The Real Secret To Trading

[cnms2]

This story tells me that if you do something that you enjoy and you're good at it, then good things will come. I see no point in not continuing doing what you enjoy. You shouldn't stop doing it just because others would enjoy doing something else.

When you're doing things just for making money it is much more difficult to make and keep them.

It is the same thing as with weight loss. Live healthily and your weight will normalize too. If you're just trying to lose weight it will be much harder, and you may not even get there.

 

[bitrend]

I agree that money has nothing to do with happiness but his life style doesn't show a reason why he needs to work hard to earn more money since he doesn't use that money. Maybe to earn something else...

Quote from Maverick74:

Some of you guys have a really warped sense of what happiness is. Kind of scary.

 

[cnms2]

Many stories (not all of them) about billionaires have a common them, as Ted Turner said in an interview: "If you want to have money, keep it!"

Quote from Maverick74:

... And back to the reason why I posted this article, it was not an advertisement for IKEA furniture, but rather a suggestion to the pikers of this board. Your best shot at making it as a trader is not the discovery of the elusive holy grail, but rather in protecting your capital. Not just from losses, but from expenses. Live below your means. Watch your dollar closely. And if you can last it out long enough, then you can decide what to do with your money if you are ever successful.

Some of you guys have a really warped sense of what happiness is. Kind of scary.

 

[gkishot]

Quote from cnms2:

This story tells me that if you do something that you enjoy and you're good at it, then good things will come. I see no point in not continuing doing what you enjoy. You shouldn't stop doing it just because others would enjoy doing something else.

When you're doing things just for making money it is much more difficult to make and keep them.

It is the same thing as with weight loss. Live healthily and your weight will normalize too. If you're just trying to lose weight it will be much harder, and you may not even get there.

That's very true. The people are doing something not because for one reason of making so much money and then spending it lavishly but because they enjoy doing it. The surgeons are making relatively good money but I never want to be a doctor because I don't like it.
Money is just a byproduct of the work people are doing. At least for people who earned it and those are the majority. How people feel about their work comes first how they feel about spending their earned money comes second.

 

[Maverick74]

Quote from bitrend:

I agree that money has nothing to do with happiness but his life style doesn't show a reason why he needs to work hard to earn more money since he doesn't use that money.

Man, a lot of you guys would not score well on the SAT exams on the reading comprehension part. First of all, this guy is not working hard to earn more money. In fact, he never said he was working hard. Here was his quote:

"I'm not afraid of turning 80 and I have lots of things to do. I don't have time for dying," Kamprad said.

Second, the guy has built this company with his own bare hands from his own garage some 60 years ago in Sweden. Like many people who create things in life (no one on this board), he doesn't wish to see his lifelong work destroyed by some opportunist waiting in the wings. Kudos to him.

I think the problem many of you have here on ET is you assume everything people do in life is for money. Some people, I know this will come as a shock to a lot of you, actually do things because they enjoy it. They take pride in themselves. Or perhaps because it challenges them. Not everyone wants to be a soulless yuppie living in an overpriced condo on the coast. I know, kind of hard to believe isn't it?

 

[cnms2]

It seems that he works because he enjoys it. This is great! Probably this keeps him healthy at 80.

Quote from bitrend:

I agree that money has nothing to do with happiness but his life style doesn't show a reason why he needs to work hard to earn more money since he doesn't use that money. Maybe to earn something else...

 

[bitrend]

Because we're living in a materialist environment and it's hard to be contrarian on this subject.

Quote from Maverick74:

I think the problem many of you have here on ET is you assume everything people do in life is for money.

 

[FuturesTrader71]

Oh... wise Maverick74. It is obvious that you didn't fully digest what I wrote before commenting. My comments below:

Quote from Maverick74:

This is one of the most retarded diatribes I have read on ET in quite a while. I can only hope that you at least got some joy out of the joint you were smoking while you wrote this.

You know some things are not received well by others not because they are "retarded" or because the guy who wrote them is "smoking a joint." As time goes by, you will realize that there are many levels of experience and consciousness among people. If these things that I wrote (fully sober, I might add) do not make any sense to you, then that doesn't invalidate them and doesn't make them "retarded". If you open up your mind to various perspectives, you might find one that actually might shape your perception and on which you can build your legacy. Good luck with that.

First of all, the guy is not living in a freaking cave people on a diet of lima beans. The guy has a great home in Lake Geneva Switzerland. He has a car that is 15 years old which probably suits him well because I doubt the guy is driving much these days.

