I am just curious of how many people here are trading to maintain their lifestyle or trading to change their lifetyle for the better.
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Trading for a living OR Trading for a fortune
- Thread starter Pension_Admin
- Start date
if u wanna make a fortune imo u may have to endure losses or renounce to larger gains in order to learn new, more efficient ways of exploitin' imbalances. if u have to make money u'll have to rely on strategies that consistently makes money, with minimal drawdown, eg. like scalping, and scalping has limited opportunities for pushin' your edge due to size constrains. mix many strategies that take advantage of liquidity and u are on your way to make fortunes. it takes time tho and money, especially if u dont have the luxury of a mentor.
When a core strategy has a prolonged period of fat tail trades, there need not be a choice...
I totally agree. If a trader want to make a fortune, he/she definitely have to take on more risks than the trader who just want to maintain their lifestyle. Either case, the road to become a profitable trader is difficult and punishing, with or without a mentor.
Does it really have to be "difficult and punishing"? Thats not the attitude to take with anything in life. All you are doing is looking at a monitor and then pressing some keys at a certain point in time. Your not patrolling a street in Iraq, your not digging a ditch, etc.
Pushing buttons, sitting at a computer and making a decision should not be punishing. The difficult part is in your head.
Some people look at skydiving as being scary, while others view it as fun.
No one is getting hurt here. The worst that could happen is you lose all your cash, but the fun part is making it all back. You might have to actually go out and get a real job. Oh no!
Pushing buttons, sitting at a computer and making a decision should not be punishing. The difficult part is in your head.
Some people look at skydiving as being scary, while others view it as fun.
No one is getting hurt here. The worst that could happen is you lose all your cash, but the fun part is making it all back. You might have to actually go out and get a real job. Oh no!
Quote from Pension_Admin:
I totally agree. If a trader want to make a fortune, he/she definitely have to take on more risks than the trader who just want to maintain their lifestyle. Either case, the road to become a profitable trader is difficult and punishing, with or without a mentor.
Quote from eagle488:
Does it really have to be "difficult and punishing"? Thats not the attitude to take with anything in life. All you are doing is looking at a monitor and then pressing some keys at a certain point in time. Your not patrolling a street in Iraq, your not digging a ditch, etc.
Pushing buttons, sitting at a computer and making a decision should not be punishing. The difficult part is in your head.
Some people look at skydiving as being scary, while others view it as fun.
No one is getting hurt here. The worst that could happen is you lose all your cash, but the fun part is making it all back. You might have to actually go out and get a real job. Oh no!
And what would you know about trading? You gave it all away talking about the "what if" a guy bought a $3 stock and held it for 4 years. Only pikers talk like that. Piker.
Quote from der_kommissar:
And what would you know about trading? You gave it all away talking about the "what if" a guy bought a $3 stock and held it for 4 years. Only pikers talk like that. Piker.
Oh come now, your just jealous that you didnt buy and hold more of these stocks back in 2003-2004.
I bought some back then and held. Yep. However, if I had known it would have been this good and how quickly 2-3 years goes by then I would have bet the farm, sold some of my houses and thrown everything I could at the market. I own 33 houses in the New Jersey area. 3 of them beach front in Lavallette and Ortley Beach.
I learned my lessons through the last market inefficiency. Now that there is a substantial chance of recession next year and an obviously overbought market, will I have that chance again next year?
http://www.marketwatch.com/News/Sto...CA921}&tool=1&siteid=bigcharts&dist=bigcharts
Why dont you meet me sometime and I can take you around to some of the places that I own?
Quote from eagle488:
Oh come now, your just jealous that you didnt buy and hold more of these stocks back in 2003-2004.
I bought some back then and held. Yep. However, if I had known it would have been this good and how quickly 2-3 years goes by then I would have bet the farm, sold some of my houses and thrown everything I could at the market. I own 33 houses in the New Jersey area. 3 of them beach front in Lavallette and Ortley Beach.
I learned my lessons through the last market inefficiency. Now that there is a substantial chance of recession next year and an obviously overbought market, will I have that chance again next year?
http://www.marketwatch.com/News/Sto...CA921}&tool=1&siteid=bigcharts&dist=bigcharts
Why dont you meet me sometime and I can take you around to some of the places that I own?
What's this place called? Fantasy Island?
Is this a self admission Eagleboy:
eagle488
Registered: Sep 2006
Posts: 593
09-26-06 10:43 AM
"No doubt that some people scanning ET threads and coming across posters willing to post their PnL and/or real-time trades are wondering - WHY? What is the purpose? Do they wish to boost their ego or do they want to gain respect of a virtual audience or something else?"
First, you have to ask yourself. How many guys have you come across in your life that really tell the truth? I have found that when it comes to either money or women, guys like to fib. Some guys will not only fib, but completely fabricate stories for their own personal reasons. Maybe they have some mental issues and need the attention that others in the public wont give them. Maybe they believe they can manipulate the stock with a few message posts.
eagle488
Registered: Sep 2006
Posts: 593
09-26-06 10:43 AM
"No doubt that some people scanning ET threads and coming across posters willing to post their PnL and/or real-time trades are wondering - WHY? What is the purpose? Do they wish to boost their ego or do they want to gain respect of a virtual audience or something else?"
First, you have to ask yourself. How many guys have you come across in your life that really tell the truth? I have found that when it comes to either money or women, guys like to fib. Some guys will not only fib, but completely fabricate stories for their own personal reasons. Maybe they have some mental issues and need the attention that others in the public wont give them. Maybe they believe they can manipulate the stock with a few message posts.