Trader lifestyle

If you go to the grocery store frequently enough, then you'll find a day when they have milk that is close to the use-by date.

It should be available at a discounted price. Alternatively you could barter with the store manager for a discount in that situation.

Bread should be heavily discounted toward the end of each day.

Quote from Trvlwanderer:

anyone know where i can get the cheapest gallon of milk? Wait, i don't drink milk.

:p
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Go into any wealthy neighborhood-- ask the homeowners what they do for a living--- 98 out of a hundred will not say trader.

ever wonder why?


surf
 
Quote from marketsurfer:

Go into any wealthy neighborhood-- ask the homeowners what they do for a living--- 98 out of a hundred will not say trader.

ever wonder why?


surf
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Because the number of traders is much smaller compared to the number of doctors, business owners and blood sucking lawyers out there.

-Neo
 
Quote from Neodude:

Because the number of traders is much smaller compared to the number of doctors, business owners and blood sucking lawyers out there.

-Neo
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Good point, Neo.

However, e*trade, ameritrade, IB, etc are all paying for those fancy offices and marketing somehow....

surf
 
Quote from Red_Ink_inc:

I threw my watch away 8 years ago. I have no desire to be a slave to time. That was the whole point in becoming a trader in the first place.

I have an alarm clock that gets me up in time to trade (west coast) and there's a clock on the lower right hand side of the computer. That's enough for me.
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my timex's strap broke like 6 months ago, havent used a watch since. Although I am always looking at the clock on my cell phone....:D
 
Quote from cashmoney69:

Traders make lots of money, thats no secret.

Very few traders make lots of money, so your thesis is misguided. Almost all traders lose their money, break even, or make small amounts irregularly.

however I don't ever see any mention of fine luxury items here on ET.

That is why you don't see THIS

...was able to achieve great success as a trader, considering how hard it is, and all the crap we go through, I would show off my success

Who cares? There ain't no U-Haul behind the hearse. And few people really care that you are trying to look like a GQ quarterly who never matured. Try the Sam Walton approach - a billionnaire who continued wearing his overalls and driving his old truck. He was already happy with who he was.

Many millionnaires are know for being careful with their wealth, not turning into overgrown kids with an unlimited credit card
Also, many wealthy involve themself in causes and find it much more rewarding. This life is about people and purpose, not about things.

so, do you wanna be Paris Hilton or do you wanna feel that your life has meaning and purpose each day? Do you want friends who hang with you due to your money or do you want your old friends who actually care about you? The difference is that there are still plenty of people who overdose or blow out their brains, because their life only became more empty with newfound wealth.

It reminds of a story - a wealthy lawyer convinced several friends to put his gold fortune into his coffin when he died so he would have wealth in heaven.

After he died, he appeared before the pearly gates clutching his gold bars, and God asked the lawyer, "why did you bring along pavement"? All streets were already paved in gold...
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why would I talk about those things here when there are forums dedicated to them?

if i want to discuss pateks and ulysse nardins i'll go to timezone.com

if i want to discuss kiton or bespoke savile row suits i'll go to styleforum.net
 
It is interesting that the image of "Traders" is far more success than the truth of not making money or little money.

At Schonfeld, less than 5% of the traders, firm wide, made Million plus. Most washed or made under 50k. I was lucky to be in the room with Rearden, who was in the 5%.

I find that my small firm, guys that hustle the Private Equity World, are making far more than 95% of the traders I knew.
7 figuers a year can be the norm if you'r with a solid firm and learn the game. It does not happen a overnight but give your self two years in the game as a survivor, its 7 pretax easy.
 
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