I didn't say he was living in a cave. Have you seen his home on Lac Léman? If not, then you might not know that it is a "great home". That is besides the point though. I have actually lived in Switzerland. I went to College du Leman in Versoix, Geneva. I have known and still now quite a few wealthy people who oftentimes would do better without all that wealth. Again, that's besides the point. My comments were in regards to being excessively cheap. Whether Mr. Ikea is or not, well, he proudly eludes to the fact that he is.

He never said anything about not enjoying life. He just is careful with his money. Why do you people people assume because he is careful with his money that he is living a life of deprivation? WTF. The guy is probably happier then 99% of the pikers on this board living off their credit cards and trading their 5k futures account at IB.

"Careful with money"... wow! How careful do you have to be if you are worth 10's of billions? The key fact here would be to find out what his money is doing while he is chopping for cheap airfare. Is it helping sick kids in Africa? Is it contributing to the progress of humanity? In either case, my comments were in regards to my philosophy on money in general and not this guy in particular. I don't know enough about him specifically.

As far as my futures account, you don't have to worry about that. I don't have credit card debt. I don't have any debt at all, in fact. My account is not with IB, sorry.

Read, comprehend, formulate a thought and then respond if you think it is worthwhile.

My God, I really wonder about some of the people on this board and really traders in general that your minds are so warped that happiness can only be achieved when you're running a 10 billion dollar fund from the Cayman Islands. Get a clue guys.

Is that really what you think a trader's happiness would consist of? That's not my idea of fun.

And back to the reason why I posted this article, it was not an advertisement for IKEA furniture, but rather a suggestion to the pikers of this board. Your best shot at making it as a trader is not the discovery of the elusive holy grail, but rather in protecting your capital. Not just from losses, but from expenses. Live below your means. Watch your dollar closely. And if you can last it out long enough, then you can decide what to do with your money if you are ever successful.

I am with you on the importance of sound risk and money management. It is good to be wise with your expenses and investments.

Some of you guys have a really warped sense of what happiness is. Kind of scary.

Strange that you should come to this conclusion. What did you perceive what my definition of happiness to be? What is yours?

In the end, money is only a tool to help us fulfill our desires. If he is happy knowing that he is sitting a cramped seat while he can fly his own jet, then so be it. Different strokes....

I won't comment further but look forward to your reply.

 

[NickBarings]

If you have that kind of money, it should be put to work
to improve lives of others , hey, there are still people
dying because they don't have food.

All politicians,wealthy people should be put without food
for 1 week, I am pretty sure that would realize that it's
a crime not to share when you have too much money....

 

[Maverick74]

Quote from FuturesTrader71:

I didn't say he was living in a cave. Have you seen his home on Lac Léman? If not, then you might not know that it is a "great home".

No, I have not seen it. I'm going off the writer's description:

"His home in the Swiss village of Epalinges near Lausanne above scenic Lake Geneva is mainly decorated with Ikea furniture, apart from a few family pieces."

Doesn't sound too shabby to me.

That is besides the point though. I have actually lived in Switzerland. I went to College du Leman in Versoix, Geneva. I have known and still now quite a few wealthy people who oftentimes would do better without all that wealth. Again, that's besides the point. My comments were in regards to being excessively cheap. Whether Mr. Ikea is or not, well, he proudly eludes to the fact that he is.

Yes, but what does cheap mean when you are a freaking billionaire? I mean give me a break. You assume the guy is clipping coupons or something. He does not elude to anything other then what "he" calls as being cheap. Cheap to Donald Trump might mean eating dinners that only cost $100 per meal. People who are billionaires having a different metric then say someone on welfare.

"Careful with money"... wow! How careful do you have to be if you are worth 10's of billions? The key fact here would be to find out what his money is doing while he is chopping for cheap airfare. Is it helping sick kids in Africa? Is it contributing to the progress of humanity? In either case, my comments were in regards to my philosophy on money in general and not this guy in particular. I don't know enough about him specifically.

Again, the point of the article went right over your head. The REASON he is a billionaire is because he is careful with money. That is the point he was making. No where in the article did it mention he was worried about losing his billions. And he also mentioned that he does give to charities so your question as to whether or not he is helping sick kids in Africa is unfounded.

In the end, money is only a tool to help us fulfill our desires. If he is happy knowing that he is sitting a cramped seat while he can fly his own jet, then so be it. Different strokes....

What does the kind of seat you sit in on an airplane have to do with happiness? Oy vey.

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