competing and beating everyone else is more important than money. Money is just how to keep score. And then we return to the ego we had to shed to get near the top in the first place. I'm not here yet, but this is what scares me more than anything, including someone else figuring out my method. Getting so big you believe your own bullshit, at which point your own arrogance consumes you. And you lose it all. I think the history of speculation has shown this to not be out of the realm of possibility.
In terms of religion -
I distrust people who are not honest and true to themselves. I am actually agnostic myself (not that it really matters), but in terms of organized religion, I think being a trader may present certain conflicts that will entice a person into hypocrisy. Of course I am very suspicious of organized religion anyway (which in my humble opinion was the first attempt at rule of law as we know it). I have no problem with rule of law, but I have a problem with rule of law that cannot adapt (the evil moral relativism for all you good/bad binary moralists out there) and is considered unquestionable; Even worse such divine edicts are under the care, interpretation, and administration of a select group of humanity itself. This is where Soros and I really agree: humanity is entirely fallible in every pursuit, and Karl Popper provided some excellent insight into this.
I believe there is order in the chaos of the market, if there is not, I'm either going to leave or blow-out, I don't see a 3rd option. I haven't been able to back any of my rationalizations for this perceived order with fact. I see it, trade it, and then I philosophize. Soros strikes me as someone with a good philosophical approach to this topic, at least based on his published works.
7. It is business in it's most pure and cut-throat form. There is no room for religion, no room for anything that may get in the way of success. I am deeply suspicious of anyone who allows their faith to intertwine with their speculation, and I suspect they will either blow-out or compromise their faith at some point. Which in terms of most faith's mean there is simply no way the two can co-exist without hypocrisy.
8. Financial instruments, currencies, etc were meant to aid in the efficiency of business transactions. We are engaged in an activity that has no value whatsoever to society other than providing liquidity in markets (we're could be called the oil that greases the transactional engine). Please make sure you leave some sort of legacy with your wealth that leaves the world in a better position than when you entered it.
I wish to add a gloss on several points here. I have been interested in markets and trading since I was 16, and have been fortunate to have been able to successfully trade my own money full time since 1992, after some years spent as a corporate lawyer and investment banker.
During the second half of the 1990âs I too (albeit perhaps unconsciously) took the attitude (against my deeper convictions) that there was no room for âanything that may get in the way of successâ. I do not believe that I was a very pleasant person to live with during these difficult years â my wife and son would no doubt second this view. I did well in one sense â I made very good money. In a far more important sense I pissed some years down the drain and did not live in harmony with my deeper convictions. I was not happy. I will go further and admit that I was mostly very, very miserable. And I made those around me unhappy too.
Is success worth that price?
I did not, have not found âfaithâ in a conventional religious sense. I do not believe in the cruel god of the Israelites who can go along with âsmashing the heads of the children of the Middianitesâ. I do not wish or need to be convinced by the early Church fathers that Christ was the incarnation of God, or indeed that, in an anthropomorphic sense, there is such a god.
What I did need to understand, and what I do still constantly have to remind myself of, is that there is a good way to live and a bad. I discovered I was living in a bad way; I discovered that living in a good way (or at least in a âbetterâ way!) leads to personal happiness. Not only for myself but for those around me. The more I have tried to live up to the ethics and the psychology of the Buddhists, the Stoics, the Taoists and yes, the Christians, the easier my life has become. I hope I can continue to progress along the path â it is a long and difficult one.
I do not believe that hypocrisy or compromise is necessary or inevitable. Or at least I have not found it so. I do believe you have to contemplate the absurdity of money, fame, material success and to lose your âattachmentâ to it. I do believe you have to make a very conscious effort to exercise tolerance, decency, patience and to acquire wisdom.
I have not found my âfaithâ in any way detrimental to my trading or my material welfare. I do not believe I have been guilty of hypocrisy. Or at least I hope not.
I do not believe that the activity of trading has no value whatsoever to society. I believe that capital markets have as much of a role to play as shop keeping, or accounting or the legal profession.
However I find it equally true that we are not living in a society that is in any way just or ideal. But we can each attempt to make it more so by our own tiny individual efforts.
Anthony Garner
Buhrle Asset Management
8. Financial instruments, currencies, etc were meant to aid in the efficiency of business transactions. We are engaged in an activity that has no value whatsoever to society other than providing liquidity in markets (we're could be called the oil that greases the transactional engine). Please make sure you leave some sort of legacy with your wealth that leaves the world in a better position than when you entered it.
I wish to add a gloss on several points here. I have been interested in markets and trading since I was 16, and have been fortunate to have been able to successfully trade my own money full time since 1992, after some years spent as a corporate lawyer and investment banker.
During the second half of the 1990âs I too (albeit perhaps unconsciously) took the attitude (against my deeper convictions) that there was no room for âanything that may get in the way of successâ. I do not believe that I was a very pleasant person to live with during these difficult years â my wife and son would no doubt second this view. I did well in one sense â I made very good money. In a far more important sense I pissed some years down the drain and did not live in harmony with my deeper convictions. I was not happy. I will go further and admit that I was mostly very, very miserable. And I made those around me unhappy too.
Is success worth that price?
I did not, have not found âfaithâ in a conventional religious sense. I do not believe in the cruel god of the Israelites who can go along with âsmashing the heads of the children of the Middianitesâ. I do not wish or need to be convinced by the early Church fathers that Christ was the incarnation of God, or indeed that, in an anthropomorphic sense, there is such a god.
What I did need to understand, and what I do still constantly have to remind myself of, is that there is a good way to live and a bad. I discovered I was living in a bad way; I discovered that living in a good way (or at least in a âbetterâ way!) leads to personal happiness. Not only for myself but for those around me. The more I have tried to live up to the ethics and the psychology of the Buddhists, the Stoics, the Taoists and yes, the Christians, the easier my life has become. I hope I can continue to progress along the path â it is a long and difficult one.
I do not believe that hypocrisy or compromise is necessary or inevitable. Or at least I have not found it so. I do believe you have to contemplate the absurdity of money, fame, material success and to lose your âattachmentâ to it. I do believe you have to make a very conscious effort to exercise tolerance, decency, patience and to acquire wisdom.
I have not found my âfaithâ in any way detrimental to my trading or my material welfare. I do not believe I have been guilty of hypocrisy. Or at least I hope not.
I do not believe that the activity of trading has no value whatsoever to society. I believe that capital markets have as much of a role to play as shop keeping, or accounting or the legal profession.
However I find it equally true that we are not living in a society that is in any way just or ideal. But we can each attempt to make it more so by our own tiny individual efforts.
Anthony Garner
Buhrle Asset Management